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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Is there any bad news on COCR

Is there any bad news on COCR

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

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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.........

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

hettdas

hettdas
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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

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

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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.

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

Gaudente


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

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

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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!

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

hettdas

hettdas
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@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.

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

ice4083


Senior Equity Analytic
Senior Equity Analytic
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.

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

troy

troy
Moderator
Moderator
yeas they are paying a dividend of 0.50

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

jks


Equity Analytic
Equity Analytic
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.

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

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Yep........
It is clear and thanks fro the info.

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

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
It can be cleared up 2 ways? Which way is is Arena?



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

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

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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.

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

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

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
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

shehani.perera.1612
Equity Analytic
Equity Analytic
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.

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

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
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.

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

sriranga

sriranga
Co-Admin
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

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

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

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
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

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

sriranga

sriranga
Co-Admin
@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

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

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

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
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

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

shehani.perera.1612

shehani.perera.1612
Equity Analytic
Equity Analytic
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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