Business
Half Yearly Report
Half Yearly Report.
About this update from Worldsec Limited
[{"type":"text","content":"\n \nRNS Number : 2538Q Worldsec Ld 28 August 2014 \n \n\n \n \n \n \n \n \n \n\n \nWORLDSEC LIMITED\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nInterim Report for the six months ended 30 June 2014\n \n \n\n\n\n \nWorldsec Limited\n \nInterim Report for the six months ended 30 June 2014\n \n \nThe board (the \"Board\") of directors of Worldsec Limited (the \"Company\") hereby submits the interim report on the Company and its subsidiaries (collectively known as the \"Group\") for the six months ended 30 June 2014. \n \nFor the six months ended 30 June 2014, the unaudited results of the Group showed a net loss of US$176,000 , equivalent to a loss per share of 0.3 US cent. This compares with a net loss of US$108,000 and a loss per share of 0.8 US cent for the corresponding period in the previous year. The decline in the loss per share basically reflects the increase in the number of shares as a result of the share issue associated with the fund raising exercise in August 2014. As at 30 June 2014, the Group's total equity stood at US$4.07 million, as compared to US$4.24 million as at the 31 December 2013, and the unaudited net asset value per share amounted to 7.2 US cents.\n \nDuring the first six months of the current financial year, the Group had been actively looking for and exploring potential investment opportunities. In this connection, a number of investment proposals had been identified and put forward to the Board for review and discussion. However, due to the valuation expectations of the investee companies in question, the Board noted that the amounts of investment required for these proposals were generally significant relative to the size or the gross assets of the Group and after due and careful evaluation and deliberation concluded that the risk return profiles of these proposals, with the exception of one, were not particularly favourable to suit the investment criteria of the Company. The one that remains under further consideration is a new start-up company aiming to provide education services to kindergartens in China (the \"Kindergarten Project\"). ...