💰 Contribution Ledger

This page explains the family’s money rule in one line: what you put in is what you own. The Contribution Ledger is the single source of truth for who contributed what — cash, land, business assets, or documented work — and shares in Bhuiyan Holdings Pte. Ltd. follow the ledger exactly. Nothing is diluted by talk, and no one’s contribution is forgotten.

How it works — four steps

1. You contribute. Cash, an asset (land or a business asset), or an agreed working role — each contribution is agreed by the family council before it is accepted. Earlier pledges in the Commitment Deed are indicative only: you remain free to change them, and nothing binds until you sign the Formation Documents.
2. The ledger records it, with evidence. Every entry carries a link to its proof — the bank record, the valuation report, the registration papers, or the council resolution. No evidence, no entry.
3. At Formation, entries convert to shares. Under the Shareholders’ Agreement, subscribing adults receive Class A ordinary (voting) shares alongside the Trustee; children’s entitlements are held through the trust as Class B non-voting shares until age 21. Shares are issued only against signed ledger entries, at a price set by the most recent independent valuation.
4. Dividends and exits follow the same ledger. Your share of recorded contributions is your share of any dividend — and if a branch ever chooses to leave, the exit price follows those same proportions at fair value (see the FAQ for exit terms). One honest note: in the first three financial years, at least 70% of profits are reinvested, with the education fund as first charge.

The principle, in the Shareholders’ Agreement’s own words (clause 3, the issue rule):

“New shares are issued only against entries in the signed Contribution Ledger, at a price set by the most recent independent valuation. Contribution in, ownership out — the same rule for every branch.”

What counts — and what does not

Contribution	How it is valued	Evidence recorded in the ledger
Cash	The amount actually paid in	Bank transfer or deposit record
Land or property	Registered value at the time of transfer — and transfers happen only at Formation, in writing	Independent valuation and registration papers
Business assets	Valued by the agreed method — an independent valuer, as the Charter requires	Valuation report
Documented work for the holding company	Council-approved rate, fixed by a council resolution	Council resolution number and work record

What does not count: promises, verbal claims, or “everyone remembers I helped”. The Charter protects in both directions — no member’s personal property moves into the structure unless that member subscribes it in writing, and no contribution earns ownership without a signed ledger entry.

A worked example — hypothetical numbers

The members and amounts below are invented, purely to show the arithmetic. In this illustration, one unit is issued per dollar recorded.

Member (hypothetical)	Recorded contribution	Units	Share of pool
Member A	$10,000 cash (bank evidence)	10,000	10%
Member B	Land independently valued at $60,000, transferred at Formation	60,000	60%
Member C	$20,000 cash + $10,000 of council-approved work	30,000	30%
Total	$100,000 recorded	100,000	100%

If this pool later declared a $10,000 dividend, Member A would receive $1,000, Member B $6,000 and Member C $3,000 — the ledger’s proportions exactly, nothing more and nothing less. An exit is priced on the same proportions.

For our own family, the initial pool discussed is about $1.8 million — a working figure under discussion, to be confirmed at council. Singapore counsel will settle the final share pricing and wording before anyone signs; the principle itself does not change.

Open the ledger