Yung Kong announced its earnings just now. It lost some 6.2 million. However, I was more interested to see their quoted investments again.
Well total investments at cost was 42.2 million.
Total investments based at market value was 16.185 million.
Ahem.. paper loss of 26.015 million.
And again I repeat my issue as posted in Listed Companies Investments: Yung Kong Galvanised Steel
Firstly, don't you think that Yung Kong should give up its so-called unknown investments?
Secondly, don't you think there should be more transparency here and that it's only right that Yung Kong disclose exact information on their investments?
How?
I guess, with financial statements, the lack of disclosure is all part of the game.
ReplyDeleteJust a thought.
Yes, this is correct,
ReplyDeleteHowever, for us, ie from the minority shareholders point of view, this is something that is simply not unacceptable.
What exactly are these investments that are losing so much money?
Why are they dabbling with such investments?
Why can't they return the excess money to the minority investors?
Yeah. Those things are definitely relevant and critical to minority shareholders. But as long as there are no changes to accounting standards for the time being, I would think that most entities would keep their disclosure to the bare minimum.
ReplyDeleteGood news about the RPT development (your latest post). I would think that there would be very little avenue for dubious RPT deals. Good for the little people.