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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » 8 Finance companaies to be closed very soon

8 Finance companaies to be closed very soon

+7
glad
Miss-Sangeetha
samaritan
sanjulanka
Tharu134
Yahapalanaya
Uaecoindubai
11 posters

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Yahapalanaya


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

https://cdn.cse.lk/cmt/upload_report_file/443_1556790537905.pdf

SEYB Q1 result is good.They managed well impairment cost as well.We could expect better result from good companies in financial sector. Very Happy Very Happy Very Happy

Uaecoindubai


Manager - Equity Analytics
Manager - Equity Analytics

Im not talking about Banks here except idiot SDB

Teller


Moderator
Moderator

Mangala Samaraweera agreed that some business has faced hard time so government support/assistance is needed. Smile))))

samaritan


Moderator
Moderator

Teller wrote:Mangala Samaraweera agreed that some business has faced hard time so government support/assistance is needed. :)))))
Mangala's statement is nonspecific and covers a wider spectrum of business sectors.

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics

How is LOLC.........??????? Reports are good!!!!!

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics

You better to mention the 8 companies namely. Otherwise all the other companies will be in trouble.

So please reveal them for the survival of the other best companies because of thieves.

Teller

Teller
Moderator
Moderator

In this situation if i write also problem not also. Its better you feel the companies. In simply study the companies

Teller

Teller
Moderator
Moderator

Most of the companies average profit down by 30%-50% QOQ against same quarter in last year. i hope this will continue gradually & Cash position will be much negative & bad doubtful debt will be double

samaritan


Moderator
Moderator

Finance Companies that are backed by Banks (Wholly owned or subsidiary) are safe.

Teller

Teller
Moderator
Moderator

"Finance Companies that are backed by Banks (Wholly owned or subsidiary) are safe." -Agree with you , but next scenario will be applied . Its MINIMUM PUBLIC FLOAT. In future minimum public float will be mandatory requirement of any listed company . of course they have to distribute the ownership. as example bank 10%. same like finance companies to be adjusted to minimum float as guided by IMF earlier

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator

Teller wrote:Most of the companies average profit down by 30%-50% QOQ against same quarter in last year. i hope this will continue gradually & Cash position will be much negative & bad doubtful debt will be double
How is your dream AFSL, which you were promoted extensively in year 2016

Teller

Teller
Moderator
Moderator

My analysis are based on reports , in simply fundamentals ,technical s and the PESTEEL factors .AFSL did a massive manipulation by influencing external auditors . as usual we believes auditors opinion . but AFSL auditors have mislead us same like Sathyam Computers in india. fundamental manipulation plus creating fake technical s (Pumping to buy @ market) got us mislead.

MeshLk


Stock Analytic
Stock Analytic

Teller wrote:"Finance Companies that are backed by Banks (Wholly owned or subsidiary) are safe." -Agree with you , but next scenario will be applied . Its MINIMUM PUBLIC FLOAT. In future minimum public float will be mandatory requirement of any listed company . of course they have to distribute the ownership. as example bank 10%. same like finance companies to be adjusted to minimum float as guided by IMF earlier
https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/laws/consultation_papers_20190516_Introduction_of_Ownership_Limits_of_the_Licensed_Finance_Companies_e.pdf
see page 4 (Point 7), current recommendation per draft consultation paper - is to exempt such LFCs

Teller

Teller
Moderator
Moderator

Teller =uaecoindubai ,
By reffering to latest books, most of the companies quality of loan books are in red zone.

samaritan


Moderator
Moderator

The country is also in red zone!

Teller

Teller
Moderator
Moderator


It was predicted by Teller...its happening now

Bad loans at Sri Lanka's banks had risen 64 percent in the first quarter of 2019, the worst since 2013 when gold-backed loans went bad, leaving lenders with thinner capital buffers, Fitch Ratings said.

But banks were also facing difficulties raising capital.

"Weaker asset quality and earnings will add to pressure on capital, and many small and medium-sized banks still need to raise equity capital to meet enhanced regulatory capital requirements by the end of 2020," Fitch Ratings said.

"However, they face execution risks since recent rights issues by Sri Lankan banks have been significantly undersubscribed, with investors deterred by macroeconomic instability.

"Our outlook for the sector remains negative."

Non-performing loans had risen to 3.4 percent by end 2018 from 2.5 percent by 2017.

Sector net profit had fallen 9 percent with impairment charges doubling.

"In addition, a debt-recovery levy imposed in late 2018 will push effective tax rates higher, further squeezing profits," Fitch said.

Small banks had higher bad loans Fitch said. Impaired loans to gross loans at small banks had climbed to 7.4 percent by end 2018.

At larger banks it was 6.9 percent, Fitch said.

"Sri Lanka's small and medium-sized banks are under the greatest pressure," Fitch said.

"Their capital buffers are thin due to aggressive loan growth, muted earnings and rising credit risks, and their predominant exposure is to the retail and SME segments, which we believe are more vulnerable to economic downturns."

chathura123


Manager - Equity Analytics
Manager - Equity Analytics


SDB

Equity members please pass this message to innocent people.
Not deposit money with SDB ,if they are showing good books .will be collapse like ETI.money deposited with this using as one of popular family in this company.
So don't get into this trap .
Remove your deposits as soon as possible and deposit them trustworthy banks.
This is inside information.
Don't Look at books .they are misleading

Teller

Teller
Moderator
Moderator

Agreed with chathura, SDB recently baught online payment application by spending 200 million around i believe ,known as UPAY . We have to check this deal . Im not having mluch data. If any one has update please

Teller

Teller
Moderator
Moderator

Please add to TKS finance (as per latest info kurunegala branch was sealed by central bank,) While sinhaputhra is on red alert. So another 4 remaining. Remember Tellers raidar system is on. I said this 6 months ealier. Depositers be careful.

samaritan


Moderator
Moderator

United National Finance (UNF Ltd) headquartered in Kotte got the bond dealership and overcame their crisis in 2015 & now financially very strong.8 Finance companaies to be closed very soon - Page 2 Icon_lol

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