Abans Finance (AFSL) to merge with DDFC

Sstar · 1 Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 7:59 am

Sstar

Vice President - Equity Analytics

Posts : 1416
Equity Stars : 8033
Reputation : 51
Join date : 2011-11-01

Deshodaya Development Finance Company Ltd. (DDFC), coming under the Sarvodaya umbrella, is a licensed finance company in the country which obtained the license in 2013. According to reliable sources DDFC has signed a MOU with Abans Finance (AFSL) to merge the two finance companies as per the capital requirement of the Central Bank.

According to sources Book value of DDFC is around 600mn whereas Abans Finance (AFSL) Book Value is less than Rs 500mn. Therefore upon merger DDFC being the stronger partner, is likely to hold majority shares. This move is likely to benefit Abans Group, and its FMCG business due to the extensive network of Micro Finance customers DDFC possess.

Information about DDFC:
http://www.ddfc.lk

DDFC Annual Report:
http://www.ddfc.lk/downloads/annual_%20report_2013.pdf

Abans Finance Interim Accounts:
http://www.cse.lk/cmt/upload_report_file/1069_1392287820780.pdf

Abans Finance (AFSL) to merge with DDFC Screen23

Abans Finance (AFSL) to merge with DDFC Screen23

spadumadasa

spadumadasa

Stock Trader

Posts : 1
Equity Stars : 3689
Reputation : 0
Join date : 2011-03-21

@Sstar wrote:Deshodaya Development Finance Company Ltd. (DDFC), coming under the Sarvodaya umbrella, is a licensed finance company in the country which obtained the license in 2013. According to reliable sources DDFC has signed a MOU with Abans Finance (AFSL) to merge the two finance companies as per the capital requirement of the Central Bank.

According to sources Book value of DDFC is around 600mn whereas Abans Finance (AFSL) Book Value is less than Rs 500mn. Therefore upon merger DDFC being the stronger partner, is likely to hold majority shares. This move is likely to benefit Abans Group, and its FMCG business due to the extensive network of Micro Finance customers DDFC possess.

Information about DDFC:
http://www.ddfc.lk

DDFC Annual Report:
http://www.ddfc.lk/downloads/annual_%20report_2013.pdf

Abans Finance Interim Accounts:
http://www.cse.lk/cmt/upload_report_file/1069_1392287820780.pdf

thighrokker · 3 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 8:14 pm

thighrokker

Manager - Equity Analytics

Posts : 102
Equity Stars : 3747
Reputation : 8
Join date : 2011-05-27

@Sstar wrote:.....According to reliable sources

What is this reliable source?
Who wrote this article anyway? You have not mentioned the source of the article itself. Are you the author?

jonta999 · 4 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 8:23 pm

jonta999

Senior Manager - Equity Analytics

Posts : 375
Equity Stars : 3857
Reputation : 10
Join date : 2012-01-28
Location : Unknown

@thighrokker wrote:

@Sstar wrote:.....According to reliable sources

What is this reliable source?
Who wrote this article anyway? You have not mentioned the source of the article itself. Are you the author?

This same person who posted a thread linking GSF to mahapola fund.

When i asked about the source this person deviated from the core discussion and accused me.

So owners should be careful when appointing such persons as admins/mods.

Sstar · 5 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 10:00 pm

Sstar

Vice President - Equity Analytics

Posts : 1416
Equity Stars : 8033
Reputation : 51
Join date : 2011-11-01

Yes I have been specifically told by the Forum Management not to tolerate you because you have been trying to promote other forum through this. It is a disgrace for you and the so called promoters of other forums!! If you want to market it, market it elsewhere without being a nuisance to this forum

How could I give a source for an article if it is still not made news. If someone wants to believe it and watch the share carefully, it is upto them, other could just ignore it.

Success of this forum depends on ability of its members to give leads to the others. So don't shoot the messenger!

@jonta999 wrote:

@thighrokker wrote:

@Sstar wrote:.....According to reliable sources

What is this reliable source?
Who wrote this article anyway? You have not mentioned the source of the article itself. Are you the author?

This same person who posted a thread linking GSF to mahapola fund.

When i asked about the source this person deviated from the core discussion and accused me.

So owners should be careful when appointing such persons as admins/mods.

Deshadaya · 6 Re: Abans Finance (AFSL) to merge with DDFC Mon May 05, 2014 10:09 pm

Deshadaya

Stock Analytic

Posts : 12
Equity Stars : 2568
Reputation : 0
Join date : 2014-05-05

Why misleading the others?

Central Bank is yet to release the due diligence and valuation reports to show the book values and consider ownership stakes and decide on controlling interest .

All parties are at preliminary discussion stage. It may be too early to sign MOU's.

What is required is synergies and value additions to strengthen the Financial sector.

This may be an action of staff members DDFC or a group who are not certain of his position after merger.

Please ignore the comments.

jonta999 · 7 Re: Abans Finance (AFSL) to merge with DDFC Mon May 05, 2014 11:16 pm

jonta999

Senior Manager - Equity Analytics

Posts : 375
Equity Stars : 3857
Reputation : 10
Join date : 2012-01-28
Location : Unknown

Ha ha Sstar your reputation is degrading day by day.

That's why we want RELIABLE articles/news regarding any matter.

BTW I don't have any personal grudge against you

SHARK aka TAH · 8 Re: Abans Finance (AFSL) to merge with DDFC Tue May 06, 2014 12:31 am

SHARK aka TAH

Expert

Posts : 4365
Equity Stars : 7837
Reputation : 204
Join date : 2013-08-01

By the time news come out to open, the shares would appreciated hugely.
One should exercise his or her own discretion, when following leads.
As quiet rightly said by my colleague, one should choose whether to follow or not to follow Smile

Good Luck
Shark

Deshadaya · 9 Re: Abans Finance (AFSL) to merge with DDFC Mon Jun 02, 2014 8:54 pm

Deshadaya

Stock Analytic

Posts : 12
Equity Stars : 2568
Reputation : 0
Join date : 2014-05-05

DDFC's Head of Credit and recoveries has retired and the Chief executive officer has been requested to submit my resignation. lol!

Who is taking over whom???Sstar?
Have you made your money???

Sponsored content

Latest topics

Abans Finance (AFSL) to merge with DDFC

1 Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 7:59 am

Sstar

2 Many Financial institutions have already entered into agreement presently being evaluated by a board as per news. TFC and SMIB is likely to get merged as inferred by many Sun May 04, 2014 2:21 pm

spadumadasa

3 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 8:14 pm

thighrokker

4 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 8:23 pm

jonta999

5 Re: Abans Finance (AFSL) to merge with DDFC Sun May 04, 2014 10:00 pm

Sstar

6 Re: Abans Finance (AFSL) to merge with DDFC Mon May 05, 2014 10:09 pm

Deshadaya

7 Re: Abans Finance (AFSL) to merge with DDFC Mon May 05, 2014 11:16 pm

jonta999

8 Re: Abans Finance (AFSL) to merge with DDFC Tue May 06, 2014 12:31 am

SHARK aka TAH

9 Re: Abans Finance (AFSL) to merge with DDFC Mon Jun 02, 2014 8:54 pm

Deshadaya

10 Re: Abans Finance (AFSL) to merge with DDFC

Sponsored content