17 Mar '12, 7am

Global Investments Limited (GIL) Rights Issue

Global Investments Limited (GIL) Rights Issue

A base ROA of 6% will assume that GIL does not invest in highly leverage or risky assets. Assuming PTB of 1 times, these assets would be in the class of SIAEC, PLife REIT, SPH. Relatively safe instruments An ROA of 14% is likely to be assets or instruments that have a finite lifespan, that requires adequate compensation. Paying out the full earnings yield and not accumulating cash as retained earnings would more or less result in future fall of NAV An ROA of 14% can also instruments that are highly leverage within and as such explains the premium in yield. In times of crisis, it is likely to be negatively impaired An ROA of 14% can also be hard to understand instruments (notes, CLO, CDO, swaps) with larger than expected counterparty risks. Thus it explains the higher premium Also note that sans the 94mil, the current Loan Portfolio are likely to have valid terms, whereby t...

Full article: http://www.investmentmoats.com/singapore-stocks/global-in...

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Global Investments Limited (GIL) Rights Issue

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Global Investments Limited (GIL) Rights Issue by Drizzt on March 17, 2012 There is a reason some stocks are never to be to...

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