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Disseminated via PRN on 8 August 2025
8 August 2025
Asia Wealth Group Holdings Limited
("Asia Wealth", the “Group” or the "Company")
AUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025
Chairman’s Statement
The Board is pleased to report the audited results of the Company for the Financial Year from 1 March 2024 to 28 February 2025. The audited accounts will shortly be available on the Company’s website, www.asiawealthgroup.com.
The Company reports a consolidated profit of US$2,004 (2024: Loss US$108,301).
The Company continues to search for new areas of business expansion opportunities in South East Asia and in Europe, where it is has identified and engaged in meaningful discussions. The Company’s main source of income continued to be through Meyer Asset Management Ltd, a wholly owned subsidiary of the Company.
The Board remains focused on further acquisitions and partnerships in Asia and Europe as well as the south-east Asian region. The Board has a cash surplus to seek further acquisitions and is currently in active discussions with businesses in the wealth management and clean energy space.
I would again like to thank the Company’s staff for their hard work throughout the year and shareholders for their support and we look forward to taking advantage of the opportunities which we expect to encounter in the forthcoming year.
The Directors do not recommend the payment of a dividend for the year ended 28 February 2025.
Richard Cayne
Chairman
The Directors of the Company accept responsibility for the content of this announcement.
Contacts:
Richard Cayne (Chairman and CEO)
Asia Wealth Group Holdings Limited, +66 (0) 2611-2561
Corporate Advisers
Peterhouse Capital Limited, +44 (0) 20 7469 0930
| ASIA WEALTH GROUP HOLDINGS LIMITED | ||||||
| Consolidated Statement of Financial Position | ||||||
| At 28 February 2025Expressed in U.S. Dollars__________________________________________________________________________________ | ||||||
| 2025 | 2024 | |||
| Non-current assets | ||||
| Fixed assets | 10,126 | 5,185 | ||
| Investment property | 619,036 | 586,991 | ||
| 629,162 | 592,176 | |||
| Current assets | ||||
| Cash and cash equivalents | 1,077,831 | 1,122,962 | ||
| Trade receivables (net of allowance for doubtful | ||||
| accounts of $8,572 (2024: $8,572)) | 92,121 | 109,609 | ||
| Loans and other receivables | 49,806 | 31,250 | ||
| Due from director | 424,838 | 438,858 | ||
| Prepaid tax | 888 | 844 | ||
| Prepayments and other assets | 83,122 | 70,029 | ||
| 1,728,606 | 1,773,552 | |||
| Total assets | $2,357,768 | $2,365,728 | ||
| Equity | ||||
| Share capital | 913,496 | 913,496 | ||
| Treasury shares | (318,162) | (318,162) | ||
| Consolidation reserve | 391,793 | 391,793 | ||
| Translation reserve | 34,529 | 13,937 | ||
| Retained earnings | 274,780 | 272,776 | ||
| Total equity | 1,296,436 | 1,273,840 | ||
| Current liabilities | ||||
| Trade payables | 1,012,202 | 1,044,686 | ||
| Tax payable | 39 | - | ||
| Other payables and accrued expenses | 49,091 | 47,202 | ||
| Total liabilities | 1,061,332 | 1,091,888 | ||
| Total equity and liabilities | $2,357,768 | $2,365,728 |
| ASIA WEALTH GROUP HOLDINGS LIMITED | ||||||||||||
| Consolidated Statement of Comprehensive Income | ||||||||||||
| At 28 February 2025Expressed in U.S. Dollars__________________________________________________________________________________ | ||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Revenue | |||||||||||||||||
| Commission income | 962,319 | 1,022,085 | |||||||||||||||
| 962,319 | 1,022,085 | ||||||||||||||||
| Expenses | |||||||||||||||||
| Directors’ fees | 302,015 | 301,959 | |||||||||||||||
| Commission expense | 279,726 | 369,114 | |||||||||||||||
| Professional fees | 227,266 | 237,466 | |||||||||||||||
| Travel and entertainment | 57,796 | 54,543 | |||||||||||||||
| Salaries and wages | 43,589 | 42,319 | |||||||||||||||
| Office expenses | 42,259 | 40,520 | |||||||||||||||
| Insurance expense | 29,372 | 25,120 | |||||||||||||||
| Rent | 17,534 | 16,711 | |||||||||||||||
| Marketing | 4,765 | 5,623 | |||||||||||||||
| Depreciation | 1,873 | 1,840 | |||||||||||||||
| Other expenses | 16,103 | 19,681 | |||||||||||||||
| 1,022,298 | 1,114,896 | ||||||||||||||||
| Net loss from operations | (59,979) | (92,811) | |||||||||||||||
| Other income/(expenses) | |||||||||||||||||
| Net foreign exchange gain/(loss) | 27,202 | (40,568) | |||||||||||||||
| Net loss from investments | - | (4,080) | |||||||||||||||
| Other income | 35,278 | 29,475 | |||||||||||||||
| 62,480 | (15,173) | ||||||||||||||||
| Net income/(loss) before taxation | 2,501 | (107,984) | |||||||||||||||
| Taxation | 497 | 317 | |||||||||||||||
| Total comprehensive income/(loss) | $2,004 | $(108,301) | |||||||||||||||
| Total comprehensive income (loss)/attributable to | |||||||||||||||||
| equity holders of the Parent Company | $2,004 | $(108,301) | |||||||||||||||
| Earnings (loss)/per share attributable to the equity holders of the Parent Company: | |||||||||||||||||
| Basic earnings/(loss) per share | $0.00018 | $(0.00975) | |||||||||||||||
| Diluted earnings/(loss) per share | $0.00018 | $(0.00975) | |||||||||||||||
| ASIA WEALTH GROUP HOLDINGS LIMITED | |||||||||||||||||
| Consolidated Statement of Cash Flows | |||||||||||||||||
| At 28 February 2025Expressed in U.S. Dollars__________________________________________________________________________________ | |||||||||||||||||
| 2025 | 2024 | ||
| Operating activities | |||
| Net income (loss) before taxation | 2,501 | (107,984) | |
| Adjustments for: | |||
| Net foreign exchange loss | 40,568 | 205,143 | |
| Depreciation | 1,873 | 1,840 | |
| Interest income | (14,622) | (8,843) | |
| Net loss from investments | - | 4,080 | |
| Net operating income before changes in operating assets and liabilities | 30,320 | 94,236 | |
| Changes in operating assets and liabilities: | |||
| Decrease/(increase) in trade receivables | 17,488 | (16,937) | |
| (Increase)/decrease in loans and other receivables | (16,849) | 26,695 | |
| Increase in prepaid tax | (502) | (489) | |
| Increase in prepayments and other assets | (9,734) | (9,669) | |
| Decrease in trade payables | (32,484) | (94,891) | |
| Decrease/(increase) in other payables and accrued expenses | 1,889 | (4,215) | |
| Net cash flows used in operations | (9,872) | (5,270) | |
| Interest income received | 9,556 | 3,716 | |
| Net cash flows used in operating activities | (316) | (1,554) | |
| Investing activities | |||
| Proceeds from sale of financial assets at fair value through profit or loss | - | 173,657 | |
| Acquisition of fixed assets | (6,814) | (2,390) | |
| Net cash flows (used in)/generated from investing activities | (6,814) | 171,267 | |
| Financing activities | |||
| Net advances from director | 14,020 | 15,216 | |
| Cash flows from financing activities | 14,020 | 15,216 | |
| Net increase in cash and cash equivalents | 6,890 | 184,929 | |
| Effects of exchange rate fluctuations on cash and cash equivalents | (52,021) | (201,565) | |
| Cash and cash equivalents at beginning of year | 1,122,962 | 1,139,598 | |
| Cash and cash equivalents at end of year | $1,077,831 | $1,122,962 | |
| Cash and cash equivalents comprise cash at banks. |
