Asiaphos

Asiaphos: 4Q13 net loss of $1.2m despite revenue spike of 185% to $2.7m, on the back of higher sales from both upstream and downstream segments. However, operational costs spiked (59%) with the group's ramp up of operations for expansion, coupled with one-off listing expenses. At $0.152, Asiaphos trades at 2.4x P/B.