Transpac posts net profit of $42.7m for FY2013

VENTURE capital firm Transpac Industrial Holdings, which recently unveiled an operations revamp, posted net profit of $42.7 million, or earnings per share of 18.24 cents for fiscal 2013, up from $6.63 million, or earnings per share of 3.13 cents a year ago.

The company, which derives income from the sale or revaluation of investments located in various countries, reported total investment income of $63.7 million for the full year ended Dec 31, up from $9.7 million a year ago. Of the $63.7 million, $53.5 million came from China/Hong Kong SAR, $7.47 million from British Virgin Islands, $2.26 million from Singapore and the rest from Taiwan and Indonesia.

Transpac reported total comprehensive income of $47.4 million for fiscal 2013, which included profits realised on divestments and changes in fair value of the group's investments.