We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Asia Wealth Group Holdings Ltd | AQSE:AWLP | Aquis Stock Exchange | Ordinary Share | VGG0540E1097 | Ordinary shares |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 32.50 | 25.00 | 40.00 | 32.50 | 32.50 | 32.50 | 0.00 | 06:55:34 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMAWLP
FOR IMMEDIATE RELEASE
18 October 2016
Asia Wealth Group Holdings Limited
("Asia Wealth" or the "Company")
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHSED 31 AUGUST 2016
The Board is pleased to report the unaudited interim results of Asia Wealth
Group Holdings Limited ("Accounts") for the period from 1 March 2016 to 31
August 2016. These Accounts have been prepared under IFRS and will shortly be
available via the Company's website, www.asiawealthgroup.com.
Chairman's Statement
Financial Highlights
The highlights for the six months ended 31 August 2016 include:
* Consolidated revenue of US$600,649 (2015: US$578,183)
* Operating profit for Meyer Group of US$254,371 (representing a gross margin
of 43%) (2015: US$338,369 and 60%)
* Cash at bank and on hand of US$1.368m at 31 August 2016 (2015:US$1.5m).
The Group reports a loss after tax of US$11.057 on sales of US$600,649 for the
six months ended 31 August 2016. These sales were generated by the Company's
wholly owned subsidiary, Meyer Asset Management Ltd., BVI. This slight
improvement in profitability was principally caused by expense reduction.
Cash balance has decreased by US$86,915 and net assets by US$52,096,
respectively, since 1st March 2016.
The Board has taken, and is continuing to forge new revenue generating
relationships, as well as expanding revenue creating opportunities, in both new
avenues and existing. We continue to seek alliances and partnerships with firms
in the same and new sectors.
Asia Wealth continues to seek investment opportunities in the Asia region and
is currently engaged in multiple discussions on various potential acquisitions.
The Directors continue to run the business in a cost-effective manner.
The Accounts have not been audited or reviewed by the Company's auditors.
The Directors of the Company accept responsibility for the content of this
announcement.
Richard Cayne
Executive Chairman
Contacts:
Richard Cayne (Executive Chairman)
Asia Wealth Group Holdings Limited, +66 2 2611 2561
www.asiawealthgroup.com
Guy Miller (Corporate Advisers)
Peterhouse Corporate Finance Limited, +44 20 7220 9795
EXTRACTS ARE SET OUT BELOW:
ASIA WEALTH GROUP HOLDINGS LIMITED
Consolidated Statement of Financial Position
At 31 August 2016
All amounts stated in U.S. Dollars
31 Aug 2016 31 Aug 2015
Non-current assets
Fixed assets 36,974 51,520
Investments 358,208 356,805
395,182 408,325
Current assets
Cash and cash equivalents 1,368,304 1,518,646
Trade receivables 197,896 232,734
Prepayments and other assets 75,626 89,450
1,641,826 1,840,830
Total assets $ 2,037,008 $ 2,249,155
Equity
Share capital 913,500 913,500
Share-based payment reserve 35,423 35,423
Consolidation reserve 401,057 399,585
Translation reserve
(7,571) (9,605)
Retained earnings (273,379)
(168,854)
Current earnings (11,057)
(22,301)
Total equity 1,057,973 1,147,748
Non-current liabilities
Liabilities under finance lease 3,730 5,958
agreement
Current liabilities
Trade payables 951,222 1,055,115
Liabilities under finance lease - -
agreement
Other payables and accrued expenses 24,083 40,334
975,305 1,095,449
Total liabilities 979,035 1,101,407
Total equity and liabilities $ 2,037,008 $ 2,249,155
ASIA WEALTH GROUP HOLDINGS LIMITED
Consolidated Statement of Comprehensive Income
For the half year ended 31 August 2016
All amounts stated in U.S. Dollars
Mar - Aug Mar - Aug
2016 2015
Revenue 600,649 578,183
Expenses
Commission 338,235 227,539
Professional fees 66,863 88,228
Wages and salaries 79,295 78,437
Directors' fees 101,106 100,801
Travel and entertainment 24,800 37,616
Office expenses 4,231 8,767
Rent 18,556 18,170
Marketing expenses 6,427 15,795
Communication 2,804 2,906
Depreciation 7,117 11,908
Bank charges 3,331 3,480
Sundry expenses 5,905 4,236
658,670 597,883
Net profit/(loss) from operations (58,021) (19,700)
Other income/(expense)
Initial public offering expenses -
-
Foreign exchange gain/ 43,334
(loss) (1,698)
Interest Income 5,329 1,185
Investment income - -
48,663 (513)
Net profit/(loss) before finance cost (9,358) (20,213)
Finance cost
Interest expense/ (1,699) (2,088)
(income)
Net profit/(loss) before (11,057) (22,301)
taxation
Taxation - -
Total comprehensive income $ (11,057) $ (22,301)
ASIA WEALTH GROUP HOLDINGS LIMITED
Consolidated Statement of Changes in Equity
For the half year ended 31 August 2016
All amounts stated in U.S. Dollars
31 Aug 2016
Share Capital Share-based Consolidation Translation Retained Current Equity
Payment Reserve Reserve Earnings Earnings
Reserve
Note Number US$
Balances at beginning of 11,433,433 $913,500 $35,423 $399,585 $(9,605) $(168,854) $ $1,147,748
year (22,301)
Issuance of share capital 4 - - - - -
Issuance of share options 2(n), - - - - - - - -
5
Issuance of share 2(n), - - - - - - - -
warrants 5
Translation differences 2(f) - - - $1,472 $2,034 - - $3,506
Total comprehensive - - - - - $(104,525) $11,244 $(93,281)
income
Balances at end of year 11,433,433 $913,500 $35,423 $401,057 $(7,571) $(273,379) $ $1,057,973
(11,057)
31 Aug 2015
Share Capital Share-based Consolidation Translation Retained Current Equity
Payment Reserve Reserve Earnings Earnings
Reserve
Note Number US$
Balances at beginning of 11,433,433 $35,423 $404,227 $(2,732) $(129,463) $71,156 $1,292,111
year $913,500
Issuance of share capital 4 - - - - -
Issuance of share options 2(n), - - - - - - - -
5
Issuance of share 2(n), - - - - - - - -
warrants 5
Translation differences 2(f) - - - $(4,642) $(6,873) - - $(11,515)
Total comprehensive - - - - - $(39,391) $ $(132,848)
income (93,457)
Balances at end of year 11,433,433 $35,423 $399,585 $(9,605) $(168,854) $ $1,147,748
$913,500 (22,301)
ASIA WEALTH GROUP HOLDINGS LIMITED
Consolidated Statement of Cash Flows
For the half year ended 31 August 2016
All amounts stated in U.S. Dollars
Mar - Aug Mar - Aug
2016 2015
Operating activities
Profit/(Loss) (11,057) (22,301)
Add back Depreciation 7,119 11,908
Add back Foreign Exchange Adjustments (41,039) (10,219)
Receivables 134,742 79,969
Prepayments and Deposits 2,318 (26,888)
Payables 15,914 (132,555)
Trade Creditors and Other Liabilities (16,594) (56,116)
Cash flows from operating activities 91,403 (156,202)
Investing activities
Acquisition of fixed assets (3,253) 5,497
Investments (1,235) (26,233)
Cash flows from investing activities (4,488) (20,736)
Financing activities
Share issues - -
Cash flows from financing activities - -
Net increase/(decrease) in cash and cash 86,915 (176,938)
equivalents
Cash and cash equivalents at beginning of 1,281,389 1,695,584
year
Cash and cash equivalents at end of period $ 1,368,304 $ 1,518,646
Cash and cash equivalents comprise cash at
bank.
END
(END) Dow Jones Newswires
October 18, 2016 08:45 ET (12:45 GMT)
1 Year Asia Wealth Chart |
1 Month Asia Wealth Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
