FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» The stock market can be a great place to make money; it can also be a great place to lose money. Stock market for beginners
by Asoka Samarakone Yesterday at 10:12 pm

» LOFC AND CLC Target Price??
by Captain Yesterday at 9:17 pm

» Top Foreign Trading today
by SAGA Yesterday at 6:32 pm

» Top crossings today
by SAGA Yesterday at 5:01 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by samaritan Yesterday at 1:58 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Sunimal Yesterday at 12:52 pm

» Amana Takaful ATL & ATLL
by kanishkaecomm Yesterday at 12:17 pm

» Best Time to Collect Cic X
by Value Pick Yesterday at 8:15 am

» Why is First Capital Holdings being dumped?
by Berryfund Yesterday at 6:29 am

» AGST can move
by FINANCIAL CHRONICLE™ Thu Sep 16, 2021 11:58 pm

» COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)
by newone Thu Sep 16, 2021 11:57 pm

» AGSTAR PLC (AGST.N0000)
by FINANCIAL CHRONICLE™ Thu Sep 16, 2021 11:57 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Bakkabwoi Thu Sep 16, 2021 8:10 pm

» Twitter accounts related to the stock market
by Bakkabwoi Thu Sep 16, 2021 8:09 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by xhunter Thu Sep 16, 2021 7:55 pm

» LOFC LOFC LOFC
by madukp Thu Sep 16, 2021 6:49 pm

» How Equity Emerged the Top Asset Class During a Pandemic
by samaritan Thu Sep 16, 2021 6:30 pm

» HVA FOODS PLC (HVA.N0000)
by rajini Thu Sep 16, 2021 12:38 pm

» Ambeon Holdings fully owned subsidiary MillenniumIT ESP gears for global expansion
by samaritan Thu Sep 16, 2021 11:39 am

» Sri Lanka IT and consultant industry moved closer to LKR 10Bn in 2Q 2021
by samaritan Thu Sep 16, 2021 11:36 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)

COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)

+59
wealth123
desh87
Citizen Silva
reyaz
ErangaDS
Champ888
dayandacool
Manisha De Alwis
Nicerider1978
nuwanmja
xhunter
engineer
123longway
100Bill
Sanju121
Dharshi
Dum87
Hope123
MarketWch
chathura123
cseguide
Thushara Ayya
ChooBoy
EquityPlus
hasitha@CSE
Srilankan Psyco
AsithaDe
Teller
Eranga87
ThilinaM
Promoney
Ekanayake90
NiroR
Eugine Fernando
Miss-Sangeetha
ColomboCSE
KavinduTM
Invest-Wise
ResearchMan
bhanu
kasun_gimhana
Arrowrisk
sandamal
dhaneenja
ddrperera
Udakara
Top Trader
lokka1
omegaplus
anges
Mrs Kudabadu Kularthnae
Brinthan
kumarweerarathne
VALUEPICK
nimantha80
Winner123
jayathu
EquityChamp
investorsl
63 posters

Go to page : Previous  1, 2, 3, 4, 5, 6, 7, 8  Next

Go down  Message [Page 4 of 8]

Teller


Moderator
Moderator
can we predict directors insider dealing when we do a prediction. Up from higher level to the lowest are engaging with frauds. We were too late to understand about these fraudsters.
ABANS GROUP SELLS FINANCE COMPANY TO LAUNDRY OPERATOR , LOSSES CONTROL & CAPITAL INFUSION FAILS TO SAVE ABANS FINANCE -

Abans Finance PLC profit declines to 55Mn From 78 Mn , after being downgraded to associate status -

Worse ever performance by a Company with Equity base of Rs 1.1 Bn.

-Non performing assets increased from 534 Mn to 805 Mn.

-Interest margin declined from 13.5 % to 11.2 %.
-Return on average assets declined from 3.4 % to 2.0%.
-Return on average Equity declined from 20.5 % to 8.0%.


CENTRAL BANK FINDS MAJOR MANIPULATIONS AND NON COMPLIANCE WITH DIRECTIVES TO REPORT FALSE PROFITS.


CEO is only a puppet and does not get involved in any business promotion and always on the computer preparing his assignments for studies.

Two staff members of Ironwood Investments , one of the major share holder works as full time employees and runs the business and gives directions to staff.


COO who knows nothing other than recoveries has also messed up and the Non performing assets increased from 534 Mn to 805 Mn. COO is also not allowing the recovery staff to check the payments on new loans which are in arrears.

Both are planning to collect some fictitious cheques from customers and manipulate the profits for December 2017.

The Chief Internal Auditor is also assisting the management to manipulate the profits.

The Chief Financial Officer has quit his job and the head of risk also has submitted his resignation after the CBSL Audit.

Small number of shares are traded at high prices to manipulate the market price.


Be cautious and don't get carried away and looses your money.




Abans Finance PLC share which was trading at Rs 69.90 has dropped after decline in profits. Independent Director Himubuldeniya's paper Company bought money from Cayman Island and bought at Rs 25.00 defrauding minority share holders

Trades are presently at Rs 22.00 levels but small quantities of 2 to 20 shares are trading at higher prices due to manipulation. Don't get cought to - "Pumping and Dumping".

“Ironwood Investment” , Abans group and proxies are manipulating the share price of Abans Finance PLC by “Pump and dump" (P&D) which is a form of microcap stock fraud that involves artificially inflating the price of an owned share through false and misleading trades. They undertook to reduce their holding to satisfy minimum float requirements.

SEC and CSE should investigate the trades of small number of shares traded at artificially high prices to mislead investors.

Teller


Moderator
Moderator
@Sangeetha, Ironwood ate Abans, some auditors supported . We were helpless

ThilinaM


Vice President - Equity Analytics
Vice President - Equity Analytics
@Teller - explain what is PV inner bulish analysis????

KavinduTM


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:Refer my Feb 08  related to COMB target in this article. i cleary told some guys last week to yesturday,Exit bank finance,plantation and hotel  and STRICLY ENTER TO EXPORT ORIENTED COMPANIES. I SEE 3 OPPORTUNITIES WHICH WILL GET A REAL BENIFITS.  ESPECIALLY Rexp,hexp,BPpl,hcab... even down market Those shares are very strong. With out having much effort, Investors realize the potential ,then REXP to 320, HEXP to 160,  teller said is said. Still you are not late to decide
You have good analyses + strong targets but sometimes you include some viruses among them. Example is COMB. Maybe with the idea of collecting @84 levels.But it deserves 100+ levels. 

Even i will love to buy COMB @84 coz it is so much worthy for that price but it is not acceptable spreading bad viruses to people's mind.

Teller


Moderator
Moderator
Once you learned ratios ,contact me. Other wise its also just like a bullshit like EPS and NAVPS. Remember take fundementals plus technical together , then only you can do it.

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
@Teller - After tellers explanation i have analysied cash flows of vfin. but we cant say - cash flows are bad since when loans given cash flows will be minus in a finance company. so tellers argument is wrong regarding VFIN z bad due to minus cash flows. any comments

Teller

Teller
Moderator
Moderator
@kavidu, in this world there are 2 things. One is deserve , other one is desire.
We desire to buy a car, but due to poor financials we deserve for a bycycle.
So desires will not work always . Im in office bro. Busy..


_________________




Teller said is said..

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
@Teller - Im a finance graduate and CA finalist and i know ratios . what is your PV inner analysis ???
misss sangeetha says its a fake name. pplease explain???

Teller

Teller
Moderator
Moderator
@Thili, understand and study ratios under retail banking


_________________




Teller said is said..

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:Once you learned ratios ,contact me. Other wise its also just like a bullshit like EPS and NAVPS. Remember take fundementals plus technical together , then only you can do it.

Bro i don't care NAV or EPS much when taking decisions.However i don't ignore them at all. I care about financial ratios you posted few days ago. And yes after ratios, cash flow and the growth of a company , then i study charts.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:@kavidu, in this world there are 2 things. One is deserve , other one is desire.
We desire to buy a car, but due to poor financials we deserve for a bycycle.
So desires will not work always . Im in office bro. Busy..

Yes that's correct but how does that applies to the Commercial Bank's situation.
Oh it's okay reply after the work. Focus on it Smile 

And please call me @kavindu. You always missing "n"  Crying or Very sad 😂

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
Commercial bank 12% Return on net assets. only good for trading now.

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
that mean com bank can only generate 12% on new funds say a right issue.
earnings on price z 17% . less risky low growth stock. now less risky to buy and trade in like another 6 months

Teller

Teller
Moderator
Moderator
"And please call me @kavindu. You always missing "n" Crying or Very sad 😂"

Ok .ok, today also 1 rupee down,


_________________




Teller said is said..

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:"And please call me @kavindu. You always missing "n"  Crying or Very sad 😂"

Ok .ok, today also 1 rupee down,

Haha i was crying  Razz

Yes but not 84/= huh. Downtrend will be ended soon Smile

Teller

Teller
Moderator
Moderator
But i predicted this from 94-98 levels


_________________




Teller said is said..

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
coma will bump back now like privious time

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:But i predicted this from 94-98 levels
Oh did u?

But i saw it when it was 92/=

If you predicted when it was 98/= . Good prediction bro Smile

ColomboCSE


Manager - Equity Analytics
Manager - Equity Analytics
@Teller this come to 85 level man... to be honest i'm also calculated it will be come 87 max B'cos in APR/2019 also this survive same difficult stats.

need to re think about my forecasting algorithms  Surprised Surprised Surprised Surprised

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 4 To_for11

What do u think . will PAB goto right issue???

Teller

Teller
Moderator
Moderator
Teller said is said. I had 12 hours continues sleep.ohhh when i check COMB , ill tell you the secret but again i want to sleep ......


_________________




Teller said is said..

NiroR


Stock Trader
COMB.N  ??? 🤔

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
ECONOMYNEXT- Domestic commercial banks which held dollar denominated bonds issued by the government of Sri Lanka will see higher profits after a tax treatment suddenly changed by a tax-oriented International Monetary Fund program, reverted to old practice.

Banks, who were among the top holders of so-called Sri Lanka Development Bonds (SLDBs) had to provide for taxes after the previously tax-free bonds were made taxable as part of the ‘revenue based fiscal consolidation’ strategy in the last IMF program with the island.

Exempted

However, there had been reduced demand for new bond issues in recent months after the tax treatment was changed to make SLDBs tax liable.

Uncertainty remained over whether the tax free status only applied to sovereign bonds issued mainly outside Sri Lanka or the SLDBs which are mostly sold to resident customers who are allowed to have forex assets.

Confusion had arisen over the broader exemptions in the Sinhalese interpretation of the act, which usually takes precedence over English.

On February 12 this year Sri Lanka’s Inland Revenue Department had issued a circular, interpreting that the tax-free status applied to SLDBs with effect from April 2018.

Sampath Bank Plc was the first among banks to report their fourth quarter earnings, recording a tax reversal of over 500 million rupees on SLDB holdings of 60 billion rupees at end-2019 following the new interpretation.

SLDBs had been exempted from tax prior to April 1, 2018, Inland Revenue Department Deputy Commissioner R. M. Jayasinghe told EconomyNext.

As the government wanted to broad-base taxation, SLDBs were removed from the exempt list under the Inland Revenue Act No. 24 of 2017, he said.

“Once we made SLDBs liable to tax, as time went on, we felt that it was difficult to find investors,” he said.


DEMAND DROP: Since the new Inland Revenue Act was announced in October 2017, there has been lower demand for SLDBs, with three issuances being undersubscribed.
On three SLDB auctions in 2018 and 2019, bids were less than the announced value of bonds.

From 2016 to end 2017, there was only one auction which was not oversubscribed. During the earlier period, auctions were oversubscribed by larger margins.

Windfall for Banks

While listed banks will benefit from the tax reversal, state banks will also gain, First Capital Research Assistant Manager Atchuthan Srirangan told EconomyNext.

“Sri Lankan banks hold over 80 percent of the issued SLDBs,” he said.

At the moment, there are 3.1 billion US dollars in issued SLDBs.

Banks which have large foreign currency accounts, mainly for worker remittances, subscribe to SLDBs, Srirangan added.

Some banks also borrowed abroad, on their balance sheet at rates lower than the sovereign to invest in SLDBs.

However, with the new tax coming in, their margins reduced, leaving less on an incentive to buy SLDBs.

Bank of Ceylon, which is the largest bank in Sri Lanka, held 195 billion rupees in SLDBs at end-2018, and the bank’s annual report said said its profits fell during the year due to SLDBs coming under taxation.

Among listed private banks, Hatton National Bank Plc had invested the highest in SLDBs at end-2018 at 123 billion rupees, twice that of Sampath Bank, annual reports showed.

Commercial Bank of Ceylon Plc grew their investment to 59 billion rupees in 2018 from 40 billion rupees in 2017.



National Development Bank Plc, DFCC Bank Plc and Pan Asia Banking Corporation Plc rounded up the top six SLDB holders at end-2018, holding between 10-20 billion rupees each.

Any bank that retains the tax reversals would be able to boost their Tier I capital, analysts said. (Colombo/Feb14/2020)

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 4 F1104e10

Promoney


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 4 Screen90

https://economynext.com/sri-lanka-bank-profits-to-lift-on-sldb-tax-relief-50526/

Teller

Teller
Moderator
Moderator
As i Said COMB came to near my 84 target. Exactly its rebounding as expected . Thats why you should study secret things in analysis .


_________________




Teller said is said..

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:As i Said COMB came to near my 84 target. Exactly its rebounding as expected . Thats why you should study secret things in analysis .

Yeah that was a good prediction. Now it will touch 100 without a break i guess.

AsithaDe


Equity Analytic
Equity Analytic
Is foreign selling over now. how much selling is Remaining as at now. ?

Teller

Teller
Moderator
Moderator
Who ever sells below 84 , they are fools.. i calculated once,twice,thrice before putting my 84 target. Its a support and buyers will enter @84 at any cost , because 97.8854 % pshychological factors are gearing up 84 levels . So 84 is strongly recommended.


_________________




Teller said is said..

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:Who ever sells below 84 , they are fools.. i calculated once,twice,thrice before putting my 84 target. Its a support and  buyers will enter @84 at any cost , because 97.8854 % pshychological factors are gearing up 84 levels . So 84 is strongly recommended.

Yeah even i preferred to enter @90.
84/= is far better. 

@Teller, however what is the reason for massive foreign selling?

Sponsored content


Back to top  Message [Page 4 of 8]

Go to page : Previous  1, 2, 3, 4, 5, 6, 7, 8  Next

Permissions in this forum:
You cannot reply to topics in this forum