Interim Results
September 23 2008 - 6:53AM
UK Regulatory
RNS Number : 0738E
Tai Zi Capital Ltd
23 September 2008
23 September 2008
Tai Zi Capital Ltd ("Tai Zi", or the "Company")
Interim Results for the six months ended 30 June 2008
Highlights
* Admitted to AIM on 1 July 2008
* Funds to invest of �3m at admission to AIM
* Intends to actively invest and manage properties in major cities within Taiwan, Mainland China, Hong Kong, Macau, and Greater
China District.
* The company will invest in a range of offices, commercial and residential properties and other retail buildings in and around
major urban centers.
* The company will also invest in the construction and development or refurbishment of properties, either wholly owned by the
company or as joint ventures in conjunction with other investors.
A copy of the interim results is available on the Company's website www.taizicapital.com
For further information, please contact:
Lawrence Man Kwan NG
Tai Zi Capital Ltd +852 3719 7300
www.taizicapital.com
Dominique Doussot/Jonathan Evans +44 (0) 20 7060 1760
Zimmerman Adams International Ltd
www.zimmint.com
Chairman's statement
Tai Zi was admitted to AIM on 1 July 2008 as an investing company seeking to actively invest and manage properties in the Far East of
Asia. As at 30 June 2008, the Company had not entered into the subscription arrangement with the shareholders to raise �3m, therefore, no
investments were made. Also, our first interim results reflect merely the operating costs of maintaining the Company.
Following admission to AIM we are aiming to deliver on our strategy focusing on the following three areas:
* To build shareholder value by acquiring properties and growing a portfolio of rental investment properties located in major cities
in Far East Asia including Taiwan, Hong Kong, Macau and possibly other areas of China.
* To provide attractive cash flows and yields together with opportunities for further revenue growth through proactive property
management.
* To seek and invest in other property related companies.
Outlook
The current economic climate is turbulent, however, we firmly believe our target markets will continue to grow and provide is with
attractive opportunities to create shareholder value.
The Board is confident the Company is positioned to continue to expand.
CHEN Jen-Ching
Chairman of the Board
23 September 2008
CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2008
Unaudited6 months to 30.06.2008USD
Revenue 0
Cost of sales 0
Gross profit 0
Administrative expenses 289,303
Other operating loss 0
Operating loss 289,302
Finance income 0
Finance costs 0
Profit/(loss) on ordinary 0
activities before taxation
Taxation 0
Profit/(loss) for the period -289,303
CONDENSED CONSOLIDATED BALANCE SHEET
FOR THE SIX MONTHS ENDED 30 JUNE 2008
Unaudited6 months to 30.06.2008USD
ASSETS
Non-current assets 0
Current assets
Trade and other receivables 500,000
Prepayment 2,183
TOTAL ASSETS 502,183
EQUITY AND LIABILITIES
Share capital 500,000
Loss for the period -289,303
Total equity 210,697
Non-current liabilities 0
Current liabilities
Trade and other payables 291,486
Total liabilities 291,486
TOTAL EQUITY AND LIABILITIES 502,183
NOTED TO THE CONDENSED CONSOLIDATED INTERIM FINANCE STATEMENTS
1. GENERAL INFORMATION
The Company was incorporated in the Cayman Islands as a limited liability company under the Companies Law (2000) Revision on 10 July
2000. The registered office of the Company is located at 4th Floor, George Town, Grand Cayman, Cayman Islands. Its principal place of
business is located at Unit 2204, 22nd floor, Convention Plaza Office Tower, No.1 Harbour Road, Wanchai, Hong Kong.
The principal activities of the Company are property investing and management. The principal activity of the Company is investment
holding.
The Company's shares were admitted to trading on the Alternative Investment Market ("AIM") of the London Stock Exchange. These condensed
consolidated interim financial statements are presented in United States Dollars, unless otherwise stated, and were approved for issue by
the Board of Directors on 25 Jun 2008.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of preparation
The Company has a financial year end date of 31 December. These condensed consolidated interim financial statements for the six months
ended 30 June 2008 have been prepared in accordance with International Accounting Standard 34, "Interim Financial Reporting". These
condensed consolidated interim financial statements should be read in conjunction with the annual financial statements of the Company for
the year ended 31 December 2007.
2.2 Significant accounting policies
The condensed consolidated interim financial statements have been prepared under the historical cost convention except for certain
financial assets and liabilities which are stated at fair values.
The accounting policies and methods of computation used in the preparation of these condensed consolidated interim financial statements
are consistent with those used in the annual financial statements for the year ended 31 December 2007 except for the adoption of standards,
amendments and interpretations used by the International Accounting Standards Board mandatory for annual financial periods beginning 1
January 2008.
The adoption of these standards, amendments and interpretations was not material to the Company's results of operations or financial
position.
3. EARNING/(LOSS) PER SHARE
Loss: 289,303
Number of shares: 500,000
(Loss) per share: 0.578
4. SHARE CAPITAL
Numberof shares AmountUSD
Authorised share capital:
Ordinary shares of USD1 each 500,000 500,000
Issued and fully paid:
Ordinary shares of USD1 each 500,000 500,000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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