Asia-Pacific Strategic Investments (APSI), a Catalist-listed company, has entered into two significant agreements with the Democratic Republic of Timor-Leste government to kickstart substantial economic ventures in the region.

On February 8, 2025, the firm signed cooperation agreements with the vice prime minister, coordinating minister for economic affairs and minister of tourism and environment of the Southeast Asian nation. These agreements mark APSI’s ambitious move to acquire an exclusive casino license and establish a banking institution in the country, reflecting a strategic diversification into the financial and gaming sectors.

Strategic expansion into Timor-Leste:

Under the terms of the casino cooperation agreement, APSI and its consortium plan to construct a five-star hotel equipped with a casino.

Under the terms of the casino cooperation agreement, APSI and its consortium plan to construct a five-star hotel equipped with a high-security, law-abiding casino. According to The Edge Singapore, the company stated, “The purpose of the Casino Cooperation Agreement is to outline the mutual understanding and intentions of the parties for developing tourism in Timor-Leste and to create employment as well as ancillary business opportunities to its people while contributing to economic development in Timor-Leste.

The company and its consortium will build a 5-star hotel including a respectable, high security, law abiding casino. We will develop strategic plans to promote marketing for international customers for hotel and casino; and propose strategic plans to promote tourism in other disciplines such as seaports, scenery, whale/dolphin/crocodile watching, yachting and scuba diving.”

This development is designed to attract international visitors and promote Timor-Leste as a vibrant tourist destination with offerings that extend beyond gaming to include seaports, yachting, and scuba diving. The country’s government has committed to facilitating this venture by issuing the necessary permits and ensuring regulatory compliance to smooth the operational processes.

Simultaneously, APSI is set to venture into the banking sector through a partnership with Banco Nacional de Comércio de Timor-Leste. To support these ambitious projects, APSI intends to raise US$100 million through the issuance of convertible bonds, primarily underwritten by its controlling shareholder, Oei Hong Leong. These funds will be allocated across the casino and banking projects, with substantial sums also earmarked for further business expansions within Timor-Leste and for general working capital purposes.

Regulatory and shareholder considerations:

Both agreements are set for an initial term of six months, with options for extension or termination upon mutual agreement. The realization of these projects is subject to approval by APSI shareholders at an upcoming extraordinary general meeting (EGM), where details of the business plans will be scrutinized and finalized.

The introduction of these ventures is timely, as Timor-Leste seeks to diversify its economy and boost tourist numbers, which have lagged behind its Southeast Asian neighbors. By integrating high-standard hospitality and secure financial services, APSI aims to position Timor-Leste as a compelling new destination on the global map of tourism and finance.

APSI has expressed a commitment to not only boost Timor-Leste’s economy but also to ensure that the projects align with sustainable practices and contribute positively to the local community. The company plans to implement strategic marketing initiatives to promote the natural and cultural heritage of the Southeast Asian nation, potentially transforming the country’s international tourism profile.