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LOCL: First Foreign Currency Exchange Services Unit

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MarketResearch

MarketResearch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Member Company of LOLC Group adds yet another value addition to its star class services. Lanka ORIX Finance Company Ltd. opens its first Foreign Currency Exchange Services Unit

IN order to offer customers the best of its value added services, Lanka ORIX Finance Ltd. opened its own foreign currency exchange facility. At a ceremony attended by Mr. Ajith Nivard Cabraal, the Governor of Central Bank of Sri Lanka (CBSL), Lanka ORIX Finance Company Ltd. opened its inaugural money changer facility at its Matara branch on the 25th of January 2011. The event was attended by many distinguished guests representing both Central Bank of Sri Lanka and Lanka ORIX Finance Company Ltd. This included Assistant Governor of CBSL Mr. C.J.P Siriwardena and Controller of Exchange Mr. Osman Chandrawansa accompanying the Governor of CBSL, whilst Deputy Chairman of the LOLC Group Mr. Ishara Nanayakkara and the Group Managing Director and CEO of LOLC Mr. Kapila Jayawardena attended along with other senior officials representing Lanka ORIX Finance Company Ltd.

The new service will be available at the Matara, Kalutara, Kandy, Jaffna, Dambulla, Trincomalee, Vavuniya, Chilaw, Nuwara Eliya, and Ampara branches of Lanka ORIX Finance Company Ltd., with many more branches scheduled to offer foreign currency exchange services throughout the country. A wide spectrum of customers including Sri Lankans as well as foreigners will be able to make use of the new value addition by way of exchanging foreign currency from dedicated foreign exchange facilities of the Company located island wide. Skilled staff at these branches will offer specialized services to all customers in this regard.

Commenting on the landmark opening of the new service, the Group Managing Director and CEO of LOLC, Mr. Kapila Jayawardena said, "It is with great pride that we announce the opening of Lanka ORIX Finance Company’s very own foreign currency exchange facility. We have enhanced our product offering to a greater extent which is intend on providing total financial solutions best suited to meet a diverse and growing range of customer requirements. With the new money exchanger facility, we have provided an opportunity not just for local customers but for a vast number of tourists visiting the country to use a hassle free foreign currency exchange service from our dedicated branches. "

Adding further Mr. Jayawardena said, "The country has begun its mammoth task of resuscitating economic development, and we have been experiencing a surge in tourists arrival during the recent past. As a private sector initiative we will extend our products and services to help boost the tourism sector of the country more proactively. Positive developments such as this will have an optimistic impact on the way foreign currency changes hands within Sri Lanka."



Last edited by Quibit on Sun Jan 30, 2011 1:36 pm; edited 1 time in total (Reason for editing : format condensed)

2LOCL: First Foreign Currency Exchange Services Unit Empty LOLC POTENTIAL Sun Jan 30, 2011 11:25 pm

ONTHEMONEY


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Lanka Orix Leasing Company (LOLC) came in to the market via a joint venture between Orix Corporation Japan and International Finance Corporation 30 years ago.LOLC is a pioneer entity in Sri Lanka.

Orix Corporation becoming the parent to LOLC is a pioneer Single Largest Leasing Company in the world with its substantial presence in 27 countries worldwide and listed in Stock Exchanges of Tokyo and New York.

LOLC is committed to pursuit a management strategy that enables the group to contribute to the betterment to all stakeholders prioritizing the Shareholders.

LOLC has over 70 customer service touch points island wide.

LOLC EARNINGS IN LAST QUARTER(Revenue)

Rs Mn

Variable-------------As at 30.06.10 -------- As at 30.09.10

Financial Services -----1,494 Mn ------------ 3,626 Mn
Plantation ------------ 193 Mn ------------- 1,359 Mn
Trading -------------- 113 Mn ------------- 372 Mn
Leisure -------------- 7 Mn --------------- ( 114) Mn
Power & Energy ------ 12 Mn -------------- 8.535 Mn
Others -------------- (716) Mn ----------- (758)Mn
Insurance ----------- (0.8)Mn ------------ (4.049) Mn
Total ----------1,150 Mn ( 1.150 Bn) ---- 4,529 Mn ( Rs 4.529 Bn)

By looking at QoQ growth of LOLC it well evident the diversified company has extreme earnings from Financial Service, Plantation, Trading in particular. The Financial Services, Plantation and Trading sectors displaying QoQ growth rate of 142%, 604%, 229%.

During recent past we have observed a mega price hike in Plantation products which will have a highly positive contribution in coming quarters towards Plantation Revenue of LOLC .(Pussallawa Plantation and Gal Oya will contribute in large numbers to the Top line in coming Quarters)

Although the Leisure sector indicates a loss it will be streamlined with the recent developments in the Tourism industry. Yield will be generated in last 2-3 quarters in 2011.

Also we can expect an increase Revenue in Power & Energy sector as well due to the need and emphasis made by the Government on Hydro Power energy.

In LOLC the future Key sectors to watch – Plantation, Leisure, Power, and Financial Services

Sectors such as Trading, Insurance and others would perform above average considering the overall picture but the Key sectors mentioned above will outperform in coming quarters delivering superior results.

Share Value

Current Trading @ ---------- Rs 135 – Rs 143
Issued Quantity ------------ 475,200,000
PAT as at 30.06.10 –-------- Rs 3,854Bn (6 months ended)
EPS ------------------------ 3,854/475.2 --------- 8.11( 6 months)
Annualized ------------------ 8.11/2*4 -----------16.22
PE as at 27.01.11 ------------- 139/16.22 --------- 8.57
Projected price @ 12 Market PE --------- 16.22*12--------- Rs 194.64

Conclusion – LOLC has a high potential over breaking the above barrier since it is calculated based on last quarter earnings. We have the opinion it would have mega rally over next couple of weeks with its financial reports are out. It is a value gem that many have not concentrated well and we believe we should buy and sell securities with a reason. LOLC is a stock that is equal to GOLD in current market sentiments in SHORT, MEDIUM, LONG TERM

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