BINV HAS 50% in Free Lanka Capital (Pvt) Ltd & Free Lanka Capital (Pvt) Ltd has 54% stake in FLCH... Further BINV directly has 3.2% in FLCH... Accordingly FLCH IS a subsidiary of FLCH...But their Equity shareholders interest is only 39% & MI is 61%...
*As I observed BINV's major income source is from FLCH
Being the parent company of FLCH , there should be such high MI in BINV FRs...
But as per the Interim report in prospectuses (page 110 - 9month FR) MI takes only Small amount like 12%...
I can't understand how it can happen in practically...As a result of this BINV's Annualised EPS is around Rs1.00 & valued at least Rs10...
Pls correct me if I am wrong.........