|By ACN Newswire||
|November 27, 2012 10:06 PM EST||
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
About Quam Limited
Quam Limited is a Hong Kong-based financial services group which was listed on the SEHK in 1997. After a series of strategic acquisitions beginning in 2001, the Group is now comprised of seven core businesses namely, Quam Securities, Quam Capital, Quam Asset Management, Quam Private Wealth, Quam Private Equity, Quamnet.com and Quam Investor Relations. By utilizing the best of both its online resources and solid expertise, Quam strives to become the ideal partner for both corporate and individual investors in Hong Kong and China. Quam also offers premier one-stop financial services to its clients. In addition, Quam provides capital markets services through its representative offices or the wholly-owned foreign enterprises in Shenzhen, Shanghai, Shenyang, Ningbo, Dalian, Beijing, Chengdu, Hangzhou and Xiamen of the PRC and through its Global Alliance Partners network in Japan, Thailand, UAE, the United States, Vietnam, the UK, Africa, Mongolia, Nepal, Switzerland, India and Canada. For more information on Quam, please visit its website at www.quamlimited.com .
Source: Quam Limited
Quam IR Ms Anita Wan Tel: +852 2217-2811 E-mail: [email protected] Ms Sharon Au Tel: +852 2217-2812 E-mail: [email protected] Ms Venus Lam Tel: +852 2217-2813 E-mail: [email protected]
Copyright 2012 ACN Newswire. All rights reserved.
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Nov. 30, 2015 03:56 PM EST
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Nov. 30, 2015 03:45 PM EST
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Nov. 30, 2015 03:30 PM EST
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 30, 2015 03:15 PM EST Reads: 242
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 30, 2015 03:00 PM EST Reads: 492
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 30, 2015 02:00 PM EST Reads: 366
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 30, 2015 01:45 PM EST Reads: 434
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 30, 2015 01:45 PM EST Reads: 430
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 30, 2015 01:00 PM EST Reads: 537
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 30, 2015 12:45 PM EST Reads: 342
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 30, 2015 12:45 PM EST Reads: 288
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 30, 2015 11:00 AM EST Reads: 218
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 30, 2015 10:45 AM EST Reads: 462
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 30, 2015 10:30 AM EST Reads: 354
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 30, 2015 10:00 AM EST Reads: 291