DJ Early Equity Plc Yicom Global Sdn. Bhd.
TIDMEEQP 23rd August 2016 Early Equity PLC ("Early Equity" or "the Company") Yicom Global Sdn. Bhd. Early Equity Plc (ISDX: EEQP), a proactive investment company focused on early-staged companies which generate recurring income streams, is pleased to announce that Yicom Global Sdn. Bhd. ("Yicom"), of which the Company has a 32.14% stake has released its audited accounts and reported a net profit of Ringgit Malaysia (RM) 850,149 (approximately GBP160,709) on a turnover of RM 4,061,634 (approximately GBP767,795). The Directors of Yicom have declared that 50% of the profits are to be distributed to the shareholders as a dividend and Early Equity will receive RM 136,619 (approximately GBP25,826). Exchange rate is based on RM 5.29 : GBP1. Yicom is the sole importer and patent holder of a series of healthcare products from various countries and in particular China. Yicom has a Sole Distributorship Agreement with Early Infinity Holdings Sdn. Bhd. a direct sales company holding licences to operate a multi-level marketing business in Malaysia. Yicom started trading in February of last year and there are now over one thousand sales agents with products now also being sold in Taiwan. Early Equity Chief Executive Edwin Chua Siew Lian said "We are delighted to report the progress of Yicom and its remarkable achievement to produce a dividend following its maiden trading year. We are continuing our work with Yicom to develop its sales and product range." The directors of Early Equity Plc accept responsibility for this announcement. For further information please contact: Greg Collier Tel: +44 7830 182501 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott -Corporate Finance James Dewhurst - Institutional Sales Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA END
(END) Dow Jones Newswires
August 23, 2016 10:14 ET (14:14 GMT)