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1.Market Observations, 8.Was Sticky

25 Feb 2015 (AFR) – ASIC probes valuations amid write-downs

[COMMENT: Well! If a company can announce a write down like this, what does it do for the confidence of any intrinsic value that you might have calculated based on published fundamentals?]

(25 Feb 2015, AFR, p3, Agnes King)

‘The Australian Securities and Investments Commission is investigating 33 companies for inflated valuations and dodgy accounting treatment after a swag of write-downs this reporting season. The probe could trigger restatements or multi-million dollar write-downs similar to that made last week by Primary Health Care, which wrote off $426.2 million worth of goodwill in its results for six months to December under pressure from the regulator.’

Read more at AFR.com (might need AFR login access)

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