CFVF - First Capital

sandunj · 21 Re: CFVF - First Capital Sat May 11, 2013 10:52 am

sandunj

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For Investment purpose there are lot of good shares than CFVF. True I dont no anything about CFVF. Anyway for shortterm trading may be it will be good but I have never touch this before... just my feeling cheers

Chinwi · 22 Re: CFVF - First Capital Sat May 11, 2013 12:34 pm

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@malanp wrote:Last Qtr EPS 79 cents,
9 months EPS 1.84 (annual 2.50)

trading at 6 PER. 15/2.50
looks average company, problem is much uncertainty
the dark side is Short term investments 11b and 1% of its drop in value will erase half of annual profit.

EPS = History

To know about the future we have to do many kinds of explorations

Chinwi · 23 Re: CFVF - First Capital Sat May 11, 2013 12:39 pm

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@sandunj wrote:For Investment purpose there are lot of good shares than CFVF.

True I dont no anything about CFVF.

contradicted. If you do not know anything about something how can you compare it and say .... ..... ....
.
.
BTW, yes there are many good shares than CFVF . Smile

seek · 24 Re: CFVF - First Capital Sat May 11, 2013 1:56 pm

seek

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@malanp, you are talking about 1% drop when intrest rates are declining and equities are appriciating. Actally their investments should be 2-3% up now.

The Alchemist · 25 Re: CFVF - First Capital Sat May 11, 2013 2:35 pm

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@Chinwi wrote:

@malanp wrote:Last Qtr EPS 79 cents,
9 months EPS 1.84 (annual 2.50)

trading at 6 PER. 15/2.50
looks average company, problem is much uncertainty
the dark side is Short term investments 11b and 1% of its drop in value will erase half of annual profit.

EPS = History

To know about the future we have to do many kinds of explorations

Ha Ha well said Chinwi ! Smile

Let me be the first to congratulate you on your 1000 posts. well done and keep it up !
Talking about explorations, it is similiar to oil explorations. if we pretend each well is one quarter, then sometimes first three wells may seem dry, no ? but in 4th or 5th well, you may strike oil !
Not much time left to do seismic studies now !

Bond · 26 Re: CFVF - First Capital Sat May 11, 2013 3:31 pm

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@The Alchemist wrote:

@Chinwi wrote:

@malanp wrote:Last Qtr EPS 79 cents,
9 months EPS 1.84 (annual 2.50)

trading at 6 PER. 15/2.50
looks average company, problem is much uncertainty
the dark side is Short term investments 11b and 1% of its drop in value will erase half of annual profit.

EPS = History

To know about the future we have to do many kinds of explorations

Ha Ha well said Chinwi !
Let me be the first to congratulate you on your 1000 posts. well done and keep it up !
Talking about explorations, it is similiar to oil explorations. if we pretend each well is one quarter, then sometimes first three wells may seem dry, no ? but in 4th or 5th well, you may strike oil !
Not much time left to do seismic studies now !

Dreaming of a 5th quarter Wink

In all seriousness the business model is driven by the difference between the repo and reverse repo. As a rough guide 65% of assets are in govt securities. 85% of this (i.e. 66%*85%) is in reverse repo.

But I'm still puzzled how they can play around with this for too long. scratch

For example put 5b in overnight repo 10%
Borrow 4.5b by pledging the above - reverse repo. Use the 4.5b borrowed funds to buy more govt bonds.

Now pray that interest rates drop to 8%. The price increase in bonds should should settle debt and make a profit. As the RAMS report puts it, when the interest rates increase by 100bps (1%) the sh!t hits the fans.

Perhaps @Chinwi and @Alchemist could care to explain further

malanp · 27 Re: CFVF - First Capital Sat May 11, 2013 5:42 pm

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@The Alchemist wrote:

@Chinwi wrote:

@malanp wrote:Last Qtr EPS 79 cents,
9 months EPS 1.84 (annual 2.50)

trading at 6 PER. 15/2.50
looks average company, problem is much uncertainty
the dark side is Short term investments 11b and 1% of its drop in value will erase half of annual profit.

EPS = History

To know about the future we have to do many kinds of explorations

Ha Ha well said Chinwi !
Let me be the first to congratulate you on your 1000 posts. well done and keep it up !
Talking about explorations, it is similiar to oil explorations. if we pretend each well is one quarter, then sometimes first three wells may seem dry, no ? but in 4th or 5th well, you may strike oil !
Not much time left to do seismic studies now !

Keep on exploring untill you finish all your money.

In CSE no time to dig empty wells , by the time you find the right share, nothing left with you, losses and brokers all have taken your money.

So try to find oil in the first well itself, otherwise no second chance...

Backstage · 28 Re: CFVF - First Capital Sat May 11, 2013 6:40 pm

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@malanp wrote:

@The Alchemist wrote:

@Chinwi wrote:

@malanp wrote:Last Qtr EPS 79 cents,
9 months EPS 1.84 (annual 2.50)

trading at 6 PER. 15/2.50
looks average company, problem is much uncertainty
the dark side is Short term investments 11b and 1% of its drop in value will erase half of annual profit.

EPS = History

To know about the future we have to do many kinds of explorations

Ha Ha well said Chinwi !
Let me be the first to congratulate you on your 1000 posts. well done and keep it up !
Talking about explorations, it is similiar to oil explorations. if we pretend each well is one quarter, then sometimes first three wells may seem dry, no ? but in 4th or 5th well, you may strike oil !
Not much time left to do seismic studies now !

Keep on exploring untill you finish all your money.

In CSE no time to dig empty wells , by the time you find the right share, nothing left with you, losses and brokers all have taken your money.

So try to find oil in the first well itself, otherwise no second chance...

Not an issue for those able to read the seismic data. cyclops

Chinwi · 29 Re: CFVF - First Capital Sun May 12, 2013 7:09 am

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@backstage wrote: Not an issue for those able to read the seismic data.

When Ocean retreats exposing the sea surface people run there to view the rare sight and collect many items as possible. Some people demarcate the new land area they occupy and take all steps to protect it from the 'intruders' .

Those who able to read the seismic data , as backstage said, know what next .

Usually they leave the area before the big wave hit the beach - or leave the room before the electrons reach the fan coil. Wink

anu · 30 Re: CFVF - First Capital Sun May 12, 2013 7:25 am

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@Chinwi wrote:
Usually they leave the area before the big wave hit the beach - or leave the room before the electrons reach the fan coil.

I remember when this share was trading around 15, they announced a dividend of 15. (may be in 2010) The share hit Rs100. Then they announced a 3 for one split. when the share again came to old levels after the dividend and split, there could have been many who could not understand what hit them...

Quite a tsunamic stock for seismic readers....

KDDND · 31 Re: CFVF - First Capital Sun May 12, 2013 1:11 pm

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hv a look on

http://markets.ft.com/research/Markets/Tearsheets/Financials?s=CFVF.N0000:CSE

Good Luck!

The Alchemist · 32 Re: CFVF - First Capital Sun May 12, 2013 1:17 pm

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@KDDND wrote:hv a look on

http://markets.ft.com/research/Markets/Tearsheets/Financials?s=CFVF.N0000:CSE

Good Luck!

Outdated - Info as at 31st March 2012.
In the business they are in, the situ changes rapidly and depends on the movement of interest rates.
One year is like a lifetime !

Bond · 33 Re: CFVF - First Capital Sun May 12, 2013 1:23 pm

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@The Alchemist wrote:

@KDDND wrote:hv a look on

http://markets.ft.com/research/Markets/Tearsheets/Financials?s=CFVF.N0000:CSE

Good Luck!

Outdated - Info as at 31st March 2012.
In the business they are in, the situ changes rapidly and depends on the movement of interest rates.
One year is like a lifetime !

@Alc what happened? I'm still confused. A drop of 1% and an expensive 500m capital raising.

Did they make an extraordinary gain on a recent sale?

The Alchemist · 34 Re: CFVF - First Capital Sun May 12, 2013 1:29 pm

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@Bond wrote:

@The Alchemist wrote:

@KDDND wrote:hv a look on

http://markets.ft.com/research/Markets/Tearsheets/Financials?s=CFVF.N0000:CSE

Good Luck!

Outdated - Info as at 31st March 2012.
In the business they are in, the situ changes rapidly and depends on the movement of interest rates.
One year is like a lifetime !

@Alc what happened? I'm still confused. A drop of 1% and an expensive 500m capital raising.

Did they make an extraordinary gain on a recent sale?

Bond - I'm not sure i understand your question. best you refer 31st Dec 2012 statement. remember they gave a Rs 500 million dividend in 2009/2010 - i think.

Bond · 35 Re: CFVF - First Capital Sun May 12, 2013 1:36 pm

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@The Alchemist wrote:

@Bond wrote:

@The Alchemist wrote:

@KDDND wrote:hv a look on

http://markets.ft.com/research/Markets/Tearsheets/Financials?s=CFVF.N0000:CSE

Good Luck!

Outdated - Info as at 31st March 2012.
In the business they are in, the situ changes rapidly and depends on the movement of interest rates.
One year is like a lifetime !

@Alc what happened? I'm still confused. A drop of 1% and an expensive 500m capital raising.

Did they make an extraordinary gain on a recent sale?

Bond - I'm not sure i understand your question. best you refer 31st Dec 2012 statement. remember they gave a Rs 500 million dividend in 2009/2010 - i think.

i thought they raised capital 500m

http://www.lankabusinessonline.com/news/Sri_Lankas_First_Capital_Holdings_rated_BBB+_by_RAM/1446355925

anyway why so bullish?

wappula · 36 Re: CFVF - First Capital Sun May 12, 2013 2:48 pm

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Keep on exploring untill you finish all your money.

In CSE no time to dig empty wells , by the time you find the right share, nothing left with you, losses and brokers all have taken your money.

So try to find oil in the first well itself, otherwise no second chance...

supiri kiyamanak maru....

Last edited by Chinwi on Sun May 12, 2013 4:26 pm; edited 1 time in total (Reason for editing : formatting)

Chinwi · 37 Re: CFVF - First Capital Sun May 12, 2013 3:31 pm

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To new readers,

Hear, we exchanged different views considering different possibilities.
Do not take we promote or demote this share.
I really do not know current inside info of this company and this is like ILS landing.
Using some indicators we predict nice landing without seeing the runway .
Anything can happen.

---
Note: Although I have positive expectations, CFVF is still 10% of my portfolio.

seek · 38 Re: CFVF - First Capital Sun May 12, 2013 4:20 pm

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As Chinwi said this is a fundementally sound risky share. The risk is with the business model not in hands of few manupulators. Recently they have taken few measures to mitigate the risk. Appointing a dedicated risk manager and an experianced CEO are some of them. The CEO has already tasted the hot cake already bought 300000 peices. This is a cyclicle business and always try keep enough margin to apply breaks and get out. I think I am in safe side.

celtic tiger · 39 Re: CFVF - First Capital Sun May 12, 2013 7:01 pm

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I bought CSEC at 11.5 because of CFVF's up trend.Is it safer than CFVF??

seek · 40 Re: CFVF - First Capital Wed May 15, 2013 8:28 am

seek

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@Bond wrote:

@Chinwi wrote:Just to mention, CSEC owns 70% of CFVF .

Today, with the news of rates adjustments, CFVF touched 16.50, a new 52Week record and later settler around 15.50

It's parent Dunamis Capital PLC (CSEC.N0000) closed at 13.20, 12.58% below its 52-week high

Do you know the story of Next Ventures Ltd? Is it now Schafter controlled?
Also noticed the stakes in CSEC and CFVF by Janashakthi Ltd - bought on margin. Margin pledging which shares

The major shareholder of CSEC is NextVentures Limited. It holds nearly 21% of CSEC shares through a margin account provided by First Capital Market Ltd, which is a subsidiary of CFVF.

NextVentures Limited is an affiliated company of First Capital Limited. First Capital Limited is a subsidiary of First Capital Holdings PLC (CFVF).

Note 9 (Page 6) of CFVF quarter report 31.12.2012.
"Disclosures in relation to related party transactions in accordance with the Continuing Listing Requirements of the Colombo Stock Exchange

Nextventures Limited (an affiliated company of First Capital Limited) settled a short term borrowing facility
obtained from First Capital Limited amounting to Rs.325 Mn on 31 December 2012.”

econ · 41 Re: CFVF - First Capital Wed May 15, 2013 11:53 am

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@seek wrote:

@Bond wrote:

@Chinwi wrote:Just to mention, CSEC owns 70% of CFVF .

Today, with the news of rates adjustments, CFVF touched 16.50, a new 52Week record and later settler around 15.50

It's parent Dunamis Capital PLC (CSEC.N0000) closed at 13.20, 12.58% below its 52-week high

Do you know the story of Next Ventures Ltd? Is it now Schafter controlled?
Also noticed the stakes in CSEC and CFVF by Janashakthi Ltd - bought on margin. Margin pledging which shares

The major shareholder of CSEC is NextVentures Limited. It holds nearly 21% of CSEC shares through a margin account provided by First Capital Market Ltd, which is a subsidiary of CFVF.

NextVentures Limited is an affiliated company of First Capital Limited. First Capital Limited is a subsidiary of First Capital Holdings PLC (CFVF).

Note 9 (Page 6) of CFVF quarter report 31.12.2012.
"Disclosures in relation to related party transactions in accordance with the Continuing Listing Requirements of the Colombo Stock Exchange

Nextventures Limited (an affiliated company of First Capital Limited) settled a short term borrowing facility
obtained from First Capital Limited amounting to Rs.325 Mn on 31 December 2012.”

In simple all are shafters' companies.

Last edited by econ on Wed May 15, 2013 12:25 pm; edited 1 time in total

Arena · 42 Re: CFVF - First Capital Wed May 15, 2013 12:23 pm

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Just outside the box....

FCVF recruited a professional risk senior manager paying a huge salary. It shows that CFVF knows the riskiness of the business and trying to play it safely.

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