Closed-end China investment fund, Guangdong Fund (Hong Kong) (GDF), has reported an increase in profit attributable to shareholders in 1996 of 25 per cent to US$6.36 million.
Total income into the fund grew 46 per cent to $11.3 million during the period under review.
Earnings per share increased to 6.57 cents from 5.23 cents in 1995, while the fund's net asset value increased one cent to 97 cents. The company recommended a final dividend of six cents.
From 1 January 1996 to March this year, GDF invested $18 million in three new projects and made added investments of $4.4 million in two existing projects.
By the end of March, GDF had invested in 15 projects to the value of $78 million, which represented about 84 per cent of the original net fund raised.
Chairman He Keqin said GDF had substantially achieved its objective of full investment, taking into account an appropriate level of liquidity and identifying new investment prospects.