SRI LANKA - RENUKA HOLDING (VOTING / NON VOTING)

Rhl  has 96% in Renuka agro exports ltd. RAEL owns 52.23% of Coco lanka & Coco owns 78.6% in Renuka Agri Foods Ltd. 

The ultimate holding company of RAEL,RAFL & Coco is Rhl. Now Rhl has announced a sub division of its shares at a ratio of 5 for 1 .This looks attractive & the market reacts positively for the previous subdivision announcement by LLUB,ASIR,TOKYO N, etc. 

 Rhl profitability shows a significant growth (2466% YOY) as at 30/09/09. NAV stands at 123.50 per share &  EPS is 11.26.

  Price as at 11/12/09       Voting - Rs 124.75.
                                        Nonvoting -Rs 95
                                        ASI  3056.64

CARGILLS TO OPEN 100 MORE OUTLETS

Sri Lanka's premier retail super market chain Cargills Food City announced the launch of 100 new outlets all over the country, with the opening up of its 140th outlet at Rajagiriya yesterday.
Cargills CEO Ranjit Page said: "The launch of our 140th outlet is all the more special because this outlet marks simultaneously the first of 100 more Cargills Food City outlets that will be set up in neighbourhoods across 25 districts in the coming years."
Cargills (Ceylon) is a diversified company with operations in retailing, manufacturing, restaurants and agri-business.
The company said last month that net profits in the September 2009 quarter rose 35 percent to 139 million rupees from a year earlier, and that it was planning a billion rupees in new investments in the current year.


Cargills, which own landmark buildings in Colombo Fort that were Sri Lanka's first department stores, is part of the Ceylon Theatres group which is into property development, financial services, manufacturing and plantations.



The Ceylon Theatres group is controlled by the Page family.





source - www.dailymirror.lk//www.lankabusinessonline.com

SRI LANKA - COCO LANKA - A HIDDEN OPPORTUNITY

Today unfortunately price of coco lanka came down from Rs 56 to Rs 48 due to the announcement of the right issue & non voting share issue.

However we strongly feel that coco still has the upside potential. It is better to have a closer look at the share price fluctuations in future& when opportunity arises to collect shares carefully.

The large volume of trading we saw to day may be due to panic selling,debt clearing where most of people expect a subdivision from the company.

From Monday onwards we can clearly see where its direction is?

COLOMBO SRI LANKA - GOLDEN KEY DEPOSITORS REFUNDS BEGIN

Friday, 11 December 2009

The refund of deposits of the crashed Golden Key Credit Card Company that ran into a high financial scandal by the Ceylinco Group of Companies commenced today,according to the Committee of Accountants handling the refund process.
They said cheques drawn in favour of depositors were being dispatched to the depositors and refunds were being done under a ceiling drawn up to refund deposits in a gradual process.



source - news.lk

SRI LANKA - NEW INSURANCE COMPANY

Distilleries Company of Sri Lanka controlled by business tycoon Harry Jayawardena said it is seeking regulator clearance to launch an insurance company with a startup capital of 500 million rupees after losing control of a former state-owned insurance company, Lanka Business Online (LBO) reported today.

Distilleries Company said in a stock exchange filing that it is willing to increase the investment provision to a billion rupees if necessary. The new insurance company will be a fully-owned unit of Distilleries.
Distilleries Company is a unit of the unlisted Stassens group controlled by tycoon Harry Jayawardena who also has large stakes in the listed Hatton National Bank, Commercial Bank and National Development Bank.

source-www.dailymirror.lk

RENUKA AGRI FOODS - BASIS OF ALLOTTMENT

Renuka Agri Foods to give 10,000 shares minimum to all investors.
Investors who applied over 10000 will get 10000+ 5.99%

As Managers and Registrars to the Renuka Agri Foods Limited (RAFL) Initial Public Offer (IPO) of 120 million shares of LKR2.25, Merchant Bank of Sri Lanka PLC (MBSL) yesterday announced the basis of allotment for the initial offer. We consider the allotment basis announced by the Board of Directors of RAFL is an equitable basis of allotment for all types of shareholders.

source-www.dailymirror.lk

SRI LANKA - COCO LANKA

We recommend a BUY for Coco Lanka on 8th of Dec.At that time it was tarding at Rs 50.25. We saw a minimum 20% price appreciation for the share on back of several positive news such as improved profitability YOY as at 30.09.2009, Listing of Renuka Agri foods , New listing of RHL X (non voting) shares in the market, Sub division of 5 for 1 offered by RHL etc.

To day Coco lanka closed at Rs 56.00 ( 11.4% price appreciation since Our buy recommendation). Further they have annouced following,

:- Five (05) new ordinary voting shares for every seven (07) existing ordinary voting shares held

:-One (01) ordinary non voting share for every seven (07) existing ordinary shares held

:-Issue Price:- Ordinary Voting share-Rs.35/-

:-Ordinary Non Voting share - Rs. 25/-

DIVIDEND ANNOUNCEMENTS

(click on the image for a bigger version)

# commercial bank X (Non voting).This is the second interim dividend  that the company offered withing three months  period.They gave Rs 1.50 as first interim earlier.Another dividend  in excess of Rs 2.00 can be expected on back of improved perfomance of the bank.

Price @120,it gives a dividend yield of 4.1% which equals to savings deposit rate offered by most of sri lankan banks.

SRI LANKA - COCO LANKA

Coco lanka is listed on main board in CSE. It is an investment company for agricultural ventures. It holds 78.6% in Renuka Agri Foods. Once the Renuka Agri Foods shares starts  trading during the later part of the year 2009 or early 2010 the share price of COCO should  move up since they can get a value for their investment in Renuka Agri Foods.

It has a minimum of 20% growth from the current price levels. (Rs 50.25) due to its own business activities in the agricultural sector as well as due to the large stake they owned in RAL.

Know more about Stock Market Instruments

What is a share?

• A share represents your ownership in a company. As a part owner you are investing in the future growth of the company.

 

What are the types of shares?

Ordinary Shares (N) offer

• A right to vote at the company's AGM.
• An entitlement to a share of dividends declared.
• If the company is liquidated, shareholders will be settled after all the creditors, depositors, debt holder dues has been settled.

Non-Voting Ordinary Shares (X)

• These shares have the same characteristics of Ordinary shares except the right to vote at the company's AGM.

Preference Shares (P) offer

• Limited ownership rights.
• A claim on the company's earnings before payment to ordinary shareholders.
• Entitled to priority over ordinary shares if the company liquidates.
• Most preference shares have a pre-determined dividend rate which you are entitled to receive.

Warrants (W)

• This is a certificate giving you the right to buy shares at a stipulated price at a future date.