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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka finance companies asked to merge, tax breaks for listing

Sri Lanka finance companies asked to merge, tax breaks for listing

+2
kalum
LSE
6 posters

Go down  Message [Page 1 of 1]

LSE

LSE
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Nov 21, 2013 (LBO) - Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge, President Mahinda Rajapaksa said.
Finance companies play in a sub-prime sector catering to riskier customers that are not served by banks.

President Mahinda Rajapaksa who is also finance minister said banks, finance, insurance and manufacturing companies that are now charged 28 percent corporate tax will get tax breaks for listing.

Companies that list will get a three year tax holiday at half the rate.


http://www.lankabusinessonline.com/news/sri-lanka-finance-companies-asked-to-merge,-tax-breaks-for-listing/1061535532

kalum


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
15.01 - Colombo Stock Exchange (CSE) is now stable. Three year half tax relief when listing new companies on the CSE. Smile

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
We need to find these

"Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge"

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@slstock wrote:We need to find these

"Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge"
one candidate could be the Alli / Arpico Finance Merger. although not sure whether technically in a parent / subsidiary relationship. but certainly an associate company with common shareholders.

guesstimate - Alli issues approx 570,000 new Alli shares to Arpico Finance shareholders in a ratio of approx 1 new Alli share for every 8 existing Arpico shares.

In an merger, both shareholders stand to gain. however, considering the current prices & 6 months performance of both and NAV, there is a slight anomaly in the relative current market prices, alli = 800, arpico = 105 ?

nkuda


Manager - Equity Analytics
Manager - Equity Analytics
What about People's Leasing (PLC) and People's Bank , They need to be merged ?

mdcpk1975


Manager - Equity Analytics
Manager - Equity Analytics
What about Mr. Dammika Perera merging SAMP, LFIN, VFIN and may be PABC.....

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