PAF Announces Weekly Net Tangible Assets

The PM Capital Asian Opportunities Fund Limited (ASX: PAF) is managed by PM Capital Limited. Since 2014, it provides investors with options to invest in Asian Region (ex- Japan) through an ASX listed investment company. It creates long term wealth opportunities through concentrated portfolios, of 15-35 quality companies within Asia (ex-Japan).

On 14 May 2019, the company announced its weekly NTA (Net Tangible Assets) after fees and expenses. NTA refers to the net assets of the company after calculating the accruals for net current and deferred tax liabilities or assets. The NTA before tax accruals along with $0.064 of franking credits per ordinary share were reported to be $1.1381 per ordinary share. The Approximate NTA after tax was $1.0946 per ordinary share.

It can be noticed that the NTA after tax was down by $0.0294 from the figure reported on April 30, which was $1.1240 per ordinary share.

On 30 April 2019, the company announced its Net Tangible Assets & Monthly Investment Report. The company provided portfolio commentary. It stated that after the tense relation between China and South Korea improved, Hyundai Motors and AmorePacific made positive contributions of 17% and 9% respectively. The decrease in tension between China and South Korea bodes well for both the companies and could have a positive impact on their earnings for the coming couple of years. Hyundai faced a dip in its vehicle demand in China. On the other hand, AmorePacific witnessed less tourists visiting from mainland China.

Other positive news came from Frontier Digital Ventures, up 12%. It recorded a positive cash receipt for the first quarter. 9 out of 14 of its investments generate a revenue worth more than A$1million. is its largest investment and its revenue soared up by 98% year-over-year recording its first ever quarterly profit.

Adding to this were Wynn Resorts and Melco Entertainment. They were up 21% and 11% respectively. Wynn witnessed an interesting month where the company proposed and then dropped the takeover bid for Crown. Besides this, Wynn Resorts received its Boston license confirmed by the Massachusetts Gaming Commission. Encore Boston is set to open June 2019. PAF believes that the market underrates the earning capacity of this particular property.

The monthly NTA reported was as under:

As of 30 April 2019, the portfolio investments of the company and their weightage were as under:

The company also provided its Domicile of Listing. This represents the location of stock exchange listing of each entities’ head office. Below is a chart depicting the same:

Share Price Information:

On the technical front, the stock is trading down by 1.042% and is priced at A$0.950 as at 3:58 PM AEST on 14 April 2019. PAF’s market cap is A$54.62m. In the last six months, the stock has delivered a return of -11.11% while the YTD return stands a little better at -4.00%.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.





Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK