Shenton International files 2018 accounts, new bond launch planned for August

Shenton International logo

Shenton International Bonds plc has filed its accounts for the year ending December 2018.

In 2016 Shenton raised £3.5 million from investors in 2-year bonds and 4-year bonds, paying 9% and 10% interest respectively. Of the £2.4 million due for repayment in 2018, £1.7 million was rolled over into new bonds, with the remaining £700,000 returned to investments.

In addition to the rolled-over money, Shenton raised a further £1.2 million in 2018 for two year bonds repayable in May 2020. The new two-year bonds pay a higher rate of 10%, or 12% for investors who rolled over the previous two-year bonds.

Shenton lends investors’ money to property developers in Brazil. The profit and loss account shows a net profit of £84k in 2018, down marginally from £86k in 2017.

The director’s report states

There has been a significant increase in administrative expenses compared to the prior year as a result of expenses associated with the issue of a new bond in April 2018. This event also generated significant commission income from the borrower. See notes 5 and 7.

The notes in question show that in respect of this raising of another £1.2 million, SIB plc’s administrative costs rose from £23k to £557k, mostly “legal and professional fees”. However offsetting this increase was £417k paid as “fee income” from sister company Shenton International Limited.

Shenton International Limited still has until the end of September to file December 2018 accounts, being a Ltd company rather than a PLC.

Shenton International Bonds plc now has exactly £4 million invested in loans to developers, up from c. £3.5 million in 2017. A further £400,000 is owed to Shenton as “interest receivable” and £368k is owed by related parties.

Overall net assets increased from £263k to £347k.

Since last year, director Helen Kwai Leng Chong stepped down and was replaced by Andrew Michael Thompson (no relation to London Capital & Finance’s Michael Andrew Thomson, we hasten to add). According to a filing for a UK entity, Shenton International Limited, Shenton’s ultimate owner is Singaporean James Chew Beng Haw.

According to the director’s report, Shenton plans to launch a new loan note investment next month in August.

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3 thoughts on “Shenton International files 2018 accounts, new bond launch planned for August

  1. Researching this site has given me a great entrepreneurial idea
    I shall launch the “Early Ponzi Investor” bond that seeks out Ponzis in their infancy and therefore have a high chance of paying out on these pie in the sky “12month at 12%” ponzis.
    Perhaps Illusion Capitalism could be a good earner for the astute Ponzi surfer?

    Like

  2. “According to a filing for a UK entity, Shenton International Limited, Shenton’s ultimate owner is Singaporean James Chew Beng Haw.”

    Indeed. So you might wonder how good a job the auditors have done on other aspects of this SPV’s accounts when they only say the ultimate controlling party is Shenton Holdings Private Limited in Singapore.

    Like

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