BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

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A strategic investor to buy Blue Diamonds at Rs.7 per share?

In the light of strong gold prices and Jewellery prices in the world, Sri Lanka’s only Diamond exporter The Blue Diamonds Jewellery Worldwide PLC's (BLUE) controlling stake is going to be acquired by an investor at Rs.7 per share.It was earlier reported that Blue Diamonds is eyed by an Indian Investor according to market sources.

The Lanka Business News reliably learns from market sources that the recent interest for Blue Diamonds shares (BLUE) by investors in Colombo Stock Exchange was rallied in the midst of the new investor eyeing to buy a majority stake in the company. Company’s major shareholder to date is Ceylinco Insurance PLC having 4.6% stake whilst the other related Ceylinco entities have another 3.8% as at 31 December 2010.

After facing challenging years of operation from 2008 to 2009, in the latter part of 2010 The Blue Diamonds Jewellery Worldwide PLC raised Rs.300 million in a rights issue at a time company’s traditional buyers had cancelled orders and some others had reduced order quantities.

It was informed to Blue Diamonds shareholders in last annual report that even the largest buyer of Blue Diamonds Jewellery who covers most of the Middle East region experienced major difficulties in their business with the United Arab Emirates stock exchange authorities having to re-shuffle the entire board of directors of Damas LLC, Dubai and appoint new member for the board. Damas LLC has to settle still a sum of Rs.14 million to Blue Diamonds as at 31 March 2010 whilst A.G.I. (Singapore) Ltd.has to settle Rs.21.8 million for sales as at same date.

However the lately published quarterly results of Blue Diamonds Jewellery Worldwide PLC outline that company has reported a positive net profit of Rs.1.74 million in quarter ended 31 December 2010 compared to a loss of Rs.8.5 million in the same quarter of 2009. Consequently company’s Earnings Per Share (EPS) had also reached positive 1 cents from a loss of 10 cents reported in 2009 as result of increased turnover from Rs.9.5 million in 2009 to Rs.15.6 million as at end of December 2010. Company net asset value per share had also shot up from Rs.1.47 to Rs.2.14.

Link: http://lankabusinessnews.com/11.06.June/027.BD.html

BLUE reported a loss again in 4Q11, of -Rs 3.8 m (but lower than -Rs 7.6 m loss a year ago). FY11 results still negative at -Rs 12.1 m (vs -Rs 20.1 m in FY10). Other income contributed Rs 3.1 m & Rs 9.3 m to quarter and year results.

BLUE FY10 accounts were heavily qualified, and auditors KPMG did not offer an opinion. There is lots of litigation too pending - read annual report.

CINS have been selling down their stake in BLUE during the past year.

No controlling shareholder fact may attract some to BLUE, but this is not a shell company (like GREG was at point of takeover by Lionhart) as labour force and operation exists.

Investors be aware of facts and be careful.

cse.alpha wrote:BLUE reported a loss again in 4Q11, of -Rs 3.8 m (but lower than -Rs 7.6 m loss a year ago). FY11 results still negative at -Rs 12.1 m (vs -Rs 20.1 m in FY10). Other income contributed Rs 3.1 m & Rs 9.3 m to quarter and year results.

BLUE FY10 accounts were heavily qualified, and auditors KPMG did not offer an opinion. There is lots of litigation too pending - read annual report.

CINS have been selling down their stake in BLUE during the past year.

No controlling shareholder fact may attract some to BLUE, but this is not a shell company (like GREG was at point of takeover by Lionhart) as labour force and operation exists.

Investors be aware of facts and be careful.

Good opinion: worth +rep

Dear Friends,
Don't burn your finger. This can be even touch 8/- but all these manupulation by Brokers. Be careful. Try to see fundamental and invest for mid to long term. Short cuts cut your long cut.

Suddenly what happened to so called Strategic Deal!

http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Hiru wrote:Suddenly what happened to so called Strategic Deal!

E-Channeling Gaththa Blue...

according to the announcement transaction took place yesterday and below 15%, will they bought the balance today?

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Is it strategic investment? One is IT related, other one is in the business of gold,gem What kind of synergy expect from acquisition.

seyon wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Is it strategic investment? One is IT related, other one is in the business of gold,gem What kind of synergy expect from acquisition.

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...but there are three key players in the Sri lanka Insurance they are Gamini Senarath, Mohan and Piyadasa...three batch mates at Kelaniya...Good Businessmen..They are the leading Directors of Government Enterprises now...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

Business Basil wrote:

seyon wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Is it strategic investment? One is IT related, other one is in the business of gold,gem What kind of synergy expect from acquisition.

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...but there are three key players in the Sri lanka Insurance they are Gamini Senarath, Mohan and Piyadasa...three batch mates at Kelaniya...Good Businessmen..They are the leading Directors of Government Enterprises now...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

your way of talking seems identical to someone, experienced person in our forum.. .

Business Basil wrote:

seyon wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Is it strategic investment? One is IT related, other one is in the business of gold,gem What kind of synergy expect from acquisition.

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...but there are three key players in the Sri lanka Insurance they are Gamini Senarath, Mohan and Piyadasa...three batch mates at Kelaniya...Good Businessmen..They are the leading Directors of Government Enterprises now...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

oh my god ...don't they have a board room to discuss matters of this kind...? are they street hawkers...to do the board meeting at a corridor...?

Business Basil wrote:

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

As at 31st March 2011, SL Insurance had 23.5% of ECL in 2 accounts

British American Technologies (Pvt) Ltd held 22.4% of ECL as at 31st March 2011. They bought 10% first a year ago, in May 2010, through Taprobane Securities. MD is Ruwan Silva, who is also on board of ECL.

Ruwan Silva has a LinkedIn profile at http://lk.linkedin.com/in/ruwansilva

Interesting that back in June 2010, British American Technologies was 2nd largest shareholder in BLUE - see interim at http://www.cse.lk/cmt/upload_report_file/663_1281701435199.pdf

cse.alpha wrote:

Business Basil wrote:

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

As at 31st March 2011, SL Insurance had 23.5% of ECL in 2 accounts

British American Technologies (Pvt) Ltd held 22.4% of ECL as at 31st March 2011. They bought 10% first a year ago, in May 2010, through Taprobane Securities. MD is Ruwan Silva, who is also on board of ECL.

Ruwan Silva has a LinkedIn profile at http://lk.linkedin.com/in/ruwansilva

Interesting that back in June 2010, British American Technologies was 2nd largest shareholder in BLUE - see interim at http://www.cse.lk/cmt/upload_report_file/663_1281701435199.pdf

Hope this British American Technologies not to be another Lionheart...!

CSE Today wrote:

Business Basil wrote:

seyon wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/3951307603857_.pdf

Is it strategic investment? One is IT related, other one is in the business of gold,gem What kind of synergy expect from acquisition.

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...but there are three key players in the Sri lanka Insurance they are Gamini Senarath, Mohan and Piyadasa...three batch mates at Kelaniya...Good Businessmen..They are the leading Directors of Government Enterprises now...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

oh my god ...don't they have a board room to discuss matters of this kind...? are they street hawkers...to do the board meeting at a corridor...?

Kawda kiwwe Corridor eke kathat kara kiyala! ;-) 4 th Floor Kiyalane kiwwe...

cse.alpha wrote:

Business Basil wrote:

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

As at 31st March 2011, SL Insurance had 23.5% of ECL in 2 accounts

British American Technologies (Pvt) Ltd held 22.4% of ECL as at 31st March 2011. They bought 10% first a year ago, in May 2010, through Taprobane Securities. MD is Ruwan Silva, who is also on board of ECL.

Ruwan Silva has a LinkedIn profile at http://lk.linkedin.com/in/ruwansilva

Interesting that back in June 2010, British American Technologies was 2nd largest shareholder in BLUE - see interim at http://www.cse.lk/cmt/upload_report_file/663_1281701435199.pdf

See though British American Technologies own 22.4%; BOC also has 0.7% with Sri Lanka Insurance having 23.5% through General and Life Fund...As I remember before the SPLIT of ECL; the third largest shareholder Ajitha De Zoysa bought 11.46% in ECL whilst Dr.Senthilverl largest shareholder of ECL sold earlier...That was the period when Ajitha De Zoysa was undergone a By-Pass operation and resting...

And some people say that Ruwan Silva is stuck with money too....

Business Basil wrote:

cse.alpha wrote:

Business Basil wrote:

Who owns E-Channelling it is Sri Lanka Insurance...who is Sri Lanka Insurance it is government...

They have strategic investment plans ...that is what i hear...I heard a discussion when I was in the 4th floor of Sri Lanka Insurance Building...last noon...;-)

As at 31st March 2011, SL Insurance had 23.5% of ECL in 2 accounts

British American Technologies (Pvt) Ltd held 22.4% of ECL as at 31st March 2011. They bought 10% first a year ago, in May 2010, through Taprobane Securities. MD is Ruwan Silva, who is also on board of ECL.

Ruwan Silva has a LinkedIn profile at http://lk.linkedin.com/in/ruwansilva

Interesting that back in June 2010, British American Technologies was 2nd largest shareholder in BLUE - see interim at http://www.cse.lk/cmt/upload_report_file/663_1281701435199.pdf

See though British American Technologies own 22.4%; BOC also has 0.7% with Sri Lanka Insurance having 23.5% through General and Life Fund...As I remember before the SPLIT of ECL; the third largest shareholder Ajitha De Zoysa bought 11.46% in ECL whilst Dr.Senthilverl largest shareholder of ECL sold earlier...That was the period when Ajitha De Zoysa was undergone a By-Pass operation and resting...

And some people say that Ruwan Silva is stuck with money too....

another one got info

it seems my study of BLUE.N specially is right.
someone kept the level at 3.5 for sometime and gathered a lot.
all this happened after that foreign guy bought a big stake of it around 3.5 i think.
i am already in the green cause i collected around 2.80
now it s at 3.7 range.
i believe this same person would push this far ahead like TFC but would be a hard battle cause more would be waiting to unload,
to recover losses, but if it passes 6 levels,them it might turn into a crazy bull run.

yeap its blue day today as we predicted yesterday..

Blue run finished.     . professional huuuu

rdk2874 wrote:Blue run finished.     . professional huuuu

No it's because of index color,buying opprtnity.

nimantha80 wrote:

rdk2874 wrote:Blue run finished.     . professional huuuu

No it's because of index color,buying opprtnity.

strongly agree with u.

for sure this will hit near 5 today evening

i think BLUE is consolidating.
around 12.45 to 1.45 it should pick up.
if it picks up it will continue its run on monday.
else we would see longs days of it hovering around 3.70 again like at 3.50
today evening very important to see.

anjelo wrote:i think BLUE is consolidating.
around 12.45 to 1.45 it should pick up.
if it picks up it will continue its run on monday.
else we would see longs days of it hovering around 3.70 again like at 3.50
today evening very important to see.

will see ,

my strong suggestion is to buy this levels. definitely i will pick up.

(from confident source )

smayadunne wrote:

anjelo wrote:i think BLUE is consolidating.
around 12.45 to 1.45 it should pick up.
if it picks up it will continue its run on monday.
else we would see longs days of it hovering around 3.70 again like at 3.50
today evening very important to see.

will see ,

my strong suggestion is to  buy this levels. definitely i will pick up.

(from confident source )

what is your target price sir?

rdk2874 wrote:

smayadunne wrote:

anjelo wrote:i think BLUE is consolidating.
around 12.45 to 1.45 it should pick up.
if it picks up it will continue its run on monday.
else we would see longs days of it hovering around 3.70 again like at 3.50
today evening very important to see.

will see ,

my strong suggestion is to  buy this levels. definitely i will pick up.

(from confident source )

what is your target price sir?

i cant expect it will reach LKR 6 today, but for sure this is moving near 5.

smayadunne wrote:

rdk2874 wrote:

smayadunne wrote:

anjelo wrote:i think BLUE is consolidating.
around 12.45 to 1.45 it should pick up.
if it picks up it will continue its run on monday.
else we would see longs days of it hovering around 3.70 again like at 3.50
today evening very important to see.

will see ,

my strong suggestion is to  buy this levels. definitely i will pick up.

(from confident source )

what is your target price sir?

i cant expect it will reach LKR 6 today, but for sure this is moving near 5.

OK

Are Moderators sleeping?
These guys are dragging the forum to another level.

Redbulls wrote:Are Moderators sleeping?
These guys are dragging the forum to another level.

what is wrong with my posts. are you ok?