Maybulk Had 'Investment' Losses Of Over 62 Million!

I had posted some postings on companies dabbling in the share market. ( see Regarding CSC Steel'sCurrent Earnings And Its Investments In Marketable Securities, Apollo Food's'Investments' In The Share Market and Listed Companies Investments: Yung Kong Galvanised Steel )

From last night announcement, we have a whopper in Maybulk's earnings.

And this one was not easily detected for one has to scrutinise the company's shareholders to see the big stinking whopper!

And to be honest, I missed it myself too and I was not aware of it till I read OSK comments on Maybulk!

• Below expectation. MBC’s annualised 9M core net profits (excluding RM303m gains from sale of 2 bulkers and 1 tanker YTD) were 38% below our expectations and 42% below consensus. The poor results were partly due to RM32.3m in unrealised losses in investments, RM23.1m in forex losses and high MI, which we believe was due to a high number of third party in-charters done through subsidiaries. Its balance sheet remains strong, with net cash per share now at RM1.06. NTA per share also rose to RM1.84.