Interim Results

Press Release 22 September 2015

All Asia Asset Capital Limited

("All Asia Asset Capital", "AAA" or the "Company")

Unaudited Interim Results for the six months ended 30 June 2015

All Asia Asset Capital (AIM: AAA), an investment company focused on investing in the growing markets of the Asia Pacific region, today announces its unaudited interim results for the six months ended 30 June 2015.

Highlights:

· Successful subscriptions to raise approximately £490,000 in cash by issuing 965,000 new ordinary shares in the Company at a price of 16.5 pence per share, for working capital and to provide the Company with additional funds to make further investments, in accordance with the Company's investing policy.

· Appointment of Mr. Wai Tak Jonathan Chu as an executive director of the Company to strengthen the Board.

· Continuing commitment to investing in growing markets in the Asia Pacific region with the Company currently holding investments in Andaman and Power Utility Company ("APU"), a Thailand and Myanmar focused power generation group, and Myanmar Allure Group Co. Ltd. ("MAG") which operates hospitality and entertainment businesses in Myanmar.

-Ends-

For further information:

About AAA

AAA is an investment company that has been established as a platform for investors looking to access growing markets in the Asia-Pacific region. The Company invests in a portfolio of companies with at least a majority of operations (or early-stage companies that intend to have at least a majority of their operations) in the Asia-Pacific region in industries with high growth potential including, but not limited to: agriculture, forestry and plantations, mining, natural resources, property, and/or technology. AAA is publicly quoted and its shares are traded on the AIM Market, which is operated by the London Stock Exchange.

Chairman's Statement

I am pleased to report on the results for the six months to 30 June 2015 for All Asia Asset Capital together with its subsidiaries (the "Group").

Business review

It has been a busy six months for the Company with changes in directorships, the successful raising of additional cash and a positive outlook for its investments.

A clear endorsement of our current strategy is that additional funds were received in the period under review through two separate subscriptions by existing shareholders. The first tranche was on 30 April 2015 for £330,000 through a subscription from two individuals. The Company issued 2,000,000 new ordinary shares at a price of 16.5 pence per share which represented a premium of approximately 6.45% to the average closing price of the Company's ordinary shares for the last thirty trading days prior to the release of the announcement on 30 April 2015. An additional £159,225 was raised on 20 May 2015 through a subscription with another existing shareholder, through which the Company issued 965,000 new ordinary shares in the Company at a price of 16.5 pence per share. The Company intends to use the net proceeds of the subscriptions for working capital and to provide the Company with additional funds to make further investments, in accordance with the Company's investing policy.

The main change regarding the board of AAA was that, on 19 June 2015, Dr. Sri Hartati Kurniawan advised the Board of her intention to step down as an Executive Director and Chief Executive Officer of the Company to pursue other interests. Her resignation was effective from the conclusion of the recent AGM held on 20 July 2015. I wish to extend my sincere gratitude for all the work and commitment that Sri has put into AAA to take the Company to where it is now. Her expertise and insight during her service on the Board have been greatly valued and we wish her the best for her future endeavours. Sri has agreed to act as a consultant to the Company on a project by project basis, as and when required, and we look forward being able to continue to work with her on a consultancy basis going forward.

The Company has initiated the search for a successor and I believe that it is very important that we identify the right candidate with the skills and experience that match the strategic direction of the business, who is able to take the Company to the next level. The Company will make a further update regarding the CEO recruitment process at the appropriate time.

On 26 March 2015 we announced the resignation of Mr. Akekachat Leelapanyalert as an Executive Director of the Company and the Board of AAA wishes him well with his future endeavours. In addition, on 2 April 2015, we were delighted to announce the appointment of Mr. Wai Tak Jonathan Chu as an Executive Director of the Company. This appointment is of great value to the business, given Mr. Chu's wealth of experience. Mr. Chu has over twenty years of experience in property investment and asset management, investor relations and corporate finance, mostly in Hong Kong. Mr. Chu was a Senior Property Manager at Hon Kwok Land Investments Co. Ltd., a property developer company listed on the main board of the Hong Kong Stock Exchange, from September 1988 to April 2004. His responsibilities included heading up the company's overseas asset management department and managing a portfolio of assets throughout the Asia Pacific Region, US and Canada.

We continue to monitor our two investments in Myanmar, which, as highlighted in my previous statement seems to have been a positive move with the current economic outlook in the region. The Company's two investments are minority stakes in Andaman Power and Utility Company Limited ("APU"), a privately held company based in Thailand and Myanmar which operates in the development of utility plants and the provision of electricity, and Myanmar Allure Group Co., Ltd ("MAG"), which owns and operates the Allure Resort, a combined hotel, resort and gaming facility located in Tachileik province, Myanmar, in the vicinity of the Thailand-Myanmar Mae Sai border.

The Company announced on 5 May 2015 that CyberPlanet Interactive Public Company Limited (now re-named United Power of Asia Public Company Limited ("United Power")), a company listed on the Stock Exchange of Thailand, held an annual general meeting on 30 April 2015 where the shareholders of CyberPlanet passed a resolution to acquire 100 per cent. of the issued share capital of APU for 340 million Baht in cash. We have noted the recent announcements made by United Power regarding a prospective change of structure for the transaction, which has now been approved by shareholders of United Power. AAA can confirm that it has not been approached by United Power regarding this matter since the change of structure was approved by United Power's shareholders. AAA has not entered into any agreement with United Power to sell AAA's interest in APU to United Power or any other parties. We will continue to monitor developments and will update shareholders accordingly regarding our investment in APU.

In April 2015 the Company entered into a letter of intent with Quick Win Global Limited to evaluate potential investments in the vehicle financing business initially focussed on the Lao People's Democratic Republic. The Company continues to evaluate this opportunity along with other prospective investments in line with the company's investing policy.

The Asian development Bank recently stated that growth in Myanmar is forecast to accelerate to 8.3% in FY2015 and remain close to this pace in FY2016 as it is propelled by investment stimulated by structural reform, an improved business environment, and Myanmar's gradual integration into the sub region of Southeast Asia. They highlighted two areas: Construction driven by government investment in infrastructure and growth in services bolstered by a surge in tourist arrivals - both of these areas are closely aligned to the Company's investments.

Financial Results

During the six months to 30 June 2015, the Group incurred a loss of £267,521 (H1 2014: £290,841), which was mainly attributable to administrative expenses. The Group successfully raised £489,225 through the issue of 2,956,000 shares as mentioned above. As at 30 June 2015 the net assets of the Group were £5.56m (31 Dec 2014: £5.34m). As at 30 June 2015 cash balances were £408,005 (31 Dec 2014: £452,395).

Appreciation  

I would like to first thank the work of Board, our advisors and of course our shareholders for their continuing support for AAA, with of course special thanks to Dr. Sri Hartati Kurniawan. The region that we have invested in seems to be going from strength to strength as it implements its economic reforms and I hope that this will reflect in the fortunes of the Company for the future.

ALL ASIA ASSET CAPITAL LIMITED

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

The notes on page 9 to 12 form an integral part of these financial statements.

ALL ASIA ASSET CAPITAL LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Approved and authorised for issue by the board of directors on 21 September 2015.

The notes on page 9 to page 12 form an integral part of these financial statements

ALL ASIA ASSET CAPITAL LIMITED

CONSOLIDATED STATEMENT OF CHANGE IN EQUITY

The notes on page 9 to page 12 form an integral part of these financial statements

ALL ASIA ASSET CAPITAL LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

The notes on page 9 to page 12 form an integral part of these financial statements

ALL ASIA ASSET CAPITAL LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

1. GENERAL INFORMATION

All Asia Asset Capital Limited (the "Company") is an investment company incorporated in British Virgin Islands on 14 September 2012 with its registered office located on Commerce House, Wickhams Cay 1, P.O. Box 3140, Road Town, Tortola, British Virgin Islands. The shares of the Company are listed on the AIM market of the London Stock Exchange on 2 May 2013.

The principal activity of the Company is to invest in growing markets of Asia Pacific region.

The financial information relating to the six months period ended 30 June 2015 is unaudited and does not constitute statutory accounts.

2. ACCOUNTING POLICIES

The accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2014, as described in those annual financial statements.

Amendments to IFRSs effective for the financial year ending 31 December 2015 do not have a material impact on the Group.

Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings.

There are no other amended standards or interpretations that could be expected to have a material impact on the Group.

The following new standards and amendments to standards have been issued but are not effective for the financial year beginning on 1 January 2015 and have not been early adopted:

IFRS 9 Financial Instruments 1 January 2018

IFRS 14 Regulatory deferral accounts 1 January 2016

IFRS 15 Revenue from Contracts with Customers 1 January 2017

Amendments to IAS 1 Disclosure initiative 1 January 2016

Amendments to IFRS 10 Sale or contribution of assets between 1 January 2016

and IAS 28 an investor and its associate or joint venture

Amendments to IFRS 10, Investment entities: applying 1 January 2016

IFRS 12 and IAS 28 the consolidation exception

Amendment to IFRS 11 Accounting for acquisitions of interests in 1 January 2016

joint operation

Amendments to IAS16 Clarification of acceptable methods of 1 January 2016

and IAS 38 depreciation and amortisation

Amendment to IAS 27 Equity method in separate financial statements 1 January 2016

Annual improvements 2014 1 January 2016

Management expected the adoption of the above amended standards would not have significant impact on the Group.

There are no other amended standards or interpretations that are not yet effective that could be expected to have a material impact on the Group.

ALL ASIA ASSET CAPITAL LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

3. LOSS FROM OPERATIONS

Loss from operations is arrived at after charging:

4. DIRECTORS' REMUNERATION

The emoluments paid or payable to each of the directors were as follows:

For six months period ended 30 June 2015 (unaudited):

ALL ASIA ASSET CAPITAL LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

4. DIRECTORS' REMUNERATION (Continued)

For six months, period ended 30 June 2014 (unaudited):

Notes:

1. Mr. Chu Wai Tak Jonathan appointed on 2 April 2015.

2. Mr. Akekachat Leelapanyalert resigned on 25 March 2015.

3. Mr. Yuhi Horiguchi resigned on 16 June 2014.

5. INCOME TAX

No change to income tax arises in the period as there were no taxable profits in the period. The Company and its subsidiaries, except the Hong Kong subsidiary, are incorporated in BVI and are not subject to any income tax.

The Hong Kong subsidiary of the Company did not record any assessable profits during the period (2014: nil).

No deferred tax asset has been recognised in respect of the tax loss due to the loss are not recognised by the tax authority of relevant jurisdictions.

6. LOSS PER SHARE

(a) Basic loss per share

During the period, the calculation of basic loss per share is based on the loss for the period attributable to shareholders of £206,457 (2014: £209,623) by the weight average number of 210,753,696 ordinary shares in issue during the period (2014: 198,861,072).

(b) Diluted loss per share

No adjustment has been made to the basic loss per share presented for the six months period ended 30 June 2014 and 30 June 2015 in respect of a dilution as the impact of the share options outstanding had an anti-dilutive effect on the basic loss per share presented.

ALL ASIA ASSET CAPITAL LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

7. AVAILABLE-FOR-SALE FINANCIAL ASSETS

The unlisted equity securities are measured at fair value and are classified as Level 3 fair value measurement. Fair value is estimated using Discounted Cash Flow ("DCF") method. There were no changes in valuation techniques during the periods.

8. SHARE CAPITAL