Asia Cassava Resources Holdings Limited
HHKEX:8410.16
HKD
+0.02
(+13.97%)
Asia Cassava Resources Holdings Limited
HKEX:841
(Hong Kong Exchange)
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0.16
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- Business
- Asia Cassava Resources Holdings Limited, an investment holding company founded in 1984 and headquartered in Tsim Sha Tsui East, Hong Kong, principally engages in the procurement, processing, warehousing, logistics, and sale of dried cassava chips primarily sourced from Southeast Asia and sold to customers in Mainland China; it also undertakes property investment in office spaces and industrial properties, as well as hotel and serviced apartment operations in Mainland China and Hong Kong. The company operates through three main segments: Procurement and Sale of Dried Cassava Chips, which includes trading and tendering under the "Artwell" or "雅禾" brand, manufacturing and processing of tapioca starch, and shipping agency services; Property Investment, generating rental income from commercial and industrial buildings; and Hotel and Serviced Apartment Operations, encompassing hotel management, restaurant services, ancillary entertainment facilities, and operation of properties such as 338 Apartment. It maintains extensive procurement networks and storage facilities with a total capacity of 600,000 tonnes across Thailand, Laos, Cambodia, and Vietnam, supported by owned fleets for inland and ocean transportation, dedicated loading docks, and subsidiaries including Rizhao Yushun Cassava Co., Ltd., Artsun International Macao Limited, Global Property Connection Co., Ltd., Art Rich International Limited, and Alush (Thailand) Co., Ltd.; geographic operations span Mainland China (key sales market for fuel ethanol, edible alcohol, feed, and chemical industries), Hong Kong, Thailand (largest exporter of dried cassava chips), Laos, Cambodia, and Vietnam, with approximately 220-250 employees serving large and medium-sized enterprise customers. In recent developments, the group established a subsidiary in Laos as announced on 17 June 2024 to expand procurement networks and support medium- to long-term growth through economies of scale in dried cassava chips; it plans to form a joint venture in Laos for tapioca starch production and sales to diversify downstream from its core dried cassava chips business and reduce reliance on the Mainland China market. Completion occurred on 30 November 2024 for the acquisition of three units (Nos. 3, 4, and 9 on the 11th Floor, Houston Centre, Kowloon) at HK$50.56 million, classified as investment properties to bolster its property segment. For the year ended 31 March 2025, the group reported a gearing ratio of 51.8% (up from 39.0%), net assets of approximately HK$295.3 million in borrowings related to 338 Apartment operations, and strategic inventory holdings amid efforts to lower unit costs and capture rising demand; interim results for the half-year ended 30 September 2025 were recently announced, reflecting ongoing focus on industrial diversification and Southeast Asian expansion.