|
| Wednesday, 28 November 2012, 10:45 HKT/SGT | |
| |  | |
Source: Quam Limited | |
|
|
|
|
| Able to Maintain Market Share on SEHK and Category B Status Amid Unfavourable Markets |
HONG KONG, Nov 28, 2012 - (ACN Newswire) - Quam Limited ("Quam" or the "Group", Stock Code: 00952.hk), a Hong Kong-based financial services group, today announces its unaudited interim results for the six months ended 30 September 2012 (the "Period").
During the Period, revenue of Quam amounted to HK$157.4 million (2011: HK$197.0 million), representing a decrease of 20.1% compared to the corresponding period last year. There was a loss attributable to owner of the Company of HK$4.4 million (2011: profit attributable to owner of the Company of HK$238,000), which was mainly due to additional premises-related costs arising from double rental and reinstatement for the transition of the Group's offices in Central. Basic loss per share were HK0.38 cent (2011: earnings per share of HK0.02 cent).
The Group's Board of Directors did not recommend the payment of an interim dividend for the six months ended 30 September 2012 (2011 interim dividend: Nil).
Mr Kenneth LAM, the Chief Executive Officer of Quam, said, "Despite challenging market conditions with uncertainties in global economy, our market shares and Category B status on HKEx maintained, with further steady growth in futures business in terms of volume and turnover, positive growth trend in corporate finance business, inflows of investment to our managed funds and modest performance fees of Asset Management division were captured for the month of September. During the Period, the major relocation of our Head office and other divisions provided added benefits by consolidating our operations and making them more efficient."
During the Period, revenue of securities and futures business was adjusted 23.9% to HK$95.0 million comparing with the same period last year (2011: HK$124.9 million), which was affected by the volatile market. Supported by sufficient banking facilities, margin loan book at the end of the Period stood at HK$388.7 million (31 March 2012: HK$469.3 million). Given the bearish market leading the decrease of investor appetite for new and secondary deals, ECM business activity slowed down, while placement and underwriting fee income reduced to HK$4.4 million (2011: 5.0 million).
Corporate finance activity maintained strong performance during the Period with revenue of HK$24.9 million (2011: HK$27.3 million), as a result of solid deal pipeline with further growth and steady advisory fee income.
Revenue generated from management fees of Asset Management decreased to HK$3.6 million (2011: HK$5.1 million), resulted from the decrease in Assets Under Management ("AUM"). Total AUM stood at US$57.2 million (2011: US$67.6 million). Nevertheless, the launch of a new fund of funds in September is expected to raise another US$10.0 million by the end of December.
Quamnet's revenue was adjusted 18.7% to HK$11.3 million (2011: HK$13.9 million), which was due to the bearish market which reduced on advertising spending and content fees by corporate clients, as well as subscription of research & columnist products from individual clients.
Quam's receivable from the liquidation of MF Global HK was reduced through a second interim payment in July, which the total payout to date amounts to 70% of the client money receivable. The Group's management considered not to reduce provision of HK$7.0 million given the current information and market uncertainties.
Investment of the Group has been undergoing during the Period. Although the Group remains the equity holdings in McMillen Advantage Capital Limited ("MAC"), the Group suggested the management of MAC speed up realization of non-core assets and for the return of capital that has been approved by the courts.
Mr Bernard POULIOT, the Chairman of Quam concluded, "Asia market remains the safe haven with influx on capital. The strong demand of wealth protection with diversified investment portfolio provides a golden opportunity for us. We are considering closer integration between wealth management and asset management divisions by way of short term money management and medium term capital preservation strategies to generate absolute return for our clients. In addition, a newly innovated platform of trading tools that jointly collaborated by Quamnet and securities trading units will be soft launched in the first quarter of 2013, which will give a competitive advantage to both. Benefited from our core business and ongoing cost control measures, we are well-poised to move forward in the near future."
* for identification purpose only
Contact:
Quam IR
Ms Anita Wan
Tel: +852 2217-2811
E-mail: anita.wan@quamgroup.com
Ms Sharon Au
Tel: +852 2217-2812
E-mail: sharon.au@quamgroup.com
Ms Venus Lam
Tel: +852 2217-2813
E-mail: venus.lam@quamgroup.com
Topic: Earnings
Source: Quam Limited
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| Quam Limited |
| May 29, 2017 18:38 HKT/SGT |
|
QUAM CAPITAL Awarded Oaklins Deal of the Year Award 2017 in Recognition of Excellent Co-operation in Mergers and Acquisitions |
| Mar 16, 2017 14:24 HKT/SGT |
|
Quam Limited Awarded Caring Company in Recognition of Commitment in Caring for the Community, the Employee and the Environment |
| Nov 9, 2016 18:30 HKT/SGT |
|
Quam Securities Inaugurates First Quam Direct Spot in Hong Kong |
| Nov 3, 2016 14:00 HKT/SGT |
|
The Sale and Purchase of Shares in Quam Limited and Possible Unconditional Mandatory Cash Offers |
| Sept 9, 2016 11:59 HKT/SGT |
|
Quam sponsored the 36th Anniversary Dinner and Inauguration Ceremony for The Institute of Securities Dealers Limited |
| June 30, 2016 17:12 HKT/SGT |
|
Quam Announces 2015/16 Annual Results |
| Apr 5, 2016 08:55 HKT/SGT |
|
Quam Limited's Securities Arm Becomes the First HK Trading Member in Securities Market in Singapore Exchange |
| Mar 14, 2016 10:15 HKT/SGT |
|
In Recognition of Commitment in Caring for the Community, the Employees and the Environment, QUAM LIMITED was Awarded the Caring Company |
| Nov 3, 2015 16:12 HKT/SGT |
|
Quam Announces 2015 /16 Interim Results |
| Oct 7, 2015 11:40 HKT/SGT |
|
Quam Team Wins 4 x 100m Invitation Relay |
| More news >> |
 |
|
|
|
