Vietnam Enterprise Investmentst (VEIL) premiered in 1995 and is the biggest closed-ended fund focused on Vietnam. July 2017 In, it joined up with the FTSE 250. VEIL aims to generate long-term capital growth by following a bottom-up approach, unconstrained by the benchmark, to find high-quality companies that are respected attractively. The fund is managed by Dragon Capital, Vietnam’s largest and longest established investment manager. In this particular webcast, Dominic Scriven, chairman and founder of Dragon Capital, presents the business and discusses why we should spend money on Vietnam, and why now. Dragon’s mind of research, Le Anh Tuan, clarifies VEIL’s investment goal and gives his view for Vietnam. He explains the manager’s investment strategy and what differentiates it from other managers. He discusses the stock portfolio’s current position and recent performance also.
The bulk of the quarterly increase, however, was driven by Boardwalk Pipelines, as its net income contribution more than tripled, mainly due to 2 factors. 19 million caused by a person bankruptcy and related contract cancellation. Offsetting the raises from CNA and Boardwalk were lower year-over-year efforts by Diamond Just offshore and Loews Hotels, despite the fact that Loews Hotels operationally had an excellent quarter. Let me delve into the results in more depth now.
240 million this past year. This modest increase resulted from several offsetting factors nearly. Underlying underwriting income, year development which excludes catastrophe losses in prior, improved, with CNA posting an underlying combined ratio of 94.6%, which was 0.7 factors much better than last year’s second quarter. Despite the increase in underlying underwriting income, however, total underwriting income dropped because of a lower level of beneficial prior yr development and marginally higher kitty deficits.
- The Honourable Ginette Petitpas Taylor, Minister of Health
- 1 – slope of the AE function
- Lease up fee
- 72Ibid., p. 21
- You might not have the ability to be used in your later years
- Advisory services
- 4 years ago from Nottingham UK
CNA’s calendar year combined ratio was 95.7%, which was 1.9 points above last year’s second quarter result but nonetheless highly respectable. THE LIFE SPAN and Corporate & Group segments both acquired significant beneficial variances. In last year’s second quarter, CNA incurred onetime costs from transitioning to a new IT infrastructure service provider.
These nonrecurring costs were booked in CNA’s corporate section. And in Life & Group, results improved from continuing beneficial persistency and long-term care and attention mainly, as much policyholders chose to lapse coverage or reduce benefits in lieu of premium rate increases. In summary, CNA posted strong P&C underwriting and investment results and improved results in its non-P&C segments. Embracing Diamond Offshore. 37 million world wide web loss in last year’s second quarter.
Diamond’s results continue to be negatively affected by the challenging conditions in the global offshore drilling market. While numerous factors impacted Diamond’s quarterly results in comparison, let me highlight 3 of these. Number one, contract drilling profits were down 22% year-over-year as revenue earning days declined 8% and average daily income per working rig was down 14%. Downtime, agreement timing and lower day rates drove these declines. Number 2, contract drilling expenses were up 19%, with the increase largely due to the adverse impact of the amortization of deferred contract prep and mob costs incurred to ready certain rigs for their current contracts.
As we have highlighted for the past several quarters, Diamond remains centered on maintaining a wholesome liquidity position, while investing in its fleet to ensure its rigs are considered top tier by customers. 16 million in Q2 2018, mainly due to the increase in our possession from 51% to 100% and the contract cancellation payment referenced previous.
Operationally, Boardwalk acquired a good one fourth. The underlying income increase was propelled by growth projects placed in service recently. Revenue offsets included the web impact of contract restructurings, expirations and renewals. year 17 million last. Loews Hotels’ underlying year-over-year earnings gains were obscured this quarter by preopening expenses on properties under development and by the write-off of capitalized costs related to a terminated development project.
7 million after-tax in Q2 versus almost no such expenses this past year. Revenues declined mainly due to the sale of 2 owned hotel properties during the past a year as well as renovations at a few possessed hotels. 67 million in last year’s second one fourth. year 123 million last. I would remember that the renovation activity cited above and the sale of 3 properties over the last 12 months, 2 owned and 1 JV, held back the year-over-year adjusted EBITDA comparison. The opening of almost 4,100 rooms in Kansas City, Orlando, St. Arlington and Louis, Texas, from Q2 2019 through Q4 2020, should give a boost to altered EBITDA. Turning to the parent company.
Investment income was down modestly. Contributing to the decrease was a lesser degree of invested property, including a much smaller portfolio of limited collaboration investments. 3.5 billion, with 80% in cash and equivalents and the rest mainly in marketable equity securities and a stock portfolio of limited collaboration investments. 250 million at quarter end, consistent with this decision to shrink the size of this portfolio.