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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » JOHN KEELLS HOLDINGS PLC (JKH.N0000)

JOHN KEELLS HOLDINGS PLC (JKH.N0000)

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21JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 2:32 am

UKboy


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kukumarx wrote:Keels are planning a huge development in their Glennie street property. This is the land on which JKH office is located and the Ceylon Cold Stores Land. I feel they will probably hold on to their reserves for this development.
. Yes you have a valid point here. So far they have been really quite on this.

22JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 10:08 am

raptor


Manager - Equity Analytics
Manager - Equity Analytics
@VISA wrote:what about buy back

Usually a company buys back shares when they think they are undervalued, JKH isn't undervalued. If you want to return money to shareholders its cheaper to up the dividend.

23JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 10:43 am

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
JKH is planning on a mega mixed development on its approx 10 acres land bank in Glennie Street, Slave Island. Total project cost is approx usd 500-600 million. CCS may get equity share in new project for their land contribution. This project will be done in stages over 10 years. The project costs will be financed by a mix of available cash, Equity and Debt capital. the Equity portion may be financed by a private placement to a strategic investor or rights issue. so its safe to assume that you can forget about money being returned to shareholders through high dividends or share repurchases.

24JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 2:43 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
What does mega mixed development include? Hotel, Housing & office building etc..well, if the planning stage is going on, funds from right issue will be one part of the capital sources.

25JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 3:27 pm

kukumarx


Manager - Equity Analytics
Manager - Equity Analytics
@worthiness wrote:What does mega mixed development include? Hotel, Housing & office building etc..well, if the planning stage is going on, funds from right issue will be one part of the capital sources.

I hear it will also include a casino. More info on the project (including pictures) in this thread

http://www.skyscrapercity.com/showthread.php?t=1566097



Last edited by kukumarx on Sat Feb 16, 2013 9:05 pm; edited 2 times in total (Reason for editing : info added)

26JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 4:25 pm

mark

mark
Expert
Expert
il be very happy to see JKH owned by foreigners Very Happy

btw right issue will make a good damage to ASI and it will shy away current retailers from JKH :p

27JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Feb 16, 2013 7:11 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
To motivate the retailers & keep them in tact, split is the solution.
I am not sure it is legal or any implications to go with share split after rights issue process.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
July 11, 2013 (LBO) - A mixed resort project in Sri Lanka's capital Colombo by listed John Keells group will involve investments up to 850 million US dollars, officials said.
Investment promotions minister Lakshaman Yapa Abeywardene, said Thursday the project has been approved by the state investment agency, the Board of Investment of Sri Lanka, which gives tax holidays.
JKH said in a statement Wednesday it is building an 'integrated resort' but made no mention of gaming, though the project is widely expected to have a casino.

Minister Abeywardene said the promotors could operate a casino in the premises if they wanted to but the government had not issued a license.


No information was provided on a specific foreign partner.
BOI director general Lakshman Jayaweera said the project expects to raise up to 300 million dollars from a number overseas investors through a rights issue.
The project firm Waterfront Properties (Pvt) Ltd, will get a 10 year tax holiday, dividend tax exemption for 11 years, customs duty exempted for capital imports, value added tax and airport and port development levy for five years.

Up to 20 employees to be exempt from pay as you earn tax for five years.

The project will have a luxury hotel, convention centre, entertainment facilities, a shopping mall, luxury condominiums, serviced apartments and office space.

http://www.lankabusinessonline.com/news/sri-lanka-john-keells-mixed-resort-investment-up-to-$850mn/2021753490

29JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 5:35 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If above statement is true, They should go for right issues at least on two different occasions.

Above is roughly equal to Rs 80.00 per share.

30JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 6:48 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@smallville wrote:I dont see the logic of rights..

They have cash, at least to go for rights, do they eye for new investments?

They shouldn't do anything other than giving a good dividend as raptor pointed out.

I asked this in Feb cuz they didnt have anything important up in their sleeves to highlight them as I cud remember as the biggest conglomerate in SL  and out of no where now they're proposing the Govt. over $650 mil mega project, a luxry resort in their CCS's own land..

Geez.. If this fund thru rights, then I'm in a doubt of the 300-400 goal. As we've always seen that rights in smaller numbers are a failure while 20,30 rights for 1 share were hit the roofs.. Less rights are really good for the share price to hold on to a much manageable level. It doesn't bring the NAV to decrease in big numbers.. But our market?? Sigh!!!

But look at the good things here.. Its a BOI project - means there are tax concessions, may be for 5-10 years less or free tax period would be the one they're looking at. Then the job opportunities it creates, the foreign revenue it attracts, foreign investments that come in seeing a major project handled by the largest conglomerate in SL are the best things that our country and Govt can expect.

31JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 7:13 pm

CSE.SAS

CSE.SAS
Global Moderator
@UKboy wrote:If above statement is true, They should go for right issues at least on two different occasions.

Above is roughly equal to Rs 80.00 per share.

I don't think JKH go for rights...



32JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 8:23 pm

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sure there will be big change in JKH share price [over 30% Change - over Rs. 80/-] within a year time......

But this could be either.....
1. if Positive change - go over Rs. 330/- [i feel 30% chance to go in this way ]

2. if Negative change - go below Rs.175/- [i feel 70% chance to go in this way ]

no theories .......my own predictions!!!

But there is no doubt about future of JKH and performance ..... it need 3-4 four years to settle @high......

all these are...... due to this new investment 650USD!!! Wink Wink 



33JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 8:30 pm

econ

econ
Global Moderator
If they go for rights, will it be ended like Keels hotels ?

34JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Thu Jul 11, 2013 8:53 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Then what will happen to 30b cash they have.
Right is a miracle from JKH.............

35JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Fri Jul 12, 2013 9:52 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/3541373596847_.pdf

36JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Fri Jul 12, 2013 10:16 am

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Yep

What it says is a private placement for the new venture they are going to form. Not the JKH..........ne?

37JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Fri Jul 12, 2013 5:32 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Redbulls wrote:http://www.cse.lk/cmt/upload_cse_announcements/3541373596847_.pdf

So they say their board has not thought about a rights issue... YET..

38JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Tue Jul 23, 2013 2:40 pm

Takecharge


Manager - Equity Analytics
Manager - Equity Analytics
when will jkh go for rights

39JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Tue Jul 23, 2013 4:03 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
This is the TIME we should be INSIDE of JKH Very Happy 

40JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Tue Jul 23, 2013 4:17 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Even JKH goes for 1:10 right issue at 200 They can easily collect more than Rs. 15b.

Right is not sure for me even it does, It will be a nice Right issue like 1:15 or 1:10 for sure.

May be 1:5 at 100 or 150. Then the right will Push the prices up for sure.
All above are purely hypothetical scenarios

41JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Tue Jul 23, 2013 5:46 pm

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
@Arena wrote:Even JKH goes for 1:10 right issue at 200 They can easily collect more than Rs. 15b.

Right is not sure for me even it does, It will be a nice Right issue like 1:15 or 1:10 for sure.

May be 1:5 at 100 or 150. Then the right will Push the prices up for sure.
All above are purely hypothetical scenarios
Is it enougt to collect RS. 15b.
they nees us $ 850million
Rs =850million X 130
Rs.=110500 million =Rs. 110.5billion total requirment
say they want 1/3 from right issue, then requirment 110.5/3= Rs. 36.8 b
If 1/2 from right issue, then requirment 110.5 = 55.25 b
If I am wrong please correct me

42JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Tue Jul 23, 2013 9:06 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
100% wrong. At this movement they have around 30b cash as short term investments. And already they announced there will be a share issue for US$ 300m from foreign parties for the new venture. So the cash requirement is very low.

They will get hell of lot money from their on going property projects ( Gregory Road Apartment 5b , Town Hall 3 tower building etc etc)..................And the new project don't need cash at once.

Apart from every thing JKH is not a one party controlled entity to go for crazy right issues. 1:10 or 1:5 will be the maximum. Or may be 1:20 ..............................I think it is better to wait for them to decide.

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
What would be the most likely way of JKH raising the money for the proposed project?

44JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Jul 27, 2013 2:11 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
http://forum.srilankaequity.com/t25989-jkh-should-go-for-rights?highlight=rights

45JOHN KEELLS HOLDINGS PLC (JKH.N0000) - Page 2 Empty Re: JOHN KEELLS HOLDINGS PLC (JKH.N0000) Sat Jul 27, 2013 2:14 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
Is right issue on the cards? may be they will find a foreign partner?

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