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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » CIFL and Twod ( Mr.Meloney ) deal

CIFL and Twod ( Mr.Meloney ) deal

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21CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Mon Apr 29, 2013 9:44 pm

Hawk Eye


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The reasons why I am confident that this should move up.

The explanation letter to the CSE by CIFL chairman on the 2 April 2013 regarding the clarification made on news paper article clearly states in its first point

-........Mr.Roscoe Meloney,that they have concluded the acquisition of our holding Company Aspic Corporation along with its 9 subsidiary companies..

If Lakshman Rupasinghe has given false information to the CSE,to mislead public then this is a very serious issue.

Now its almost a month from the original clarification sought by CSE.dont know how long will it take ? and why?

if its true.... then someones trying to collect it at bottom prices before the offical announcement comming to market. If its a related party , then again it becomes dealing on insider information..So may be some arrangements going on to avoid this..and can doubt the reason for the delay in announcement

If its false.. then SEC should take stern action against Mr.Lakshman Rupasinghe for misleading, and giving false information

Lets see where are we going to end up.

22CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Tue Apr 30, 2013 9:26 am

Hawk Eye


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Hawk Eye wrote:The reasons why I am confident that this should move up.

The explanation letter to the CSE by CIFL chairman on the 2 April 2013 regarding the clarification made on news paper article clearly states in its first point

-........Mr.Roscoe Meloney,that they have concluded the acquisition of our holding Company Aspic Corporation along with its 9 subsidiary companies..

If Lakshman Rupasinghe has given false information to the CSE,to mislead public then this is a very serious issue.

Now its almost a month from the original clarification sought by CSE.dont know how long will it take ? and why?

if its true.... then someones trying to collect it at bottom prices before the offical announcement comming to market. If its a related party , then again it becomes dealing on insider information..So may be some arrangements going on to avoid this..and can doubt the reason for the delay in announcement

If its false.. then SEC should take stern action against Mr.Lakshman Rupasinghe for misleading, and giving false information

Lets see where are we going to end up.


How many of you all noted foreign purchase in CIFL yesterday? (But small quantity)

23CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Tue May 07, 2013 7:02 pm

Aubrey Perera


Vice President - Equity Analytics
Vice President - Equity Analytics
yes i agree ....as posted earlier. twod may have really purchased aspic....if they didn't they would have come out with a statement....no clarification from central bank as well. which means they must be finalising the deal and announcement should be out any time. if not how does one explain the number of trades on these two , unless pump and dump , but pump and dump usually happens with no no basis what so ever.

someone/brokers must try to collect before the official announcement. lets see how this drama turns out.

Even VONE days before Dammika bought Cera I stated in my earlier post that someone/brokers were trying to keep vone down artificially buy placing huge sell orders periodically, it worked for them as vone has gone up nicely. maybe the same thing with CIFL/Twod.

Vone has done good for me Smile

24CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Mon May 13, 2013 9:56 am

Hawk Eye


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Hawk Eye wrote:The reasons why I am confident that this should move up.

The explanation letter to the CSE by CIFL chairman on the 2 April 2013 regarding the clarification made on news paper article clearly states in its first point

-........Mr.Roscoe Meloney,that they have concluded the acquisition of our holding Company Aspic Corporation along with its 9 subsidiary companies..

If Lakshman Rupasinghe has given false information to the CSE,to mislead public then this is a very serious issue.

Now its almost a month from the original clarification sought by CSE.dont know how long will it take ? and why?

if its true.... then someones trying to collect it at bottom prices before the offical announcement comming to market. If its a related party , then again it becomes dealing on insider information..So may be some arrangements going on to avoid this..and can doubt the reason for the delay in announcement

If its false.. then SEC should take stern action against Mr.Lakshman Rupasinghe for misleading, and giving false information

Lets see where are we going to end up.



Whats next to happen??

25CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Mon May 13, 2013 10:21 pm

ONTHEMONEY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Based on today's announcement over appointment of R Meloney as the new Chairman of CIFL;it is confirmed that CB and SEC has granted its approval over cash infusion of $ 12.0Mn to the company.

Company has made a wrong judgement in investing in long term project(property development project in Homagama-a JV with Aspic Group) with its assets. (36% of the balance sheet capital invested in Housing project with JV).Investment is Rs 1.5Bn($ 12.0Mn).

Basically CIFL has deposits for short and medium term.(deposits as 31/12/12 Rs 2.9Bn)Apart from above investment, balance they have advances in leases,HP and loans. Hence a deposit maturity mismatch against cash flow caused because JV

However it obvious that property developments is high return investment but medium to long term it generates cash. Therefore delay in cash flow would cause inability to repay depositors funds. However as per 31/12/12 following is disclosed;

Total outstanding in Housing project = Rs 1.5Bn
Interest receivable in Housing project = Rs 373Mn
CIFL loss for 9 months = Rs 147.8mn
Net Asset Value = Rs 6.67

Therefore above justify why company is in this state.

Company is not in a situation to go for Right Issue with current share price to generate capital. With infusion of $ 12.0Mn by R Meloney into CIFL the longer term investment in Housing project ($ 12.0Mn) will be financed. Therefore company will have its depositors funds to continue its operations.

As a well established business in the finance industry the firm will rebound in time to come with overall economic growth attached with low lending rates prevailing. Just like Seylan bank. There are many finance company's worse than CIFL if we closely look in BS.

CIFL have higher possibilities reaching more than Rs 6/- within next 12 months. So advice is not to look in to day trading or very short term period. CIFL have valuable assets and which generates cash. We have to be patient for a minimum of 1 year to have a guaranteed return of more than 250%.

26CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Tue May 14, 2013 9:13 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Few things to note..

TWOD has appointed eChannelling Plc Chairman and CEO Ruwan Silva with immediate effect to be the Principal Consultant and Advisor to the Board of Directors. He's to advice the board of the acquisitions and mergers.

Why did Touchwood controlling party (Malony) agree to infuse money into a troubled finance company like CIFL when their own venture was under distress?

Yes in a way its cheating, on the other hand, being there as directors, Malonies must have due-diligence to inform the public. Therefore, Malonies are neglecting social responsibility as well.

Take higher precautions on any investment decisions on the companies that they're directors. We never know their agendas.

27CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Tue May 14, 2013 9:16 am

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
when all are seeing something as a big problem, entrepreneurs see some opportunity within that problem. when all are leaving some see there are some big opportunities there. This was my experience I can remember that one time reef was at 6-7 RS in market it was dumped into the market 4-5 Rs but all were scared to buy it I bought big quantity and ultimately DJ bought it and share went to 20RS. however exited gradually and last few thousand I sold high as 16RS. who knows what will happen.

28CIFL and Twod ( Mr.Meloney ) deal - Page 2 Empty Re: CIFL and Twod ( Mr.Meloney ) deal Tue May 14, 2013 1:44 pm

Aubrey Perera


Vice President - Equity Analytics
Vice President - Equity Analytics
cse guide you have a point. we don't know for sure but there are many un answered questions. why is twod and cifl holding strong as well ? after seeing the DFT article these two stocks should have crashed a bit. I'm thinking another announcement will come out answering all the questions.

Could it be that there is a strategic investor who has come in to bail twod? will they use the synergies available with CIFL to introduce new payment schemes to purchase twod plots ? where did maloney get the money to buy CIFL without firstly stabilizing TWOD?

Will CIFL and Twod operate as separate entities ? or will they be inter connected.

Interesting outcomes lets see how things move. I think if everyone had lost complete faith in CIFL and TWOD by now the share shares should be in the dust bin ....they seem to be holding on ...WHY ?


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