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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » PMB - Buy Recommendation from NDB Investment Bank

PMB - Buy Recommendation from NDB Investment Bank

+6
gayanath
Teller
Quibit
slequityanalyst
VALUEPICK
Sstar
10 posters

Go down  Message [Page 1 of 1]

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics

PMB - Buy Recommendation from NDB Investment Bank Image15

PMB - Buy Recommendation from NDB Investment Bank Image13

PMB - Buy Recommendation from NDB Investment Bank Image14

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics

PMB is worth Rs 50 per share. It is Gilmart by People's Bank to hudwink the minority shareholders by offering a price far below market price and the real value.

With all this controversy NDB Investment Bank headed by none other than CSE Chairman Vajira Kulathilaka now recommending this share.

VALUEPICK

VALUEPICK
Expert
Expert

This is a kind of momentum stock to me. In bull market anything can happen to any stock. Remember how KGAL appreciated by more than 100% within the short period.
There are different types of stocks in the market now.
 
Great value stocks having great momentum and strong outlook
Other value stocks
Momentum stocks
Growth stocks
Out of favour stocks which will go up in the remaining stages of current major uptrend
 

BTW Are you buying mood again? Some frontier markets including Sri-Lanka are so fortunate that they have many value stocks and emerging commodities.

VALUEPICK

VALUEPICK
Expert
Expert

We should target few illiquid value stocks as well before they become active in the coming months and quarters. Remember SUN was very illiquid at Rs.30. Now it is trading around Rs.60. Somebody, group or a crowd will come and buy suddenly.

slequityanalyst


Manager - Equity Analytics
Manager - Equity Analytics

Hi Sstar, isn't it a "do not buy" recommendation as per what is produced up here from the Independent Advisor's Report. They recommend not to accept the offer from Offerors. 

When you refered to "NDBIB contraversy" I think you are questioning the indepedence of NDBIB to function as the independent advisors. This has to be looked at in light of other dealings NDBIB has with Offeror/its closely connected parties. I think your skepticism is perfectly fine going by the facts available which I would like to highlight below:

Firstly, the Offerors (PLC.N0000 and People's Bank) have had significant business dealings with NDBIB in the recent past which relationship I assume they would not want to damage by issuing an opinion in contravention to their expectations. For instance, all the PLC debenture issuances as well as their CSE lisitings (including the equity IPO) were handled by NDBIB generating fee based reveneue for NDBIB. (I'm sure they would want to continue that lucrative business in to the foreseeable future and for that they will have to act in the best interest of them rather than acting independently on behalf of the other shareholders! That is a reasonable argument and the board would have avoided even the little bit of this by appointing a totally independent party out of other players). 

Secondly, I'm sure that NDB group has lot of other involvements with People's Bank and PLC. For instance, NDB Wealth Management must be a regular investor in these debentures that NDBIB structure for PLC. Even though this may be of little importance to lack of independence, this I believe will give rise some sort of biasness towards NDB group's investee company, i.e., PLC.

I think the SEC should look in to these things rather than trying to comment on valuations.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

slequityanalyst wrote:Hi Sstar, isn't it a "do not buy" recommendation as per what is produced up here from the Independent Advisor's Report. They recommend not to accept the offer from Offerors. 

When you refered to "NDBIB contraversy" I think you are questioning the indepedence of NDBIB to function as the independent advisors. This has to be looked at in light of other dealings NDBIB has with Offeror/its closely connected parties. I think your skepticism is perfectly fine going by the facts available which I would like to highlight below:

Firstly, the Offerors (PLC.N0000 and People's Bank) have had significant business dealings with NDBIB in the recent past which relationship I assume they would not want to damage by issuing an opinion in contravention to their expectations. For instance, all the PLC debenture issuances as well as their CSE lisitings (including the equity IPO) were handled by NDBIB generating fee based reveneue for NDBIB. (I'm sure they would want to continue that lucrative business in to the foreseeable future and for that they will have to act in the best interest of them rather than acting independently on behalf of the other shareholders! That is a reasonable argument and the board would have avoided even the little bit of this by appointing a totally independent party out of other players). 

Secondly, I'm sure that NDB group has lot of other involvements with People's Bank and PLC. For instance, NDB Wealth Management must be a regular investor in these debentures that NDBIB structure for PLC. Even though this may be of little importance to lack of independence, this I believe will give rise some sort of biasness towards NDB group's investee company, i.e., PLC.

I think the SEC should look in to these things rather than trying to comment on valuations.


http://forum.srilankaequity.com/t43819-frontier-capital-eyeing-peoples-merchant-finance-development-potential-of-nawam-mawatha-108-perches?highlight=peoples+merchant+finannce


PMB - Buy Recommendation from NDB Investment Bank Img_0710


Ceylon Finance Today: Sri Lanka's boutique investment bank Frontier Capital Ltd is eyeing a controlling stake in People's Merchant Finance PLC due to its attraction in a land holding coupled with the investment potential.


By Ravi Ladduwahetty
Ceylon Finance Today: Sri Lanka's boutique investment bank Frontier Capital Ltd is eyeing a controlling stake in People's Merchant Finance PLC due to its attraction in a land holding coupled with the investment potential.

"We already have purchased a 2% equity stake in People's Merchant Bank and we are hoping to increase stake further so that we will get the control of the company, Frontier Capital CEO Nishan Sumanadheera told Ceylon FT late Friday night.
The current shareholding of People's Merchant Finance PLC is People's Bank - 26.13 %, People's Leasing -13.07%, Capital Trust Holdings PLC ( 9.41% + 6.15% + 4.65%) Deut she Bank- 9.9%, CEO Ramanan Govindasamy- 9.61 % and Lakshman Fonseka -9.70%
This is indeed a very valuable asset and the reason why we are wanting to get the controlling stake is due to the 108 perches of land which the company has at Nawam Mawatha with around Rs 1.5B which has not been made use of and which could be developed into a prime property project, Sumanadheera said.
He also expressed confidence of purchasing the Capital Trust Holdings PLC stake in People's Merchant Finance PLC.
Meanwhile, Capital Trust Holdings PLC Managing Director Thushan Wickremesinghe, when contacted, said that he will divest the Capital Trust stake, but only if was at the right price. He also said that there was immense public confidence in the company due to People's Bank and People's Leasing having shares which was reflected in the company attracting deposits.
Sumanadheera also added that he has a Hong Kong based partner who will buy the controlling interest of the company and a Singaporean based property developer who will add value to the Nawam Mawatha property which will realize its full value.
"This is a property whose value could be increased to over Rs 5 Billion and we are confident of reaping at least 10% return per annum on the investment," Sumanadheera said.
He also asserted that the company had a huge goodwill and the brand name from People's Bank and People's Leasing which should be of advantageous as well and that the real challenge was to turn the company into a profit making venture and a super rich stock in the market.

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics

Today is the last day for the acceptance of the mandatory offer. Share should move up from today.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

As I predicted. Share is worth Rs 50/= and it reached only 25/= today I am sure it will reach 35/= next week.

Teller

Teller
Moderator
Moderator

Thanks quibit....PMB will pass 30 levels tomorrow and 35/- levels or near 40/- is possible with in soon. They made a mandatory offer at a bargain price but intelligent investors cant be cheated. So few people subscribed for this and all understood its potential and hidden value now. I believe There will be high buying pressures by tomorrow onwards.....GL

gayanath


Manager - Equity Analytics
Manager - Equity Analytics

Dont tell lies

Invest_Wisely


Manager - Equity Analytics
Manager - Equity Analytics

Teller u said 'PMB will pass 30 tomorrow' what happened? It's still below 26 :-)

gayanath


Manager - Equity Analytics
Manager - Equity Analytics

Me forum eke yana ewa balala trade karannepooooo

Teller

Teller
Moderator
Moderator

PMB deal finalized....be alert on it...trust me or not upto yours....

chamil1


Manager - Equity Analytics
Manager - Equity Analytics

gayanath wrote:Me forum eke yana ewa balala trade karannepooooo

Yes, if people fall for these lies, it's their fault (cannot blame anyone else)

gayanath


Manager - Equity Analytics
Manager - Equity Analytics

Im trade only my mind ...

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Read all the views given. Observe the pros & cons. Do your own homework. Look at market trend. Invest carefully because you are the winner or loser.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

I go by professional recommendations given by NDB investment bank.

slequityanalyst


Manager - Equity Analytics
Manager - Equity Analytics

My argument is that NDB Investment Bank will not give an opinion worrying about us the retail investors as they value their relationship with the People's Bank group (If not they should be a charity!!) So, my belief is that their opinion reflect what the offerors want them to say (rather not a favorable one for minority).

ddrperera


Vice President - Equity Analytics
Vice President - Equity Analytics

slequityanalyst wrote:My argument is that NDB Investment Bank will not give an opinion worrying about us the retail investors as they value their relationship with the People's Bank group (If not they should be a charity!!) So, my belief is that their opinion reflect what the offerors want them to say (rather not a favorable one for minority).
can't recommended this share...

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

I increased my quantity of PMB. Smile
I am going against the tide.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Merged.
http://forum.srilankaequity.com/t46592-please-share-the-ndb-article-regarding-the-pmb#283880

Teller

Teller
Moderator
Moderator

me to collected 32,000 plus so far. One of the major share holder asked 38/- per share to give up their quantity. Lets wait and see the status.

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