Friday, July 07, 2017
According to IMF’s report published in February 2017, Greece’s tax debt to the state climbed to €94.2 billion or close to 55% of GDP in November 2016. Interestingly, 80% of this debt belongs to less than 1% of debtors, which depicts a skewed distribution of debt among a relatively small number of debtors. Moreover, Greece’s tax collection rates (ratio of tax collection to assessment) have been consistently declining since the crisis, falling to 45% in 2015 from 75% in 2010.
Friday, January 06, 2017
On December 30, the Greece Finance Ministry released a document declaring a primary budget surplus of €7.4 billion for the first 11 months of 2016, around €3.8 billion more than earlier projections for 2016. Prime Minister Tsipras highlighted his government’s achievement of a budget surplus (excluding debt servicing) for 2016, which he claimed to be more than double the original forecast for the fiscal period.
Thursday, May 15, 2014
Australia’s top 10 stocks by market capitalisation – BHP Billiton (BHP), Commonwealth Bank (CBA), Rio Tinto (RIO), Westpac (WBC), ANZ, NAB, Telstra (TLS), Wesfarmers (WES), Woolworths (WOW) and CSL – are a solid group of companies that have, on balance, delivered strong returns for shareholders.
Are they positioned to continue delivering growth or do their global counterparts represent more attractive opportunities? We went inside Skaffold Global to find out.
Also consider this: you won’t find any global tech companies in the ASX 10. Pharmaceuticals, big oil and household products also fail to feature in our local market. To gain exposure to these global industries, you must expand your universe to the US and Europe.
Wednesday, March 06, 2013
CMI Limited (CMI) has rejoined the A1 club. Competitor ARB Corp (ARP) is also rated A1 by Skaffold. Whilst ARB’s business model is focused on the manufacture and distribution of 4x4 accessories for recreational 4WD vehicles, CMI’s expands beyond 4WD accessories to include specialist cabling and electrical products for a range of industry sectors that includes light commercial and heavy transport vehicles. Unfortunately both companies are trading at prices higher than Skaffold’s intrinsic value estimate.