HWH International Sells 70% Stake in Alset F&B

The transaction reflects HWH’s strategic refocus, with continued minority ownership preserving future upside.

September 17, 2025

Majority Stake Sold in Singapore Subsidiary

On September 10, HWH International sold 70% of its Singapore-based subsidiary, Alset F&B One Pte. Ltd., to a related party for roughly $170,754 USD. The move reflects a shift in focus for the company, allowing it to reduce its exposure to day-to-day food and beverage operations while still maintaining a minority interest.

Alset F&B One, which opened in 2017, runs a café in Singapore and brought in about $470,000 in revenue last year. The buyer, Alset International Limited, is already a major shareholder in HWH and shares board leadership. Chan Heng Fai, who chairs both companies, also serves as CEO of the buyer. Two additional HWH board members—Wong Shui Yeung and Wong Tat Keung—also hold director roles at Alset International.

Through this transaction, HWH’s Singapore subsidiary, Alset F&B Holdings, receives payment in Singapore dollars—S$218,941.26. The company now retains a 20% stake in Alset F&B One, keeping a foothold in the business without full operational responsibility.

Financial Impact and Disclosures

To give investors a clear view of the financial impact, HWH filed unaudited pro forma financials alongside the agreement. These materials outline how the deal affects the company’s consolidated results moving forward.

While the transaction involves related parties, the structure is straightforward: a direct sale between affiliates, completed on the same day the agreement was signed. The full terms, along with supporting exhibits, were filed with the SEC to ensure transparency.