- Softlogic Holdings (SHL) - Trading suspended by CSE
- Softlogic Finance (CRL) - Serious capital adequacy issues with CBSL
- Softlogic Capital (SCAP) - Invest LKR 1.2bn in commercial paper of SHL
- Softlogic Life Insurance (AAIC) - Suffering due to inefficent management of funds
- Odel (ODEL) - Losses due to import restrictions
- Health Sector (ASIR) - Slow growth momentum due to post covid normalization
- Leisure and Property Sector - Continue to lose value and money
- Automobile Sector - Non Existent
What is Wrong with SOFTLOGIC HOLDINGS PLC (SHL.N000)
- Softlogic Holdings PLC (SHL) stock market trading suspended by the CSE due to non submission of accounts.
- SHL group losses exceeds LKR 4.4bn during the Quarter ended 30th June 2022.
- Net Change in the Fair Value of derivative financial instruments exceeds LKR 2bn
- Import restrictions continue to affect retail segment of SHL.
- Total SHL Group Liabilities exceeds LKR 200bn with over LKR 42bn interest bearing liabilities.
- Shareholders funds declined more than LKR 5bn within last 12 months from LKR 18bn to LKR 13bn.
- Net Asset Value per share of SHL is less thanLKR 12/= whilst share last traded at LKR 16/=
- Loss of Investor trust and confidence in the company due to non compliance of listing rules
Softlogic Capital (SCAP) invest in its own parent company Softlogic Holdings (SHL)
Loss making Softlogic Capital PLC (SCAP) invest in its own parent company Softlogic Holding PLC (SHL) in a bid to save the falling conglomerate.
- Softlogic Capital PLC (SCAP) invest over LKR 1.2bn in Commercial Paper of Softlogic Holdings PLC (SHL) as per the stock market disclosure.
- SHL group liabilities exceeds LKR 200bn with over LKR 42bn interest bearing liabilities.
- SHL group losses exceeds LKR 4.4bn during the Quarter ended 30th June 2022 with over LKR 2bn losses from derivative investments.
- Share trading of SHL is currently suspended by the Colombo Stock Exchange (CSE) due to non submission of accounts.
- SHL owns more than 77% of the shareholdings of SCAP
- SCAP has Invested in SHL an amount in excess of 5% of its own equity value.
- SCAP reported a loss of LKR 545mn for the 6 months ended 30th Sept 2022 at company level.
- SCAP Earnings Per Share (EPS) for the 6 months ended 30th Sep 2022 is negative LKR 0.58 and Net Asset Value (NAV) is LKR 5.32
May Day! alert from SOFTLOGIC FINANCE PLC
- 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
ODEL PLC - Limited Loss
- ODEL PLC reports a LKR 644mn loss for Quarter ended Sept 2022.
- Negative Earnings (EPS) of LKR 3.46 during 6 months.
- Total retained losses exceeds LKR 2.6bn
- Revaluation Reserve of LKR 4.4bn helps to meets solvency requirement
- Odel is owned and controlled by Softlogic Holdings PLC
- Group Retail Sector suffers due to import restriction and economic downturn