Hong Kong – September 27, 2023 – NY TAX FIRM TMS PRO AND CAPITAL JOY DEVELOPMENT which focuses on maximizing the value of its equity and real-estate assets in China, Australia, and the United States is pleased to announce the successful insertion of its recent asset exchange relieving combined capital losses of 62.2 USD million.
As a result of the transaction’s completion, Capital Joy’s consolidated cash position has increased to approximately US$527 million, including expected post-closing adjustments. The tax mitigation and asset transformation strategy executed by Tax Mitigation Solutions Professionals – Anthony DiSanto, Michael Rosen, and Richard Anderson resulted in the near total recovery of lost value from investments previously classified as toxic. TMS Pro was able to restructure the asset portfolio, submit and obtain approval from pertinent agencies, mitigate the company’s tax exposure for the fiscal year, ending in 2021, and place Capital Joy back the net profit for the year ending 2022.
“Completing our asset exchange transactions through TMS Pro 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.”
Anthony DiSanto 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 in America, with partners and representation based in the US, China, Korea, and Singapore.
About the TMS Pro
TMS Pro is a registered advisor and portfolio manager who specializes in tax mitigation with over 40 years of experience in, finance, audit, and operations, he currently serves as founder and principal of the TMS Pro and consults for a who’s who list of top finance executives, pension funds, heads of industry, family offices and high net worth individuals.