Business
Audited Results for the Financial Year Ended ...
Audited Results for the Financial Year Ended ....
About this update from Asia Wealth Group Holdings Ltd.
[{"type":"text","content":"\n\n \n \n\n\n\n\n9 August 2023\nAsia Wealth Group Holdings Limited\n(\"Asia Wealth\", the “Group” or the \"Company\")\nAUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023\nChairman’s Statement\nThe Board is pleased to report the audited results of the Company for the Financial Year from 1 March 2022 to 28 February 2023. The audited accounts will shortly be available on the Company’s website, www.asiawealthgroup.com.\nThe Company reports a consolidated loss of US$188,250 (2022 : Profit US$11,266). The loss would have been smaller had it not been for excessive unrealized currency losses from our JPY yen holdings.\nThe Company continues to search for new areas of business expansion opportunities in South East Asia and in Europe, where it is has identified and engaged in meaningful discussions which should soon lead to a boost in business volumes. The Company’s main source of income continued to be through Meyer Asset Management Ltd, a wholly owned subsidiary of the Company.\nThe Board remains focused on further acquisitions and partnerships in Asia and Europe as well as the south-east Asian region. The Board has a cash surplus to seek further acquisitions and is currently in active discussions with businesses in the Wealth Management and Fintech space.\nI would again like to thank the Company’s staff for their hard work throughout the year and shareholders for their support and we look forward to taking advantage of the opportunities which we expect to encounter in the forthcoming year.\nThe Directors do not recommend the payment of a dividend for the year ended 28 February 2023.\nRichard Cayne\nChairman\nQualified Opinion\nPertaining to a US$42,349 private investment, the auditor was unable to obtain sufficient audit evidence as to whether the value that it was carried at in the Group’s consolidated financial statements represented its market value. Otherwise the opinion states that the consolidated financial statements present fairly, in all material respects. \nThe Directors of the Company accept responsibility for the content of this announcement.\nContacts: \nRichard Cayne (Chairman and CEO) \nAsia Wealth Group Holdings Limited, +66 (0) 2611-2561\nGuy Miller (Corporate Advisers)\nPeterhouse Capital Limited, +44 (0) 20 7469 0930 \nwww.asiawealthgroup.com \n\n\n\n\n\n\nASIA WEALTH GROUP HOLDINGS LIMI...