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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » PINS - $12" MANDATORY INBOUND VISITOR’S INSURANCE SCHEME (MIVIS)

PINS - $12" MANDATORY INBOUND VISITOR’S INSURANCE SCHEME (MIVIS)

5 posters

Go down  Message [Page 1 of 1]

LHW

LHW
Senior Equity Analytic
Senior Equity Analytic

The $ 12 Covid-19 insurance, which is offered by Sri Lanka Tourism together with People’s Insurance, is comparatively low compared to other Asian competitors and was made mandatory, as most travel insurances obtained by tourists do not cover Covid-19-related expenses and even if they do, they might not cover the intermediary care centres in Sri Lanka. She also claimed that this Covid-19 insurance which grants a $ 50,000 coverage has been commended by many tourists. 

http://www.themorning.lk/monthly-target-of-100000-tourists-for-2022/

PINS - $12" MANDATORY INBOUND VISITOR’S INSURANCE SCHEME (MIVIS) Bd8d1910

ErangaDS likes this post

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics

I'm surprised even this time also the government haven’t gone with SLIC ,where treasury has 100% holding. It could have been a good approach considering current forex issues. This move has again show’s how the government is backing PINS & opportunities available for PINS going forward. 💸💸💸

Ekanayake90 and LHW like this post

LHW

LHW
Senior Equity Analytic
Senior Equity Analytic

It seems like this will be a new norm in the tourism industry.

"Thailand to charge a fee of $9 from foreign tourists-
The additional fee of $9 will be added to the price of the airline ticket, and will be part of the Thai government’s sustainable tourism plans. The country is expecting a rise in tourism this year, after two dismal years of inbound tourism. Thailand is hoping to get somewhere between 5 to 15 million foreign arrivals this year.

https://timesofindia.indiatimes.com/travel/travel-news/thailand-to-charge-a-fee-of-9-from-foreign-tourists/as88863858.cms

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics

According to the sources PINS selected through open tender procedure.Out of the $ 12 fee, $ 3 will be taken by the SLTDA, $9 will be insurance premium & targeting $100Mn foreign exchange to the country till 2025
.
.
If this will be materialized , It will add $75Mn to the topline of Peoples insurance PLC(PINS).

ErangaDS and K.R like this post

Vasyan


Manager - Equity Analytics
Manager - Equity Analytics

LGIL , COOP is much bettter option to buy now .. all other insurance shares went up so these two will go up .100% return possible

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics

Pins will record 13+ earnings for the FY 2022 if the targets can be met. With the help of new found $ fortune, I believe PINS will trade at higher PER multiples than its peers going forward . (Industry avarage PER 14)
+ Rs 3 dividend(FY2021) can be expected( 50% dividend policy )

K.R and Biggy like this post

K.R


Equity Analytic
Equity Analytic

AAIC had a marothon run towards 100s. Will there be a similar journey for PINS?

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics

ErangaDS wrote:Pins will record 13+ earnings for the FY 2022 if the targets can be met. With the help of new found $ fortune, I believe PINS will trade at higher PER multiples than its peers going forward . (Industry avarage PER 14)
+ Rs 3 dividend(FY2021) can be expected( 50% dividend policy )

According to the numbers published & continued ,Pins likely to report EPS 3.00 (TTM PER : 6.4 @ currant MP 47) for Q1/22. 

As expected it will report 13+ earnings for the FY 22.PINS - $12" MANDATORY INBOUND VISITOR’S INSURANCE SCHEME (MIVIS) 802e7e10

K.R likes this post

K.R


Equity Analytic
Equity Analytic

50 to 41 ,what is the reason for this sudden price drop?

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics

Below par Q4 results(refer PLC Q3 )might be the reason, but holding well above 40.
There will be a major turnaround from Q1 (22/23) onwards.


New requirements for travellers arriving in Sri Lanka (17th February 2022)

3. All Tourist visa and Foreign Passport Holders (excluding Diplomatic passport holders and family) require mandatory Sri Lanka COVID-19 Insurance coverage at a cost of USD 12 which has a cover of USD 75,000 for one month.
To be purchased online https://portal.pionline.lk/covidinsurance/ or on arrival.
The COVID 19 Insurance coverage is not required to board an aircraft but upon landing in Sri Lanka, he/she must purchase the policy prior to leaving the respective airport in Sri Lanka.

4. Sri Lankan passport holders do not require the COVID-19 Insurance coverage when traveling to Sri Lanka

https://www.newswire.lk/2022/02/18/new-requirements-for-travellers-arriving-in-sri-lanka/PINS - $12" MANDATORY INBOUND VISITOR’S INSURANCE SCHEME (MIVIS) E88f2d10

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics

https://economynext.com/sri-lanka-welcomes-96000-tourists-in-feb-2022-led-by-russia-91119/

In February 96,507 travellers had visited the country taking the total number of tourists to 178,834 in 2022.

K.R likes this post

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics

Ekanayake90 wrote:According to the sources PINS selected through open tender procedure.Out of the $ 12 fee, $ 3 will be taken by the SLTDA, $9 will be insurance premium & targeting $100Mn foreign exchange to the country till 2025
.
.
If this will be materialized , It will add $75Mn to the topline of Peoples insurance PLC(PINS).

Sri Lanka saw a total of 188,656 tourist arrivals so far and during the first three days of March 9,822 travelers.
.
In terms of imported cases, only 328 foreigners have tested positive for COVID-19.
.
Sri Lanka devalues rupee, expects Rs230 to dollar rate: Central Bank
.

https://economynext.com/sri-lanka-devalues-rupee-expects-rs230-to-dollar-rate-central-bank-91377/

https://www.ft.lk/news/1-147-COVID-19-cases-detected-over-the-weekend/56-731591

https://www.ft.lk/front-page/Sri-Lanka-Tourism-flies-higher-with-Emirates-Airlines-joint-promotions/44-731600

K.R likes this post

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