CLAL financial exploitation of the results, once again

Clal Finance has submitted a writing, as if you have an external evaluation by Clal Finance Underwriting, which valued the company at the same values of justice, which is NIS 68 million at the end of 2008.

Clal Finance subsidiary booked value of the former Soviet Union 85 million euros, which is the starting point for writing down.As result of depreciation, Clal Finance, headed by the Director-General Shuki Abramovich is back on its financial report for the year 2008 , which will be even bigger company previously reported losses from 310.5 million NIS NIS 327.3 million.

The company has published a new financial report for 2008, two weeks after the publication of its financial report for the first quarter of 2009.The court has concluded that Clal Finance Underwriting worth more than his right. Reasons for the termination is not known, because it refuses to publish the Clal Finance report.

This raises the question of Israel Securities Authority should require companies to inform the report, due to the amount of depreciation in respect of its shareholders' equity.In November 2008, the Clal Finance has published its financial report for the third quarter, the Titles office ordered the company odepsat NIS 80 million for capital Ilanot funds, obtained from Israel Discount Bank (TASE: DSCT) for two years before.