Appt of Asian Operations FD

RNS Number:7711C
London Asia Capital PLC
09 September 2004



            LONDON ASIA CAPITAL PLC ("London Asia" or the "Company")



Finance Director appointed
China Financial Services ahead of budget



London Asia Capital, the AIM-listed Greater China focused investment banking and
private equity group, announces the appointment of Mr Peng Mun Foo as Finance
Director for Asian Operations.  Peng Mun will be based in the recently opened
Shanghai office.



Peng Mun, aged 32, has nine years experience of investing in and building
businesses in Asia, working with senior management of both listed and private
companies.  A Singapore Certified Public Accountant (CPA), he has passed the
Chartered Financial Analyst level 2 exams and holds a Singapore Fund Management
Representative's Licence.



Peng Mun takes over responsibility for day to day monitoring of the performance
of our portfolio companies in China, as well as supervising due diligence on new
projects and preparation of documentation for follow-on funding and IPO's.  He
will also assist in the development of our fund management operations within
China and S.E Asia.



As part of his responsibilities, Peng Mun has taken on the role of Finance
Director of China Financial Services, the financial services business in which
London Asia holds a 48% stake, and which owns Beijing Success.  He will be
responsible for taking the company to IPO and continuing to develop the
business, as there are increasing potential acquisition opportunities as China
reforms its financial services industry in preparation for the opening up to
foreign competition in 2006 under its WTO commitments.  Beijing Success is
trading ahead of budget, with unaudited profits for the six months to June 2004
up over 30% on the year before.



Peng Mun joins London Asia from Legg Mason Asset Management (Asia), the Asian
operations of the US listed Diversified-Financials Company and Money Manager,
where he was Chief Operating Officer.  He was responsible for growing the Asian
Offshore Funds market based through Private Banking and high net-worth channels.
As Chief Operating Officer, he was responsible for Regulatory, Legal, Finance,
Taxation and Human Resources functions of the three Asian entities, including
implementing Legg Mason's acquisition of Rothschild Asset Management (Singapore)
as well as providing certifications required by the US Securities & Exchange
Commission.



Prior to Legg Mason, Peng Mun was a Venture Capitalist, co-founding Bowtie Asia,
a private equity advisory and consultancy firm, where his work involved
co-investing and placing out companies in the Information-Communications
Technology (ICT) and Life Sciences sectors.  He was also responsible for
accelerating selective businesses via strategy development, corporate
restructuring, deal execution and management.



Prior to Bowtie Asia, he worked as an Investment Analyst for China Everbright
Industrial Investment Management, a US$100 million Venture Capital fund
established by China Everbright, part of the finance arm of the Central
Government of China, and Temasek Holdings, one of Singapore Government's largest
investment holding company. He was responsible for deal evaluation, due
diligence and structuring of Chinese Private Equity investments spanning
Information-Communications Technology, Life Sciences, Chemicals, and Basic
Industries.



Peng Mun gained his initial training as an Investment Analyst with Deutsche Bank
Alex Brown, carrying out primary research and investment advisory, predominantly
in the Electronics & Telecommunications sectors.  He also covered Defence,
Airlines, Automotive, Media, and Food & Beverage sectors. In addition, his job
scope entailed marketing investment ideas to institutional clients, deal
origination for funding, advisory purposes as well as advising on feasibility of
deals and potential M&A synergies.



Peng Mun said: "The recent attempts by the Chinese Government to slow down the
Chinese growth rate, primarily via reducing credit available to overheated
sectors such as cement, steel and real estate, coupled with the announcement of
a suspension of new listings on the Chinese Stock Market while reforms are
implemented, present an ideal opportunity for London Asia. The reduced amount of
funding available is being felt most strongly by high growth private companies
("SME"'s), who are seeing increasing working capital needs as their sales
continue to grow in line with the strong growth in the private sector of the
Chinese economy. These businesses are the ones that are finding it difficult to
raise money from banks and other investors.  London Asia's focus on China's SME
sector, coupled with its international network and ability to access funds
outside China, puts it in a strong position to build up a portfolio of
investments at attractive prices on the back of the current credit crunch."



John Mi, Chief Executive of China Financial Services, said: "I am delighted to
welcome Peng Mun to our management team. With the continued expansion of our
core business, and the opportunities to expand into related fields organically
and by acquisition, as well as our upcoming flotation, it is important that we
have the right support in place to deal with the regulatory and financial
issues."



Simon Littlewood, London Asia Chief Executive, said: "At this stage in our
growth it is important to have someone of Peng Mun's experience and ability in
place.  We now have nearly #5 million invested in twelve investments in the
region to date, and a number of new investment opportunities in the pipeline.
We also have several Chinese companies which are in the process of appointing us
on a fee paying basis to assist them in raising funds and going to IPO outside
China.  Peng Mun is familiar with the regulatory system in Singapore and the US,
as well as China, and so will support these projects and bring together much of
the work being performed by our teams in China, New York, London and Singapore."





ENQUIRIES:
                                             
Simon Littlewood, CEO                               Tel [phone]
Paul McManus, Binns & Co                            Tel [phone]
                                                    Mob: [phone]



About London Asia Capital plc



London Asia is a leading AIM listed investment banking and private equity group
focused on the Greater China SME market.



London Asia has identified that as a result of the fast growing Chinese economy
and an underdeveloped financial services industry, there is strong demand for
both capital and skilled financial advisory services in China, especially among
small-to-medium sized enterprises.



London Asia operates two principal businesses within Greater China:



*         Investment in profitable businesses with exits via IPO or trade sale;

*         Investment Banking services, mainly corporate finance advisory (fund
          raisings, IPO's and M&A) and fund management



London Asia has a growing list of investments, paid for via a mix of cash and
London Asia shares, focused on distinct industry sectors:

*         Financial Services

*         Media

*         Information technology & communications

*         Infrastructure, energy & natural resources & environment



London Asia has offices and management teams, as well as strong local partners,
across the Greater China region, as well as alliances with a number of Chinese
business parks which gives London Asia access to over 7,000 Chinese businesses.
These provide direct access to investment opportunities, close relationships
with corporate clients, a good level of control over existing investments,
access to local market intelligence as well as providing leverage through a
network of partners. These work in conjunction with our international network in
London, New York, Singapore, Hong Kong and Taiwan.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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