A few more liquidity events.

Since start-up, realised IRR on a cash basis at 54.34% p.a.based on our partners' capital.

Markets seems to have stabilised now as compared to last year when banks were turning away transactions. This makes it slightly more competitive to find transactions, either equity or debt.

However looking ahead, full implementation of FRS 109 and the banks' new liquidity requirement, Net Stable Funding Ratio under BIS III, may inhibit banks somewhat and push up their costs of funding.

Private investment companies may still have a role to play.

We welcome your ideas and ways to work together.

© 2017 LiShaoCai Capital Partners Private Limited