ATP 8.00% 13.5¢ atlas pearls ltd

Morningstar - 10 Cents Valuation, page-34

  1. 4,420 Posts.
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    Yes, you're right, Tim.
    At their last auction (Sept 23), they only accepted bids in USD.
    The rebound of USD begins to be significant. According to the figures I could find, USD has increased by 5 % vs AUD since 30/6/23 and by around 7 % vs the average for FY 23. USD has also increased by 3.4 % vs the Indonesian Ruppiah since 30/6/23.

    I can't find their revenues by currency in their annual report.
    The last disclosure was at their AGM last year, where they indicated that FY 22 revenues were coming at around 20 % from JPY, 30 % from USD and the rest from other currencies. Their exposure to USD has probably increased since FY 22, given their policy at the last auction.

    It is not very clear at this stage whether they have a currency hedging policy or not, as indicated below in their annual report :
    "The Group manages their foreign exchange risk against their functional currency. Group companies review exposure on a regular basis and will undertake hedging, if deemed appropriate, under guidance of the Board of Directors."
    Last edited by saintex: 04/10/23
 
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