New Capital
Contrarian, deep value, long/short equity, special situations

Asia Standard - Dollar Selling For 4 Cents

(Editors' Note: Asia Standard International trades on the Hong Kong Exchange under the ticker 0129.HK, with ~1M HKD average daily volume).

Company background

Asia Standard International Group (later ASI) is a 30 years old Hong Kong company that develops, manages and invests in commercial, residential, retail and hotel properties in Hong Kong and first tier cities in China. The company's main income streams are detailed in the chart below and come from (1) development and subsequent sale of real estate, (2) rental income from its investment properties in Hong Kong, (3) hotel operations and (4) returns on investments in listed equities and debt securities.

(click to enlarge)

Source: Investor presentation, June 2013.

ASI is listed in Hong Kong stock exchange...

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