GEN - General Capital (was MyKRIS)

[percy]

As expected a stunning result.
http://nzx-prod-s7fsd7f98s.s3-websit...950/371855.pdf

[percy]

As expected the annual report reads well.
First mortgage security is a very big plus.
A good equity ratio and strong liquidity, means GEN are in a sound position to take advantage of growth prospects
https://www.nzx.com/announcements/394640

[Entrep]

Think I have $5 worth of these thanks to the train wreck that was Viking Capital

[nztx]

Think I have $5 worth of these thanks to the train wreck that was Viking Capital

Might pay to recheck, as there was an announcement on sale of unmarketable parcels .. a few years ago that
looked like 2000 shares minimum

[percy]

Should any one read the annual report would they please comment.
In particular on their first mortgage loan security,their equity ratio ,their business model of providing property bridging finance,mainly through brokers.And lastly their business prospects.

[peat]

Gen Fin.JPG
This is available every quarter from their finance subsidiary.
Notice the significantly increased shareholding by BK.

[percy]

GEN presentation by Brent King is 21 minutes in.

https://www.youtube.com/watch?v=HmAbFP7fwE8

We know GEN's capital ratio is 17.86%

So some sound bites.

Have reached critical mass.

Growth rate.40%to 45%

Lending up to 70% of LVR,all first mortgage, 90% residential..10% commercial.

No unsecured or personal lending.

Term of loans.3 months to 2 years.

[Luckily] No bad debts.

Borrowing cost 4.5%....Lending rate 11%.

NTA 6.36 cents.

Direct Broking show NTA as 4.93 cents and PE of 6.28 [which would be very modest with growth rate over 40%]

Market cap at 4.9 cps is $10.4 mil.

[percy]

Interesting seeing GEN's share price on reasonable volume.
I did note GEN got a mention in The Headliner.Perhaps that has created a bit of interest.?

[stoploss]

Interesting seeing GEN's share price on reasonable volume.
I did note GEN got a mention in The Headliner.Perhaps that has created a bit of interest.?

Lending space very competitive at the moment with the slowdown in the property market.In the 2nd tier space if these guys have a good ,clean book , there
will be some good opportunities for them over the next couple of years .
DISC: Holding, buying.

[percy]

Another extremely positive quarter,with net profit well up.

.http://nzx-prod-s7fsd7f98s.s3-websit...176/375631.pdf