China Private Equity Investment Holdings Limited (AIM: CPEH)
("CPE" or the "Company" or "Group")
Final Results for the year ended 31 December 2012
Highlights
· Consolidated net asset value of US$23.2 million (2011: US$33.4 million) · Consolidated net asset value per share of US$0.30 (2011: US$0.44) · Continued exploration of opportunities for long term growth despite external pressures · Key long-term strategic alliance agreed with Hong Kong-based independent asset management firm Gen2 Capital Partners Limited - since renamed Adamas Asset Management ("Adamas"). · Successful secondary listing on the Frankfurt exchange, providing additional liquidity in trading of Company's shares · Stakes acquired in two companies listed on Bursa Malaysia, Patimas Computer Berhad ("Patimas") during January 2013, and Asia Bioenergy Technologies Berhad ("ABT") in May 2013. · Two key holdings - Enfinium International Holdings Limited ("Enfinium") and Fortel Technology Holdings Limited ("Fortel") impacted financial results, but seen by the Board as temporary setback.
John Croft, CPE's Chairman and CEO commented: "With little relief in the pressure on global economies, and continued heightened risk in the private equity investment sector, the year to 31 December 2012 was undoubtedly a challenging period for CPE. There is no doubt it is taking longer than we hoped for our investments to generate returns for our investors, and while we remain confident that positive returns will ultimately be delivered, we have taken a strategic decision to target much of our new investment in assets with an income stream either in the private equity sector or, as evidenced by our recent investments in Patimas and ABT, in suitable publicly-quoted companies. We believe this will provide a better balance between longer term returns and liquid assets for our investment portfolio.
"It is in support of this strategy that we are building closer ties with Adamas, which typically invests in high yield assets in Greater China. Our plan is to co-invest with Adamas where synergies are strong, and to share resources as much as possible to improve efficiencies within both businesses.
"I remain confident that our strategy shift towards more liquid and income-generating assets, underpinned by our strong relationship with Adamas, will deliver improved returns for shareholders, in the medium term."
Do not to worry about this if CPE was still hold the Patimas share. Additional the company must come the good proposal or restructure plan in Sept this year.
Date of change 04/07/2013 Name ONG TEE KEIN Age 56 Nationality MALAYSIAN Type of change Appointment Designation Non-Executive Director Directorate Independent & Non Executive Qualifications He is a member of the Malaysian Institute of Accountants, Associate of The Institute of Chartered Secretaries and Administrators and holds a Master Degree in Business Administration. Working experience and occupation He has several years of experience in industry and consultancy practice. Directorship of public companies (if any) 1. Mlabs Systems Berhad 2. Sanichi Technology Berhad 3. Advance Information Marketing Berhad 4. Biosis Group Berhad Family relationship with any director and/or major shareholder of the listed issuer Nil Any conflict of interests that he/she has with the listed issuer Nil Details of any interest in the securities of the listed issuer or its subsidiaries Nil
Announcement Info Company Name PATIMAS COMPUTERS BERHAD Stock Name PATIMAS Date Announced 4 Jul 2013 Category Change in Boardroom Reference No CC-130704-44676
Ha! Ha!... I am still playing poker w this counter. Don't think any big movement is coming for this counter for 2013 unless ppl goring. I am still hoping for 2014 though...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Esque
29 posts
Posted by Esque > 2013-06-28 07:44 | Report Abuse
should be hole in pocket