Top 20 share holder's list - ASCO

troy · 1 Top 20 share holder's list - ASCO Mon Feb 06, 2012 12:42 pm

troy

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Check out ASCOT top 20 share holders. You may find some news...
Moderators,
Please donot put this in prison. If needed change the wording and let our forum members beaware of the current mkt situation What a Face

Last edited by Monster on Tue Feb 07, 2012 3:01 pm; edited 3 times in total (Reason for editing : To change it to the appropriate title of the topic)

Kumar · 2 Re: Top 20 share holder's list - ASCO Mon Feb 06, 2012 12:49 pm

Kumar

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This subject already discussed in this forum.
Please see below the link.
http://forum.srilankaequity.com/search?search_keywords=ascot

mra · 3 Re: Top 20 share holder's list - ASCO Mon Feb 06, 2012 1:00 pm

mra

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troy wrote:Check out ASCOT top 20 share holders. You may find some news...
Moderators,
Please donot put this in prison. If needed change the wording and let our forum members beaware of the current mkt situation

yes aldy discussed. also you don't have to please any of the moderators. anybody can check any companies top share holders list. its a legal news of a company.

sapumal · 4 Re: Top 20 share holder's list - ASCO Mon Feb 06, 2012 1:01 pm

sapumal

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Money laundering

Chinwi · 5 Re: Top 20 share holder's list - ASCO Tue Feb 07, 2012 10:51 am

Chinwi

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If you declare "Corruption and Political interference " by looking at present 20 major shareholders of ASCOT then I can say you do not know anything about the ACSOT saga.

If you are interested please learn the history of Ascot Holdings and find who collected millions of shares slowly @ Rs. 6 or 7 and how they made loss making useless looking share into a healthy looking asset rich company and sold the share over Rs. 80 within few months to recover the total input while keeping the major % needed for the ownership.

Unfortunately small people who kept the share for months if not years sold their holding between 6 or 9 before the new collectors took it to 80/- disclosing reasons for the value.

Slstock · 6 Re: Top 20 share holder's list - ASCO Tue Feb 07, 2012 12:16 pm

Slstock

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Firstly any individual of the country can legally hold shares of a company. So just based on holding shares itself it maybe not be fair to call any party corrupt for doing so . But I do not have any other insider info. Also don;t call me political as I do not want to drag politics into this . I just believe that it might be best to have some proof and be fair about any accusation we make about anybody. That all.

But I still do not know why this company is trading in the Rs 150s based on fundamentals though . But we know that fundamentals is not the only thing that makes share prices go up and down.

If one wants more details and some history of this Company the below article was published in the Island newspaper.
I highlighted the history part.

By Ravi Laduwahetty

The president’s two elder sons, Namal and Yoshitha, are listed among the top 20 shareholders of Ascot Holdings PLC according to the company’s interim financial statements.

According to this list, Mr. Y.K. (Yoshitha) Rajapaksa owns 100,000 shares and Mr. L.N. Rajapaksa (Namal) 92,000 shares as at Sept. 30, 2011.

Although in the top 20 list, in percentage terms their shareholding is a modest 1.25% and 1.15% though they are the 12th and 13th largest shareholders in the company which is fairly closely held.

Previously Asian Cotton Mills Ltd., the Jayewardene family had interests in the company founded in the middle sixties to spin cotton yarn. It had extensive property at Ratmalana but was in difficulty for many years due to a number of factors, many of them outside the company’s control.

Mr. A.Y.S. Gnanam, the well known tycoon, ran Ascot for a number of years but could not turn it around. Later control passed to the Kuwaiti investor, Al Nakib. Thereafter a group led by Mr. Rohan Iriyagolle took control, sold off machinery and land and invested the proceeds in a Colombo property development project at T.B. Jayah Mawatha (Darley Road).

The company now operates mainly on the rental income of this property.

Mr. deleted Perera, financial advisor to Mr. Dhammika Perera and on the boards of companies controlled by him, is also in Ascot’s Top Twenty list with 269,200 (3.37%)and is ranked the sixth largest shareholder.

Axis Financial Services (Pvt) Ltd. with 3 million shares (37.57%) and Boston Capital Pvt. Ltd with 649,500 shares (8.13%) are the two largest shareholders of Ascot with these shares held through two banks. Their individual accounts follow with Axis having a further 358,092 shares (4.48%) and Boston 314,864 shares (3.94%).

Some directors of Ascot are believed to have beneficial interests in shares held by holding companies.

The Ascot share traded at a high of Rs. 207.70 and a low of Rs. 99 in the Sept. quarter 2011 against Rs. 80 and Rs. 47 a year earlier. It closed at Rs. 151.80 on the CSE last Friday.

Total assets as at Sept. were Rs. 1.25 billion and liabilities approx. Rs. 600 million.

The group posted a small loss of Rs. 5.9 million in the period ended Sept. 30, 2011, translating to a loss of Rs. 0.73 per share.

The directors of the company are Messrs. V.P. Malalasekera, Chairman, Rohan Iriyagolle, N.D. Gunaratne, N.A. de Mel, Chanaka de Silva and Deleted. Gunaratne.

Monster · 7 Re: Top 20 share holder's list - ASCO Tue Feb 07, 2012 2:46 pm

Monster

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As slstock said, any individual can buy any shares legally. But the concern is, is it worth to trade this share at this level. Who brought this share to this level from Rs 80 - 90/-. Who are behind this scam? I believe majority of us know that. Wink

greedy007 · 8 Re: Top 20 share holder's list - ASCO Tue Feb 07, 2012 3:07 pm

greedy007

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If we studied well,most of the shares manipulated in the past were associated indirectly with the politicos.
We voted and now feared to spell a word,white van, Kelani river bla bla.....

Miracle of Asia hope diminishing.

K.Haputantri · 9 Re: Top 20 share holder's list - ASCO Tue Feb 07, 2012 6:56 pm

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While acknowledging the unrestricted freedom to own stocks irrespective of one's status in the society I wish to state that I have "faith" in the "systems" in place to check foul play.

Why bother on manipulated shares when there are hosts of sound stocks around. Let the "regulator" do the "job".

Thank every body for educating kids like me. I rather play a game of "Katti" than going after such ... shares.