Share Name Share Symbol Market Type Share ISIN Share Description
London Asia Chinese Private Eq.F LSE:LCP London Ordinary Share GB00B0XF7K04 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 13.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 6.50

London Asia Chinese Private Eq.F Share Discussion Threads

Showing 201 to 225 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
20/2/2009
10:56
This is quite simply astounding in my opinion. I'll put it on the LDC thread too. Dalian Business Institute (Plus:DBIO) shares were suspended due to late results on the 2nd of February and the next day the company said it intended to delist. Since then Plus has received an objection to the delisting and the company has aborted its plan, however they say: '.......The Company's shares will remain suspended from trading on PLUS, and we do not anticipate a lifting of the suspension in the near future as the Company does not currently have the resources to be able to meet all the costs involved in maintaining the listing.........' http://www.plusmarketsgroup.com/story.shtml?ISIN=GB00B15CNR5... AND YET this company's interims to January 2008 (the most recently available numbers) showed revenues of 1.4 million and a profit of 553k. Net assets stood at over 13 million and cash and equivalents increased from 111k to 665k, while the then current liabilities amounted to a relatively tiny imho 114k. http://www.plusmarketsgroup.com/story.shtml?ISIN=GB00B15CNR5... How then this company cannot afford the Plus fee defies my own clearly inadequate powers of deduction. Answers on a postcard, bulletin board, blotting paper, well anywhere really, please............... ..............Then again at the bottom of this morning's RNS you might find a more apt place to try and seek the actual answer imho '...............For further information, please contact: Simon Littlewood Diana Chen London Asia Corporate Finance London Asia Corporate Finance................'
egoi
06/11/2008
10:29
Investors Chronicle when they covered the results. Not that I would buy for more than 10p myself.
robizm
06/11/2008
10:22
What is your source for this surprising comment, please?
buffin
06/11/2008
09:57
The auditors made them use a high NAV, the company wanted to use a lower amount. BUT it is a very high risk share
robizm
06/11/2008
09:49
Simon, you may well be right, but the market trusts nothing about this outfit, nor any of its directors - or NAV statements, whatever. I bought some a couple of years ago, and have watched the inexorable downward trend. I didn't sell - simply to teach myself a lesson. I did the same years ago with iii, luckily it was at the height of the dot com boom, so I was only able to subscribe for a few hundred iii shares. I have a distinct feeling that LCP paperwork will be going on the wall with the iii certificate.
damanko
06/11/2008
09:45
It's cheap because of the track record of management imho. And Director buys of this anbd 'related' stocks have not been a great indicator in the past DYOR - my personal opinion is that you might save yourself a few quid if you do - just reading back this thread and the LDC one might be a start.............
egoi
06/11/2008
09:39
Can't beleive these are so cheap. They have NAV of 140p, OK so this was back in August and alot has happened since. But even if we assume that all their investments have fallen 80% they should still be worth 28p. Director buying at 41p and a sale of one of their holding for £2m recently must value them mor than 11p.
simonparker5
05/11/2008
10:45
Getting stuffed today !
bsg
20/10/2008
15:17
Dear me. They are getting their snouts in the trough again. Its all about doing deals and earning commissions paid for by the fund and going into the pockets of Littlewood and CO.
robsy2
20/10/2008
09:19
Disposal of Holding in Asia Wind LACPEF (AIM: LCP), the China focused investment company, announces that it has sold its entire 11.11% holding in Asia Wind Group Limited ('Asia Wind') for a cash consideration of £2.0 million. The Company originally acquired the holding in November 2006 for £3.0 million. Simon Littlewood, Director of LACPEF, said: 'We have spoken recently with the majority of our shareholders and share their concerns about the large discount to published net assets per share at which the Company's shares are trading. We believe that accelerating the realisation of certain of the Company's investments should help reduce the discount. Because of its heavy reliance on debt for financing its projects, Asia Wind's business model has been severely affected by the credit crisis, which has forced it to postpone its plans until there is more stability in financial markets. With no expectation of being able to profit from our investment in Asia Wind in the short term until financial markets stabilise, and in the light of the discount at which the Company's shares currently trade, the Board has decided to dispose of the holding now at a loss, rather than wait for Asia Wind to be able to exploit its business model over the long-term, thereby freeing up some cash for other purposes.' http://www.investegate.co.uk/article.aspx?id=200810201005481942G&fe=1
buffin
09/10/2008
14:38
just spotted this on sharecrazy: LCP The Plot Thickens. Back in June I warned investors about the pompous-sounding London Asia Capital Private Equity Fund (AIM LCP). The published NAV was then 136p and the share price 75p. The share price is now 35p and the latest reported NAV is 143p. The market's refusal to believe in the stated NAV is understandable. The new auditors (the old ones resigned ) explain that the groups 14 illiquid assets are valued using "a variety of methods and makes assumptions based on the market conditions at the end of each balance sheet date" or to translate the valuations are what the directors tell us they are. Of the groups four investments listed on PLUS at the balance sheet date one, China New Energy (the groups largest single investment) has since been suspended, and two of the others China Biofuels and Dalian have not submitted audited accounts to Plus as required under the rules. What is perhaps most strange is that the group has booked through the P&L a\c around £7mn in performance fees due to its "investment consultant"London Asia Capital in the last two years of which the cash flow statement shows £3.1mn to have been paid already. London Asia Capital is suspended on Aim due to the non appearance of its accounts and its new CEO seems unclear as to where this money has gone. London Asia Capital has no executive directors and on my last look was being run from a language school in Falmouth Cornwall. Trying to find who exactly at the company is providing £7mn of advice to its client in two years is proving somewhat problematic. To recap: the company,s performance and the record keeping of the companies in which it has invested is highly questionable and the whereabouts of the fees it has paid out to its investment consultant are unknown by that consultant's own CEO. If this isn't one for AIMs regulators, I don't know what is.
handycam
08/10/2008
07:32
RNS Number : 3394F London Asia Chinese Private Equity 08 October 2008  For Immediate Release: 8 October 2008 London Asia Chinese Private Equity Fund Limited (the "Company") The Company was informed on 7 October 2008 that Insight Investment Management (Global) Ltd, a wholly owned subsidiary of HBOS plc, has reduced its interest in the Company by 861,590 ordinary shares of 1p each, taking its interest in the Company to 10,209,423 ordinary shares, representing 20.419% of the issued share capital. -ends- For further information please visit www.lacpefund.com or contact:
damanko
24/9/2008
08:35
Here is the text of the Chairman's statement in the annual report, released this morning. From a personal point of view, having bought the shares on a monthly basis until a year ago, I've watched the slide in share price with the same dismay as other holders. I considered selling when they made it down to 50 pence a few months ago. However, I decided against selling, just in case ...... Whether I will regret that decision (even more) - remains to be seen. The statement is very upbeat, but the market, unfortunately - is seldom wrong. Makes for interesting reading though: LONDON ASIA CHINESE PRIVATE EQUITY FUND LIMITED I am pleased to present the annual report and consolidated financial statements of London Asia Chinese Private Equity Fund Limited (the "Company") and its subsidiary (together the "Group") for the year ended 31 March 2008. Highlights • Net assets at 31 March 2008 £71.7 million (2007: £66.5 million), up 7.7% in the year; • Net assets equal to 143.32 pence (2007: 133.05 pence) per share; • Profit for the year £5.1 million, equal to 10.28 pence (2007: 36.75 pence) per share; • Profits of £1.7 million realised in the year from the sale of investments; • Other income of £1.1 million; • Investments up 63% on cost; • Appointment of Richard Battey as an additional Non-Executive Director and Diana Chen as Chief Operating Officer; and • Proposed change of name of the Company to China Growth Opportunities Limited. The Group has maintained its objective over the year of providing shareholders with capital growth from investing in a portfolio of companies whose business operations are based in China. Results Despite a very difficult business environment, your Group made solid progress during the year. The Group achieved a net profit for the year ended 31 March 2008 of £5.1 million, representing earnings per Ordinary Share of 10.28 pence. The net asset value at 31 March 2008 was £71.7 million (2007: £66.5 million), equal to 143.32 pence per Ordinary Share, an increase both over the 30 September 2007 net asset value of 136.71 pence and the 31 March 2007 net asset value of 133.05 pence. During the year the Group realised its entire holding in two investments and part of a third for £3.3 million at a very satisfactory profit of £1.7 million. The Group re-invested £2.5 million of these proceeds in June 2007 and now holds thirteen investments, which cost £44.4 million. At 31 March 2008 the investments had a fair value of £72.3 million (2007: £65.9 million), an unrealised gain of 63% on cost, and an increase of £6.4 million during the year. £9.5 million (13%) of the investments have been stated at original cost. Investments with an original cost of £34.9 million have been shown at a fair value of £62.8 million. Fair value was determined based on market price where the stock was quoted and there was deemed to be a liquid and active market, latest financing valuation where follow on financing was achieved, or a multiple of post tax profits for those investments illiquid, not quoted or re-financed. Of the thirteen investments, two were already listed in Singapore at the time we invested, and four floated on London's PLUS Market ("PLUS") post our investment. As at 31 March 2008, 49% of our investment portfolio (by fair value) was quoted on a combination of the Singapore Stock Exchange's Main Board and Catalist and PLUS. Investment Environment Since my appointment I have visited a number of portfolio companies and the Non-Executive Directors plan further portfolio visits in the fourth quarter of 2008. During the year, China's economy continued to record strong growth, though this has tailed off since the year end amid mounting concerns of the global slowdown, high commodity prices and inflation impacting Chinese growth. The Chinese Government adopted a policy of trying to dampen growth in order to reduce inflationary pressures and supply shortages, dampen speculation and attempt to allocate resources to more efficient, productive projects. These measures have included restrictions on lending by local banks, continuing controls on non-Chinese bringing money into China, and greater controls over licensing and permissions for projects. These measures have coincided with the global credit crunch and falling stock markets, with the Chinese stock market down over 50% from its October 2007 peak. This has resulted in a more difficult climate in which to realise investments, and to obtain new funding for our portfolio companies, particularly debt and structured finance, where it has been difficult to secure funding, or the terms are considerably less attractive than those previously available. This has had a significant negative impact on several of our investments, particularly the Singapore stock market listed water businesses, United Envirotech Limited and Asia Water Technology Limited, which are dependent on debt finance to expand their operations and saw considerable falls in value over the period and since the year end, which will impact on our 30 September 2008 half yearly results. China's rising currency, and a series of natural disasters, including some of the worst storms seen in decades and the Sichuan Earthquake, have also negatively impacted on China's economy and the performance of our investments. The diversion of central and local government resources to the disaster zones has led to delayed projects and payments for several of our investee companies. With the Olympics now behind us, the fallout from Sichuan settling down, and rumours that the Chinese Government is going to relax some of the previous controls introduced to damped the economy and bring in an economic stimulus package, it is to be hoped that conditions will ease going forward to counteract the impact of the expected slowdown in the global economy. Change of Company Name The Board is proposing changing the name of the Company at the Annual General Meeting to "China Growth Opportunities Limited", which better describes the Company's operations and structure. Operational Update The past year has seen a number of significant follow on financings for a number of our portfolio companies, as well as two complete and one partial realisation. There has been only one new investment, made in June 2007, compared to fourteen in the previous year, reflecting the shift in emphasis from investing to realising the value of the portfolio. 2 Annual Report 2008 LONDON ASIA CHINESE PRIVATE EQUITY FUND LIMITED During the year PricewaterhouseCoopers CI LLP were appointed as Independent Auditors. There have been a number of changes in personnel, as the Group moved from a period of raising and investing funds, to managing and realising investments. In June 2008 the Group appointed Diana Chen, based in Beijing, China, as Chief Operating Officer, with specific responsibility to ensure that adequate financial information is available from our portfolio companies to improve our own financial reporting. Diana is a qualified CPA and has worked in China for two of the world's leading accountancy firms. Following her appointment, we hope to be able to provide more regular reporting of net assets for the Group. I was appointed as Chairman on 24 July 2007, following the departure from the Board of Mr Manser and Mr Hill. I am pleased to welcome Richard Battey to the Board, as an independent non-executive Director. He is a Chartered Accountant, a Guernsey resident and has extensive experience of investment management. After the Company's AGM he will take over from me as Chairman of the Audit Committee. These appointments complete the re-organisation which I initiated in my first year as Chairman and I am confident that we have a good executive and non-executive team to take your company forward. The shares of the parent company of the Investment Consultant London Asia Capital Plc, were suspended from trading on AIM on 4 June 2008 as it was unable to publish its report and accounts. As at the time of writing this report, the suspension remains in place. The suspension of London Asia Capital Plc's shares has not affected the ability of the Investment Consultant to fulfil its duties to the Company. However, the Board is concerned that the suspension of London Asia Capital Plc's shares may have adversely affected the price of the Company's Ordinary Shares and Warrants. Outlook I am confident that the price at which the shares in your company trade on the AIM market in no way reflects the Group's true value. In the last year, we have seen very difficult market conditions stemming from the credit crunch and this has affected sentiment towards investment companies in emerging markets. It would be foolish at this stage to have a 'fire sale' of the Group's assets to prove that the business has significantly greater value than indicated by the current share price. Clearly however circumstances have changed since the flotation and we currently envisage more trade sale realisations than IPOs. We shall endeavour to achieve a few meaningful realisations or part-realisations in the next twelve months to demonstrate the quality of our portfolio. It is important to remember the growing domestic prosperity of China and the rise of a middle class – amply demonstrated by the recent Olympic Games. Our investments are not targeted at mass market, Chinese exporting companies. Our investment focus on clean technology, consumer products and services fits closely with the Chinese Government's objectives for the near and medium term. The solid investment performance of your company illustrates that there remain opportunities in the Chinese market for carefully selected businesses in the right sectors. Whilst other competing investments and markets have suffered, your portfolio is well placed to prosper in the medium term, however, due to current market conditions we expect the value of some of our investments to have fallen in the six months to September 2008. R Leighton 17 September 2008 Chairman's Statement
damanko
19/9/2008
11:21
Thanks I have a small position. Like you say the share price on the fund is on the way up. I'm going to sit it out and see what happens.
robsy2
19/9/2008
08:31
Hi Robsy Hope you eventually manage to escape from the warrants. I doubt that you will find them easy to sell, even at 1p,unless your stake is small. Your best hope is if a few others who don't realise how expensive they are also buy them and you get a chance to sell around the price you paid. Meantime if you think the shares are heading higher you should go for the shares and make up your warrant losses that way.
kenmitch
19/9/2008
07:13
Hi Kenmitch Your anaylsis goes far beyond mine!I didn't really think about it much beyond the idea that they have time value until March 2011 and they can't be any cheaper than they are.I am hoping that they make good progress realising investment gains within the fund and that the NAV gap closes so that the warrants come into play again.
robsy2
18/9/2008
15:28
Robsy. Why have you bought the warrants? Exercise price is 120p and the shares are 33p. Even if the shares more than triple the warrants will still be out of the money! CFP is around 80% and the premium around 300%. The warrants are way overvalued and unless others who don't realise this buy them then they are certain to underperform the shares. I used to hold the warrants and have only come back to this one after the results today. NAV around 140p - the shares are trading at a huge discount, even assuming as they warn, that NAV is going to fall back. But if deciding to buy it will be the shares not the warrants. Even if the shares double fairly soon (unlikely?) the warrants would still be way out of the money and worth nothing other than time value. Assuming a sensible premium for time value then you need the share to get towards 80p to justify a warrant price significantly higher than it is now.
kenmitch
18/9/2008
12:14
I wouldn't put too much store by their fair value assessments. Infact personally I have never seen a company make such sweeping statements as to give such wide estimates (the 72.3 million is in the middle of the range 58-88 million). China New Energy Limited holding for example is valued at 10-15 million. CNE is currently suspended on Plus, so that's about 12 million we can knock off straight away and unless lifted by end September should show as zero in the interims! As for the 'Our on the ground presence and over ten years' experience of operating in China, including through the last recession, puts us in a better position to identify opportunities and risks, and take advantage of the various sources of liquidity within China, as the traditional financial centres and less experienced investors struggle.....' I consider that to be utterly pompous bullsh*t. By less experienced are Victor and Simon referring to LDC? Oh I forgot they were the fellas running that one too..........
egoi
18/9/2008
10:51
All is not lost! I have bought a few more warrants this morning. Even if the results are only half true , there is still value in this fund.IMHO R2
robsy2
26/8/2008
11:32
China Biofoods restored today.
egoi
15/8/2008
11:17
Has everyone sold?
egoi
01/8/2008
07:18
How many warning signs would you like? Dangerous game, dominos. Suspension of Trading The following company has been suspended from trading on PLUS with effect from 07:30am, 1/08/2008, due to non-payment of the PLUS annual fee. China Biofoods Limited
egoi
07/7/2008
11:28
The noose tightens another notch imho: From the Plus website: 01/07/2008 08:00 Sandhaven Resources plc - Suspension of Trading 01/07/2008 08:00 QTEL Global Networks Ltd- Suspension of Trading 01/07/2008 08:00 China New Energy Limited - Suspension of Trading 01/07/2008 08:00 Pathway One plc - Suspension of Trading
egoi
26/6/2008
14:53
Thanks for the kind words and Yes I'm kicking myself. I sold LDC because it looked dodgy and against my better judgement decided to hold on here.I'm down 60% so I may as well see it out because it is an investmnet fund so they can't all go bust.....The nav is supposedly around 130p so it needs to be well wrong for there not to be any value in the fund.
robsy2
24/6/2008
16:45
Robsy, China Education Group, for want of that better word, "vanished". COMG, suspended and apparently "gone the journey". LDC "suspended". LCP next in the firing line? I wouldn't be investing in these people myself. As to what, or how, or even why, I don't care to even hazard a guess! I hope you can get back value from your holding.
egoi
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