CFLB - The Ten Bagger

Name: The Colombo Fort Land & Building PLC
Sector: Diversified Holding
Nature of Business: Real Estate & Investing holdings

No of shares : 180,000,000

Price : Rs 28.20  (31/12/2013)    
NAV  - Rs 44/=  ( 30 Sep 2013 )

All time High : Rs 580/-  low :  Rs 1.75
Market Price 2012  - Highest  - Rs 45.50  Lowest - Rs 34.50
Market Price 2013 -  Highest - 34.50 Lowest  - 26.00

Public Holding (as of 30 September 2013)  - 41.43%

Top 20 Shareholders holding = 83.05%



Subsidiaries : Holding %
Colonial  Motors  : 64.06 %
EB Creasy & Company PLC : 59.75 %
Muller & Phipps : 30.65 %
York Arcade : 49.83 %
Lankem Ceylon : 60.07 %
Marawila Resort : 31.64 %
Sigiriya Village Hotel : 39.72 %
C.W. Mackie PLC : 33.51 %

Unquoted Investments : Holding %
CF Travels Limited : 100 %
Capital Leasing Co : 55.83 %
Colombo Fort Holdings Ltd : 100 %
Colombo Fort Properties ltd : 99.30 %
Transways (pvt ) ltd : 70 %
Colombo Fort Hotels : 62.37 %
Lankem Plantation Holdings Ltd : 81.02 %
Beruwala Resorts Ltd : 48.69 %


Investment Portfolio (selected)– Company : Number of Shares
CTCE : 285,760
COMB : 906,107
DFCC : 116,937
HNB : 280,091
LOLC : 394,800
NDB : 19,530
NTB : 115,774
PABC : 313,400
SAMP : 67,222
SEYB : 261,133
HDFC : 200,100
RHL : 23,790
HAYL : 101,316
HHL : 459,375
CFLB : 5,339,680
VONE : 104,000
ASIR : 355,660
AMSL : 113,999
AHUN : 100,765
AHOT : 72,200
REEF : 306,195
EDEN : 350,000
JHL : 781,922
LHL : 114,800
GUAR : 149,984
CINV : 590,691
WAPO : 113,000
LVEN : 339,800
CARG : 128,100
CLND : 523,860
TWOD : 602,400
LWL : 100,000
REGNIS : 137,883
SIRA : 826,600
TKYO : 406,604
UML : 23,254
WATA : 437,700
VLL : 396,420
SINGER : 120,310
CFI : 1,406,117 (22 % of the company)
CIT : 1,009,668 ( 16 % of the company)

Prince wrote:Name: The Colombo Fort Land & Building PLC
Sector: Diversified Holding
Nature of Business: Real Estate & Investing holdings
No of shares : 180,000,000

All time High : Rs 580/-  

Sub Division in 2011

Yes , but still Rs 285/- possible .

NAV and EPS right at this moment won't support to go to 285.

Yes, it will happen when the Bull mania peak. (Milion dollar question when?)

They are having 5,041,680 shares (unquoted) of "Ceylon Biscuits" company which most probably will be listed in the CSE this year.
If then can imagine the impact to the NAV of CFLB ?

Prince wrote:They are having 5,041,680 shares (unquoted) of "Ceylon Biscuits" company which most probably will be listed in the CSE this year.  
If then can imagine the impact to the NAV of CFLB ?

Yes you are right to certain extend. If we say the IPO price around 36, then NAV theoritically will move up by Rs. 1.00. Unless before IPO, CB needs to go for a massive split such as 10:1. In the recent past they went for 40:1.

Last six months over billion loss, over Rs 4 per share. 50% rise in 'administration cost'

The company many be holding the crown jewels but the poor minority holder will not even get a glimpse of it.

Good share in a transparent market but not here.

Prince wrote:They are having 5,041,680 shares (unquoted) of "Ceylon Biscuits" company which most probably will be listed in the CSE this year.  
If then can imagine the impact to the NAV of CFLB ?

E B Creasy owns those Ceylon Biscuit shares and % wise it is very small. no big deal.
When CFLB adjusted from 1 : 5 Split in 2011, high price was around Rs 90 split adjusted in a bull market situation with around Rs 6 eps.
so far, six months 2013 / 2014 has not been a good year. in a good year with all divisions like Plantations, Agro chemicals, Paints, Hardware, Marketing & Distribution, Hotels, Motors etc kicking in, they could make even Rs 10 eps. we have to watch and wait for this good year but this group needs to up their game in corporate governance, disclosure and transparency is their business dealings and restructurings.
If you like CFLB, then the best shares in the the group are CIT & CFI. dont be mislead by one shareholder selling just for fun and charitable reasons (believe me !) shares he bought at much higher prices (like CFI 50,000 @ 375) & CIT 5000 even at Rs 600 ! very soon, his CIT inventory will run out by the looks of it.

I feel some of the investors are keeping away from this share due to the reporting issues

The Alchemist wrote:

Prince wrote:They are having 5,041,680 shares (unquoted) of "Ceylon Biscuits" company which most probably will be listed in the CSE this year.  
If then can imagine the impact to the NAV of CFLB ?

E B Creasy owns those Ceylon Biscuit shares and % wise it is very small. no big deal.
When CFLB adjusted from 1 : 5 Split in 2011, high price was around Rs 90 split adjusted in a bull market situation with around Rs 6 eps.
so far, six months 2013 / 2014 has not been a good year. in a good year with all divisions like Plantations, Agro chemicals, Paints, Hardware, Marketing & Distribution, Hotels, Motors etc kicking in, they could make even Rs 10 eps. we have to watch and wait for this good year but this group needs to up their game in corporate governance, disclosure and transparency is their business dealings and restructurings.
If you like CFLB, then the best shares in the the group are CIT & CFI. dont be mislead by one shareholder selling just for fun and charitable reasons (believe me !) shares he bought at much higher prices (like CFI 50,000 @ 375) & CIT 5000 even at Rs 600 ! very soon, his CIT inventory will run out by the looks of it.

Yes,CFI and CIT at discount level now.

Gaja wrote:I feel some of the investors are keeping away from this share due to the reporting issues

@ Gaja, can you explain more on this.? Actually I've been reading their latest annual report. By the looks of it CIT & CFI both are attractive.

Leon wrote:

Gaja wrote:I feel some of the investors are keeping away from this share due to the reporting issues

@ Gaja, can you explain more on this.? Actually I've been reading their latest annual report. By the looks of it CIT & CFI both are attractive.

What i mean is they lag in disclosures or the disclosures come after some time regarding the dealing by the directors, i feel with the new requirements to the accounting standards, they need to give the important line items of the Unlisted companies details as well, so that might give us some information about unlisted investments.

CFLB has potential to reach 50 if they turn the company around and make profits. If ASPI goes up, their NAV will increase because they have huge portfolio

Intelligent Investing wrote:CFLB has potential to reach 50 if they turn the company around and make profits. If ASPI goes up, their NAV will increase because they have huge portfolio

If you consider portfolios, RENU, CABO will have the biggest cash-able portfolios too.. And we thought collecting at bear market would give an advantage in advance.

But they're not gonna sell their portfolios, are they? Unless they need cash for expansions, renovations, they'll continue to operate or even increase the positions.

However, this means, they have cash for disposal which I see a good strategy rather than asking share holders to foot their investment bills or to save the company with right issues.

The companies which owns lands are also in the same category.. Unless they sell it, theirs nothing much though the values increase NAV.

I was watching RENU. DFCC to RENU is almost 1 to 1 in their portfolio. DFCC went from Rs 120 to rs 135. RENU doesn't move. Still at Rs 250. Their dividend policy is lousy dividend also.

Wonder whether managements of these companies care at all about retail share holders.

smallville wrote:

Intelligent Investing wrote:CFLB has potential to reach 50 if they turn the company around and make profits. If ASPI goes up, their NAV will increase because they have huge portfolio

If you consider portfolios, RENU, CABO will have the biggest cash-able portfolios too.. And we thought collecting at bear market would give an advantage in advance.

But they're not gonna sell their portfolios, are they? Unless they need cash for expansions, renovations, they'll continue to operate or even increase the positions.

However, this means, they have cash for disposal which I see a good strategy rather than asking share holders to foot their investment bills or to save the company with right issues.

The companies which owns lands are also in the same category.. Unless they sell it, theirs nothing much though the values increase NAV.

CFLB is interesting to watch.

CFLB Collected heavily previews weeks i think CFLB run will start next week

As per March 2014 reports, EPS is negative.