Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Tembusu Investments (NOVA)

  Print      Mail a friend

Tuesday 28 September, 2010

Tembusu Investments

Half Yearly Report

RNS Number : 3384T
Tembusu Investments Limited
28 September 2010
 



TEMBUSU INVESTMENTS LIMITED

('Tembusu' or the 'Company')

 

UNAUDITED HALF-YEARLY REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2010

 

 

28 September 2010

 

 

CHAIRMAN'S STATEMENT

 

As at 30 June 2010 the Company had cash balances of £1,027,193(31 December 2009: £1,096,141).

 

The Company has sought to guard its cash resources in difficult prevailing economic climate, whilst continuing to evaluate potential investments and transactions.

 

With the ongoing recovery in the economic cycle, we remain cautiously confident that the opportunities available to, and prospects for, Tembusu can continue to improve for the remainder of 2010 and into 2011.

 

Investing Policy

 

The Company's Investing Policy is to focus on identifying and acquiring quoted and unquoted financial services businesses based in Asia, though other geographical areas will be considered should appropriate opportunities occur which could benefit the Company.  By actively investing in businesses with complementary areas of expertise, which may for example include real estate, mortgage financing and other such activities, the Directors believe that it is possible to generate considerable opportunities for the cross selling of services between the different operations and countries.  The Directors also intend to continue to make minority investments in such financial services businesses where it would be a passive investor but where those investments provide the opportunity for enhancing the growth prospects of the Company. 

 

In regard to the acquisitions that the Company expects to make, the Directors may adopt earn-out structures, with specific performance targets being set for the sellers of the businesses acquired, and with suitable metrics applied.

 

The Company may invest by way of outright acquisition or by the acquisition of assets, including the intellectual property, of a relevant business, partnerships or joint venture arrangements.  Such investments may result in the Company acquiring the whole or part of a company (which in the case of an investment in a company may be private or listed on a stock exchange, and which may be pre-revenue), and such investments may constitute a minority stake in the company or project in question.  The Company's investments may take the form of equity, joint venture debt, convertible instruments, licence rights, or other financial instruments as the Directors deem appropriate.

 

The Company will be both an active and a passive investor and the Directors will place no minimum or maximum limit on the length of time that any investment may be held.

 

There is no limit to the number of projects into which the Company may invest, nor the proportion of the Company's gross assets that any investment may represent at any time and the Company will consider possible opportunities anywhere in the world.

 

There are no borrowing limits in the Articles of Association of the Company.  The Directors do not intend to acquire any cross-holdings in other corporate entities that have an interest in the ordinary shares.

 

There are no restrictions in the type of investment that the Company might make nor on the type of opportunity that may be considered other than set out in this Investing Policy.

 

As the Company's ordinary shares are traded on AIM this provides a facility for shareholders to realise their investment in the Company.  In addition, the Directors may consider from time to time other means of facilitating returns to shareholders including dividends, share repurchases, demergers, schemes of arrangement or liquidation.

 

 

Jonathan Rowland

Chairman

 

 

For further information, contact:

 

Tembusu Investments Limited

Jonathan Rowland, Chairman                                                             Tel:       + 44 (0)20 7087 7971

Yun Zhang, Director                                                                            Tel:        + 65 6533 2233

Mirza Yahya, Non-Executive Director                                               Tel:       + 1 416 9640728

 

Religare Capital Markets                                                                      Tel:      + 44 (0)20 7444 0800

Nick Harriss

Ben Jeynes

 

 

Tembusu Investments Limited








 

STATEMENT OF COMPREHENSIVE INCOME FOR SIX MONTHS ENDED 30 JUNE 2010





 
















From


From


From






1 Jan 10


1 Jan 09


1 Jan 09




Notes


to 30 Jun 10


to 31 Dec 09


to 30 Jun 09






(Unaudited)


(Audited)


(Unaudited)






£


£


£











Other operating expenses



            (71,417)


       (93,514)


            (51,048)

 

Unrealised losses on financial assets designated at fair value





(107,079)


 (261,991)


(438,317)







________



_________



_________

Operating loss




(178,496)


 (355,505)


(489,365)

Income from sale of held-for-trading investments





 

 

-


    17,500


-

Bank interest income




89


      4,326


3,726







_________



_________



_________

Loss on ordinary activities before taxation


          (178,407)


      (333,679)


                  (485,641)

 











Taxation





-


-


-











Retained loss for the financial period



         (178,407)


      (333,679)


            (485,641)

 











Loss per ordinary share (pence) - basic

3


          (0.297)


        (0.556)


           (0.8)

 

Loss per ordinary share (pence) - diluted



          (0.297)


        (0.556)


           (0.8)

 









 

 

The Company's loss arises from continuing operations.

 

There were no recognised gains or losses other than those recognised in the income statements.

 

 

  

Tembusu Investments Limited








 

STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2010








 
















As at


As at


As at






30 June 10


31 Dec 09


30 June 09






(Unaudited)


(Audited)


(Unaudited)

ASSETS


Note


£


£


£

 










 

Non-current assets









 

INVESTMENTS









 

Investments




            -


   5,174


5,000

 

Financial assets designated at fair value





599,645


   706,723


547,897






599,645


   711,897


552,897










 

CURRENT ASSETS







       



Prepayments




5,908


4,165


        -

 

Cash at bank




       1,027,193


   1,096,141


 1,123,459

 






   1,033,101


1,100,306


 1,123,459

LIABILITIES









 

Current liabilities









 

Trade & other payables



        (31,700)


(32,750)


(48,865)

 

NET CURRENT ASSETS



      1,001,401


1,067,556


1,074,594

 











NET ASSETS




       1,601,046


1,779,453


1,627,491

 











EQUITY










CAPITAL AND RESERVES








 

Called up share capital




     600,000


600,000


              600,000

 

Share premium account



    2,504,061


2,504,061


2,504,061

 

Accumulated loss




    (1,503,015)


(1,324,608)


(1,476,570)

 






-




-

 






  1,601,046


1,779,453


1,627,491

 

 

Tembusu Investments Limited








CASH FLOW STATEMENT FOR THE PERIOD ENDED 30 JUNE 2010






















Period ended


Period ended


Period ended







30 June 10


31 Dec 09


30 June 09







(Unaudited)


(Audited)


(Unaudited)





Note


£


£


£












Cashflows from operating activities








Cash (absorbed) / by operations

4


(69,037)


(129,837)


(67,090)

Cashflow from investing activities


5


89


39,326


3,726

Cashflow from financing activities




-


(174)


-

(DECREASE) IN CASH FOR THE PERIOD


(68,948)


(90,685)


(63,364)

CASH AT THE BEGINNING OF THE PERIOD



1,096,141


1,186,826


1,186,823

CASH AT THE END OF THE PERIOD



1,027,193


1,096,141


1,123,459

 

                                                                                                                                               

 

Tembusu Investments Limited





STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY FOR PERIOD ENDED 30 JUNE 2010














Share

Share

Accumulated

Total





capital

premium

losses









Balance at 31 December 2008


600,000

2,504,061

(990,929)

2,113,132

Loss for the period



-

-

(485,641)

(485,641)

Balance at 30 June 2009


600,000

2,504,061

(1,476,570)

1,627,491

Profit for the period


-

-

151,962

151,962

Balance at 31 December 2009


600,000

2,504,061

(1,324,608)

1,779,453

Loss for the period


-

-

(178,407)

(178,407)

Balance at 30 June 2010


600,000

2,504,061

(1,503,015)

1,601,046

 

 

 

 

NOTES TO THE HALF-YEARLY REPORT

 

1       The Company was incorporated in Bermuda on 21 March 2007 and was admittedto the AIM market of the London Stock Exchange ('AIM') on 11 May 2007, when it commenced its business.  This half-yearly report has been prepared in accordance with International Financial Reporting Standards and on the historical cost basis, using generally recognised accounting principles and using the accounting policies which are consistent with those set out in the Company's Annual Report and Accounts for the year ended 31 December 2009.

 

The half-yearly report for the six months to 30 June 2010, which complies with IAS34, was approved by the Board on 27  September 2010.

 

2       The Directors do not recommend the payment of a dividend.

 

3       The basic and diluted earnings per share are based on the loss for the financial period of £178,407 (30 June 2009: -£485,641; 31 December 2009: -£333,679) and the following weighted average number of shares in issue during the period ended 30 June 2010:

 

                   basic and diluted: 60,000,000 (30 June 2009: 60,000,000; 31 December 2009: 60,000,000)

         

4       Reconciliation of operating loss to net cash inflow from operating activities

     







Period ended


Period ended


Period ended







30 June 10


31 Dec 09


30 June 09







(Unaudited)


(Audited)


(Unaudited)







£


£


£












Operating loss





(178,496)


(355,505)


(489,365)

Provision for quoted investments





107,079


261,991


438,317






(71,417)


(93,514)


(51,048)

Increase / (decrease) in creditors





4,123


(34,658)


(18,542)

(Increase) / decrease in debtors




(1,743)


(1,665)


2,500


















(69,037)


(129,837)


(67,090)

                                                      

5       Cashflow from investing activities

 







Period ended


Period ended


Period ended







30 June 10


31 Dec 09


30 June 09







£


£


£












Sale of held-for-trading investment




-


35,000


-

Bank interest





89


4,326


3,726

Net cash inflow from investing activities



89


39,326


3,726

 

                                                       

6       The issued share capital as at 30 June 2010 and 31 December 2009 was 60,000,000 ordinary shares of 1p each.

7       The preceding unaudited results for the period ended 30 June 2010 do not constitute statutory accounts under the Bermuda Act 1981. The comparative figures for the year ended 31 December 2009 are extracted from the statutory financial statements, which contain an unqualified report.

 

8       The half-yearly report is available from the Company's website (www.tembusuinvestments.com).


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IR ZMGZLLNRGGZG

a d v e r t i s e m e n t