Welcome!

News Feed Item

Quam Announces 2012/13 Interim Results

Able to Maintain Market Share on SEHK and Category B Status Amid Unfavourable Markets

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

Contact:
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.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...