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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Is this good news for LHCL share holders who bought at 50's?

Is this good news for LHCL share holders who bought at 50's?

5 posters

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undervalued

undervalued
Stock Analytic
Stock Analytic

Fortis Global Healthcare enters Sri Lanka by ft.lk
March 5, 2011 @ 12:27 am
India and Singapore based Asia Pacific’s fastest growing healthcare provider buys minority 28.6% stake in Lanka Hospitals for Rs. 4 b

Fortis Global Healthcare Holdings Pte. Ltd, a company owned by Malvinder Mohan Singh and Shivinder Mohan Singh yesterday acquired 28.6% in Lanka Hospitals Corporation Ltd., (formerly Apollo Hospital) for Rs. 4 billion. This marks the entry of Fortis Global in one of Asia's fastest growing economies.
Fortis said the acquisition was in line with its vision of creating a Pan Asia healthcare platform and provides an access to one of the fastest growing economies in Asia.
Fortis’ latest acquisition, the fourth in five months, marks an important step in achieving the Singh family’s vision of creating a premier global healthcare group outside India. In the last four months, Fortis has acquired the largest private primary care company in Hong Kong, invested in the largest dental care company in Australia and announced the acquisition of a cancer speciality hospital project in Singapore.
Fortis Global Healthcare is spearheading the creation of a global integrated healthcare platform.
It intends to build and aggregate healthcare businesses and assets across all healthcare segments including diagnostics, primary care and hospitals. The objective is to create an integrated healthcare business, leveraging of synergies and scale, driven by quality medical professionals and infrastructure and providing patient-centric care and healing.
In addition to Fortis Global Healthcare, the family also owns a majority stake in the Indian-listed Fortis Healthcare Limited, a leading hospital chain in India.
Fortis Global Healthcare Executive Chairman Malvinder Mohan Singh said: “Lanka Hospitals is the first step for Fortis Global to build its healthcare business interest in one of the fastest growing economies in Asia. It is one of the most advanced and comprehensive healthcare facility in Sri Lanka. We believe there are tremendous opportunities for the hospital’s expansion and we will support the company’s management in realising such growth.”
The execution on the Colombo Stock Exchange was achieved and completed through Religare Capital Markets joint-venture with Bartleet Mallory Stockbrokers Ltd, Sri Lanka, also the sole financial advisor to Fortis on the transaction.
Fortis Global Healthcare Holdings Pte. Ltd is committed to providing premier patient-centric healthcare across Asia and Australia. Fortis Global Healthcare is owned by the family of Malvinder Mohan Singh and Shivinder Mohan Singh (the "Promoter Family"). Fortis Global Healthcare's vision is to become a premier global integrated healthcare provider, spanning the healthcare spectrum, from hospitals to diagnostics, primary care and other healthcare segments.
The Promoter Family is also the owner of a majority stake in Fortis Healthcare Limited, which is separately listed and is a leading hospital operator in India. The Fortis Healthcare network’s capability covers multi-speciality hospitals and super-speciality centres that provide tertiary and quaternary healthcare to patients in the major medical specialities in India.
Lanka Hospitals is a renowned tertiary care healthcare delivery provider and currently one of the largest hospital groups in Sri Lanka. The hospital speacialises in cardiology and cardiac surgery, neuro-sciences, orthopedics and complex urology/nephrology procedures. The 350 bed hospital is majority owned by Sri Lanka Insurance Corporation Ltd, a Government of Sri Lanka company.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

This 28.6% was formally belonged to DIST.
Currents Assets have increased, accumulated losses have come down about 28%, liabilities have increased
a by around 12%.
EPS for the quarter (as stated) was 0.47 that's a huge improvement of previous yr (2009) minus EPS 0f 0.06
for a loss making counter.
12 months stated EPS is 1.23 and compared with the last year its a good growth..

As per the last qtr report, major 20 share holders have 95.33% holding in which SLIC has over 54% holding (thru Life Fund & General Fund).
Therefore; I doubt the fact that issuing a mandatory offer is possible even if Fortis Global Healthcare acquires another
3% from market making it the highest percentage holder..However the price they've bought was 62/- so this may have a value to look at in short term ;-)

Director Board;
Mr. Gotabaya Rajapaksa - Chairman
Dr. Nalaka Godahewa - Director
Dr. S. S. L. Perera - Director
Dr. Ajith Amarasinghe - Director
Mr. Asoka Nissanka Pathirane - Director
Mag.Gen. (Dr.) Sanjeewa Heman Munasinghe - Director
Prof. Dayasiri Fernando - Director
Mr. A.M.M de Alwis - Director
Dr.T.R.C Ruberu - Director
Mrs. R.S Cabraal - Director
Dr.G W K Wickramasinghe - Director
Mr. P. Lionel - Director

Senior Management
Mr. Lakith Peiris - Chief Executive Officer

Not sure though, if anyone can clarify if it can be possible?



Last edited by smallville on Sat Mar 05, 2011 9:16 am; edited 1 time in total

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

I think for sometimes they will keep this quantity without touching 30% mark

Fresher


Moderator
Moderator

Gaja wrote:I think for sometimes they will keep this quantity without touching 30% mark

well, say they wait and the price inclines. When they acquire some more then they'll have to offer a higher price than 62.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

npp wrote:
Gaja wrote:I think for sometimes they will keep this quantity without touching 30% mark

well, say they wait and the price inclines. When they acquire some more then they'll have to offer a higher price than 62.

If they waited for more than one year

undervalued

undervalued
Stock Analytic
Stock Analytic

Gaja wrote:
npp wrote:
Gaja wrote:I think for sometimes they will keep this quantity without touching 30% mark

well, say they wait and the price inclines. When they acquire some more then they'll have to offer a higher price than 62.

If they waited for more than one year

I'm sure their goal will be to get the rest 1.4% of the shares to make it 30% as they have been investing healthcare sector in India, Australia, Hong Kong , Singapore & here in Sri lanka.


Under Sri Lankan rules, acquisition of 30 per cent of the voting rights will trigger an open offer for the balance shares. The current investment is the fourth for Fortis Global in five months. It had acquired the largest private primary care company in Hong Kong, invested in the largest dental care company in Australia and announced the acquisition of a cancer speciality hospital project in Singapore during this period.

Source-Times of India & http://www.business-standard.com

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

undervalued wrote:
Gaja wrote:
npp wrote:
Gaja wrote:I think for sometimes they will keep this quantity without touching 30% mark

well, say they wait and the price inclines. When they acquire some more then they'll have to offer a higher price than 62.

If they waited for more than one year

I'm sure their goal will be to get the rest 1.4% of the shares to make it 30% as they have been investing healthcare sector in India, Australia, Hong Kong , Singapore & here in Sri lanka.


Under Sri Lankan rules, acquisition of 30 per cent of the voting rights will trigger an open offer for the balance shares. The current investment is the fourth for Fortis Global in five months. It had acquired the largest private primary care company in Hong Kong, invested in the largest dental care company in Australia and announced the acquisition of a cancer speciality hospital project in Singapore during this period.

Source-Times of India & http://www.business-standard.com

What is the difference between keeping the 28% or 30%, i don't see any difference, yes may pass the 30% if they can get the controlling interest for that they need at least another 22 to 23 % holding, this will possible only if the Government agreed to sell part of their holding Because as of 31.12.2010 Govt hold more than 64.13% in LHCL, yesterday these people bought 28.66% from DIST. So unless govt agrees they cant take the controlling interest since that keep 28.66% or 30% not going to make any difference, since they control more than 25%, because some decision need 75% voting approval

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Good for the DIST shares

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