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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Exciting RICH

Exciting RICH

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20110630

Exciting RICH - Page 4 Empty Exciting RICH

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Exciting RICH - Page 4 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 Fri Jul 08, 2011 9:43 pm by Aamiable

in the PF which move up in the morning can be seen,….. some of us sell them at the optimum level as they often tend to come down towards afternoon, ……..replace those stock with a fundamentally sound medium term stocks, when they move up medium term go for another set of medium term stocks…. not interested on the business or the directors etc……. not fallen in love with any particular stock….. Not interested in becoming a fist twenty share holders or a director.

I do not want to mention specific stocks which I sold , that can hurt the feelings of investors who collect them.

Post Sat Jul 09, 2011 1:31 am by Aladin

@antxster wrote:Maybe someone is collecting secretly.

10.60 would be the price as i see Sad But i too hold alot at 13 range :p

Post Mon Jul 11, 2011 2:22 pm by Quibit

Richard Pieris to transform Nawinna to global campus
Ravi LADDUWAHETTY
Richard Pieris Group will shortly transform its thirteen acre Nawinna property to an international university.

This transition will also mean that the head office of the Richard Pieris Group will be relocated at Hyde Park Corner while the industrial establishments within the Nawinna premises currently will be shifted to some of the Group’s industrial sites which are available now.

“We will be tying up with top end British universities and the selection will be made from Oxford, Cambridge, Imperial College (University of London), Edinburgh, Durham and Bristol universities, Richard Pieris Group Chairman Dr Sena Yaddehige told Daily News Business.

He has assigned three frontline Vice Chancellors of Sri Lankan universities to conduct negotiations with these universities and the tie up will be subject to only those universities willingness for a partnership.

“I am looking for the correct top-end universities where the graduates passing out of that will be able to rub shoulders with any of the graduates of the frontline universities in any part of the world,” he said.

“When I came to Sri Lanka for the first time, I realized that Nawinna was not the place for industry while I also saw for myself how ill-equipped Sri Lankan graduates were in terms of ability and confidence and that was why I decided to transform Nawinna into an international campus premises,” he said. He also noted that the investment and the infrastructure for the transition was hardly necessary and minimal in the light of the land and the buildings already there. “As for the industries within the Nawinna complex, all which are there will be shifted to the industrial locations of the Group which are already there and in place while the head office will be relocated at Hyde Park Corner,” he said.

http://www.dailynews.lk/2011/07/11/bus08.asp

Post Mon Jul 11, 2011 2:54 pm by suja

I think the news is still positive , Quibit any other reason. As for the acerage he has mentioned I am not sure if it is correct it too is good.

lbnnirmal

Post Mon Jul 11, 2011 2:57 pm by lbnnirmal

Yes it's some sort of good new for the RICH share holders so lets wait and see wt will be hpn with in nxt week or two. hop market will turnover Laughing Laughing Laughing

STOCK HUNTER

Post Mon Jul 11, 2011 3:11 pm by STOCK HUNTER

Ane manda eka eka news nam enawa

but share eka yannema

DOWn ne Sad

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Post Mon Jul 11, 2011 3:47 pm by Quibit

These are called "Fairy Tales".. I have heard enough of these.. during my teenage.
Chinwi.. Whats going to happen to the Insurance Company which RICH has been planning to purchase shortly. Looks like someone else had bought it?

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Post Mon Jul 11, 2011 4:55 pm by sapumal

I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM

kiri

Post Mon Jul 11, 2011 5:08 pm by kiri

@sapumal wrote:I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM
sorry sapumal.mistakenly i clicked -. tomorrow i will give you 2 +.I'm very sorry.

avatar

Post Mon Jul 11, 2011 5:18 pm by sapumal

@kiri wrote:
@sapumal wrote:I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM
sorry sapumal.mistakenly i clicked -. tomorrow i will give you 2 +.I'm very sorry.

It is ok buddy. I don't worry about reps. Smile

Jonathon

Post Tue Jul 12, 2011 6:18 am by Jonathon

i have lost hope in RICH something is wrong with this share

Jude

Post Tue Jul 12, 2011 8:34 am by Jude

RICH is never making me rich Sad

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Post Tue Jul 12, 2011 11:03 pm by Quibit

Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!

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Post Tue Jul 12, 2011 11:12 pm by nkalansu

@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance.

I love listening to his fairy tales!!

Acquisition of AAIC has failed to impact the SOFT first day trading prices. Appears to be the most unsuccessful IPO. It appears all the private placement people have traded today. Poor retailers.

SOFT people must have done a great deal to take controlling stake of AAIC and make the announcement to the market. Main reason is to boost the SOFT first day trading. They have allowed VONE to trade before SOFT and purposely delayed the trading i think.

They have failed. Retailers have failed too. I guess SOFT promoters in this forum has nothing to say now.

May be one or two days time they will make an announcement that they have purchased SLIC to at least take the price to Rs. 29/=. SOFT IPO is a kind of a fairy tale too.

player

Post Tue Jul 12, 2011 11:13 pm by player

why always ppl talking abt RICH....... Mad
this is just a illiquid shit which need million of shares to just move by cents,
btw guys is this undervalued Question Question
to me there is good counters than this..(as a trader)

note-this is ideal long term share for investors who only look at their stocks once a year,understand the nature of this share,this will move slowly,but liquid nature will pull this back to normal bases Twisted Evil

avatar

Post Tue Jul 12, 2011 11:58 pm by nkalansu

@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!


I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

avatar

Post Wed Jul 13, 2011 1:12 am by nkalansu

@player wrote:why always ppl talking abt RICH....... Mad
this is just a illiquid shit which need million of shares to just move by cents,
btw guys is this undervalued Question Question
to me there is good counters than this..(as a trader)

note-this is ideal long term share for investors who only look at their stocks once a year,understand the nature of this share,this will move slowly,but liquid nature will pull this back to normal bases Twisted Evil

Shares which are not liquid (illiquid) are partly responsible for market downturn. They go up rapidly and come down with the same speed. So illiquids have their own disadvantages.

RICH has already established Arpico Insurance Ltd and Arpico Financial Services Ltd on June 22nd and June 27th respectively and likely to exit from AAIC which it controls 25%.

- daily mirror (Mirror Business) 14 -07-2011



Last edited by nkalansu on Thu Jul 14, 2011 6:51 am; edited 1 time in total (Reason for editing : spelling mistakes)

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Post Thu Jul 14, 2011 7:26 am by nkalansu

Total number of shares held by RICH group in AAIC is 9.379 Million shares.
If RICH disposes these shares at current market price at Rs. 130/= (assumption) the likely revenue is Rs. 1.2 Billion. It is interesting to know how much of capital gain will be received by RICH if it proceed with this disposal.

Does anybody know since when RICH is holding AAIC?

Can somebody calculate the capital gain if possible?

Are there any smart people/investors in this forum?



Last edited by nkalansu on Thu Jul 14, 2011 7:27 am; edited 1 time in total (Reason for editing : Additional information)

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Post Thu Jul 14, 2011 8:39 am by early

@nkalansu wrote:Total number of shares held by RICH group in AAIC is 9.379 Million shares.
If RICH disposes these shares at current market price at Rs. 130/= (assumption) the likely revenue is Rs. 1.2 Billion. It is interesting to know how much of capital gain will be received by RICH if it proceed with this disposal.

Does anybody know since when RICH is holding AAIC?

Can somebody calculate the capital gain if possible?

Are there any smart people/investors in this forum?
As at 31/03/2010, the group investement in AAIC is 6,250,600 shares. During 2010/11 financial year, further 3,130,212 shares have been acquired making the total 9,380,812 shares. Total value indicated (which should be the investement value) adds upto Rs.266,033,000/-(i.e. 266Mn). As you say, if the co. generates a revenue of 1.2 bn by disposing the shares, they make a capital gain of close to Rs.1.0Bn. I have given the link below:
http://www.arpico.com/assets/anual-reports/Notes%20to%20the%20Financial%20Statements.pdf
Please go through and analyse yourself too.

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Post Thu Jul 14, 2011 8:50 am by Quibit

@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!

Richard Pieris to establish insurance, finance arms

By Jithendra Antonio
http://print.dailymirror.lk/business/127-local/49969-richard-pieris-to-establish-insurance-finance-arms-.html

Richard Pieris company is likely to establish insurance and finance entities, to further harness the post war potential of the country’s financial sector.

In a recent public notice, Richard Pieris (RICH) group’s company secretaries Richard Pieris Group Services said that two new entities have been incorporated, named Arpico Insurance Ltd on June 22 and Arpico Financial Services Ltd on June 27.

The move came in the light of Softlogic Holdings PLC (SHL) announcing that its subsidiary Softlogic Capital was to acquire over 73% stake of Asian Alliance insurance PLC (AAIC) in which Richard Pieris group (RICH) also have a 25%, making it Richard Pieris’s associate insurance arm. Analysts point out that RICH will soon exit from AAIC if it starts operations of Arpico Insurance Ltd, whilst a major portion of Richard Pieris group’s insurance business that was placed at AAIC will now move to Arpico Insurance.   In the lately released annual report of RICH, it was mentioned that the firm has subscribed for the rights issue of Asian Alliance Insurance PLC last year, making an additional investment of Rs.203 million to maintain its associate status in its insurance arm.

Market sources revealed that RICH Chairman Dr. Yaddehige incorporated an insurance arm titled “Arpico Insurance”, after losing the opportunity to buy a controlling stake of Asian Alliance Insurance (AAIC). It is also anticipated that Dr.Yaddehige will soon dispose Richard Pieris’ stake in AAIC.

Chairman Dr. Sena Yaddehige was not available to comment on Richard Pieris’s new move.

Chinwi

Post Thu Jul 14, 2011 8:54 am by Chinwi

Correct.

RICH had total of 6,250,000 shares of AAIC in 2009.
The cost indicated was 62.5 million.
That means they have got it at par value of 10 Rupees. ?
Buy @ 10/- going to sell @ 130 /- !

( RICH annual report 2009 Page 89 Item C)

Later they added 3.1 million @ around 65/- with the cost of about 200 million.

somehow RICH is going to get over 1 billion gain.

windi5

Post Thu Jul 14, 2011 8:56 am by windi5

Hmm good money rich gonna make. does any body know the capital gain made by the ACAP though recently concluded share sale/purchase agreement. How long Acap had been the manin share holder for AAIC. How this sale effect on ACAP and what will be the next step of ACAP, acquire another company or invest in other tools.

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Post Thu Jul 14, 2011 9:11 am by nkalansu

Hi guys........(Chinwi and early)

Thanks for your calculations. +points for you two from me.

It appears that RICH is about to receive an capital gain in excess of Rs. 1.0 Billion.

It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors.

Chinwi

Post Thu Jul 14, 2011 9:14 am by Chinwi

@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.
Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


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Post Thu Jul 14, 2011 9:23 am by early

@nkalansu wrote:Hi guys........(Chinwi and early)

Thanks for your calculations. +points for you two from me.

It appears that RICH is about to receive an capital gain in excess of Rs. 1.0 Billion.

It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors.

Thanks for the +point nkalansu.Happy to have done the analysis.

Cheers.

Chinwi

Post Thu Jul 14, 2011 9:29 am by Chinwi

Thanks nakalansu.

"It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors. " - good point . thanks.

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Post Thu Jul 14, 2011 9:40 am by Quibit

@Chinwi wrote:
@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.

Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


Capital gains would be more. Coz RICH is planning to sell AAIC shares at a price above Rs 170/=. But setting up a insurance company according to IBSL regulation requires minimum of Rs750 mn. Also turn insurance company into profit it will take minimum 5 years. It took more than 5 years for AAIC. With the increaed competition from many new companies situation is going to different now.


Also all fires known to be regular occurance at Richard Peiris factories now will have to be born by RICH themselves. If you look at the RICH contribution to AAIC over last 10 years, their claims were more than the premium paid. (genuine company involved in ethical business)

Also when calculating capital gains, you have to take into consideration the profits consolidated during previous years.

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Post Thu Jul 14, 2011 10:16 am by nkalansu

@Quibit wrote:
@Chinwi wrote:
@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.

Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


Capital gains would be more. Coz RICH is planning to sell AAIC shares at a price above Rs 170/=. But setting up a insurance company according to IBSL regulation requires minimum of Rs750 mn. Also turn insurance company into profit it will take minimum 5 years. It took more than 5 years for AAIC. With the increaed competition from many new companies situation is going to different now.


Also all fires known to be regular occurance at Richard Peiris factories now will have to be born by RICH themselves. If you look at the RICH contribution to AAIC over last 10 years, their claims were more than the premium paid. (genuine company involved in ethical business)

Also when calculating capital gains, you have to take into consideration the profits consolidated during previous years.


Having cash is important at this point. Rs. 1.2 Bn is a big amount.

The best thing RICH should do is wait till the market gets in to positive territory and get a best price.

RICH must have planned to sell AAIC at Rs. 170/= since they were not in a hurry to sell I think. SOFT on the other hand had their deadlines...... I think they did allow VONE to be traded before SOFT so that they could make the announcement to the market in order to improve prices in the first day trading. But it failed.

Soft lost investor confidence, soft lost reputation and they lost cash too by buying AAIC. I think the IPO funds will surely go for this acquisition. What were they planning to do with the IPO funds as disclosed in the prospectus? Purchase AAIC?

Please provide information that prove to us that the premium paid by RICH to AAIC is higher than the claims made by them. That we like to know.

It appears that RICH group has given big contracts to AAIC. They are about to lose it now.



Last edited by nkalansu on Thu Jul 14, 2011 11:21 am; edited 2 times in total (Reason for editing : Removed inappropriate words)

innam

Post Thu Jul 14, 2011 10:50 am by innam

interesting comment about Richiard Pieris and factory fires

a quick google search turned up 3 fires over the past 5 years (damages may have been around 350 million)
1)a non operational factory owned by Arpico Natural Foam burnt down in 2007
http://vanguard1.vanguardlk.com/lbo/fullstory.php?nid=240051681
2) factory building belonging to Arpico Industrial Development Company destroyed in 2006
http://sundaytimes.lk/061105/FinancialTimes/ft13.3.html
3)foam rubber factory owned by Richard Piris Natural Foam extensively damaged in 2005
http://www.island.lk/2005/01/30/business17.html

they say their mattresses are fire retardent maybe they need to make their factories fire retardent as well. at least no fires in the recent past.

Note that i'm just pointing out the reccurrence of fires in RP factories, i don't want to get into a discussion about the pros and cons of the share

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