Consultancy and fund management firm Golden Equator Group launches Brunei unit business following an $18.3-million injection from investors last year.
The Singapore firm will launch three businesses in Brunei: a family office (Golden Equator Wealth or GEW); a consultancy business (Golden Equator Consulting or GECo); and a potential workspace subsidiary (SPECTRUM). The launch follows fundraising round in April last year that totaled $18.3 million led by Japanese entrepreneur Taizo Son alongside other individual investors from Asia, including Brunei, and the Middle East.
According to a statement from Golden Equator, GEW will focus on educating and providing ultra-wealthy Bruneian families with a «more holistic approach to wealth and legacy preservation. This follows observations by the group’s founder and CEO, Shirley Crystal Chua, of «encouraging interest» amongst the market of families which are increasingly planning on how to pass on their businesses and wealth to the next generation.
The firm hired Aziemah Abdullah, formerly with Royal Brunei Technical Services, as country head last November to spearhead the business.
National Agencies
Golden Equator’s entry into Brunei was a result of discussions with the country’s government agencies which is also a source of business for its consultancy arm GECo. GECo has been working with SME national agency Darussalam Enterprise since 2018 to run training sessions focused on business skillets for startups.
To date, GECo has completed three startup and microbusiness sessions in Brunei and will conduct seven more over the next two years. The sessions thus far have supported more than 200 startups, raised over $1 million in investments and created about 500 jobs in the country, the statement added.
Golden Equator’s workspace subsidiary is also in discussions with Brunei’s government agencies to potentially establish a workspace designed to drive community-building and collaboration in an effort to grow the startup accustom and attract more entrepreneurs. Launched in 2018, SPECTRUM already has partnerships in similar workspaces in Indonesia, Vietnam, Malaysia, Japan and Korea with more discussions undergoing in Dubai and Korea.
