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Deal flow in the 1st half of 2017 slowed down relative to last year, with Q2 deal flow coming in weaker than Q1. The deals evaluated did not meet our investment criteria and hence no new investments were made during the period.
We continue to explore avenues to exit two investments, and hope to conclude the process over the next couple of quarters.
For the 6 months ended September 2017, Guardian Capital Partners PLC (GCP) recorded a loss of Rs.29.9 mn and a total comprehensive expense of Rs. 24.6 mn. The loss recorded was primarily due to an impairment of Rs. 42.1 mn made against the investment in Swiss Institute for Service Industry Development (Pvt) Ltd, as reported in Q1, due to an alleged misappropriation of funds in the said investee company.
Administration costs increased due to costs incurred with respect to legal proceeding and other settlements with respect to Swiss Institute.
We continue to explore avenues to exit two investments, and hope to conclude the process over the next couple of quarters.
For the 6 months ended September 2017, Guardian Capital Partners PLC (GCP) recorded a loss of Rs.29.9 mn and a total comprehensive expense of Rs. 24.6 mn. The loss recorded was primarily due to an impairment of Rs. 42.1 mn made against the investment in Swiss Institute for Service Industry Development (Pvt) Ltd, as reported in Q1, due to an alleged misappropriation of funds in the said investee company.
Administration costs increased due to costs incurred with respect to legal proceeding and other settlements with respect to Swiss Institute.
