RM137mil Q4 loss for Pos Malaysia Feb 23, 2008
Pos Malaysia said pre-tax profit was significantly lower due to allowance for diminution in value of investment amounting to RM140. 9mil, mainly to address the impairment issue on its investment in Transmile Group Bhd. (The Star Online, Malaysia -- Business)
Higher investment income for EPF Jan 31, 2008
88bil after deducting dividends for withdrawals, investment expenses, operational expenses, death and incapacitation payments and allowances for diminution in value of investments and losses. For every 1% dividend announced for 2007, the EPF needed RM2. (The Star Online, Malaysia -- Business)
Supreme Court Argument Report: Justices Consider Claim for Pension Plan Losses Nov 27, 2007
Peter K. Stris, arguing on behalf of LaRue, stated that the plain meaning of the statutory language providing that "any losses to the plan" caused by fiduciary breach are recoverable "includes any diminution in value of defined contribution plan assets, regardless of the number of participants ultimately affected.". Justice Antonin Scalia asked Stris why LaRue didn't first apply for recovery against the plan instead of against the fiduciary. (Law.com)
Bofa's Turn: $3B Write-Down Nov 14, 2007
"As market conditions change and possibly worsen, there could be additional diminution in value," Price said. Besides writing off 3 billion worth of debt in the fourth quarter because of a surge in homeowner defaults on loans, BofA said it would set aside 600 million to help prop up its money market mutual funds exposed to the same kind of risky debt. (New York Post -- Business)
Federal Judge Approves $93 Million CIGNA Securities Settlement Jul 18, 2007
SERS therefore could not show any economic loss, the defense team argued, because a comparison of all CIGNA stock owned by SERS at the beginning of the class period and the sales made during the class period to the diminution in value -- which CIGNA stock allegedly suffered as a result of the decline in price as of the end of the damage period -- showed that SERS had gained more than it lost. But Baylson refused to dismiss the suit, saying he rejected the defense argument that the U.S. Supreme... (Law.com)
Centro raising failed to fire Apr 25, 2007
63 million; but provision for diminution in value is $2. 56 million, which means the product they've got on hand can't be too useful. (Sydney Morning Herald -- Business)
SunInc rising as debt issue may be settled Jan 20, 2007
4mil for the July-September quarter last year even though the company made a provision for diminution in value of its investment in SunInfra amounting to RM14. 8mil. (The Star Online, Malaysia -- Business)
