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8I HOLDINGS LTD — Capital/Financing Update 2018
Oct 11, 2018
64264_rns_2018-10-11_ddfeb8fd-5af3-4a2f-8a38-18834072cad5.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT / MEDIA RELEASE
For Immediate Release
8I Holdings Ltd (ASX: 8IH)
Financial Update
12 October 2018, Singapore
8I Holdings Ltd (ASX: 8IH ) (“ 8IH ” or the “ Company ”) advises that while it is still in the process of preparing its interim financial accounts subject to the auditors’ review, it has identified that a net loss for HY2019 is expected to be in the range of S$6M to S$7M (net profit HY2018: S$3.2M) on expected revenue of approximately S$10M to S$11M.
The expected loss is mainly attributable to the reduction in the valuation of the Company’s mark-to-market investments in quoted securities. This resulted in an unrealised fair value loss on investment securities of approximately S$8M to S$9M due to market correction.
The Company is expected to release its audited interim financial statements in due course in accordance with the Listing Rules.
Mr. Ken Chee, Executive Chairman of 8I commented, “Over the past year, the Company has embarked on a transformation program with the intention to disrupt and refine its business model for long-term growth and scalability. While we await positive results to come to fruition, the Board and Management continue to focus on building an ecosystem for 8IH that relies on culture, team work, processes and technology.
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For further information, please contact [email protected]
Media Enquiries:
Louis Chua Goh Yi Lin Company Secretary (Australia) Investor Relations 8I Holdings Ltd 8I Holdings Ltd +65 6801 4500 ext. 114 +65 6801 4502 [email protected] [email protected]
About 8I Holdings Limited
8I Holdings Limited (“the Group”) is an Australian-listed investment holding company engaged in the businesses of financial education, public and private market investments, and financial technology.
The Group is the leading financial education provider in Singapore and Malaysia through 8VIC Holdings Ltd (“8VIC”) and 8IH China Pte Ltd (“8IHC), with offices in Singapore, Malaysia, Thailand, Taiwan and Shanghai, supporting a community of value-investors from 24 cities globally. Through Hidden Champions Capital Management Pte Ltd (“HCCM”), the Group operates a licensed fund management business in Singapore, investing in public listed equities in the Asia-Pacific through a focused strategy of investing in valueadding, nimble and scalable growing Hidden Champions that are typically at the forefront of their markets to achieve long-term investment returns. The Group also invests in private businesses with hidden value and good operational track record. As a strategic investor, the goal is to value-add and create synergy amongst 8IH ’s business ecosystem. 8Bit Global Pte Ltd (“8Bit”), a joint-venture between the Group and 8VIC, provides smart screening and proprietary investing analysis tools and passive investment products to enable the man-on-the-street investor.