HGH - Heartland Group Holdings

[forest]

my recent comment wrt IT was simply implying that if they only had Sovereign as a mainframe accounting system, then a significant amount of capex will be required to bring them into the 'banking'scene. Sovereign doesn't cut the mustard in my experience with it. I said I didn't know for sure if they (still) did or not, but it's not for me to find out {Quote Xerof}.

Xerof I was at the AGM and the IT was briefly discussed, my understanding is that HNZ understand the importance of their IT system.
Bruce Irvine explained that IT for a bank is bread and butter stuff. My impression is that he thinks the IT is more or less OK for the moment but he realised improvements are needed in the near future. Mention was made that HNZ outsources IT development. The company they use is the same as the one Kiwi Bank uses.

[percy]

Percy, to be fair, not everyone has added to their portfolio at lower prices, as you and indeed others have done as well. There will be a significant body of holders still well under water with long term holdings originating from PGC, and Reporters will always seek out the hard luck story, rather than print any hubris or explanatory statements issued by the Chair.

I get the impression you think I am still 'down' on HNZ

i said at the time Kerr had to bail out, that the fog had lifted for HNZ, and before that my stance proved to be correct - price dropped from 88 to 45 for HNZ, and god help the holders of PGC and PGW. they must have deep pockets. Since then, other than saying the fog had lifted, and good luck to holders for the future, but personally I wouldn't be buying, I have not made comment.


my recent comment wrt IT was simply implying that if they only had Sovereign as a mainframe accounting system, then a significant amount of capex will be required to bring them into the 'banking'scene. Sovereign doesn't cut the mustard in my experience with it. I said I didn't know for sure if they (still) did or not, but it's not for me to find out

i still hold the view a banking license is moral hazard in this case. Whilst their loan portfolio mix remains as it is, the most appropriate regulatory regime is NBDT. I also see the Credit Rating as a problem for RBNZ - one downgrade and they become 'junk' rated. Not saying that will happen, but it is a risk for the Authorities to sweat on. So why would they?


this is my view, and I could be wrong. I wont lose any sleep either way, as I dont own any shares. My original concern with this whole sorry episode is now finally in the hands of the appropriate authorities. I only hope their investigations are exhaustive.....

Regards
Xerof

Xerof.
Thanks for your well thought out comments.I have just spent over half an hour writing my thoughts only to find "you do not have permission please refresh the page".Lost.!!!!!!!!!!!!!!!!!!!!!!!!! So sorry no comments from me.

[janner]

Xerof.
Thanks for your well thought out comments.I have just spent over half an hour writing my thoughts only to find "you do not have permission please refresh the page".Lost.!!!!!!!!!!!!!!!!!!!!!!!!! So sorry no comments from me.

Percy.. Thank you for attending the meeting and for your reports..

HNZ has many overhanging questions for many people IMO..

Is it just another RA.Ra..ra.. from an initial meeting.. With all the circus events.. ??..

We have some on here saying that the kitchen sink is on it.. ( More fool them .. )

Personally will continue with my holding .. Will watch every stroke of their pens..

[percy]

No overhanging questions except "bank licence".
RaRa.No way.! Carefully thought out plans are starting to bare fruit.
On announcement of the banking licence you will see the SP take off.

[biker]

Thanks Percy, for your report on the meeting and comments. Appreciated.

[K1W1G0LD]

jannar, have I offended you in some way......................all things are relative.
I guess its easier to criticize than be correct!

[janner]

jannar, have I offended you in some way......................all things are relative.
I guess its easier to criticize than be correct!

No K1W1GOLD.. You have never offended me.. And I hope never to offend you..

Had to go back and find it was your post 743 that was the one that had the " kitchen sink " on HNZ..

It is an old maxim .. Never put more into the market than you can afford to lose..

I feel sure that Mrs. K1W1GOLD would be most annoyed at you if you lost the " kitchen sink "..

Also ... Percy has been great with his updates etc.. etc... BUT.. It is so easy to be carried away with hype..

Not that I am accusing Percy of hyping HNZ..

It is the very nature of this game.. DYOR... DYOR... and again ,, DYOR..


Disc.. Holding .. and.. Building..

[percy]

Percy, to be fair, not everyone has added to their portfolio at lower prices, as you and indeed others have done as well. There will be a significant body of holders still well under water with long term holdings originating from PGC, and Reporters will always seek out the hard luck story, rather than print any hubris or explanatory statements issued by the Chair.

I get the impression you think I am still 'down' on HNZ

i said at the time Kerr had to bail out, that the fog had lifted for HNZ, and before that my stance proved to be correct - price dropped from 88 to 45 for HNZ, and god help the holders of PGC and PGW. they must have deep pockets. Since then, other than saying the fog had lifted, and good luck to holders for the future, but personally I wouldn't be buying, I have not made comment.


my recent comment wrt IT was simply implying that if they only had Sovereign as a mainframe accounting system, then a significant amount of capex will be required to bring them into the 'banking'scene. Sovereign doesn't cut the mustard in my experience with it. I said I didn't know for sure if they (still) did or not, but it's not for me to find out

i still hold the view a banking license is moral hazard in this case. Whilst their loan portfolio mix remains as it is, the most appropriate regulatory regime is NBDT. I also see the Credit Rating as a problem for RBNZ - one downgrade and they become 'junk' rated. Not saying that will happen, but it is a risk for the Authorities to sweat on. So why would they?


this is my view, and I could be wrong. I wont lose any sleep either way, as I dont own any shares. My original concern with this whole sorry episode is now finally in the hands of the appropriate authorities. I only hope their investigations are exhaustive.....

Regards
Xerof

Lets see if I don't get logged out this time.
Yes I owe you an apology as I thought mistakenly you were "down"on HNZ and no matter what IT they did would not be good enough for you.
I now appriciate you were correct in your views on George Kerr.
Chairman Bruce Irvine and CEO Jeff Greenslade were very pleased with recent credit rating report.They mentioned while discussing dividends they were mindful of opportunities avaliable and capital requirements which would come before dividends,I don't think they could stomach a credit downgrade.
I find your posts interesting and very well thought out.

[janner]

Lets see if I don't get logged out this time.
Yes I owe you an apology as I thought mistakenly you were "down"on HNZ and no matter what IT they did would not be good enough for you.
I now appriciate you were correct in your views on George Kerr.
Chairman Bruce Irvine and CEO Jeff Greenslade were very pleased with recent credit rating report.They mentioned while discussing dividends they were mindful of opportunities avaliable and capital requirements which would come before dividends,I don't think they could stomach a credit downgrade.
I find your posts interesting and very well thought out.

As I do yours Percy.

Not wanting to turn this into a mutual admiration society..

Is this site not about posting ones thoughts and reading others thoughts.. ??..

Long may it live..

[Xerof]

Sometimes hard to get context across janner, but we try our best.

no apology sought percy, just wanted to reiterate my current position, which moderated with Cur's exit from the register. We still hold differing levels of enthusiasm for HNZ, but life would be dull if we all agreed with each other.

Interesting 'sound byte' from chair and CEO re rating and opportunities. Keep it coming......

cheers