ALUF @ Rs.15

Aubrey Perera · 1 ALUF @ Rs.15 Mon Oct 14, 2013 7:15 pm

Aubrey Perera

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Hi ,

Those of you who remember I purchased ALUF at Rs.15 about a month back and have been holding on. I know this might be crap and I took a risk . But I noticed continuous buying and even today few thousand shares traded at Rs.17.30 ( 75000). I have been tempted to sell many times specially when it reached Rs.18 but I'm still holding on Smile

. Should I exit at this point or hold ? any ideas ?

Jake Sully · 2 Re: ALUF @ Rs.15 Wed Oct 16, 2013 11:50 am

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I don't know what's going on with the company since no accounts were released lately. But I'm sure you can hold on to it till it go to 20.

Slstock · 3 Re: ALUF @ Rs.15 Wed Oct 16, 2013 12:42 pm

Slstock

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There is thread with lot of discussion on ALUF as below
http://forum.srilankaequity.com/t30769-aluf-crap

Though I don't like to give direct buy, sell or hold for obvious reasons, I see buying interest still in Aluf.

My opinion on current market situation is also below.
http://forum.srilankaequity.com/t31200-cse-and-future

I guess you can take hint from above what you should do immediately.

Aubrey Perera · 4 Re: ALUF @ Rs.15 Thu Oct 17, 2013 2:57 pm

Aubrey Perera

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Thanks skully and sl stock I actually sold VFIN at break even point and purchased more ALUF . I know its a gamble and vfin might move up during the next few weeks but I gambled. Yes I too have noticed steady buying from Aluf. But what is the SEC doing about non submission of accounts ? in the past too directors have been taken to court for this same reason. Don't understand why the delay is . Lets see how my gamble pays off .

Aubrey Perera · 5 Re: ALUF @ Rs.15 Thu Jan 09, 2014 12:24 pm

Aubrey Perera

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Hi Didn't want to open another thread . But seriosuly what's wrong with ALUF ?? their latest annual report too doesn't seem very positive . Now I'm thinking I should have sold at Rs.18 . But I can hold for a long time. But it is frustrating when you were expecting them to improve. Any comments on their latest accounts ???

Hawk Eye · 6 Re: ALUF @ Rs.15 Thu Jan 09, 2014 12:46 pm

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Read The Annual report. after June 2012 they havent filed any Quarterly reports.

I just went through the annual reports. Read Auditors opinion and the scaring subsequent notes. Also the contingent liability Note 25 and note 26

In my opinion they are in to mess. But this also gives an opportunity ,but not at this value

Aubrey Perera · 7 Re: ALUF @ Rs.15 Thu Jan 09, 2014 1:02 pm

Aubrey Perera

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Yes Hawk...the last few annual reports auditors reports have been scary...I guess this is to be expected give the mess that the company was in, but after the rights issues, you would presume that the management would improve things . I think this classen guy should sell the company to a local. I think his method of doing business will never get the company out of it's current mess. They lack basic marketing skill as well. Hopefully it will move up and I can exit .

smallville · 8 Re: ALUF @ Rs.15 Thu Jan 09, 2014 2:07 pm

smallville

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ALUF is D Perera's company know?

Slstock · 9 Re: ALUF @ Rs.15 Thu Jan 09, 2014 2:15 pm

Slstock

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No Thats LALU.

Perera might be eying ALUF. A take over might be the only good thing for ALUF right now.

Utterly incapable management. I am still figuring how they can blow Rs 100 mil on costs.
What a waste of money with a right issue at upper Rs 30s.

Time is right for a management change . The present management should realize it is better to sell and move on than holding on to heartaches for them/shareholders. The top guy seems to have emotional attachment as if I recall he pumped in lot of money to rescue this.

smallville wrote:ALUF is D Perera's company know?

Last edited by slstock on Thu Jan 09, 2014 2:27 pm; edited 1 time in total

Aubrey Perera · 10 Re: ALUF @ Rs.15 Thu Jan 09, 2014 2:25 pm

Aubrey Perera

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Slstock spot on if D perera or even someone with a bit more knowledge than the present management take over it will good for existing shareholders. CSE and investors can really do without management teams like this .