Review of Swee Joo's Earnings

Past postings on Swee Joo

• Featured Report: KN on Swee Joo **
• A Quick Look At Swee Joo's Earnings
• iCapital And Swee Joo
• Update On Swee Joo's Earnings
• Shipper Swee Joo Announces Losses

Swee Joo announced its earnings last night.

It lost less money compared to the previous quarter reported in Aug 2009 (see A Quick Look At Swee Joo's Earnings ).

(** yeah, some would be curious, why do I bother? Losing less money still means losing money. But then in the stock market, things are rather strange. LOL! Yeah, no joke, losing less money means there is progress within the company. And such a progress is deemed as a possible turnaround. LOL! Me? I suggest not to ass-u-me and rather treat this posting as it is! ** )

Anyway, I was more interested in Swee Joo's balance sheet.

In my older posting on Swee Joo, I noted the following:

• Cash balances dropped to only 10.237 million!!! (Where did the cash go?)
  Total loans stood at 470.062 million.

From Swee Joo's earnings notes reported last night.


Cash rather flat but total loans now has increased to 494.993 million.

How?

Do you really think that Swee Joo is an investment grade stock?