HGH - Heartland Group Holdings

[Snoopy]

Table in the accounts is headed.

"Deferred tax assets comprise...."

This is NOT difficult folks

No mention of any deferred tax on reverse mortgages in that 'Deferred Tax Asset' list, but then again there is no mention of any loan asset class. So it could be that such deferred asset tax, if it exists, is classified in another way.

I think this is one of those questions for which the answer is obvious provided you already know what the answer is. I am prepared to accept Winner's opinion that the tax must be paid before the loan is repaid. Another cashflow headache for Jeff.

SNOOPY

[Snow Leopard]

Tax to be paid at a later date would be a deferred tax liability.
Said table lists assets and liabilities and tax on reverse mortgages is not there cos' they ain't any.

"...Moving onto the Cashflow statement, the actual cash paid was $25,895m. That is tax not paid in cash was $27.896m, - $25,895m = $2.001m. That difference is not the same as the deferred tax. So it looks like something complicated is going on..."

The amount of tax you actually paid in one financial year and the amount due for the same financial year are not the same thing.

The world's tax men are forever asking me for extra or admitting that they owe me (and some of those even pay it back).

[King1212]

ANZ is paying dividend n saying it is profitable. So good chance HGh will pay dividend too

[peat]

announcement today strikes me as a bit advertorial.
I didnt get any sense of how much risk they are able to palm off to the govt which is surely what these schemes have to do otherwise bankers gonna be running a mile.

[Snoopy]

announcement today strikes me as a bit advertorial.
I didnt get any sense of how much risk they are able to palm off to the govt which is surely what these schemes have to do otherwise bankers gonna be running a mile.

This is the bit I liked

"The changes will enable Heartland Bank, and other participating banks, to assist more new and existing qualifying business customers to repay or refinance up to 20% of their existing debt."

I think that means the government just bailed out 20% of Heartlands bad debt, to a level of 80%. Has to be positive for Heartland shareholders, if not taxpayers. Let's hope Jeff gets his staff on the blower, to get all that refinancing done!

SNOOPY

[Cyclical]

Let's hope Jeff gets his staff on the blower, to get all that refinancing done!

SNOOPY

Could it be a bit of a balancing act between keeping them on higher paying legacy interest rates vs rewriting to today's new norm? Although maybe break/(re)establishment fees would ease the pain?

[Snoopy]

Could it be a bit of a balancing act between keeping them on higher paying legacy interest rates vs rewriting to today's new norm? Although maybe break/(re)establishment fees would ease the pain?

Could be Cyclical. But I would think at times like this, the return of the bank's capital would be more to the forefront of a bankers mind than the return on their capital!

SNOOPY

[Beagle]

https://www.nzherald.co.nz/personal-...ectid=12360453

Hey Snoopy. Do HGH still own part of this ?

I think this gives a valuable insight that some need to see of what happens when you loan money unsecured to muppetts.

[Scrunch]

https://www.nzherald.co.nz/personal-...ectid=12360453

Hey Snoopy. Do HGH still own part of this ?

I think this gives a valuable insight that some need to see of what happens when you loan money unsecured to muppetts.

The companies office shows that Heartland Group Holdings Limited (6937955) owns 13.06% of Harmoney Corp Limited (5177041). Snoopy can confirm if these are the correct entities to consider and what the impact on Heartland's P&L would be. I'm not sure if a proportionate share of the loss would go into HGH's accounts ($2m) or the loss would revalue the value of the holding for some unknown impact.

[winner69]

The companies office shows that Heartland Group Holdings Limited (6937955) owns 13.06% of Harmoney Corp Limited (5177041). Snoopy can confirm if these are the correct entities to consider and what the impact on Heartland's P&L would be. I'm not sure if a proportionate share of the loss would go into HGH's accounts ($2m) or the loss would revalue the value of the holding for some unknown impact.

That Harmoney performance shouldn’t impact Heartland that much. Their shareholding in Harmoney is shown Somewhere in The books as an investment.

Heartlands main exposure is how much of the $220m odd lending they have put through ( not in) Harmoney is impaired ....could be heaps based on Harmoneys experience.

If interested Harmoney report
https://app.companiesoffice.govt.nz/...962D2A468D65A8