TLS 0.99% $4.00 telstra corporation limited.

Telstra aims for China investment, page-4

  1. 831 Posts.
    If Telstra has CSL sewn up then it is a good thing. But we have to be prudent t the same time. China and much of Asia for that matter has a horrendous record with mobile companies. Customers have devised more ways of avoiding payment of their bills than these companies have of collecting them. Thats where the trouble lies firstly.

    A primary lesson in basic accountancy is not to classify 'earnings' on its own as a measure of income or profitability. Yet all of the collapsing giants have failed to heed this warning and have together with their bankers and the government of the day claimed this as a sign of growth.

    Much of the 'earnings' in this particular field is earned but not realised and in a vast majority of cases is never realised. Instaed like World com they are capitalised as an asset ( a debtor) to the organisation and rolled over.

    PCCW was a disaster which Telstra and their board have not come clean on for such a long time and have been allowed to get away with.

    If CSL is sewn up then there is at least the opportunity to make a lot of money providing the PLA suddenly does not come up with strategies to milk the cow in their respective regions. Collections is a very difficult thing for such intangibles as phone calls in China.

    I wonder how the Ratings Agencies continue to give Telstra a AA rating even after PCCW. The ratings agencies like Moody's have as much of an unblemished record for spotting and creating failures as Anderson and the others.

    Watch for the details. In the meantime buy, there are enough of those old fogies applying for Telstra stock based on great promises like "There's gold in them thar hills".


 
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