16-Aug-2012 Dividend Announcement - COCR

COMMERCIAL CREDIT AND FINANCE PLC
Company ID: - COCR
Date of Announcement: - 16.Aug.2012
Rate of Dividend: - Rs. 1.00 per share / First & Final Dividend
Financial Year: - 2011/2012
Shareholder Approval: - Required
AGM: - 21.Sep.2012
XD: - 24.Sep.2012
Payment: - 02.Oct.2012
Share Transfer Book Open

I was think that they might pay a slightly better Dividend to make things attractive. But they need to expand also. Presently I do not hold this share.

The growth they reported in last Q or the year is one of the highest in CSE. And the people who around Nugegoda saw the promotion they did. Same at Maharagama. They expand heavily with a good customer service and fixed deposit collectors.

one of my colleague who had direct contact with them said they are crazy since their mgt want to become another JKH with in 3 years which is quite awkward. but they came up with a share option scheme and a strategic plane which is not 100% realistic.

I dont know y they gave such a huge dividend at this stage without expanding. Can they do both ?
Another person who was an auditor told me they are very confident and competent in the micro financing. And they have good talented staff who are led by a good manager.

So there is a clear possibility that we can see another good well balanced company within next couple of years. But small companies are always at a huge risk. I have few 1000s of this share at the movement. My personal feeling that we want be able to see this share at 14 level again. Waiting for the next financials from COCR.

It is too early to predict the future ..................

Thanks

During the initial stages of operation, the Company was mainly focused on lending to the Agricultural sector with this sector accounting for over 50% of the lending portfolio. While operating in 16 locations throughout the island, the traditional agricultural regions such as Anuradhapura and Dehiattakandiya accounted for the bulk of the Company's business.

During the initial years Commercial Credit focused heavily on inculcating a strong Process and System driven culture. This focus has paid off strongly, resulting in the development of a state-of-the-art Management Information System (MIS). The system's efficiency has enabled leaner management and greater efficiency, a cornerstone of the company's success through the years. The Process driven culture also enabled the Company to obtain ISO 9001:2008 in October 2006 for enhanced quality management compliance.

A change of management in October 2009 marked a new era in Commercial Credit's history, with the Company's reins being taken over by a visionary corporate strategist, Mr.Roshan Egodage. Under his guidance, the implementation of a focused corporate strategy, including a new corporate image, new and innovative products, modern infrastructure and pioneering employment empowerment, has yielded outstanding results.

The driving force behind Commercial Credit's astronomical success to date is the Company's dedicated workforce, drawn from the cream of the industry's talent pool. Commercial Credit's culture of liberalization and empowerment has enabled the team to overachieve in terms of industry norms. The loyalty and commitment of the team members have been a pivotal factor in its success story.

Since 2009 the Company has achieved record-breaking growth in all areas of operation. Since late 2009, the Company's growth has more than tripled in every sector. Commercial Credit currently enjoys one of the best NPL and Cost to Income ratios in the industry, as well as achieving the highest profit increase in the finance industry. The Company was judged the Best Finance Company at the prestigious international UDC Business Awards 2011 in Malaysia.

Many innovative and trail-blazing products such as motor credit, micro finance, lease vehicle,Commercial Credit cash, land finance, etc. have enabled the company to serve an increasingly diverse over 300,000 strong customer base, at over 40 locations across the country. Upgraded branch facilities and cutting-edge marketing strategies continue to garner the Company a rapidly expanding and loyal client network.

The implementation of a forward thinking Strategic Plan aimed at further boosting growth and profitability is cementing the Company's reputation as in industry leader, propelling Commercial Credit to a well-deserved position among the country's top finance companies.

Harnessing the best of the industry's talent and experience together with a dedication to offering the highest performing financial solutions, Commercial Credit's goal is to create and empower future leaders and uplift the livings standards of society at large.

Presuming you did not write it this quick ( joking) source please ?

ddindika wrote:During the initial stages of operation, the Company was mainly focused on lending to the Agricultural sector with this sector accounting for over 50% of the lending portfolio. While operating in 16 locations throughout the island, the traditional agricultural regions such as Anuradhapura and Dehiattakandiya accounted for the bulk of the Company's business.

During the initial years Commercial Credit focused heavily on inculcating a strong Process and System driven culture. This focus has paid off strongly, resulting in the development of a state-of-the-art Management Information System (MIS). The system's efficiency has enabled leaner management and greater efficiency, a cornerstone of the company's success through the years. The Process driven culture also enabled the Company to obtain ISO 9001:2008 in October 2006 for enhanced quality management compliance.

A change of management in October 2009 marked a new era in Commercial Credit's history, with the Company's reins being taken over by a visionary corporate strategist, Mr.Roshan Egodage. Under his guidance, the implementation of a focused corporate strategy, including a new corporate image, new and innovative products, modern infrastructure and pioneering employment empowerment, has yielded outstanding results.

The driving force behind Commercial Credit's astronomical success to date is the Company's dedicated workforce, drawn from the cream of the industry's talent pool. Commercial Credit's culture of liberalization and empowerment has enabled the team to overachieve in terms of industry norms. The loyalty and commitment of the team members have been a pivotal factor in its success story.

Since 2009 the Company has achieved record-breaking growth in all areas of operation. Since late 2009, the Company's growth has more than tripled in every sector. Commercial Credit currently enjoys one of the best NPL and Cost to Income ratios in the industry, as well as achieving the highest profit increase in the finance industry. The Company was judged the Best Finance Company at the prestigious international UDC Business Awards 2011 in Malaysia.

Many innovative and trail-blazing products such as motor credit, micro finance, lease vehicle,Commercial Credit cash, land finance, etc. have enabled the company to serve an increasingly diverse over 300,000 strong customer base, at over 40 locations across the country. Upgraded branch facilities and cutting-edge marketing strategies continue to garner the Company a rapidly expanding and loyal client network.

The implementation of a forward thinking Strategic Plan aimed at further boosting growth and profitability is cementing the Company's reputation as in industry leader, propelling Commercial Credit to a well-deserved position among the country's top finance companies.

Harnessing the best of the industry's talent and experience together with a dedication to offering the highest performing financial solutions, Commercial Credit's goal is to create and empower future leaders and uplift the livings standards of society at large.

http://www.cclk.lk/history.php