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

» Latest Financial Status and Future Outlook of SMB Finance PLC
by ChatGPT Yesterday at 11:15 pm

» Latest Financial Status and Future Outlook of Overseas Realty PLC
by ChatGPT Yesterday at 11:00 pm

» Latest Financial Status and Future Outlook of Merchant Bank of Sri Lanka & Finance PLC
by ChatGPT Yesterday at 10:55 pm

» McDonald’s අපේ නෙමෙයි අපේ බෝස්ගේ – අබාන්ස් කියයි
by ChooBoy Yesterday at 10:19 am

» AI Assistance for Stock Market Research and Analysis
by ChatGPT Yesterday at 7:12 am

» Comparative Analysis of the Insurance Sector
by God Father Tue Mar 26, 2024 11:46 pm

» Sri Lanka: Why Pay Exorbitant Taxes?
by ChatGPT Tue Mar 26, 2024 10:52 pm

» LANKA CREDIT AND BUSINESS FINANCE PLC (LCBF.N0000)
by K.R Tue Mar 26, 2024 3:15 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by D.G.Dayaratne Tue Mar 26, 2024 9:11 am

» SIYAPATHA FINANACE PLC (SLFL.N0000)
by ChatGPT Tue Mar 26, 2024 7:58 am

» FINANCE AND LEASING SECTOR
by ChatGPT Mon Mar 25, 2024 6:45 am

» LOLC FINANCE PLC (LOFC.N0000)
by ChatGPT Mon Mar 25, 2024 6:36 am

» CIC HOLDINGS PLC (CIC.N0000)
by ChatGPT Mon Mar 25, 2024 6:18 am

» UNION ASSURANCE PLC (UAL.N0000)
by ChatGPT Mon Mar 25, 2024 6:15 am

» First Capital Holdings PLC: Current Financial performance and future outlook
by God Father Sun Mar 24, 2024 10:58 pm

» LankaBizz: Sri Lanka's First ever Artificially Intelligent (AI) Business and Research Assistant
by God Father Sun Mar 24, 2024 7:27 am

» HOTEL AND TRAVEL SECTOR
by ErangaDS Wed Mar 20, 2024 7:22 am

» CIC Holdings Good Times Ahead
by ashan silva Mon Mar 18, 2024 11:00 am

» EPF Fund keep eye on low P/E Shares
by K.R Mon Mar 18, 2024 8:45 am

» SINS - the Tailwind effects of a crisis hit Economy
by Hawk Eye Mon Mar 18, 2024 8:37 am

» Ceylon cold stores
by Hawk Eye Mon Mar 18, 2024 8:25 am

» Asha securities Provide buy signal for CIC
by ddrperera Fri Mar 15, 2024 1:10 am

» CSE ready for another Downtrend?
by D.G.Dayaratne Thu Mar 14, 2024 11:24 am

» LankaLAW Forum : Sri Lanka’s #1 Discussion Platform for Legal Questions and Answers
by blindhog Thu Mar 14, 2024 9:14 am

» Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite
by samaritan Wed Mar 13, 2024 1:31 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

Disclaimer
FINANCIAL CHRONICLE™ Disclaimer

The information contained in this FINANCIAL CHRONICLE™ have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever. Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, FINANCIAL CHRONICLE™ blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

Further the writers and users shall not induce or attempt to induce another person to trade in securities using this platform (a) by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular. Any action writers and users take in respect of (a),(b),(c) and (d) above shall be their own responsibility, FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental violation of securities laws of any country, damages or loss arising out of the use of this information.


AI Live Chat

You are not connected. Please login or register

EPF buys 5% of Richard Pieris

4 posters

Go down  Message [Page 1 of 1]

1EPF buys 5% of Richard Pieris  Empty EPF buys 5% of Richard Pieris Sat Feb 12, 2011 12:48 am

mission


Manager - Equity Analytics
Manager - Equity Analytics

Saturday, 12 February 2011 00:00

State owned pension fund, Employee Provident Fund (EPF), which started investing in the country's stock market aggressively following the end of the war, has acquired 4.8 percent of plantation rich Richard Pieris Group (RICH), according to the interim reports filed to the Stock Exchange for the nine months ended December 31, 2010

During the nine months under consideration EPF has purchased 93 million shares that represent 4.8 of the issued and paid up capital of the company. Before this purchase EPF didn't own shares in RICH.

Boosted by improved plantation and retail performances, RICH's nett profit rose 60 percent to Rs.641 million for the December quarter compared with the same period of the previous year. The Earnings per Share for the period was Rs.0.3.

When considered Quarter on Quarter, RICH's net profit was up by 48 percent to Rs.434 million.

Cumulative nett profit for the nine months ended December 31 also rose to Rs.1.35 billion from the same period last year, recording an Earnings Per Share of Rs.0.7.

Plantations has earned the company Rs.6.5 billion during the nine months against the Rs.5 billion during the same period last year while retail operations reported a gross turnover of Rs.8 billion, up from Rs.1 billion.

RICH recently launched its stockbroking subsidiary and announced its plans to re-enter the financial sector services again.

The company is also looking to venture into the leisure sector building up several hotels, including one city hotel. RICH is currently in a process of upgrading several bungalows in their plantations to transform them into boutique hotels.

http://print.dailymirror.lk/business/127-local/35472.html

2EPF buys 5% of Richard Pieris  Empty Re: EPF buys 5% of Richard Pieris Sat Feb 12, 2011 8:06 am

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

I hope no one buys RICH based on this story. This is old hat. They bought these shares last year. That probably explains the dramatic price rise that was witnessed at the time. Rich was stuck at 10 for a month or so and then suddenly jumped to 14 with in a week before settling back to 12.50

There is no indication that EPF wants to up their stake any further. So there was absolutely no need for the newspapers to have published this story. It isn't news. The first three letters of the word news is NEW



Last edited by tubal on Sat Feb 12, 2011 1:11 pm; edited 1 time in total (Reason for editing : fixed typing error (had instead of hat))

3EPF buys 5% of Richard Pieris  Empty Rich Sat Feb 12, 2011 12:01 pm

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Old news but, Boutique Hotels in Rubber Plantations....I think that's a splendid idea.

4EPF buys 5% of Richard Pieris  Empty Re: EPF buys 5% of Richard Pieris Sat Feb 12, 2011 12:44 pm

Rocky

Rocky
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Poor EPF contributors. They are getting played out NEWS (North East West and South)

Why did't EPF Board sell the RICH shares @ 15.4+?
I suggest that EPF recruits some good Financial Analysts to do their investments.
They always sell before the prices go up to already wealthy investors to the likes of Dick, Tom, Harry and Dharmadasa and the profits of employees are gifted to the real people involved in building the economy - MEGA Investors.

I have hell of a lot of money in EPF / ETF and if they release those monies to me now, I will get 50% p.a. vs the meager 13.75% returns paid annualy.

If any of the shares drop in price they can easily make representations to the proper people at the top and ensure that some tax concessions are granted for that paticular company /s. Say like reducing the tax on vehicles etc. (Other investors can add more examples if they like.....)

Evil or Very Mad Crying or Very sad

Sponsored content



Back to top  Message [Page 1 of 1]

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