However we reported that BALA is not in a position to release good results for the last quarter (Dec 09) like all other Plantation companies (Results released up to 24/02/2010) due to the non provisioning for wage hike in Sep 2009 quarter on 20/02/2010. [See report]
BALANGODA PLANTATIONS
Net assets per share stands at Rs 52.15 as at 31/12/2009. Issued share capital of the company is 23.6 m.n. shares.
TOP FIVE SHARE HOLDERS OF THE COMPANY AS AT 31/12/2009
Distilleries Company of Sri Lanka Ltd 10,200,000 43.15
Milford Exports (Ceylon) Limited 3,636,363 15.3
Pershing LLC S/A Averbach Grauson & Co. 1,000,000 4.23
Bank of Ceylon - No. 2 A/C. 849,300 3.59
Eagle Insurance Company Ltd. A/c. No.3 432,000 1.82
Company share reported Rs 39.75 as the highest price traded for the year 2010 & the last traded price was Rs 37.75.
MADULSIMA PLANTATIONS
MADU is 35.17% & 31.03% owned by Stassen exports & Distilleries company respectively. Madu is the worst performer in the plantation rally so far for financial year 2009.
Net assets per share reflect a negative Rs 1.48 for the year ended 31/12/2009.
TOP FIVE SHARE HOLDERS OF THE COMPANY AS AT 31/12/2009
Stassen Exports Limited 10,200,000 35.17
Distilleries Company of Sri Lanka 9,000,000 31.03
Secretary to the Treasury 3,805,652 13.12
HSBC International Nominees Ltd-SSBT-DEU 149,000 0.51
Mr. Salem Ali Othman Ali Abo Qamaz 134,500 0.46
Last traded price of MADU share was Rs 17.75. & the highest traded price for year 2010 is Rs 19.
We expect BALA & MADU will release improved results for the first quarter 2010.
1 comment:
Friends,
We believe that AGAL will report good results for Dec quarter 2009.
If this works out there are strong possibilities that the share price of AGAL may increase short to medium term.
This has happened to the share prices for other plantation companies as well. (Wata, Kota, KAGL, ETC...)
Thanks
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