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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000)

CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000)

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StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Monster wrote:Good analysis SW (Can I call you SW Wink ) + Rep from me as well.

RENU, CABO and COLO should valuated based on the investment they hold apart from their core business.

If you further analyze as of CABO annual report 2009/2010, the equity investment worth more than the current market price. They have disposed some their investments during 2QFY10 and re-invested during 3QFY2010. It will be interesting to see the annual report.

As of 2009/2010 annual report company was able to maintain full occupancy of all the floors with M/S Julius & Creasy and other tenants. Hence company is safe on it's core business.

CABO and RENU are part of my long term investments.

Very well spotted Monster, yes CABO seems to have disposed some of their investment in the 2QFY2010. This is clearly visible when you compare their non-operating income for the four quarters ending 31st March 2011.

Comparison of CABO’s Quarterly Non-operating Income

1QFY2010 – Rs. 12.3 million
2QFY2010 – Rs. 113.2 million
3QFY2010 – Rs. 11.6 million
4QFY2010 – Rs. 7.1 million

See the huge increase in non-operating income in 2QFY2010 – This is likely to be an income generated by disposing some of CABO’s investments. I also observed the same pattern in 4QFY2009 and 1QFY2008. Therefore it can be reasonably inferred from these observations that CABO has been systematically disposing its investments each year and booking some capital gains. Also the investment value in the BS continue to increase which suggests that CABO has been reinvesting the proceeds from disposal of its investments.

Also the property acquired by the company recently which is located at No. 35, 35 1/1 & 37 at Janadhipathi Mawatha, Colombo 1 is going to be developed as a car park as per the 2009/2010 annual report which will eventually increase the revenue generated by the company’s core business. However, this will be a nominal figure compared to company's non-operating income.

UKboy


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@duke wrote:W.A.D. Ramanayake Mawatha = Alston Place
Janadhipathi Mawatha = Queens Street

Thanks duke.

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
@duke wrote:This discussion gives out an important point about the CSE. The companies under discussion are valued by the portfolios and assets they hold which consists of the already over valued shares of the same CSE. We consider what if these companies sell off all their assets like JKH, BRWN, DFCC, SAMP etc. were doing over the last quarters to keep up their profits? But these companies are holding those companies again. This is just like a credit crisis (just like each other buying on credit expecting others will buy and expecting everything will go up.) All the CSE companies are depending on each other for their worth. One companies worth is not because of they're doing business well but because they own shares of other similar companies and expect them to perform well so that they can get a higher value by owning those other companies. I hope you get my point.
If you look at the core business the performance would be flat. Some of these companies has increased the profit by over 10 times in a single one off quarter compared to other quarters just by revaluations or sell offs.
That means there's no growth in companies in the CSE. Because of this I don't think we can consider CSE as an 'emerging market' it's only a 'speculative market'. May be we have already paid the price sufficient for another 5 years of the so called fundamental stocks which are now all jsut a bunch of speculative shares.

I can't agree with you 100% on above statements.To do such massive investments, They must have done their core businesses well, otherwise how do they find such amount of cash to Buy millions of shares in DFCC,NDB,JKH etc.

On the other hand companies with such investments don't have to beg from the shareholders with Rights/Warrrents for thier future development projects.

Although current trend is downward at CSE; Has the growth forecast of SL downgraded or corporate earnings declined? .I think best era of the CSE is yet to come,( not even the 2009-2010).I think CBSL and IMF further upgraded growth forecast in SL from 8% to 8.5%.

Majority of Companies with good businesses are yet to capitalize from their full potential, I thinks even giants like JKH,COMB,NDB,DFCC are still in early stages of their development.So I believe good days are yet to come.

I agree that the behavior of some stocks and investors are not healthy to the market and may even retard the progress we are expecting.

In any society there are people ranging from priests,monks, virtues to Smugglers,thieves,murderers etc and majority in between, in CSE also we should expect such a behavior from investors,traders as well, because investment community is essentially a subset of the Universal community.

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@RockStock wrote:ALLI is another stock which have such a large stock portfolio, with only around 1 million shares in issue.

Out of CABO,RENU,COLO,ALLI, If we consider their Core businesses as well , what would be the best out of them,
My order of preference,

1.COLO-Because of strong demand for KIA SUV and other ranges of vehicles, They have a significant income from spare parts business,Now Sri Lanka is flooded with all sorts of vehicles and all may need spare parts from next few years.Union place land have a huge value, even some property companies don't have such an asset.

2.ALLI-Being a Finance stock, Strong credit demand and demand for leasing and higher purchases along with continous economic development.

3-RENU-Income from their CITY hotels Slowly gearing up,but not as rapid as above two

4.CABO- Income generated from the properties are still at very low levels compare to other businesses, though their ASSET value is high.They may take some years to generate good income along with economic development

What are your views

Thanks RockStock for those valuable comments. Yes ALLI also maintains a healthy portfolio but I have not analyzed it in any detail. I did one trade recently with ALLI where I bought around 800 levels and sold after the recent report with a good capital gain.

Regarding the order of preference among these four shares, I prefer RENU above ALLI, RENU recently refurbished the hotel and it started full operation only in the first quarter of this year. RENU is therefore poised to gain from the recent refurbishments and well as recovering tourism industry.

Antonym


Vice President - Equity Analytics
Vice President - Equity Analytics
@SW: You have compiled an excellent analysis on CABO, very comprehensive and fact-based... Keep it up!

I believe that the CABO price will shoot up once the ongoing selling spree is over. No investor with adequate funds would voluntarily sell at these levels. Good to collect...

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanka All. Interesting discussion. Rooms of Rnuka hotel(RENU) were closed for business for around 3 to 4 months during the last financial year , Otherwise EPS could have been little more.However from dec 2010 all rooms are ready for business after refurbishment. (This information are given in dec. Q accounts ) Therefore we can expect better result in the current Q.

ALLI paid highest dividend this year among all finance companies. ALLIi is also engaged in stock market business and every year they have earned significant profit from that business.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
CABO has declared a dividend of Rs 4 per share (subject to Shareholder approval at the AGM). This is a significant improvement from last year's Rs 2.25.
AGM Date: 23-09-2011.
XD Date: 26-09-2011.
Payment Date: 29-09-2011.
The dividend announcement has been uploaded on the CSE website.

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Antonym wrote:CABO has declared a dividend of Rs 4 per share (subject to Shareholder approval at the AGM). This is a significant improvement from last year's Rs 2.25.
AGM Date: 23-09-2011.
XD Date: 26-09-2011.
Payment Date: 29-09-2011.
The dividend announcement has been uploaded on the CSE website.

Thanks Antonym for updating this thread with CABO's latest announcement.

Also I noticed a significant increase in CABO's volume last week. Could it be due to information about this dividend being leaked?

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@StocksWatch wrote:
@Antonym wrote:CABO has declared a dividend of Rs 4 per share (subject to Shareholder approval at the AGM). This is a significant improvement from last year's Rs 2.25.
AGM Date: 23-09-2011.
XD Date: 26-09-2011.
Payment Date: 29-09-2011.
The dividend announcement has been uploaded on the CSE website.

Thanks Antonym for updating this thread with CABO's latest announcement.

Also I noticed a significant increase in CABO's volume last week. Could it be due to information about this dividend being leaked?
Hi, StocksWatch.
I don't know about any information leak.
But if I had some extra funds right now, CABO would be on my shopping list. Not just for the dividend, but for their understated investment portfolio... It would be great if you could update this thread when the CABO Annual Report is released (expected shortly).

lkmihiruk


Equity Analytic
Equity Analytic
thanks everybody

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@StocksWatch wrote:
Company’s Investment:
...The share prices of most of the companies held in CABO’s portfolio had appreciated as of 31st March 2011 and therefore we can expect an increased market value for these investments in the forthcoming annual report for 2010/2011. Let’s try to calculate this figure...

...Therefore we can reasonably expect a market value of CABO’s investment at Rs. 1143 (1123+20) where 20 million is other investments which are not valued at market price...
@StocksWatch: I must commend you on your excellent estimation! The market value of CABO's investments on 31-03-2011 was Rs 1,119 million.

As per my rough calculation, Net Assets per share was approx Rs 162 on 31-03-2011. Can you please confirm this and draw our attention to any new points in their Annual Report?

http://www.cse.lk/cmt/upload_report_file/615_1314702698412.%20Annual%20Report%202011.pdf

gamester


Equity Analytic
Equity Analytic
අයියෝ මේ CABO ගැන කතා කරලා වැඩක් නැ , මේක මලාට වැඩි වෙන්නේ නැ,




This is not a buy/sell/hold recommendation. This is my personal view.
Do your homework & take your own investment decisions.

33CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000) - Page 2 Empty Oh My God - The CABO Investment Mon May 27, 2013 7:13 pm

stocks hunter


Manager - Equity Analytics
Manager - Equity Analytics
Did u all notice guys. Just see the CABO investment portfolio. They are having LLUB 2,000,000mn shares with them and the cost is just 81,725,490.

Value as at 31.03.2012 was Rs 363,800,000mn. This was at Rs 181.00 per LLUB share.

Now todays LLUB trading price is Rs 315.00 and the investment value should be Rs 630,000,000mn. That means LLUB is representing almost Rs54 value in CABO share.

Where will be the end of CABO then?????????

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
i am sure it will follow path of dist and llub

sahan8896


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@anges wrote:i am sure it will follow path of dist and llub
DIST still warming. Very Happy

hello


Moderator
Moderator
I also Bought today 2000 CABO @ 129.90 Because of the LLUB going up and up.

LLUB went up to 324 today , I expect It may pass 350/= very soon then CABO also pas 150/=

Takecharge


Manager - Equity Analytics
Manager - Equity Analytics
Bought both, looking forward to gains, in the short term.

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
CABO current market Earning per share 160.00 Rupees.

Last quarter NAV 79.00 + 160.00 = 239.00 Current market net asset value per share.



Last edited by Gainer on Mon May 27, 2013 11:11 pm; edited 2 times in total

stocks hunter


Manager - Equity Analytics
Manager - Equity Analytics
WHAT??????? What a Face

Jana

Jana
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Gainer wrote:CABO currently Earning per sharer 160.00 Ruppes.

I feel I missed this .. LLUB and RENU in uptrend continuously.. SO CABO may be pass 150/=

Still I am thinking to enter this ..???? Shocked

Takecharge


Manager - Equity Analytics
Manager - Equity Analytics
not too late Jana Very Happy

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@Jana wrote:
@Gainer wrote:CABO currently Earning per sharer 160.00 Ruppes.

I feel I missed this .. LLUB and RENU in uptrend continuously.. SO CABO may be pass 150/=

Still I am thinking to enter this ..???? Shocked
CABO appears to be on everyone's mind now. In this recent run, CABO's price has been shadowing LLUB's price (about 40%). By that arithmetic, it is conceivable that, if LLUB goes to Rs 400, CABO could reach Rs 160.
But be cautious. The fall, if it comes, will be as steep as the rise has been.

anu

anu
Manager - Equity Analytics
Manager - Equity Analytics
RENU may be a better bet with good cash balances. Fairly illiquid. But lack of liquidity do drive the price up faster.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
YEs antonym talked about CABO at various stages. He also talked about it when it was below Rs 100. Now people have started to notice when is has run 60% up. Yes it can go up further, but as he said, be aware of the falling possibility also.

I remember in 2011 when this traded at Rs 110 and ran to Rs 180s. Then it fell to Rs 70s.

But there is little chance that it will fall that far again with it portfolio valutions and earnings.





@Antonym wrote:
@Jana wrote:
@Gainer wrote:CABO currently Earning per sharer 160.00 Ruppes.

I feel I missed this .. LLUB and RENU in uptrend continuously.. SO CABO may be pass 150/=

Still I am thinking to enter this ..???? Shocked
CABO appears to be on everyone's mind now. In this recent run, CABO's price has been shadowing LLUB's price (about 40%). By that arithmetic, it is conceivable that, if LLUB goes to Rs 400, CABO could reach Rs 160.
But be cautious. The fall, if it comes, will be as steep as the rise has been.

Bond


Manager - Equity Analytics
Manager - Equity Analytics
Once again some of you act as you started on the CSE yesterday.
No memory .... Issue of the past is not in the past. All are related ACAP CABO RENU NDB AAIC and how SHL became a shareholder in NDB

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@Bond wrote:Once again some of you act as you started on the CSE yesterday.
No memory .... Issue of the past is not in the past. All are related ACAP CABO RENU NDB AAIC and how SHL became a shareholder in NDB
@Bond: It appears that you have some information that many of us are unaware of. Please tell us what you are referring to.

47CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000) - Page 2 Empty ADD some CABO in your PF Wed Sep 17, 2014 5:47 pm

Jana

Jana
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CABO Another "C" series will go up further..!!
52 week low=== 89.00 ..
52 Week high===139.80
all time high=== 189.90
NAV=== 192.50
last quarter EPS=== 6.17

If the LLUB goes up then CABO also go up

seems like CABO also collection going on... keep on eye ..
if you want buy just buy little bit little don't grab.... Very Happy

any one agree with me...

slmarket2


Manager - Equity Analytics
Manager - Equity Analytics
problem is they don't give good dividend. like RENU

SHARK aka TAH

SHARK aka TAH
Expert
Expert
@Jana wrote:CABO Another "C" series will go up further..!!
52 week low=== 89.00 ..
52 Week high===139.80
all time high=== 189.90
NAV=== 192.50
last quarter EPS=== 6.17

If the LLUB goes up then CABO also go up

seems like CABO also collection going on... keep on eye ..
if you want buy just buy little bit little don't grab.... Very Happy

any one agree with me...
What you think of CTLD bounce bounce bounce rabbit drunken Sleep

shadow walker

shadow walker
Vice President - Equity Analytics
Vice President - Equity Analytics
i think all time high 330 dear..

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