Thank you for your feedback Nihilism, but I think you missed the...

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18/09/18

11:44

Post #: 35667908
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Originally posted by nihilism ↑

I'm sorry.. but when you looked at the annual report, you skipped Item 9. of the auditors report entirely?

I'm not even a current APT holder (I sold after 25% up and currently waiting for an updated numbers in the US) and even I know this is very cherry picked.

To enlighten everyone, while interest bearing liabilities went up by ~115million, trade recievables went up 140 million (page 50 of the annual report) which discloses what timeframe those recievables are owed against. Of that total recievables (~239million), there is an impairment allowance against each (total 15million, so total recievables is 254million) and the vast majority, 234million is in the 'not yet due' category, meaning it is within 6 weeks of purchase.

I don't understand what putting out 1 sided arguments is meant to achieve? take a look at the full picture.

If you feel that the company is more impaired or should have more allowance for default in their numbers then say that, but putting in a one-sided argument won't buy you any fans.

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Thank you for your feedback Nihilism, but I think you missed the point. I made it clear that I was looking at what I consider the most important rows as a measure of the resilience of the venture. Left tail risk for the analytically minded. Watch out for the big losses and the returns will take care of themselves - for others. The question of the receivables and the level of impairment once the updated accounting standards are applied is a matter for another post.
I am not at all interested in winning any fans!
Regards and
GLTAS

APT Price at posting: $16.10 Sentiment: Sell Disclosure: Not Held
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Thank you for your feedback Nihilism, but I think you missed the...

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