Posted by kcchongnz > May 30, 2013 11:30 AM | Report Abuse X

Posted by joe2703 > May 27, 2013 06:11 PM | Report Abuse 
@kcchong, I'm your fan and I learn a lot of things from you, you have given a lot of useful information and advice. Thanks. 
What do you think about TA Global ? Need your advice. 

TA Global, property development and investment all over the world! Wow!! Don't really know much about this company but I doubt it is really that lucrative to invest all over the world where many places you are not familiar with. 

Just by looking at its latest financial statement ended 31/1/2013, I don't see it meet my view of a good company. Huge outlay of total capital of 3.6 billion with debts closed to equity. Net income is just a pittance of 92m, for a ROTC of just 4%, a huge destroyer of economic value. This is one type of company I would like to avoid. Below is my assessment. 

TA Global a Good company? 0.315
Good governance ?
Durable business No
Growth No
ROTC No 4% <<WACC 
Balance sheet Neutral
Cash flow Yes

Screens for investing
ROTC No 4% <<WACC 
P/B Yes 0.7 <2.0 
PE ratio Yes 18.2 <20