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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Capital Trust - CBSL Consolidation Plan

Capital Trust - CBSL Consolidation Plan

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1Capital Trust - CBSL Consolidation Plan Empty Capital Trust - CBSL Consolidation Plan Fri Jan 24, 2014 1:50 pm

sriranga

sriranga
Co-Admin

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

jonta999

jonta999
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
where is CDB?  Shocked 

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
There are companies missing in this list.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
If am not mistaken category C is only CFIL? or CIFL goes as not categorized?

davidr


Equity Analytic
Equity Analytic
IF Im not mistaking it has fallen under category B. Its a miracle Cool

http://www.asiacapital.lk

SS

SS
Senior Equity Analytic
Senior Equity Analytic
i think the research is not correct
as per the last interim financial statemnt CDB had 29Bn asset base and according to the list given it should be just below the commercial leasing (29.4Bn) asset base. if you go though the disclosure on CBSL compliance i didnt see any problem. For me its a heavy mistake by the research firm. as i came to know there are in the category A.

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
SMLL has already been merged to PLC.

This report has lot of errors.

grimreaper


Stock Trader
This is obviously a leaked initial draft version of the Plan.

kalum


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanks Sri for sharing. yes. it seems to be having errors, but it given the basic picture of consolidation. Smile

K.Haputantri

K.Haputantri
Co-Admin
Some thing is better than nothing. Thanks.

11Capital Trust - CBSL Consolidation Plan Empty Re: Capital Trust - CBSL Consolidation Plan Fri Jan 24, 2014 11:07 pm

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
This is a research report. Should be moved into that section to maintain forum ethics. 

Errors in this report are so huge, it's hard to believe that a research division of a stock brokering company will publish this kind of report. If it's so it's quite unfortunate.

12Capital Trust - CBSL Consolidation Plan Empty Re: Capital Trust - CBSL Consolidation Plan Sat Jan 25, 2014 12:17 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Guys,  yes this report has some errors.

But when the forum is lacking educational articles, and when someone  puts time to post such , I think we can  take good  info of the article  and forget the bad right?



Last edited by slstock on Sat Jan 25, 2014 1:36 am; edited 1 time in total

sriranga

sriranga
Co-Admin
Please note I posted the above with the good intention, seems to be most of the commenters didn't read the slide 10. Plus as usual couple of commenters thanks for the effort, nowadays which is very rare in this forum.

Anyway I think betterment of Forum ethics, I wish to refrain from posting these type of infos here in future.

Thanks.


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

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@sriranga wrote:Please note I posted the above with the good intention, seems to be most of the commenters didn't read the slide 10. Plus as usual couple of commenters thanks for the effort, nowadays which is very rare in this forum.

Anyway I think betterment of Forum ethics, I wish to refrain from posting these type of infos here in future.

Thanks.



Come on Sri. You are the news line in the forum. You put the first bomb with the dawn of 2014(Daily summary). I don't want the second bomb so early.

15Capital Trust - CBSL Consolidation Plan Empty Re: Capital Trust - CBSL Consolidation Plan Sat Jan 25, 2014 11:26 am

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
It seems there is lot of enthusiasm among forum members on this… MERGER  ( mania? ) .
However ,has anybody paid attention to following FUNDAMENTAL  ISSUES  surrounding this ?

1. A company decides on merger, acquisition of another company/business  or divestment of part of its existing business, primarily based on  changes in  external market  environment and  future business prospects ,growth in ROI etc, .  These important decision affecting whole business, are made  by the SHAREHOLDERS of the company on the recommendation of its Board of  Directors,  after a thorough business study.   Is that process happening here, at least, so far ?

2. As we know, this merger  talk originated from Central Bank.  If the Banks are in compliance with regulatory requirements ,what’s the role of Central Bank in forcing company’s to merge , (which is entirely up to the shareholders to decide) ? Has CBSL  put forward fundamental  economic reasons/justifications for their  forceful attempt ?

3. does anyone remember, there had been some moves in the (not so distant) past to merge DFCC with Commercial Bank  ? Infact  DFCC was holding 30% of commercial Bank at that time   and there were common representation in both Bank boards. Yet, that move failed, after extensive discussions /negotiations over a long  period .  Few years later there were talks among Commercial Bank and NDB for a possible merger of operations. That also didn’t materialized, mainly due to the opposition of Senior Management of Commercial Bank.  Looking at these experiences , is it that simple to merge  established banks ?

4. Yes, there is a problem, with regard to number of finance companies,     competing (cut throat ?) aggressively  in a limited market and problems are now emerging. Situation will aggravate when interest rates tend to rise. But what are fundamental  reasons for this problem?  Who has given  Licenses to these questionable companies?  When they were in trouble , who  forced them to list in stock market ( so that they can avoid the problem temporary ) ?  Will this proposed  mergers  solve the problem ? Is there any written document to that effect ?

16Capital Trust - CBSL Consolidation Plan Empty Re: Capital Trust - CBSL Consolidation Plan Sat Jan 25, 2014 11:41 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Knock,

If we look at reality of Lanka, point 1-3 does not matter when there is an official/higher directive. ( In previous cases it was not mandatory , so  there was ways to get away).  But this time, since Gov is involved ( indiretly) somehow / some body will make it happen if they want to . I won't talk about  ethics here ;-)  I presume you get my point.

Point 4)  Agreed. If they gave licenses  without foresight ( or other reasons) , now when the problem is getting bigger  (and there may be other political reasons) , the decision to merge suddenly become a directive .

I think CIFL crisis  and blames  on CB must have also triggered something for this decision

However, the validity theory (from what I understand)  put here  is , if some financial company gets stronger with balance sheets and bigger, it will grow  in strength  and less likely to crash.  

To be frank, there were far too many financial companies in Sri Lanka. Quite to few were shaky and could have taken depositors for a ride in the future. This is a good move as long as it is done with transparency and fairness to shareholders.

17Capital Trust - CBSL Consolidation Plan Empty Re: Capital Trust - CBSL Consolidation Plan Sat Jan 25, 2014 11:54 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock The problem with finance companies is not the ability build a profitable loan book but the ability to roll over funding to maintain that loan book

The other problem is expenses which ties into the first point. Revenue depends on building a larger loan book which requires funding

In the end the SL banking system is not big enough to fund the large infrastructure projects required. The chinese banks probably have a larger loan portfolio in SL than SL banks  Razz 

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Knock below should interest you

http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=96589

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
@slstock wrote:Knock below should interest you

http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=96589

Yes ,thanks.

There is a related Article in Times also, scheduled seminar will also shed light on this topic.( But ,it seems forum members are not that interested in these aspects,)

http://www.sundaytimes.lk/140126/business-times/public-interest-seminar-on-debacle-of-finance-companies-on-jan-31-80841.html

[ by the way, @ slstock.... MR Senanayaka quotes extensively from , Niall Ferguson - a Harvard academic. Are you familiar with his writings /theories ? ]

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If this consolidation plan was introduced in 2005what would have happened to investors of vanik bank and  poor Justin Meegoda

I strongly belive there is hidden agenda behind this consolidation plan

This may be another unwanted intervention to Financial system of this country

Some people will be  benefited. not the country or financial system

This is my personal opinion

Pl correct me if i am wrong



Last edited by D.G.Dayaratne on Sun Jan 26, 2014 8:31 pm; edited 1 time in total (Reason for editing : correction)

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