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.
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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