Asian Alliance Insurance's EPS has had a remarkable fall. The reason seems to be "Income from Investment" has fallen from 404,433 to (28,89) (-107% change).
What is exactly meant by "Income from Investment"? Does it mean the unrealized losses? or have they sold at a lost or is it something else?
"Income from Investment" seems to have a large portion of their income, without that AAIC will not be any wear near 76, it should be around 16-19 at current market situation and market P/E. (my view)
If AAIC do not perform well, then it will have an impact on SCAP as well as they hold more than 76%.
considering these facts will it be a good move to apply FOR SCAP RIGHTS? sadly it doesn't seems to be for me.
Remember the right issue money of 1.9B (approximate) is going to be used to settle the debt which was taken to buy AAIC. so it's essential that AAIC performs well otherwise SCAP is not going to have a great result on it's balance sheet.