Loh's high road

Malaysian entrepreneur Kevin Loh, who is raising £2.6 million on PLUS for drinking water vending machine group Matrix Valley, has found floating in London a bracing experience. Loh, who started the company with a group of fellow Malaysia University graduates, has already raised £609,000 at the company’s PLUS launch through the good offices of colourful adviser Andrew Greystoke’s Atlantic Law.

He is now confident his company’s 70 per cent domestic market share, impressive growth and projections, equity backing from the Malaysian Government and overseas expansion plans in the region and beyond will woo London punters. Indeed, an eventual AIM move is on the cards.

Another eastern entrepreneur impressed with Matrix Valley’s prospects is Johnny Hon, the Hong Kong lawyer whose Betex lottery group recently had a spot of bother in China with official allegations against its executives there. According to Loh, Hon, whose Global Education and Global Entertainment groups have also been advised by Atlantic Law, made a pre-float offer for Matrix.

Loh says he did not like the price so floated instead.