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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » FINANCE AND LEASING SECTOR

FINANCE AND LEASING SECTOR

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51FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 7:35 am

EquityChamp


Moderator
Moderator
Is there anyone who really bothered of this. To make the discussion more interesting I have done another analysis comparing not only BLI & SFL but 8 more non commercial banking entities. I have found a really interesting piece of information to share with you. Please refer below table for details.
Rs mnCFINLFINVFINHDFCSFINAFSLBLISFLLOFCCDB
Loans & advances and rental receivable 31st March 2015         55,499          55,959          12,569          23,454          7,841          3,540          3,115          5,041          49,797          29,620
Loans & advances and rental receivable 31st December 2015         61,813          68,067          16,967          26,688          9,509          4,489          5,423          5,349          66,553          38,222
Average loans & advances and rental receivable         58,656          62,013          14,768          25,071          8,675          4,015          4,269          5,195          58,175          33,921
Annualised interest income         12,496          14,020            3,140            6,212          1,941          1,172          2,061          1,089          12,465            6,568
Average Interest Yield (IY)21.30%22.6%21.26%24.8%22.4%29.2%48.3%21.0%21.4%19.4%
IY Rank64735219810
I have collected all the information from the released quarterly financial reports. Interest Yield is calculated by dividing annualised interest income by average loans and advances. Further to simplify the calculation I have assumed the total interest income of these companies generated from loans and advances and lease rentals given to customers.

Now you can look at the IY rank at the last raw. BLI is at the number one followed by AFSL and then HDFC. If you look at the absolute IY% in the proceeding immediate raw you can see BLI is way above the other guys. The gap between no 1 and no 2 is 19.1pp and the gap between no 2 and no 10 is only 9.8pp.

Further you can refer the average for this entire set of companies in below table.
Average for the total 10 companies
Average total loans & advances (Rs mn)         27,476
Average annualized interest income (Rs mn)           6,117
Average IY %22.3%

The average yield is standing @ 22.3% while BLI alone is 48.3%, more than double the average rate. Can you believe this??. According to the published data this is the situation.

Now the main question is how only BLI can generate double the revenue from same class of assets compared to all the peers and even more than double to their sister company, SFL.

In my original post I concluded with a statement that there is something wrong either in SFL or BLI. And this analysis confirms to me SFL is doing normal course of business because their margins are within the average range but BLI is way over. Now I am asking the question whether BLI doing some thing wrong or manipulation here? Are they are following the path of TWOD?

I would like to know the opinion of the BLI lovers on this finding. Especially I want to know the view of Teller who are very favourable on BLI. If this performance of BLI is real and genuine they are far better than other finance companies and every investor should have that share in his/her portfolio. Is it should be the case really??

Experts of BLI, please substantiate.

Thanks

52FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 8:04 am

troy


Moderator
Moderator
Hi EC...
 
I cant see the table fully..,.. only possible up to HDFC. Pls check whether you can do some thing...

Anyway u make this forum worth to follow... thanks.

53FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 8:57 am

EquityChamp


Moderator
Moderator
Ok. I have reproduced the table below. Lets see whether it is ok now.
CompanyAverage loans & advances and rental receivable (Rs mn)Annualised interest income (Rs mn)Average Interest Yield (IY)IY Rank
CFIN                          58,656                       12,496 21.3%6
LFIN                          62,013                       14,020 22.6%4
VFIN                          14,768                         3,140 21.3%7
HDFC                          25,071                         6,212 24.8%3
SFIN                            8,675                         1,941 22.4%5
AFSL                            4,015                         1,172 29.2%2
BLI                            4,269                         2,061 48.3%1
SFL                            5,195                         1,089 21.0%9
LOFC                          58,175                       12,465 21.4%8
CDB                          33,921                         6,568 19.4%10

54FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 9:46 am

troy


Moderator
Moderator
IMO, avg. interest yield should be moderate for a sustainable business... Therefore, BLI is out for me considering the avg. interest as per your calculation... 

However, we have to check whether the extraordinary expansion we saw in BLI last year has a role here(for 48% yield) which is hard to believe..

55FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 10:11 am

Yahapalanaya


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@EquityChamp wrote:Is there anyone who really bothered of this. To make the discussion more interesting I have done another analysis comparing not only BLI & SFL but 8 more non commercial banking entities. I have found a really interesting piece of information to share with you. Please refer below table for details.
 
Rs mnCFINLFINVFINHDFCSFINAFSLBLISFLLOFCCDB
Loans & advances and rental receivable 31st March 2015         55,499          55,959          12,569          23,454          7,841          3,540          3,115          5,041          49,797          29,620
Loans & advances and rental receivable 31st December 2015         61,813          68,067          16,967          26,688          9,509          4,489          5,423          5,349          66,553          38,222
Average loans & advances and rental receivable         58,656          62,013          14,768          25,071          8,675          4,015          4,269          5,195          58,175          33,921
Annualised interest income         12,496          14,020            3,140            6,212          1,941          1,172          2,061          1,089          12,465            6,568
Average Interest Yield (IY)21.30%22.6%21.26%24.8%22.4%29.2%48.3%21.0%21.4%19.4%
IY Rank64735219810
I have collected all the information from the released quarterly financial reports. Interest Yield is calculated by dividing annualised interest income by average loans and advances. Further to simplify the calculation I have assumed the total interest income of these companies generated from loans and advances and lease rentals given to customers.

Now you can look at the IY rank at the last raw. BLI is at the number one followed by AFSL and then HDFC. If you look at the absolute IY% in the proceeding immediate raw you can see BLI is way above the other guys. The gap between no 1 and no 2 is 19.1pp and the gap between no 2 and no 10 is only 9.8pp.

Further you can refer the average for this entire set of companies in below table.
Average for the total 10 companies
Average total loans & advances (Rs mn)         27,476
Average annualized interest income (Rs mn)           6,117
Average IY %22.3%

The average yield is standing @ 22.3% while BLI alone is 48.3%, more than double the average rate. Can you believe this??. According to the published data this is the situation.

Now the main question is how only BLI can generate double the revenue from same class of assets compared to all the peers and even more than double to their sister company, SFL.

In my original post I concluded with a statement that there is something wrong either in SFL or BLI. And this analysis confirms to me SFL is doing normal course of business because their margins are within the average range but BLI is way over. Now I am asking the question whether BLI doing some thing wrong or manipulation here? Are they are following the path of TWOD?

I would like to know the opinion of the BLI lovers on this finding. Especially I want to know the view of Teller who are very favourable on BLI. If this performance of BLI is real and genuine they are far better than other finance companies and every investor should have that share in his/her portfolio. Is it should be the case really??

Experts of BLI, please substantiate.

Thanks
Good one. +rep

56FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 10:16 am

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@EquityChamp wrote:Can you guys read again what I have said here and my last comment. And try to enrich the discussion only if you have valid points to my questions I raised here. if not please don't comment. This is the last I will say.

Thought it is good to compare these two companies since these two are subjected to very hot discussion in this forum. A summary of the comparison given below.



  • BLI has shown a double or triple growth in their loan book as well as interest income while SFL is just normal growth.

  • Also both BLI & SFL have same amount of loan book but BLI earns twice as much as interest income compared to SFL, how come is a question to me.

  • On the other hand both companies have similar amount of interest expenses but BLI finances its loan book mainly from borrowings which are supposed to be higher than customer deposits while SFL mainly finances through customer deposits. In fact SFL's deposit base is more than 100% higher than BLI. Therefore ideally SFLs interest cost should be much less than BLI but it is not the case, why is another question to me.

  • BLI generates much superior ROE compared to SFL and BLI's share price also trading on the floor very aggressively compared to SFL. In fact BLI have very high negative valuation gap whereas SFL has a positive valuation gap. So comparatively BLI is expensive than SFL at the moment.

  • So now my feeling is there is some thing wrong either in BLI or SFL. Now I will open this discussion for the forum members to express more views. In fact that will help to understand true state of affairs of this two.

Good explaination.I also misunderstood that you are justifying SFL and BLI prices.

57FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 12:58 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Also both BLI & SFL have same amount of loan book but BLI earns twice as much as interest income compared to SFL, how come is a question to me.

මීට මාස 3 කට පමණ පෙර මේ ගැන යම් හෝඩුවාවක් ගත හැකි දෙයක් පළ වූව ඉතා සුලු පිරිසක් කියවන අඩවියක​.
ඔවුන් සමාගමේ ක්‍ෂුද්‍රු ණය ගත්ත ගැමියකු ගේ බිලක් ස්කෑන් කර දමා තිබුනා.

එම බිලේ ඉහලින්ම  පොලිය 26% ක් ලෙස සටහන් ව තිබුන​. එමෙන්ම ගෙවන වාරික ගනනය කර තියෙනව ඒ ඒ සති 2 න් 2ට ගෙවන්න​. ගෙවූවාම එහි අදාල තිරුවේ අත්සන් කරනව​.
ණය රු ලක්‍ෂයයි නම් එය මාස 6 කින් ගෙවෙන ලෙස දෙන්නෙ. සති 2 න් 2ට නියෝජිතය එනව කලෙක්ට් කරගන්න​. තව ක්‍රමයක් තියෙනව සුලු ව්‍යාපාරිකයන්ට දෙන​. දවසට 500 ක්  එකතු කරනව​. මේ ක්‍රම කුරුණැගල​, අනුරපුර පෙදෙසේ කෙරෙනව  මමත් දැක තියෙනව​.

වාර්ශික පොලිය​26% කියා සටහන් කලාට මාස 6 න් ගෙවන නිසා සත්‍ය පොලිය 52% ක් වෙනව​.
තවද මෙවැනි සමාගම් ඉතුරු ණයට කෙමෙන් අඩුවන පොලිය ගණනයක් නෑ.  ඒ මිනිස්සු (කස්ටමර්ස්ලා)   එහෙම කළ යුතු බව දන්නේවත් නැ. (Int on reducing balance)

උදා: ණය 100,000.00  පොලිය 26% නිසා 26,000 යි.
ගෙවන කාලය මාස 6 යි. (සති 26 යි.)
126,000 / 26 = 4846.
සති 2 කට වරක් 4846 ක් අරන් යන්න කලෙක්ට් කරන අය එනව​.
ඇත්ත ලෙස බැලුවොත් අවසාන වාරිකය වෙන විට ණය තියෙන්නේ 3846 යි. නමුත් එම මුදලට සති 2 ක් සඳහා රුපියල් 1000 ක් පොලිය ගන්නව​.    අනිත් වාරික සඳහාත් මෙය එලෙසම ක්‍රියාත්මකයි.
මෙම ක්‍රමයේ සත්‍ය වාර්ශික පොලිය ගණන් බැලුවොත් කීයක් එයිද ?

මා කළ දල ගණනය අනුව 100,000 සඳහා අඩුවන මුදලට  සති 2 න් 2  මාස 6 න් ගෙවීමට සම්පූර්ණ පොලිය එන්නෙ 6,750 යි.
නමුත් මේ අය 26,000 ක් ගන්නව​.  ඒ කියන්නේ මුදල් සඳහා 26% ගානෙ සමාගමට වැය උනත් (interest expenditure) ඔවුන් ඒ වගේ 4 ගුණයකට සමාන පොලී මුදලක් එකතු කරනව​. (interest income)  

මෙම සූරා කෑම ට බඳුන් වෙන්නෙ පොලී ගණනයන් ගැන​ නිසි වැටහීමක් නැති දුප්පත්ම අඩියේ ඉන්න ලක්‍ෂ ගානක් ගොවි, ස්වයං රැකියා, සුළු වෙළඳ ව්‍යාපාර ආදීය කරන අය​.

මේ ලෙස මුදල් ගෙවීමට මේ මිනිසුන් නිරපරාදේ දවස පුරා වෙහෙසෙනව​. අවසානයේ කිසිම දියුණුවක් නෑ. දිගටම ණය ගන්නව​. ගෙවනව​.

58FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 1:22 pm

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanks chinwi. Janatha sewakayo mudhal hamba karana eka kramayak.. Mad...Aththatama lajjai

59FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 1:22 pm

EquityChamp

EquityChamp
Moderator
Moderator
What if they don't pay on time? Have they taking any collateral from these far rural communirt?

60FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 1:48 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ EC, thank you for smelling this and posting here.

Actually these rural people protect their pride  than we think.
Defaulting is very low. The collectors come daily after them and all others in the vicinity eagerly watch if someone defaults , which is bad for their social status.
(In towns no one knows such things of others)

Most of the loans are bound by group of 4-5  people. Each and every one in the group is responsible for repayment.

Over 90% of the loans are given to females. Even the 'mudalali' take 50,000 to buy some goods to his 'kade' the finance company gyes ask 'hamine' to sign the docs.

They know ladies will somehow save cash for the next payment date and they are scared to go to police or courts.

61FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 2:22 pm

A+


Manager - Equity Analytics
Manager - Equity Analytics
Thanks Chinwi. So now the rates are high because effectively no collateral and to cover the risks. And payments are high because of daily visit of the collectors and the fear of loss of pride.

62FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 2:31 pm

EquityChamp

EquityChamp
Moderator
Moderator
Chinwi, you have highlighted an important aspect. So this business model is low risk and effective as per your explanation. What is your idea.

63FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 3:30 pm

troy

troy
Moderator
Moderator
This is Blood Money... As I raised earlier, how can they sustain their huge yield??? Once people get to know this?

64FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 6:03 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Actually these methods are used by many unlisted FC s and unlisted susbs of some listed FCs also.


Yes, in contrast to popular belief of high risk type, this has become a very low risk lucrative blood sucking business for these Finance companies.

They use very justifiable looking ways to do this.
In addition to 6 month system, another very popular model is One month loan.

---- ---
I am developing a small plantation in Dry zone and used to go to a small 'Tea kade' in that small town.

We used to chat with  Mudalali during tea time and I get chances to observe how these Finance people are hunting in the area.
-----


Another very popular model is get 10,000 pay 500 .
They give 10,000 and you have to pay just 500 per day for one month.

When I asked why pay like this , they always say,
"මේ වැඩේ හරි වාසියි ලේසියි මහත්තය​. දවසට 500 යි නෙ දෙන්න වෙන්නෙ දහදාහකටම. මාසෙන් ගෙවල ඉවරයි. ඒක හරියට ගෙවන නිසා  ඊළඟ මාසෙට තව 10,000 ක්  ගන්න පුලුවන්.  ඇප තියන්න ඕනැත් නෑ. "
But the FC guys were taught to select the places where they can see assets more than the loan amounts.
"ගෙවන්න බැරිම දවසක් ආවොත් බයිසිකලේ තියල ගෙවල පස්සෙ බේරගන්න පුලුවන් "

So you see this is almost no risk.

In this way they use same 10,000 to offer every month.
The gross return p.m. is 500 x 30 = 15,000.
Gross Profit 15,000- 10,000 = 5000 pm.
5000 x 12 = 60,000 per year.

I am scared to write   capital employed, when I see the return. (60,000) . Is it 10,000 or 120,000 ?

I think it is 10,000 because that is the amount released by FC accounts at the beginning of the year.

Then, what is the % of return 60,000 for capital of 10,000 ?

Usually they select at least 20 people in a small town for the scheme. Collector comes in MoBike covering many villages each day.

Hence paying for his transport and salary is well supported by the very high return.


--- --

When I need extra worker or two I ask that Mudalali to send someone.
Most of the times he himself comes to work assigning his wife to look-after the shop.
He works hard whole day in hot Sun  to get 1000/- in the evening.
I was wondering why.
Lated I found , they also have obtained loans and have to pay 5000/- fortnight and also 1000 per day.  Since the earnings from shop are not enough to pay  back loans he has to work as a labourer.
Loans were used to add more goods to the shop. But they are not capable enough to understand 10% return from sales are not matching the very high loan interest.
This is continuing. As soon as they escape from a loan at the end of a period they get another one.

At the beginning I also thought these FCs cannot continue like this , when people came to know they may reject or go for banks etc. But, now I think they can play this some more time due to business models they use.

( මේ වැඩේ හරි වාසියි ලේසියි මහත්තය​. දවසට 500 යි නෙ දෙන්න වෙන්නෙ. දහදාහකටම​. මාසෙන් ගෙවල ඉවරයි. ඒක හරියට ගෙවන නිසා  ඊළඟ මාසෙට තව 10,000 ක්  ගන්න පුලුවන්.  ඇප තියන්න ඕනැත් නෑ. )  ... and I think these interest calculations are bit complex them to understand . So they will go for the easy way. 500 per day . "හවසට අරක්කු බාගයක් ගත්තත් ඊට වඩා යනවනෙ මහත්තයා. "


This is why I do not buy shares of these FC s even I see profit making opportunities because I see how they make money. I feel sorry for the people in those villages.

65FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 8:07 pm

EquityChamp

EquityChamp
Moderator
Moderator
Very informative and open up an area that we didn't know happening in another part of the island. Now my concern is how BLI doing this very effectively than the other peer companies. They are far ahead even compared to their sister company, SFL. How they are doing it is a puzzle for me.

66FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Fri Apr 22, 2016 8:43 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@EquityChamp wrote:Very informative and open up an area that we didn't know happening in another part of the island. Now my concern is how BLI doing this very effectively than the other peer companies. They are far ahead even compared to their sister company, SFL. How they are doing it is a puzzle for me.

EC, I am not sure but I think Sinhaputra as an old venture was doing much conventional business and was catering different set of clients.

I have no idea of the current situation, if they are linked to Bimputh.

BTW, other than what we discussed I feel there could be some other hidden things in their (BLI) accounting and shown expenses.

Here I remember an old days talk we heard about Ceylinco group's listed finance companies.
- manipulating expenses between each other to show high growth for the selected share. (In 1980s 90 s there was a person who always explaining this openly at the trading floor , instructing us not to buy those stocks )

67FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Sat Apr 23, 2016 5:51 pm

csebrowser


Senior Equity Analytic
Senior Equity Analytic
Thanks chinwi and equity champ....very informative...me too always away form this F C shares...

68FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Mon Apr 25, 2016 8:13 am

EquityChamp

EquityChamp
Moderator
Moderator
This has been very productive so far. One thing missing here is the views of Teller, one of the strong believer of BLI.

Teller, we are waiting for your view on the said subject matter. We are discussing how BLI earns twice of the interest income than the average of the industry itself.

69FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Mon Apr 25, 2016 12:53 pm

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I agree with Chinwi's points on BLI but I have no trust on both SFL & BLI because BLI have been a stake holder of SFL for long time so BLI was watching or supporting firm manupulation on SFL financial statements continuously.

Only 1,081,358 shares left for buyers apart from top 20 share holders at BLI. so why the hell we have to show interest on this share like others. Someone is holding higher quantities and helping for manupulation. On the other hand, it may be producing very high earnings among others but my question is for how long???? So what about others?? Fools??? Or others financial companies do not know the business in rural area???

My opinion is Daya Gamage is not a responsible business person or respectable person. He is just an ordinary business person to make money from scratch regardless of any ethics. He is fully responsible on SFL manupulation financial statements. It doesn't matter that he and his wife are ministers currently but to me they are bloody fraud and they have not got caught yet. The SEC has not taken action on SFL because of Daya Gamage's political involvement. Daya Gamage shouldn't be a politician or business person either.

70FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Mon Apr 25, 2016 5:08 pm

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Guys,
My conclusion is , there is seriously something wrong on both BLI & SFL.

Never think that Mr. Gamage or Mr.Wijeratne family involved and these shares will rock. This is speculation only not in real. Also they are here to make money and not for social work. Also do Gamage family enough time to serve the nation or to look after their financial institutions???? To me this is like making dirty money using politics. So what will happen if Dammikka Perera , Harry Jayawardena, etc.....involved in politics like Gamage???????? Will you accept?? I don't think that it is appropriate in country like Srilanka where there is no genuine financial control.

I am sure that there are many opportunities to make very very good money on buying and selling due to manupulation. If you are involved, my advice is take the profit and stay away. My speculation is that BLI is going to suffer enormously comparing SFL anytime soon.

This can be an example of TWOD.N. But here is the situation is quite different. I believe the share price will fall heavily when something start to burst Due to manupulation and pumping too. I can see pump and dump will really work on SFL & BLI in the CSE very successfully. SFL may be in deep trouble if there is a setup like TWOD.N. In this case Mr.Gamage can simply escape not having the full control. At this stage share price only will be affected very very seriously and not end like TWOD.N.

The economic conditions are not that much favour at the moment so we must be careful to avoid unnecessary losses. On the hand, it seems to be that BLI is a real gambling and SFL is very highly over valued. Both are very very dangerous if we have not entered within the safe zone. There are many opportunities and safe investment in the CSE.

71FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Mon Apr 25, 2016 10:42 pm

EquityChamp

EquityChamp
Moderator
Moderator
Well. Another aspect to look at how these companies fund the loans and advances. In case BLI, they have borrowed heavily to give loans to customers. Which means they are riding on significant finance risk.

72FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Tue Apr 26, 2016 9:26 am

EquityChamp

EquityChamp
Moderator
Moderator
So Teller is still unattended for our discussion. We are waiting to hear from you.

73FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Tue Apr 26, 2016 10:07 am

chamil1


Manager - Equity Analytics
Manager - Equity Analytics
BLI's borrowings is not a problem. Even if they get it from a Bank and give loans at a reasonably higher rate is ok (said that to make my point clear only). Important thing is the loans given by them (quality, risk, quantity, etc).


@EquityChamp wrote:Well. Another aspect to look at how these companies fund the loans and advances. In case BLI, they have borrowed heavily to give loans to customers. Which means they are riding on significant finance risk.

74FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Wed Apr 27, 2016 8:08 pm

EquityChamp

EquityChamp
Moderator
Moderator
So where is our Teller. I am pretty sure that he has read this thread enough but why isn't he joining? May be he is no more in BLI which is I don't know.

75FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Wed Apr 27, 2016 9:41 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
CIFL,TFC,PCHH,LCEM ARE SOME OF THE COMPANIES JUST TRADING ON NO ANY SPECIAL ACTION, BUT YOU CAN UNDERSTAND THAT SFL AND BLI IS MUCH BETTER THAN THEM.

SFL HAS A LONG HISTORY AND IN ITS REPORT THEY ARE SHOWING US ITS VALUE.

IF YOU HAVE SFL, YOU WILL SAY THAT SFL IS  GOOD BUT YOU WILL NEVER SEE ITS REPORT.

ONLY THING I CAN TELL IS THAT SFL WILL MOVE ABOVE 25, THEN YOU WILL SAY SFL IS UNDERVALUED.

THIS REPORT YOU WILL SEE EPS IS 2.50 AND NAV IS 20.82.......BUT YOU WILL TELL THAT SFL IS MANIPULATION, BUT I BELIEVE SFL IS THE BEST COMPANY YOU MUST HAVE AT THE MOMENT.

WITHIN A FEW DAYS YOU WILL SEE THAT SFL IS TRADING AT 25. THEN YOU WILL BUY IT.

NOW BUY SFL AND HOLD ON A FEW DAYS AND YOU WILL SEE ITS VALUE. ALL THE GAMBLERS ARE WAITING UNTIL A SHARE MOVES AND THEN THEY BUY AND THEY WILL HAVE TO BUY AT RISK LEVEL.....!

NOW BUY SFL AND HOLD ON A FEW DAYS...YOU WILL ENJOY BECAUSE YOU BOUGHT AND LOOKERS WILL SUFFER!

THIS IS ONLY MY IDEA, SFL IS THE BEST COMPANY TO BUY AND ENJOY.......FEW SHARES AND SURE PROFIT....!

BUYERS ARE WINNERS, LOOKERS ARE SUFFERS! BE A PLAYER, NOT A SPECTATOR!

76FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Wed Apr 27, 2016 10:59 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@wisdom79 wrote:CIFL,TFC,PCHH,LCEM ARE SOME OF THE COMPANIES JUST TRADING ON NO ANY SPECIAL ACTION, BUT YOU CAN UNDERSTAND THAT SFL AND BLI IS MUCH BETTER THAN THEM.

SFL HAS A LONG HISTORY AND IN ITS REPORT THEY ARE SHOWING US ITS VALUE.

IF YOU HAVE SFL, YOU WILL SAY THAT SFL IS  GOOD BUT YOU WILL NEVER SEE ITS REPORT.

ONLY THING I CAN TELL IS THAT SFL WILL MOVE ABOVE 25, THEN YOU WILL SAY SFL IS UNDERVALUED.

THIS REPORT YOU WILL SEE EPS IS 2.50 AND NAV IS 20.82.......BUT YOU WILL TELL THAT SFL IS MANIPULATION, BUT I BELIEVE SFL IS THE BEST COMPANY YOU MUST HAVE AT THE MOMENT.

WITHIN A FEW DAYS YOU WILL SEE THAT SFL IS TRADING AT 25. THEN YOU WILL BUY IT.

NOW BUY SFL AND HOLD ON A FEW DAYS AND YOU WILL SEE ITS VALUE. ALL THE GAMBLERS ARE WAITING UNTIL A SHARE MOVES AND THEN THEY BUY AND THEY WILL HAVE TO BUY AT RISK LEVEL.....!

NOW BUY SFL AND HOLD ON A FEW DAYS...YOU WILL ENJOY BECAUSE YOU BOUGHT AND LOOKERS WILL SUFFER!

THIS IS ONLY MY IDEA, SFL IS THE BEST COMPANY TO BUY AND ENJOY.......FEW SHARES AND SURE PROFIT....!

BUYERS ARE WINNERS, LOOKERS ARE SUFFERS! BE A PLAYER, NOT A SPECTATOR!
Macho we are missing you!!! Very Happy Very Happy Very Happy

77FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Thu Apr 28, 2016 8:06 am

SLBOY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Yahapalanaya wrote:
@wisdom79 wrote:CIFL,TFC,PCHH,LCEM ARE SOME OF THE COMPANIES JUST TRADING ON NO ANY SPECIAL ACTION, BUT YOU CAN UNDERSTAND THAT SFL AND BLI IS MUCH BETTER THAN THEM.

SFL HAS A LONG HISTORY AND IN ITS REPORT THEY ARE SHOWING US ITS VALUE.

IF YOU HAVE SFL, YOU WILL SAY THAT SFL IS  GOOD BUT YOU WILL NEVER SEE ITS REPORT.

ONLY THING I CAN TELL IS THAT SFL WILL MOVE ABOVE 25, THEN YOU WILL SAY SFL IS UNDERVALUED.

THIS REPORT YOU WILL SEE EPS IS 2.50 AND NAV IS 20.82.......BUT YOU WILL TELL THAT SFL IS MANIPULATION, BUT I BELIEVE SFL IS THE BEST COMPANY YOU MUST HAVE AT THE MOMENT.

WITHIN A FEW DAYS YOU WILL SEE THAT SFL IS TRADING AT 25. THEN YOU WILL BUY IT.

NOW BUY SFL AND HOLD ON A FEW DAYS AND YOU WILL SEE ITS VALUE. ALL THE GAMBLERS ARE WAITING UNTIL A SHARE MOVES AND THEN THEY BUY AND THEY WILL HAVE TO BUY AT RISK LEVEL.....!

NOW BUY SFL AND HOLD ON A FEW DAYS...YOU WILL ENJOY BECAUSE YOU BOUGHT AND LOOKERS WILL SUFFER!

THIS IS ONLY MY IDEA, SFL IS THE BEST COMPANY TO BUY AND ENJOY.......FEW SHARES AND SURE PROFIT....!

BUYERS ARE WINNERS, LOOKERS ARE SUFFERS! BE A PLAYER, NOT A SPECTATOR!
Macho we are missing you!!! Very Happy Very Happy Very Happy

Hey Brother

Don't say like that. Becz tomorrow will fire and hammer SFL to the moon. Not in CSE but in all topics of this forum.

78FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Thu Apr 28, 2016 7:17 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
BLI HAS GIVEN A DIVIDEND, YOU ARE JUST CHATTING HERE, BUT EVEN SFL IS ALSO THE BEST ONE, CHEATING PEOPLE, SOME ONE STOLE YOUR SHARES. WHEN YOU SELL FOR LOST ANOTHER WILL BENEFIT FROM IT, EVEN SFL ALSO WILL OFFER A HUGE DIVIDEND. THEN ALL WILL BE SILENT, NEVER BELIEVE WHEN DOGS BARK.

SFL WILL BE THE BEST BUYN AND HOLD!

79FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Thu Apr 28, 2016 7:21 pm

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Awa awa awa pachoris aith awa.WISDOM79 aluthen promote karana mukut nadda machan?????tama sfl da?????

80FINANCE AND LEASING SECTOR - Page 3 Empty Re: FINANCE AND LEASING SECTOR Thu Apr 28, 2016 8:49 pm

SLBOY


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Ane itin me SFL topic eke fun gan natiwa, apitath oka aragena hira wennada kiyanne.

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