Llambias denies talks with The Profitable Group
Jun 10 2009 by Stuart Rayner, The Journal
Investors on tap for company with wide portfolio
IF The Profitable Group buys Newcastle it is likely to tap some of its hundreds of wealthy global investors to provide the £100m-plus cash to do so.
The Singapore-based business started off as a property investment company, developed into a wealth management business and now has a diverse portfolio of interests.
These include public sector consultancy work, software development, education training tools, venture capital, art investment, sports consultancy, football brand development, events management and marketing.
The company started off in 2004 in the UK, before opening a branch in Singapore and relocating its headquarters to the former British colony. It also has offices in Malaysia, Canada, Indonesia, Thailand, Brunei, the Philippines and has recently opened branches in the UK, Dubai, France, Cyprus and Albania.
Its website proclaims: "Throughout our history the group has always adhered to the most strict and conservative financial policies.
"For example we have never borrowed and we have never offered finance. In these troubled financial times, these have proved to be wise policies, enabling the group to continue to expand its network of offices and its range of products and opportunities for its clients.
"This focus and the results therein, have bought about a set of disciplines and practices and created a highly effective and efficient infrastructure which is the basis of our success."
This year, Profitable is promoting Liverpool’s pre-season matches in Singapore and Bangkok, while the executive list at sister company Strategic Sports Investment includes former United manager Kenny Dalglish as "UK Operations Advisor". The "European operations advisor" to Strategic Sports Investment is Darren Venn, former commercial director of Newcastle United, who left the club last August.
Vinay Bedi, divisional director at Brewin Dolphin in Newcastle, says there are no similar companies to the Profitable Group in the UK.
The extensive range of fields in which it operates makes it unique and with, no profit figures available, it is difficult to determine its strengths. It operates by attracting investment funds from wealthy individuals.
Mr Bedi said: "It appears to have hundreds of wealthy clients and would most probably buy Newcastle by asking these to contribute. It looks capable of raising the money needed to buy Newcastle."
