I am quite sad and concerned at what is happening in my home town at the moment. Unfortunately, it is a new paradigm for HK people and society in general. Maybe HK society got too complacent or comfortable with life in general. Many had hoped that change wouldn't happen until closer to 2047 but I guess you don't protest at the last minute. You protest with 20 years to go to protect your lifestyle and standard of living.
Yes, it is effecting business in HK and tourism. My sister went out for dinner last week. She left the restaurant at 12.30am to get a taxi. This is normally a problem but the streets where dead quiet that night. A taxi was available straight away. Unheard of in that area. This is effecting everyone, like it or not. But as my sister says, you just avoid those areas. The whole of HK is not in lock down, just certain areas at a certain time of day or night.
What has this got to do with AB1? Pretty well nothing. HK people are pretty resilient people. Just be there when a cyclone hits. Life gets back to normal within minutes once the warnings are lifted. AB1 is a global company. Although there are incentives from the HK government for tech companies to set up where AB1 is, it wouldn't take much to very slowly move HQ to Sydney, Canada or US.
In short, IMHO, the protests shouldn't affect AB1 revenues or profit. The sun still rises everyday on AB1 everywhere around the world. Life goes on.
I can talk more about the protests but I won't bore you at this stage. I actually think that today's report is a good one. We are making operational profits. There is a one off paper expense that made us report a loss. By the looks of it, we are still on track to grow organically and it is onward and upward from here.
I am very comfortable with my holdings here and will be looking to add more when funds are available.
Have a good night everyone.
xxxooo
AB1 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
