@Bond wrote:@salt wrote:This is result of serious of acquisition
Every good analyst knows that intangible assets should be excluded when looking at NAV. You may want to recompute and reassess things.
The SHL has consolidated goodwill on top of existing goodwill. Was there any goodwill in AAIC before SHL took over?
However I'm still puzzled by the intangible assets are high when equity is not as high. It can't just be minority interest (that is the NDB stake)
You may be right on the NAV calculations but parent company can have its goodwill plus the goodwill arise on its acquisitions. they must be having a higher goodwill most probably due the Hospital industry where it has strong brand equity and a loyal customer base.
And AAIC might not have a positive goodwill (its not virtually certain), but thats fine given that negative good will bring FV gain on investment to the SHL. Overall SHL is a good company there hospitals are in a great position i presume and as salt said financial companies can turn into a good position when interest rates eases.