FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» DIPD/HAYC/HAYL
by abey Today at 6:14 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Mr. X Today at 4:55 pm

» LOLC Share Price
by EGG Today at 4:28 pm

» ELPL & WATA
by High-flyer Today at 2:29 pm

» VPEL high return share
by Eranga87 Today at 2:25 pm

» Import Restrictions and True State of Local Tile Manufacturers
by EquityChamp Today at 2:17 pm

» B P P L HOLDINGS PLC (BPPL.N0000)
by vikiperera Today at 12:43 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by stockchaser Today at 12:04 pm

» GLAS will be winner with Super Gain.
by Eranga87 Today at 10:58 am

» Crypto , Digital Currency Trading , Forex
by Kevinmikegrit Today at 9:40 am

» Day Traders must gradually start accumulating a well diversified portfolio of stocks which are cash generative. Stock market for beginners
by Asoka Samarakone Yesterday at 8:24 pm

» Is 12th a holiday CSE
by Vishwanarth Yesterday at 10:46 am

» Kelani TYRES
by shan31 Sat Apr 10, 2021 9:07 pm

» VALLIBEL ONE PLC (VONE.N0000)
by shan31 Sat Apr 10, 2021 8:54 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by shan31 Sat Apr 10, 2021 7:34 pm

» South Asia’s first Disneyland to come up in Sri Lanka
by samaritan Sat Apr 10, 2021 1:42 pm

» Daily Foreign Transactions
by Pradeep90 Fri Apr 09, 2021 7:53 pm

» TALAWAKELLE TEA ESTATES PLC (TPL.N0000)
by lakymahesh Fri Apr 09, 2021 6:20 pm

» Sri Lanka bans palm oil imports, tells producers to uproot plantations
by CHRONICLE™ Fri Apr 09, 2021 3:22 pm

» ASPI Prediction by HNWI
by samaritan Fri Apr 09, 2021 9:09 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Interim Financial Statements 31-03-2013 - RICH,KGAL,NAMU & MASK

Interim Financial Statements 31-03-2013 - RICH,KGAL,NAMU & MASK

Go to page : 1, 2  Next

Go down  Message [Page 1 of 2]

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/509_1369997171324.pdf

http://www.cse.lk/cmt/upload_report_file/725_1369993677264.pdf

http://www.cse.lk/cmt/upload_report_file/711_1369994105425.pdf

http://www.cse.lk/cmt/upload_report_file/723_1369993859026.pdf

suja


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Have the got a working capital issue based on their Balance sheet they have. Please advice

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Yes RICH is heavily need the support from subsidiaries. Dividends

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Arena wrote:Yes RICH is heavily need the support from subsidiaries. Dividends

Is the subsidiaries is in the position to declare heavy dividends?

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Yes Gaja y not........... If i am not mistaken any where.........

Namu is having 2.3b Short term investments 25 m shares it is around Rs. 45 per share.
REXP is having 92m ( Company also small ) Rs. 9per share

MASK having 300m Short term investments Around Rs5 per share

KGAL also having 2.3b Short term investments. Rs 45 per share

Have they really gone mad. They have enough cash to pay all these short term liabilities in the group. It is just matter of Paying a dividend or transferring the ownership of an entity for cash..

I think they are planing a big move with all these short term investments. May be a huge acquisition like what KOTA did.

They just shows 11b as the value of their PPE but i think they have not revalued those properties located at Maharagama, Town Hall an all...........So they are really well balanced..........?

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
Yes, Arena
They have not revalued properties as it seems
Their performance is not bad given the tough quarter for retail segment
Otherwise, profits maintained in a sense of capital gains from sale of assets

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
What is happening with MASK...........

A dividend or the plantation rally starting with MASK.............
Right issue was at 12
No dividend paid yet ..........

Any idea ?

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
I mentioned several times in the forum.

These tea companies, might have a lot of expenses in June quarter. So it might be best for them to reserve some money.
Giving a big dividend maybe not be wise.

Arena


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

Please remind me What are the main reasons for the cost escalation.
Wages 18% ?

But at least these companies should trade at OE of 5..at least.
And still tea prices average above Rs. 420

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
I am not saying they don;t deserve better valuation than now.

BUt there will be higher gratuity and wage hike issues for some Tea only companies.



@Arena wrote:SLstock

Please remind me What are the main reasons for the cost escalation.
Wages 18% ?

But at least these companies should trade at OE of 5..at least.
And still tea prices average above Rs. 420

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
Wage hike will impact, but it will not severe as speculated
Plantations have been coping with wages for decades
Nothing to worry, if there is value buy, just buy it

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
There are better plantations than MASK. ( But i have MASK at 12.80)

For me MPRH is the Best undervalue plantation.......I have it averaged below 30....

Lets wait and see..................

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
@salt wrote:Wage hike will impact, but it will not severe as speculated
Plantations have been coping with wages for decades
Nothing to worry, if there is value buy, just buy it

Fair enough point but even last time we had plantation experts saying that wage hike not be an issue. And while you are right that the hit will not be as severe as last time a loss is a loss and the retailers holding these shares are likely to run for the exits after June results (just as they are rushing to buy after March results)
The following data range should show anyone interested the upcoming hole for the plantation companies

-2=2.12, -1=1.15, +1= -7.56, +2= -11.78


-2 and -1 are the two quarters immediately prior to the 2011 wage hike +1 and +2 are the two quarters post (in MASKs case nearly 3 years worth of profits got wiped out in 2 quarters)
The only difference from 2011 is that the plantation shares are at a lower trading range but the profits will take a massive hit.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Innam

I thought to took this as example,

For Agalawatte Plantations Plc reported 138 Million as the Profit from the Continued operations!

This is what Chairman says

The RPCs have just signed a new wage agreement, which has granted an
increase of 20% on the daily wage from April 2013 in the expectation of
increased productivity and efficiency. With wages contributing to more than
60% of cost of production, this increase will have a significant effect on
profitability, and the annual impact of the increase on your company will be
Rs. 200Mn, without considering the related gratuity adjustments. As stated in my previous reviews, with Sri Lanka’s cost of production already being high, and the emergence of low cost producers like Vietnam, India and Kenya, it is imperative that we strive towards a productivity linked wage so that our plantation industry can be globally competitive and thereby viable and sustainable in the long term.

Also if am not mistaken i watch a video where RICH Chairman told once the wage increase take place it will be red for MASK Immediately.

I might be wrong this time, i have to wait and see




Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Innam,
Your point is noted,

What about the Tea prices in the auction.........

Now they are at the highest ever in last 3 years.
For an example Jan 2013 Avg. at 423.8 while Jan 2012 is 348
Feb 2013 422 and Feb 2012 is just 349

Like wise i have the entire analysis done for last 3 years ( Weekly )
If these prices are not reduces any cost escalation can be absorbed for sure.

I just need your advise on this assumption. ( Chinwi your idea also very important )

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
@Arena wrote:

Like wise i have the entire analysis done for last 3 years ( Weekly )
If these prices are not reduces any cost escalation can be absorbed for sure.

I just need your advise on this assumption. ( Chinwi your idea also very important )

Are these magical tea prices translating into the EPS? Remember it's not just wages that are increasing.

If you take Gaja's example AGAL has made a profit of 1.5 million in the March quarter. This is a quarter where you say tea prices are sky high.
According to Gaja's post the management expects additional costs from wages to be 200 million+ and the gratuity provision can be another 100 to 200 million+ (Balance sheet provision figure is 500 million currently).
So how will a company like AGAL absorb nearly 400 million in costs (actual+provisions) when they are only delivering 1.5 million in profits (that too in a quarter with high tea prices)?

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I agree with your costing analysis.
I am talking about the revenue.

If you take MPRH they are keep on increasing The stock they have for last 2 quarters. Now it is around 600m if i am not mistaken. I dont know whether they want hide the revenue or to keep the higher prices by limiting the supply.

When it is come to AGAL I realy didnt have a look but for sure they have another issue where tea production should be very less compare to the same q in 2012. There is no reason to have a revenue reduction over two quarters.

If you take MAL even i personally know they want to hide the profits since the owner is controlling.

And i am not saying prices are high these figurs are taken from the Forbs tea portal weekly report. At any given time these prices can come down. And also i dont expect any further hike in the profits of these tea companies i just say profits will be sustain or slightly effected due to wage and electricity hike. But i really like to know the Chinwi"s idea on this since his analysis are really deep.

Nigel.Machado


Manager - Equity Analytics
Manager - Equity Analytics
Some tea based plantations rallied today i guess beacause of the presidents request to make ceylon tea readily accessible for the chineese consumers during discussions in china. rather keeping it as a premium product. Some clues about the discussions were given on Sunday times main article.

Nigel.Machado


Manager - Equity Analytics
Manager - Equity Analytics
Sorry, the article was not on the times instead on the sunday leader under the heading "sri lanka & china sighns multiple deals"

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
China is the wold biggest mkt but They consumes green tea than black. Any way 1% of the mkt will be good enough...........

Sponsored content


Back to top  Message [Page 1 of 2]

Go to page : 1, 2  Next

Permissions in this forum:
You cannot reply to topics in this forum