|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 emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Jan. 21, 2017 10:00 AM EST Reads: 5,657
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
Jan. 21, 2017 10:00 AM EST Reads: 5,080
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Jan. 21, 2017 07:45 AM EST Reads: 2,445
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
Jan. 21, 2017 07:30 AM EST Reads: 1,300
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 21, 2017 07:15 AM EST Reads: 933
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Jan. 21, 2017 06:45 AM EST Reads: 1,947
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
Jan. 21, 2017 06:30 AM EST Reads: 1,656
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Jan. 21, 2017 06:00 AM EST Reads: 2,080
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Jan. 21, 2017 05:30 AM EST Reads: 3,553
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Jan. 21, 2017 05:00 AM EST Reads: 4,051
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Jan. 21, 2017 05:00 AM EST Reads: 3,024
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
Jan. 21, 2017 03:45 AM EST Reads: 1,988
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Jan. 21, 2017 02:30 AM EST Reads: 6,123
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors an...
Jan. 21, 2017 02:30 AM EST Reads: 5,045
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jan. 21, 2017 02:15 AM EST Reads: 5,369