Feb 03, 2010 (LBO) - Sri Lanka's Aitken Spence Hotel Holdings made a December quarter net profit of 210 million rupees with total revenues up 20 percent to 1.98 billion rupees from a year ago.
According to accounts filed with the stock exchange, the net profit in the quarter, although nominally down 41 percent from a year ago, was actually higher without counting a capital gain made the previous year.
Analysts said that in the December quarter last year the hotel firm made a capital gain of 219 million rupees on the sale of its 95 percent stake in BIR Hotel Management, the holding company of Adaaran “Club” Bathala in the Maldives.
At a recurring level, Aitken Spence Hotel Holdings’ third quarter net profit this year was up 52 percent, they said.
Earnings per share for the quarter fell 42 percent to 5.38 rupees from a year ago.
In the nine months to December 31, 2009, net profit fell 60 percent to 105 million rupees while total revenue fell nine percent to 4.9 billion rupees from the year before.
A note to the accounts said six months of the period under review relates to the off-season of the tourism industry both in Sri Lanka and overseas.
The firm, a subsidiary of the Aitken Spence group, owns or manages a chain of hotels in Sri Lanka, the Maldive Islands, India and Oman.
According to a segmental analysis of the results, Aitken Spence Hotel Holdings’ Sri Lankan hotels made losses during the period, which however fell to 32 million from 88 million the year before.
The firm’s South Asian sector hotel profits fell to 198 million rupees from 469 million rupees.
Sri Lanka’s tourist industry, which had been in the doldrums for years, is recovering after the 30-year ethnic war ended last May.
Hotels have been reporting high occupancy in the current winter season that is just ending.
source - www.lbo.lk
Wednesday, February 3, 2010
SRI LANKA - SHARE MARKET DOWN DUE TO PROFIT TAKING
Turnover for the day was Rs 1.6 b.n.
There were 63 positive counters as against 91 negative counters.
Foreign participation was at a minimal level today,where foreign purchases were at Rs 226 m.n & foreign sales were at Rs 383 m.n. Net foreign out flow reported for the day was Rs 157 m.n.
Colombo markat has risen 9.2 percent so far this year, the best in Asia, after being one of the world's best-performing markets in 2009, jumping 125.2 percent & has risen 3 percent since the election ended.
TOP FIVE GAINERS FOR THE DAY TOP FIVE LOSERS FOR THE DAY
CROSSINGS FOR THE DAY
Today there were several big parcels of OSEA & RCL changed hands. Further Cargills ,Chevron,Ahungalle, Hnb x also changed hands as crossings.
This is a good signal for all of investors to follow these share counters as we could expect price appreciations
in these counters in future.
CSE RUMORS/CSE RUMORS/CSE RUMORS/CSE RUMORS/CSE RUMORS
COLOMBO STOCK EXCHANGE
RUMORS
See report on Plantations
SRI LANKA STOCK PICKS exclusive: Through this we have decided to convey the CSE Rumors for all of our visitors,which have many times found to be unknown to small investors or when they become aware, prices of particular shares may have had increased substantially. Hence our simple effort is just to give you / convey these rumors where most of top investors are well aware of. However please note that there is a high risk involved in share trading. We do not take responsibility for any lose or damage arising out of stated information in this post. You have to take your own decisions. (Do your own research, Do not follow others , Stick to fundamentals, Buy shares when other are selling & sell when others are buying.)
RUMORS
See report on Plantations
SRI LANKA STOCK PICKS exclusive: Through this we have decided to convey the CSE Rumors for all of our visitors,which have many times found to be unknown to small investors or when they become aware, prices of particular shares may have had increased substantially. Hence our simple effort is just to give you / convey these rumors where most of top investors are well aware of. However please note that there is a high risk involved in share trading. We do not take responsibility for any lose or damage arising out of stated information in this post. You have to take your own decisions. (Do your own research, Do not follow others , Stick to fundamentals, Buy shares when other are selling & sell when others are buying.)
SRI LANKA - MORE GOOD NEWS FOR SRI LANKA RUBBER PLANTATION COMPANIES
By HANIM ADNAN See report on Plantations
PETALING JAYA: Current fundamentals look favorable for natural rubber (NR) prices to stay bullish, said Association of Natural Rubber Producing Countries (ANRPC) secretary-general Prof Djoko Said Damardjati.
He said there was a tight supply situation caused by a progressive decline in global production and a marked rebound in demand.Yesterday, tyre-grade SMR 20 closed two sen higher at RM10.19 per kg while Latex-In-Bulk rose RM1.50 to settle at RM6.96 per kg.
ANRPC members – Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Singapore, Sri Lanka, Thailand and Vietnam – account for almost 94% of the world’s rubber supply.
Djoko told StarBiz yesterday that none of the NR producing countries currently hold any NR buffer stock, contrary to a recent report on a buffer stock of 300,000 tonnes.
“Policies pursued in the major NR exporting countries are oriented towards ensuring the best price for NR with a view to enhance farmers’ income and improving export earnings,” he said.
He added that putting a cap on rubber prices was not on the agenda of major exporting countries.
According to ANRPC’s January 2010 newsletter, NR market continued to be bulllish from December 2009 to January this year.
The current buoyant rubber market was contributed by continued fall in global NR supply and a further drop anticipated in the coming months due to wintering.
There was also surging NR demand, especially from China and Malaysia.
Djoko said: “Malaysia posted a marked increase in NR imports of about 63.7% annualised rate in the second half of 2009.”
Last year, Malaysia imported 718,000 tonnes of NR compared with 523,000 tonnes in 2008.
China’s consumption of NR grew at an annualised 16.7% in the third quarter and 30.2% in the fourth quarter 2009.
In addition, the weakening US dollar against currencies of major NR exporting countries and the sharp rise in crude oil prices helped boost rubber prices.
In 2009, the total supply of NR of ANRPC members fell 5.1% to 8.686 million tonnes from 9.150 million tonnes in 2008.
The NR output in Malaysia dropped drastically by 22.1% as yielding area shrank by 20,000ha in 2009.
ANRPC said Malaysia’s estimated NR output for 2009 was 835,000 tonnes compared with 1.072 million tonnes in 2008.
Top producer Thailand also saw a 6.1% drop in supply last year as the estimated average annual yield came down to 1,576 kg per hectare from 1,698 kg per hectare in 2008.
Indonesia’s production fell 5.7% in 2009 as the average annual yield dropped to 937 kg per hectare from 994 kg per hectare the previous year.
However, for 2010, ANRPC expects NR production of Indonesia to increase to 2.77 million tonnes from an estimated 2.59 million tonnes in 2009.
source - http://biz.thestar.com [Natural rubber prices likely to remain high]
SRI LANKA - GOOD NEWS FOR RUBBER PLANTATION COMPANIES
See report on Plantations source- Bloomberg / Bangkok January 27, 2010,
Global natural rubber supplies are tight and the outlook is bullish on favorable fundamentals, the Association of Natural Rubber Producing Countries said.
“Exporting countries are oriented towards ensuring the best price,” said Djoko Said Damardjati, the association’s secretary general, in a newsletter. "That will improve farm income and export earnings," he said. No producer nation “holds any buffer stock,” he said.
Prices doubled in 2009, the best performance since at least 1976, driven by optimism that demand was increasing as the world recovered from recession and as producers curbed supplies. The association includes Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Singapore, Sri Lanka, Thailand and Vietnam. Total output represents about 94 per cent of global supply.
“The statement is optimistic that prices could move up further,” said Umaporn Thepnuan, marketing official at Future Agri Trade Co. in Bangkok. Futures in Tokyo may climb to 350 yen a kg ($3,891 a tonne) should they close above 303.8 yen, the highest end-session level since September 2008, she said, using price history as a guide.
Thailand, Indonesia and Malaysia, the three biggest growers, view the current price as appropriate and agreed to take steps to counter any negative trends, according to a joint statement after a meeting last week in Kuala Lumpur.
The nations put on hold plans to curb exports as the economic recovery boosted prices and demand, the International Rubber Consortium, which represents growers and exporters, said October 27. Supply was cut after prices fell to 99.8 yen a kg ($1,103 a tonne) in December 2008, the lowest level since August 2002. The price has almost tripled since then to 284.6 yen a kg.
The industry is “passing through a situation of tight supply caused by a progressive decline in production and a marked rebound in demand,” Djoko said in the newsletter.
The association said it raised its prediction for output this year in Indonesia, the second-largest producer, to 2.77 million tonnes from 2.68 million tonnes. India’s production may total 853,000 tonnes, up from the previous estimate of 848,000 tonnes, it said.
Vietnam may produce 770,000 tonnes, up from 680,000 tonnes, and exports will probably be 750,000 tonnes, it said, without giving estimates for other countries.
Global natural rubber supplies are tight and the outlook is bullish on favorable fundamentals, the Association of Natural Rubber Producing Countries said.
“Exporting countries are oriented towards ensuring the best price,” said Djoko Said Damardjati, the association’s secretary general, in a newsletter. "That will improve farm income and export earnings," he said. No producer nation “holds any buffer stock,” he said.
Prices doubled in 2009, the best performance since at least 1976, driven by optimism that demand was increasing as the world recovered from recession and as producers curbed supplies. The association includes Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Singapore, Sri Lanka, Thailand and Vietnam. Total output represents about 94 per cent of global supply.
“The statement is optimistic that prices could move up further,” said Umaporn Thepnuan, marketing official at Future Agri Trade Co. in Bangkok. Futures in Tokyo may climb to 350 yen a kg ($3,891 a tonne) should they close above 303.8 yen, the highest end-session level since September 2008, she said, using price history as a guide.
Thailand, Indonesia and Malaysia, the three biggest growers, view the current price as appropriate and agreed to take steps to counter any negative trends, according to a joint statement after a meeting last week in Kuala Lumpur.
The nations put on hold plans to curb exports as the economic recovery boosted prices and demand, the International Rubber Consortium, which represents growers and exporters, said October 27. Supply was cut after prices fell to 99.8 yen a kg ($1,103 a tonne) in December 2008, the lowest level since August 2002. The price has almost tripled since then to 284.6 yen a kg.
The industry is “passing through a situation of tight supply caused by a progressive decline in production and a marked rebound in demand,” Djoko said in the newsletter.
The association said it raised its prediction for output this year in Indonesia, the second-largest producer, to 2.77 million tonnes from 2.68 million tonnes. India’s production may total 853,000 tonnes, up from the previous estimate of 848,000 tonnes, it said.
Vietnam may produce 770,000 tonnes, up from 680,000 tonnes, and exports will probably be 750,000 tonnes, it said, without giving estimates for other countries.
Tuesday, February 2, 2010
SRI LANKA - COLOMBO SHARE MARKET PASS 3700 MARK FOR THE FIRST TIME
02/12/2009 - Colombo share market crossed 3700 mark for the first time in it's history today. ASI was up by 17.74 points to close at 3709.13 & more liquid Millanka index was up by 6.2 points to close at 4265.21.Turnover for the day was Rs 1.5 b.n.
Foreigners were net sellers for the day as usual. Net foreign out flow for the day was Rs 133 m.n. Foreign purchases were Rs 150 m.n. & foreign sales were Rs 283 m.n.
Retail investors were active today & they continue to bet on plantations due to the improved prices fetched for the Tea, Rubber & Palm oil. We mentioned this on our report " It's plantation time now at colombo stock exchange" on 30th January 2010.
There were 94 positive gainers as against 54 negative contributors.
Investors were upbeat on December quarter earnings released so far & accumilate stocks that have future growth potential before the foreigners/ Foreign funds arrive to the market.
TOP FIVE GAINERS TODAY TOP FIVE LOSERS TODAY
CROSSINGS FOR THE DAY
The Colombo Share Market has risen 9.4 percent so far this year, the best in Asia, after being one of the world's best-performing markets in 2009, jumping 125.2 percent on post-war optimism.
Sampath bank & Kelani cables announced sub divisions for its ordinary shares.
DECEMBER TEA CROP UP. THINGS LOOK GOOD FOR YEAR 2010
By Steve . A . Morrell See report on Plantation
The Sri Lanka Tea Board through their recent announcement said December Tea crop shows distinct improvement month comparison December 2008. We called Tea Board Chairman Lalith Hettiarachchi who said there were attributable phenomena that more or less influenced this salutary situation."Last year if you remember, we were in the thick of the global financial crisis that distinctly affected us as well. Fallout of that disaster had ill effects on the industry here," he said.
Intense dislocation to normal routine emerged. Domino effect to the entire industry, in the ‘Ceylon Tea’ context, became woefully inescapable and consequential fall back became the order of the day. Ill-effects compounded with financial strangulation steadily increasing stultifying any hope for resurgence of the industry - controlled by global influences.
December crop upsurge therefore was good allround, said President / CEO, Asia Siyaka Tea Brokers Ltd, Anil Cooke, who also confirmed money did not circulate last year because of the financial crunch. Fall down crisis of that debacle registered tragedy across the industry here. So much so that, the Tea Factory Owners Association, who usually maintain low profile, they too hit panic buttons at the time, to inveigle the Government to rescue them from that grim predicament. Our editions carried their desultory views on the subject.
Nonetheless, with evenness in global money supplies and normality being progressively restored, the industry here did see resurgence eventually resulting in an appreciably ‘Christmassy’ December. Views expressed by the Chairman Tea Board. Not ad verbatim, but more or less so.
Crop figures indicated by the Tea Board, were that increases were recorded in all elevations with low grown properties leading the table with an increase of about 4.5 million kg. Lowest contributors were high growns; who recorded crop returns of some 700,000 kg.
All indicators are that things were picking up and as Lalith Hettiarachchi said we could expect quite a successful year. Crops are expected to top 300 million this year he said.
Anil Cooke too confirmed the industry was back on track. On -set of Western quality was an additional bonus for predicted good returns.
December comparison was 25.1 million 2009, and crop intakes December 2008, was 19.4 million. ‘So; things seem OK’, quotes we think are appropriate.
Further comparisons are that Orthodox black tea increased from 17.9 million. to 23.8 million 2009. CTC teas were down some 200,000, kilos, but green tea increased to 158.7 thousand kilos.
Best year on record was 2008, at 318.6 million. As already recorded, 2009, a year best forgotten, was 289.7 million kilos.
source - www.island.lk
The Sri Lanka Tea Board through their recent announcement said December Tea crop shows distinct improvement month comparison December 2008. We called Tea Board Chairman Lalith Hettiarachchi who said there were attributable phenomena that more or less influenced this salutary situation."Last year if you remember, we were in the thick of the global financial crisis that distinctly affected us as well. Fallout of that disaster had ill effects on the industry here," he said.
Intense dislocation to normal routine emerged. Domino effect to the entire industry, in the ‘Ceylon Tea’ context, became woefully inescapable and consequential fall back became the order of the day. Ill-effects compounded with financial strangulation steadily increasing stultifying any hope for resurgence of the industry - controlled by global influences.
December crop upsurge therefore was good allround, said President / CEO, Asia Siyaka Tea Brokers Ltd, Anil Cooke, who also confirmed money did not circulate last year because of the financial crunch. Fall down crisis of that debacle registered tragedy across the industry here. So much so that, the Tea Factory Owners Association, who usually maintain low profile, they too hit panic buttons at the time, to inveigle the Government to rescue them from that grim predicament. Our editions carried their desultory views on the subject.
Nonetheless, with evenness in global money supplies and normality being progressively restored, the industry here did see resurgence eventually resulting in an appreciably ‘Christmassy’ December. Views expressed by the Chairman Tea Board. Not ad verbatim, but more or less so.
Crop figures indicated by the Tea Board, were that increases were recorded in all elevations with low grown properties leading the table with an increase of about 4.5 million kg. Lowest contributors were high growns; who recorded crop returns of some 700,000 kg.
All indicators are that things were picking up and as Lalith Hettiarachchi said we could expect quite a successful year. Crops are expected to top 300 million this year he said.
Anil Cooke too confirmed the industry was back on track. On -set of Western quality was an additional bonus for predicted good returns.
December comparison was 25.1 million 2009, and crop intakes December 2008, was 19.4 million. ‘So; things seem OK’, quotes we think are appropriate.
Further comparisons are that Orthodox black tea increased from 17.9 million. to 23.8 million 2009. CTC teas were down some 200,000, kilos, but green tea increased to 158.7 thousand kilos.
Best year on record was 2008, at 318.6 million. As already recorded, 2009, a year best forgotten, was 289.7 million kilos.
source - www.island.lk
Monday, February 1, 2010
SRI LANKA - PLANTATION RALLY HELPED THE MARKET TO POST RECORD GAINS
See Report on Plantations01/02/2010 - Colombo Stock Market was up today with the backing of local investors who chased Plantation stocks as the Tea ,Rubber & Palm oil prices fetched record prices in the world market. This was reported by us on our report "It's plantation time now" & recommend investors to buy plantation stocks well in advance to get the maximum benefits before releasing of the profit figures by the companies.
ASI was up by 54.98 (1.51%) points to touch a new record close at 3691.39 & Millanka was up by 77.22 (1.85%) points to close at 4259.01.
Turnover for the day was Rs 2.9 b.n.
Local investors were active on the market . Foreigners were net sellers & the net foreign out flow was Rs 729 m.n. Foreign purchases were Rs189 m.n. & foreign sales were Rs 910 m.n.
There were 107 positive contributors as against 41 negative contributors.
Tokyo cement voting counter came to market today morning after the sub division of its shares.. As we predicted on our report "Tokyo will commence trading today" it gave trading opportunities to the investors as the share commenced trading at Rs 34.50 & peaked Rs 39.75 on large volumes during the mid day trading & closed at Rs 37.50.
Colombo Stock Exchange has risen 9 percent so far this year after being one of the world's best-performing markets in 2009, jumping 125.2 percent.
TOP FIVE GAINERS TODAY TOP FIVE LOSERS TODAY
CROSSINGS FOR THE DAY
ACCOUNTS FOR THE NINE MONTHS ENDED 31/12/2009 (UNAUDITED)
SRI LANKA - TOKYO CEMENT(VOTING SHARE) COMMENCE TRADING TODAY AFTER THE SUB DIVISION
See report on plantations
Tokyo cement company plc Voting shares will commence trading today after the sub division of its each of the issued & subscribed Ordinary Voting share into Ten (10) Ordinary Voting Shares).
There will be trading opportunities in the Voting counter as well as the Non voting counter today, since we can expect price fluctuations in both category of shares.
Non voting share closed at Rs 22.75 on 29/01/2010 up by Rs 2.00.
Tokyo cement reported a negative profit growth for the six months ended 30/09/2009. The reported profit was Rs 83,146 as against Rs 370,116 in year 2008, a drop of 78% YOY. However the profit drop was only 12% YOY for the last three months ended 30/09/2009. The company reported a profit of Rs 139,029 for the last three months as against a profit of Rs 157,638 for the same period in year 2008.
However we can expect the company to do well in future with the planned development activities in North & East areas after the end fo 30 year old civil war.
Investors who have no holding in the voting counter due to its high price earlier, now have the opportunity to collect the share at a lower price.
On considering Tokyo's future earnings potential we recommend a buy to the voting counter.
.
Tokyo cement company plc Voting shares will commence trading today after the sub division of its each of the issued & subscribed Ordinary Voting share into Ten (10) Ordinary Voting Shares).
There will be trading opportunities in the Voting counter as well as the Non voting counter today, since we can expect price fluctuations in both category of shares.
Non voting share closed at Rs 22.75 on 29/01/2010 up by Rs 2.00.
Tokyo cement reported a negative profit growth for the six months ended 30/09/2009. The reported profit was Rs 83,146 as against Rs 370,116 in year 2008, a drop of 78% YOY. However the profit drop was only 12% YOY for the last three months ended 30/09/2009. The company reported a profit of Rs 139,029 for the last three months as against a profit of Rs 157,638 for the same period in year 2008.
However we can expect the company to do well in future with the planned development activities in North & East areas after the end fo 30 year old civil war.
Investors who have no holding in the voting counter due to its high price earlier, now have the opportunity to collect the share at a lower price.
On considering Tokyo's future earnings potential we recommend a buy to the voting counter.
.
SRI LANKA - MERCHANT BANK PLANS TO ACQUIRE / BUILD HOTELS
See report on plantations
Last year was a challenging year for Sri Lanka in terms of a nation as well as a country. The end of the war marked the peaceful condition in the country and economy has also established during the period. The strength of the Government is what the situation has brought this far, Chairman, Merchant Bank of Sri Lanka (MBSL) Janaka Ratnayaka told the Daily News.
Though foreign countries felt the financial crisis hard the Government faced it resiliently as it was strong on fiscal management. There has been a financial crisis of our own, which is the insecurity of the major financial companies. MBSL with the assistance of Central Bank, acquired four of the financially unstable companies related to finance, insurance and banking. This resulted in the control over the negative impact, he said.
The Merchant Bank manages almost Rs. 50 billion liabilities and entities and there are more than 5,000 employees. Among the four financially affected companies, The Finance Company, which is the oldest and biggest finance company, will be brought back to normal by the next 6 to 12 months.
MBSL Group has performed well in 2009 with an increase of profit and performance. The Group recorded a 50 percent increase in profits which amounted to Rs. 300 million compared to 2008.
The Merchant Credit of Sri Lanka, which is a 25-years-old finance company, owned by Merchant Bank and Bank of Ceylon has performed remarkably well. There was an increase of profit of 48 percent compared to the previous year, Ratnayaka said.
“MBSL Savings Bank has recorded over Rs. 45 million net profit although the company faced a financial crisis less than a year before.
The MBSL insurance company whereas targets a revenue of Rs. 1 billion in this year,” he said.
He said that MBSL opened its eighth branch in Trincomalee on January 18 and expects to set up number of branches in Batticaloa, Ampara, Mullaitivu and Jaffna. It will provide many employment opportunities for youth in those areas. The group will soon be involved in the leisure sector of which plans are under way to build hotels or acquire hotels down south.
The head office building will also be completed with Rs. 500 million investments at Union Place. The MBSL group will involve in portfolio management and stock market activities more vibrantly, he said.
He said that good governance, ethics, proper system and procedures will be put in place to cater the widespread network of stakeholders and depositors of MBSL.
The depositor base of the group has increased to 150,000 at present. MBSL protects the interest of depositors by paying their interest and eventually capital, the Chairman said.
source - www.dailynews.lk
Last year was a challenging year for Sri Lanka in terms of a nation as well as a country. The end of the war marked the peaceful condition in the country and economy has also established during the period. The strength of the Government is what the situation has brought this far, Chairman, Merchant Bank of Sri Lanka (MBSL) Janaka Ratnayaka told the Daily News.
Though foreign countries felt the financial crisis hard the Government faced it resiliently as it was strong on fiscal management. There has been a financial crisis of our own, which is the insecurity of the major financial companies. MBSL with the assistance of Central Bank, acquired four of the financially unstable companies related to finance, insurance and banking. This resulted in the control over the negative impact, he said.
The Merchant Bank manages almost Rs. 50 billion liabilities and entities and there are more than 5,000 employees. Among the four financially affected companies, The Finance Company, which is the oldest and biggest finance company, will be brought back to normal by the next 6 to 12 months.
MBSL Group has performed well in 2009 with an increase of profit and performance. The Group recorded a 50 percent increase in profits which amounted to Rs. 300 million compared to 2008.
The Merchant Credit of Sri Lanka, which is a 25-years-old finance company, owned by Merchant Bank and Bank of Ceylon has performed remarkably well. There was an increase of profit of 48 percent compared to the previous year, Ratnayaka said.
“MBSL Savings Bank has recorded over Rs. 45 million net profit although the company faced a financial crisis less than a year before.
The MBSL insurance company whereas targets a revenue of Rs. 1 billion in this year,” he said.
He said that MBSL opened its eighth branch in Trincomalee on January 18 and expects to set up number of branches in Batticaloa, Ampara, Mullaitivu and Jaffna. It will provide many employment opportunities for youth in those areas. The group will soon be involved in the leisure sector of which plans are under way to build hotels or acquire hotels down south.
The head office building will also be completed with Rs. 500 million investments at Union Place. The MBSL group will involve in portfolio management and stock market activities more vibrantly, he said.
He said that good governance, ethics, proper system and procedures will be put in place to cater the widespread network of stakeholders and depositors of MBSL.
The depositor base of the group has increased to 150,000 at present. MBSL protects the interest of depositors by paying their interest and eventually capital, the Chairman said.
source - www.dailynews.lk
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