SUGA union ask govt to buy back

salt · 1 SUGA union ask govt to buy back Tue Mar 22, 2011 9:45 am

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SUGA trade union have asked govt to acquire the company. It is going up? What an efficient market?

Monster · 2 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 9:51 am

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salt wrote:SUGA trade union have asked govt to acquire the company. It is going up? What an efficient market?

This is CSE. Mad

Mostly it behaves based on speculations.

cse.alpha · 3 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 11:57 am

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World sugar prices may be high, but SUGA's recent financial performance has been very bitter.

It reported a net loss of -Rs169 mn in third quarter of FY11 and its book value is Rs21 per share. Crop is seasonal, but output has been poor and yield low.

Subsidiary Pelwatte Dairy's IPO has long been talked of, together with investments in tourism and power, which are again though both long term.

Takeover speculation talk has also emerged in the past (LOLC, BRWN, CIC, CARG and DIST have been mentioned as possible local buyers), and illiquid share can be easily manipulated (promoters hold 85%, and only 100,000 shares are needed to enter Top 20 shareholder list - share was as high as Rs50 just last month).

Again, buyer beware.

UKboy · 4 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 1:15 pm

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Guess they dont want work anymore.. Smile

Gaja · 5 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 10:13 pm

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http://www.sundaytimes.lk/index.php/news/5766-stocks-colombo-shares-see-finance-company-rally-

Monster · 6 Re: SUGA union ask govt to buy back Wed Mar 23, 2011 12:04 pm

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http://print.dailymirror.lk/business/127-local/38989.html

cse.alpha · 7 Re: SUGA union ask govt to buy back Wed Mar 23, 2011 5:17 pm

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http://www.cse.lk/cmt/upload_cse_announcements/671300880864_.pdf

Controlling shareholder, Master Divers, has sold 2.66 million SUGA shares.

Monster · 8 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:09 pm

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Another 32 million shares transfers today at Rs27.50

Gaja · 9 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:13 pm

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Monster wrote:Another 3.2 million shares transfers today at Rs27.50

Is 3.2 Million or 32 Million Shares

Monster · 10 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:17 pm

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Gaja wrote:

Monster wrote:Another 3.2 million shares transfers today at Rs27.50

Is 3.2 Million or 32 Million Shares

32 million. There was a mistake. Very Happy

cse.alpha · 11 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:59 pm

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http://print.dailymirror.lk/business/127-local/38989.html

According to Wikramanayke, there is no take over bid in motion. High international sugar prices forced the share price to go up. “There’s no reason to divest my stake in the company, because of rising international sugar prices,” he added

- Above is comment from Mr.Ariyaseela Wickramanayake in Daily Mirror of 23rd re: SUGA

He then sells a controlling stake in SUGA the next day at heavily discounted price - the man has no shame it seems.

Monster · 12 Sri Lanka sugar firm control changes Thu Mar 24, 2011 1:34 pm

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Sri Lanka sugar firm control changes

Mar 24, 2011 (LBO) - Sri Lanka's Master Divers had sold control of Pelwatte Sugar Industries to the Stassens group of businessman Harry Jayewardene, its chairman Ariyaseela Wickramanayake said.
"It needs a tough person to control that place," Wickramanayake said.

Wickramanayake said he still had a third share of the firm, and would continue to work on a dairy project.

Wickremanayake said the Jayewardene's group had 51 percent of Pelwatte. There had been speculation about the sale of the firm to Distilleries Company of Sri Lanka, but Wickramanayake had earlier denied an imminent sale.

On Wednesday 31.96 million shares were traded at 27.50 rupees down 9.20 from a day earlier. On Tuesday Master Divers sold down a 3.2 percent stake on the market, the firm in a stock exchange filing.

In Sri Lanka sugar is a tariff protected tax arbitrage industry.

http://www.lbo.lk/fullstory.php?nid=807271808

Monster · 13 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 1:44 pm

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http://www.cse.lk/cmt/upload_cse_announcements/3221300954021_.pdf

DIST purchased 47% shares of SUGA.

StocksWatch · 14 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:33 pm

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No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Slstock · 15 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:39 pm

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StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

StocksWatch · 16 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:41 pm

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slstock wrote:

StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

He is building his kingdom...pure monopoly.

Monster · 17 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:57 pm

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StocksWatch wrote:

slstock wrote:

StocksWatch wrote:No wonder why HJ took over Pelawatta. The industries are somewhat related. (Sugar cane and production of liquor) will see what he is upto now.

Yes there is a liquor part in SUGA

He is building his kingdom...pure monopoly.

Let's see how Mr HJ will convert the loss making company to a profit making company.

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SUGA union ask govt to buy back

1 SUGA union ask govt to buy back Tue Mar 22, 2011 9:45 am

salt

2 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 9:51 am

Monster

3 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 11:57 am

cse.alpha

4 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 1:15 pm

UKboy

5 Re: SUGA union ask govt to buy back Tue Mar 22, 2011 10:13 pm

Gaja

6 Re: SUGA union ask govt to buy back Wed Mar 23, 2011 12:04 pm

Monster

7 Re: SUGA union ask govt to buy back Wed Mar 23, 2011 5:17 pm

cse.alpha

8 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:09 pm

Monster

9 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:13 pm

Gaja

10 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:17 pm

Monster

11 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 12:59 pm

cse.alpha

12 Sri Lanka sugar firm control changes Thu Mar 24, 2011 1:34 pm

Monster

13 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 1:44 pm

Monster

14 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:33 pm

StocksWatch

15 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:39 pm

Slstock

16 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:41 pm

StocksWatch

17 Re: SUGA union ask govt to buy back Thu Mar 24, 2011 3:57 pm

Monster

18 Re: SUGA union ask govt to buy back

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