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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Exciting RICH

Exciting RICH

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20110630

Exciting RICH - Page 3 Empty Exciting RICH

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Exciting RICH - Page 3 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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Post Sun Jul 03, 2011 10:20 pm by tubal

Rolling on the floor laughing at the negative rep that someone has given me for RICH. I advocated getting out of RICH when the last quarter results came out. Give negative reps to your hearts content but it will not wipe out your loss :-)

And as for marketwatch, he forgot to mention what the positives are:
amiable wrote:Generally, in a diversified group time to time one or two subsidiaries can have issues .....that alone cannot determine every thing as long as overall prospects are satisfactory they continue to perform well. ....It is not possible to ignore all other positive aspects and discuss only a single issue. ..thereare so many good things..

He also forgot to mention why exactly RICH is attractive in the medium term. But then that's marketwatchs style. Positive reinforcement through cut and paste.

Post Sun Jul 03, 2011 11:20 pm by nkalansu

@tubal wrote:Rolling on the floor laughing at the negative rep that someone has given me for RICH. I advocated getting out of RICH when the last quarter results came out. Give negative reps to your hearts content but it will not wipe out your loss :-)

And as for marketwatch, he forgot to mention what the positives are:
amiable wrote:Generally, in a diversified group time to time one or two subsidiaries can have issues .....that alone cannot determine every thing as long as overall prospects are satisfactory they continue to perform well. ....It is not possible to ignore all other positive aspects and discuss only a single issue. ..thereare so many good things..

He also forgot to mention why exactly RICH is attractive in the medium term. But then that's marketwatchs style. Positive reinforcement through cut and paste.

To : Tubal

Overall performance of RICH is much better than what has been happening in the past. So why are you giving negative comments on RICH and advising to get rid of RICH?. Please let us know why... anything that we don't know ??... that you know..?? Please share your thoughts.

Also please account that from 1st April 2011 tax rate applicable to Corporations is 28%. So RICH and other companies getting tax reduction of 7%. RICH's performance can be enhanced by that tax savings too. And I really don't know whether plantation companies are getting even reduced tax rate than 28%. If its the case RICh is benefited from that too.

Post Sun Jul 03, 2011 11:23 pm by gann

Going by the conversations it seems many are holding RICH. Hope you guys strike it RICH soon. my profile footer may be of some consolations till then Smile

Post Sun Jul 03, 2011 11:37 pm by Antonym

@gann wrote:Going by the conversations it seems many are holding RICH. Hope you guys strike it RICH soon Smile Read my profile footer for any consolations till then.
@gann: Buying this share quickly is the easiest way to get RICH quick.
I would imagine that it's exciting to be RICH. But Exiting from RICH is an entirely different matter! Wink

avatar

Post Mon Jul 04, 2011 6:23 am by tubal

@nkalansu wrote:
@tubal wrote:Rolling on the floor laughing at the negative rep that someone has given me for RICH. I advocated getting out of RICH when the last quarter results came out. Give negative reps to your hearts content but it will not wipe out your loss :-)

And as for marketwatch, he forgot to mention what the positives are:
amiable wrote:Generally, in a diversified group time to time one or two subsidiaries can have issues .....that alone cannot determine every thing as long as overall prospects are satisfactory they continue to perform well. ....It is not possible to ignore all other positive aspects and discuss only a single issue. ..thereare so many good things..

He also forgot to mention why exactly RICH is attractive in the medium term. But then that's marketwatchs style. Positive reinforcement through cut and paste.

To : Tubal

Overall performance of RICH is much better than what has been happening in the past. So why are you giving negative comments on RICH and advising to get rid of RICH?. Please let us know why... anything that we don't know ??... that you know..?? Please share your thoughts.

Also please account that from 1st April 2011 tax rate applicable to Corporations is 28%. So RICH and other companies getting tax reduction of 7%. RICH's performance can be enhanced by that tax savings too. And I really don't know whether plantation companies are getting even reduced tax rate than 28%. If its the case RICh is benefited from that too.

Who is asking anyone to sell now? I said you should have sold this about a month ago. Now you have automatically become a long term investor. You guys expected RICH to produce miracles but it didn't. That means the high PE you guys have allocated to it was unjustified. Additionally, RICH shot up like that because EPF bought in heavily and their execution was simply horrible.

As for tax rate, why should anyone by RICH just because the corporate tax rate has been reduced? It applies to all the companies (that do not happen to enjoy a tax holiday)

investor1984

Post Mon Jul 04, 2011 9:14 pm by investor1984

@tubal wrote:
@nkalansu wrote:
@tubal wrote:Rolling on the floor laughing at the negative rep that someone has given me for RICH. I advocated getting out of RICH when the last quarter results came out. Give negative reps to your hearts content but it will not wipe out your loss :-)

And as for marketwatch, he forgot to mention what the positives are:
amiable wrote:Generally, in a diversified group time to time one or two subsidiaries can have issues .....that alone cannot determine every thing as long as overall prospects are satisfactory they continue to perform well. ....It is not possible to ignore all other positive aspects and discuss only a single issue. ..thereare so many good things..

He also forgot to mention why exactly RICH is attractive in the medium term. But then that's marketwatchs style. Positive reinforcement through cut and paste.

To : Tubal

Overall performance of RICH is much better than what has been happening in the past. So why are you giving negative comments on RICH and advising to get rid of RICH?. Please let us know why... anything that we don't know ??... that you know..?? Please share your thoughts.

Also please account that from 1st April 2011 tax rate applicable to Corporations is 28%. So RICH and other companies getting tax reduction of 7%. RICH's performance can be enhanced by that tax savings too. And I really don't know whether plantation companies are getting even reduced tax rate than 28%. If its the case RICh is benefited from that too.

Who is asking anyone to sell now? I said you should have sold this about a month ago. Now you have automatically become a long term investor. You guys expected RICH to produce miracles but it didn't. That means the high PE you guys have allocated to it was unjustified. Additionally, RICH shot up like that because EPF bought in heavily and their execution was simply horrible.

As for tax rate, why should anyone by RICH just because the corporate tax rate has been reduced? It applies to all the companies (that do not happen to enjoy a tax holiday)


Aggressive & Accurate Tubal... That's why i love this forum... We got so many people who are masters in the Investment field. Lets keep this goin on and on and on... lets make productive arguments like this... Lets make this forum better and better.. About RICH ... I think its a real BLUE CHIP.. A counter worth holding for long time, I think its a counter more suitable for a investment portfolio rather than trading portfolio... Diversified.. Controlled by a real good business men ( Dr Yaddehige ) , who is reputed , respected & visionary..

Rajitha

Post Mon Jul 04, 2011 10:59 pm by Rajitha

@Aamiable wrote:Medium term RICH seem to be attractive.

Medium term I would exit this share from what I have read from here if I have RICH! Then enter after few years time when their expansions are not putting a huge financial burdern on the Quarterly reports!

Lets face it no one is CSE going to appreciate a company that's going to produce weak quarterly reports in exchange for future RICHers!
From my small experience so far its better to buy the shares just before these future projects start making money! Until then there is a huge chance the share price might stagnate or g down because of the weak quarterly reports!

avatar

Post Tue Jul 05, 2011 10:04 pm by Quibit

Chinwi, I am sure you will be very happy to read one of tomorrows newspaper articles (read daily news) but likewise you will be surprised and shocked in 2 weeks as to what you said!! Only time will tell you the truth!!!

avatar

Post Tue Jul 05, 2011 10:28 pm by antxster

Just wondering. To hold or not to hold this share? I bought this share @ Rs 13.80

mark

Post Tue Jul 05, 2011 10:41 pm by mark

@Quibit wrote:Chinwi, I am sure you will be very happy to read one of tomorrows newspaper articles (read daily news) but likewise you will be surprised and shocked in 2 weeks as to what you said!! Only time will tell you the truth!!!

Suspect Suspect
news paper isn't printed yet ne scratch

econ

Post Wed Jul 06, 2011 4:01 am by econ

herewe go.. news has printed.

http://www.dailynews.lk/2011/07/06/bus01.asp


Richard Pieris to invest US$ 80 m

On Indonesian palm oil plantation:

Ravi LADDUWAHETTY

Diversified blue chip Richard Pieris and Company will shortly invest US$ 80 million on a 16,000 hectare palm oil plantation in Indonesia.

“We are in the process of serious negotiations to take over 16,500 hectares of land in Indonesia, Richard Pieris Group Chairman Dr. Sena Yaddehige told Daily News Business.

Dr Sena Yaddehige

He said the company was in an advanced stage of negotiations because the initial commitment to the land is around US$15 million and that he was trying to risk manage this investment which will be invested by the Group. “The company will be getting effectively only 11,000 acres and the remainder will go in for land settlements,” he said.

“Richard Pieris has always been in plantations and palm oil has been an industry which we have always been passionate about. We have even over 2,500 hectares of palm oil plantations in Sri Lanka. We will add a further 1,000 hectares to this,” he said.

“We would like to increase it further but Sri Lanka does not have that volume of land.

He said that had the land been available in Sri Lanka, he would have opted to have the palm oil plantation expanded in Sri Lanka. “I would love to do another 5000 hectares of palm oil in Sri Lanka. I have also been offered another 65,000 hectares of land for palm oil cultivation in another country, he said. He was tightlipped with the destination of investment.

“I have a Memorandum of Understanding (MOU) for the 65,000 hectares but initial work will be the Indonesian operation, he said.

The principal aim of this palm oil plantation would be for export as palm oil is a unique dual use product. It can be converted into bio-diesel profitably with the price going upto US$80 per barrel and the market is extremely good with the number of mouths to be fed arising daily especially in India and China. After all this is the poor man’s ghee while it is also an important food product,” he said.

It is going to be really hard work with a US$700 million investment for the 100,000 hectares plantation and it is bound to take around 10 years. But that investment does not have to go in full time cash for a start. The project will start generating funds for reinvestment for the third year onwards and we will be doing 100,000 hectares annually for ten years, he said.

He also said that his dream was to make Richard Pieris, a billion dollar company but that would be a long term vision over the next five to ten year period. “We are at US$ 300 million now and the next target will be to make Richard Pieris a US$ 500 million group within the next two years,” he said.

The targeted US $ 1 billion for the group will comprise US$ 500 million locally and the second US$ 500 million from overseas. “I have an excellent team with me and I expect them to take the Group forward to reach these elusive targets,” he said.

econ

Post Wed Jul 06, 2011 4:05 am by econ

I hope this may end carsons monopoly in palm oil business.

econ

Post Wed Jul 06, 2011 4:09 am by econ

Yesterday massive foriegn buiyng was witnessed in JKH.. I think RICH may also be a target of foreign funds as RICH is highly liquid share.
foreign funds usually buy liquid counters with a good brand name.
comapre to JKH or carson, RICH is undervalued if you comapare PER values for all three counters.
RICH : 13.5 , JKH : 21.6 , CARS: 24.5


avatar

Post Wed Jul 06, 2011 5:51 am by ShareShares

It was due to force selling RICH came down, now there is no evidence of selling, like all other stacks RICH can recover slowly. After the subdivision many have collected at affordable levels on credit. Subdividing in to ten to to fifteen shares is also risky. In the past foreign buying was evident on this share. Broker firms also recommend large cap shares these days, RICH may take some time to recover. I am just holding . One day this might start moving. With new IPOs coming to CSE investors might concentrate on RCL SAMP this week. RICH may recover slowly.

avatar

Post Wed Jul 06, 2011 6:31 am by Quibit

@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.

Read Dr Yaddehiges's interview. Looks like he had forgotten about the 150,000 Acres he said to have already acquired for Palm planantion. Will he forget about the Insurance and Finance company he is going to buy or the university he is expected to setup?? When you lie, often you get caught in your own web of lies...

Richard Pieris to invest US$ 80 m

Diversified blue chip Richard Pieris and Company will shortly invest US$ 80 million on a 16,000 hectare palm oil plantation in Indonesia.

“We are in the process of serious negotiations to take over 16,500 hectares of land in Indonesia, Richard Pieris Group Chairman Dr. Sena Yaddehige told Daily News Business.

He said the company was in an advanced stage of negotiations because the initial commitment to the land is around US$15 million and that he was trying to risk manage this investment which will be invested by the Group. “The company will be getting effectively only 11,000 acres and the remainder will go in for land settlements,” he said.

“Richard Pieris has always been in plantations and palm oil has been an industry which we have always been passionate about. We have even over 2,500 hectares of palm oil plantations in Sri Lanka. We will add a further 1,000 hectares to this,” he said.

“We would like to increase it further but Sri Lanka does not have that volume of land.

He said that had the land been available in Sri Lanka, he would have opted to have the palm oil plantation expanded in Sri Lanka. “I would love to do another 5000 hectares of palm oil in Sri Lanka. I have also been offered another 65,000 hectares of land for palm oil cultivation in another country, he said. He was tightlipped with the destination of investment.

“I have a Memorandum of Understanding (MOU) for the 65,000 hectares but initial work will be the Indonesian operation, he said.

The principal aim of this palm oil plantation would be for export as palm oil is a unique dual use product. It can be converted into bio-diesel profitably with the price going upto US$80 per barrel and the market is extremely good with the number of mouths to be fed arising daily especially in India and China. After all this is the poor man’s ghee while it is also an important food product,” he said.

It is going to be really hard work with a US$700 million investment for the 100,000 hectares plantation and it is bound to take around 10 years. But that investment does not have to go in full time cash for a start. The project will start generating funds for reinvestment for the third year onwards and we will be doing 100,000 hectares annually for ten years, he said.

He also said that his dream was to make Richard Pieris, a billion dollar company but that would be a long term vision over the next five to ten year period. “We are at US$ 300 million now and the next target will be to make Richard Pieris a US$ 500 million group within the next two years,” he said.

The targeted US $ 1 billion for the group will comprise US$ 500 million locally and the second US$ 500 million from overseas. “I have an excellent team with me and I expect them to take the Group forward to reach these elusive targets,” he said.

http://www.dailynews.lk/2011/07/06/bus01.asp

STOCK HUNTER

Post Wed Jul 06, 2011 7:12 am by STOCK HUNTER

I heard that main reason is there are many RICH shires ....

any one who knows how can we find them (how many shares , who has

brought them etc)

thanks

avatar

Post Wed Jul 06, 2011 7:24 am by ABEST

Shares (Millions) 1,937.492
ROE 38.216
52-Week Range 16.00 - 5.47
Earnings 0.881
Last Dividend Reported 0.100 Final
http://www.bloomberg.com/apps/quote?ticker=RICH:SL

Slstock

Post Wed Jul 06, 2011 7:32 am by Slstock

@Quibit wrote:
@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.

Read Dr Yaddehiges's interview. Looks like he had forgotten about the 150,000 Acres he said to have already acquired for Palm planantion. Will he forget about the Insurance and Finance company he is going to buy or the university he is expected to setup?? When you lie, often you get caught in your own web of lies...

Note 65000 hectares = 160615 Acres.

If you approximate numbers from what Chinwi heard and the newspaper article, the contradiction is

“I have a Memorandum of Understanding (MOU)" Vs whether he has already acquired ?

It is good if one can know when the News Paper interview was held ( not the publishing date of the article) vs AGM date before we can figure out whether he is lying to get to the bottom of this.

Quibi:


@Quibit wrote:Chinwi, I am sure you will be very happy to read one of tomorrows newspaper articles (read daily news) but likewise you will be surprised and shocked in 2 weeks as to what you said!! Only time will tell you the truth!!!

If you know something special it would help to know now than waiting 2 weeks. Is this issue about MASK plantation wage situation?




avatar

Post Wed Jul 06, 2011 7:39 am by Soundchips

RICH has reported good profits , good time to start collecting for couple of weeks and see.

avatar

Post Wed Jul 06, 2011 9:13 am by nkalansu

@STOCK HUNTER wrote:I heard that main reason is there are many RICH shires ....

any one who knows how can we find them (how many shares , who has

brought them etc)

thanks


Total Number of issued shares = 1,937.49 Million shares

Foreign Holding = 1,149.10 Million shares ( About 60% of total issued shares)

So locals are playing around with 788.39 Million shares

avatar

Post Wed Jul 06, 2011 9:42 am by nkalansu

RICH shares - Lot of activity today

Chinwi

Post Wed Jul 06, 2011 11:50 pm by Chinwi

Over liquidity problem for the shares like RICH is a matter of time.

When there are lot of shares in the market, with lot of individuals, normally the prices are kept low due to over supply. When there is an upward trend the sellers flock in faster than in illiquid shares.

After few seasons when a company progress into its target stages the institutional and high net people come into action and most of the shares are deposited in their bins. Usually with improved ratios, prices go up and the share become non-high liquid. When floating numbers become low the prices go up further.

I can remember how the shareholders became angry when SAMP issued 1:1 rights @ 10/- in 1989. It was trading @ 22/- and after the announcement it fell to 10/- . Lot of shares invaded the market. People who bought it @ 22/- lost half of their value. Some of them were intelligent enough to buy rights @ 10/-. We know the value of SAMP now, including few bonus and splits.

I feel if you can select and collect a considerable amount of fundamentally sound , low priced share with high liquidity and forget it for years you may become a high-net worth person some day. All depend on your holding power . i.e., the cash flow available for other requirements in life.

Marketinvest

Post Thu Jul 07, 2011 12:02 am by Marketinvest

Too many shares in the market for rich causing problems

Malan1986

Post Thu Jul 07, 2011 12:09 pm by Malan1986

@Marketinvest wrote:Too many shares in the market for rich causing problems
Is this worth to buy in current price??

STOCK HUNTER

Post Thu Jul 07, 2011 4:08 pm by STOCK HUNTER

Mata nam dan RICH athi wela ........... No

ssb

Post Thu Jul 07, 2011 4:25 pm by ssb

RICH keep make me Poor Smile
hope for best ,
but prepare for worse .
Hard Work

avatar

Post Thu Jul 07, 2011 6:18 pm by schacha

What a share..!
Really fed up..

avatar

Post Thu Jul 07, 2011 9:02 pm by nkalansu

@STOCK HUNTER wrote:Mata nam dan RICH athi wela ........... No


Hi friend...

In my opinion Richard Pieris & Company is a long term investment. ( 3 - 5 year) I do not think you could get quick gains from it. So if you have holding power. Please hold on. You will not regret.



Last edited by nkalansu on Thu Jul 07, 2011 9:03 pm; edited 2 times in total (Reason for editing : spelling mistakes)

avatar

Post Thu Jul 07, 2011 9:34 pm by Aamiable

I a portfolio all stocks would not move at once…. Some take weeks to rebound others months. Some go down and recover. ….Others are stagnant,…. if the earnings are good after few months they pick up.
Smile

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