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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CTC - Real victim of SGT. Next is probably NEST.

CTC - Real victim of SGT. Next is probably NEST.

5 posters

Go down  Message [Page 1 of 1]

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

CTC has paid SGT nearly Rs 20.34 from its single share. Total paid Rs 3810 million.
NAV in Dec 2015 was Rs 15.41.( NAV in Sep 2015 was Rs 39.57)
Its quarterly earnings and revenue are down in Dec 2015 comparing in 2014 Dec.
Also they are paying dividends as well. Think about the NAV on XD!!!!
Economic conditions are not good also. Ex- interest rates hike.....etc...
Controversial production in the market

My opinion
---------------
Guys exit as quick as possible.
It will reach very very low without doubt....... I don't want to guess how much it will reach. Also ASPI level then??????
I think this is the bad situation for CTC and its future.
If things happen as I told, then it is the diagnostic results of cancer for the Srilanka's economy. Very very bad idea was taken by the finance minister. He tried to solve something but ended something. It seems to be having inexperienced advisors in Srilanka for finance minister. If anyone knew about this s then no one would make biggest mistake like this.

Teller

Teller
Moderator
Moderator

True. Agree with you.

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

I believe that CTC is the real victim of SGT and then continue with NEST , LLUB.......
LLUB's NAV has gone down around 25% comparing previous quarter.
Let's see how NEST is going to suffer.

The real risk in the future with CTC is very very high comparing NEST ,LLUB....... because of the CONTROVERSIAL PRODUCTION.

Brinthan

Brinthan
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Guys what do u mean by SGT ?

VALUEPICK

VALUEPICK
Expert
Expert

Super Gain Tax (SGT)

If I am correct this tax will not implement in the future. As a result of this,Profits of few companies came down during quarter ending December 2015. Their profit should go up in the coming 4th quarter ending December 2016.

Brinthan

Brinthan
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Thanks valuepick...But last budget Gvt reduced commercial tax from 28% to 15%...Someone told this change increase Nestle profit from another 1bn...It is true....??

VALUEPICK

VALUEPICK
Expert
Expert

Thank you for your intelligent question. It should reflect in 2016. If I am correct, it is going to be effective from 01.04.2016. They have increased corporate income tax by 2% from 28% to 30% for banks, finance and insurance. If they have increased by more than 10% then it can make some differences in profits.
 
Corporate income tax Income tax rate changes
 
The corporate income tax structure
 
They have introduced two band rates

  • 30% rate on income from: banking and finance including insurance, leasing and relating activities; trading activities other than manufacturing or providing services; and betting and gaming; liquor; tobacco. In addition, a 25% surtax will apply to the income tax liability imposed on the businesses of betting and gaming; liquor; tobacco. 


  • A 15% rate on all other sectors, mainly including all services, manufacturing and agriculture.

In the coming quarters companies are going to benefit form lower corporate tax, lower commodity prices and lower cost of production etc. I think it is time to identify and hunt companies which are going to benefit from all fronts.
 
Thank you for your intelligent question again.It gave me some good  ideas and information.
 

Good luck!

EquityChamp

EquityChamp
Moderator
Moderator

Dialog and SLT too hit by SGT plus forex losses. Think this will not hamper them in 2016.

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yeah and also they are affected from the budget as well.

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