FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» කොළඹ කොටස් වෙළඳපොල විශ්ලේෂණය - 2024
by ChooBoy Fri Jul 19, 2024 11:53 am

» Winds of Change: Sri Lanka's Banking Crisis is Stalling Renewable Energy Ambitions of Local Stalwarts of Wind & Solar Power
by God Father Wed Jul 17, 2024 10:11 pm

» Banking Sector Analysis
by God Father Sat Jul 13, 2024 7:57 am

» Impact of Elections on Colombo Stock Market Sentiment
by Quibit Tue Jul 09, 2024 9:01 am

» LankaBIZ Unveils AI-Driven On-Demand Financial Research and Analysis Service
by Quibit Thu Jul 04, 2024 12:49 pm

» CDB Non voting
by Nandun Sun Jun 30, 2024 9:45 pm

» The Parsi Power Play: How a Small Community of Iranian Parsis are Controling Sri Lanka's US $ 85 billion Economy & 22 Million Population & Politics driving away FDIs
by MalakaDesmond Sun Jun 30, 2024 10:19 am

» Richard Pieris Group: Mismanaged?
by Walbaba Sat Jun 29, 2024 7:04 pm

» සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී: අඳුරු අපේක්ෂාවන් සහිත ඉහළ අවදානම් ආයෝජනයක්
by D.G.Dayaratne Tue Jun 25, 2024 5:45 am

» සොෆ්ට්ලොජික් ප්‍රාග්ධනයට වන්දි ගෙවන Share BuyBack නිසා Softlogic ජීවිත රක්‍ෂණය බංකොලොත් වීමේ අවදානමක
by MalakaDesmond Tue Jun 25, 2024 1:49 am

» Softlogic Life insurance face Danger of Bankruptcy due to Share BuyBack that compensate Softlogic Capital
by MalakaDesmond Tue Jun 25, 2024 1:33 am

» Softlogic Holdings PLC: A High-Risk Investment with Bleak Prospects
by MalakaDesmond Tue Jun 25, 2024 12:52 am

» FINANCE AND LEASING SECTOR
by SL-INVESTOR Sat Jun 22, 2024 12:48 am

» HSENID BUSINESS SOLUTIONS PLC (HBS.N0000)
by ErangaDS Wed Jun 19, 2024 9:21 pm

» How will proposed Tax Reforms affect Sri Lankans in 2025
by Quibit Wed Jun 19, 2024 9:27 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by ChooBoy Tue Jun 18, 2024 11:31 pm

» Impact of IMF reforms to Sri Lanka Economy
by D.G.Dayaratne Mon Jun 17, 2024 6:36 pm

» Richard Pieris Finance Ltd continue to endanger the Depositors with negative performance
by ddindika Mon Jun 17, 2024 3:17 pm

» Richard Pieris Exports reports 97% decline in Net Profits
by Biggy Sat Jun 15, 2024 11:26 am

» Do your own Stock Market Research using AI Tools
by Quibit Fri Jun 14, 2024 10:50 am

» What will happen tomorrow?
by cheetah Thu Jun 13, 2024 12:07 pm

» Focus on Government controlled entities
by ErangaDS Mon Jun 10, 2024 4:15 pm

» Colombo Stock Market: Over Valued against USD!
by God Father Mon Jun 03, 2024 3:17 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000)

Go down  Message [Page 1 of 1]

DeepFreakingValue

DeepFreakingValue
Manager - Equity Analytics
Manager - Equity Analytics

May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Softlo10

SOFTLOGIC DILEMMA

- Retained Losses exceeds LKR 3.2bn with LKR 332mn loss in FY 2022
- Depositors liabilities exceeds LKR 17bn.
- Cash/Near Cash liquid assets of less than LKR 800mn.
- Decline of lease and loans receivables portfolio up to 10%
- Rights issue to raise LKR 850mn from existing shareholders in a depressed stock market conditions.
- Majority shares are held by Softlogic Capital PLC and Softlogic Holdings PLC.


___________

Sri Lanka’s Softlogic to raise Rs850mn from cash call

Softlogic Finance Plc, a publicly trade unit of Sri Lanka’s Softlogic Capital Plc said it was planning to raise 850 million rupees in equity to boost capital by offering 116 million shares at 7.31 rupees a share to existing shareholders.

Shareholders would be given a rights issue of 100 shares for every existing 423 shares.

Ivon Brohier, Acting Chief Executive Officer, Softlogic Finance PLC said the said Softlogic was expanding business and going on a digitalization drive amid the “following two years of the pandemic and the worst financial crisis the country has ever seen.”

The infusion will improve  Tier 1 Capital, while complying with Capital Adequacy Requirements. The new shares will be listed on the ‘Diri Savi’ board of the stock exchange. (Colombo/Oct22/2022)

https://economynext.com/sri-lankas-softlogic-to-raise-rs850mn-from-cash-call-101385/?utm_source=dlvr.it&utm_medium=twitter

Proposed Cash Call

May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Screen44
https://cdn.cse.lk/cmt/announcement_portal_prod/Rights%20Issue%20Dates_35990891083217.pdf

SOFTLOGIC FINANCE PLC (CRL.N0000) is a loss making finance company Regulated by the Central Bank of Sri Lanka.

Softlogic Finance PLC is fully compliant with the Capital adequacy ratio Both Tier 1 & Tier 2 as set out in the Direction No.03 of 2018 of Finance Business Act as of 31 March 2022 However with the implementation of new Direction no 01 of 2020 Classification & Measurement of Credit Facilities w.e.f 01.04.2022, Company Capital adequacy requirement (Both Tier 1 & Tier 2) are below the minimum requirement since April 2022 and as of June 2022 Tier 1 ratio reported as 3.31% & Tier 2 ratio reported as 8.27%.

Annual Losses exceed LKR 332mn in FY 2022
May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Screen45

Serious Loss of Capital whilst Total Losses exceed LKR 3.2bn
May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Scree111

Total Depositor Liabilities Exceed LKR 17Bn with Cash/Near Cash equivalent reserves of less than LKR 800mn
May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Scree108

Declining Loan and Hire Purchase Portfolio
May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Scree112

Weak asset quality, while the slippages in the new portfolio remains low: The Gross NPA ratio stood at 30.19% in Dec-21, vis-a-vis 34.57% in Mar-21 (32.79% in Mar-20). However, about 95% of the total NPAs are attributable to the discontinued portfolio, which largely consists of SME-related exposures. The new portfolio (recognized after March 2020) which is in the form of asset-backed lending, demonstrated healthy asset quality levels, with GNPA of about 2.44% as in Dec-21 (0.12% Mar-21). However, the rating is constrained by the low provisioning coverage on the legacy portfolio, given the exposures are largely in the form of unsecured lending. Solvency of the company remain weak with Net NPA/ Net worth at 90.74% as in Dec-21, while the same has improved from 147.42% in Mar-21 and 218.71% in Mar-20. Going forward, it will be crucial for the company to expedite the collections from the legacy portfolio while maintaining healthy asset quality levels of the incremental new portfolio.

SoftLogic Group's appeal for further cash
This would require SoftLogic Group raise further cash calls from group companies such as Softlogic Capital PLC and Softlogic Holdings PLC.

Its interesting to see successful Softlogic group meet the funding requirement without the support of the minority shareholders as investors current appetite for the Finance sector is historically low due to current economic crisis in the country.

May Day! alert from SOFTLOGIC FINANCE PLC (CRL.N0000) Screen47

https://cdn.cse.lk/cmt/upload_report_file/863_1659608832658.23.pdf

Sri Lanka finance companies raise Rs12.5bn in new capital

Nine finance companies in Sri Lanka have raised 12.6 billion rupees to shore up capital and have also proposed consolidation plans, the central bank said.

Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance PLC, People’s Merchant Finance PLC, Softlogic Finance PLC, Merchant Bank of Sri Lanka & Finance PLC, UB Finance Co Ltd and Richard Pieris Finance Ltd have raised 12.5 billion rupees.

Another 12 companies are in the process of consolidation.

The full statement is reproduced below:

Masterplan for Consolidation of Non-Bank Financial Institutions being fast-tracked

Under the Masterplan for Consolidation of Non-Bank Financial Institutions (the Masterplan) being implemented by the Central Bank of Sri Lanka (CBSL), the following 9 companies have already introduced fresh capital of Rs 12.56 billion to meet regulatory capital requirements: Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance PLC, People’s Merchant Finance PLC, Softlogic Finance PLC, Merchant Bank of Sri Lanka & Finance PLC, UB Finance Co Ltd and Richard Pieris Finance Ltd.

In addition, 12 companies have submitted their acquisition/consolidation plans to CBSL and obtained relevant preliminary approvals as follows:

1. Assetline Leasing Co Ltd – acquisition of finance business licence of Kanrich Finance Ltd and settlement of its deposits.
2. LB Finance PLC – acquisition and subsequent amalgamation of Multi Finance PLC.
3. SMB Leasing PLC – acquisition of finance business licence of Swarnamahal Financial Services PLC and settlement of its deposits.
4. Commercial Leasing & Finance PLC – acquisition and subsequent amalgamation of Sinhaputhra Finance PLC.
5. HNB Finance PLC – acquisition and subsequent amalgamation of Prime Finance PLC.
6. LOLC Finance PLC- amalgamation of Commercial Leasing & Finance PLC.


As a result of the above developments, the Non-Bank Financial Institutions sector has witnessed a significant improvement in compliance with regulatory capital requirements and has recorded the lowest non-compliance levels during recent times.

https://economynext.com/sri-lanka-finance-companies-raise-rs12-5bn-in-new-capital-90054/

Share this post on: reddit

Pathirage, How you Feeling? I know your belly is having one of those times. The young me 10 years ago had the same feeling when my mosque was under attack by bodubala dogs and some balakayas. how times change the sides of the tables

avatar

Post Thu Dec 08, 2022 5:45 pm by God Father

සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී කොටස් CSE හි ගනුදෙනු කිරිම අත්හිටුවයි
December 8, 2022

කොළඹ කොටස් හුවමාරුවෙහි ලැයිස්තුගත සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී සමාගමෙහි (SHL.N0000) කොටස් ගනුදෙනු කිරිම අද (දෙසැම්බර් 08) දිනයේ අත්හිටුවීමට එම හුවමාරුවෙහි බලධාරීන් පියවර ගෙන තිබේ.

එම සමාගම මගින් 2022 මාර්තු 31 වැනිදායින් අවසන් වූ මූල්‍ය වර්ෂය සඳහා වන වාර්ෂික වාර්තාව ලබාදිමට අපොහොසත්වීම මේ සඳහා හේතුව වී තිබේ.

මෙලෙස කොටස් ගනුදෙනු අත්හිටුවීම සම්බන්ධයෙන් කොළඹ කොටස් හුවමාරුව පසුගියදා එම සමාගම ඇතුළු තවත් සමාගම් හතක් වෙත අනතුරු ඇඟවීමේ නිවේදන නිකුත් කර තිබුණි.

මේ අතර අද දිනයේදී සිය කොටස්හිමිකරුවන් වෙත නිවේදනයක් නිකුත් කරන සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී සමාගම සිය වාර්ෂික වාර්තාව ඉදිරිපත් කිරීමට අපොහොසත්වීම නිසා සිදුව ඇති ගනුදෙනු අත්හිටුවීම සම්බන්දයෙන් සිය සමාව ඉල්ලන බව සඳහන් කර තිබේ.

මෙහිදී සිය ආසන්නතම වාර්ෂික වාර්තාව ඉදිරිපත් කිරිමට නොහැකි වීමේ ප්‍රධානතම හේතුව සිය සමූහයට අයත් එක් පරිපාලිත සමාගමක විගණන කටයුතු සම්පූර්ණ කිරිමට පමා වීම බව සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී පවසයි.

ඒ හේතුවෙන් සමාගම් සමූහයේ සමස්ත ගිණුම් පිළිබඳ අවසන් වාර්තාවක් සකස් කිරිමට ප්‍රමාදවිම මෙහිදී සිදුව ඇතැයිද එම සමාගම සිය කොටස්හිමිකරුවන් වෙත දැනුම් දී තිබේ.

ඒ අනුව 2022 මාර්තු 31 වැනිදාට අදාළ වාර්ෂික වාර්තාව හැකි ඉක්මණින්ම ඉදිරිපත් කිරීමට සිය සමාගමේ අධ්‍යක්ෂ මණ්ඩලය බලාපොරොත්තු වන බවත් සඳහන් කර සිටියි.

https://sinhala.enbsl.lk/2022/12/08/සොෆ්ට්ලොජික්-හෝල්ඩිංග්-4/?utm_source=dlvr.it&utm_medium=twitter

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum