Interim Results

RNS Number:6264J
Asia Capital PLC
29 September 2006



Asia Capital plc


('Asia Capital' or 'the Company')


Interim results for the six month period ended 30 June 2006


Asia Capital plc (AIM: ASI), an investment company, announces its financial
results for the six month period ended 30 June 2006.


CHAIRMAN'S STATEMENT


I am pleased to report the interim results for Asia Capital for the six month
period ended 30 June 2006.


Pre- and post- tax losses for the period were #65,000, a reduction on the loss
of #69,000 in the corresponding period last year. The loss per share for the
period remained unchanged at (0.08p).


During the period Asia Capital has continued to seek a suitable acquisition for
a reverse takeover of the Company. However, to date we have been unable to
identify a suitable transaction.  As a result, and in accordance with the AIM
rules, the Company's shares were suspended from trading on AIM on 22 September
2006.  If a transaction has not been announced before 23 March 2007, the
admission to trading on AIM will be cancelled.


We continue to believe that Asia Capital is an attractive shell company for a
business seeking an existing stock market quote and tax losses. We intend to
continue our search for a suitable acquisition candidate with the objective of
completing a transaction and allowing trading in the Company's shares to resume.



Nigel Robertson
Chairman
29 September  2006




Consolidated Profit and Loss Account
For the six months ended 30 June 2006 (unaudited)


                                           6 months ended 30     6 months ended 30         12 months to
                                               June 2006             June 2005         31 December 2005
                               Note           (unaudited)           (unaudited)            (audited)
                                                 #000                  #000                    #000

Administrative expenses                          (65)                  (42)                   (247)

Operating profit (loss)                          (65)                  (42)                   (247)

Interest receivable and                            -                     -                       1
similar income

Interest payable and                               -                   (27)                    (55)
similar charges

Loss on ordinary                                 (65)                  (69)                   (301)
activities before taxation
                                         


Taxation on loss on              3                 -                     -                      -
ordinary activities

Loss after taxation                              (65)                  (69)                  (301)

Loss per share-basic and         4             (0.08)p               (0.08)p                (0.37)p
diluted                          
                                                


All recognised gains and losses have been included in the profit and loss
account.

All amounts relate to continuing activities.


Consolidated Balance Sheet
At 30 June 2006 (unaudited)


                                         30 June               30 June               31 December
                                            2006                 2005                    2005
                                        (unaudited)           (unaudited)              (audited)
                                            #000                 #000                    #000
Fixed Assets
Tangible Assets                                -                    4                       -

Total Fixed Assets                             -                    4                       -
Current Assets/(Liabilities)

Cash                                          16                  115                      13

Debtors                                       15                   35                      14

Creditors: amounts falling due            (1,635)              (1,286)                 (1,566)
within one year

Total Assets less Current                 (1,604)              (1,132)                 (1,539)
Liabilities

Creditors: amounts falling due                 -                    -                       -
after more than one year

Net Liabilities                           (1,604)              (1,132)                 (1,539)

Capital and reserves
Share capital - Issued and fully             823                8,230                    8,23
paid
            - Deferred                    44,064               36,657                  44,064

Share premium account                      9,804                9,804                   9,804

Profit and loss account                  (56,295)             (55,823)                (56,230)

Shareholders' deficit                     (1,604)              (1,132)                 (1,539)



Consolidated cash flow statement

For the 6 months ended 30 June 2006 (unaudited)


                                    6 months ended 30     6 months ended 30      12 months ended 31
                                        June 2006             June 2005            December 2005
                                       (unaudited)           (unaudited)             (audited)
                                          #000                  #000                    #000

Net cash outflow from operating            (67)                  (54)                    (69)
activities


Returns on investments
and servicing of finance

Interest received                            -                     -                      1

Interest payable                           (30)                  (25)                   (55)

Net cash flow from returns on              (30)                  (25)                   (54)
investments and servicing of
finance

Financing
Issue of loans                             100                   100                    129


Net cash inflow from financing             100                   100                    129

Increase in cash                             3                    21                      6


Notes to the Interim Report


1  BASIS OF PREPARATION

The interim accounts for the six months ended 30 June 2006 are unaudited and do
not constitute statutory accounts in accordance with section 240 of the
Companies Act 1985.



The financial information has been prepared in accordance with applicable
accounting standards and under the historical cost accounting convention.



Accounting policies consistent with those applied in the financial statements
for the year ended 31 December 2005 have been used in preparing the unaudited
interim financial statements for the 6 months ended 30 June 2006.



2  DIVIDENDS

The Directors are not declaring a dividend for the six months ended 30 June
2006.



3  TAXATION

There is no tax charge for the period due to the loss arising.



4  LOSS PER SHARE

The calculation of the loss per share is based on the loss for the period of
#65,000 (30 June 2005 - #69,000; 31 December 2005 - #301,000) and the weighted
average number of shares in issue during the period of 82,302,984. The loss per
share has been calculated based on the reorganised share capital and the 2005
comparative has been restated. A diluted earnings per share is not presented
because the options in issue are non-dilutive.



5  COPIES OF INTERIM RESULTS

Copies of the interim results will be sent to shareholders and will be available
from the company's registered office, 22 Soho Square, London W1D 4NS.








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