Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<p>* Problems at Group Lease (GL.TB) became more apparent with Ernst &amp; Young’s scathing 2016 audit report which questioned the integrity of inter-company loans, more liberal accounting policies, and the 30% purchase of a Sri Lankan company from a related party at a 120% market premium.</p><p>* Among other items, an independent research report further alleged that Group Lease purposely misled investors, Ernst &amp; Young, and the Stock Exchange of Thailand (SET). Our own research suggests that each…</p>

* Problems at Group Lease (GL.TB) became more apparent with Ernst &amp; Young’s scathing 2016 audit report which questioned the integrity of inter-company loans, more liberal accounting policies, and the 30% purchase of a Sri Lankan company from a related party at a 120% market premium.* Among other items, an independent research report further alleged that Group Lease purposely misled investors, Ernst &amp; Young, and the Stock Exchange of Thailand (SET). Our own research suggests that each…

Japan

Wedge Holdings CO., LTD. is a holding company which was established through reorganization.  The subsidiaries produce audio & visual contents as well as DVD and related character products.  The group companies also provide integrated publishing services including planning, editing, and designing layout to publishers.

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Wedge Holdings (2388 JP)

Group Lease - Lessons from Icharus

* Problems at Group Lease (GL.TB) became more apparent with Ernst & Young’s scathing 2016 audit report which questioned the integrity of...

Thomas J. Monaco

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