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Adamas Finance Asia’s Hong Kong Mining Holdings Limited expects to restart operations this year

The pan-Asian investment vehicle also reported that its net asset value as of 30 June had remained unchanged from the end of March at 88p per share

Adamas Finance Asia - Adamas Finance Asia’s Hong Kong Mining Holdings Limited expects to restart operations this year

Adamas Finance Asia Limited’s (LON:ADAM) portfolio firm, Hong Kong Mining Holdings Limited (HKMH), is expecting to restart operations in the second half of this year.

In a portfolio update, the pan-Asian investment vehicle said HKMH’s onshore management team in the People’s Republic of China (PRC) had also applied to acquire additional land in Shanxi province for mining activities, with approval expected in the current quarter.

READ: Adamas Finance Asia splits Japanese investment with new co-investment partner

The company also said Fook Lam Moon Holdings, one of its other investments, was exploring expansion opportunities for its catering business, while its 1-star Michelin restaurant, Guo Fu Lou, was continuing to attract “domestic and international gourmands”.

Meanwhile, Adamas said one of its other holdings, DocDoc Pte Ltd, had been invited to speak about their contribution to the ASEAN healthcare sector at the United Nations Consultative Forum on Investment in the Healthcare Industry in Bangkok in June.

Infinity Capital Group Limited, which owns a luxury ski resort in Japan, had also been on the move, holding market events across Asia in the second quarter of the year. The firm was also expected to complete an internal fit-out this quarter for its Tellus Niseko project, a development on the Japanese island of Hokkaido.

As of 30 June 2019, Adamas reported that its estimated net asset value (NAV) was 88p per share, unchanged from its NAV at 31 March.

In late-morning trading on Monday, Adamas shares were down 12.5% at 35p.

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Quick facts: Adamas Finance Asia Limited

Price: 28.5 GBX

Market: AIM
Market Cap: £25.05 m

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