Simson Wellness Sdn. Bhd.

Simson Wellness Sdn. Bhd. with its members who has more than 30 years’ experience in the optical industry, sets its vision to be the leading Malaysian Optical Distribution Digital Platform Worldwide. With first hand understanding of the obstacles faced by the industry, Simson Wellness Sdn. Bhd. has created a platform to bring the manufacturers / distributors closer to the end market and retailers. This innovative platform, will reduce the obstacles and promotes growth of the eyewear industry which is a dynamic and competitive industry.

Simson’s online platform promotes simplified methodology of “Manufacturers to End-Users – One Portal to Major Distributors”.

Campaign Closed RM 1,023,500 raised

205% of target	0 days left
Investors	31
Min Target	RM 500,000
Max Target	RM 2,000,000

Introduction

Simson Wellness Sdn Bhd. is a digital platform that acts as middleware for the distribution of optical products. In the pipeline, Simson Wellness Sdn. Bhd. is planning to consolidate the business of Bolton Optical Group, Simson Trading Sdn. Bhd. and Simson Wellness Sdn. Bhd. after listing in the US Capital Market.

Bolton Optical Group of Companies (BOG) was established in 1992, with its core businesses in optical products as distributor and manufacturer in Malaysia.

With the flagship house brand “Simvue” and "Carlo Reno", the group also designs, produces and distributes high-quality optical products consisting of frames, lenses, contact lenses, contact lenses solutions, optical instruments and optical accessories in Malaysia.

BOG owns more than 60 retail eyewear outlets and have approximately 1,800 direct dealing outlets in its portfolio and has expanded its business overseas to cover Singapore, Brunei, Thailand, Vietnam, Cambodia, Laos, Hong Kong, Macau and Taiwan.

What We Do

The Challenge

The Pain Points of Small Optical Retailers in Malaysia:

Limited Source of Supply
With major distributors preferring to have a few major accounts instead of a list of small retailers.
Higher Cost
Cost per unit is higher due to small order quantity and also higher deposits and shorter terms given.
Limited Range
Smaller retailers are unable to stock a wide range of products due to minimum order quantity required and also higher cost per unit would limit such orders.
Different Ordering Requirements
Small retailers with limited resources would find it time consuming and tedious with different ordering requirements.
Lack of Product Knowledge and Training
Small optical retailers have limited resources and miss out on distributors’ training.

For Manufacturers / Distributors in Malaysia:

Market
For overseas manufacturers / distributors to penetrate the local market with their products would take time as they will need to understand the local culture, buying requirements, sentiments etc.
High Cost & Time Consuming
Time required to set-up a company, hiring etc.

Our Solution

With the platform, retailers are able to:

Eliminate Limited Source of Supply
With this platform, this will eliminate multiple account opening and compliance requirements by different distributors. Also, it allows retailers to browse through what they would require.

Cost Control
Retailers can order stocks whenever required rather than having to keep stock (i.e. MOQ requirement). Also cost price is fixed without having to go through alternative suppliers.

Limited Range
Smaller retailers are unable to stock wide range of products due to minimum order quantity required and also higher cost per unit would limit such orders.

Single Ordering Requirement
Ordering method and requirements are standardized, therefore making it easy and save time when ordering.

Availability of Product Knowledge and Training
Product information and online training information is available on a single platform.

Logistics
Planned delivery timeline and stocks holding and handling is minimal.

With the platform, Manufacturers / Distributors are able to:

Market
Provide a platform for manufacturer / distributors to penetrate the local market without having to set-up a company or hiring etc..

Reduces Costs
Promotes cost savings (i.e. company set-up not required, hiring etc.)

Logistics Efficiency
Manufacturers / Distributors are able to plan their stock holding and with the assistance of local logistics partners (warehousing & transporters), will enjoy effective and efficiency in delivery and stock holding costs.

Why Are We Different

With this online platform, Simson Wellness Sdn. Bhd. provides solution to retailers to solve their pain points. They would be able to go online to secure optical products from manufacturers / distributors without going through tedious processes and most importantly able to obtain a wide range of varieties at competitive prices without restrictions.

Below is the diagram showing the general business model process:

With this platform, Simson Wellness Sdn. Bhd. is able to standardized ordering and delivery procedures. It provides easy and systematic stock ordering requirements via Simson’s online platform where retailers can select what to purchase. As for manufacturers / distributors registered with Simson Wellness Sdn. Bhd. , they are able to list their goods and services for sales.

Our Revenue Model

Currently, Simson is the main distributor to supply all range of optical products in their digital platform and moving forward will partner with other distributors to supply to optical retail stores.

According to the revenue model year 2021, with the introduction of digital platform, Simson believes it can attract a large number of retail stores from current optical retails stores in the market and targeted to double up the user base in year 2021 with an estimated increase in yearly sales volume of 401,427 as compared to 65,000 of sales volume as at year 2020.

Furthermore, in year 2021, Simson projected their revenue will increase from existing 2.5 million to 20 million and expected to double up in year 2024 at approximately 40 million.

Our Market Opportunity

Our Strategy

Digital marketing – online advertisement is the immediate key focus to expand the existing branding to a wider targeted audience. Apart from that, continuous expansion of the product database (engage more international distributors into this platform) and building up loyalty membership benefits to retain the targeted audience as well as providing attractive incentives to acquire new members.

We also look at the strategy to secure the sole distribution from key distributors in the Malaysian market which translate this platform to be the sole platform for certain high demand optical products.

Nevertheless, diversification strategy is to be applied as well to the medium-term planning, whilst looking to diversify the products and improve the mechanics on how it works in the industry. With the ultimate goal of integrating the eyewear product manufacturer grit, we can then transform the platform into end-to-end service providers to the targeted audience at global scale, as a One Stop Solution provided in the eyewear industry.

Our Achievements

Indicative Usage of Funds

The Team

Datuk Patrick Sim Eng Peng

Chief Executive Officer

Weasley Sim Ken Yang

Chief Financial Officer

Kenny Sim Eng Kap

Chief Technical Officer

Term Sheet

Issuer: Simson Wellness Sdn Bhd, a private company limited by shares incorporated in Malaysia, a private limited company incorporated in Malaysia

Type of Equity: Redeemable Preference Shares (the “Shares”)

Fund Raising Period: 90 days

Pre Money Valuation: RM9,000,000

Minimum Fundraising Target: RM 500,000

Maximum Fundraising Target: RM 2,000,000

Price per Share: RM 2.00

Minimum Equity Offered

Maximum Equity Offered

Minimum Shares Offered

Maximum Shares Offered

Minimum Investment Amount: RM 3,000

Rewards: Reward(s)

Class 1: Investments in the range of RM 3,000.00 to RM 9,999.00

The owner of Shares within this class (with a minimum investment amount of RM 3,000 to RM 9,999 in value) shall be entitled to a 10% platinum cash voucher.

Reward(s)

Class 2: Investments in the range of RM 10,000.00 to RM 29,999.00

The owner of Shares within this class (with a minimum investment amount of RM 10,000 to RM 29,999 in value) shall be entitled to a 15% platinum cash voucher.

Reward(s)

Class 3: Investments in the range of RM 30,000.00 and above

The owner of Shares within this class (with a minimum investment amount of RM 30,000 and above in value) shall be entitled to a 20% platinum cash voucher.

Impact on Shareholding Structure Upon Completion of the Offering

Investor Eligibility: Retail, Angel, Sophisticated, and/or Institutional Investors, subject to the applicable investment limits prescribed under the Securities Commission’s Guidelines on Recognised Markets.

Pre Emptive Rights: The owner of the Shares is deemed to have agreed to waive its pre-emptive rights, if any, under section 85 of the Companies Act 2016.

Type of Shares

Redeemable preference shares (“RPS”) with the following terms:

1. Dividend

The holders of RPS shall be entitled to dividends at a rate of 4.00% per annum on the Investment Amount. It is payable annually at the end of each financial year for 3 years. Any dividends not declared will be accumulated to the next year and paid in that financial year within these 3 years.

2. Redemption or Acquisition

Upon the expiry of 3 years post the date of issuance of the Shares (or at any time prior thereto) (the “Maturity Period”), and in the case of an IPO exercise which have been approved for the issuer or the issuer’s holding company (in either case, the “IPO Company”), the Issuer of RPS shall be entitled to request the RPS holder to redeem or sell all the RPS held by the holder of RPS to the IPO Company by providing written notification to the RPS holder, and in return, the investors shall be allotted new ordinary shares worth minimum USD 1 in issuance price of the IPO Company for each RPS held subject to rounding up or down at the discretion of the Issuer should there be shares in decimal numbers. Such redemption or acquisition shall be completed within twelve (12) months from the date of issue of the written notification to the Investor by the Issuer.

For the avoidance of doubt, an IPO is deemed approved upon the Existing Shareholder or IPO Company receives written approval from the relevant regulator in such IPO exercise.

3. Ranking

The RPS shall rank in priority to the ordinary shares of the Company in dividends accrued during the Maturity Period and upon any liquidation event.

Information

Closing Period: 14 working days after the end of the Fundraising Period.

Use of Proceeds: 70% for business expansion / penetration into ASEAN and RECEP ; 15% for working capital & human resource development; and 15% for research & development into an integrated platform.

Subscription Procedure: An Investment Agreement (with an Annexed Partnership Agreement) for the subscription of the Shares (subject to review if required or necessary).

Disclaimer

The information, calculations and remarks expressed on this term sheet or on any other part of the platform are based on information provided, disclosed and presented by the Issuer, Simson Wellness Sdn Bhd to Ata Plus Sdn Bhd, either in part or in whole. Ata Plus disclaims responsibility for the accuracy, completeness and/or validity of these information, and hence will not be held liable for any inaccurate, inappropriate or incomplete information presented on this term sheet or on any other part of the platform subject to the following:

The financial information listed on the deal page is provided by the Issuer; which includes the financial forecasts and projections, the capitalisation table, the term sheet, and management accounts.

The financial forecasts and projections have been prepared by the Issuer based on assumptions that have not been reviewed and certified by an independent certified accountant for its reasonableness.

THE ISSUER agrees that; all information concerning the product, business and the assets of THE ISSUER that have been furnished to Ata Plus Sdn Bhd for the purpose of the equity crowdfunding campaign is true, complete, and accurate in all material respects and is not misleading or deceptive whether by inclusion or omission.

Should the Investor require more information, they can do so by contacting Simson Wellness Sdn Bhd directly at +6012 491 3100 or [email protected] by clicking on the ‘CONTACT’ button on the Deals Page.

Disclosure: This issuer is referred by a 3rd party which is . Ata Plus is not associated or related to the issuer and the referral party.

Disclaimer by Securities Commission

(i) No shares will be alotted or issued based on this document after six months from the closing of the offer period

(ii) This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007

(iii) This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.

Issuer	Simson Wellness Sdn Bhd, a private company limited by shares incorporated in Malaysia
Type of Equity	Redeemable Preference Shares (the “Shares”)
Fund Raising Period	90 days
Pre Money Valuation	RM9,000,000
Minimum Fundraising Target	RM 500,000
Maximum Fundraising Target	RM 2,000,000
Price per Share	RM 2.00
Minimum Investment Amount	RM 3,000
Rewards	Reward(s) Class 1: Investments in the range of RM 3,000.00 to RM 9,999.00 The owner of Shares within this class (with a minimum investment amount of RM 3,000 to RM 9,999 in value) shall be entitled to a 10% platinum cash voucher. Reward(s) Class 2: Investments in the range of RM 10,000.00 to RM 29,999.00 The owner of Shares within this class (with a minimum investment amount of RM 10,000 to RM 29,999 in value) shall be entitled to a 15% platinum cash voucher. Reward(s) Class 3: Investments in the range of RM 30,000.00 and above The owner of Shares within this class (with a minimum investment amount of RM 30,000 and above in value) shall be entitled to a 20% platinum cash voucher.
Investor Eligibility	Retail, Angel, Sophisticated, and/or Institutional Investors, subject to the applicable investment limits prescribed under the Securities Commission’s Guidelines on Recognised Markets.
Pre Emptive Rights	The owner of the Shares is deemed to have agreed to waive its pre-emptive rights, if any, under section 85 of the Companies Act 2016.
Type of Shares	Redeemable preference shares (“RPS”) with the following terms: 1. Dividend The holders of RPS shall be entitled to dividends at a rate of 4.00% per annum on the Investment Amount. It is payable annually at the end of each financial year for 3 years. Any dividends not declared will be accumulated to the next year and paid in that financial year within these 3 years. 2. Redemption or Acquisition Upon the expiry of 3 years post the date of issuance of the Shares (or at any time prior thereto) (the “Maturity Period”), and in the case of an IPO exercise which have been approved for the issuer or the issuer’s holding company (in either case, the “IPO Company”), the Issuer of RPS shall be entitled to request the RPS holder to redeem or sell all the RPS held by the holder of RPS to the IPO Company by providing written notification to the RPS holder, and in return, the investors shall be allotted new ordinary shares worth minimum USD 1 in issuance price of the IPO Company for each RPS held subject to rounding up or down at the discretion of the Issuer should there be shares in decimal numbers. Such redemption or acquisition shall be completed within twelve (12) months from the date of issue of the written notification to the Investor by the Issuer. For the avoidance of doubt, an IPO is deemed approved upon the Existing Shareholder or IPO Company receives written approval from the relevant regulator in such IPO exercise. 3. Ranking The RPS shall rank in priority to the ordinary shares of the Company in dividends accrued during the Maturity Period and upon any liquidation event.
Closing Period	14 working days after the end of the Fundraising Period.
Use of Proceeds	70% for business expansion / penetration into ASEAN and RECEP ; 15% for working capital & human resource development; and 15% for research & development into an integrated platform.
Subscription Procedure	An Investment Agreement (with an Annexed Partnership Agreement) for the subscription of the Shares (subject to review if required or necessary).
Disclaimer	The information, calculations and remarks expressed on this term sheet or on any other part of the platform are based on information provided, disclosed and presented by the Issuer, Simson Wellness Sdn Bhd to Ata Plus Sdn Bhd, either in part or in whole. Ata Plus disclaims responsibility for the accuracy, completeness and/or validity of these information, and hence will not be held liable for any inaccurate, inappropriate or incomplete information presented on this term sheet or on any other part of the platform subject to the following: The financial information listed on the deal page is provided by the Issuer; which includes the financial forecasts and projections, the capitalisation table, the term sheet, and management accounts. The financial forecasts and projections have been prepared by the Issuer based on assumptions that have not been reviewed and certified by an independent certified accountant for its reasonableness. THE ISSUER agrees that; all information concerning the product, business and the assets of THE ISSUER that have been furnished to Ata Plus Sdn Bhd for the purpose of the equity crowdfunding campaign is true, complete, and accurate in all material respects and is not misleading or deceptive whether by inclusion or omission. Should the Investor require more information, they can do so by contacting Simson Wellness Sdn Bhd directly at +6012 491 3100 or [email protected] by clicking on the ‘CONTACT’ button on the Deals Page.
Disclaimer by Securities Commission	(i) No shares will be alotted or issued based on this document after six months from the closing of the offer period (ii) This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007 (iii) This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.

Risk Disclaimer

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