Uni-Asia Finance Corp is a recently-listed finance and investment company with operations in
The structured finance income is derived from transactions that the bankers assist in advisory and origination and is akin to investment banking revenue. The ship investment income is income from the company’s investment in ships. This portion of income, which is a significant portion (56.6% in FY 06) of the company’s income, has very similar economic characteristics to shipping trusts. The distressed assets investment income is somewhat in common with the structured finance investments of the Babcock & Brown structured finance fund. All in all, Uni-Asia operates primarily as an alternative assets investment manager with structured finance investment banking income.
Financial & Profitability Analysis
The table below lists the FY results of Uni-Asia from 2004 thru 2006.
At the current moment it is difficult to do a comparative analysis between the latest results of Westcomb and Uni-Asia as the latter has not released HY07 results. So I shall keep an eye on this company and do deeper analysis later in the year when results are released and the post-IPO numbers give a better springboard for analysis.