Prima Ekuiti (UK) Limited is a wholly-owned subsidiary of KWAP. From an initial investment of 2 ordinary shares of £1.00 per share at the start of 2012, the total ordinary shares held by KWAP in Prima Ekuiti (UK) Limited stood at 50,000 of £1.00 a share as at end 2018.
Correspondingly, the asset-under-management of Prima Ekuiti (UK) Limited has also expanded modestly since its inception, growing five-fold from £100 million to more than £500 million in 2018. For the year ended 2018, Prima Ekuiti (UK) Limited recorded a turnover of approximately £2.1 million. Operating expenses also increased in 2018 due to the expansion of Prima Ekuiti team. Resultantly, profit after taxation amounted to £406,886 for financial year 2018.
Meanwhile, its balance sheet has strengthened with shareholders’ funds increasing from £2.6 million in 2017 to £2.8 million as at 31 December 2018. Of the total, 98% came from retained earnings while called up share capital made up 2%. Looking ahead, it is targeting a high single digit organic growth in assets under management and prudent cash-cost management to ensure sustainability of the company.
In 2018, Prima Ekuiti (UK) Limited had successfully distributed a total of £200,000 in dividends to its shareholders. Since the introduction of the dividend policy in 2015, Prima Ekuiti has distributed 16 times of its share capital in the form of dividends to its shareholders. The establishment plans to make a clear commitment to pay dividends amounting to two times its share capital annually.
Summary of Financials:
Return on Shareholders' Funds (%)
Corporate Earnings Per Share (£)
In addition to the investment and financial accomplishments, Prima Ekuiti also strives to uphold its other tenets, particularly with regards to talent management and development. Prima Ekuiti continues to provide an effective platform for training and development of talent that is synergistic for our client and shareholder as well as for management and the team at Prima Ekuiti. In 2018, the establishment was involved in an attachment programme whereby analyst from the parent company, KWAP, spent two weeks in the office to garner more understanding of the European markets, gaining on-the-ground insights.
For the year of 2018, Prima Ekuiti undertook 5 Malaysian students via our internship programme from various universities in the UK. Feedback from the interns of 2018 remained positive giving them first hand exposure to the asset management industry. Moreover, Prima Ekuiti continues to garner interest on investments among students through our annual Investment Challenge. For more information, please visit our Investment Challenge page.
The foundations of further expansions and successes are well-placed for Prima Ekuiti to embark on future initiatives. Prima Ekuiti shall continuously strive to be the knowledge and talent centre for our shareholders, with a high commitment to grow the establishment and achieve respectable investment results. These objectives are pertinent to build and strengthen KWAP’s trust and augment Prima Ekuiti’s position as its prime European investment partner.