Strategic Cap. ‘top performer’

Press, 31 January 1989, Page 23

Strategic Cap. ‘top performer’

The Merchant banker, Strategic Capital, was top performer on the New Zealand sharemarket last year, according to the sharebroker, Jarden Morgan.

Strategic Capital was earlier called Egnal, before that Nova Corporation, and earlier still, Intertasman N.Z. At the end of 1987 it was in financial trouble, unable to meet a creditor’s demand. It went into receivership, but emerged last June as a shell company with new owners and went into staff training and merchant banking on the Australian market.

However, Strategic Capital has just announced a $40,000 loss for the six months ended September 30.

Strategic’s share price fell from 120 c at the beginning of 1988 to 5c at the end of the year. The Jarden review measured the percentage change in share prices, adjusted to include dividends, bonus issues and the bonus element of cash issues.

In a year when the Barclays industrial index peeled off 5.6 per cent, Strategic shareholders had a gross return of 399 per cent, Jarden’s sharemarket review for the calendar year, 1988, shows.

Strategic Capital was at 1c early in the year after falling from 140 c and

ended the year at sc. However, volume traded was very small, and though it theoretically offered high profit from its bottom price, no "killings” were made. The tiny Ashburton company, Canterbury Roller Flour Mills, was eighth, despite a slight fall in profit on the previous year and the share price falling from 350 c to 140 c during 1988. What propelled it along was a seven-for-two bonus issue giving the shareholders an 80 per cent lift in the market value of their equity.

Gross Return Rank Company (%) 1 Strategic Capital . . . . 399.9 2 Southern Petroleum . . 200.0 3 N.Z. Refining Company 141.6 4 McKechnle Pacific. . . 130.0 5 United Resources. . . . 127.4 6 Countrywide . 118.4 7 N.Z. Oil and Gas . . . . 102.7 8 Canterbury Roller Flour 92.9 9 Sound-Waves Corp . . . . 79.9 10 Revertex Ind (NZ). . . . 75.6 11 Aden Corp . . 75.1 12 Regal Salmon . . 71.5 13 Fernz Corp . . 68.4 14 Reid Farmers . . 68.1 15 Cavalier Corp . . 67.8 16 Rank Group . . 66.7 17 Assoc. British Cables. . . 58.9 18 Donaghys . . 58.7 19 Kale Capital Corp . . . . 50.0 20 Mair Astley . . 49.5 21 Cerebos Gregg’s. . . . . . 48.3 22 Coronet Far East. . . . . 47.1 23 1CI New Zealand . . . . . 45.8 24 Sigma Resources . . . . . 44.6 25 U-Blx Copiers (N.Z.). . . 43.4

26 Theseus investments. . . 40.9 27 Owens Group 40.1 28 Milburn N.Z 38.1 29 Michael Hill Int 34.4 30 Newmans Group 34.1 31 Dunbar Sloane 33.3 32 Max Resources 30.0 33 Prudential Build. Soc . . 28.9 34 Mainzeal Properties . . . 25.6 35 Chase Corporation . . . . 24.4 36'Feltrax International. . . 24.0 37 Carter Holt Harvey. . . . 23.9 38 City Realties 23.7 39 Corporate Investments. . 23.6 40 N.Z. Ski Fields 22.2 41 BNZ Finance 20.7 42 Allflex Holdings 20.2 43 Steel Tube Holdings . . . 20.1 44 Fortuna Corp 19.0 45 Damba Holdings 18.4 46 Magnum Corp 17.2 47 Waste Management. . . . 17.0 48 Triple M 16.7 49 National Pacific Corp . . 16.1 50 Omnicorp 16.0 51 Wilson Horton 14.6 52 Elders Resources NZFP. 14.1 53 Capital Markets 11.5 54 Fletcher Challenge. . . . 11.4 55 deRedcliffe Group . . . . 11.1 Nuhaka Farm Forestry . 11.1 57 Ernest Adams 10.7 58 Cardrona Ski Area . . . . 10.1 59 Wormaid Int. (N.Z.) . . . .9.9 60 Bank of New Zealand. . .8.9 61 Goodman Fielder Wattle .8.6 62 Firestone N.Z .7.9 63 Independent News . . . . . .4.6 64 Homer Greenlees . .3.7 65 Bancorp . .3.4 66 Baycorp . . 1.1 67 Anzon Investments . . . . . .0.0 Apple Fields . .0.0 Heritage Mining . .0.0 Pacific Sun Hotels . . . . . .0.0 71 Robt. Jones Investments -1.3 72 Commodore Computer. . -3.3 73 Lane Walker Rudkin. . . -5.2 74 Wilson Neill . -5.4 XS Corporation . -5.4 76 Jarden Morgan . -5.5 77 Fisher and Paykel . . . . -6.3 78 Lasercorp Holdings. . . . -6.6 79 Agland Holdings . -6.7 80 Salmond Smith Blolab. . -7.0 81 Bridgecorp Holdings . . . -7.5 82 Platinum Group Metals . -7.7 83 Transmark Corp .... . -8.5 84 N.Z. Light Leathers . . . -9.4 85 Brierley Investments. . . -9.5 86 Foveaux Radio -10.0 87 Amur! Corp -11.5 88 Lion Nathan -12.0 89 Sanford -12.1 90 Mount Cook Group. . . -12.2 91 Somex Corp -13.0 92 Holdcorp -13.6 93 TAG Corp -14.0 94 Kingsgate Int. Corp. . . -15.6 95 London Pacific -18.2 96 Restech Int -19.9 97 Enzed Technology U.S.A. -20.0 98 Colonial Motor Company -21.3 99 Cue Energy Resources -22.2 Kiwi Oil -22.2 101 Carr Business Services -22.3 102 Akron Corp Ltd -25.0 Arahi Properties .... -25.0 AW N.Z. Investments . -25.0 Coronet Equities N.Z. . -25.0 Strathmore Group . . . -25.0 107 Madison Corporation. . -25.0 108 Spectrum Resources . . -26.9 109 Mineral Resources . . . -26.6 110 Ciearwood Thor. Stud . -27.3 Ill Ahead Group -28.0 112 PDL Holdings . . -28.2 113 Helicopter Line -28.5 Perry Dines Corp. . . . -28.5 115 Opio Forestry Fund . . -28.6 116 EBOS Group -29.4 117 Bowen Corp -29.9 118 John Edmond -31.0 119 Ararimu Holdings. . . . -31.4 120 Euro-Natlonal Corp. . . -31.7 121 Cruise Corp -33.3 122 Broadway Ind -34.1 123 TranzEqulty Holdings . -34.3 124 Caprana Corp -34.7 125 Radio Otago -35.0 126 First City Corp -35.1 127 Glrvan Corp -35.7 128 Allegra Corp -35.8 129 Prorada Properties. . . -36.8 130 Finance and Resources -36.9

131 Scenic Circle Corp . . . 132 Normedia Corp -37.5 -37.9 133 Hawkes Bay Transport -38.2 134 Renout Properties . . . -38.6 135 Ceres Pacific -39.1 136 Grocorp Pacific -40.0 137 Arthur Barnett '..... -40.2 138 Kearns Corp -40.7 139 Kenwood Stud -41.6 Venturecorp Investments -41.6 141 Hallenstein Glasson. . . -41.7 142 Apparel Holdings .... -41.8 143 Woodstock Investments -42.1 144 Ascot Mgt Corp -42.8 145 New Zealand Equities. -42.9 146 L and M Mining .... -43.2 147 Blandford Lodge . . . . -44.4 148 Panz Corporation.... -44.5 149 Motor Holdings -44.8 15(1 Baillie Farmers Motors -45.7 151 Agricola Resources. . . -45.8 152 Smiths City Group . . . -46.9 153 Taylors Group -47.7 154 Tulwest Corp -48.6 ’155 Genestock N.Z -49.7 156 Areco Corp -49.9 Investment Finance Cori -49.9 Radio Pacific -49.9 159 Arthur Barnett Prop. . -50.0 Compass Duty Free . . -50.0 Eastern Equities Corp. -50.0 Maxwell Marine Corp . -50.0 N.Z. Salmon Company. -50.0 Striker Group -50.0 165 Leisureland Corp .... -50.9 166 Woodcorp Holdings. . . -51.2 167 Pacer Kerridge -51.4 168 Wellesley Resources . . -51.8 169 Renouf Corp -52.4 170 Mainzeal Group -53.8 171 Kiwi Gold Mining . . . -53.9 172 Ceramco Corp -55.0 173 Harcourt Corp -56.3 174 Hamelyn UPC -57.1 175 N.Z. Petroleum -58.8 176 Stevens KMS Corp . . . -60.0 177 Mutual Pacific Corp . . -60.1 178 Lectrica Holdings. . . . -61.0 179 Gold Resources -61.5 180 R. W. Saunders -61.3 181 Stars Corp -62.5 182 Excell Corp -64.0 Kupe Group -64.0 184 Mayfair Corp -64.7 185 Laurensons Bakery. . . -65.2 186 Carborundum Abrasives -65.8 187 Equiticorp International -67.4 188 Venture Pacific -67.5 189 PrimAcq Holdings . . . -68.0 190 Summit Gold -68.8 191 Commercial Securities. -68.9 192 NZI Corporation -69.1 193 General Properties. . . -69.2 194 Terrace Project -69.5 195 N.Z. Goldfields -71.4 196 Argus Questar Corp . . -71.7 197 Richmond Smart Corp. -72.0 198 OHL Corporation .... -72.5 199 Landmark Corp -72.9 200 Wilkins Davies -76.1 201 James Smith -76.5 202 Paynter Corp -76.9 203 Waitaki Int -79.1 204 Advantage Corp -80.0 Triumph Industries. . . -80.0 Waikato Stud -80.0 207 Australis Int -80.8 208 Angus Group -82.5 209 Environ Corp -83.3 Kiwi Bear Company . . -83.3 Leverage Invest Corp . -83.3 212 Fullers Corp -84.0 213 Crowe Corp -85.7 214JJakeland Properties . . Ind -87.5 -87.5 216 Technicorp Investments -88.0 217 Leyland Investments. . -89.2 218 Bexley Corp -89.3 219 Cashcorp Holdings . . . -90.0 Prime-West Corp .... -90.0 Prodigal Gold -90.0 222 Troy Corp -90.5 223 Chambard Property . . -91.7 224 Merchant Capital .... -92.0 225 Pan Austral Corp. . . . -92.5 226 Como Holdings -92.8 227 Premier Mining Sec . . -93.3 228 Goldcorp Holdings . . . -95.5 229 Transpac Holdings . . . -96.6 230 Mainstay Properties . . -97.5 Mirage Entertainment. -97.5 232 Otago Press and Produce -97.6 233 Kaurex Corp -97.8 234 Cory-Wright Salmon . . -98.8