TORONTO, Jan. 15 /CNW/ - Harmony Asset Limited announced that as at December 31st 2007, the unaudited consolidated net asset value ("NAV") per share of the company was CAD $0.97 as compared to NAV of November, with a 3.5% decrease (CAD $1 (equal sign) HKD $7.6).
The TSX closing price on December 31st 2007 was CAD$0.79 and had a discounted value of 18.56% compared with the NAV as at December 31st 2007.
Food and Retail sector:
To further expand business scope, one of our investee companies will open another Japanese restaurant, as well as its second beauty treatment center to be located in the central district of Hong Kong. The two outlets are expected to begin business by end of January 2008.
Resource and Material sector:
Prosperity International Holdings (H.K.) Limited, one of our investee companies, recently acquired a granite mining site. The total estimated mineral resources of the site is approximately 4,000,000 m(3) which includes crude dimension stone of approximately 800,000 m(3), and the estimated annual production volume of feldspar powder and crude dimension stone from the site is 80,000 tonnes.
About Harmony
Harmony Asset Limited is a Hong Kong-based investment company focused primarily on unlocking the value in overlooked, privately and publicly held, emerging Chinese companies. Harmony focuses on the private industry that is shifting to process technology and value-added services. It positions itself in sound emerging private companies, with the emphasis on those focusing on high growth from the domestic market in the following markets: resources and materials, manufacturing/technology, and food and retail.
Disclaimer
Every attempt has been made to ensure the information contained herein is valid at the time of publication. Any statements involving matters of opinion or estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that such opinions or estimates will be realized.