OnMobile Global Ltd : Reading between the lines

News in media:-
1) “misappropriation of money at OnMobile” 
2) "weak corporate governance"

Reading between the lines:- 

OnMobile is profit making company with consolidated sale rise @ 18% in FY 11 & FY 12. 

1) Misappropriation may have resulted in higher expenses / higher assets valuation in past. In future balance sheet will be clean & company can deliver higher profit margins.

2) We will see improvement in “corporate governance”, leading to higher valuation in future.

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