Is there any bad news on COCR

Arena · 1 Is there any bad news on COCR Thu Sep 19, 2013 11:51 pm

Arena

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Dear Members..

Do you have any bad news on COCR some thing like they could not pay the last debenture interest on time. I have no any confirmed information so dont spread this as a scam. This small news it self enough to make a Dam hit to the comapny.

So just a question................I get rumors from every where.........

hettdas · 2 Re: Is there any bad news on COCR Fri Sep 20, 2013 8:55 am

hettdas

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I have a debenture of COCR and they paid interest in time. Their weakness is they don't send seperate letter informing about the interest like other banks.
So please don't spread rumors....Rumors can make lot of damages to a company

Arena · 3 Re: Is there any bad news on COCR Fri Sep 20, 2013 10:19 am

Arena

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What to do.
to get the info. from the forum i gave ask it some how. Not spreading the rumor just try to ensure the news.

Any way lets delete this later.

Gaudente · 4 Re: Is there any bad news on COCR Fri Sep 20, 2013 10:57 am

Gaudente

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if this were true, there should be a sell off of the stock, which is instead up with low volume

Rapaport · 5 Re: Is there any bad news on COCR Fri Sep 20, 2013 11:59 am

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There is a general perception that most finance companies are in trouble and as a result many sold out or are avoiding such companies.

As you can see there was and still is alot of hype in media about many finance companies under investigation and COCR can be a suspect with its sudden growth and high interest debenture issue.

Even companies like LFIN are not spared and yes LFIN has a gold loan issue as well.

Cheers!

hettdas · 6 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:16 pm

hettdas

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@Rapaport wrote:There is a general perception that most finance companies are in trouble and as a result many sold out or are avoiding such companies.

As you can see there was and still is alot of hype in media about many finance companies under investigation and COCR can be a suspect with its sudden growth and high interest debenture issue.

Even companies like LFIN are not spared and yes LFIN has a gold loan issue as well.

Cheers!

I also agree with you. We can see a sudden growth in COCR . I also trust them with their very good client support team. If someone deal with them he/She can clearly see the difference with other finance companies. I think that may be the reason for their sudden growth.

ice4083 · 7 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:29 pm

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Looks likes they have silently answered all critics by declaring a Rs 0.50 per share dividends today http://www.cse.lk/announcements
note that the dividend payment date falls well after the quarterly interest payment date on their listed debentures.

troy · 8 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:59 pm

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yeas they are paying a dividend of 0.50

jks · 9 Re: Is there any bad news on COCR Fri Sep 20, 2013 8:53 pm

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they paid interest of debenture on time.they have more money from debenture and IPO.they expanded rapidly with innovative ideas than others finance company.

Arena · 10 Re: Is there any bad news on COCR Fri Sep 20, 2013 11:03 pm

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Yep........
It is clear and thanks fro the info.

Slstock · 11 Re: Is there any bad news on COCR Sat Sep 21, 2013 1:09 am

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It can be cleared up 2 ways? Which way is is Arena?

@Arena wrote:Yep........
It is clear and thanks fro the info.

Arena · 12 Re: Is there any bad news on COCR Sat Sep 21, 2013 8:02 am

Arena

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Hey,,

1) I heard COCR is having small management issue not a cash shortage. not sure
2) One of my friend suddenly closed his 1m FD they paid it with in no time.
3) Dividend.

With all above 3 points i dont feel that much curiosity. Wt u say?

I agree with high interest payment for debenture is a issue but it is just 500m where they have more than 10b in deposits. All these finance companies will struggle in managing maturity risk for a while due to this sudden interest rate cut. Other than that COCR will do well with their excellent innovative management.

??????????????????????????

balapas · 13 Re: Is there any bad news on COCR Sat Sep 21, 2013 8:44 am

balapas

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I think they have a scheme where they give presents like ipads etc as interest upfront and capital can be withdrawn later similar to Sampaths kalin poli. Within 2 months share price of COCR had come down by about 23% since overall market downturn and finance company industry related fiasco. Yesterday erased 10% of it. Short term may be but for long term go for a better rating one. They have a good website but People leasing the so called biggest non banking financial company has broken links for FD and saving accounts
http://www.plc.lk/inpages/products_and_services/investments.php

shehani.perera.1612

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Hi guys Just had a look at COCR annual report, Have you notice that the Ratio between the increase of the Liability and the lending Pattern, they have mainly focused on Micro Finance and Loans only, Its has increased from 5 Billion. But HP and Leasing Increased only from a Billion Rupees. How ever if you see the real estate, fixed assets and property Investments has increased from 1.7 Billion. And their provision for Bad Debts is very Low its around 2% only. That''s a great achievement if it is real, with a 5 Billion Micro and Loans portfolio. I wonder why would they want to increase the non interest earning portfolio from 1.7 Billion Rupees when they have a Such good lending figures. Like 2 % Bad debts? if you compare the Profit of 600 Million VS another 3% increase of Bad Debts this whole scenario can be changed. My point is Last year they had a 7 Billion Lending Stock and they provided 200 Odd Million and when this is doubled to 14 Billion this amount is almost the Same. Do you think it is possible ? if they maintain the same percentage of the Bad Debts still figure would be double. But in general when u increase by 7 Billion this sum should go high with the Sri Lanka's lending patterns. How ever lets see this year how they will maintain the NPL ratios? if they can i think they are the best.

Slstock · 15 Re: Is there any bad news on COCR Sun Sep 22, 2013 12:34 am

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There is one thing that concerns me with companies which appear to be accelerating much better than similar companies in their group.

Either they are a Gem in forming.
Or they can be a Flop due to over ambition.

With COCR it is too early to comment. I remember in 2011 they issued a Press release saying they intend their target share price in 3 years or somthing to be RS 280+ from around rs 30 at that time!!!!

Now 2 year have gone, forget about increasing from Rs 30... ....

I cannot find the article we commented but some of us said that they are over ambitious.

Anyone good thing is they seem to treat their shareholder well with dividends and bonuses.

sriranga · 16 Re: Is there any bad news on COCR Sun Sep 22, 2013 1:52 am

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Are you talking about the following link?
http://forum.srilankaequity.com/t10375-launch-of-commercial-credit-strategic-plan-good-opportunity-short-to-medium-term?highlight=commercial

Slstock · 17 Re: Is there any bad news on COCR Sun Sep 22, 2013 2:09 am

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Thanks but NO. That thread would have had comments made by some of us on this Rs 280+ share price in 3 years.

@sriranga wrote:Are you talking about the following link?
http://forum.srilankaequity.com/t10375-launch-of-commercial-credit-strategic-plan-good-opportunity-short-to-medium-term?highlight=commercial

sriranga · 18 Re: Is there any bad news on COCR Sun Sep 22, 2013 2:13 am

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@slstock wrote:Thanks but NO. That thread would have had comments made by some of us on this Rs 280+ share price in 3 years.

@sriranga wrote:Are you talking about the following link?
http://forum.srilankaequity.com/t10375-launch-of-commercial-credit-strategic-plan-good-opportunity-short-to-medium-term?highlight=commercial

In that case the following might be,
http://forum.srilankaequity.com/t23836-market-giving-a-second-chance-cocr-discussion#142577

Slstock · 19 Re: Is there any bad news on COCR Sun Sep 22, 2013 4:39 am

Slstock

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Ahh yes, this was certainly one of which I was looking for . There should be atleast another in 2011.Thanks Sri.

@sriranga wrote:

@slstock wrote:Thanks but NO. That thread would have had comments made by some of us on this Rs 280+ share price in 3 years.

@sriranga wrote:Are you talking about the following link?
http://forum.srilankaequity.com/t10375-launch-of-commercial-credit-strategic-plan-good-opportunity-short-to-medium-term?highlight=commercial

In that case the following might be,
http://forum.srilankaequity.com/t23836-market-giving-a-second-chance-cocr-discussion#142577

shehani.perera.1612 · 20 Re: Is there any bad news on COCR Sun Sep 22, 2013 6:59 am

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2. Every finance company shall maintain a minimum holding of liquid assets as defined in Section 46 of the Finance Companies Act, No. 78 of 1988 as amended by Act No. 23 of 1991 which shall not, at the close of the business on any day, be less than the total of :
(i) Ten per cent of :–
(a) the outstanding value of the time deposits received by the finance company at the close of the business on such day; and
(b) the face value of certificates of deposit issued by the finance company; as appearing on the books of the finance company at the close of the business on such day; and
(ii) Fifteen per cent of the outstanding value of savings deposits accepted by such company,

4. Every finance company shall at all times maintain assets in the form of Sri Lanka Government Treasury Bills, Sri Lanka Government Securities and the Central Bank of Sri Lanka Securities equivalent to seven and a half (7.5) per cent of the average of its month end total deposit liabilities of the twelve months of the preceding financial year.

COCR 's Deposit Liability as at 31 st March 2013 = 13,155,608,625.00 As at 2012 =6,925,000,000.00
Treasury Bills As at 31st 2013 = 190,723,899.00 As at 2012 = 83,000,000.00
Total Cash Equivalent = 1,159,000,000.00 total cash equal ant = 682,000,000.00

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Is there any bad news on COCR

1 Is there any bad news on COCR Thu Sep 19, 2013 11:51 pm

Arena

2 Re: Is there any bad news on COCR Fri Sep 20, 2013 8:55 am

hettdas

3 Re: Is there any bad news on COCR Fri Sep 20, 2013 10:19 am

Arena

4 Re: Is there any bad news on COCR Fri Sep 20, 2013 10:57 am

Gaudente

5 Re: Is there any bad news on COCR Fri Sep 20, 2013 11:59 am

Rapaport

6 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:16 pm

hettdas

7 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:29 pm

ice4083

8 Re: Is there any bad news on COCR Fri Sep 20, 2013 12:59 pm

troy

9 Re: Is there any bad news on COCR Fri Sep 20, 2013 8:53 pm

jks

10 Re: Is there any bad news on COCR Fri Sep 20, 2013 11:03 pm

Arena

11 Re: Is there any bad news on COCR Sat Sep 21, 2013 1:09 am

Slstock

12 Re: Is there any bad news on COCR Sat Sep 21, 2013 8:02 am

Arena

13 Re: Is there any bad news on COCR Sat Sep 21, 2013 8:44 am

balapas

14 http://www.cse.lk/cmt/upload_report_file/1063_1372650643.pdf Sat Sep 21, 2013 10:49 pm

shehani.perera.1612

15 Re: Is there any bad news on COCR Sun Sep 22, 2013 12:34 am

Slstock

16 Re: Is there any bad news on COCR Sun Sep 22, 2013 1:52 am

sriranga

17 Re: Is there any bad news on COCR Sun Sep 22, 2013 2:09 am

Slstock

18 Re: Is there any bad news on COCR Sun Sep 22, 2013 2:13 am

sriranga

19 Re: Is there any bad news on COCR Sun Sep 22, 2013 4:39 am

Slstock

20 Re: Is there any bad news on COCR Sun Sep 22, 2013 6:59 am

shehani.perera.1612

21 Re: Is there any bad news on COCR

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