What are they gonna do with all this money?Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3591377776764_.pdf
Will they restart the Mayfair city project without a partner?
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What are they gonna do with all this money?Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3591377776764_.pdf
Holy crap, i'm glad i was able to pick up some of the shares Moorthy was dumping.Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3591377776764_.pdf
Exactly, minority shareholders are at the mercy of stingy managers/directors.nirowat wrote:problem is cannot trust the management or the directorship to utilise the money well.
likely to siphon it off somewhere and the poor small holder will not see any of it.
As Jiggy mention, best example is RENU, after all the cash reserves accumulated, they cut the dividend payment !
We have 10213 registered usersJiggysaurus wrote: The bigger shareholders like Elgin, Gulamhusein, pierre lanka and rosewood will need to push the directors and unlock the value.
Gaja wrote:Two Sell orders in total for 133,720 shares
Gaja wrote:Two Sell orders in total for 133,720 shares
UKboy wrote:Gaja wrote:Two Sell orders in total for 133,720 shares
This must come from top 5-15. (unless it changed since last Q report)
Genuine or not. Yes another question.
slstock wrote:Are they genuine is a question?Gaja wrote:Two Sell orders in total for 133,720 shares
UKboy wrote:Who will pocket the money? Owners? Will they give at least a small portian to mini stake holders? Whats gonna happen with Mayfair city?
Will they dissolve the company? Hmmmm.......
seyon wrote:UKboy wrote:Who will pocket the money? Owners? Will they give at least a small portian to mini stake holders? Whats gonna happen with Mayfair city?
Will they dissolve the company? Hmmmm.......
UKboy, Did you notice amounts due from subsidiary and impairment provision thereon ( Page 30 of AR). Rs. 590Mn was given during the F/Y 2013 to its subsidiary , out of which Rs.340 Mn was made as impairment provision within one year period. It seems someone pockets the money..
slstock wrote:Seyon.
There was an issue with this Subsidiary and BOI . Check chairman's message and rest of report to figure that and anything to do with the issue you mentioned.seyon wrote:UKboy wrote:Who will pocket the money? Owners? Will they give at least a small portian to mini stake holders? Whats gonna happen with Mayfair city?
Will they dissolve the company? Hmmmm.......
UKboy, Did you notice amounts due from subsidiary and impairment provision thereon ( Page 30 of AR). Rs. 590Mn was given during the F/Y 2013 to its subsidiary , out of which Rs.340 Mn was made as impairment provision within one year period. It seems someone pockets the money..
Jiggysaurus wrote:slstock wrote:Seyon.
There was an issue with this Subsidiary and BOI . Check chairman's message and rest of report to figure that and anything to do with the issue you mentioned.seyon wrote:UKboy wrote:Who will pocket the money? Owners? Will they give at least a small portian to mini stake holders? Whats gonna happen with Mayfair city?
Will they dissolve the company? Hmmmm.......
UKboy, Did you notice amounts due from subsidiary and impairment provision thereon ( Page 30 of AR). Rs. 590Mn was given during the F/Y 2013 to its subsidiary , out of which Rs.340 Mn was made as impairment provision within one year period. It seems someone pockets the money..
This is why shareholders should look at the Group accounts instead of wasting time on Company accounts. Accountants should only just release the consolidated accounts (US/UK only shows the consolidated statements)
slstock wrote:Jiggy,
Agree on the first point : we should look at Group.
On second point, having access to Company accounts also will be useful
( For Ex : To figure RCL core company earnings etc)Jiggysaurus wrote:slstock wrote:Seyon.
There was an issue with this Subsidiary and BOI . Check chairman's message and rest of report to figure that and anything to do with the issue you mentioned.seyon wrote:UKboy wrote:Who will pocket the money? Owners? Will they give at least a small portian to mini stake holders? Whats gonna happen with Mayfair city?
Will they dissolve the company? Hmmmm.......
UKboy, Did you notice amounts due from subsidiary and impairment provision thereon ( Page 30 of AR). Rs. 590Mn was given during the F/Y 2013 to its subsidiary , out of which Rs.340 Mn was made as impairment provision within one year period. It seems someone pockets the money..
This is why shareholders should look at the Group accounts instead of wasting time on Company accounts. Accountants should only just release the consolidated accounts (US/UK only shows the consolidated statements)
slstock wrote:Jiggy,
Agree on the first point : we should look at Group.
On second point, having access to Company accounts also will be useful
( For Ex : To figure RCL core company earnings etc)
Jiggysaurus wrote:slstock wrote:Jiggy,
Agree on the first point : we should look at Group.
On second point, having access to Company accounts also will be useful
( For Ex : To figure RCL core company earnings etc)
For companies like JKH, CARS and HAYL separately showing company accounts is utter nonsense (there is no such thing as a core company inside that group). Which is why the parent companies of Caltex or Nestle only reports group statements. Anyway this is something for accountants to sort out, Sri-Lanka would be around 40-50 years behind other markets so we might get inline by 2070.
In the case of SHAW the subsidiary is 100% owned so it is extra utter nonsense to report company accounts separately. If it can confuse "global moderators" like Seyon imagine how non global moderators are going to read the statements?
seyon wrote:
Jiggy,
I did not confuse and i am not an accounting professional. so can u explain me why the impairment provision was made within a short period and how that would impact to shareholder's wealth.
Jiggysaurus wrote:seyon wrote:
Jiggy,
I did not confuse and i am not an accounting professional. so can u explain me why the impairment provision was made within a short period and how that would impact to shareholder's wealth.
Neither am I, maybe some expert will be happy to take time to explain to a "global moderator"?
What I can quickly explain is- The subsidiary is 100% owned so don't waste time looking at company accounts look at the group statements.
-The money given to the subsidiary was to build an apartment block (the company accounts has this 772 million as receivable from sub, the group accounts has this as inventory). Basically the cash got turned into inventory and due to up and down impairments it has finally ended up as 772 million in value. As per the AR this 772 million will now get turned into 840 million in cash (note 18b in AR)
Jiggysaurus wrote:seyon wrote:
Jiggy,
I did not confuse and i am not an accounting professional. so can u explain me why the impairment provision was made within a short period and how that would impact to shareholder's wealth.
Neither am I, maybe some expert will be happy to take time to explain to a "global moderator"?
What I can quickly explain is- The subsidiary is 100% owned so don't waste time looking at company accounts look at the group statements.
-The money given to the subsidiary was to build an apartment block (the company accounts has this 772 million as receivable from sub, the group accounts has this as inventory). Basically the cash got turned into inventory and due to up and down parts impairments it has finally ended up as 772 million in value. As per the AR this 772 million will now get turned into 840 million in cash (note 18b in AR)
slstock wrote:Here is what we were expecting
http://www.cse.lk/cmt/upload_report_file/632_1392287042422.pdf
Meman wrote:No real idea what kind of impact this will have on this share but think not positive as no dividend will be declared
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