Special Situations
Some of the most asymmetric outcomes in Asian capital markets come from situations most investors avoid: judicial management, schemes of arrangement, distressed creditors, complex corporate transitions. These are situations where capital alone is rarely enough — what’s required is procedural fluency, patience, and the ability to engage constructively with judicial managers, creditors, regulators, and operating management to shape a workable resolution.
Hinterland engages selectively in special situations where
- Procedural complexity has driven away competing capital — and the underlying business or assets remain sound
- A constructive resolution exists that materially improves outcomes for creditors, shareholders, and the company alike
- We can add more than money — through governance, operating expertise, and the credibility of long-term commitment
One such flagship engagement is USP Group Limited (SGX:BRS), where Hinterland is a substantial shareholder and has been an active force in shaping the company’s restructuring. USP holds two of Singapore’s longest-established industrial businesses — Scientific & Industrial Instrumentation (SII, since 1975) and Supratechnic (since 1968). Together they represent decades of customer relationships, technical accreditation, and regional reach across Singapore, Malaysia, and Indonesia. The restructuring is the foundation for the next chapter.