ARC Capital Holdings Interim Results for the -3-
September 27 2010 - 3:17AM
UK Regulatory
shareholders through its investment strategy focused on China's retail and
consumer sectors.
ARC Capital Partners Limited
Investment Manager
24 September 2010
Consolidated Statement of Assets and Liabilities as at 30 June 2010
+--------------------------------+-------+--------------------+----------------------+
| | Note | 30 June | 31 |
| | | 2010 | December |
| | | US$ | 2009 |
| | | | US$ |
+--------------------------------+-------+--------------------+----------------------+
| Assets | | (unaudited) | (audited) |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Investments, at fair value | | | |
+--------------------------------+-------+--------------------+----------------------+
| (Cost: 30 June 2010: | | | |
| US$489,749,267; | | | |
+--------------------------------+-------+--------------------+----------------------+
| 31 December 2009: | 3 | 661,496,412 | 690,663,238 |
| US$533,673,270) | | | |
+--------------------------------+-------+--------------------+----------------------+
| Investment deposits | 8 | 13,582,980 | 13,582,980 |
+--------------------------------+-------+--------------------+----------------------+
| Other assets | 9 | 20,733,016 | 20,081,317 |
+--------------------------------+-------+--------------------+----------------------+
| Cash and cash equivalents | 10 | 42,991,457 | 5,817,051 |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Total assets | | 738,803,865 | 730,144,586 |
+--------------------------------+-------+--------------------+----------------------+
| | | ----------------- | ------------------ |
+--------------------------------+-------+--------------------+----------------------+
| Liabilities | | | |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Investment management fee | 4 | - | 6,546,401 |
| payable | | | |
+--------------------------------+-------+--------------------+----------------------+
| Performance fee payable | 5 | 10,406,850 | 10,406,850 |
+--------------------------------+-------+--------------------+----------------------+
| Borrowings | 11(a) | 75,204,601 | 74,703,384 |
+--------------------------------+-------+--------------------+----------------------+
| Deferred tax | 7 | 43,114,553 | 33,590,910 |
+--------------------------------+-------+--------------------+----------------------+
| Other payables and accruals | 12 | 26,336,801 | 19,973,430 |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Total liabilities | | 155,062,805 | 145,220,975 |
+--------------------------------+-------+--------------------+----------------------+
| | | ------------------ | -------------------- |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Net assets | | 583,741,060 | 584,923,611 |
+--------------------------------+-------+--------------------+----------------------+
| | | =========== | =========== |
+--------------------------------+-------+--------------------+----------------------+
| Shareholders' equity | | | |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Share capital | 13(a) | 4,295,334 | 4,295,334 |
+--------------------------------+-------+--------------------+----------------------+
| Share premium | 13(b) | 529,989,036 | 529,989,036 |
+--------------------------------+-------+--------------------+----------------------+
| Retained earnings | | 48,378,478 | 49,410,990 |
+--------------------------------+-------+--------------------+----------------------+
| Foreign currency translation | | 1,078,212 | 1,228,251 |
| reserve | | | |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| | | 583,741,060 | 584,923,611 |
+--------------------------------+-------+--------------------+----------------------+
| | | =========== | =========== |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
| Net Asset Value per share | 17(a) | 1.36 | 1.36 |
+--------------------------------+-------+--------------------+----------------------+
| | | =========== | =========== |
+--------------------------------+-------+--------------------+----------------------+
| | | | |
+--------------------------------+-------+--------------------+----------------------+
Approved by the Board of Directorson 24 September 2010.
The accompanying notes are an integral part of these consolidated financial
statements
Consolidated Schedule of Investments as at 30 June 2010
+--------------+------------+------------+-------------+--------+----------+--------+------------+--------+
| | Instrument | 30 June 2010 (unaudited) | | 31 December 2009 |
| | | | | (audited) |
+--------------+------------+-----------------------------------+----------+------------------------------+
| | | | | | | | |
+--------------+------------+------------+-------------+--------+-------------------+------------+--------+
| Investment | | Cost | Fair | % of | Cost | Fair | % of |
| (Note 3) | | | value | net | | value | net |
| | | | | assets | | | assets |
+--------------+------------+------------+-------------+--------+-------------------+------------+--------+
| | | US$ | US$ | | US$ | US$ | |
+--------------+------------+------------+-------------+--------+-------------------+------------+--------+
| | | | | | | | |
+--------------+------------+------------+-------------+--------+-------------------+------------+--------+
| Mobile phone retail, | | | | | | |
| China | | | | | | |
+---------------------------+------------+-------------+--------+-------------------+------------+--------+
| Funtalk | Common | 90,000,044 | 118,988,000 | 20.38% | 90,000,044 | 97,000,000 | 16.58% |
| China | | | | | | | |
+--------------+------------+------------+-------------+--------+-------------------+------------+--------+
| Holdings | Stock | | | | | | |
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