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ares asia ltd (645) Details

Ares Asia Limited, an investment holding company, engages in the coal trading business. It sells thermal coal purchased from Australia and Indonesia to the People’s Republic of China. The company was formerly known as KTP Holdings Limited and changed its name to Ares Asia Limited in April 2012. Ares Asia Limited was incorporated in 1993 and is headquartered in Kowloon, Hong Kong. Ares Asia Limited is a subsidiary of Reignwood International Holdings Company Limited.

9 Employees
Last Reported Date: 07/28/16
Founded in 1993

ares asia ltd (645) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $352.0K
Compensation as of Fiscal Year 2016.

ares asia ltd (645) Key Developments

Ares Asia Limited Reports Audited Consolidated Cash Flow Results for the Year Ended March 31, 2016

Ares Asia Limited reported audited consolidated cash flow results for the year ended March 31, 2016. For the year, the company reported net cash generated from operating activities of $14,003,000 compared to net cash used in operating activities of $27,021,000 a year ago. Payment for the purchase of property, plant and equipment was $9,000 compared to $58,000 a year ago.

Ares Asia Limited Announces Consolidated Earnings Results for the Year Ended 31 March 2016

Ares Asia Limited announced consolidated earnings results for the year ended 31 March 2016. For the year, revenue from continuing operation was USD 42,638,000 against USD 125,065,000 a year ago. Loss before taxation was USD 13,398,000 against USD 1,489,000 a year ago. Loss from continuing operation was USD 13,370,000 against USD 1,603,000 a year ago. Loss and total comprehensive loss for the year was USD 13,370,000 against profit and total comprehensive income for the period of USD 1,578,000 a year ago. Basic and diluted loss per share from continuing operation was 3.91 cent against 0.47 cent a year ago. Loss per share was 3.91 cents against earnings per share of 0.46 cents a year ago.

Ares Asia Limited, Annual General Meeting, Sep 23, 2016

Ares Asia Limited, Annual General Meeting, Sep 23, 2016, at 14:00 China Standard Time. Location: at Level 96, International Commerce Centre, 1 Austin Road West, Kowloon Hong Kong Agenda: To receive, consider and adopt the audited consolidated financial statements of the company and its subsidiaries and the reports of the directors and of the independent auditor for the year ended 31 March 2016; to re-elect directors and to authorize the board of directors of the company to fix the directors' remuneration; to re-appoint KPMG as independent auditor of the company and to authorized the board of directors to fix their remuneration; to approve a general mandate to the directors to repurchase shares not exceeding 10% of the issued share capital of the company; to approve a general mandate to the directors to issue, allot and deal with additional shares not exceeding 20% of the issued share capital of the company; and to extend the general mandate granted to the directors to issue shares of the company by adding the number of shares repurchased.


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