London Asia Chinese Private Eq.F Share Discussion Threads

[buffin] 13/3/2008 15:56

On the face of it the discount to the last declared NAV is huge. In the last full results the new board reported overhauls of their own procedures and the auditing procedures, so hopefully we are less open to nasty surprises than shareholders at LDC appear to be.

[robsy2] 13/3/2008 15:46

yes maybe its a case of mud sticking combined with the general sell off in the markets. I would love to know what some of these big institutional shareholders think who have championed this fund...

[damanko] 11/3/2008 19:09

When I first posted on this thread (and on the LDC one ....) I made the point that LCP seemed like a decent investment, whereas LDC was getting pasted by the City. Went against my instincts and bought these (LCP) on a monthly basis, over the best part of a year.

I regard it as a long term investment, but even so - I don't remember reading one positive note about LDC, and whether we like it or not, some of the mud is sticking.

[robsy2] 11/3/2008 17:26

Do you hold LDC as well? All is not well over there either.I sold out of LDC a long time ago at a loss. I had a niggling feeling about the management and the project and the way the company was being run. ie cutting lots of deals for their benefit rather than us.Example ; take the bonus fees from managing the LCP fund, apparently only 50% of them will go to LDC the rest go directly to the managers, that sort of thing just doesn't seem right to me so I sold out.I held these and the niggles remain even though they seem to have made some great investmnets at very good prices. and they have a real A list of institutional shareholders who I tuck behind for protection!
All I ever read about the investee companies is good and providing there is not some horrendous new development waiting to be announced the share price must be very deeply discounted against the NAV of the fund.
I just wonder what the inside track is on this one because I just have a feeling that there must be something bad going on, if not we should buy.

[buffin] 11/3/2008 16:41

Looks like the MMs dropped the price for the largeish sales of this illiquid stock.

[robsy2] 11/3/2008 16:28

Jeez This is in all sorts of trouble, anyone got any ideas what is going on?

[robsy2] 05/2/2008 18:13

More great news . Anyone any idea how much of these companies w ehave and how the shareprices are performing

[damanko] 04/2/2008 18:54

Announced earlier today:

4 February 2008



London Asia Chinese Private Equity Fund Limited ("LACPEF")



Investee Companies Updates



LACPEF, the AIM traded, China focused investment fund, is delighted to announce updates from its two Singapore listed water investee companies, United Envirotech Ltd ("UE" or the "Company") and Asia Water Technology Ltd ("Asia Water" or the "Group").



United Envirotech - eight new projects; third quarter results



The Company released a strong set of the third quarter results for the period ended 31 December 2007, with growth across all sectors of the business. During the three month period, revenue was up 109%, compared to the same period in 2006, to £4.9 million, with profit before tax increasing to £0.9 million (2006: loss).



UE has secured a £7.0 million engineering contract to modify, upgrade and expand on the existing wastewater treatment plant at Taixing Chemical Industrial Park at Taixing City, Jiangsu Province, China. The first phase of the project involves upgrading and converting the 20,000 m3/day wastewater treatment plant to UE's advanced Membrane Bioreactor (MBR) system. Following successful completion of the first phase, UE will construct a 40,000 m3/day wastewater treatment plant using MBR technology.



The Company was awarded a £4.2 million Build-Operate-Transfer ("BOT") contract to build a 50,000 m3/day membrane-based wastewater treatment and recycling facility from Mianyang Municipal Government in Sichuan Province, China. The project has a concessionary period of 30 years and will be undertaken by a project company in which UE owns 60%. Mianyang city is one of three cities granted the prestigious status of a "water conservation area". It was selected by the Chinese Central Government to serve as a model to demonstrate self-sustained water use through effective water re-use. Mianyang is well recognized as a high-tech research and development base for China. The city hosts one of the research bases for nuclear science and rocket science.



UE's advanced membrane-based water treatment system has been selected by China Petrochemical Corporation (Sinopec) Group for five of its six demonstration plants. The projects were awarded independently by Sinopec's Maoming, Wuhan, Xian, Zhijizhuang and Guangzhou branches though a series of bidding and evaluation processes where UE was selected over both local and international water treatment companies.



The Company has also secured an industrial wastewater treatment project in Singapore from Semcorp Industries Ltd ("SUT") using MBR technology. UE has successfully completed two water-recycling projects, utilizing its advanced membrane technology, for SUT in the past two years.


Asia Water - Acquisition



Asia Water has acquired for £0.5 million in cash the 20% stake in Taizhou Kaidi Waste Water Treatment Co Ltd ("Taizhou"), a wastewater treatment services provider. Taizhou is located in Linghai City, Zhejiang Province, China and was set up to undertake a BOT wastewater treatment project for a period of 20 years. Taizhou will build, operate and transfer a water treatment plant with an estimated treatment capacity of 50,000 tonnes of industrial wastewater per day. Once operational, Taizhou will be treating industrial wastewater generated by the Zhejiang Pharmaceutical Park located within Linghai City.



For further information please visit www.lacpefund.com, or contact:



John West/Andrew Dunn

Tavistock Communications

Tel: [phone]
Cecilia Wong

London Asia Ltd.

Tel: [phone]

[e-mail]
Hugh Field

Collins Stewart Europe Ltd

Tel: [phone]






About Asia Water Technology Ltd.

Singapore stock market listed AWT provides total engineering solutions for water purification and wastewater treatment systems. Its business is primarily conducted through its subsidiary in China, which owns its own patented core technologies and works closely with leading technology partners in the international and local water treatment arena. For more information on the Group, please visit: www.asiawatertech.com.



About United Envirotech Ltd

Singapore main board listed United Envirotech Ltd specializes in water treatment and reclamation using advanced membrane technologies and provides environmental engineering solutions to a wide range of customers in the chemical, petrochemical, pharmaceutical, and wastewater treatment industries. For more information on the Company, please visit: www.unitedenvirotech.com.

END

[robsy2] 22/1/2008 17:58

Yes here are the figures;
CCEC now has 115m shares in issue, LCP hold 10million of them ie 8.7% , they paid 1.9m for them and they are now trading on Plus ,( and there have even been a few trades!) , at 110p ,so by my calculations what was worth 1.9m is now worth 11million GBP. not bad at all,a five bagger gain in 14 months and plenty more to come by the looks of it!
No movement in the fund price but you can't have it all.

[robsy2] 22/1/2008 17:04

Following the £5 million fund raising last November, CCEC has raised a further
£10 million of new money via the issue of 10 million new Ordinary Shares to DnB
NOR Asset Management (Asia) Limited ("DnB"). DnB is the Hong Kong office of
Norway's largest provider of mutual funds and discretionary asset management.
Following the issue, DnB owns 8.7% of CCEC's enlarged share capital. The shares
were issued to DnB at 100p per share, valuing CCEC at £115 million.
----------------------------------------------------------------------------


We bought 10% of the company for £1.9 million back in November 2006 so what was valued at £19 million is now valued at £115m.With dilution our share is now worth ..... I'm a bit lost.... a lot more!
Precise figures welcome
I've topped up this afetrnoon.

[dassera] 16/1/2008 20:01

How very dare you?

[damanko] 13/1/2008 22:00

Well, we could take the Condor ferry, make a day of it........... think the directors will arrange a gratis hotel for a night? I wouldn't mind a night in St Peter's Port (where I presume it is?). After all, we are only here once.

[buffin] 12/1/2008 11:28

The AGM is on 22 February, in Guernsey.

It would be nice if the company could hold an annual briefing in London which pi's could attend, to hear about the progress of our investments.

[buffin] 04/1/2008 08:59

Good to see buys going through for China CDM Exchange, confirming the validity of the price.

04/01/2008 08:47:41 110.00 3,000
03/01/2008 11:29:44 110.00 2,000
03/01/2008 08:26:30 110.00 2,000
02/01/2008 10:06:32 110.00 2,000
13/12/2007 15:29:59 105.00 2,500

[robsy2] 08/12/2007 14:59

Buy the warrants, they look reasonable value.

[capt bligh] 06/12/2007 11:27

China cdm deal puts current NAV up to just over 1.50

[damanko] 06/12/2007 09:50

INVESTMENT PORTFOLIO

as at 30 September 2007 (unaudited)





Company


Activity/Sector
Listing
Fair value
Percentage of net assets





£'000
%


Asia Clean Energy
Clean energy
Not quoted
4,067
5.9


Asia Water Technology
Clean technology
SESDAQ
9,351
13.7


Asia Wind Group
Clean energy
Not quoted
3,000
4.4


Canmake Business
Manufacturing
Not quoted
6,838
10.0


China Biofoods
Manufacturing
PLUS
3,740
5.5


China CDM Exchange Centre
Carbon credit brokerage
PLUS
2,500
3.7


China New Energy
Clean technology
PLUS
12,211
17.9


China Real Estate Services
Property
Not quoted
4,133
6.0


China Solar Energy
Clean technology
Not quoted
4,300
6.3


Dalian Business Institute
Education
PLUS
3,339
4.9


FEnet Company
Information technology
Not quoted
516
0.8


Hainan Zhengye Zhongnong High-tech
Pesticide production
Not quoted
2,233
3.3


United Envirotech
Environmental consultancy
Mainboard SGX
4,981
7.2


Wan Wei Oil & Gas Technology
Mining technology
Not quoted
7,156
10.5



------------
------------



68,365
100.0


Other receivables and prepayments
259
0.4


Cash and cash equivalents
4,315
6.3


Payables and accruals
(4,584)
(6.7)



------------
------------


Net assets
68,355
100.0

[damanko] 06/12/2007 09:21

Company LONDON ASIA CHINESE PRIVATE EQ.F LD ORD 1P
TIDM LCP
Headline London Asia Chinese net assets at end-Sept 68.4 mln stg, 136.7p/share
Released 08:14 06-Dec-07
Number 081448.06122007



LONDON (Thomson Financial) - London Asia Chinese Private Equity reported a higher first-half net profit and said net asset value at end-September was 68.4 mln stg, representing about 136.7 pence per share.

For the period to end-September, the company said its net profit was 1.8 mln stg compared with 0.4 mln stg earlier.

Total income came in at 3.33 mln stg compared with about 1.51 mln stg.

It is cautiously optimistic about the investments it made, and buoyed by a strong Chinese economy, the company expects these will generate positive returns.

[e-mail]

pmi/rfw

[nickcduk] 09/11/2007 07:58

What a stunning deal. The share price of the investee company has gone up over 100% on the news. LDC have pulled off an exceptional investment here for the fund. Absolutely amazing.

[boonboon] 09/11/2007 07:47

and they only bought these for £1.9million

LONDON (AFX) - London Asia Chinese Private Equity Fund Ltd said it is
investing 1.9 mln stg for a 10 pct stake in carbon credit specialist China CDM
Exchange Centre Ltd.
Simon Littlewood, executive director of LACPEF, said: "The Fund has invested
in a number of businesses in the environmental sector that potentially generate
carbon credits and could benefit from the services CCEC provides, adding value
to our existing investments as well as this new investment.
"Our investee companies involved in renewables have performed well with
China New Energy, which joined PLUS in September, reporting strong trading
yesterday."
China CDM's chief executive Kang Zheng said the company plans to list on the
UK's PLUS stock market in the near future.
China CDM, which was founded this year, provides brokerage services relating
to the reduction of greenhouse gases in Asia and works with businesses and
projects that generate carbon credits.
[e-mail]

[boonboon] 09/11/2007 07:45

As far as I know the fund has 10million shares in these valued at £10million according to the below.


9 NOVEMBER 2007

CHINA CDM EXCHANGE CENTRE LIMITED
("CCEC" OR "THE COMPANY)

ISSUE OF EQUITY

CCEC is pleased to announce that it has raised US$10 million (GBP5 million) in
new funds via the issue of 5,000,000 new Ordinary Shares of the Company to UK
headquartered fund manager Atlantis Investment Management Limited, which
following the issue owns 4.76% of CCEC's enlarged share capital of 105 million
shares. The shares were issued at US$2.00 (GBP1) per share, valuing the
business at GBP100 million.

Founded in 2006 and traded on the UK's PLUS stock market since last December,
CCEC is an advisor to projects in Asia that have the potential to generate
carbon credits under the Clean Development Mechanism ("CDM"). The Company
works with projects to ensure that they meet the criteria under the CDM, then
acts as broker for the sale of the carbon credits to international buyers.

Mr Kang, CCEC Chief Executive, said:"The new funds will enable us to continue
the rapid expansion of our business. We currently have 49 contracts in our
portfolio, with contracted tonnes of over 82 million to 2012, up 14% since the
start of the year, with issued Letters of Approval for 15 of our projects,
totaling 17 million tonnes of carbon credits to 2012. China represents the
largest source of carbon credits in the world, and the new funds will enable us
to consolidate our position as a leading player in the Chinese CDM market."

For further information visit the company's web site www.chinacdmex.com, or
contact:

Cecilia Wong John West/Andrew Dunn
London Asia Group Tavistock Communications
Tel: [phone] Tel: [phone]


ABOUT CHINA CDM EXCHANGE

Headquartered in Beijing, China, CCEC is a Jersey incorporated company
providing brokerage, advisory and research services relating to the reduction
of greenhouse gases in Asia. It works with businesses and projects that
generate carbon credits, and assists the project owner to identify buyers for
and sell on those carbon credits.

As well as providing advice to projects which generate carbon credits, CCEC
also acts as an emissions broker and maintains its own carbon trading
portfolio. It also manages an on-line platform for environmental commodity
transactions in China.

To date, the Designated National Authority of the Chinese Government has issued
Letters of Approval under the Clean Development Mechanism for 15 renewable
energy projects being developed by China CDM's clients, totalling 17.33 million
tonnes of carbon credits to 2012.

CCEC announced profits of GBP932,000 for the six months ended 30 June 2007.

[robsy2] 05/11/2007 15:16

Here is what IC has to say;

It's easy to confuse London Asia Chinese Private Equity (LAE) with its sister company London Asia Capital (LAC). Both have a similar management, their investment aims are the same, they share two common investments - and both their share prices have wilted because of regulatory changes in China.

Advertising

Starting in September 2006, the Chinese government brought in regulations to restrict the ability of non-Chinese investors to acquire assets in China. Tax preferences for foreign-invested businesses have been removed, and Chinese companies that accept foreign rather than local money risk being unable to list in China, where valuations can be much higher.

These changes don't appear to be good news for LAE. But the company is putting on a brave face, saying that its portfolio will now be more valuable to outside investors. But the share price does not agree as yet - although a switch in emphasis from new investments to realising investments may change sentiment when it happens.

LAE holds a number of Plus-listed shares; its largest shareholding at end-March 2007 was a £12.7m fair-value stake in China New Energy. It provides equipment to produce raw alcohol from which "edible alcohol", fuel ethanol and acetic acid can be produced. LAE does not think that its shareholders will want to follow the same course as those in its sister operation, which offers its investors direct shareholdings in Plus-quoted shares.

LONDON ASIA CHINESE PRIVATE EQUITY FUND (LCP)

ORD PRICE: 108p MARKET VALUE: £ 54.0m
TOUCH: 107-109 12-MONTH HIGH: 124.5p LOW: 107.5p
DIVIDEND YIELD: NIL PE RATIO: 3


Year to 31 Mar Net asset value (p) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2007* 133.05 18.4 36.75 nil
* 14 months.

IC VIEW
BuyAt this bombed out level, the shares are a speculative buy for the brave.

Last IC View: Good value, 115p, 12 January 2007

[phbatbjco] 01/11/2007 08:12

temporary obviously = slightly less than a month then

[buffin] 01/11/2007 08:03

We're back, and at first glance it looks good.

Highlights:

* Net assets at 31 March 2007 of #66.5 million, equal to 133.05 pence per share;

* Profit for the period of #18.4 million, equal to 36.75p per share;

* Company substantially invested in 14 investments;

* Investments up 52% on cost; and

* 59% of portfolio by value quoted.



The shares are 107-108. The warrants are 21-24, with an exercise price of 120 until 31/3/11.