UAFRS vs As Reported Weekly Highlights - Asia - 2020 06 19
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 5AU:SGP, BZUN and 300112:CHN.AP Oil International Limited is engaged in the manufacture of petroleum lubricating oil, including wholesale of oil and fuel, dealing in paraffin wax, lubricating oil and grease, and investment holding. The Company operates through three segments: manufacturing, trading and franchising. The manufacturing segment manufactures a range of lubricating oils and fluids and specialty chemicals for industrial, automotive and marine applications and provides blending services to its customers. The trading segment trades in base oil and additives, and specialty chemicals. Its trading activities include purchase and sales of raw materials used for lubricants and specialty chemicals manufacturing. Its franchising segment includes trades in raw materials for products. Its franchising programs include cover designs of plant and machinery, the setting up of laboratory, product formulation and staff training. Its lubricant products are marketed under the brand name of apoil and SIN-O.
Shenzhen Maxonic Automation Control Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of industrial automation instrument. The Company operates through two main segments. The Industrial Automatic Controlling segment is mainly engaged in the manufacture and sales of field instrument, secondary instrument and others, pressure instrument and accessories. The segment's main business is also engaged in the engineering installation. The Others segment is mainly engaged in the import and export of goods and technologies.
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- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
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Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
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