Bluedell 5,356 Posted April 5, 2011 Share Posted April 5, 2011 The MIH accounts to 30 June 2010 have just been published and show a loss of �£73m and net assets of only �£7.7m. Not great reading. 0 Quote Link to post Share on other sites More sharing options...
plgsarmy 111 Posted April 5, 2011 Share Posted April 5, 2011 The MIH accounts to 30 June 2010 have just been published and show a loss of �£73m and net assets of only �£7.7m. Not great reading. Takeover speculation to hide bad news? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted April 5, 2011 Author Share Posted April 5, 2011 Takeover speculation to hide bad news? I saw Eddie Badabing making the same point. Who knows? It's possible. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted April 5, 2011 Share Posted April 5, 2011 At least it is net ASSETS and not liabilities... if you can believe the property valuations 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted April 5, 2011 Share Posted April 5, 2011 The property valuations have been devalued by about 20%, so probably not outrageous. I can imagine that an upturn in the economy and property prices would see the group make a pretty good recovery... The �£150M injection from Lloyds has clearly kept them afloat and the restructuring and property sales have stabilised things. 0 Quote Link to post Share on other sites More sharing options...
Frank Hovis 0 Posted April 5, 2011 Share Posted April 5, 2011 7.7m in assets!!! For a company with so much property assets, I find that absolutely staggering. Would the sale of Ibrox and Murray Park tip that to a negative?? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted April 5, 2011 Author Share Posted April 5, 2011 At least it is net ASSETS and not liabilities... if you can believe the property valuations Or if you are able to transfer some fixed assets into current assets and avoid depreciation. 0 Quote Link to post Share on other sites More sharing options...
Guest thetruthwill0ut Posted April 5, 2011 Share Posted April 5, 2011 Once RFC comes out, its net assets will be deducted from MIH balance sheet. Most likely resulting in net liabilities. Not good for MIH, but there's no way the bank won't support. They're in too deep. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted April 5, 2011 Share Posted April 5, 2011 Or if you are able to transfer some fixed assets into current assets and avoid depreciation. What is he doing that with BD ? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted April 5, 2011 Author Share Posted April 5, 2011 What is he doing that with BD ? Some investment properties that were previously depreciated but are now been reclassified as stock. 0 Quote Link to post Share on other sites More sharing options...
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