BVI company engaged in Asian properties market announces its financial results for Q2, 2006
The BVI company Asian Growth Properties Limited this month has announced its financial results for the period ended 30 June 2006. The results for immediate release were extracted from the unaudited financial statements of the company.
According to this company release, the pre-tax profit for this period of time was HK$5.0 million, which made a 4% increase over the corresponding period. The Net profit after tax for the period was HK$4.4 million, while in 2005 it was HK$3.9 million.
It is stated in the financial summary that the company has property assets of HK$1.618 billion and cash reserves of HK$598.3 million. The company’s net assets have increased over HK$4.4 million from 31 December 2005, and made the amount of HK$1.575 billion.
The company’s revenues have been derived mainly from rental, interest and investment income during the first six months of 2006. The AGP has reported on the development of the Wanchai Road and San Po Kong projects, and on the progress in the development of Sha Tin new territories in Hong Kong.
The AGP has the intention to invest mainly in the property sectors within Asia region, so currently it is looking for further investment opportunities mainly in Hong Kong and China.
The company Asian Growth Properties was incorporated on 17 February 2004 in the British Virgin Islands and is generally functioning as an investor and developer of commercial, retail and residential properties in Asia. The strategy of the AGP is based mainly on investing within those sectors of the Asian markets where AGP has competitive advantages and within markets where future growth opportunities are identified.