reports
- Roger Leboff
Resilient H1 2020 performane despite pandemic
ADAM’s interims confirm operational progress, recent initiatives to strengthen its balance sheet and build investment capacity, plus details regarding ongoing efforts to stabilise legacy assets and move them towards satisfactory exit. The report covers the period ending 30 June 2020, the eye of the pandemic storm, during which underlying portfolio performance remained encouragingly robust. Total income was USD1.19m (H1 19: USD1.25m) and comprised interest payments and fair value adjustments....
- Roger Leboff
Funds secured to drive portfolio growth
ADAM has announced a fully underwritten Open Offer and Placing which will raise £3,134,710 gross. The new ordinary shares will be issued at 25p, a 13.8% discount to last night’s closing price and, on a per share basis, a discount of c. 60% to the audited net asset value of $100.9m at 31 Dec 2019. One Open Offer Warrant is issued with each share; it has an exercise price of 40p and a three-year exercise period from date of issue. ADAM has received binding commitments to subscribe for any n...
- Roger Leboff
Strong revenue growth emerging
The highlight of FY19 results was an over six-fold increase in gross portfolio income to USD2.24m, as ongoing repositioning of the investment portfolio moved it closer to the point where it will support sustainable dividends. The period was, of course, pre COVID-19, but ADAM does not expect any material impact on portfolio valuations for FY20. Each investment has a strategy in place to actively manage operational exposure and mitigate the pandemic’s impact. Asia’s SMEs, already lacking acc...
- Roger Leboff
Good progress at ADAM's largest investment
ADAM holds an 85% controlling shareholding in Future Metal Holdings (FMH) As at 30 September 2019, that stake represents 45.2% of its portfolio. The business consists of the largest magnesium dolomite quarry in Linfen City, Shanxi Province, China and ADAM believes that FMH is in a strong position to capture the growth of the substantial magnesium market in China. Progress vs operational and strategic targets at the quarry is key to understanding FMH’s potential and any assessment of ADAM’s...
- Roger Leboff
Just what the doctor ordered
DocDoc is an innovative business with considerable growth potential plus early mover/competitive advantages. We believe it is disruptive in ways that benefit its key industry stakeholders: patients, medical practitioners and insurers. We recently met DocDoc’s CEO Cole Sirucek to discuss the company’s business model and growth strategy and regard Singapore-based DocDoc as a prime example of the potential of ADAM’s investment template.
- Roger Leboff
Capital raise & new income producing deal
Adamas Finance Asia has just made two significant announcements: a conditional share sale and purchase agreement with an existing portfolio investment, and a bond issue. The new capital supports ADAM’s capability to execute on its extensive pipeline, further diversify its portfolio and grow its income. These will help support ADAM’s underlying equity valuation and growth strategy, income for shareholders, and ensure that it will be able to commence dividend payments to its investors soon. It...
- Roger Leboff
Portfolio additions build income stream
Adamas Finance Asia aims to be the leading London-quoted pan-Asian focused diversified SME investment holding vehicle. It targets above average income and capital growth, with a stated objective to provide shareholders with unique access to a diversified portfolio with access to high-growth Asian economies. The key message from the recent interim result was the material increase in total portfolio income, from US$0.05m (H1 2018) to US$1.25m in the first six months this year. We see that as the ...
- Roger Leboff
Transition to new strategy on track
ADAM’s FY18 figures do not fully convey the successful efforts of the investment manager in restructuring the inherited portfolio. The latter is now far more coherent than it was 18 months ago, divided between stable, non-strategic assets held for sale and recently made, income-generating investments. Two attractive transactions were completed post the year-end and future reports should consequently reflect a more diversified income-focused investment strategy. Since its appointment as ADAM...
- Roger Leboff
Adamas Finance Asia
Adamas Finance Asia aims to be the leading London-quoted pan-Asian focused diversified SME investment holding vehicle. It targets above average income and capital growth, with a stated objective to provide shareholders with unique access to a diversified portfolio with access to high-growth Asian economies. It has announced a proposed new US$5m investment in a medical devices company called PharmaJet Inc (PharmaJet). This follows a US$4m investment in a residential project in a popular Japanese ...
- Roger Leboff
Initial investment in Asian winter tourism
Adamas Finance Asia (“ADAMâ€) aims to be the leading London-quoted pan-Asian focused diversified SME investment company. It targets above average income and capital growth, with a stated objective to provide shareholders with unique access to a diversified portfolio sourced from high-growth Asian economies. Their latest investment fits its investment mandate by providing an immediate, attractive income stream, which reaffirms the potential for future dividends, and capital growth over the me...
- Roger Leboff
Unique access to Asian SME growth
Over the last 16 months, its new Investment Manager, Harmony Capital Investors Limited (“Harmony Capitalâ€), has begun to reposition ADAM to address its past underperformance. It has restructured and stabilised its legacy portfolio and built a pipeline of new potential investments which fit with ADAM’s revised investment policy. We set out the investment case in this note and how ADAM plans to leverage its competitive positioning to build a portfolio that supports progressive income distri...
1 director bought
A director at Adamas Finance Asia Ltd bought 113,360 shares at 0.635USD and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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