I cannot even find a branch of Heartland!
Printable View
Just starting to catch up with COOPERATIVE BANK with their advertising
Hope HNZ don't spend too much on this advertising ..... there is a group of people out there who still believe that once a finance company with a fancy name goes on TV they are to be avoided at all costs .... and that was the case for many 'investors' even before Colin and Dougal started appearing on our TV screens
Very much so.!!!!
75 Riccarton Road.
Deposits/investments Feephone 0800852020.
Internent www.heartland.co.nz
Large Cash deposit contact our pickup courier PERCY at sharetrader.
Well said Percy. The problem I have is that Heartland does not give potential investors the information they need to acquire investor confidence. Well, that is not quite true: see note 32c of the FY2012 annual report. That table is the maximum exposure to credit risk by internal credit grading. There was a big jump to over $60m in the Grade 6 'monitor' category. Not a problem yet, but an acknowledgement that there is a large body of loans that need to be 'monitored'. The next category downward is 'substandard' and there was a $20m jump in that. The half year report does not give this kind of reporting detail, yet the 'monitor' and 'substandard' loans amount to a not insubstantial $80m of capital. Now how many years of profit is that? One thing we do know is that the provision for bad loans on Heartland's books has been exhausted.
The other information not given is the term deposit reinvestment rate. PGW Finance was happy to give this before it was acquired by Heartland. So why can't Heartland do it now? Of course this all flows into the matching of deposit capital and loan capital both in amount and maturity timing. No information on that. Yet as we all found out during the finance company crashes, this was the information stakeholders needed. PE ratios, growth or otherwise on the lending book and ad campaigns meant diddly squat. I will be waiting until after the 2013 annual report is out and I will be carefully perusing note 32 before I make my decision to become a shaareholder in Heartland or not.
SNOOPY
Sorry can't answer first question.Ring Simon Owen CFO [09]9279195.or M 0276294602.I expect the Troublesome realestate loans make up the most part of it.It is interesting area with something happening there.I did suspect they were going to take them back from PGC's management.I think I got that wrong, and I now feel they are looking to sell them,maybe to PGC.[NZ Herald article "Inside Money; Pyne Gould answers distressed call"] .They are working on it.I think we would all be pleased to see them shot of the problem.I am off course reading between the lines of what has been stated.
Reinvestment rate.Lizard was quoting reinvestment rates at the beginning of this thread,don't know where she was getting them from.They have always been very high.Again CFO should tell you.
I have seem pie graphs setting out all of this information.May have been in the annual report.
I know one person who (on behalf of all his loyal PGC shareholders) will be particularly thrilled to see the price back up to his underwriting level again at last, and thats my ole mate George Cur. Only another 12 cents higher and he will be at breakeven on all the rest....
oooops, I forgot, no it doesn't matter really, he wisely sold them all at less than half price on behalf of all remaining PGC loyalists
The Market is a funny place. Last week, 71 cents. Close today 76 cents. Why? The situation is the same as ever. Percy, any ideas?
Or have the silly people down in Ashburton now decided to hang on to their shares?
No silly sharehoders in Ashburton,maybe a few dilly Tinwaldians [south of the river] selling.
Expect there are more buyers than sellers,so SP goes up.
I would also think the idea of 2cents divie every six months appeals to a lot of people.
Others would enjoy buying 90cents of NTA for 76cents.ie 15.5% discount,as Sparky The Clown pointed out..
Maybe Balance is right yet again?