Impala profits

Press, 25 February 1986, Page 23

Impala profits

NZPA Hong Kong An Australian stockbroking firm, Paul E. Morgan and Company, has become the first to publicly put a profit forecast on Impala Pacific Corporation, the Hong Kong vehicle for Mr Bruce Judge’s Ariadne Group. Morgan said it expected net profits of sAust4M to sAust6M in the 1986-87 year, with that figure doubling the following year, the “South China Morning Post” reported, quoting from a paper, prepared primarily for Australian investor consumption. But Morgan, which shares ultimate parentage with IPC in the expanding Ariadne Australia, Ltd, group, said that for the immediate period to June 30 this year “do not anticipate any significant profits.”

IPC was formed from the shell of Ms Sally Aw’s Sing Tao Group, when she moved most of her assets to Australia last year. It most recently entered into an ambitious SHKI.3B (SNZ3IOM) commercial and hotel development in a consortium with Ms Aw’s Sing Tao, Ltd, which is soon to seek a re-listing on the local market via a new share offer. The United States-based Ramada Hotel chain was also involved in the project, on a prime site in Hong Kong’s Tsim Sha Tsui tourist area.