@EarlyRetiree. I was very curious (shocked even) to see that NAOS have increased the carrying valuation of their 2 x Unlisted Investments by 37.5% in the reporting period from 2023 to 2024 in a market environment where listed micro cap company valuations have only marginally increased by 6% .See S&P/ASX Emerging Companies Index [XEC].
The below snip from the Annual Report offers no basis for this significant re-rate. Instead they quote the valuations are based on "unobservable inputs" !!!.
What do you make of this? Is this some kind of accounting magic ? It seems very convenient in a situation where the LTV ratio is approaching critical levels.
Ann: Media Release - FY24 Results & Dividend Declaration, page-11
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