Quam reports loss for H1
Dec 06, 2012 (Datamonitor via COMTEX) --
Quam Limited., a Hong Kong-based financial services group, has reported a loss attributable to owners of the company of HK$4.42 million, or loss of 0.38 cents per share, for the six months ended September 30, 2012, compared to a profit attributable to owners of the company of HK$238,000, or 0.02 cents per share, for the same period ended September 30, 2011.
Revenue for the six months ended September 30, 2012 was HK$157.42 million, compared to HK$197 million for the same period ended September 30, 2011.
Kenneth LAM, the CEO of Quam, said: "Despite challenging market conditions with uncertainties in global economy, our market shares and Category B status on HKEx maintained, with further steady growth in futures business in terms of volume and turnover, positive growth trend in corporate finance business, inflows of investment to our managed funds and modest performance fees of Asset Management division were captured for the month of September. During the Period, the major relocation of our Head office and other divisions provided added benefits by consolidating our operations and making them more efficient."
Bernard POULIOT, chairman of Quam, said: "Asia market remains the safe haven with influx on capital. The strong demand of wealth protection with diversified investment portfolio provides a golden opportunity for us. We are considering closer integration between wealth management and asset management divisions by way of short term money management and medium term capital preservation strategies to generate absolute return for our clients.
"In addition, a newly innovated platform of trading tools that jointly collaborated by Quamnet and securities trading units will be soft launched in the first quarter of 2013, which will give a competitive advantage to both. Benefited from our core business and ongoing cost control measures, we are well-poised to move forward in the near future."
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