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APQ Global PLC takes serious action to offset coronavirus challenge

Snapshot

Company's net asset value was US$10.4 cents per share as of 31 March

APQ

Quick facts: APQ Global

Price: 17.5 GBX

AIM:APQ
Market: AIM
Market Cap: £13.7 m
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  • Emerging market-focused investment company
  • Portfolio reduced largely to cash in first quarter of 2020

 

What APQ Global does

APQ Global PLC (LON:APQ) is an emerging markets-focused investment firm with interests across Asia, Latin America, Eastern Europe, the Middle East and Africa

How it's doing

APQ's asset value per share dropped to 10.4 cents (8.4p) at the of March.

At that point, the portfolio comprised US$40.6mln in cash, US$4.3mln of equities, US$1.3mln of bonds and US$1.3mln of direct investments.

What the boss says: Bart Turtleboom, chief executive (in April) 

"This has been the most challenging environment in my career and an exceptionally difficult environment for the company."

“While there is clearly value appearing, history tells us that is going to take at least three to six months before the markets fully stabilise and we’re going to be cautious in that space.”

"We have focused on maximising liquidity in the balance sheet, which was recently achieved. Having stabilised the company's finances, management is now fully committed to exploring further opportunities in line with the company's business strategy and investment policy.

":While there is clearly value appearing, history tells us that is going to take at least three to six months before the markets fully stabilise and we’re going to be cautious in that space.

“Western economic systems are not really designed for an overnight collapse of 20% of GDP.

“Unlike the crisis of 2008, which was really a crisis of the financial sector in the US and Europe, we are now looking at a truly global crisis that has a very significant impact on pretty much on all sectors. That is going to have a lasting impact.”

Video

Inflexion points:

  • Emerging markets recover from hammering at the start of 2020
  • More direct acquisitions, keeping the emerging market focus
  • NAV US$10.4 cents per share as of 31 March

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