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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » SEYLAN BANK PLC (SEYB.N0000)

SEYLAN BANK PLC (SEYB.N0000)

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ROHAN

ROHAN
Manager - Equity Analytics
Manager - Equity Analytics
there are some hot gossip in broker forums,,,Government going to take over SEYLAN BANK ,,,,,any hot news about it... Shocked



Last edited by ROHAN on Wed Jun 01, 2011 12:59 pm; edited 1 time in total

http://lk.duinvest.com/portal/LKCSE/homePage.html

2SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 12:58 pm

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
@ROHAN wrote:there are some gossip in broker forums,,,Government going to take over SEYLAN BANK ,,,,,any hot news about it... Shocked

Previously a news about Chinese coming in...

http://forum.srilankaequity.com/u188

3SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 1:15 pm

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
May be finding reasons to push the share price up !

4SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 1:20 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
as at 31.03.2011, i think govt is having 32%

5SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 1:21 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
ah the rumor mill.

Why would the government take over SEYB?

6SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 1:24 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
After the rights issue , if many did not contribute for their rights and the Govt. paid for them it will get it automatically.

7SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 1:27 pm

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
first they put a fake transaction for 50. now this. next they'll say warren buffet is going to buy it.

i think this'll go the same as TFC.

8SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 5:35 pm

dhamindra


Stock Trader
@ROHAN wrote:there are some hot gossip in broker forums,,,Government going to take over SEYLAN BANK ,,,,,any hot news about it... Shocked

Yeah reliable source informed me too that Sri Lanka Insurance Corperation will buy Seylan Bank...

9SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 5:46 pm

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Definitely. Sure and shot. If the investors are broke and if they can't or won't apply for rights then somebody has to do it. If Seylan cannot find somebody then there is only one person, government.
Government cannot and won't allow an established bank go out of funds. In fact they came forward to protect the bank. So just like TFC government will direct the government institutions EPF, Insurance (and now even Commercial, HNB) to fill the rights. That's what happened to TFC. If I remember correct Seylan bought TFC shares to fill the gap.
Government won't buy Seylan bank. They will fill the unsubscribed rights just like what happened in TFC IPO.



Last edited by duke on Wed Jun 01, 2011 5:49 pm; edited 1 time in total

10SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 5:48 pm

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
According to the March 31 Accounts Gov. through Insurance,BOC and EPF own around 31.59%( Sri Lanka Ins. 15.00,BOC 10.00% and EPF 6.59%)That means already Gov. is the major shareholder.Is n't it?

11SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 6:22 pm

CSE Today

CSE Today
Manager - Equity Analytics
Manager - Equity Analytics
@kam2011 wrote:According to the March 31 Accounts Gov. through Insurance,BOC and EPF own around 31.59%( Sri Lanka Ins. 15.00,BOC 10.00% and EPF 6.59%)That means already Gov. is the major shareholder.Is n't it?

Yes but with the 3:2 rights issue ..if not subcribed the GOV will lose the %...

but my Question is how can any institution buy into shares exceeding the holding 10% according to the stipulated rule of CBSL ["more than 10% of a commercial bank could not be acquire by a single party or consotium of parties acting together" ]...is this regulations only for others & can the GOV institutions such as EPF, ETF, SLIC, BOC..etc etc over ride the Banking ACT...?

12SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 7:14 pm

Fresher


Moderator
Moderator
the rights issue is 1:3 and not 3:2

13SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 7:16 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
what amkes you guys possibly think the government won't subscribe to that rights issue. There is a good chance they will. I am also wondering if these Ceylinco people will sell their rights in the market or not exercise them

14SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 7:19 pm

TuskerLK

TuskerLK
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Possibly a manipulation trick

15SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 7:34 pm

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@CSE Today wrote:
@kam2011 wrote:According to the March 31 Accounts Gov. through Insurance,BOC and EPF own around 31.59%( Sri Lanka Ins. 15.00,BOC 10.00% and EPF 6.59%)That means already Gov. is the major shareholder.Is n't it?

Yes but with the 3:2 rights issue ..if not subcribed the GOV will lose the %...

but my Question is how can any institution buy into shares exceeding the holding 10% according to the stipulated rule of CBSL ["more than 10% of a commercial bank could not be acquire by a single party or consotium of parties acting together" ]...is this regulations only for others & can the GOV institutions such as EPF, ETF, SLIC, BOC..etc etc over ride the Banking ACT...?

May be you are correct as per CBSL rules. But situation in all banks are same. Please look at the following figures.

SAMPATH
Valibel One 15.00%

PAN ASIA
K.D.D.Perera 29.99%
Royal Ceramics 1.29%

NTB
JKH 20.00%
Mackinnons Keels Fina. 9.90%

DFCC
BOC 14.36%
S.L.Ins.-Life 13.00%
EPF 4.47%
ETF 0.76%
NSB 0.51%
S.L.Ins-Gen 0.47%

COMMERCIAL
DFCC 14.92%
EPF 8.45%
S.L.Ins-Life 5.09%
S.L.Ins-Gen 4.37%

UNION BANK
Vista knowledge Pte Ltd 18.52%

HNB
S.L.Ins 11.93%
EPF 7.56%
NSB 2.34%
ETF 0.45%

NDB
BOC 9.97%
EPF 8.77%
S.L.Ins-Gen 5.72%
S.L.Ins-Life 4.75%
ETF 2.60%
NSB 1.01%

HDFC
NHDA 49.73%

Above is the actual situation as per respective financial reports. These figures reflects the Important role played by the Gov. Funds to keep the stock market active and vbrant. How ever it looks like that without the Gov. Funding Banking sector could not run the show in our Country. .




16SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 7:42 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
I think you can have as much shares as you can but your vote will never amount to more than 10%. This doesn't apply if the bank is something you or your family opened

17SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 8:28 pm

surf


Equity Analytic
Equity Analytic
Don't u think it is still good to collect seybx at somewhere around 36-37? If manipulator wants to manipulate, can't we take some kind of advantage from that manipulation?

18SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 8:30 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@surf wrote:Don't u think it is still good to collect seybx at somewhere around 36-37? If manipulator wants to manipulate, can't we take some kind of advantage from that manipulation?

SEYBx at 36-37 is a pretty safe investment. I can't think of too many reasons for this dropping down further.

19SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 10:10 pm

factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics
@CSE Today wrote:
@kam2011 wrote:According to the March 31 Accounts Gov. through Insurance,BOC and EPF own around 31.59%( Sri Lanka Ins. 15.00,BOC 10.00% and EPF 6.59%)That means already Gov. is the major shareholder.Is n't it?

Yes but with the 3:2 rights issue ..if not subcribed the GOV will lose the %...

but my Question is how can any institution buy into shares exceeding the holding 10% according to the stipulated rule of CBSL ["more than 10% of a commercial bank could not be acquire by a single party or consotium of parties acting together" ]...is this regulations only for others & can the GOV institutions such as EPF, ETF, SLIC, BOC..etc etc over ride the Banking ACT...?


Though the Banking Act restricts acquiring more than 10% of the voting shares of a licenced commercial bank, by a single party or consotium of parties acting together, the Act it self given provision for Monetary Board of CBSL to approve a high percentage. Sometime they prescribe timeframes also to reduce the approved holdings in excess of 10%.


However, the concept "parties acting together/Acting-In-Concert" is very difficult to be established.
Anyone can argue that investment of government institutions and government controlled funds also Acting-In-Concert..... (e.g. in recent appoinment of Directors to COMB & HNB)

20SEYLAN BANK PLC (SEYB.N0000) Empty Re: SEYLAN BANK PLC (SEYB.N0000) Wed Jun 01, 2011 11:37 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@mono wrote:I think you can have as much shares as you can but your vote will never amount to more than 10%. This doesn't apply if the bank is something you or your family opened

I am also not sure, but when the DFCC disposed the Comm Shares they told because of the CBSL requirement, also if time permits have look on the 2010/2011 JKH annual report, in the Chairman message, where he talks about complying with the CBSL requirement ( i think he spoke about NTB )

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