GEN - General Capital (was MyKRIS)

**Rawz** · 14-09-2022, 08:37 AM

Originally Posted by Balance

Would not touch anything Brent King is involved in.

Investors should bear great heed to past track record and the old adage:

‘Once bitten, twice shy etc.’

‘Once conned shame on you. Twice conned, shame on me.’

What did Brent King actually do?

Tried to google and found this article https://www.nzherald.co.nz/business/...GCEG4NMAUIZ44/
It says King left Dorchester Pacific in 2006 and it was only later that Dorchester ran into trouble.

"King was managing director of Dorchester Pacific from 1988 to 2006 although he sold most of his shares in that company in 2004 to Bridgecorp Capital, then run by Rod Petrecevic, who was later jailed for fraud.

King had founded Dorchester and built it into a $480m company by assets but after his departure it was dragged down by a disastrous investment in St Laurence and went into a moratorium in 2009 because it couldn't meet payments to debenture holders.

However, it had attracted Business Bakery as a cornerstone shareholder and unlike many finance companies, it survived the global financial crisis by convincing investors to accept a complex asset swap. It is now the profitable listed Turners Automotive Group."

**Balance** · 14-09-2022, 08:48 AM

https://www.interest.co.nz/news/4681...hester-icp-bio

**percy** · 14-09-2022, 08:54 AM

Originally Posted by Balance

https://www.interest.co.nz/news/4681...hester-icp-bio

4th September 2008.
???????????????.....
14 years ago.!!!

**Rawz** · 14-09-2022, 08:54 AM

Originally Posted by Balance

https://www.interest.co.nz/news/4681...hester-icp-bio

thanks so he's not a crook just terrible with money? lol

**Balance** · 14-09-2022, 09:22 AM

Originally Posted by Rawz

thanks so he's not a crook just terrible with money? lol

Yup - that’s the story.

**percy** · 14-09-2022, 09:27 AM

Originally Posted by Balance

Yup - that’s the story.

LOL....
GEN accounts ...Sound solid business.,

http://nzx-prod-s7fsd7f98s.s3-websit...640/373866.pdf

**Rawz** · 14-09-2022, 10:22 AM

Originally Posted by percy

LOL....
GEN accounts tell a very different story.

http://nzx-prod-s7fsd7f98s.s3-websit...640/373866.pdf

the report is really good! just spent 30mins reading it. so not in depth by any means.

LVRs look good. Deposit reinvestment rates look good. Credit risk approach looks good. They have 96 lending customers. Bit of room for growth ay? lol

I wish they updated the arrears position in their recent quarterly update. would be easy for them to do and show in black and white how the book is performing. Hope to see it in the next quarterly update.