Alpha Returns makes maiden investment under new Asia-centric focus

Alpha Returns, the AIM-listed investment company formerly known as Shidu Capital, saw its share price jump on Tuesday after making its first investment under its new strategy.The firm, which changed its policy this summer to step away from natural resources and instead focus on the geographical region of Asia, said it is to acquire a 37.5% stake in Singaporean IT services group Telistar Solutions. It is paying S$1.03m (around £0.51m) for the shareholding, payable over the next two years.Telistar is said to have "significant growth potential" with plans to expand initially into mainland China. "We believe our investment in Telistar to be an exciting first step for Alpha Returns with significant upside potential and a strong long-term sales pipeline into 2014 and beyond and we look forward to announce further investments within the Asia-Pacific area," said Executive Director Christopher Neo.The news comes just a few days after the resignation of Chairman Angus Forrest, who has been on the board since 2004.The stock was up 16.53% at 2.18p by Tuesday afternoon, though still stands around 44% lower than it did at the start of 2013.BC