TORONTO, Jan. 15 /CNW/ - Harmony Asset Limited announced that as at
December 31st 2007, the unaudited consolidated net asset value ("NAV") per
share of the company was CAD $0.97 as compared to NAV of November, with a 3.5%
decrease (CAD $1 = HKD $7.6).
The TSX closing price on December 31st 2007 was CAD$0.79 and had a
discounted value of 18.56% compared with the NAV as at December 31st 2007.
Food and Retail sector:
To further expand business scope, one of our investee companies will open
another Japanese restaurant, as well as its second beauty treatment center to
be located in the central district of Hong Kong. The two outlets are expected
to begin business by end of January 2008.
Resource and Material sector:
Prosperity International Holdings (H.K.) Limited, one of our investee
companies, recently acquired a granite mining site. The total estimated
mineral resources of the site is approximately 4,000,000 m(3) which includes
crude dimension stone of approximately 800,000 m(3), and the estimated annual
production volume of feldspar powder and crude dimension stone from the site
is 80,000 tonnes.
Harmony Asset Limited is a Hong Kong-based investment company focused
primarily on unlocking the value in overlooked, privately and publicly held,
emerging Chinese companies. Harmony focuses on the private industry that is
shifting to process technology and value-added services. It positions itself
in sound emerging private companies, with the emphasis on those focusing on
high growth from the domestic market in the following markets: resources and
materials, manufacturing/technology, and food and retail.
Every attempt has been made to ensure the information contained herein is
valid at the time of publication. Any statements involving matters of opinion
or estimates, whether or not so expressly stated, are set forth as such and
not as representations of fact, and no representation is made that such
opinions or estimates will be realized.
For further information:
For further information: Dr Augustine Chow, CEO, Address: Room 1101, St.
George's Building, 2 Ice House Street, Central, Hong Kong, Tel: +852 2545
6883, Fax: +852 2544 9883, Email: email@example.com, Website: