SHL Qt Financial Statement Effects...

http://www.cse.lk/cmt/upload_report_file/1075_1320991965150.pdf

EPS:- AUDITED YEAR TO 31.03.2011 RS.1.30

UNAUDITED 6 MONTHS TO 30.09.2010 RS.0.42

UNAUDITED 6 MONTHS TO 30.09.2011 RS.0.70

ANNULAIZED (0.70*2) 1.40

UNAUDITED 3 MONTHS TO 30.09.2011 RS.0.29

UNAUDITED 3 MONTHS TO 30.09.2010 RS.0.26

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SHL downward trend is not due to results, but due to rumor on softlogic capital.

15/- is good to buy

Nigel.Machado wrote:SHL downward trend is not due to results, but due to rumor on softlogic capital.

Softlogic Finance Company facing financial crisis

Softlogic Finance Company is facing a threat of a financial meltdown, a senior official from the Central Bank of Sri Lanka said.

The crisis is due to the financial mismanagement on the part of the company’s Managing Director Ifthikar Ahamed. He had served at the NDB Bank and was removed from the institution due to a financial fraud.
Although the Central Bank should have carried out an inquiry into the appointment of a person with such a notorious background into the board of a financial institution, such an inquiry has not yet been conducted.
A proper investigation is not being carried out into the company due to the close friendship between the head of Softlogic Ashoka Pathirage and Central Bank Governor Nivard Cabraal.

Ashoka Pathirage is also closely affiliated to several senior members of the government and makes monthly payments to several government and opposition politicians on a request made by a senior government official.

The senior official from the Central Bank who gave us the information said there was a threat of about 10 financial institutions facing financial meltdowns like the Ceylinco Group due to financial irregularities.

http://www.lankanewsweb.com/english/index.php?option=com_content&view=article&id=132:softlogic-finance-company-facing-financial-crisis&catid=45:business&Itemid=27

Nigel.Machado wrote:SHL downward trend is not due to results, but due to rumor on softlogic capital.

Wts that rumor ?

deep wrote:

Nigel.Machado wrote:SHL downward trend is not due to results, but due to rumor on softlogic capital.

Wts that rumor ?

Softlogic Finance Company facing financial crisis

Softlogic Finance Company is facing a threat of a financial meltdown, a senior official from the Central Bank of Sri Lanka said.

The crisis is due to the financial mismanagement on the part of the company’s Managing Director Ifthikar Ahamed. He had served at the NDB Bank and was removed from the institution due to a financial fraud.
Although the Central Bank should have carried out an inquiry into the appointment of a person with such a notorious background into the board of a financial institution, such an inquiry has not yet been conducted.
A proper investigation is not being carried out into the company due to the close friendship between the head of Softlogic Ashoka Pathirage and Central Bank Governor Nivard Cabraal.

Ashoka Pathirage is also closely affiliated to several senior members of the government and makes monthly payments to several government and opposition politicians on a request made by a senior government official.

The senior official from the Central Bank who gave us the information said there was a threat of about 10 financial institutions facing financial meltdowns like the Ceylinco Group due to financial irregularities.

http://www.lankanewsweb.com/english/index.php?option=com_content&view=article&id=132:softlogic-finance-company-facing-financial-crisis&catid=45:business&Itemid=27

thanx greedy007

This is a really an over valued IPO. IPO price should have been 15.

Nigel.Machado wrote:

deep wrote:

Nigel.Machado wrote:SHL downward trend is not due to results, but due to rumor on softlogic capital.

Wts that rumor ?

Softlogic Finance Company facing financial crisis

Softlogic Finance Company is facing a threat of a financial meltdown, a senior official from the Central Bank of Sri Lanka said.

The crisis is due to the financial mismanagement on the part of the company’s Managing Director Ifthikar Ahamed. He had served at the NDB Bank and was removed from the institution due to a financial fraud.
Although the Central Bank should have carried out an inquiry into the appointment of a person with such a notorious background into the board of a financial institution, such an inquiry has not yet been conducted.
A proper investigation is not being carried out into the company due to the close friendship between the head of Softlogic Ashoka Pathirage and Central Bank Governor Nivard Cabraal.

Ashoka Pathirage is also closely affiliated to several senior members of the government and makes monthly payments to several government and opposition politicians on a request made by a senior government official.

The senior official from the Central Bank who gave us the information said there was a threat of about 10 financial institutions facing financial meltdowns like the Ceylinco Group due to financial irregularities.

http://www.lankanewsweb.com/english/index.php?option=com_content&view=article&id=132:softlogic-finance-company-facing-financial-crisis&catid=45:business&Itemid=27

thanx greedy007

That sounds like utter bullshit

Here read this

RAM Ratings Lanka has assigned respective long- and short-term financial institution ratings of BBB- and P3 to Softlogic Finance PLC (“SLF” or “the Company”); the outlook on the long-term rating is stable. The ratings are premised upon the improvement in its market position while maintaining its asset quality at a level that commensurate with the BBB-rating category. Moreover, the ratings are also upheld by the adequate asset quality, performance, capitalisation and liquidity while being tempered by moderate funding and aggressive loan growth.

http://www.lbo.lk/fullstory.php?nid=2004736443[quote]

[quote="mono"]

Nigel.Machado wrote:

deep wrote:

Nigel.Machado wrote:SHL downward trend is not due to results, but due to rumor on softlogic capital.

Wts that rumor ?

Softlogic Finance Company facing financial crisis

Softlogic Finance Company is facing a threat of a financial meltdown, a senior official from the Central Bank of Sri Lanka said.

The crisis is due to the financial mismanagement on the part of the company’s Managing Director Ifthikar Ahamed. He had served at the NDB Bank and was removed from the institution due to a financial fraud.
Although the Central Bank should have carried out an inquiry into the appointment of a person with such a notorious background into the board of a financial institution, such an inquiry has not yet been conducted.
A proper investigation is not being carried out into the company due to the close friendship between the head of Softlogic Ashoka Pathirage and Central Bank Governor Nivard Cabraal.

Ashoka Pathirage is also closely affiliated to several senior members of the government and makes monthly payments to several government and opposition politicians on a request made by a senior government official.

The senior official from the Central Bank who gave us the information said there was a threat of about 10 financial institutions facing financial meltdowns like the Ceylinco Group due to financial irregularities.

http://www.lankanewsweb.com/english/index.php?option=com_content&view=article&id=132:softlogic-finance-company-facing-financial-crisis&catid=45:business&Itemid=27

thanx greedy007

That sounds like utter bullshit

Here read this

RAM Ratings Lanka has assigned respective long- and short-term financial institution ratings of BBB- and P3 to Softlogic Finance PLC (“SLF” or “the Company”); the outlook on the long-term rating is stable. The ratings are premised upon the improvement in its market position while maintaining its asset quality at a level that commensurate with the BBB-rating category. Moreover, the ratings are also upheld by the adequate asset quality, performance, capitalisation and liquidity while being tempered by moderate funding and aggressive loan growth.

http://www.lbo.lk/fullstory.php?nid=2004736443

Look at the Quarterly report of Softlogic Finance, They reported impressive EPS with improved NAV, How can it be bankrupt? , in that case We can say "The Finance- TFC" is bankrupt like hell.

Like many members here i also didn't apply for this share and expo Lanka & TJL at the IPO, but now i am watching very closely the price moments of these 3 companies.

if the economy moves the way as expected then SHL will benefit, the recovery in the Middle East will take the Expo to next level, impact on the West will have impact on the TJL

These are only my observations don't take the decision without conducting proper study about the companies you invest

IPO was far too much overvalued. Also with prior placement it was bound to be a disaster as many predicted.


But the price now is getting very attractive for being a conglomerate.
6 Month EPS around 0.65 ( non weighted average)
Nav closer to 10

I am keeping my eye on this.

According to the latest financials...looks like Ceylon Guardian and Ceylon Investments have sold down their pre- IPO private placement stakes...do they know something that we don't?

warren buff wrote:According to the latest financials...looks like Ceylon Guardian and Ceylon Investments have sold down their pre- IPO private placement stakes...do they know something that we don't?

Hmm , maybe.
Or could it be they wanted to gain some tidy profit?