Some suggested waiting for the annual report.
Here is the link. ICAPITAL.BIZ BERHAD
I opened the pdf file in that link and did a quick find on the word AXIATA.
This was what I got.
Huh?
Huh??
Ok, what it is saying is correct but it's a rather 'nice' way that it had compiled all three disposal of shares into one.
Now if one had not followed this blog and the postings, would one have known that iCapital lost a whopping 14 Million in Axiata? And yeah they did not bother to even explain why.
By stating it had a realised gain of rm221.146 gain from those three disposals of shares, it does not tell their massive loss in Axiata, yes?
Some would even call this as twisted reporting!
Anyway, this is how they got the realised gain of rm221.146.
And iCapital's 14.163 million losses in their investment in Axiata has become nothing but a mere accounting entry.
Hey, what are you complaining?
Yeah, some would say, "iCapital made money in their 3 shares disposals what? Bising apa?"
For sure iCapital is good. Hero for many. How could it not be?
Is it a DECOUPLING EFFECT a good explanation?
ReplyDeleteIs Axiata bad result an isolated case & would not affect the big picture of the whole portfolio ?
For some, it's not about how it lost money in Axiata and how much it lost money in Axiata. It was always about accountability and showing respect to their shareholders and explaining what had happened.
ReplyDeleteFact is they invested 21.9 million in axiata.
Fact is they disposed all their shares for only 7.7 million.
Fact is they lost 14.1 million. (Percentage lost = ___? )
Fact is they showed no respect to their shareholders by including this massive loss in Axiata with their gains from their disposal in VADS. (For some, this is called hiding the poor result!)