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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » EAST WEST PROPERTIES PLC (EAST.N0000)

EAST WEST PROPERTIES PLC (EAST.N0000)

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26EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Feb 19, 2020 4:36 pm

Teller


Moderator
Moderator
@invest2018, actually i dont have latest updates. Lets ask some members to update.

27EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Feb 19, 2020 5:30 pm

Ekanayake90


Manager - Equity Analytics
Manager - Equity Analytics
Investment Property
(a) East West Properties PLC
Investment Properties of the Company consists of Warehouse No.I, Warehouse No.II and Warehouse No III. The Company has adopted the cost model to value the Investment Properties as required by “LKAS 40 –Investment Property”. The above investment properties details are as follows.
Location
Warehouse No.I ‐81/11, 3rd Lane, New Nuge Road, Peliyagoda
Warehouse No.I
‐ Mezzanine Floor 81/11, 3rd Lane Peliyagoda
Warehouse No.II ‐81/12, 3rdLane, New Nuge Road Peliyagoda
Warehouse No.III ‐81/12, 3rdLane, New Nuge Road Peliyagoda
Extent 27,342 sq.ft.
2,390 sq.ft.
12,967 sq.ft.
34,863 sq.ft.
Cost (Rs.) 13,389,223/‐
7,162,230/‐
21,841,098/‐
63,231,316/‐
The carrying amount of above Investment Properties as at 31st December 2019 amounting to Rs.60,432,599/‐
The Investment Properties had been revalued by same independent valuer as at 31.03.2015. The Company has classified above properties as Investment Properties and revaluation surplus which is related to investment properties has not been incorporated to the books of accounts.

Leasehold Property ‐ Company
640 sqft
640 sqft
2,957,228/‐
8,382,929/‐
Leasehold Land includes leasehold rights to land owned by Urban Development Authority situated at 3rdLane, New Nuge Road, Peliyagoda which is on a 99 year lease. Leasehold Land amortized over their remaining period of lease.
The Company recognized Leasehold Property at cost and according to the last valuation done by Messers. Haleem Ghouse SCV, LIV.B.Com, ATM, PHF, MPVP Corporate & Registered Valuer as at 31.03.2015, the fair value of the property is Rs.515,677,225/‐

28EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Feb 19, 2020 9:35 pm

Kaish86


Manager - Equity Analytics
Manager - Equity Analytics
True nav was not shown in balnance sheet. Many aseets pending revaluation. Auditor should be summoned to SLAASMB

29EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Feb 19, 2020 11:58 pm

Ekanayake90


Manager - Equity Analytics
Manager - Equity Analytics
Refer ASPH 2018 report. Similar scenario,after the revaluation NAV increased to 800RS from 90RS.

30EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 8:20 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a lesser price from other shareholders.

31EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 10:15 am

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
@Invest2018 wrote:Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a  lesser price from other shareholders.

NAV should increase by 10-15 neh , they might be upto something. Delisting maybe?

32EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 10:31 am

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Ekanayake90 wrote:
@Invest2018 wrote:Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a  lesser price from other shareholders.

NAV should increase by 10-15 neh , they might be upto something. Delisting maybe?
Nahil is currently in Colombo.

33EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 11:46 am

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
@Quibit wrote:
@Ekanayake90 wrote:
@Invest2018 wrote:Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a  lesser price from other shareholders.

NAV should increase by 10-15 neh , they might be upto something. Delisting maybe?
Nahil is currently in Colombo.

We can expect something very soon then💰

Incase of a delisting scenario what would be the offering price ? (50% premium to the NAV?)

34EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 1:03 pm

Kaish86


Manager - Equity Analytics
Manager - Equity Analytics
Share buy back. At a minimum of book value. Book value still don't reflect true assets value

35EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 9:19 pm

Chanaka303


Equity Analytic
Equity Analytic
@Quibit wrote:
@Ekanayake90 wrote:
@Invest2018 wrote:Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a  lesser price from other shareholders.

NAV should increase by 10-15 neh , they might be upto something. Delisting maybe?
Nahil is currently in Colombo.

Let them play their game , 
NAV will increase rs1.5-2 each year (90% book value reflects cash) cheers

36EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Thu Feb 20, 2020 11:38 pm

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
Most recent De-listening scenarios-:

Dunamis Capital PLC(CSES.N0000)
Offer Price-:48.30 RS (2.95 times of NAV)
NAV. -:16.35 RS

AIA Insurance Lanka PLC(CTCE.N0000)
Offer Price-:2500. RS (4 times)
NAV. -:619.97 RS

Property Development PLC(PDL)
Offer price-:123 RS *Rejected by the SH* (2.3 times)
NAV. -:52.85 RS

37EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 9:25 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
Difficult to understand why everyone talking about a delisting. I don’t see any logical reason for owners to delist the company.
Have they given any hint/comment about it in the AGM ?
Any thoughts from the forum

38EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 9:27 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
Difficult to understand why everyone talking about a delisting. I don’t see any logical reason for owners to delist the company.
Have they given any hint/comment about it in the AGM ?
Any thoughts from the forum

39EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 5:06 pm

Chanaka303


Equity Analytic
Equity Analytic
@Ekanayake90 wrote: Most recent De-listening scenarios-:

Dunamis Capital PLC(CSES.N0000)  
Offer Price-:48.30 RS (2.95 times of NAV)
NAV.          -:16.35  RS

AIA Insurance Lanka PLC(CTCE.N0000)
Offer Price-:2500. RS (4 times)
NAV.          -:619.97 RS

Property Development PLC(PDL)
Offer price-:123 RS *Rejected by the SH* (2.3 times)
NAV.          -:52.85 RS

Which one is more profitable for the directors? (Paying a dividend or a buyback)

Directors owns 88-90% shares as per records, in a buyback situation Price will be depends on the no shares they have collected in last few months.(I believe they owns 95+% atm)

*In a buyback situation they have to pay more than its net asset(20+) otherwise minority shareholders wont accept the offer*

40EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 9:40 pm

Eranga87


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I think East-west haven't sound financial performance. this time, they sell their property & investment subsidiaries. their profit was recorded highest one due disposal of investment subsidiaries. It is not good for future prosperity of the company. Auditor emphasis of matter on going concern in 2018 Annual report. therefore, to overcome this problem they sold their investments. How to say this one is viable stock?

41EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 10:01 pm

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Eranga87 wrote:I think East-west haven't sound financial performance. this time, they sell their property & investment subsidiaries. their profit was recorded highest one due disposal of investment subsidiaries. It is not good for future prosperity of the company. Auditor emphasis of matter on going concern in 2018 Annual report. therefore, to overcome this problem they sold their investments. How to say this one is viable stock?

Actually no one is saying this is a valuable stock. The truth is most of our friends got stuck their money in this. But this thing is unpredictable and a mad share. Controlled by a family.

And this was my 1st bought share in CSE. I was lucky to buy @9 and sell @9.20. I didn't knew anything, my dad recommended this to me. But i felt this isn't good and i exited with a profit of 0.02 rs per share 😂 

I can still see that big red value of his portfolio. However they declared a crazy dividend as they sold some property. I barely analysed this share. However this isn't a good share for me. (not satisfying)

But price is dropped now. Maybe they will declare another dividend. Idk. I don't recommend this. I am soooo much away from EAST.

42EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 10:21 pm

Eranga87


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
now, I can see, they maintain the price of the stock. I don't know what happens in future. price may fly at the significant level after uploading the annual report 19/20. will see.. Smile

43EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Fri Feb 21, 2020 11:22 pm

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
@Eranga87 wrote:I think East-west haven't sound financial performance. this time, they sell their property & investment subsidiaries. their profit was recorded highest one due disposal of investment subsidiaries. It is not good for future prosperity of the company. Auditor emphasis of matter on going concern in 2018 Annual report. therefore, to overcome this problem they sold their investments. How to say this one is viable stock?

Its a company which has a more cash pile than its market cap (1.7B cash , 1.1B M.cap-12.5/cash per share)
After the massive dividend they have dump the share in the market to collect at lower price, I believe they have succeed the task.*Wijesuriya's aren’t Pereras or I Nanayakkara - they wants the money out* Basketball

44EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sat Feb 22, 2020 12:18 am

Eranga87


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
cash proceeds were collected from selling longterm investment property. basically, the company must have long term cash generated different different investments rather than a short-term investment. otherwise can't be survive in the longterm.

45EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sat Feb 22, 2020 11:47 am

Chanaka303


Equity Analytic
Equity Analytic
@Ekanayake90 wrote:
@Eranga87 wrote: Very Happy I think East-west haven't sound financial performance. this time, they sell their property & investment subsidiaries. their profit was recorded highest one due disposal of investment subsidiaries. It is not good for future prosperity of the company. Auditor emphasis of matter on going concern in 2018 Annual report. therefore, to overcome this problem they sold their investments. How to say this one is viable stock?

Its a company which has a more cash pile than its market cap (1.7B cash , 1.1B M.cap-12.5/cash per share)
After the massive dividend they have dump the share in the market to collect at lower price, I believe they have succeed the task.*Wijesuriya's aren’t Pereras or I Nanayakkara - they wants the money out*   Basketball

On point:D
Zero debt , Each and every quarter Net Asset will increase(mainly from interest income). Whatever happens it should be above the net assets.Jst wait and watch this will go pass rs20 in no time

"හොද හොද සෙල්ලම් එලිවෙන ජාමෙට"Very Happy

46EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sat Feb 22, 2020 7:18 pm

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics
As far as I remember, there was a quantity transferred within the family members @17-17.5 , when it was trading around 7 RS (June-July 19)
🎉

47EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sat Feb 22, 2020 8:43 pm

Invest2018


Senior Equity Analytic
Senior Equity Analytic
Why everyone so exited about EAST? Any authenticated information about way forward?

48EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sat Feb 22, 2020 11:37 pm

GOSL

GOSL
Equity Analytic
Equity Analytic
@Quibit wrote:
@Ekanayake90 wrote:
@Invest2018 wrote:Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a  lesser price from other shareholders.

NAV should increase by 10-15 neh , they might be upto something. Delisting maybe?
Nahil is currently in Colombo.

Vajira is also in Colombo.

49EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sun Feb 23, 2020 10:03 am

Dr_CSE


Manager - Equity Analytics
Manager - Equity Analytics
Can someone please elaborate how the east owners will be benefited by delisting the share, rather than taking the money out as a big dividend .

50EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Sun Feb 23, 2020 11:02 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
Correct. That’s my point also. No reason for them to delist the company

51EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Mar 04, 2020 10:15 am

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator
Poor EAST now abandoned by all our experts in this forum. 

52EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Mar 04, 2020 12:09 pm

Invest2018


Senior Equity Analytic
Senior Equity Analytic
It’s sliding fast. Any reason

53EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Mar 04, 2020 12:29 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
NOT ONLY EAST ENTIRE MARKET IS SLIDING. WHAT IS THE REASON.

54EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Wed Mar 04, 2020 2:13 pm

Junior investor

Junior investor
Manager - Equity Analytics
Manager - Equity Analytics
don't buy east west instead buy Overseas Realty below 15 or buy aitken spence, royal ceramic, sampath, ndb, acl cable, abans electrical, Richard Peiris export, hayles export, hnb, kegalla plantation , renuka city hotel, dipped products, ioc, industrial asphalt, aitken plantation and ahungalla hotels, keels hotels, lanka hospitals

55EAST WEST PROPERTIES PLC (EAST.N0000) - Page 2 Empty Re: EAST WEST PROPERTIES PLC (EAST.N0000) Mon May 18, 2020 11:13 am

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics
Aren’t this the best share to invest during this pandemic when considering its cash/ debt position and fundamentals?

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