Catalist-listed Arion Entertainment Singapore announced on May 14 that it has acquired shelf company Fame Harvest Limited, as part of its diversification into Hong Kong. 

Arion Entertainment acquired Fame Harvest for a cash consideration of HK$2,600 ($446.47) from a third-party service provider. “The consideration is the quote provided by the third-party service provider and the Company has taken into consideration the costs of incorporating a company in Hong Kong using a third-party service provider,” read the announcement on the Singapore Exchange (SGX).

According to the announcement, Fame Harvest was incorporated as an investment holding company in Hong Kong on April 23. The issued and paid-up capital is HK$1.00 comprising one ordinary share.

Fame Harvest will be the holding company for Arion Entertainment’s intended businesses in Hong Kong. According to the company, the acquisition is not expected to have any material impact on the company’s earnings per share and net tangible assets per share for the financial year ending March 31, 2022.

Arion Entertainment Singapore is an investment holding company with business activities in Malaysia which is involved in the sale and publishing of magazines and periodicals and events management.

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See: Arion Entertainment shares surge following shareholders' nod to diversify into property and moneylending


In a circular to shareholders on Feb 1, the company outlined plans to enter real estate brokerage services, franchising, leasing, investment, development, property financing to corporations and individuals, and personalised debt management advisory services.

Shareholders voted in favour of the diversification at a voluntary extraordinary general meeting (EGM) on Feb 16, held virtually due to Covid-19 restrictions. Shares of the company surged the following day, with 44.2 million shares traded.

See also: Arion Entertainment, formerly PanPac Media, plans diversification into property and moneylending


Shares of Arion Entertainment also reached a 52-week high of 2.2 cents on March 4 with 210.5 million shares traded. As of May 18, the company has a market cap of $11.21 million. 

“The Executive Director of the Company, Mr Ng Kai Man, is familiar with and has a wide network of associates to leverage in seeking out opportunities in Hong Kong and/or Singapore,” says the company. Ng is the company’s largest shareholder with a 9.93% stake as of Sept 1, 2020.

Ng owns Century 21 Singapore Holdings and Menkin, which in turn owns the entire issued and paid-up capital of Century 21 Hong Kong.

The Century 21 entities are primarily engaged in the franchising business. The Century 21 entities grant sub-franchises and sublicense the trademark and the franchise system to licensed real estate brokers in Singapore, Hong Kong and Macau, to provide brokerage services for mass market sale and purchase of residential and commercial property units.

Ng’s daughter, Ng Yan Pui, is also owner and director of C21 Group, one of the real estate brokerage franchisee companies operating under the brand in Hong Kong.

In November, Arion Entertainment reported 1HFY2021 ended Sept 30, 2020 revenue of $493,000, largely from its Malaysian publishing operations, a marginal increase from $477,000 y-o-y. In addition, Arion Entertainment received $13,000 through the Jobs Support Scheme.

The company reported a net loss of $196,000 for 1HFY2021, from a loss of $407,000 a year before.

The company is expected to report its FY2021 ended March 31, 2021 results by next week.

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Arion Entertainment Singapore was incorporated in 1994 as Panpac Media Group, and has undergone multiple name changes.

Formerly known as The Lexicon Group, the Group was listed on Singapore Stock Exchange (SGX) in 1997. The Group was renamed to Elektromotive Group in 2011 following the acquisition of Elektromotive Limited (United Kingdom). 

On Jan 26, 2017, the Company changed its name to Arion Entertainment Singapore upon the divestment of its 55% stake in Elektromotive Limited.

As at 9.52am, shares in Arion Entertainment are trading flat at 1.2 cents.