It's a little confusing when they are adding "cash" on their balance sheet that actually belong to the underlying entities. Seems a bit misleading
PPK has controlling interests in all the subsidiaries and has no choice but to consolidate all assets (including cash).
Its confusing, but it's certainly not misleading. They're reporting the way that they're obligated to.
Ann: Appendix 4E and Annual Report, page-13
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