China Unlimited

[challe08]

I think you missed my point

They better do the spin-off quickly or else they won't be able to report the 10-K on time next year. (19% of profits have to be booked).

What I meant was that Siaf should not give out the 18% share to shareholders before the IPO, there are worth zip to us in our account before they are on an exchange.
Instead keep it at long as possible in Siaf and instead of booking a 19% share of TRW they book 37% of TRW's NI, win-win!

An alternative to that would of course be if the 18% could also be treated like an minority interest(through the trustee) and they would get the 18% of NI and pay that out to s/h's as a divi, but that sounds too good to be true