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24-12-2012, 11:37 AM
(This post was last modified: 24-12-2012, 11:37 AM by shanrui_91.)
interesting company that seemed to be trading at huge discount to book. Total interest in associate is recorded at $290 million but the market value of the stake is only $80m. This is as a result of the accounting for associate where share of profit of associate is added in and dividend received from associate is deducted. The question should then be does its associate deserve to trade at book value given the high amount of inventory and receivables in both its associates? Of course, another significant figure will be the PPE which comprises leasehold as well as machinery.