24-12-2012, 01:52 PM
the significant associate is GP battery, which is very illiquid. If it was to simply use market price for its valuation, it would be very easy for the management to jack up the price of GP battery and make the balance sheet look very good(how to do it? just look at Aspial).
I think that it is fair to use equity method rather than mark-to-market valuation to account, though, how much discount/premium to apply for the valuation of GP Industries is completely a different question.
I think that it is fair to use equity method rather than mark-to-market valuation to account, though, how much discount/premium to apply for the valuation of GP Industries is completely a different question.