Announcement • Mar 26
Asia Capital PLC (COSE:ACAP.N0000) entered into a Share Sale and Purchase Agreement to acquire 22.13% stake in Wadduwa Resorts (Private) Limited for LKR 75 million. Asia Capital PLC (COSE:ACAP.N0000) entered into a Share Sale and Purchase Agreement to acquire 22.13% stake in Wadduwa Resorts (Private) Limited for LKR 75 million on March 24, 2026. A cash consideration of LKR 75 million will be paid by Asia Capital PLC. As part of consideration, LKR 75 million is paid towards common equity of Wadduwa Resorts (Private) Limited. Upon completion, the Company together with its subsidiary, Asia Leisure Holdings (Private) Limited, will hold all 100% of the shares of Wadduwa Resorts (Private) Limited.
The transaction is due to be completed in September 2026. Reported Earnings • Nov 19
Second quarter 2026 earnings released: LK₨0.26 loss per share (vs LK₨1.58 loss in 2Q 2025) Second quarter 2026 results: LK₨0.26 loss per share (improved from LK₨1.58 loss in 2Q 2025). Net loss: LK₨29.5m (loss narrowed 86% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Sep 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Robert Bradley Emerson was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 09
Asia Capital PLC, Annual General Meeting, Sep 30, 2025 Asia Capital PLC, Annual General Meeting, Sep 30, 2025, at 09:00 Sri Lanka Standard Time. Reported Earnings • Aug 22
First quarter 2026 earnings released: LK₨1.03 loss per share (vs LK₨0.88 loss in 1Q 2025) First quarter 2026 results: LK₨1.03 loss per share (further deteriorated from LK₨0.88 loss in 1Q 2025). Net loss: LK₨135.4m (loss widened 18% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
Full year 2025 earnings released: LK₨1.74 loss per share (vs LK₨3.47 loss in FY 2024) Full year 2025 results: LK₨1.74 loss per share (improved from LK₨3.47 loss in FY 2024). Net loss: LK₨227.9m (loss narrowed 50% from FY 2024). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-LK₨827m). Revenue is less than US$1m (LK₨85m revenue, or US$288k). Market cap is less than US$10m (LK₨551.6m market cap, or US$1.86m). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Feb 15
Third quarter 2025 earnings released: LK₨0.84 loss per share (vs LK₨1.43 loss in 3Q 2024) Third quarter 2025 results: LK₨0.84 loss per share (improved from LK₨1.43 loss in 3Q 2024). Net loss: LK₨109.8m (loss narrowed 42% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Second quarter 2025 earnings released: LK₨1.58 loss per share (vs LK₨1.10 loss in 2Q 2024) Second quarter 2025 results: LK₨1.58 loss per share (further deteriorated from LK₨1.10 loss in 2Q 2024). Net loss: LK₨207.6m (loss widened 44% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Nov 07
Asia Capital PLC, Annual General Meeting, Nov 29, 2024 Asia Capital PLC, Annual General Meeting, Nov 29, 2024, at 08:30 Sri Lanka Standard Time. Reported Earnings • Aug 16
First quarter 2025 earnings released: LK₨0.88 loss per share (vs LK₨0.56 profit in 1Q 2024) First quarter 2025 results: LK₨0.88 loss per share (down from LK₨0.56 profit in 1Q 2024). Net loss: LK₨115.1m (down 257% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 04
Full year 2024 earnings released: LK₨1.82 loss per share (vs LK₨5.14 loss in FY 2023) Full year 2024 results: LK₨1.82 loss per share (improved from LK₨5.14 loss in FY 2023). Net loss: LK₨239.1m (loss narrowed 65% from FY 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 16
Third quarter 2024 earnings released: LK₨1.43 loss per share (vs LK₨0.73 loss in 3Q 2023) Third quarter 2024 results: LK₨1.43 loss per share (further deteriorated from LK₨0.73 loss in 3Q 2023). Net loss: LK₨188.1m (loss widened 97% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Jan 20
Asia Capital PLC Appoints Raju Radha as Managing Director Asia Capital PLC appointed Raju Radha as Managing Director. The appointment given was while he served as an independent Non-Executive Director of the company thus moving to a role of an Executive Director. Presently, he is the Managing Director of SAR Shipping Ltd., SAR Maritime Ltd., SAR Trading Ltd., and the Chief Operating Officer of Greenlanka Property Developer Ltd. He is also the founder of Radaan Media Works India Ltd, of which Radha was the founder director r of Radaan Talent Factory a joint venture with Capital Maharaja, as well. Radha holds a B.Sc. Business Management Degree from the University of London. His extensive knowledge in several business areas which include shipping, logistics, media, property development and trading. This has enabled him to be the Managing Director of Sea Services Ltd., (the first Sri Lankan ship-owning feeding company), a Director of Greenlanka Shipping Ltd., and the Chairman of Vauxhall Shipping Ltd., (JV of Aitken Spence PLC) as well. Malaysia's Vijayeswaran S Vijayaratnam controls over 80% stake in Asia Capital. New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.7% average weekly change). Negative equity (-LK₨166m). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (LK₨79m revenue, or US$240k). Market cap is less than US$10m (LK₨472.8m market cap, or US$1.44m). Announcement • Sep 09
Asia Capital PLC, Annual General Meeting, Sep 27, 2023 Asia Capital PLC, Annual General Meeting, Sep 27, 2023, at 10:00 Sri Lanka Standard Time. Location: 6th Floor, No 46/46, Green Lanka Towers, Nawam Mawatha Colombo Sri Lanka Agenda: To receive and consider the Report of the Directors on the State of Affairs of the Company and the Statement of Audited Accounts for the year ended 31st March 2023 and the report of the auditors thereon; to re-elect Mr. S. S. Balasubramaniam who retires by rotation in accordance with Article 98 of the Articles of Association of the Company and being eligible, offers himself for re-election in terms of Article 99 of the Articles of Association; and to re-appoint Messrs. BDO Partners Chartered Accountants as the Auditors to the Company for the ensuing year and to authorize the Directors to determine their remuneration. New Risk • Aug 17
New major risk - Negative shareholders equity The company has negative equity. Total equity: -LK₨21m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Negative equity (-LK₨21m). Revenue is less than US$1m (LK₨194m revenue, or US$603k). Market cap is less than US$10m (LK₨538.5m market cap, or US$1.67m). Reported Earnings • Aug 17
First quarter 2024 earnings released: EPS: LK₨0.56 (vs LK₨4.34 loss in 1Q 2023) First quarter 2024 results: EPS: LK₨0.56 (up from LK₨4.34 loss in 1Q 2023). Net income: LK₨73.4m (up LK₨642.9m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 14% per year. Reported Earnings • Jun 02
Full year 2023 earnings released: LK₨4.46 loss per share (vs LK₨6.66 loss in FY 2022) Full year 2023 results: LK₨4.46 loss per share (improved from LK₨6.66 loss in FY 2022). Revenue: LK₨237.7m (up 64% from FY 2022). Net loss: LK₨585.5m (loss narrowed 33% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 10
Third quarter 2023 earnings released: LK₨0.73 loss per share (vs LK₨0.87 loss in 3Q 2022) Third quarter 2023 results: LK₨0.73 loss per share (improved from LK₨0.87 loss in 3Q 2022). Revenue: LK₨66.7m (up 20% from 3Q 2022). Net loss: LK₨95.6m (loss narrowed 16% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: LK₨0.84 loss per share (vs LK₨1.05 loss in 2Q 2022) Second quarter 2023 results: LK₨0.84 loss per share (improved from LK₨1.05 loss in 2Q 2022). Net loss: LK₨110.1m (loss narrowed 20% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Ranasinghe Arachchige Thusitha Perera was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2023 earnings released: LK₨0.84 loss per share (vs LK₨1.05 loss in 2Q 2022) Second quarter 2023 results: LK₨0.84 loss per share (improved from LK₨1.05 loss in 2Q 2022). Net loss: LK₨110.1m (loss narrowed 20% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Board Change • Sep 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Ranasinghe Arachchige Thusitha Perera was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 01
Asia Capital PLC, Annual General Meeting, Sep 30, 2022 Asia Capital PLC, Annual General Meeting, Sep 30, 2022, at 10:00 Indian Standard Time. Location: No 59, Gregory's Road (Srimath R. G. Senenayaka Mawatha) Colombo 07 Sri Lanka Agenda: To receive and consider the Report of the Directors on the State of Affairs of the Company and the Statement of Audited Accounts for the year ended 31 March 2022 and the report of the auditors thereon; to re-appoint Messrs. BDO Partners Chartered Accountants as the Auditors to the Company for the ensuing year and to authorize the Directors to determine their remuneration; and to consider any other matters. Reported Earnings • Aug 17
First quarter 2023 earnings released: LK₨4.34 loss per share (vs LK₨0.69 loss in 1Q 2022) First quarter 2023 results: LK₨4.34 loss per share (down from LK₨0.69 loss in 1Q 2022). Net loss: LK₨569.5m (loss widened LK₨478.8m from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • Jul 31
High number of new directors Non-Executive Director Dhammika Swarnasinghe was the last director to join the board, commencing their role in 2021. Reported Earnings • Jun 03
Full year 2022 earnings released: LK₨7.11 loss per share (vs LK₨1.23 loss in FY 2021) Full year 2022 results: LK₨7.11 loss per share (down from LK₨1.23 loss in FY 2021). Net loss: LK₨933.4m (loss widened 478% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Dhammika Swarnasinghe was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: LK₨0.87 loss per share (down from LK₨0.54 loss in 3Q 2021). Net loss: LK₨114.1m (loss widened 61% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Board Change • Jan 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Dhammika Swarnasinghe was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 20
Non Independent Non-Executive Director recently sold LK₨3.5m worth of stock On the 16th of December, Dilan Andrew Stefan De Abeyesinhe sold around 500k shares on-market at roughly LK₨7.00 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨163m more than they bought in the last 12 months. Reported Earnings • Nov 17
Second quarter 2022 earnings released: LK₨1.05 loss per share (vs LK₨0.76 loss in 2Q 2021) Second quarter 2022 results: Net loss: LK₨137.4m (loss widened 38% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Board Change • Sep 14
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Non-Executive Director Shekhar Balasubramaniam was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 11
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Non-Executive Director Shekhar Balasubramaniam was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 09
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Non-Executive Director Shekhar Balasubramaniam was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Non-Executive Director Shekhar Balasubramaniam was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Non-Executive Director Shekhar Balasubramaniam was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
First quarter 2022 earnings released: LK₨0.69 loss per share (vs LK₨0.76 loss in 1Q 2021) First quarter 2022 results: Net loss: LK₨90.8m (loss narrowed 8.9% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 23
New 90-day low: LK₨5.40 The company is down 23% from its price of LK₨7.00 on 25 November 2020. The Sri Lankan market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: LK₨0.54 loss per share (vs LK₨0.87 loss in 3Q 2020) Third quarter 2021 results: Net loss: LK₨70.8m (loss narrowed 38% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 02
New 90-day low: LK₨6.40 The company is down 4.0% from its price of LK₨6.70 on 04 November 2020. The Sri Lankan market is up 49% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 24% over the same period. Recent Insider Transactions • Jan 13
Non-Executive Director recently sold LK₨87m worth of stock On the 11th of January, Yoshimichi Watanabe sold around 12m shares on-market at roughly LK₨7.50 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨163m more than they bought in the last 12 months. Announcement • Dec 23
Asia Capital PLC (COSE:ACAP.N0000) entered into a share purchase agreement to acquire 70% stake in Navara Capital Partners Ltd from Navara Capital Limited. Asia Capital PLC (COSE:ACAP.N0000) entered into a share purchase agreement to acquire 70% stake in Navara Capital Partners Ltd from Navara Capital Limited on December 21, 2020. Under the terms of transaction, ACAP will acquire 3.5 million shares ordinary voting shares representing 70% of NCPL held by Navara Capital Ltd as per the agreement. Frontier Capital Partners Ltd, acted as the consultant to ACAP group. Is New 90 Day High Low • Nov 12
New 90-day high: LK₨7.90 The company is up 20% from its price of LK₨6.60 on 14 August 2020. The Sri Lankan market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 27% over the same period. Is New 90 Day High Low • Oct 09
New 90-day high: LK₨7.30 The company is up 12% from its price of LK₨6.50 on 10 July 2020. The Sri Lankan market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 29% over the same period. Announcement • Aug 15
Asia Capital PLC to Report Q1, 2020 Results on Sep 15, 2020 Asia Capital PLC announced that they will report Q1, 2020 results on Sep 15, 2020