Author Topic: Fairfax India new issue  (Read 198376 times)

changegonnacome

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Re: Fairfax India new issue
« Reply #440 on: November 16, 2020, 06:29:21 PM »
Karthikpm: There does now appear to be a US based OTC ticker for Fairfax India:

   http://www.morningstar.com/stocks/PINX/FFXDF/quote.html

I wonder if this is an ADR?

Interactive Brokers doesn't seem to list FFXDF though, only FIH.U.

Theoretically, does anyone know if buying an OTC stock instead of a Canadian one might be a way of getting around the potential FPIC tax problem referred to earlier in this thread for US investors?

Warmly,
jimjam

Digging up the graveyard here - but did anyone ever get full clarity on this - is Fairfax India deemed a FPIC? Built a position over the past few months and came across this wrinkle!

If no 100% clarity on & if holding a FPIC in a personal US brokerage account - when selling at a capital gain does the IRS easily flag an instrument as a FPIC......I've a note in with my CPA but suspect there might be knowledge on here


hobbit

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Re: Fairfax India new issue
« Reply #441 on: November 19, 2020, 07:51:50 PM »
https://www.business-standard.com/article/finance/explained-how-the-kerala-based-csb-bank-made-a-dramatic-turnaround-120111801497_1.html

Essentially -

New Mgmt with Fairfax appointed CEO

Sacked around 1200 people , average age of employees dropped from 50 to 36, productivity went up . Labour cost to income was 26 % as compared to industry average of 10 . it came down from 26 to 15 % in 1.5 years

Cut down on corporate lending , increased focus on retail ( gold ) and SMEs . Had earlier struggled with high NPAs in corporate lending

Forecasting growth of 25% and looking to acquire another mid sized bank

« Last Edit: November 19, 2020, 07:58:40 PM by hobbit »