2nd Nov 2016 09:51
LONDON (Alliance News) - All Asia Asset Capital Ltd on Wednesday said it was considering changing its investing policy, and tabled plans to realise its investments in Andaman Power & Utility Co Ltd and Myanmar Allure Group Co Ltd.
The Asia Pacific-focused investing company said it was eyeing the proposal for an investment policy change as a number of investment opportunities recently reviewed fell outside the scope of its current policy.
The group said any change in policy will be subject to the approval of shareholders.
All Asia Asset Capital said it continues to evaluate new investment opportunities, although currently it has "very limited available cash resources" and is not in a position to make new investments.
The group's recent focus has been on controlling costs and evaluating options for raising funds to meet its ongoing operating expenses. All Asia Asset said it plans to engage with potential investors with a view to securing new funding in the short-term.
However the company said there can be no certainty regarding the timing of the conclusion of any discussions or whether any new funding on acceptable terms will be ultimately secured.
All Asia Asset Capital earlier this year said it was actively seeking to realise its investment in Andaman Power, but on Wednesday said no discussions were at an advanced stage. The group said the equivalent steps will now be taken to realise its investment in Myanmar Allure.
Shares in All Asia Asset Capital were untraded on Wednesday, having last traded at 11.15 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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