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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » REEF hotel number 4 is comming soon - Passikudah beach resorts Ltd

REEF hotel number 4 is comming soon - Passikudah beach resorts Ltd

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sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@hasi17 wrote:Hmm, is GREG and REEF the same company? Smile
thanks god. Now you got it right. So don't invest on GREG, Passikudah or REEF

22REEF hotel number 4 is comming soon - Passikudah beach resorts Ltd - Page 2 Empty REEF is a crap share Sun Jan 22, 2012 2:00 pm

market bull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
What i feel,Your original post was to talk about REEF N not for Reef W 18.However 932 M is a significant amount when comparing with their yearly turnover 104M(10/11),6.2M for six months ended 30/09/11.

As per my calculation,Booked capital gain roughly as follows

REEF have transferred 20M shares to their subsidiary Kalpitiya Beach at 40(Original cost around 20)

Booked capital gain around 400M.

Kalpitiya having 40M shares at average cost 30=1200M

70% should go to REEF=840M

You all know CLND is a speculative & Bullshit share.Now only to play the drama.They will push the price,once they have released sep-Dec accounts & annual accounts.This is only for short term. REFF group play with Indexes & finally all investors have to suffer. Reff,CLND all should come to their fair price.For me CLND not worth 15/=

REFF EPS for 6 month negative(1.78)
Share Capital 932M.With this capital gain also they can go to 1-1.5 Eps(REff price now 44)

I dont think they can achieve EPS 1 from their real business even in next 5 years.

REFF 10/11 Revenue=104M
11/12 Six months revenue=6m

Unfortunately If CLND share falls down to 20L(High speculative share,NAPS 17+,EPS 0.10 check the accounts). They have to reverse the whole profit in coming years.still 40M shares in Reff group. Other thing is if they have sold 20M shares to outsiders( without transfer to Kalpitiya) CLND price would have fallen down drastically.No body even mad person do not buy CLND at 40.

Dont promote this share,this is a pure speculative & CRAP share.

@sapumal wrote:Sorry. CLND gain might be not correct. This section was grabbed from my recent post " continues interest on W18)

@hasi17 wrote:
Of course hotel business is in high demand at the moment. No question. If I collect money from generous public who would gladly offer me money I would also build a hotel. For the major share holders there is no question. They're the owners.
Who is the major share holder ? Can't you be the part of a major share holder ?
Who asked you to put money on Passikudah ?

@hasi17 wrote: Other than for trading in rallies in the counter this is not a investor friendly family of shares. They're trading shares.
If you had the share when they bought it @45 still you are in big profit
your cost = 45+2*25(right) + 2*30 (W17)= 155
revenue = 18*2 (W18)+ 15*4 (W19) + 44 * 5 = 300+ (within 1 and half year)

Net Asset value of the company were @17. Now it is @30



market bull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Kalpitiya capital gain should be =(50-30*40)=800m not 1200M

70% of 800M =560M

Total impact 900+

[quote="market bull"]
REEF have transferred 20M shares to their subsidiary Kalpitiya Beach at 40(Original cost around 20)

Booked capital gain around 400M.

Kalpitiya having 40M shares at average cost 30=1200M

70% should go to REEF=840M

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@market bull wrote: You all know CLND is a speculative & Bullshit share.For me CLND not worth 15/=
That's for you. Did you count the legally possessed 9 Acre land to your balance sheet ? What is the price per perch of your calculation ? Shangri la paid 8.5Mn per perch.

@market bull wrote: REFF EPS for 6 month negative(1.78)
Ok, don't bring that fact. Hotel was closed during last 9 months. Even I didn't bring the fact that group had recorded EPS = 7 rupee for last year. It was one time gain

@market bull wrote: I dont think they can achieve EPS 1 from their real business even in next 5 years.
Did you read the top part of this conversation ??????? Did you read the Pros of Kalpitiya, Waskaduwa, PP of Hikkaduwa ????? Actually do you have any analysis about REEF ?????

Compare the balance sheet and Hikkaduwa new sub document . If you are smart , you will find 72Mn capital gain. If PP get 100% success it will record another 109Mn gain. Listing Kal they had 79Mn gain. Listing Was they had 22Mn gain. All of these profits (280Mn) are for this year. LOL


@sapumal wrote:
When we are talking about profits, REEF expect 3% fees from Rev and 2% of Gross profit. They expect about 50Mn annual management fees each from Kal , Was ( refer expected income statement). They will expect 250Mn from extra 600 hotel rooms + Hikkaduwa

market bull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hope that you are talking about their Investment property.CLND NAPS is 16.69 including that.

EPS=0.093
Current PE: 537

Do you agree with me above figures regarding to CLND.Thats what i mentioned that it should come to at least its fair level.

In which year REFF group had achieved EPS=7. Their EPS was 0.46 for 2010/11,0.05 for 09/10.What do you mean that it was one time.Please dont be a person like our well known GREG promoter.

REFF PER comparing to lat year eps=97,you are in a day dream to see the REEF PER around 200-300L
All know that who has pushed the CLND price. See what happened to EAST. How you guarantee that same thing cant be happened to speculative share like CLND.

Imagine what happened to Ceylinco group.They were very expert to transfer management fee from one company to another company.

*****PER of all speculative shares should be corrected to at least their fair level. Then only all people will be benefited.

Dont promote REEF again again without reasonable facts.REEF is a crap.


@sapumal wrote:
@market bull wrote: You all know CLND is a speculative & Bullshit share.For me CLND not worth 15/=
That's for you. Did you count the legally possessed 9 Acre land to your balance sheet ? What is the price per perch of your calculation ? Shangri la paid 8.5Mn per perch.

@market bull wrote: REFF EPS for 6 month negative(1.78)
Ok, don't bring that fact. Hotel was closed during last 9 months. Even I didn't bring the fact that group had recorded EPS = 7 rupee for last year. It was one time gain

@market bull wrote: I dont think they can achieve EPS 1 from their real business even in next 5 years.
Did you read the top part of this conversation ??????? Did you read the Pros of Kalpitiya, Waskaduwa, PP of Hikkaduwa ????? Actually do you have any analysis about REEF ?????

Compare the balance sheet and Hikkaduwa new sub document . If you are smart , you will find 72Mn capital gain. If PP get 100% success it will record another 109Mn gain. Listing Kal they had 79Mn gain. Listing Was they had 22Mn gain. All of these profits (280Mn) are for this year. LOL


@sapumal wrote:
When we are talking about profits, REEF expect 3% fees from Rev and 2% of Gross profit. They expect about 50Mn annual management fees each from Kal , Was ( refer expected income statement). They will expect 250Mn from extra 600 hotel rooms + Hikkaduwa

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
So REEF is another GREG. Owners collecting the money from the Sri Lankan investors and building their wealth. Some people just making some money trading in the sidelines.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
Market Bull,
Please read the CLND Annual report and try to figure out about a 9 acre land. That land is still on @1982 valuation.

We have discussed about REEF EPS long time ago.
http://forum.srilankaequity.com/t1561-cse-announcement-about-reef-reef-350mn-capital-gain?highlight=reef
Can you clarify me how NAV jumped from 22 to 30 during 2011 March ended quarter ?

@market bull wrote:
Dont promote REEF again again without reasonable facts.REEF is a crap.
For every of my posts I have facts. Which one was missing ?
I haven't asked any one to buy REEF. If I observed anything on REEF I have posted it on forum. In which of my post I have asked to buy REEF or in which of my post I have given wrong facts ????
When facts are true it is not called as promotion. It is the reality.

You don't have any inside knowledge, but blaming others like a person who has 100% knowledge about REEF. Please don't comments without analyzing things. Income statement and balance sheet are only two sheets. You don't get 100% only referring that 2

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
OK. Now we can see there are two factions.

People of one faction say REEF is going to become a real good Hotel Chain in SL and will give rich dividends to the early birds.

Others say it is a crap like GREG and major shareholders are not trustworthy.

What I can say is REEF was not following good manners (we normally expect) at the initial stages of its re-formation. We had some questions about its acquisitions , warrants, unexpected decisions, deals supported by Big Big people ... etc.

At the moment I feel it is establishing its position in the leisure sector due to its aggressive actions we criticized in the past. I think we also try to reap from this new culture.
Hence for REEF, I do not take its current EPS or past performances into consideration.
As per the plans they will have 10 times of rooms than now after few years.

I think, yes, there is a big risk to take at the moment but it is worthwhile.

Hence, I am in the same group of W19 lowers, with our new co-Admin Smallville ( congrats!) , collecting W19.

I can enjoy a huge return or/and become a proud holder of shares of a top class hotel chain if succeeded. I know there is also a risk of loosing my money.
I can take that risk because I am not putting my hard earned money.
I have some money generated at CSE last 2 years by taking similar types of risks. I even sell some other shares to buy W19. Foolish ? Have to wait few more years to learn it.

P.s. -related fact-
To double our tourist arrivals per year we need just 2% of traffic shift from Far East . ( Thailand + Malaysia got 40 million arrivals 2011 while we touch 1 million)





Last edited by Chinwi on Mon Jan 23, 2012 3:09 pm; edited 1 time in total (Reason for editing : spelling)

market bull

market bull
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I saw that you have started another topic for REFF group. Actually i was busy with some other works & no time to analyze the REFF Accounts. However if you were trying to evaluate my knowledge on accounts,please let me know.I will stop some work & give the priority to you.

For me REFF is a crap....

@sapumal wrote:Market Bull,
Please read the CLND Annual report and try to figure out about a 9 acre land. That land is still on @1982 valuation.

We have discussed about REEF EPS long time ago.
http://forum.srilankaequity.com/t1561-cse-announcement-about-reef-reef-350mn-capital-gain?highlight=reef
Can you clarify me how NAV jumped from 22 to 30 during 2011 March ended quarter ?

@market bull wrote:
Dont promote REEF again again without reasonable facts.REEF is a crap.
For every of my posts I have facts. Which one was missing ?
I haven't asked any one to buy REEF. If I observed anything on REEF I have posted it on forum. In which of my post I have asked to buy REEF or in which of my post I have given wrong facts ????
When facts are true it is not called as promotion. It is the reality.

You don't have any inside knowledge, but blaming others like a person who has 100% knowledge about REEF. Please don't comments without analyzing things. Income statement and balance sheet are only two sheets. You don't get 100% only referring that 2

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@market bull wrote:I saw that you have started another topic for REFF group. Actually i was busy with some other works & no time to analyze the REFF Accounts. However if you were trying to evaluate my knowledge on accounts,please let me know.I will stop some work & give the priority to you.

For me REFF is a crap....

Thanks for your kindness. I don't need your help. I have knowledge on accounts.

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