I thought that it is rather interesting to see marketing and mass communication techniques being employed into the SGX announcement by the management of Global Investment Limited ("GIL") to confirm that they have taken a hit in their CoCo with Credit Suisse and then express it in a nonchalant manner since it is only a "mere 2.33%" impact on its Net Asset Value of S$0.1682 as at 31 December 2023. The announcement has cleverly avoided mention of a full write-down by only inserting a URL for shareholders to read for themselves the other announcement coming out from Credit Suisse as well as astutely avoiding the quantification of the absolute quantum that is now worthless by only referencing to 2.33% of net assets.
1.Quantification of absolute amount lost in the Credit Suisse banking crisis- S$6.08Mil...