Less Ads, More Data, More Tools Register for FREE

Pin to quick picksADAM.L Share News (ADAM)

  • There is currently no data for ADAM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Adamas Reports Recent BRJ China Credit Fund Exit And New Investments

Thu, 14th Aug 2014 09:30

LONDON (Alliance News) - Adamas Finance Asia Ltd Thursday said a fund in which it has invested has achieved a gross internal rate of return of 57% from newly-exited Project Jinhua.

Adamas has invested USD800,000 in BRJ China Credit Fund Ltd, which made the exit.

BRJ was launched in August 2013 by Hong Kong-based Adamas Asset Management (HK) Ltd, which since February 2014 has been has been acting as Adamas's investment manager.

With Project Jinhua, BRJ provided short-term finance for a real-estate developer in Jinhua, city in the Zhejiang province of China. The borrower has now repaid in full both the principal and interest on the CNY30 million.

The exits from Project Jinhua, Project Renheng and Project Changlelu have increased BRJ's net asset value, and the cash generated is available for future investment, Adamas said.

Furthermore, BRJ has recently funded another two deals, Project Innovation and Project Landmark.

Project Innovation is a USD520,853 loan to a natural resource trading company as an advance upfront payment for its oil trading business. A convertible bond issued by a Hong Kong main-board listed company is the collateral backing the project. It has an overall loan-to-value ratio of 20.55%.

The collateral was further underpinned by a personal guarantee from one of the main shareholders of another Hong Kong main-board listed company with a current market cap of approximately USD1.0 billion, Adamas said.

Project Landmark is a CNY30 million loan to a company which is "able to purchase some shops at a substantial discount to market rate."

"BRJ will be purchasing the shops on the borrower's behalf, and hence the shops will be owned by BRJ as collateral with a loan-to-value ratio of 50%. The shops are located in a shopping mall in a prime location in Zhejiang, China," Adamas said.

Adamas Finance Asia shares were untraded in London Thursday, last quoted at USD0.70 per share.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2014 Alliance News Limited. All Rights Reserved.

More News
12 Sep 2016 10:13

Adamas Finance Loss Narrows As It Looks To Dispose Of Legacy Portfolio

Read more
6 Jul 2016 08:49

Adamas Finance Asia Says GCCF Fund Exits From HK Media Investment

Read more
28 Jun 2016 10:38

Adamas Finance Asia Receives Repayment Of USD2.4 Million Loan

Read more
23 Jun 2016 13:14

Adamas Finance Asia posts drop in assets, wider loss

(ShareCast News) - Adamas Finance Asia posted its results for the 2015 calendar year on Thursday, and revealed a consolidated net asset value of $115m at year-end, down from $118.9m a year earlier. The AIM-traded firm reported a wider loss for the year, at $3.9m, compared with $0.545m in 2014. Year

Read more
23 Jun 2016 08:21

Adamas Finance Asia Net Asset Value Falls On Failed Asset Disposals

Read more
6 Apr 2016 14:42

Adamas Finance Asia realises BRJ investment

(ShareCast News) - AIM-traded Adamas Finance Asia Ltd (ADAM) realised one of its investments on Wednesday, announcing that the Greater China Credit Fund (GCCF) had acquired the Renminbi Qualified Foreign Limited Partner vehicle (RQFLP) of BRJ China Credit Fund. GCCF was launched by Adamas Asset Mana

Read more
6 Apr 2016 10:06

Adamas Finance Asia Realises Investment In BRJ China Credit Fund

Read more
6 Apr 2016 09:54

Best And Worst Performing London-Listed Funds In March - QuotedData

Read more
1 Apr 2016 10:45

Adamas Finance Says Global Pharm Not Ready To Resume Monthly Payments

Read more
7 Jan 2016 15:15

Adamas Finance Reviews Holding In Chinese Miner After Failing To List

Read more
22 Dec 2015 11:36

Adamas Finance Asia Seeks New Broker After Edmond De Rothschild Quits

Read more
4 Dec 2015 07:59

Adamas Finance Asia Manager In Joint Venture Fund With Ping An Group

Read more
30 Nov 2015 14:59

Adamas Finance Asia Says Payments Due From Global Pharm Not Received

Read more
21 Oct 2015 10:35

Adamas Finance Asia In Revised Payment Deal With Global Pharm

Read more
5 Oct 2015 09:03

Adamas Finance Asia Invests USD3 Million In Greater China Credit Fund

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.