17th Jun 2015 09:27
LONDON (Alliance News) - Kuala Ltd Wednesday said it has reviewed a number of opportunities since restructuring in 2014, but said the natural resource and energy sector remains difficult.
The investment company changed its name from China Growth Opportunities Ltd during the year ended March 31, "to reflect its move away from a Chinese geographic focus", alongside implementing a new investment policy focused on the natural resources and energy sectors.
At the end of March, Kuala said its had net assets totalling GBP463,000 compared to net liabilities of GBP34,000 at the end of March 2014. The loss per share for the year widened to 1.28 pence from 0.33 pence.
"Since the restructuring on 11 November 2014, the directors have reviewed a number of investment opportunities for the company. However the natural resources and energy sector markets have struggled, and this has delayed the implementation of the investing policy," said Chairman Stephen Dattels.
"Should suitable investment opportunities not become available, the board will consider returning to shareholders to amend or broaden the company's investing policy to enable shareholders to participate in investment sectors which are showing better risk and return profiles," he added.
Kuala shares were down 0.9% to 8.06 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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