WOW! Did IOI Net Profit Increased 15-Fold?

Seriously.

Yeah, I did said seriously.

Does our financial newspapers thinks we are kiddies? Or what?

Yeah, or what.

Take a look at this childish reporting: IOI's Q3 net profit increases almost 15-fold

And the main reason?

• In a statement yesterday, the diversified group said the higher profit is also attributable to unrealised translation gain on US dollar-denominated borrowings of RM231.5 million compared with a loss of RM232.4 million in the third quarter of 2009.

A forex gain of 232.4 million!!!

That's a lot of forex gain, yes?

And if you minus this out, from IOI's net earnings, how impressive is IOI's earnings????

The first thing that struck my mind was last year, I remember, IOI suffered huge losses. And everyone highlighted the issue of the forex losses, implying that the earnings is better if one excludes the losses. So how come... it doesn't work the other way around? Why shouldn't one exclude these forex gains from IOI earnings?

Well.. if one doesn't... then isn't it so clear...what the market wants to tell the investing public?

How?

See past posting (exactly a year ago) Quick Look At IOI Quarterly Earnings and IOI Earnings Results And Flashback On What Has IOI Done The Past One Year