All Asia Asset Capital : Interim Results 2016

Press Release 16 September 2016 All Asia Asset Capital Limited (All Asia Asset Capital", "AAA" or the "Company") Unaudited Interim Results for the period ended 30 June 2016

All Asia Asset Capital (AIM: AAA), an investing company focused on the growing markets of the Asia Pacific region, today announces its unaudited interim results for the six months ended 30 June 2016.

Highlights:

• During six months ended 30 June 2016, the Company maintained its two investments which are minority stakes in Andaman Power and Utility Company Limited ("APU"), a company based in Thailand and Myanmar which operates in the development of utility plants and the provision of electricity, and Myanmar Allure Group Co., Ltd. ("MAG"), which owns and operates the Allure Resort, a combined hotel, resort and gaming facilities located in Tachileik province, Myanmar, in the vicinity of the Thailand- Myanmar Mae Sai border.

• During the 6 months ended 30 June 2016 the Company made a profit of £0.46 million. This profit was due to a £0.57 million revaluation of the investments as a result of the devaluation of the GBP following the BREXIT vote in the UK to leave the EU.

• In September 2016 the board appointed Mr. Paniti Junhasavasdikul as Chief Executive Officer and a director of the Company. He has 20 years of legal, interim management and private equity experience having worked as a lawyer in various transactions and investments ranging from start-ups, M&A, special situation investments, debt trades, turnarounds, disputes and corporate governance.

Robert Berkeley, Chairman of AAA said: "During these 6 months in review, the Company remained committed to its two investments in Andaman Power and Utility Company Limited which operates in the development of utility plants and the provision of electricity in Myanmar, and Myanmar Allure Group Co., Ltd., which owns and operates the Allure Resort, a combined hotel, resort and gaming facilities located in Myanmar. We are also delighted at the recent appointment of Mr. Paniti Junhasavasdikul as Chief Executive Officer and believe that with his expertise and experience, the Company will move ahead in a positive direction and continue seeking other investment opportunities in the region in order to deliver and enhance values to its shareholders."

-Ends-

For further information:

All Asia Asset Capital Limited

Robert Berkeley, Executive Chairman and Finance Director

Wai Tak Jonathan Chu, Executive Director

Tel: [phone]

Tel: [phone]

www.aaacap.com

Allenby Capital Limited (Nomad & Broker)

Nick Athanas / Nick Naylor

Tel: [phone]

www.allenbycapital.com

About AAA

AAA is an investment company that has been established as a platform for investors looking to access growing markets in the Asia-Pacific region. The Company invests in a portfolio of companies with at least a majority of operations (or early-stage companies that intend to have at least a majority of their operations) in the Asia-Pacific region in industries with high growth potential including, but not limited to: agriculture, forestry and plantations, mining, natural resources, property, and/or technology. AAA is publicly quoted and its shares are traded on the AIM Market, which is operated by the London Stock Exchange.

Chairman's Statement

I am pleased to present the results of All Asia Asset Capital Limited (the "Company") together with its subsidiaries (the "Group") for the half year ending 30 June 2016.

Business Review

During the year ended 30 June 2016 the Company continued its focus on Myanmar. The Company maintained its minority investment of 7 per cent. interest in APU and 7 per cent. interest in MAG.

As previously noted the Company's 7 per cent stake in APU has gained increased visibility as APU is now majority owned by United Power of Asia Public Company Limited, a public listed company in Thailand. APU is moving forward to further developments of 200 Megawatt plants in the region and is currently seeking financing for the project development. The Company is actively seeking for opportunities to realise its investment in APU but at this stage no discussions are at an advanced stage.

During the year MAG continued operating the Allure Resort, a combined hotel, resort and gaming facilities located in Tachileik province, Myanmar, in the vicinity of the Thailand-Myanmar Mae Sai border. The resort is situated in an 11- acre plot and is easily accessible from Chiang Rai, Thailand and located within 5 minutes walk from the border. MAG intends to expand its business including the development of a new building and partnerships with other gaming operators in order to fulfill increasing demand in this sector.

Financial Results

During the 6 months ended 30 June 2016 the Company made a net profit of £0.46 million (12 months ended 31 December 2015: net loss of £0.3 million) . This profit is after taking account of a £0.57 million revaluation of the investments as a result of the devaluation of the GBP following the BREXIT vote in the UK to leave the EU.

The majority of the assets of the Group consists of its two investments in APU and MAG which, as at 30 June 2016, had a carrying value of £6.07 million in AAA's balance sheet. AAA's investments in APU and MAG have been attributed fair values of £4.338 million and £1.730 million respectively as at 30 June 2016. As at 30 June 2016 the net assets of the Group were £6.14 million (31 December 2015: net assets of £5.68 million) and the Group had cash and cash equivalents of £0.06 million (31 December 2015: cash and cash equivalents of £0.19 million). Further details on the methodology for valuing the investments is contained in note 7 to the interim financial statements.

Board Changes

I am pleased to announce the appointment of Mr. Paniti Junhasavasdikul as Chief Executive Officer and a director of the Company as of the 9 September 2016.

Mr. Junhasavasdikul has 20 years of legal, interim management and private equity experience. He has worked as a lawyer in various transactions and investments ranging from start-ups, M&A, special situation investments, debt trades, turnarounds, disputes and corporate governance. He was a co-founder of FBLP Legal Co., Ltd where he was a partner from 2000 to 2007 before the practice was merged with DFDL International Law Offices where he was an equity partner between 2007 to 2010, based in the CLMV (Cambodia, Laos, Myanmar and Vietnam) countries. Paniti subsequently became a general partner and a director in a Cayman Islands private equity fund with an investment focus on Thailand where he was responsible for investment structuring and transactions, legal due diligence and

formation of funds. Paniti has also been the sole acting attorney for an international private equity fund for over 10 years and sits on the board of certain of their portfolio companies, including Svenson Hair Center (Thailand) Limited and MarieFrance Bodyline International (Thailand) Limited. Paniti was also previously an independent director of Christiani & Nielsen (Thai) Public Company Limited, a company quoted on the Thailand Stock Exchange.

Paniti was a member of the International Advisory Council of International and Executive Legal Education (IELE), Berkeley Law, University of California between 2009 and 2014. He graduated with an LLB from Chulalongkorn University, Faculty of Law in 1992 and received an LLM from University of California, Berkeley in 1995. He is a member of the Thai Bar Association and the Law Society of Thailand.

I am confident that his experience will allow us to drive the company forward in a positive direction into 2017 and beyond.

Economic Outlook

The World bank in a recent report commented that the historic elections of November 2015 created a general sense of economic optimism and private investors have remained upbeat. However, ongoing structural constraints, short- term exchange rate pressures, rising inflation, and the political transition have contributed to a deceleration in new investment flows, however real GDP growth in Myanmar is still projected to be 7.8% in 2016-2017, and an average of 8.2% per year over the medium-term. The focus on electrifying the entire country is still seen as creating significant opportunities for industry players in this sector. The Board of AAA hopes that investment in APU will play a key part in that.

As highlighted in my previous statement the hospitality industry in Myanmar is experiencing significant growth with the number of foreign visitors increasing to 4.7 million in 2015, up from just 800,000 in 2011 (Source : The Irrawaddy Report, May 2016). The Myanmar National Tourism Master Plan envisages the number of foreign visitors to increase to 7.5 million by 2020, supported by the Country's US$500 million funding in this industry on training tourism workers, developing destinations and improving connectivity.

Appreciation

I would like to thank all the hard work of my fellow Board members and staff, our advisers and of course our shareholders for their continuing support for AAA. I sincerely hope that the Company will continue to enjoy such support towards the development of the Group in the years to come