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Sri Lanka Equity Forum » Stock Market Talk » SUGA union ask govt to buy back

SUGA union ask govt to buy back

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1SUGA union ask govt to buy back Empty SUGA union ask govt to buy back on Tue Mar 22, 2011 9:45 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
SUGA trade union have asked govt to acquire the company. It is going up? What an efficient market?

2SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Tue Mar 22, 2011 9:51 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@salt wrote:SUGA trade union have asked govt to acquire the company. It is going up? What an efficient market?
This is CSE. Mad Mostly it behaves based on speculations.

3SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Tue Mar 22, 2011 11:57 am

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
World sugar prices may be high, but SUGA's recent financial performance has been very bitter.

It reported a net loss of -Rs169 mn in third quarter of FY11 and its book value is Rs21 per share. Crop is seasonal, but output has been poor and yield low.

Subsidiary Pelwatte Dairy's IPO has long been talked of, together with investments in tourism and power, which are again though both long term.

Takeover speculation talk has also emerged in the past (LOLC, BRWN, CIC, CARG and DIST have been mentioned as possible local buyers), and illiquid share can be easily manipulated (promoters hold 85%, and only 100,000 shares are needed to enter Top 20 shareholder list - share was as high as Rs50 just last month).

Again, buyer beware.

4SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Tue Mar 22, 2011 1:15 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Guess they dont want work anymore.. Smile Smile

5SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Tue Mar 22, 2011 10:13 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

6SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Wed Mar 23, 2011 12:04 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

7SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Wed Mar 23, 2011 5:17 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/671300880864_.pdf

Controlling shareholder, Master Divers, has sold 2.66 million SUGA shares.

8SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 12:09 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Another 32 million shares transfers today at Rs27.50

9SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 12:13 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Monster wrote:Another 3.2 million shares transfers today at Rs27.50

Is 3.2 Million or 32 Million Shares

10SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 12:17 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Gaja wrote:
@Monster wrote:Another 3.2 million shares transfers today at Rs27.50

Is 3.2 Million or 32 Million Shares
32 million. There was a mistake. Very Happy

11SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 12:59 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
http://print.dailymirror.lk/business/127-local/38989.html

According to Wikramanayke, there is no take over bid in motion. High international sugar prices forced the share price to go up. “There’s no reason to divest my stake in the company, because of rising international sugar prices,” he added

- Above is comment from Mr.Ariyaseela Wickramanayake in Daily Mirror of 23rd re: SUGA

He then sells a controlling stake in SUGA the next day at heavily discounted price - the man has no shame it seems.

12SUGA union ask govt to buy back Empty Sri Lanka sugar firm control changes on Thu Mar 24, 2011 1:34 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka sugar firm control changes

Mar 24, 2011 (LBO) - Sri Lanka's Master Divers had sold control of Pelwatte Sugar Industries to the Stassens group of businessman Harry Jayewardene, its chairman Ariyaseela Wickramanayake said.
"It needs a tough person to control that place," Wickramanayake said.

Wickramanayake said he still had a third share of the firm, and would continue to work on a dairy project.

Wickremanayake said the Jayewardene's group had 51 percent of Pelwatte. There had been speculation about the sale of the firm to Distilleries Company of Sri Lanka, but Wickramanayake had earlier denied an imminent sale.

On Wednesday 31.96 million shares were traded at 27.50 rupees down 9.20 from a day earlier. On Tuesday Master Divers sold down a 3.2 percent stake on the market, the firm in a stock exchange filing.

In Sri Lanka sugar is a tariff protected tax arbitrage industry.

http://www.lbo.lk/fullstory.php?nid=807271808

13SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 1:44 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

14SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 3:33 pm

StocksWatch

StocksWatch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

15SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 3:39 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

16SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 3:41 pm

StocksWatch

StocksWatch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock wrote:
@StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

He is building his kingdom...pure monopoly.

17SUGA union ask govt to buy back Empty Re: SUGA union ask govt to buy back on Thu Mar 24, 2011 3:57 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@StocksWatch wrote:
@slstock wrote:
@StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

He is building his kingdom...pure monopoly.
Let's see how Mr HJ will convert the loss making company to a profit making company.

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