News blog
Asia Digital Holdings
- BY: Andrew Hore |
- POSTED: 04/04/2012 |
A lack of cash has meant that Asia Digital Holdings is selling its Indian operations and also plans to dispose of its more mature Singapore operation.
The disposal proceeds of the Australian business had helped Asia Digital for a while but it remains short of funds. It is also considering closing its Chinese operation, where it has a contract with Dell.
Tyroo Media and Inflection Digital Holdings are paying a total of £413,000 for DGM India Internet Marketing , which provides leads for customers using its affiliate network and search engine optimisation. The cost also covers the purchase of related IP rights. Net of tax the figure will be £337,000. There are also potential payments from DGM India.
Following the disposal, Asia Digital will have £368,000 in the bank and net liabilities of £774,000. At the end of November 2011, there was £235,000 in the bank - although that include £64,000 India where it was difficult to repatriate cash.
Asia Digital needs to invest in its technology. It continues to lose money but cost cutting has reduced the level of loss.
At 0.16p a share, Asia Digital is valued at £1.23m.
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