Is this ADR worthless


K

Kurt Ullman

A rather interesting conundrum. I hold ADR for a Malaysian
company. When the govt. of the country instituted controls
on the repatriation of money back to the US, the ADR listing
was pulled and it can't be traded. However, I still get
dividends twice a year (and withheld foreign taxes and the
ADR fee which essentially breaks me even). I can't sell it,
but I don't think I call it worthless since the company
itself is still a going concern and I do get the dividend.
So, anything I can do or I am stuck with it for the
foreseeable. I have a couple thousand cap loss that I would
like to take.
 
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C

Charles Markham, EA

I am wondering if you could sell this to a Malaysian. Not
sure how that helps you--perhaps a large brokerage firm like
Merrill Lynch has offices in Malaysia.

Alternatively, I was wondering if a large university might
be able to do something with it. Give it to them as a
charitable deduction.

Charles Markham, EA
 

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