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i was having a look at ACAP and was having a big smile. 
its one of those companies where the dependance is within the group. Yes they made nearly a 1 Bn (COMPANY) but what needs to look is the GROUP.
THe main profits are ONE off from 1 - share mark to market accounting, 2 - disposal of investments. I wonder if SEC has sent queries to Mr. Nanayakkara and his number boys about the proper disclosures in the interim accounts per SLAS 35?? cos the content is wayyyy minimal and u cant expect such child play from a 1BN profit company! no proper reasons given as to how the 700Mn other income came/computed
- attn to u Ms. Surana from SEC!
dear investors - be mindfull of these accounting and interim reporting of such companies... be wise and get experts to interpret.
ps - note if you are going to use EPS for valuations then u should USE the GROUP and NOT The COMPANY. SLAS 33 doesnt permit disclosure of EPS for the company BUT ONLY FOR THE GROUP. so dont use the wrong numbers and shout telling XYZ is a GEM!!
its one of those companies where the dependance is within the group. Yes they made nearly a 1 Bn (COMPANY) but what needs to look is the GROUP.
THe main profits are ONE off from 1 - share mark to market accounting, 2 - disposal of investments. I wonder if SEC has sent queries to Mr. Nanayakkara and his number boys about the proper disclosures in the interim accounts per SLAS 35?? cos the content is wayyyy minimal and u cant expect such child play from a 1BN profit company! no proper reasons given as to how the 700Mn other income came/computed
- attn to u Ms. Surana from SEC!
dear investors - be mindfull of these accounting and interim reporting of such companies... be wise and get experts to interpret.
ps - note if you are going to use EPS for valuations then u should USE the GROUP and NOT The COMPANY. SLAS 33 doesnt permit disclosure of EPS for the company BUT ONLY FOR THE GROUP. so dont use the wrong numbers and shout telling XYZ is a GEM!!
