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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (54218)	4/1/1999 1:58:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Tip, I think it could and should happen. The problem I see is that the real value of the Ringgit, if it can be calculated at all, is lower than the govt. values it. It always is when currencies are controlled. That means the value of the portfolio is overstated in dollar terms. My lawyers at American Capital were very conservative, but here is how they would have handled it: they would have us give the portfolio value in the native currency and compare it to that currrency in all of our comparisons. We would also do the official rate into dollars comparison. I think Barclay's may be a bit slick claiming there is one less Ringitt to the dollar than Morgan Stanley claims.