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Flooding affecting the Group' s Hubei Zonglianhuan Energy Investment Group Inc.
1.The Board of Directors of Renaissance United Limited would like to announce that the torrential rain and flash flooding affecting central and southern China since mid-May 2026, spanning eight provinces including Hubei, Hunan, Jiangxi, Anhui, Guizhou, Guangxi, Guangdong and Hainan, has disrupted the usual operations of the Group&rsquo s majority owned subsidiary HZLH which is based in Hubei province. China&rsquo s State Flood Control and Drought Relief Headquarters activated a Level-IV emergency response for Hubei and Chongqing on 23 May 2026, with cumulative rainfall in parts of the region reportedly exceeding historical records.
2. All employees are safe from the hazards caused by the weather pattern, and the majority of the gas facilities of HZLH are not affected. However, the flash flood has disrupted and resulted in temporary work stoppages. The management is currently trying to assess the full impact of the flooding on its supply lines and gas grid. The Group' s insurance company has been notified and will be assessing the claim and damages in due course.
3. The Board wishes to highlight that whilst the impact assessment of the flooding at HZLH is being carried out, the Group has activated its business continuity plan to mitigate operational disruption including prioritisation of critical customers, close coordination with local authorities and emergency services, and continuous monitoring of weather and infrastructure conditions. The Board envisages that regular operations at HZLH will resume substantially once power and local transport links are restored to normal.
4. The Company will make further announcements in relation to the flooding situation and its impact on HZLH as and when there are material developments.
This is the first time in many years the torrential rain had affected the Company' s assets, luckily got Insurance Coverage and State Authorities will prioritized resumption of Utilities Essential over Business and Commercial.
Renaissance United Likely To Announce Their FY26 Results On Or Before 26 June!
Expect ESA Electronics To Post Exceptional Strong Growth Due To Increasing Core Driver Burn-In Demand, Driven By AI Infrastructure Boom, Soaring Semiconductor Volume, EV Automotive and Industrial IoT Hardware.
HZLH Gas Business Likely To Post A Q4 On Q4 Profit With Minimum Capex And Stable Revenue. Free Cash Flow Likely To Significantly Pile On Cash & Bank Balance Of S$6,498,000 (RMB$35,362,000), Previously Reported As Cash Held Within The China Subsidaries.
If Management Perform An Impairment Reversal Of The Gas Business During The Year End Evaluation, It Might Potentially Claw Back Millions Of Reversed Impairment Into The Profit.
Capri Investment LLC Likely To Con' t With Its Groundwork & Permit Application Etc. And Are Not Expected To Made Any Contribution This Quarter!
Above Just My Observation And Nothing Concrete!
Not A Buy Call, Please DYODD!
Expect ESA Electronics To Post Exceptional Strong Growth Due To Increasing Core Driver Burn-In Demand, Driven By AI Infrastructure Boom, Soaring Semiconductor Volume, EV Automotive and Industrial IoT Hardware.
HZLH Gas Business Likely To Post A Q4 On Q4 Profit With Minimum Capex And Stable Revenue. Free Cash Flow Likely To Significantly Pile On Cash & Bank Balance Of S$6,498,000 (RMB$35,362,000), Previously Reported As Cash Held Within The China Subsidaries.
If Management Perform An Impairment Reversal Of The Gas Business During The Year End Evaluation, It Might Potentially Claw Back Millions Of Reversed Impairment Into The Profit.
Capri Investment LLC Likely To Con' t With Its Groundwork & Permit Application Etc. And Are Not Expected To Made Any Contribution This Quarter!
Above Just My Observation And Nothing Concrete!
Not A Buy Call, Please DYODD!
Active Legal Groundwork is Already Underway
As part of a broad mandate issued by the Hubei provincial government, all regional utility networks were instructed to update their legacy agreements. HZLH has used this regulatory requirement to strengthen its long-term contract status:
- Executed Upgrades: HZLH' s regional legal and management teams have successfully negotiated and signed formal concession amendments with all four of its contracted municipalities&mdash Anlu, Dawu, Xiaochang, and Guangshui.
- The Focus: Rather than waiting for the original 30-year timelines to run completely down to zero, these pre-executed amendments actively rewrite and clarify structural terms, setting up the exact administrative runway needed to claim the newer 40-year maximum operational ceiling
Upstream Price Reforms Strengthen Their Eligibility
To qualify for a concession extension or expansion under China&rsquo s updated Public-Private Partnership (PPP) laws, a utility provider must demonstrate operational stability and financial sustainability. HZLH secured a key mechanism to meet this requirement:
- Residential Price Liberalization: The local governments of Xiaochang, Anlu, and Dawu formally adopted downstream price controls.
- Financial Protection: This policy change allows HZLH to alter retail consumer gas tariffs dynamically based on periodic reviews of volatile upstream gas cost. By establishing this automatic cost-pass-through system, HZLH removes major financial risks from its business model. This makes the company an ideal candidate for long-term 40-year exclusive renewals in the eyes of provincial planners.
The Path to Formalizing the 40-Year Terms
To permanently transition the current 12-to-16 year remaining balance out to a full 40-year timeline, HZLH' s corporate parent, Renaissance United Limited, utilizes a multi-step compliance process.
To permanently transition the current 12-to-16 year remaining balance out to a full 40-year timeline, HZLH' s corporate parent, Renaissance United Limited, utilizes a multi-step compliance process.
- Engineering Validation: Local bureaus require safety tracking records showing that HZLH&rsquo s grids&mdash which average a modern 11 to 15 years of age&mdash possess the mechanical integrity to distribute natural gas for multiple upcoming decades without safety breaches.
- Infrastructure Investment Commitments: To lock in the 40-year terms, HZLH can leverage its unpledged infrastructure assets&mdash such as the pipeline network in Dawu city&mdash as security to obtain additional bank funding. This capital will fund pipeline extensions to newly built industrial development zones, satisfying local economic goals.
Under China&rsquo s Public-Private Partnership (PPP) and public utility concession mechanisms, the maximum concession period was extended from 30 years to 40 years (and potentially longer for massive structural projects) to stimulate long-term private capital investment.
Once a formal renewal or new 40-year framework amendment is executed with the Hubei municipalities, the remaining book value is redistributed across a much longer timeline. This extension stretches out the remaining lifecycle, instantly lowering the annual non-cash amortization hit on the income statement.
Immediate Boost to Paper Profitability (Net Earnings)
By spreading out the intangible asset balance across a wider window, the immediate financial result is a sharp reduction in annual non-operating expenses.
- Example Effect: If a company amortizes a S$50 million asset over its remaining 13 years, the annual non-cash expense is roughly S$3.8 million.
- The Adjusted View: If that same contract is extended out to the 40-year maximum limit, the annual amortization expense drops to roughly S$1.25 million. This accounting adjustment retains millions in paper profits on the income statement each fiscal year, directly boosting earnings per share (EPS) and EBITDA metrics without altering daily gas operations.
Reversal and Mitigation of Asset Impairment Losses
HZLH recently incurred a S$7.89 million non-cash impairment loss due to near-term real estate slowdowns across its Hubei distribution zones. Under accounting principles, impairment testing calculates the " value-in-use" by modeling the net present value of expected cash flows generated through the end of the concession timeline.
HZLH can absolutely apply to transition and upgrade to a new 40-year concession contract. The company is already navigating the required structural updates with the local governments of Anlu, Dawu, Xiaochang, and Guangshui to reposition its framework agreements.
HZLH recently incurred a S$7.89 million non-cash impairment loss due to near-term real estate slowdowns across its Hubei distribution zones. Under accounting principles, impairment testing calculates the " value-in-use" by modeling the net present value of expected cash flows generated through the end of the concession timeline.
The Extended Model:
Shifting the calculation window out to 40 years allows the company to include decades of additional future cash flows and retail connection fees within its valuation models. This longer forecast window offsets short-term macro headwinds, protects the asset from future impairment write-downs, and can even support a partial reversal of past impairment markers.
Shifting the calculation window out to 40 years allows the company to include decades of additional future cash flows and retail connection fees within its valuation models. This longer forecast window offsets short-term macro headwinds, protects the asset from future impairment write-downs, and can even support a partial reversal of past impairment markers.
HZLH can absolutely apply to transition and upgrade to a new 40-year concession contract. The company is already navigating the required structural updates with the local governments of Anlu, Dawu, Xiaochang, and Guangshui to reposition its framework agreements.
The remaining life on HZLH&rsquo s original 30-year exclusive concession contracts is approximately 12 to 16 years.
Because the four municipal concessions (Anlu, Dawu, Xiaochang, and Guangshui) were progressively granted and formalized between 2008 and 2012, the baseline timeline tracks as follows:
- Concession Start Window: 2008 &ndash 2012
- Total Exclusive Duration: 30 Years
- Original Expiration Window: 2038 &ndash 2042
- Remaining Term (as of 2026): 12 to 16 years
These gas assets can operate beyond the original 30-year concession licence, but they do not automatically roll over. Under China' s modern municipal framework and recent regulatory revisions, the continuation of operations relies on a formal legal process of concession renewal, structural re-negotiation, or asset evaluation.
The Right to Apply for Renewal (The Standard Path)
Under Chinese municipal law, exclusive utility concessionaires have the legal right to apply for a licence extension (typically for another 20 to 30 years) before the original expiration date.
- The Condition: Extension approval is strictly contingent on safety performance, supply consistency, and infrastructure health.
- HZLH Status: Because HZLH&rsquo s core networks average only 11 to 15 years old and are structurally sound, the physical pipeline assets are fully capable of safely handling natural gas flow far past the original 30-year operational mark.
The " Transfer or Buyout" Backup Rule (If Renewal Fails)
If a local government and a utility provider fail to reach a mutual agreement on a licence extension, the infrastructure assets do not simply vanish or become abandoned.
- The updated concession amendments signed by HZLH explicitly provide legal clarity on the process by which the subterranean pipeline networks and city gate assets will be evaluated and transferred.
- In a non-renewal scenario, the local municipal government or a designated State-Owned Enterprise (SOE) buys out the physical pipeline asset network at an appraised fair market value. This ensures that local residents in Anlu, Dawu, Xiaochang, and Guangshui experience zero disruption in gas delivery, regardless of who holds the operating licence.
China is witnessing a notable migration reversal, with populations and manufacturing shifting from megacities (Tier-1) like Beijing, Shanghai, and Guangzhou, to lower-tier cities (Tier-2 to Tier-4). This decentralization is driven by the soaring cost of living, strict residency (hukou) quotas, and an economic shift that has pushed jobs and government investment inland.
The cities benefiting the most from this migration reversal are primarily " New Tier-1" hubs and booming inland provincial capitals. These locations are absorbing the massive influx of tech talent, corporate relocation, and middle-class consumers leaving China' s traditional coastal megacities.
Wuhan: The Central Engine (" New Tier-1" Powerhouse)
Wuhan is capturing a Massive Population Influx reversing out of coastal megacities. In a single year following the implementation of aggressive talent-attraction policies, it led all Chinese cities by expanding its permanent resident population by 1.2 million people.
As coastal megacities and Wuhan Metropolitan Area (WMA) corridor itself experience soaring land and operational costs, fringing county-level regions like Anlu, Xiaochang, Dawu, and Guangshui are transforming into high-growth manufacturing hubs from the spill-over.
How the Local Industrial and Migration Influx Benefits HZLH
The macro population shift from Tier-1 megacities down to the Wuhan Metropolitan Area (WMA) periphery directly strengthens HZLH&rsquo s core business segments:
- Surging Industrial Gas Volumes: As industrial output scales up across the Wudian Town Industrial Park in Guangshui and automotive parts manufacturing lines in Xiaochang, the volume of high-margin industrial gas consumed via HZLH' s infrastructure expands exponentially.
- Long-Term Residential Consumption Growth: Returning migrants settling down in these four cities create a highly stable, long-term consumer base for residential cooking and heating, counteracting any slowdowns in new building installations.
This massive influx of population and industrial relocation into Anlu, Xiaochang, Dawu, and Guangshui is shifting the customer base for the local gas monopoly, heavily towards high-volume wholesale distribution in industries below
1. Automotive Parts and Components Manufacturing (Xiaochang)
2. Machinery and Precision Engineering (Anlu)
3. Glass, New Materials, and Ceramics (Xiaochang & Dawu)
4. Advanced Agro-Processing and Food Logistics (Anlu)
As part of the Wuhan Metropolitan Area' s larger master plan, Wuhan functions as the core R& D and clinical medical hub, while its surrounding peripheral cities are rapidly constructing integrated biomedical and health industrial parks.These medical and pharmaceutical industries are emerging as highly specialized, energy-intensive natural gas consumers across Anlu, Xiaochang, Dawu, and Guangshui.
" Wider network of contacts and opportunities. Entering the new markets also brings with it new contacts, clients, and business opportunities, which can bring further opportunities of other businesses, including sustainable and green businesses for the Group to consider and enter into, with shareholders&rsquo approval, if it should come to pass."
Following the finalization of Annica Holdings Limited' s corporate action on May 20, 2026, Renaissance holding of 500,000,000 pre-consolidation shares converts into exactly 3,333,333 post-consolidation shares, with a subscription amount of S$135,999.98 if fully subscribed for the 3,999,999 Rights Shares (6 For 5)!
Hope Management Can Subscribe For The Excess Rights!
Huat!
The application for the current phase of the Falling Water Preliminary Plat, which includes the upcoming 261-lot residential development, was officially filed under Application 862506.
Critical Dates and Progress
- Application Filing: The application for the tri-annual review and time extension associated with these residential units was formally updated on February 14, 2018, with a public hearing held by the Pierce County Hearing Examiner.
- Approval Date: The Hearing Examiner released the official decision granting the extension and establishing the 17 milestone conditions on March 28, 2018 (Singapore time).
- Development Start: Formal infrastructure planning and permit submissions for this specific 261-lot phase accelerated after the March 26, 2018, approval of the 4th Tri-Annual Review.
- Current Status: As of May 2026, the project remains in the planning and entitlement stage. The underlying preliminary plat was most recently extended for its 27th year in 2023 to allow for the continued pursuit of these entitlements.
Milestones Met
Since the 2018 application, the company' s subsidiary, Capri Investments LLC, has met several regulatory deadlines to prevent the land from reverting to rural zoning. This includes the submission of site development permits for road and storm drainage improvements, which were primary requirements of the original application.
Application 862506 is the official permit record for the " Tri-Annual Review and Time Extension" of the Falling Water Preliminary Plat, filed by Capri Investments LLC (a subsidiary of Renaissance United).
For Application 862506, several key Pierce County departments have already provided sign-offs or preliminary approvals to move the 261-lot residential phase forward. These approvals are tracked through the Pierce County PALS Online portal
Current Status
While these major technical departments have signed off on the planning stage milestones, the project remains in the " entitlement" phase. This means that while the design and impact have been approved, final construction permits for each individual lot are still pending the completion of the 17 milestone conditions.
Capri Investments LLC - 261 Residential Lots - Con' t
Estimated margin from the 261 lots after deducting all applications, documentation, permits & approval and necessary construction work etc.
Based on current market valuations and historical development costs in the Pierce County region, the estimated net margin for the 261-lot phase is between US$5.9 million and US$11.1 million.
This estimate assumes a gross revenue of approximately US$25.47 million, based on the recent benchmark sale price of US$97,600 per entitled lot to KB Home.
Estimated Cost Breakdown (Per Lot)
To reach a net margin, the following approximate costs are deducted from the gross sale price:
- Entitlements & Documentation (~US$5,000 &ndash US$10,000): Includes the costs for Application 862506, legal fees for the 17 milestone conditions, and technical studies (environmental, traffic, and survey).
- Infrastructure & Construction (~US$35,000 &ndash US$45,000): Covers the actual " horizontal" construction required by the Site Development Permits, including roads, storm drainage, and utility mainlines.
- Permit & Impact Fees (~US$15,000 &ndash US$20,000): Pierce County Traffic Impact Fees (TIF), school impact fees, and park system development charges.
Projected Margin Summary
| Category | Low Estimate (US$) | High Estimate (US$) |
|---|---|---|
| Gross Revenue | $25,473,600 | $25,473,600 |
| Total Development Costs | ($14,355,000) | ($19,575,000) |
| Estimated Net Margin | $5,898,600 | $11,118,600 |
| Margin Percentage | ~23% | ~43% |
Note: These figures are projections based on industry standards for finished lots in the South Hill/Bonney Lake area and may vary based on specific site challenges or changes in Pierce County impact fee schedules.
Introduction Of Natural Gas Market! (In Mandarin)
Don' t Be Fooled By The Uncle' s Look, Listen To What He Expained Instead!
https://www.youtube.com/watch?v=s1TDfTvyZ3Q
An Inflection Point On China' s Future Energy Demand! (In Mandarin)
https://www.youtube.com/watch?v=amIp5kR_aJs& t=190s
HZLH Part 3
While 99% of Hubei Zonglianhuan&rsquo s customers are residential, the Industrial & Commercial sector typically accounts for over half of the total gas volume consumed.
Volume Dynamics
- Industrial & Commercial (approx. 52%): This group includes factories and large commercial complexes. They are high-intensity users that provide the highest margins per connection.
- Residential (approx. 45%): While numerous, residential consumption is seasonal (peaking in winter) and regulated by tiered pricing.
- CNG (approx. 3%): This volume is sold through specialized vehicle refueling stations and remains a niche but steady segment.
The implementation of new residential pricing policies across all four concessions in late 2025 is designed to help the group maintain profitability even when upstream gas purchase costs fluctuate.
How New Pricing Policy Affect Upcoming Revenue & Profit?
The new residential pricing policy is expected to have a materially positive impact on Hubei Zonglianhuan Energy' s (HZLH) upcoming financial performance by establishing a mechanism to pass through upstream costs to consumers.
Revenue Impact
- Direct Growth: Revenue from the natural gas distribution segment is expected to increase as the new policy reflects higher rates across usage tiers and links them to upstream gas purchase prices.
- Earnings Visibility: With all four concessions (Anlu, Dawu, Xiaochang, and Guangshui) now implementing these reforms as of late 2025, the company has gained significantly greater revenue predictability compared to the previous fixed-price regime.
- Offsetting Challenges: This growth is critical to counteracting a recent downturn in installation and connection revenue caused by the regional real estate slump, which contributed to a total revenue decline to S$62.4 million in FY2025.
Profitability and Margins
- Margin Protection: Historically, HZLH was forced to absorb upstream price spikes (particularly during winter), which severely compressed margins. The new " pass-through" mechanism allows for periodic reviews to ensure selling prices keep pace with procurement costs.
- Net Loss Reduction: For the 9 months ending 31 January 2026, parent company Renaissance United reported a significant reduction in net loss attributable to equity holders (from S$2.8 million to S$0.7 million), partly reflecting improved operating dynamics in the gas segment.
- Operational Cash Flow: Management expects the policy to strengthen the group' s cash flow, enabling better management of working capital and potential future network reinvestment.
Summary of Strategic Outlook (2026)
| Factor | Previous State | Under New Policy (2026) |
| Pricing Control | Fixed by local bureaus | Linked to upstream costs |
| Upstream Volatility | High risk (borne by HZLH) | Mitigation through periodic reviews |
| Earnings Outlook | Uncertain/Volatile | Positive material impact expected |
HZLH Part 2
Gas Users By Percentage
The vast majority of Hubei Zonglianhuan Energy' s customer base consists of residential users. While residential customers make up over 99% of the total connections, commercial and industrial users typically account for a disproportionately large share of total gas volume consumed.
User Statistics
- Residential Users: Approximately 254,400 households, representing the core stable revenue stream for the group.
- Commercial & Industrial: Roughly 900 entities, including factories and commercial centers.
- CNG Users: Over 800 vehicle users are served through the group' s specialized fueling stations.
Work Carried Out By Capri Investments LLC On Tract B Before Sale Of The Falling Water Plat To KB Home.
Before the sale of Tract B (part of the Falling Water Plat) to KB Home, Capri Investments LLC (a subsidiary of Renaissance United Limited) conducted several years of extensive entitlement and preparatory work to make the land " market-ready" .
The key work carried out by Capri included:
- Securing Entitlements: Capri obtained and maintained the development entitlements for 97 single-family home sites on the tract.
- Regulatory Approvals: As a condition of the sale, Capri was required to obtain multiple complex approvals from Pierce County and the Washington Department of Health, which involved engaging various industry experts.
- Plat Extensions: Capri worked with engineers and consultants to comply with the Hearing Examiner&rsquo s conditions and milestones to successfully extend the Falling Water Preliminary Plat.
- Marketing Preparation: General preparatory work was completed to market the land effectively to national homebuilders, a process that took approximately two years to finalize for the KB Home deal.
- Legal Resolution: Capri resolved prolonged legal proceedings and litigation related to the project, which was a necessary milestone before the final sale could close.
-
The sale of Tract B to KB Home (specifically KBHPNW LLC) was completed for a purchase price of approximately US$9.47 million.
What Kind Of Preparatory Work Was Carried Out?
The preparatory work carried out by Capri Investments LLC on Tract B before its sale to KB Home was focused on transitioning the land from a raw, legally encumbered state into a " shovel-ready" development site for 97 single-family homes.
Key activities included: Regulatory Approvals & Permitting
Capri managed a complex approval process that took approximately two years to complete as a specific condition of the sale.
- Health & Infrastructure Permits: Secured multiple approvals from the Washington Department of Health and Pierce County.
- Site Development Permits: Submitted and processed complete applications for Site Development Permits, specifically covering road and storm drainage improvements for the initial phases of development (Division 4).
- Expert Engagement: Hired a team of industry experts, including engineers and specialized consultants, to meet technical regulatory requirements.
Entitlement Maintenance & Plat Extensions
A critical part of the work was preventing the land from losing its development value.
- Time Extensions: Successfully convinced the Pierce County Hearing Examiner to grant multiple extensions to the Falling Water Preliminary Plat. Without these, the land would have reverted to " R5 rural zoning," which would have significantly reduced the lot count and market value.
- Milestone Compliance: Met 17 specific " Milestone Conditions" set by the Hearing Examiner, which included tri-annual reviews and specific technical deadlines for project progress.
The large parcel of approximately 450+ acres land was initially intended for phased residential development.
Management mentioned in AGM currently exploring expansion re-zoning of 80 acres of development land for 261 Development Lots. (Estimated To Worth US$25 Millions. Likely a portion out of the balance 350 acres land).
The Balance 270 Acres Of Land Is Potentially Worth Another Tens Of Millions! The Value Of Land Purchased In 2002 Would Have Significantly Increased In Value After 24 Years!
For Reference Only!
Caveat Emptor, Please DYODD!
Below Is A Summary Of The Land Aquired By Capri Investments LLC In 2002.
When Did Capri Investments LLC Bought The Land In Tacoma?
Capri Investments L.L.C. (a subsidiary of Renaissance United Limited, formerly IPCO International) purchased the land for its primary housing development, the Falling Water project in Pierce County, Washington, in July 2002.
Key Details of the Land Acquisition
- Transaction Date: The promissory note securing the purchase was executed on July 22, 2002.
- Original Owner: The land was sold to Capri by Sawyer Falls Co. L.L.C - (SFC - a Washington LLC), which was owned by entities from the British Virgin Islands and Singapore.
- Property Scope: The acquisition involved a large parcel of approximately 450+ acres intended for phased residential development.
- Payment Terms: The purchase agreement included a " Fixed Amount" payment due in 2014 and an " Indeterminate Amount" due in 2016.
Project Status And Later Transactions
- Partial Sale (2020): In November 2020, Capri sold a portion of the Falling Water development (Tract C) to KB Home for approximately $8.03 million.
- Legal Disputes: The acquisition has been the subject of long-running legal disputes with the original seller, SFC, regarding unpaid development-based payments, with court rulings as recent as June 2022.
- Location: While the project is often associated with the broader Tacoma area, it is specifically located in the Orting Plateau area (near Bonney Lake) in Pierce County.
How Much Did Capri Investments LLC Paid For The Land Bought In July 2002?
The available records do not state the total cash amount Capri Investments L.L.C. paid for the land in July 2002. However, legal documents and corporate filings describe the purchase structure, which was tied to a promissory note rather than a single upfront cash payment.
The financial components of the July 22, 2002, acquisition from Sawyer Falls Co. L.L.C. (SFC) included:
- Principal Sum: A promissory note for a principal sum of US$404,214.38 was executed as part of the transaction.
- Variable Payments: The deal included an " Indeterminate Amount" clause. This required Capri to pay SFC the net proceeds from the sale of 85 single-family residential lots once they were developed and sold.
- Interest: The promissory note carried a high interest rate of 8% per month, which led to extensive litigation. By November 2020, the accrued interest alone was claimed to be approximately US$2.42 million.
In essence, the " price" was structured as a small initial principal plus a significant share of future development profits, which eventually became the subject of a long-running legal battle between Renaissance United and the original seller.
Final Legal Settlement
The final legal settlement regarding the Falling Water project land acquisition was reached on February 9, 2024.
Settlement Details
- Payment Amount: Capri Investments L.L.C. (a subsidiary of Renaissance United Limited) agreed to pay the original seller, Sawyer Falls Co. L.L.C. (SFC), a sum of US$4,000,000.
- Source of Funds: The payment was made from the proceeds of a land sale to national homebuilder KB Home (specifically KBHPNW LLC), which was completed on February 13, 2024.
- Total Project Sale: KB Home paid an aggregated price of approximately US$9.47 million for a development tract consisting of 97 single-family home entitlements.
Reason for Settlement
The board of Renaissance United decided to settle to avoid the high costs and uncertainties of a trial by jury, which had commenced in January 2024. The litigation had lasted for years, revolving around a 2002 promissory note with complex payment clauses and an interest rate of 8% per month.
Outcome
- Company Liability: The Washington State Court of Appeals affirmed that the parent company, Renaissance United, was not the " alter ego" of Capri and therefore not directly liable for Capri' s debts.
- https://storage.courtlistener.com/pdf/2023/03/21/sawyer_falls_co._llc_v._capri_investments_llc.pdf
- Remaining Assets: Following the settlement and the sale to KB Home, Renaissance United continues to hold approximately 300 to 350 acres of remaining land in the Falling Water project area for future development. (During AGM Held On 29 August 2025, The Executive Director mentioned the Management plans to engage with the relevant authorities to explore expansion re-zoning for the balance 80 acres of land. About previous document suggested balance of about 350 acres of land).
Remaining Land Development
The company is shifting its focus for the remaining 300 to 350 acres of the Falling Water project toward more diverse uses:
- Residential Planning: The company is currently in the planning stage for a new phase consisting of 261 residential lots.
- Diversification: Management is exploring more " lucrative developments" beyond standard housing. Current zoning permits include sports halls and community facilities, and they are working with advisors to maximize the value of these remaining parcels.
- Geographical Expansion: Outside of Washington, the group is expanding into Malaysia, recently acquiring a commercial building in the Pelangi district of Johor Bahru to generate rental income.
How Much Is The Balance 350 Acres Of Land In Tacoma Worth?
While a single consolidated valuation for the remaining 350 acres is not publicly disclosed as a lump sum, its value can be estimated based on the company' s recent sales to national homebuilders.
Based on the February 2024 sale to KB Home, where 97 single-family home entitlements (a small fraction of the total land) sold for US$9.47 million, the remaining property is potentially worth tens of millions of dollars.
Estimated Valuation Breakdown
- Per-Lot Value: The 2024 sale suggests a value of approximately US$97,600 per entitled lot.
- Planned Development: Renaissance United is currently planning a new phase of 261 residential lots. If these follow the same valuation trend, this phase alone could be worth roughly US$25 million upon entitlement.
- Acreage Potential: With 350 acres remaining, the total value depends on how many total lots the company can secure through the " Falling Water Preliminary Plat" extensions, which were recently extended for a 27th year in 2023.
- Diversification Value: The company is moving toward commercial and community facilities (like sports halls), which typically command higher per-acre values than standard residential zoning.
For Bro Who Want To Know More About The City Of Dawu & XiaoChang (Video In Mandarin)
https://www.youtube.com/watch?v=OXY7DFMhMnI& t=11s
City View Of AnLu
https://www.youtube.com/watch?v=hNfKyuLAapg
With reference to IPCO International Limited (now renamed Renaissance United Limited) and 500 million Annica shares.
" On 7 April 2016, IPCO International entered into an agreement to sell its remaining 20% stake (98,900 shares) in Industrial Engineering Systems Pte Ltd (IES) to Annica Holdings. On 27 April 2016, the Disposal has been completed. Pursuant to the terms of the Agreement, the Company has been allotted the Consideration Shares with aggregating a dollar value of S$500,000.00 and a Promissory Note of S$100,000.00"
Renaissance Will Likely Make An Announcement Whether The Company Will Subscribe To The Rights Shares & Excess Rights In Due Course!
MaxStar International Sdn Bhd Revamped Website!
https://www.maxstarint.com/
Established in Johor Bahru, Malaysia since 2019, our factory specializes in producing durable, high-quality wooden cabinetry and wardrobes&mdash primarily for export to the USA while also serving local contracting projects. We handle projects of all sizes with strong flexibility in customization, tailoring each solution to meet specific design, space, and functional requirements.
With The Recent Approval On 9 April 2026 On The Consolidation Of Every 150 Annica' s Shares Into 1 Shares And Renounceable Non-Underwritten Rights Issue On The Basis Of 6 Rights Shares For Every 5 Consolidated Shares At Issue Price Of S$0.034
Hopefully Renaissance' s Management Can Subscribe For Excess Rights Shares On This Turnarouund Company. Annica Had Recently Aquired Land And Production Plants In Perak Malaysia, With 14 Sets Of Vertical Automatic Waste Tyre Pyrolysis Production Lines.
With The 500 Millions Share Previously Owned By IPCO, The Management Can Jump Onto This " Green Energy" Bandwagon And Enjoy The Ride To Profits And Capital Gain In Upcoming Quarters!