Source - SMW
All Asia Asset Capital has reported that, during the 12 months ended 31 December 2016, the Company made a net loss of £0.5m before taking into account the impairment on the Company's investment in APU (2015: net loss of £0.3m).

The Company said an impairment charge of £3.8m was incurred in the 12 month period reflecting the situation encountered with APU and the subsequent sale by AAA of its interest in APU for approximately £0.8m.   During the period, the majority of the assets of the Group consisted of its two investments in APU and MAG which, as at 31 December 2016, had a carrying value of £2.4m in AAA's balance sheet. AAA's investments in APU and MAG have been attributed fair values of £0.8m and £1.59m respectively as at 31 December 2016.

The valuation on APU takes into consideration, retrospectively, the sale of Energy Central Limited that took place post year end.   As at 31 December 2016 the net assets of the Group were £2.12m (31 December 2015: net assets of £5.68m) and the Group had cash and cash equivalents of £0.04m (31 December 2015: cash and cash equivalents of £0.19m).

At 2:17pm: (LON:AAA) All Asia Asset Capital Ltd share price was -1.5p at 3.5p