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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » JANASHAKTHI INSURANCE COMPANY PLC (JINS.N0000)

JANASHAKTHI INSURANCE COMPANY PLC (JINS.N0000)

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greedy


Manager - Equity Analytics
Manager - Equity Analytics
My apologies Anubis.... while I was writing a reply you have posted a reply. Some of the information may have repeated in my reply.

monash


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I'm hearing some people claiming in the posts regarding JINS that director of the company Mr. Shafter purposely not allowing to appreciate share price of JINS which i see it as a baseless statement. Usually directors of the companies wants to appreciate the share price. Appreciate your views regarding this.. Smile

anubis


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@greedy: no worries, many thanks for your analysis! Smile

Backstage


Moderator
Moderator
Last year, there was a big increase in new car sales. That plus higher interest rates scenario and so close to dividend pay out , looks very attractive to me.

I am averaging on a share for the first time. Dollar averaging that I learned from a Sriranga post.

Thanks for all the above post. Very interesting to lay folk, like me.

Guys (gender neutral), wish me and JINS luck

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@greedy wrote:Investment portfolio of JINS mainly consist of treasury bills and treasury bonds. During stock market boom and lower interest rates in 2010 and 2011, JINS's was not on a good side. Because they did not benefit from the stock market boom. But now the opposite happening in 2012! So... will that benefit the company in some way?

This is a very good and clever observation / understanding.
This story is same for others in the same group. CFVF, CSEC.
I think we all have knowledge to guess the outcome.

Can you remember what and how CFVF earned during 2009 ? Not from falling shares but from TB etc.

Mr. Shafter was very adamant in this case. When the shareholders pushed him last year - 2010 AGM - to invest billions they had with CFVF in shares to get better earnings in 2011/12 Twisted Evil he (with his sister & others) never showed any intention to changed his stand . He refused and continued keeping the billions in TBs and other instruments.
I think they are going to reap the benefits this time too.

Note : I have a mixture of all 3 , JINS+CFVF+CSEC in portfolios managed by me ~ 100,000.

sriranga

sriranga
Co-Admin
@Chinwi wrote:
@greedy wrote:Investment portfolio of JINS mainly consist of treasury bills and treasury bonds. During stock market boom and lower interest rates in 2010 and 2011, JINS's was not on a good side. Because they did not benefit from the stock market boom. But now the opposite happening in 2012! So... will that benefit the company in some way?

This is a very good and clever observation / understanding.
This story is same for others in the same group. CFVF, CSEC.
I think we all have knowledge to guess the outcome.

Can you remember what and how CFVF earned during 2009 ? Not from falling shares but from TB etc.

Mr. Shafter was very adamant in this case. When the shareholders pushed him last year - 2010 AGM - to invest billions they had with CFVF in shares to get better earnings in 2011/12 Twisted Evil he (with his sister & others) never showed any intention to changed his stand . He refused and continued keeping the billions in TBs and other instruments.
I think they are going to reap the benefits this time too.

Note : I have a mixture of all 3 , JINS+CFVF+CSEC in portfolios managed by me ~ 100,000.

Thanks greedy and chinwi regarding the above valuable points.

http://sharemarket-srilanka.blogspot.co.uk/

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@sriranga wrote:
@Chinwi wrote:
@greedy wrote:Investment portfolio of JINS mainly consist of treasury bills and treasury bonds. During stock market boom and lower interest rates in 2010 and 2011, JINS's was not on a good side. Because they did not benefit from the stock market boom. But now the opposite happening in 2012! So... will that benefit the company in some way?

This is a very good and clever observation / understanding.
This story is same for others in the same group. CFVF, CSEC.
I think we all have knowledge to guess the outcome.

Can you remember what and how CFVF earned during 2009 ? Not from falling shares but from TB etc.

Mr. Shafter was very adamant in this case. When the shareholders pushed him last year - 2010 AGM - to invest billions they had with CFVF in shares to get better earnings in 2011/12 Twisted Evil he (with his sister & others) never showed any intention to changed his stand . He refused and continued keeping the billions in TBs and other instruments.
I think they are going to reap the benefits this time too.

Note : I have a mixture of all 3 , JINS+CFVF+CSEC in portfolios managed by me ~ 100,000.

Thanks greedy and chinwi regarding the above valuable points.


Somehow , we should remember TB rates were much higher than now in 2009.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
really good discussions, i hope this kind of discussions will give much positive outlook to the forum.

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics
@Chinwi wrote:
@sriranga wrote:
@Chinwi wrote:
@greedy wrote:Investment portfolio of JINS mainly consist of treasury bills and treasury bonds. During stock market boom and lower interest rates in 2010 and 2011, JINS's was not on a good side. Because they did not benefit from the stock market boom. But now the opposite happening in 2012! So... will that benefit the company in some way?

This is a very good and clever observation / understanding.
This story is same for others in the same group. CFVF, CSEC.
I think we all have knowledge to guess the outcome.

Can you remember what and how CFVF earned during 2009 ? Not from falling shares but from TB etc.

Mr. Shafter was very adamant in this case. When the shareholders pushed him last year - 2010 AGM - to invest billions they had with CFVF in shares to get better earnings in 2011/12 Twisted Evil he (with his sister & others) never showed any intention to changed his stand . He refused and continued keeping the billions in TBs and other instruments.
I think they are going to reap the benefits this time too.

Note : I have a mixture of all 3 , JINS+CFVF+CSEC in portfolios managed by me ~ 100,000.

Thanks greedy and chinwi regarding the above valuable points.


Somehow , we should remember TB rates were much higher than now in 2009.

Agreed... Government securities attract lower rates at present compared to 2009. But it is increasing recently. We do not have the details of JINS Treasury bill and Bond Portfolio (Maturity Dates, Type of Security, Duration etc.). Therefore it'll be difficult to make a prediction. However, with the implementation of new accounting standards these details will be available in the annual reports. Making the job some what easy Smile

Treasury bill and treasury bond yield rates from primary market below....

JANASHAKTHI INSURANCE COMPANY PLC (JINS.N0000) - Page 4 Treasu10



Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Latest CSEC report is showing other ways.
They have had bad business than last year + over 100 million for fall in values and another 100+ million for doubtful advances creating losses at the bottom line .

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Chinwi wrote:Latest CSEC report is showing other ways.
They have had bad business than last year + over 100 million for fall in values and another 100+ million for doubtful advances creating losses at the bottom line .

http://www.cse.lk/cmt/upload_report_file/611_1329473703.pdf

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics
@Chinwi wrote:Latest CSEC report is showing other ways.
They have had bad business than last year + over 100 million for fall in values and another 100+ million for doubtful advances creating losses at the bottom line .

It's related to a fraud happened in one of their subsidiary... From the notes to the accounts;

"During the quarter, First Capital Holdings PLC detected a fraud committed on the assets of a subsidiary, First Capital Limited by a senior employee of that company. The resulting loss to First Capital Limited is estimated to be approximately Rs. 160Mn of which Rs. 29.1 Mn has been accounted for as interest income in the current financial year and has been now reversed. The balance consists of cash defrauded and income recognised in the previous financial years. First CapitalHoldings PLC has confirmed that there will be no losses to clients of the group and the resulting impact on the consolidated income statement of Dunamis Capital PLC will be approximately Rs. 105 Mn."

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics
@Chinwi wrote:Latest CSEC report is showing other ways.
They have had bad business than last year + over 100 million for fall in values and another 100+ million for doubtful advances creating losses at the bottom line .

@ Chinwi,

Can CSEC performance be compared with JINS ? I guess JINS's investment portfolio is Long Term whereas CSEC's short term (Dealing Securities). That means any dealing securities bought beginning or mid of 2011, will have lesser value as at 31/12/2011 as the year end rates were bit higher than beginning and mid of the year.

I'm not trying to say JINS better off!

89JANASHAKTHI INSURANCE COMPANY PLC (JINS.N0000) - Page 4 Empty JINS 31.12.2011 Wed Feb 29, 2012 5:00 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/841_1330430373589.pdf

K.Haputantri

K.Haputantri
Co-Admin
Thanks Gaja.

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
@Gaja wrote:http://www.cse.lk/cmt/upload_report_file/841_1330430373589.pdf

DNHP COLLECTION INCREASING LITTLE BY LITTLE



Last edited by SL.Market on Wed Feb 29, 2012 5:17 pm; edited 1 time in total

anubis


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
As far as I can see, performance is not as good as we expected: http://forum.srilankaequity.com/t16076-why-janashakthi-insurance-not-moving-even-the-fundamentals-are-storng

godfreydayan


Equity Analytic
Equity Analytic
http://www.cse.lk/cmt/upload_report_file/841_1330430373589.pdf

Light of Hope


Vice President - Equity Analytics
Vice President - Equity Analytics
hope they will declare the divident soon

godfreydayan


Equity Analytic
Equity Analytic
according to the interim reports the annul EPS has dropped by 17.40%( EPS 1.75 RS) but still they can pay there usual dividend of 1 RS per share and still the PER Looks impressive at current price level ( 6.91 times)

godfreydayan


Equity Analytic
Equity Analytic
@anubis wrote:As far as I can see, performance is not as good as we expected: http://forum.srilankaequity.com/t16076-why-janashakthi-insurance-not-moving-even-the-fundamentals-are-storng
according to the interim reports the annul EPS has dropped by 17.40%( EPS 1.75 RS) but still they can pay there usual dividend of 1 RS per share and still the PER Looks impressive at current price level ( 6.91 times)

godfreydayan


Equity Analytic
Equity Analytic
according to the interim reports the annul EPS has dropped by 17.40%( EPS 1.75 RS) but still they can pay there usual dividend of 1 RS per share and still the PER Looks impressive at current price level ( 6.91 times)

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@greedy wrote:

JANASHAKTHI INSURANCE COMPANY PLC (JINS.N0000) - Page 4 Treasu10


That's an extraordinary picture. in 2006, 2007,2008 we had an inverted yield curve a sign that the bond market was expect our economy to flop in the future. Now the yield curve is positive, therefore the bond market expects our economy to grow in the future

sriranga

sriranga
Co-Admin
Mar 07, 2012 (LBO) - Sri Lanka's Janashakthi Insurance has focused on containing claims and writing more profitable business in 2011, though investment income took a hit due falling stock market values, officials said.

Gross written premium rose 15.7 percent to 7.1 billion rupees. The firm said motor premiums rose 13 percent to 3.8 billion rupees as vehicles imports rose.

The firm maintained claims and benefits at 3.08 billion rupees, flat from 3.07 billion rupees a year earlier.

"We have refrained from quoting rates that are uneconomical and do not add to our bottomline," managing director Prakash Schaffter said.

General manager, finance and planning Bertal Pinto-Jayawardena said the firm worked with clients to reduce risk, such as by mapping areas with increased flood risk which was well received.

Its claims ratio had improved to 63 percent from 70 percent a year earlier.

Shehara de Silva, general manager marketing says the company is improving brand loyalty especially in motor where price competition is high.

Thought underwriting results improved to 983 million rupees from 880 million rupees profits fell 16.7 percent to 636 million rupees. Investment income fell to 894 million rupees from 1,001 million a year mainly to due falling stock prices, Pinto-Jayawardena said.

Janashakthi said competition is increasing with new insurers coming, especially those connected to motor dealers.

The firm says it is setting up branches in former war-torn areas in the north and the east where there is a demand for insurance.

Janashakthi had gross assets of 12.9 billion rupees by December 2011 and net assets of 2.9 billion rupees.
http://lbo.lk/fullstory.php?nid=1116709277

http://sharemarket-srilanka.blogspot.co.uk/

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Despite posting reasonably good reporting again, something is still plaguing this on the floor of the market.
What is it?
Schaffter Factor ! pale

lemuria


Manager - Equity Analytics
Manager - Equity Analytics
this is a long-term growth share.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@lemuria wrote:this is a long-term growth share.
Agree.
But what is holding it back?
Schaffter Factor !

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
I was also hoping this is long term.. but how long? I see no progress in share price for abt 3 yrs now ;(

It runs 3-4 rupees then fall back.. Have any of u remembered the time it passed 20?

stumpy

stumpy
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Mona Shafter da!
It's coz of Lanka factor! lol!

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
@smallville wrote:I was also hoping this is long term.. but how long? I see no progress in share price for abt 3 yrs now ;(

It runs 3-4 rupees then fall back.. Have any of u remembered the time it passed 20?

Yes smallville, That was in may/june 2011. JINS price surpassed Rs. 22.00 and on 2nd june it was traded even at Rs. 22.10. Pl see following figures as per JBS website.

May 30=open 19.50 high 21.80 close 20.90
May 31=open 21.00 high 21.00 close 19.50
June 01=open 20.30 high 21.40 close 19.20
June 02=open 21.50 high 22.10 close 20.70
June 03=open 20.90 high 21.00 close 20.00
June 06=open 22.00 high 22.00 close 19.60
June 07=open 20.00 high 20.20 close 18.00
June 08=open 18.60 high 20.40 close 18.40

During above 8 market days 58,161,900 shares were traded and total sale value was Rs. 1.2 bn

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