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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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21Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Sun Sep 22, 2013 1:52 am

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/

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

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

23Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Sun Sep 22, 2013 2:13 am

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/

24Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Sun Sep 22, 2013 4:39 am

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

25Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Sun Sep 22, 2013 6:59 am

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

26Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Sun Sep 22, 2013 10:33 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
I see the growth in this company but its aggressive.. I wanted to allocate some higher portion of my controlling portfolios but still has not made up my mind due to some doubts in this micro finance thing.

Sure 5B micro finance is a great liability but what if the ppl default the payments? MF yields a higher interest rate than any of us would get from a loan so it can sometimes be a burden. i.e. when a small scale entrepreneur gets a laon and repaying, he may find it awkward rite?

Arena,

Ur the accounts pro here.. Why wouldn't u go thru the reports and get these things clear out for out. Would be a normal effort.

27Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Tue Oct 08, 2013 9:49 am

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Arena wrote: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.........

I was going through SL mirror since another thread mentioned it and came across this

http://www.srilankamirror.lk/biz/10841-exploiting-microfinance-show-profit

I see lot of inaccuracies in this thread. One of my friends works for a bank that is the major lender to COCR and a senior guy at another company that deposit excess money with them. Both said no issues and rumors were spreading so they checked as well. This is what I researched last night.

1. They claim interest rate of 50% is high but dont take it from me, here you will see http://www.microfinance.lk/microfinance_in_sri_lanka_literature.php (Lanka micro finance practitioners association website) that under one scenario of collection the interest rate is 51%. So whats wrong here? There is talk about a cap on interest rates for micro financing but that bill which will other aspects is not yet finalized. Last bill was rejected because GOVT tried to politicize it.

2. I dont see Rs5bn lent to them to use for micro financing they should be using public deposits.

3. Spending 280mn last year on advertising. What is wrong here? SL mirror claims its using public deposits. A finance company can spend the money from deposits for advertising, where does it say can not? They can use to lend or spent on other things. Anyways when interest income is over Rs4bn last year they dont need to use deposits for day to day spending. According to their Finance director, COCR monthly collection has gone up to RS2bn.

Unless the management decide to be dodgy in the future at the moment do not see an issue. Business model is risky thats understood. They need to improve the asset quality also which you can read up looking at the credit rating report.

There was a claim on Bartleet finance also http://www.srilankamirror.lk/biz/10861-bartleet-s-546-m-gone-missing . I did not have the time to check on this.



28Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Fri Jan 24, 2014 1:11 pm

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If anyone bought without trusting wrong claims against COCR between 10.20 - 10.40 those days like me you got a very good gain.  Wink 

29Is there any bad news on COCR - Page 2 Empty Re: Is there any bad news on COCR Fri Jan 24, 2014 2:40 pm

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
14:40:16
@balapas wrote:If anyone bought without trusting wrong claims against COCR between 10.20 - 10.40 those days like me you got a very good gain.  Wink 

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