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TENCENT (700) HK$402.600 +10.800 (+2.76%) - More upside today if ROE plays ball

Patrick you mean this..

Tencent Holdings Ltd. (0700.HK) reported a 69% increase in third-quarter net profit, driven by strong growth in its mobile-gaming and digital-content divisions and robust advertising revenue.
The Chinese internet giant said Wednesday its net profit for the July-September period rose to 18.01 billion yuan ($2.71 billion) from CNY10.65 billion a year earlier. Analysts polled by S&P Global Market Intelligence expected net profit of CNY15.7 billion.
Tencent's revenue for the period rose 61% to CNY65.21 billion, beating analysts' forecast for CNY61 billion.
Tencent shares ended 1.3% lower in Hong Kong.

3698.49        +106.99        (+2.98%)

A SENS at last ..

Release Date: 08/11/2017 16:15:00      Code(s): SNH     Email this JSE Sens Item to a Friend   Printer Friendly Version
Steinhoff´S GT Branding Holding Investor Information Correct And In Line With IFRS Requirements

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019

Steinhoff´s GT Branding Holding Investor Information correct and in line with IFRS Requirements

Stellenbosch, November 8, 2017 – In response to a Reuters release from today, November 8, 2017,
STEINHOFF INTERNATIONAL HOLDINGS N.V. ("Steinhoff" or the “Company”) clarifies again that
Steinhoff´s reporting and investor information regarding all transactions between Steinhoff and GT
Global Branding are in line with all IFRS (International Reporting Standard) requirements including
internal accounting rules and the Prospectus Directive.

Markus Jooste, CEO of Steinhoff International: “All reporting requirements have been met. This has
been confirmed by our internal legal team and external experts.”

Steinhoff co-invested as a minority shareholder in GT Branding Holding in 2015 to enable the company
to continue to invest, develop and strengthen the manufacturing furniture brands on a world-wide
basis. This decision further based on the economic return to be derived from this investment (in
establishing and owning relevant brands worthy of earning royalties from a host of customers in
future).

In the Steinhoff annual accounts from September 30, 2016, GT Branding Holding forms part of
Steinhoff´s associate investments. The equity in the company (together with the preference share
amounting to Euro 384 mio) is shown in investment in and loans to associated companies. The funding
supplied to GT Branding Holding is shown under short term loans and amounted to
Euro 339 mio. Loans bear interest at market related interest rates. In terms of IAS 24 the net amount
for the 2016 September financial year amounted to zero and therefore no disclosure was made as the
related party transaction was zero.

JSE Sponsor
PSG Capital

Let's see if he takes a short position before expiry. Or maybe he will take delivery?

He's going long as he thinks the share price will rise. May have something to do with the Amsterdam court outcome towards the end of this month. If the court ruling is what we are hoping for, we can surely assume a decent price increase. 

From https://bitcoin.stackexchange.com/questions/148/what-exactly-is-mining

The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out all across the network. Most of the heavy lifting for Bitcoin is done by "miners".

Miners collect the transactions on the network (like "Alice pays Karim 10 bitcoins" and "Liam pays Sofia 8.3 bitcoins") into large bundles called blocks. These blocks are strung together into one continuous, authoritative record called the block chain, which doesn't permit any conflicting transactions. This is necessary because without it people would be able to sign the same bitcoins over to two different recipients, like writing cheques for more money than you have in your account. The block chain lets you know for sure exactly which transactions count and can be trusted (so no bad cheques!).

The way Bitcoin makes sure there is only one block chain is by making blocks really hard to produce. So instead of just being able to make blocks at will, miners have to compute a cryptographic hash of the block that meets certain criteria. Bitcoiners refer to this process as "hashing". The only way to find a cryptographic hash that's "good enough to count" is to try computing a whole bunch of them until you get lucky and find one that works. This is the "lottery" that David Schwartz refers to, because miners who successfully create a block are rewarded some bitcoins according to a preset schedule. The difficulty of the criteria for the hash is continually adjusted based on how frequently blocks are appearing, so more competition equals more work needed to find a block. A modern GPU can try hundreds of millions of hashes per second, so to be competitive in this race to find hashes miners need specialised hardware, otherwise they will tend to spend more on electricity than they make in the "lottery".

In addition to the hash criteria, a block needs to contain only valid, non-conflicting transactions. So the other main task for miners is to carefully validate all the transactions that go into their blocks, otherwise they won't get any reward for their work!

Because of all this work, when a Bitcoin client signs on to the network it can trust the block chain that was most difficult to produce (since this is evidently the one that was being worked on by the most miners). If there was a "fake" blockchain competing with the real ones (say, where someone pretends that they didn't actually give Sofia those 8.4 bitcoins and they still have them), the fraudster would have to do as much work as the whole rest of the network to make their block chain look as trustworthy. So essentially, the intense work that goes into finding blocks through hashing secures the network against fraud. There is also, of course, some nifty code that figures out how to choose between conflicting transactions; and what to do if two people find valid blocks at the same time.

One last thing: why is it called mining? In the original analogy, people who performed this essential work were compared to gold miners digging the gold out of the ground so that everyone could use it. But in reality, Bitcoin "miners" are just running computer programs on very specialised hardware that automates the process of securing the network. To sum up, this software

Collects transactions from the network
Validates them, and doesn't allow conflicting ones
Puts them into large bundles called blocks
Computes cryptographic hashes over and over until if finds one "good enough to count"
Then submits the block to the network, adding it to the block chain and earning a reward in return.
That's mining in a nutshell!

@jaDEB

Yup rather strange, but maybe because of what Mark Mobius said.

"We can buy Naspers cheaper than we can buy Tencent," Mobius said. "If you buy Naspers, you get an Africa satellite TV business for free and you are buying this big internet company Tencent at a discount. If you have a choice to buy Tencent or Naspers, you better buy Naspers."

Mobius’s call clashes with the strategy adopted by CEO Bob Van Dijk, who has been pursuing internet technology acquisitions since taking the helm from chairperson Koos Bekker in 2014.

http://www.fin24.com/Tech/Companies/naspers-should-buy-own-stock-to-tap-tencent-gap-expert-20171011