EMER Sold Land and Buildings at 1040 Million Rupees (1.04 Billion ) and Per Share 9.05 Rupees.

So Shan,

What you are expecting?

Dividend or Split.

You guys are now rich no? Promoting and successfully push your stuffs to newbies?

greedy007 wrote:So Shan,

What you are expecting?

Dividend or Split.

You guys are now rich no? Promoting and successfully push your stuffs to newbies?

I am no Rich no poor. EMER will give the Dividend. This only the information.

OK Shan.

Sorry Gainer. Some of us know Shan= Gainer.

greedy007 wrote:OK Shan.

Sorry Gainer. Some of us know Shan= Gainer.

Yes Shan my brother now he is not trading he is busy with work.

OK tks

Eastern Merchants to raise Rs. 1 billion for diversification by selling 134-perch land

Eastern Merchants Plc is to raise Rs. 1 billion to diversify business by selling a portion of its land and buildings. The company said its Board, at a meeting on Monday, resolved to sell land and buildings owned at 284 Vauxhall Street, Colombo 2 and 341 Union Place, Colombo 2 (with a combined extent of 134 perches) for Rs. 1.04 billion. It said, according to the valuation dated 6 April 2014 by Incorporated Valuer Prof. Gamini Haegoda, the property is worth Rs. 939 million. The Union Place property was the registered office and principal place of business. “It is proposed that the funds raised through the sale are to be invested to diversify the business of the company from its traditional commodity trading into new business ventures focusing on value addition,” Eastern Merchants said. The company also proposes to utilise a part of the sale proceeds to settle outstanding debt which is considerably low. The Eastern Merchants Board has approved the sale in principle. Since the value of the property to be sold is more than one half of the total value of assets of the company, the sale constitutes a major transaction in terms of the Companies Act. Total assets were Rs. 1.28 billion as at 31 December 2014 of which property plant and equipment amounted to Rs. 487.5 million and investments property was Rs. 508 million. Therefore the Board has resolved to summon an Extraordinary General Meeting on 16 March to seek shareholder approval. Directors control nearly 70% stake in the company. At the company level, interest bearing short-term borrowings amounted to Rs. 25.6 million as at December 2014, down from Rs. 171 million a year earlier. At the group level it was Rs. 85 million, down from Rs. 217 million. The company also has Rs. 234 million in Bank Overdraft. Major shareholders of Eastern Merchants Plc include J.B.L. De Silva (27.57%), H.J. De Silva (13.7%), C.I. Tilakaratna (13%), C.S.L. De Silva (12.4%) and N.S. Karunaratne (10.7%). The group specialises in the export of traditional and non-traditional products and the manufacture and export of coir and rubber wood brushes. The company’s third quarter revenue was down by 65% to Rs. 151.5 million and by 58% to Rs. 514 million during the first nine months of FY2015. Its loss was Rs. 13.4 million in 3Q, up from Rs. 11.3 million a year earlier. Its nine months’ loss had increased by 145% to Rs. 57 million. At the group level 3Q revenue was down by 62% to Rs. 173 million and by 55% to Rs. 571.5 million for nine months. However, revenue reserves as at December 2014 amounted to Rs. 627 million at the company level. Losses grew by 58% to Rs. 27.2 million in 3Q and by 50% to Rs. 74 million for nine months. In January, Channa S.L. De Silva was appointed Managing Director of Eastern Merchants Plc and subsidiaries Eamel Exports and Spice Lane Ltd., after Anil Karunaratne retired.
http://www.ft.lk/2015/02/18/eastern-merchants-to-raise-rs-1-b-for-diversification-by-selling-134-perch-land/

better price to enter this wil be interesting coming days

EMER Dividend paying company coz of Directors holding 85% shares more benefit for the Directors.

EMER Record of Dividend payment last few years.

This time highly expecting Dividend Announcement 5.00 Rupees.

DIVIDEND ANNOUNCEMENT  
27 August 2012
Date of Announcement: - 27.Aug.2012
Rate of Dividend: - Rs.0.08 per share / Final Dividend
Financial Year: - 2011/2012
Shareholder Approval: - Required
AGM: - 28.Sep.2012
XD: - 01.Oct.2012
Payment: - 09.Oct.2012
Share Transfer Book Open

DIVIDEND ANNOUNCEMENT  
22 August 2011
Date of Announcement:-22.Aug.2011
Rate of Dividend: - Rs.3.00 per share / Final Dividend
Financial Year: - 2010/2011
Shareholder Approval: - Required
AGM: - 16.Sep.2011
XD: - 19.Sep.2011
Payment: - 27.Sep.2011
Share Transfer Book Open

DIVIDEND ANNOUNCEMENT  
13 September 2010
EASTERN MERCHANTS PLC
Company ID: - EMER
Date of Announcement:-13.Sep.2010
Rate of Dividend: - Rs.3.00 per share - Final Dividend
Financial Year: - 2009/2010
Shareholder Approval: - Required
AGM: - 08.Oct.2010
XD:-11.Oct.2010
Payment: - 19.Oct.2010
Share Transfer Book Open

EMER Sold Land and Buildings and from this money they already settel the Bank overdraft

and clear the debt, balance money possible to give good Dividend.

In the year end report Bank overdraft 00.00

see the report http://www.cse.lk/cmt/upload_report_file/767_1432901640.pdf

EMER Currently Debt Free company and Cash Rich Company, future potentiel.

""The company’s third quarter revenue was down by 65% to Rs. 151.5 million and by 58% to Rs. 514 million during the first nine months of FY2015. Its loss was Rs. 13.4 million in 3Q, up from Rs. 11.3 million a year earlier. Its nine months’ loss had increased by 145% to Rs. 57 million. At the group level 3Q revenue was down by 62% to Rs. 173 million and by 55% to Rs. 571.5 million for nine months. However, revenue reserves as at December 2014 amounted to Rs. 627 million at the company level. Losses grew by 58% to Rs. 27.2 million in 3Q and by 50% to Rs. 74 million for nine months.""


What is the future prospects here??????

Maran wrote:EMER Sold Land and Buildings and from this money they already settel the Bank overdraft

and clear the debt, balance money possible to give good Dividend.

In the year end report Bank overdraft 00.00

see the report http://www.cse.lk/cmt/upload_report_file/767_1432901640.pdf

EMER Currently Debt Free company and Cash Rich Company, future potentiel.

EMER Current Cash Asset per Share more than 9.00 Rupees.Cash is the King maker.

Currently holding one more property still not Revalue if revalue more than 100% Gain.

Gainer wrote:

Maran wrote:EMER Sold Land and Buildings and from this money they already settel the Bank overdraft

and clear the debt, balance money possible to give good Dividend.

In the year end report Bank overdraft 00.00

see the report http://www.cse.lk/cmt/upload_report_file/767_1432901640.pdf

EMER Currently Debt Free company and Cash Rich Company, future potentiel.

EMER Current Cash Asset per Share more than 9.00 Rupees.Cash is the King maker.

Currently holding one more property still not Revalue if revalue more than 100% Gain.

I believe EMER's business is not real estate or gaining through revaluations...

What they are going to do with the cash? that will be the questions.

If going to pay dividends, then ok. 

It's a patta loss company. Investors should keep that in mind

EMER 80% Current Cash Asset Company , Cash is the King maker.

5/= DIVIDEND, 12/=, I think directors may be in a mental hospital, otherwise they may be playing with bulls! ninth wonder of the world is going to start!

wisdom79 wrote:5/= DIVIDEND, 12/=, I think directors may be in a mental hospital, otherwise they may be playing with bulls! ninth wonder of the world is going to start!

ASI down By 55 points but EMER strong 

EMER strong Cash Rich Company and with this cash they can make huge profits

Gainer wrote:EMER strong Cash Rich Company and with this cash they can make huge profits

just wondering how strong its gonna be in the coming days, is it possible that it will reach 18