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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Interim Financial Statements 31-03-2013 - LOLC

Interim Financial Statements 31-03-2013 - LOLC

Go down  Message [Page 1 of 1]

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/378_1369997486767.pdf

Bond


Manager - Equity Analytics
Manager - Equity Analytics
This firm is so complicated

Soon they will have the largest balance sheet of any listed entity

How does this make sense?

In July 2012, LOLC Investments Limited (LOIV), a fully owned subsidiary of the Company, which owns 50% of Diriya Investments (Pvt) Ltd (Diriya), the holding company of Brown and Company PLC, entered in to a share purchase agreement to acquire the
balance 50% holding in Diriya for a consideration of Rs. 1.32 Bn. The share purchase agreement will eventually result in LOIV owning 100% of Diriya. Two instalments amounting to Rs. 1.65 Bn. has been settled and the balance is due in July 2013.

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
Is it worth at current levels?

Their debt ratio seems high.....

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
They should stop expanding anymore n focus on internal things plus incomplete businesses such mega tourist resort in Beruwala.

Real money term, They hardly made any penny during 2012/2013 period.

I heard that they are looking into healthcare sector. I hope it wont happen anytime soon.

No matter what, still they have one of the best boardrooms in listed companies.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Visionaries?


@UKboy wrote:

No matter what, still they have one of the best boardrooms in listed companies.

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@slstock wrote:Visionaries?


@UKboy wrote:

No matter what, still they have one of the best boardrooms in listed companies.

When i saw this, their was only one thing that sprang to mind. Long Term Capital Management.

Has anybody heard the story ? This was run by some of the best minds in America at that time MIT, Harvard, Nobel Prize winners, the best of the best.

When Genius Failed: The Rise and Fall of Long-Term Capital Management

When Genius Failed: The Rise and Fall of Long-Term Capital Management is a book by Roger Lowenstein published by Random House in 2000. (ISBN 0-375-50317-X) As of 2008, there have been six editions.[1]
The book received numerous accolades, including being chosen by BusinessWeek among the best business books of 2000.[2]

The book tells the story of Long-Term Capital Management (LTCM), an American hedge fund which commanded more than $100 billion in assets at its height. Among LTCM's principals were several former university professors, including two Nobel Prize-winning economists.
Between 1994 and 1998, the fund showed a return on investment of more than 40% per annum. However, its enormously leveraged gamble with various forms of arbitrage involving more than $1 trillion dollars went bad, and in one month, LTCM lost $1.9 billion. On the precipice of not only an American financial disaster, the fund's imminent collapse had significant international monetary implications, jeopardizing the financial system itself. Prompted by deep concerns about LTCM's thousands of derivative contracts, in order to avoid a panic by banks and investors worldwide, the Federal Reserve Bank of New York stepped in to organize a bailout with the various major banks at risk.

Backstage

Backstage
Moderator
Moderator
Is that Cabraal I see on a white horse in the distance. Suspect

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ The Alchemist. Thanks for sharing that interesting story. I wasnt aware of that.

@ Sls I still have the faith on LOLC boardroom. Smile

If the government is planning to reduce rates, then these financial companies such LOFC, CLC will eventually get notable benifit.

This year LOFC has provisioned 1.24 billion for doubtful debts & potential write offs. That's a staggering number even for a Bank. Looks like high risk high gain stratergy has backfired in that case?

Companies like LOLC, SHL, RHL all should now focus on thier internal issues rather look into expand any futher. It's time them to settle a bit before start moving again.

Note: I dont have any LOLC/LOFC/CLC shares.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Agree.

@UKboy wrote:
Companies like LOLC, SHL, RHL all should now focus on thier internal issues rather look into expand any futher. It's time them to settle a bit before start moving again.

sriranga

sriranga
Co-Admin
@The Alchemist wrote:
@slstock wrote:Visionaries?


@UKboy wrote:

No matter what, still they have one of the best boardrooms in listed companies.

When i saw this, their was only one thing that sprang to mind. Long Term Capital Management.

Has anybody heard the story ? This was run by some of the best minds in America at that time MIT, Harvard, Nobel Prize winners, the best of the best.

When Genius Failed: The Rise and Fall of Long-Term Capital Management

When Genius Failed: The Rise and Fall of Long-Term Capital Management is a book by Roger Lowenstein published by Random House in 2000. (ISBN 0-375-50317-X) As of 2008, there have been six editions.[1]
The book received numerous accolades, including being chosen by BusinessWeek among the best business books of 2000.[2]

The book tells the story of Long-Term Capital Management (LTCM), an American hedge fund which commanded more than $100 billion in assets at its height. Among LTCM's principals were several former university professors, including two Nobel Prize-winning economists.
Between 1994 and 1998, the fund showed a return on investment of more than 40% per annum. However, its enormously leveraged gamble with various forms of arbitrage involving more than $1 trillion dollars went bad, and in one month, LTCM lost $1.9 billion. On the precipice of not only an American financial disaster, the fund's imminent collapse had significant international monetary implications, jeopardizing the financial system itself. Prompted by deep concerns about LTCM's thousands of derivative contracts, in order to avoid a panic by banks and investors worldwide, the Federal Reserve Bank of New York stepped in to organize a bailout with the various major banks at risk.

Yes a good book to read.

To read the whole book.
http://www.scribd.com/doc/93099180/When-Genius-Failed-The-Rise-and-Fall-of-Long-Term-Capital-Management#.UasBfEC7JMk

http://sharemarket-srilanka.blogspot.co.uk/

Bond


Manager - Equity Analytics
Manager - Equity Analytics

Funny you say this. LTCM is more similar to CFVF than LOLC.

LTCM is no different to other hedge funds which are involved in fixed income trading or leveraging their balance sheets to invest funds. In the end if the final investment is acquired or if there is a higher than normal default the "house of cards" collapses

I can relay the same story in the following manner:

Some time back there was a firm called Asia Asset Fort Management that acquired a large stake in NDB. They did via placing $9m us dollars at Seylan City Branch and used that to borrow funds to buy the bank.......... a smarter person would have borrowed from the bank to buy the bank. In hindsight similarly DP should have borrowed from SAMP not SEYB but that's another story.... afterwards write off the loan as bad debts Razz

If the govt took over those shares the entire house of cards would have collapsed and ..... would have been in big trouble...... you know who they are Razz

Same story with LTCM..... Russia defaulted on their bond payments

@The Alchemist wrote:
@slstock wrote:Visionaries?


@UKboy wrote:

No matter what, still they have one of the best boardrooms in listed companies.

When i saw this, their was only one thing that sprang to mind. Long Term Capital Management.

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