What has the Paper Tiger ever done to you?
Quote:
Originally Posted by
percy
Paper Tiger.
Not sure you are correct.
It appears I along with two major brokerage houses, whose updated research I read yesterday, do not see what you are seeing.
Both research papers noted the very small % increase in impairements,although one research paper expected the final quarters will be the one to watch.
Both research papers had HBL as a buy,one with a target price of $1.30 ,the other $1.34.
Both were most impressed with HBL's margin and control of costs.
Percy, I am absolutely mortified that someone of your standing on this forum should even entertain the least glimmer of doubt as to my ability to copy and paste numbers.
I offer this image from the latest Disclosure Statement as proof of my accuracy:http://i7.photobucket.com/albums/y26...0-Evidence.png
My distress is deep and my partner is going to have cope with the ramifications of this when they get home tonight AND I will almost certainly exceed my weekly recommended alcohol consumption before the day is out.
I have half a mind to never here post ever again.
Exit stage left.
I never could resist food
So I was on the way to the river (or Sungai as we say round here) to throw myself in and end it all, when I got sidetracked by a stall selling Burger Ramly Daging Spesial (where the pattie is wrapped in a fried egg), and by the time I had eaten a few I thought that maybe I should hang around a bit longer as you lot obviously need my help.
There seems to be some confusion between 'Impaired Assets', 'Provision For Impaired Assets' and 'Impaired Asset Expense'.
So go back to my farewell post and look at the numbers in the Rural Column.
Individually Impaired [Assets] ($23,489) is the total value of loans which are (almost certainly) behind in their repayments and for which Heartland is determining the amount of future expected loss individually for each loan.
Provision for Individually Impaired Assets ($1,180) is the total value that they do not currently expect to recover across all of those Individually Impaired Assets.
Individually Impaired Asset Expense ($1,021) is the net amount (there are complications) of new provisions [for individually impaired assets] in this financial year and this gets knocked off (or if negative, added on) the earnings before the tax is calculated.
To complicate the issue there are collectively impaired assets as well - which are the same but different.
As a light relief from going up and down the columns you can also move left and right across the rows and see that whilst Rural Individually Impaired Assets are $23,489 they are not the same thing as the Total Impaired Asset Expense of $8,652.
Best Wishes
Paper Tiger
PS I hope I have got this right