The accounting research firm, GMT Research

Lisa Mangkornkarn

The accounting research firm

GMT Research

GMT Research provides independent insight into markets, sectors and companies throughout Asia. Our unique method of mining a comprehensive collection of corporate financial statements for key data allows us to evaluate the financial health of a company, sectors and the market at large. We also investigate the application of accounting standards by companies and sectors, shedding light on the quality of reported profits. Armed with this information, we help investment professionals navigate the financial landscape.

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<li>Failed projects, abandoned hotels, empty car parking spaces, deserted shops…the list goes on. <a href="https://www.smartkarma.com/entities/479" target="_blank" data-smartkarma-citation="entities:479:1">Evergrande (3333 HK)</a> adopted a “build it and they will come” business model - except that they didn’t come.</li>
<li>Indeed, nearly a fifth of properties ever completed remain unsold, while dead assets account for almost a third of total assets excluding cash, a consequence of management’s lack of investment discipline.</li>
<li>And yet Evergrande’s financial statements show no evidence of ever taking any write-downs. Are…</li>
</ul>


Failed projects, abandoned hotels, empty car parking spaces, deserted shops…the list goes on. Evergrande (3333 HK) adopted a “build it and they will come” business model - except that they didn’t come.
Indeed, nearly a fifth of properties ever completed remain unsold, while dead assets account for almost a third of total assets excluding cash, a consequence of management’s lack of investment discipline.
And yet Evergrande’s financial statements show no evidence of ever taking any write-downs. Are…


Evergrande

CHINA EVERGRANDE: Auditors Asleep?