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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » CIFL - Interim Financial Statements as of 30-06-2013

CIFL - Interim Financial Statements as of 30-06-2013

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/1083_1376898345.pdf


Net Asset per share - Rs. 2.27

EPS - Rs. -2.18

CIFL - Interim Financial Statements as of 30-06-2013 Cifl10

troy

troy
Moderator
Moderator
Nobody has signed the reports. Why CSE publish these bullshit reports? Who knows the accuracy?

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
No. 13 and No. 19

Horrific margin calls !

---
Public holding 77% !
Aspic has gradually dropped majority of CIFL last 2 season !

MAD Perera , not so Mad.
Then who MAD ?


Percentage of holding of CIFL

2013-1-1
Aspic 48.8 %
MAD Perera 13.8 %

2013-4-1
Aspic 40 %
MAD Perera 8.76%

2013-7-1
Aspic 22 %
MAD Perera - No Mad Perera

Today
Aspic ?
MAD others 99 % ?

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
If sum1 think that CIFL would turn around with new management, then they are the first jokers. Even the owner cleared his portfolio without any single share.. yy? If I put the things right way, the man who knows all the bullshit about his company is owner. No1 else....

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Jana Do not assume that they have cleared their portfolios ...they may eliminated from top twenty shares holder's list. Not even MAD and Aspic Just sea the chart below
ELIMINATED SHARES HOLDERS FROM TOP TWENTY SHARE HOLDERS LIST AFTER 31/03/2013
Name of Share Holders Number of shares
MR. MALLAWA ARACHCHIGE DEEPTHI PERERA 7,309,580
MR.AMAL SIRIMEVAN LIYANAGE 794,611
MR.H.M.R.MOHAMED 500,000
SEYLAN BANK PLC/MR. MANIKKAVASAGAR THIYAGARAJA 450,000
MRS. LIYANA PALLIYAGE PRIYANGIKA 410,000
MR. THITHTHAGALLA GAMAGE PRABATH NISHANTHA 406,500
MR.B.V.HETTITHANTHRIGE 342,500
MR.R.M.J.RAJAPAKSE 341,698
MR.T.DISSANAYAKE 313,932
MR.M.S.JAUFFER 310,100

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
[img]CIFL - Interim Financial Statements as of 30-06-2013 Cifl11[/img]

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@m2_yapa wrote:Jana Do not assume that they have cleared their portfolios ...they may eliminated from top twenty shares holder's list. Not even MAD and Aspic Just sea the chart below
ELIMINATED SHARES HOLDERS FROM TOP TWENTY SHARE HOLDERS LIST AFTER 31/03/2013
Name of Share Holders Number of shares
MR. MALLAWA ARACHCHIGE DEEPTHI PERERA 7,309,580
MR.AMAL SIRIMEVAN LIYANAGE 794,611
MR.H.M.R.MOHAMED 500,000
SEYLAN BANK PLC/MR. MANIKKAVASAGAR THIYAGARAJA 450,000
MRS. LIYANA PALLIYAGE PRIYANGIKA 410,000
MR. THITHTHAGALLA GAMAGE PRABATH NISHANTHA 406,500
MR.B.V.HETTITHANTHRIGE 342,500
MR.R.M.J.RAJAPAKSE 341,698
MR.T.DISSANAYAKE 313,932
MR.M.S.JAUFFER 310,100
Dont talk rubbish man, Eliminate mean holder of shares less than 300K?? For what? To buy peanut with that?? They got exit above 1 and conceptually made at least 50-100% return as per today price... They get rid of nearly 15 mn shares and u r claiming that

Y do u copy and paste last qtr top 20 holders list?? Doing bad promotions or making ur heart comfortable as a holder of CIFL?? If that so do with ur family member not in da forum..
He got exit man, the public holding went from 39.84% to 77.46%... almost doubled...

If you don't have better idea ask questions don't advise...

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Very Happy Thank you. But i was not advising you. You can think either way.

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
I think Meloney, MAD Perera and CBSL all cheated the investing public. CBSL is aware of the situation earlier. They should have blocked the exit of major shareholders with a reading suspension. Without doing that, they allowed owners to exit at the expense of investing public.



Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Figures of Elimination !

This is the rough calculation based on prevailed prices.

From Jan to March they sold to public 10million shares @ 4.2 avr = 42 million LKR
(No CSE announcement made ! )

From April to Jun 23 million sold @ 2.30 avr = 53 million LKR
( announcement made on 23rd July for the transactions done 2 and 1/2 months ago (May)  and CSE accepted it! )

Total income by selling 33 million shares = 42+53 =Rs. 95 million.
current mkt value of that 33 m = 33 x .7 = Rs. 23 million.

Current market value of the whole company 83 million shares x 0.70 = Rs. 58 million

---

BTW, the table in yellow is not correct. Mr. MAD Perera had 7.6 million shares on 31.3.2013

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@troy wrote:Nobody has signed the reports. Why CSE publish these bullshit reports? Who knows the accuracy?
CENTRAL INVESTMENTS & FINANCE PLC
The Board of Directors are responsible for the preparation and presentation of these Financial Statements.

Approved and signed for and on behalf of the Board


.....................
Director
Date: 19/08/2013


That means they are not responsible. !

The people who bought shares and those who deposited their money have to take the responsibility for  their actions .

shehani.perera.1612

shehani.perera.1612
Equity Analytic
Equity Analytic
@Chinwi wrote:No. 13 and No. 19

Horrific margin calls !

---
Public holding 77% !
Aspic has gradually dropped majority of CIFL last 2 season !

MAD Perera , not so Mad.
Then who MAD ?


Percentage of holding of CIFL

2013-1-1
Aspic 48.8 %
MAD Perera 13.8 %

2013-4-1
Aspic 40 %
MAD Perera 8.76%

2013-7-1
Aspic 22 %
MAD Perera - No Mad Perera

Today
Aspic ?
MAD others 99 % ?
Hi Chinwi,

This table is correct, what i also notice that MAD sold Aspic to Roscoe on January 2013, then Roscoe is the one who sold all the Shares, So instead of investing 12 Million to CIFL he have sold the shares and taken the money. And i aso noticed that Since IPO either ASPIC or MAD have not sold any Shares, But I wonder why they didnt sell when the share price was high, if they wanted and exit they would have sold the Shares at 5-6 and made money, Its Confusing,

13CIFL - Interim Financial Statements as of 30-06-2013 Empty Troubled finance company deep in the red Fri Aug 23, 2013 8:40 am

sriranga

sriranga
Co-Admin
The troubled finance company, Central Investment & Finance Company PLC (CIFL) continued to mount its losses and the first quarter (1Q14) results released to the Colombo Stock Exchange (CSE) showed a net loss of Rs.182 million. In the corresponding quarter last year, the company’s net profit stood at Rs.334, 000.

The company’s Loss per Share is 218 cents. The net loss recorded by the company during the financial year ended March 31,2013 was Rs. 330.4 million.

The net interest income of the company plunged by a staggering 261 percent Yearon-Year (YoY) to a negative Rs.127.4 million. This was because the company had to account as much as Rs.150 million in interest expenses for their deposit holders when it could only accrue an interest income of Rs.22.6 million during the three months to June 30, 2013. Interest income received from leases and hire purchases more than halved to Rs.3.2 million while the interest income from loans plunged to Rs.19.2 million from Rs.68.5 million a year ago.

Real estate and housing segments did not bring revenue during the period while other investments income were only Rs. 216,000, a steep drop from Rs. 3.0 million a year ago.

Operating expenses decreased by 30 percent YoY to Rs.57 million, demonstrating the management’s effort to reduce costs.

Since the termination of the services of ex-CEO, Jayanth Wickrameratne in January, there was a run on the deposits, and according to the then Chairman, Lakshman Rupasinghe (now a board member), deposit holders withdrew their deposits upon maturity without renewing it for a further period, eroding the deposit base.

As of June 30, the company has a deposit liability of Rs.3.3 billion, largely unchanged from March 31,2013.

Meanwhile the high expectations for a fresh equity infusion of US $ 12 million by the new owners, the Roscoe Maloney family to revive the ill-fated company also appear to be remote.

The Central Bank issued a directive on July 01, appointing Peoples’ Leasing and Finance PLC as the managing agents and allowed time till July 31 to come up with a revival plan for CIFL. Further, the Central Bank removed all executive powers from executive board members and instructed the managing agents not to mobilize fresh deposits until further notice. Unlike many other finance companies, CIFL lacks the presence of a single largest shareholder, to provide strength and stability when times are not so good. Currently the largest shareholding by a single party is 17.53 percent held by Aspic Corporation Private Limited. (DK)
http://www.dailymirror.lk/business/other/34236-troubled-finance-company-deep-in-the-red-.html

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

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