Catalist-listed Uni-Asia Group CHJ has reported US$3.3 million ($4.45 million) in net cash inflows in 9M2024 ended Sept 30, compared to US$19.2 million in net cash outflows this time last year.

 

In a Nov 22 business update, the property and shipping firm says net operating cash inflows was US$16.8 million in 9M2024, boosted by ship charter income and its Japan property business. This is more than double the US$9.8 million recorded from this segment this time last year. 

 

Investing activities, meanwhile, was US$2.9 million in 9M2024, mainly from proceeds from ship disposed early 2024 offset by investments into new properties in Japan. This is up from US$7.5 million in net cash outflows this time last year. 

 

Financing activities was the biggest hit, with US$16.4 million of net cash outflows, compared to US$19.9 million in net cash outflows from this segment this time last year. The company attributes thai net payment of borrowings and interests as well as FY2023 final dividend and FY2024 interim dividend paid.

 

Cash and cash equivalents as at Sept 30 was US$41.6 million, up from US$28 million this time last year. 

 

Borrowings were 41.1% of book value of total assets collateralised as at Sept 30. 

A CONSORTIUM group led by Uni-Asia Group : CHJ 0%&rsquo s wholly-owned subsidiary Uni-Asia Capital (Japan) has won a tender to develop and operate a private finance initiative project in Japan with its bid of 13.1 billion yen (S$118 million).

 

The public work facilities development project, called for by the government of Kuki City, Saitama Prefecture, involves building a public use facility which uses residual heat from an existing waste treatment plant in the city, the group said in a Friday (Dec 1) bourse filing.

 

The facility will include a fitness centre, public park, pool and bathhouse. Development is expected to take place in 2027. Following its completion, the consortium will operate the facility for 20 years.

 

The new development marks Uni-Asia Group&rsquo s second private finance initiative project. Its first, which was in Saitama Prefecture&rsquo s Wako City, was completed in December 2021.

 

&ldquo This project is in line with the group&rsquo s commitment to good corporate citizenship and sustainable business practices, and its belief in creating shared value and improving the impact of its businesses on society,&rdquo it said.

 

&ldquo The utilisation of residual heat from the waste treatment plant to heat up the public pool and public bathhouse would be beneficial to the climate by reducing reliance on fossil fuel for heating.&rdquo

 

As its asset manager, Uni-Asia Capital (Japan) will earn recurrent fees once the facility completed. The project is not expected to have any material impact on the company&rsquo s net tangible assets per share, earnings per share and operating results in the current financial year.

Between Jun 30 and Jul 6, Uni-Asia Group : CHJ +0.55% executive director Masahiro Iwabuchi acquired 28,000 shares at S$0.91 per share. With a consideration of S$25,480 this increased Iwabuchi&rsquo s direct interest in the company from 0.76 per cent to 0.80 per cent.

Between Jun 26 and 27, Uni-Asia Group : CHJ -0.55% executive director Masahiro Iwabuchi acquired 67,700 shares at S$0.91 per share.

 

With a consideration of S$61,607, this increased his direct interest in the company from 0.67 per cent to 0.76 per cent.

 

Uni-Asia Group produces and offer alternative investment opportunities for assets such as vessels and properties to its clients.

 

Iwabuchi joined the group when it was established in 1997 and was appointed senior managing director in April 2014.

 

He heads the property investment department, overseeing all property investments of the group.

 

Prior to joining the compamy, Iwabuchi spent more than 13 years with The Hokkaido Takushoku Bank, and accumulated extensive experience in the banking industry across Asia including Japan, Indonesia, Singapore, Hong Kong, and China.

 

Uni-Asia has reported record earnings for FY2022, buoyed by higher charter rates and other related fee income.

 

For the year ended Dec 2022, earnings increased by 53% to US$27.8 million. Revenue in the same period was up 24% to US$86.1 million.

 

Uni-Asia plans to pay a dividend of 8 cents, bringing total payout for FY2022 to 14.5 cents.

 

" FY2022 has been a stellar year for the group, as we benefitted from a robust bulk carrier market," says CEO Kenji Fukuyado.

 

" The positive performance has strengthened our financial position and fundamentals, providing the group with reserves to capture new growth opportunities and allowing us to reward our loyal investors with the highest dividend in the group&rsquo s history," he adds.

 

Uni-Asia acknowleges that with the pandemic easing the shipping market has eased in tandem, especially in 2HFY2022. However, China' s reopening might lend support to an improvement in the bulk carrier market this year.

 

Besides shipping, Uni-Asia' s other key business is in real estate. It owns stakes in a string of Hong Kong commercial development projects, as well as a portfolio of boutique projects estates in Japan.

 

Uni-Asia says that while Hong Kong&rsquo s property market has been affected by the COVID-19 pandemic, the city remains a major financial hub in Asia and is home to a large number of multinational corporations.

 

Uni-Asia also notes that the Tokyo property market has been " robust" , driven by a combination of factors including a strong economy and low interest rates.