A quick look at Kenmark (2.6.2010)
http://spreadsheets.google.com/pub?key=tyT8o3UdiCxgyUhc6ph3flg&output=html
Securities Commission probes Kenmark
Could I have predicted what would happen to Kenmark from its accounts?
Definitely NO
However, it is most unlikely that Kenmark will be a stock I would have in my portfolio based on my investment criterias. Therein, lies my protection against buying such a stock.
Interestingly, here are the comments in the latest SPG (Dynaquest) in its recently released latest edition of March 2010 on Kenmark:
Kenmark is engaged in the manufacturing of wooden furniture which are mainly exported to the West. In FY 08, it expanded from the LCD TV trading and distribution into the assembly of LCD TV. Its 9M 10 results exceeded our expectations with earnings soared by 129.6% yoy. We saw significant improvement in the Wood-based manufacturing segment although Trading segment is not doing so well. Looking forward, improving business environment and better margin are going to fuel Kenmark's profit growth.
It was obvious that those in Dynaquest did not and could not forsee what was coming in Kenmark then. ;-(
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