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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Exciting RICH

Exciting RICH

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20110630

Exciting RICH Empty Exciting RICH

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Exciting RICH D3037110

Dr Sena Yaddehige made an exciting speech at RICH AGM today.

RICH is getting into Palm oil business, overseas.  

He reviled that they have already acquired 150,000 Acres of land in some other country and finalizing for getting another 40,000 Acres (16,000 Ha) in Indonesia. Very recently, another country has come forward to offer lands for the company and they are considering it too.  All are for palm oil cultivation.

They are also to develop 1000 Acres of land in Sri Lanka, leisure and agriculture related business. They hope state of the art vegetable cultivation will be a good venture for the future.

As announced earlier, 15 Acre Navinna land will be converted into a top class International University affiliated to best Universities in UK to produce real graduates suited for the modern world. They have already started the initial work.

He also disclosed that - They are in the middle of acquiring an Insurance company, a Finance company and with their already functioning stock broker firm they are going to offer whole set of services under one roof at all the Arpico Super Centers in near future.

He invited honest, energetic, capable, initiative people to join the Group in the process of building international RICH.

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innam

Post Thu Jun 30, 2011 7:09 pm by innam

thank you for this very useful post AGM update
if what he disclosed is 100% truthful the statement "They are in the middle of acquiring an Insurance company", it would explain the sudden jump in ACAP and the staggering around of AAIC (RICH seems to own 25% of it already).
lets see how exactly this scenario turns out

investor1984

Post Thu Jun 30, 2011 7:16 pm by investor1984

Rumor was spreading for some days that Asia capital is about to sell its stake on Alliance Insurance to a some third party. Richard Peiris was the buying party according to the rumor. At today's RICH AGM Mr Yakdehige in his speech disclose that they are about to acquire a insurance company and a Finance company too .

So is RICH going to BUY AAIC????? How will this affect the price of the 3 companies related to this transaction????

* ACAP price has to appreciate as they are goin to get a capital gain...
* What about AAIC ???? Will it appreciate too as it is goin to be in the big & safe hands of RICH in the future????
* And what about RICH???? Will their price too gonna increase as it is venturing in to new business are???

Guys... What do you think?????



investor1984

Post Thu Jun 30, 2011 7:28 pm by investor1984

@Chinwi wrote:Dr Sena Yaddehige made an exciting speech at RICH AGM today.

RICH is getting into Palm oil business, overseas.

He reviled that they have already acquired 150,000 Acres of land in some other country and finalizing for getting another 40,000 Acres (16,000 Ha) in Indonesia. Very recently, another country has come forward to offer lands for the company and they are considering it too. All are for palm oil cultivation.

They are also to develop 1000 Acres of land in Sri Lanka, leisure and agriculture related business. They hope state of the art vegetable cultivation will be a good venture for the future.

As announced earlier, 15 Acre Navinna land will be converted into a top class International University affiliated to best Universities in UK to produce real graduates suited for the modern world. They have already started the initial work.

He also disclosed that - They are in the middle of acquiring an Insurance company, a Finance company and with their already functioning stock broker firm they are going to offer whole set of services under one roof at all the Arpico Super Centers in near future.

He invited honest, energetic, capable, initiative people to join the Group in the process of building international RICH.



CHINWI... A World without you... I cant imagine ... Welldone again mate . +Rep from me

Chinwi

Post Thu Jun 30, 2011 7:32 pm by Chinwi

Yes innam,
I m also guessing, unable to find out any more at the meeting.

BTW, his body language was very strong and he was talking about taking RICH in to the 'Next Stage'. ( I have seen him at AGMs of last few years )

We know how he got RICH :-)



Thanks invester1984 !

Akalanka

Post Thu Jun 30, 2011 7:35 pm by Akalanka

[quote="Chinwi"]Yes innam,
I m also guessing, unable to find out any more at the meeting.

BTW, his body language was very strong and he was talking about taking RICH in to the 'Next Stage'. ( I have seen him at AGMs of last few years )

We know how he got RICH :-)


Chinwi thanks for your nice update, and what does this mean ?? "We know how he got RICH :-)" mm?? Acquiring rich or being rich??

avatar

Post Thu Jun 30, 2011 7:45 pm by godfrey

any specialists????

avatar

Post Thu Jun 30, 2011 8:12 pm by StocksWatch

Thanks chinwi for updating the forum about this. RICH looks very promising under Dr. Sena Yaddehige's leadership. Wonder which is the finance company he is targetting to acquire?

avatar

Post Thu Jun 30, 2011 8:19 pm by Quibit

@innam wrote:thank you for this very useful post AGM update
if what he disclosed is 100% truthful the statement "They are in the middle of acquiring an Insurance company", it would explain the sudden jump in ACAP and the staggering around of AAIC (RICH seems to own 25% of it already).
lets see how exactly this scenario turns out

Richard Pieris is in trouble after major wage rise in the Maskeliya plantation. Group is struggling to raise finance to fund working capital for plantation companies. It is very unlikely that Richard Pieris would be able to raise Rs 4bn to fund the acquisition of Asian Allinace. Only Time will tell us...

avatar

Post Thu Jun 30, 2011 8:26 pm by wis

Thanking Chinwi.

That's a lot of things to say. I have a feeling this quarter results may not be that good again.

As far as I can see it would take about 4 - 5 years for palm plantations to start harvesting. That means if they start cultivation now, they would get the fruits in around 2015.

avatar

Post Thu Jun 30, 2011 8:58 pm by nkalansu

@Quibit wrote:
@innam wrote:thank you for this very useful post AGM update
if what he disclosed is 100% truthful the statement "They are in the middle of acquiring an Insurance company", it would explain the sudden jump in ACAP and the staggering around of AAIC (RICH seems to own 25% of it already).
lets see how exactly this scenario turns out

Richard Pieris is in trouble after major wage rise in the Maskeliya plantation. Group is struggling to raise finance to fund working capital for plantation companies. It is very unlikely that Richard Pieris would be able to raise Rs 4bn to fund the acquisition of Asian Allinace. Only Time will tell us...

Can you please give detailed explanation as to how you arrived at following conclusions..with facts and figures please...

1. "Richard Pieris is in trouble after major wage rise in the Maskeliya plantation. Group is struggling to raise
finance to fund working capital for plantation companies."

2. "It is very unlikely that Richard Pieris would be able to raise Rs 4bn to fund the acquisition of Asian
Allinace."

avatar

Post Thu Jun 30, 2011 9:53 pm by Quibit

No chairman is going to let his company down.. Especially the chairman of Richard Pieris. We all know about him little too well. Just talk to few of your friends at the Maskeliya Plantation, talk to company Bankers and to the stock brokers. They will tell you a story very differently to what few of you guys heard today.

Research and analysis of a company cannot be done by just going through statement of accounts or reading or listening to the chairmans statement in an annual report. It involves lot more hard work and effort much similar to inventing the pedal mechanism for automobile accelaration.

Only time will tell you the truth. Just like a palm tree which takes 6 year to give it's harvest!!!



Last edited by Quibit on Thu Jun 30, 2011 9:57 pm; edited 1 time in total

Chinwi

Post Thu Jun 30, 2011 9:56 pm by Chinwi

@wis wrote:Thanking Chinwi.

That's a lot of things to say. I have a feeling this quarter results may not be that good again.

As far as I can see it would take about 4 - 5 years for palm plantations to start harvesting. That means if they start cultivation now, they would get the fruits in around 2015.

Obviously.
The overseas plantation venture will be a long journey. I was following BUKI for past 10-15 years and impressed by their way of doing it. ( developing plantations)
In these type projects you have to bare losses / hefty expenditure during first few years. If the company couldn't support the bottom line with other income it will report negative EPS affecting share price. When the plants reach maturing stage the picture changes drastically with the huge gains.
I think RICH may manage the projects well.

Somehow, The Chairman said the finance cost , distribution cost and other costs will be definitely going up in next quarters . (we saw this in the last quarter also).
I don't mean it will bring down current EPS , we have to consider the income growth of the current ventures.

@stockwatch,
I also have no idea about it.



Tiger

Post Thu Jun 30, 2011 10:15 pm by Tiger

@Quibit wrote:No chairman is going to let his company down.. Especially the chairman of Richard Pieris. We all know about him little too well. Just talk to few of your friends at the Maskeliya Plantation, talk to company Bankers and to the stock brokers. They will tell you a story very differently to what few of you guys heard today.

Research and analysis of a company cannot be done by just going through statement of accounts or reading or listening to the chairmans statement in an annual report. It involves lot more hard work and effort much similar to inventing the pedal mechanism for automobile accelaration.

Only time will tell you the truth. Just like a palm tree which takes 6 year to give it's harvest!!!

Well said QB, I share the same view as you. Only time will tell.

avatar

Post Thu Jun 30, 2011 10:27 pm by seyon

@Chinwi wrote:Dr Sena Yaddehige made an exciting speech at RICH AGM today.

RICH is getting into Palm oil business, overseas.

He reviled that they have already acquired 150,000 Acres of land in some other country and finalizing for getting another 40,000 Acres (16,000 Ha) in Indonesia. Very recently, another country has come forward to offer lands for the company and they are considering it too. All are for palm oil cultivation.

They are also to develop 1000 Acres of land in Sri Lanka, leisure and agriculture related business. They hope state of the art vegetable cultivation will be a good venture for the future.

As announced earlier, 15 Acre Navinna land will be converted into a top class International University affiliated to best Universities in UK to produce real graduates suited for the modern world. They have already started the initial work.

He also disclosed that - They are in the middle of acquiring an Insurance company, a Finance company and with their already functioning stock broker firm they are going to offer whole set of services under one roof at all the Arpico Super Centers in near future.

He invited honest, energetic, capable, initiative people to join the Group in the process of building international RICH.



Thanks Chinwi for the detailed updates. Very useful infor RICH holders.

avatar

Post Thu Jun 30, 2011 10:58 pm by nkalansu

There is no need to explain the story at Maskeliya Plantaions. This company has been loss making for quite some time now (losses in the financial years 2008/2009, 2009/2010) and having their financial problems. So I do not think this company will make a much of a difference to the group. If it makes profits ...then that's very good.

Another interesting development is that RPC Management Services Pvt. Limited, the holding company of Maskeliya Plantations has increased its shareholding of Maskeliya by 2.3 million shares from December 2010 to date, latest being on 07.06.2011 where it acquired 350,000 shares. Pending wage increase to the plantation sector employees, there must be a reason for doing this. The only reason i can see is that RICH sees lot of potential in the business (maskeliya).

However RICH owns two other great plantation companies which are doing very well,namely Kegalle Plantations and Namunukula Plantations where the majority of plantation is rubber. With the expectation of increased rubber prices these companies will contribute very positively to the bottom line of the group which would cancel out any negative contribution from maskeliya.

RICH is the largest Tea and Rubber producer in Sri Lanka. Since RICH is very good at managing plantations i think it is their strong point. So they will manage any overseas Palm oil cultivation project very effectively. It is very good news for RICH holders.

Therefore i am very optimistic of the future of this company even though some are trying to give a gloomy picture of the group.

Disclosure : I hold RICH and intends to increase my current holding.



Last edited by nkalansu on Fri Jul 01, 2011 9:28 pm; edited 1 time in total (Reason for editing : spelling mistakes)

Slstock

Post Fri Jul 01, 2011 1:49 am by Slstock



Many Thanks for the Update Chinwi. Was awaitign your update after the last thread discussion. Appreciate it.

Chinwi

Post Fri Jul 01, 2011 7:23 am by Chinwi

@slstock wrote:

Many Thanks for the Update Chinwi. Was awaitign your update after the last thread discussion. Appreciate it.

I can remember you wanted me to go there.

BTW, There were less attended this time - because of their ' NO Gifts ' announcement. :-). The management appreciated the people who came there and the Chairman delivered a good speech. ( Last time it was very different due to huge crowd )



ssb

Post Fri Jul 01, 2011 7:28 am by ssb

is this mean RICH go UP Smile

Chinwi

Post Fri Jul 01, 2011 11:21 pm by Chinwi

@ssb wrote:is this mean RICH go UP Smile

No dear !

I wrote the comments just to update those who did not get a chance to go there.

I do not expect the share going up just because of this news as this story is about a long process expanding over many years .

I do not like it going up now because with my future cash flow I expect to collect this share. :-) - just teasing.

If lot of long term investors decide to collect RICH at the current prices then it may go up.

Actually, I am shifting from 'buying shares' to 'investing in businesses'. Hence I select RICH as a business I should buy. When you think this way you do not bother much about short term fluctuations , up or down.

Thanks


avatar

Post Fri Jul 01, 2011 11:37 pm by nkalansu

@Chinwi wrote:
@ssb wrote:is this mean RICH go UP Smile

No dear !

I wrote the comments just to update those who did not get a chance to go there.

I do not expect the share going up just because of this news as this story is about a long process expanding over many years .

I do not like it going up now because with my future cash flow I expect to collect this share. :-) - just teasing.

If lot of long term investors decide to collect RICH at the current prices then it may go up.

Actually, I am shifting from 'buying shares' to 'investing in businesses'. Hence I select RICH as a business I should buy. When you think this way you do not bother much about short term fluctuations , up or down.

Thanks




Hi there Chinwi,

I am too interested in investing in RICH as a long term investment and like you investing in businesses rather than buying shares. Since you have attended the AGM I would like to know whether they have disclosed any information about expanding the retail segment ( Arpico Super Centers).

Please share your thoughts.

Thanks

econ

Post Sat Jul 02, 2011 3:04 am by econ

I think Dr yaddehige is true model for Sri Lankans. Unlike other Sri Lankan investors who earned money from many unethical business, He earned his money using his technology innovations and come back to his home country and invest in local business.



Last edited by econ on Sat Jul 02, 2011 3:05 am; edited 1 time in total

Slstock

Post Sat Jul 02, 2011 3:04 am by Slstock

@Chinwi wrote:
@slstock wrote:

Many Thanks for the Update Chinwi. Was awaitign your update after the last thread discussion. Appreciate it.

I can remember you wanted me to go there.

BTW, There were less attended this time - because of their ' NO Gifts ' announcement. :-). The management appreciated the people who came there and the Chairman delivered a good speech. ( Last time it was very different due to huge crowd )




Yes Chinwi. Thanks again for the update. I am glad this Gift Issue is out of the way so only real investors come to the meeting and the Management can focuses more on real business views. I recall Chairman admitted MASK being more exposed to Wage issues but I think KGAL and NAMU might be able to offset any imbalance in the medium term as they did in the past.

Now at CSE ( going by this forum responses also) many seems to be only interested in Short term due to Market conditions.

But for those of us who is interested into "investing in Businesses", I see RICH also as a good long term play. RICH will be good for those who does not have to worry about loosing sleep over it and can hold and forget about it.

avatar

Post Sat Jul 02, 2011 6:21 am by Aamiable

RICH depreciation was small compared to some other shares . hope this returns to normal soon.

avatar

Post Sat Jul 02, 2011 6:46 am by tubal

@Aamiable wrote:RICH depreciation was small compared to some other shares . hope this returns to normal soon.

Thanks MarketWatch for reminding everyone that this has dropped much less than many of the others. So the implication is that the worst is yet to come.

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