Yangzijiang Financial Holding Ltd. has reported a remarkable 51% increase in net profit for FY2024, reaching S$304.6m. This growth is attributed to strategic portfolio adjustments and a substantial rise in maritime fund assets. The company, listed on the SGX Mainboard, has successfully reduced its exposure to Chinese debt investments, aligning with its diversification strategy.
The maritime fund assets have seen a 150% increase since FY2023, contributing S$57.2m in income, nearly 1.5 times higher year-on-year. The firm has also reduced its China debt investment exposure to 29% of its assets under management (AUM), surpassing its mid-term target. This strategic move is part of Yangzijiang Financial’s efforts to mitigate risks associated with single-country investments.
In addition to these achievements, the board has proposed a final dividend of 3.45 Singapore cents per share, representing a 40% payout ratio and a 6.1% dividend yield. This proposal is subject to approval at the upcoming Annual General Meeting in April 2025.
Yangzijiang Financial’s Executive Chairman and CEO, Ren Yuanlin, expressed satisfaction with the company’s progress, stating, “We are pleased with the progress made in reshaping our portfolio, successfully reducing our exposure to China whilst expanding our presence in high-growth sectors.”
Looking ahead, the company plans to continue refining its sector rotation strategy, focusing on maritime investments and private credit funds in Southeast Asia. This approach aims to enhance resilience and capitalise on global investment opportunities.
“`
This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.
