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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Cargills to acquire SEMB ?

Cargills to acquire SEMB ?

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1Cargills to acquire SEMB ? Empty Cargills to acquire SEMB ? Sun Jul 06, 2014 4:49 am

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Cargills officially opens banking sector, seeking to acquire another bank or leasing company

By Quintus Perera
View(s):

Cargills, the consumer marketing giant, has diversified into banking and this week officially opened the Cargills Bank head office in Colombo.


Lalith Weerartunga - Secretary to the President, Ajith Nivard Cabraal – Central Bank Governor and Ranjit Page – Deputy Chairman, Cargills Bank at the opening. Pic by M.A. Pushpa Kumara
After the ceremonial opening of this bank, Harris Premaratne, MD/CEO, Cargills Bank responding to a query from the Business Times said the bank fitted (well) into the consolidation process of the country’s financial institutions.

The bank is also looking to acquire another finance or leasing company under the consolidation process.

The capital of the bank is Rs. 5 billion with the base and the major contributors to this investment are Cargills (Ceylon) PLC and Ceylon Theatres Holdings PLC along with International Finance Corporation (IFC), German Investment Bank and some big corporates in the country.

Three more branches within the Colombo metropolis are to be opened by the end of this year. Mr. Premaratne said that they would be engaged in normal banking practices such as dealing with big corporates but they would stand out in helping the small entrepreneurs with micro financing – banking for the poor. This process would invariably be there when they establish their branch network alongside Cargills retail marketing outlets spread all over the country. When they cater to the banking needs of the rural poor, they would have to be different, making the banking simpler, he asserted.

With 45 years of solid banking experience having served at Commercial Bank and Sampath Bank, Mr. Premaratne said that becoming a part of the Cargills Bank is a unique opportunity as new banks are not opened often. The responsibility of opening a bank does not come to everybody and is a big challenge, he pointed out.

Louis Page, Chairman, Cargills Bank Ltd, speaking at the opening said that while certainly capitalising on all industry opportunities and avenues, what is most important to a bank is striving for a unique point of differentiation.

The Board of Directors of the Cargills Bank are Louis Page – Chairman; Ranjit Page – Deputy Chairman; Harris Premaratne – MD/CEO; Prabu Mathavan – Deputy MD/CFO; Deva Rodrigo, Mangala
Boyagoda and Ms Kamalini De Silva.


http://www.sundaytimes.lk/140706/business-times/cargills-officially-opens-banking-sector-seeking-to-acquire-another-bank-or-leasing-company-105569.html

2Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 10:59 am

BullvsBear

BullvsBear
Senior Equity Analytic
Senior Equity Analytic
Hi Sanju 351,

Will it happen during the month of July ?
I entered at 1.30 last week... Smile

3Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 11:18 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
yes.


fixed price is Rs 1.20.

4Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 11:21 am

BullvsBear

BullvsBear
Senior Equity Analytic
Senior Equity Analytic
@Harry82 wrote:yes.


fixed price is Rs 1.20.

I don't think so Harry...
It should be some where around 1.80Rs-2.00Rs.. Razz

5Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 11:25 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
No.

Net Asset is only Rs 0.55.

fixed price is Rs 1.20.( 0.55 x 2 = 1.10+ 0.10)

6Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 11:28 am

BullvsBear

BullvsBear
Senior Equity Analytic
Senior Equity Analytic
@Harry82 wrote:No.

Net Asset is only Rs 0.55.

fixed price is Rs 1.20.( 0.55 x 2 = 1.10+ 0.10)

Will see Brother... cheers 

GL

7Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 4:45 pm

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Harry82 wrote:yes.


fixed price is Rs 1.20.

Nope you are not considering the Business value of SEMB and Ashok Leyland agreement which says SEMB will be the only leaser for Ashok Leyland Products in North and east - Cargills also targeting under developed North East Market for their banking and Leasing activities m

Target Price is well beyond LKR 2 .

See the Brains of Dr.Senthil - he collected a huge quantity recently - and his average price is around 1.90 - will he do a foolish thing ?

Any way think about the value of the share when it comes under highly illiquid high valued Cargills ?

You never Know where SEMB may end up may be well beyond LKR 3-4

8Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Sun Jul 06, 2014 4:47 pm

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Harry82 wrote:yes.


fixed price is Rs 1.20.


Hey Mr Harry dont play the trick to collect @ 1.20 ..
For sure iy will now never come down to 1.20 as according to CBSL meregers will happen by Aug 2014 ...

Days are numberd

9Cargills to acquire SEMB ? Empty Re: Cargills to acquire SEMB ? Mon Jul 07, 2014 5:45 am

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Net Asset is only Rs 0.55.???

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