Hong Kong S.A.R:
CAPITAL JOY DEVELOPMENT which focuses on maximizing the value of its equity and real-estate assets in Indonesia, Australia, and the United States has announced the successful completion of their recent asset exchange relieving combined capital losses of 16.2 USD million.
As a result of the transaction's completion, Capital Joy’s consolidated cash position has increased to approximately US$27 million, including expected post-closing adjustments. The tax mitigation and asset transformation strategy executed by Peter J. Moore and associates, Daniel Johnson and Richard Anderson resulted in the near total recovery of lost value from investments previously classified as toxic. PJM was able to restructure the asset portfolio, submit and obtain approval from pertinent agencies, mitigate the company's tax exposure for fiscal year ending in 2010 and place Capital Joy back into profit for year ending 2011.
"Completing our asset exchange transactions through PJM is a transformational event for CAPITAL JOY DEVELOPMENT and illustrates the continued execution of our turnaround strategy," said Robert McNamara, President and CEO of Capital Joy. "In addition to creating a strong balanced portfolio, the transaction recovers our liquidity to a level that provides access to new opportunity and sustained growth while simultaneously mitigating jurisdictional tax risk.” Mr. McNamara continues “We can finally free up the resources to focus on strong growth opportunities in areas like Indonesia, a country which has been largely unaffected by the global economic downturn."
Peter J. Moore commented “We are pleased with the results our team has achieved for Capital Joy. Tax and banking laws have been radically rewritten since the financial downturn and revised legislation presents a powerful set of new tools available to the astute portfolio manager,” he continued, “While pioneering work in risk mitigation is normally done at the institutional level the same strategies are now viable options for the professional independent investor. It’s a very exciting time for both tax and portfolio management.”
About Capital Joy Development
The company is registered and operates from The America’s, with partners and representation based in the US, China, Korea and Singapore.
About the Peter John Moore Executive Office
Peter John Moore (PJM) is a registered advisor and portfolio manager with over 30 years of experience in finance, audit and operations, he currently serves as founder and principal of the PJM Executive Office and consults for a who’s who list of top finance executives, pension funds, heads of industry, family offices and high net worth individuals. The PJM Tax Practice is considered one of the most innovative in the industry.
CONTACTS : For more information on this topic: Capital Joy Development Jessica Barrow +852 56810442 (EU & Asia) +19173870522 (Americas) Public Relations Office firstname.lastname@example.org , ,