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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » COCR.N0000 Commercial Credit Finance PLC Thai deal

COCR.N0000 Commercial Credit Finance PLC Thai deal

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PrasannaMani


Manager - Equity Analytics
Manager - Equity Analytics
Hi everyone.looks like early in the morning getting hot.

bounce bounce bounce bounce bounce bounce bounce bounce bounce bounce

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
There may be few advisers in broker firms in real term. Most of such people are nominal & just representatives. Out of professionalism & ethics.

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Hi everyone.looks like early in the morning getting hot.

bounce bounce bounce bounce bounce bounce bounce bounce bounce bounce
You mean temperature affraid affraid affraid affraid 

COCR.N0000 Commercial Credit Finance PLC Thai  deal - Page 2 Htyty610

PrasannaMani


Manager - Equity Analytics
Manager - Equity Analytics
Forum and Temperature both.


Razz Razz Razz Razz Razz Razz Razz Razz Razz Razz

Maxime


Senior Equity Analytic
Senior Equity Analytic
@PrasannaMani wrote:Ceylon Finance Today: Thai motorcycle leasing company Group Lease PCL yesterday (03) said that they had acquired a 29.99% or 95.3M share stake of Sri Lanka's listed Commercial Credit and Finance (stock code-COCR) for Rs 10,588,345,500 or Rs 10.5B.
The sellers will be BG Investments, Creation Investments and Stephen L. Lafrance Jr, they said. The selling price per share is Rs 111 and yesterday (3) COCR closed at
Rs 54.10 up Rs 1.40 or 2.66%. Group Lease which is a part of Japan's Wedge Holdings Co now has the right to buy the remaining 70 % in COCR if existing shareholders want to sell the stake, Chairman and Chief Executive Mitsuji Konoshita told an overseas joint news conference.

Commercial Credit and Finance (CCF) has assets of $500M, of which one-fifth is in the microfinance business, and expects a net profit of $22M this year, CCF Chief Executive Roshan S. Egodage said
Listed microfinance company Group Lease (GL) plans to collaborate further with CCF to strengthen its microfinance businesses in Indonesia and Cambodia after GL acquired a microfinance company in Myanmar from a CCF shareholder.
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar, a subsidiary of CCF, from BG International Private, a holding company based in Sri Lanka owned by Roshan S. Egodage, who is also chief executive officer of CCF.

GL chairman and CEO Mitsuji Konoshita said the transaction would be made via GL Holdings (GLH), its holding company in Singapore. Egodage said he decided to sell shares to GL because of strict restrictions by the Sri Lankan authorities on capital outflows. GL's successful digital finance business model will contribute to BG Microfinance's rapid expansion while the GL finance model will be implemented in all other countries where GL operates, especially Indonesia and Cambodia, where there are enormous growth opportunities, he said.
CCF does not have a footprint in Indonesia or Cambodia, so collaboration with GL will provide the Sri Lankan firm scope to broaden its operations, Egodage said. Konoshita said GL was ready to inject $6.8M into BG Microfinance to have branches in 12 districts in Myanmar, up from only three now.
"We hope that BG Microfinance's portfolio will dramatically increase from $30M to $40M next year, and monthly profit should increase by 10 times from the current total," he said. Myanmar is providing a big opportunity for GL as it is an emerging market and only five players including BG Microfinance are there, he said. Furthermore, authorities are not giving out any new microfinance or hire-purchase licences. Therefore, it is a great opportunity for GL to expand its market share.
GL recently announced net profit in the second-quarter of THB 255.85M, raising its total first-half profit to THB 478M.
(IG)
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar.

COCR Mandatory offer Announcement Still Pending and Highly expecting at 111.00

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
http://www.set.or.th/set/newsdetails.do?newsId=14778709831250&language=en&country=US

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0



Changes as per GL

Maxime


Senior Equity Analytic
Senior Equity Analytic
@PrasannaMani wrote:http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0



Changes as per GL

thanks for clear information,  COCR 74% takeover but mandatory offer still pending because of share holders approval any time this Announcement can come at 111.00

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Maxime wrote:
@PrasannaMani wrote:http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0



Changes as per GL

thanks for clear information,  COCR 74% takeover but mandatory offer still pending because of share holders approval any time this Announcement can come at 111.00


they are not taking 74%. 29.99% first time. maybe in future they will buy more quantity

if thy want they can go for mandatory offer buying another 32K stocks 

COCR is good stock better to collect at this level.

will see......

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

News Detail

Date/Time 01 Nov 2016 17:28:46
Headline Notification of the acquisitions of shares in Companies in Sri Lanka and Myanmar (revised)
Symbol GL
Source GL
Full Detailed News Download Full Detailed News
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:
News Detail

Date/Time 01 Nov 2016 17:28:46
Headline Notification of the acquisitions of shares in Companies in Sri Lanka and Myanmar (revised)
Symbol GL
Source GL
Full Detailed News Download Full Detailed News
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0
Still working hard on COCR??????????? Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy

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