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Sri Lanka Equity Forum » Stock Market Talk » MULTI FINANCE PLC (MFL.N0000)

MULTI FINANCE PLC (MFL.N0000)

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1MULTI FINANCE PLC (MFL.N0000) Empty Multi Finance Co. to announce IPO on Sun Apr 03, 2011 9:23 am

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics
"Multi Finance Company Limited, a Central Bank regulated finance company acquired by Entrust Group of Companies, is to announce its Initial Public Offering (IPO) in the near future."
http://www.thebottomline.lk/2011/04/03/page5.html

2MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Sun Apr 03, 2011 9:25 am

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics



Last edited by kiri on Sun Apr 03, 2011 9:34 am; edited 1 time in total (Reason for editing : add a link)

3MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Sun Apr 03, 2011 7:11 pm

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
[quote="kirihttp://www.thebottomline.lk/2011/04/03/page5.html[/quote]

In the news story above it says :-

Due to the lull in the Bourse due to the upcoming traditional New Year season, the IPO will be announced during the latter part of April or early May.

http://forum.srilankaequity.com/u188

4MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Sun Apr 03, 2011 10:53 pm

npc86

npc86
Manager - Equity Analytics
Manager - Equity Analytics
Will it like that Senkadagala Finance scenario..!


jocolor jocolor jocolor

5MULTI FINANCE PLC (MFL.N0000) Empty The Multi Finance Company - Introduction on Fri May 13, 2011 10:05 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

6MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Fri May 13, 2011 10:23 am

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
Apr 19, 2011 (LBO) - The Multi Finance Company, a finance company once part of the troubled Ceylinco financial services group, is to list on the Colombo stock exchange by June to conform with regulatory requirements.

http://www.lankabusinessonline.com/fullstory.php?nid=85393318

Site : http://mfcl.entrust.lk/index.asp



Last edited by milanka on Fri May 13, 2011 10:31 am; edited 1 time in total (Reason for editing : Added the web link.)

http://forum.srilankaequity.com/u188

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Managers to Multi Finance listing have bought shares in company in May 2011

Multi-Finance will be the newest finance company to list tomorrow.

But there is a difference this time.

Its Introductory document shows its current controlling owner Entrust Ltd, has sold over a million shares on 4th may 2011, with a large number of shares being bought by the managers to the issue Capital Alliance and some of its top employees

Why is the CSE allowing this kind of conflict of interest ? At the very least, managers to issues and their employees should be independent.

8MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Sun May 29, 2011 11:31 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
since this also will be listed by way of introduction, the existing shareholders transfer some of their holding to known parties, see what happen to the already concluded introductions

9MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Mon May 30, 2011 9:20 am

StocksWatch

StocksWatch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Thanks cse.alpha for revealing this misconduct.

As we know about these dealings now, need to be extremely careful in trading with this share once it is introduced.

CSE.SAS

CSE.SAS
Global Moderator
Sri Lanka-based Multi Finance PLC’s Outlook has been revised to Negative from Stable, by Fitch Ratings.

At the same time, the agency has affirmed MFP’s National Long-Term rating at ‘B+(lka)’.

Fitch says, the revision of the Outlook reflects MFP’s weakening liquidity profile and net losses due to higher borrowing costs and increased operating expenses driven by branch expansion and relocation.

It also says, the net losses in nine months ending December-2012 have also resulted in sharply decreasing capitalisation which, however, remains commensurate with some of the higher-rated peers.

“The ratings also reflect the company’s small asset size and less established, but growing, franchise relative to that of domestic peers”, the agency added in its rating release.

Below is the full rating release issued by Fitch

Fitch Ratings-Colombo/Seoul/Singapore-18 March 2013: Fitch Ratings Lanka has revised Sri Lanka-based Multi Finance PLC’s (MFP) Outlook to Negative from Stable. At the same time, the agency has affirmed MFP’s National Long-Term rating at ‘B+(lka)’.

Rating Action Rationale

The revision of the Outlook reflects MFP’s weakening liquidity profile and net losses due to higher borrowing costs and increased operating expenses driven by branch expansion and relocation. The net losses in nine months ending December-2012 have also resulted in sharply decreasing capitalisation which, however, remains commensurate with some of the higher-rated peers. The ratings also reflect the company’s small asset size and less established, but growing, franchise relative to that of domestic peers.

Rating Drivers and Sensitivities

The rating may be downgraded if MFP is unable to secure sources to fund its large maturity mismatches along with unstable deposits, which could cause further liquidity pressure, and a widening of net losses weakening its profitability and capitalisation. Conversely MFP’s ability to stem the deterioration of its liquidity and profitability could lead to the Outlook being revised to Stable.

Fitch expects liquidity pressure to remain intense as cumulative maturity gaps under 12 months are high with limited confirmed unutilised credit lines at end-2012. MFP will have to source deposits or obtain borrowings to fund its existing mismatches. MFP has a revolving credit line from its parent, Entrust Limited, but repayment is on demand. Liquid assets to deposits decreased to 10.3% in the nine months to the financial year ending March 2013 but remained within regulatory levels. Deposits grew 52% in 9MFY13 but are concentrated with top five depositors accounting for 29% of total deposits. Any deposit outflows could further exacerbate current liquidity pressures and warrant a negative rating action.

Net interest margin (NIM) decreased to 9% in 9MFY13 (FY12:12%) as funding costs increased with higher borrowings. This, alongside an increase in operating costs, drove return on assets (ROA) to negative 2.3% in 9MFY13 from 2.9% in FY12. Fitch expects that maintaining NIM will remain challenging due to uncertainty over the terms for refinancing its securitisation loan maturing in 2013 and weak credit demand in the economy. MFP’s profitability is likely to remain under pressure unless new branches break even and borrowing costs decline.

Fitch also expects capitalisation to come under pressure unless loan growth is moderated and MFP resumes profitability. Loan growth and accumulated losses at 9MFY13 led to a decline in equity/assets to 25.2% (FY12: 41%) which, however, remains higher than some of its higher- rated peers. Solvency weakened with three-month net non-performing loans/equity increasing to 38.2% in 9MFY13 (FY12: 6.5%).

Asset quality weakened with its three-month NPL and six-month regulatory NPL ratio increasing to 13.9% and 1.8% in 9MFY13, respectively (FY12: 3.3% and 0.9%) but remaining in line with peers. Fitch expects asset quality to be weighed down by inflationary pressures and a weak domestic economy. Provisioning cover remained low with Loan loss reserve/three-month NPL at 4.7% in 9MFY13 (FY12: 6.5%). This is largely because three-month NPLs do not require regulatory provisioning.

MFP’s lending portfolio consists mainly of vehicle financing (end-2012: 91%). Fitch expects loan growth to slow due to the weak demand in the vehicle market.

MFP is a licensed finance company that is 86% owned by Entrust. The latter is an investment holding company and has other subsidiaries: Entrust Investments Limited. Entrust Securities PLC, Entrust Healthcare and Standard Credit Lanka Ltd. Entrust is 99.9% held by Pacific Trust (Private) Limited.

http://www.news360.lk/business-finance/news-18-03-2013-rating-sri-lanka-fitch-125189

11MULTI FINANCE PLC (MFL.N0000) Empty MFL MULTI FINANCE RECORDS SIGNIFICANT PROFIT on Wed Aug 13, 2014 12:12 am

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
MULTI FINANCE RECORDS SIGNIFICANT PROFIT
MULTI FINANCE PLC (MFL.N0000) Z_pi-MULTI-FINANCE
Multi Finance PLC reported a total turnaround of its results for the fourth quarter ended March 31, 2014 recording a net profit of Rs. 18.6 Mn, against Rs. 54.7 Mn loss year on year (YoY), as per published accounts.
During the quarter under review, net income from operations reached Rs. 39.9 Mn, 71% growth compared to the quarter ended 03/2013 which was recorded as Rs. 23.3 Mn.MULTI FINANCE PLC (MFL.N0000) Z_pi-MULTI-FINANCE01
The net interest income for the quarter ended 03/14 also increased with 24% reaching Rs. 31.7 Mn, compared to Rs. 25.6 Mn YoY owning to improvements in quality lending and strict credit processes introduced. Operating expenses of the company fell to Rs. 35.5 Mn as against Rs. 41.4 Mn YoY which is a 14% improvement mainly due to strict cost control mechanisms adopted.
Most significant is that the company's net impairment has recorded an outstanding improvement of 198% which is a reversal of Rs. 12.6 Mn as against a charge of Rs. 12.8 Mn in the quarter ended March 2013.
Further NPLs on leasing, HP and loans have come down to 4.41% quarter on quarter due to aggressive recovery techniques adopted by the company. Earnings per Share of the company have improved from -9.74% to 3.32% within the quarter while improving the company's quality of the asset portfolio. Return on equity has improved to 5.54% from -13.88% and Return on Assets is up by 83% from -4.09% to 1.25%YoY.
Multi Finance Chief Executive Officer, Pushpike Jayasundera said the total re-structuring of the company, introducing best practices in the industry, BPR carried out with regard to most of its processes were the key factors to achieve this significant results in the quarter.
"I am happy to announce that Multi Finance team managed to achieve this total turn around recording a significant net profit of Rs 18.6 Mn, up by 134% YoY. This achievement was possible due to the prudent management policies adopted at the right time and dedicated and motivated team said Jayasundera.
The company's had re-engineered its entire processes from lending, recovery to deposits to harness the best possible output.
- See more at: http://www.dailynews.lk/?q=business/multi-finance-records-significant-profit#sthash.QHDZYWzG.dpuf

12MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Wed Aug 13, 2014 12:29 am

Top Trader


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Gainer can understand ur intention friend, why another new post for the same company very quickly

13MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Aug 14, 2014 3:03 pm

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
ESL holding of MFL both are illiquid stocks because more than 90% ESL holding

Last quarter ESL earning per share 3.09 and MFL earing per share 3.32

both are good finance companys very easy to move up

14MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Aug 14, 2014 5:25 pm

EWML


Equity Analytic
Equity Analytic
@Gainer wrote:ESL holding of MFL both are illiquid stocks because more than 90% ESL holding

Last quarter ESL earning per share 3.09 and MFL earing per share 3.32

both are good finance companys very easy to move up

ESL is not the holding company of MFL. Also, ESL is not a licensed finance company. It's a primary dealer appointed by CBSL.

15MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Aug 14, 2014 5:32 pm

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@EWML wrote:
@Gainer wrote:ESL holding of MFL both are illiquid stocks because more than 90% ESL holding

Last quarter ESL earning per share 3.09 and MFL earing per share 3.32

both are good finance companys very easy to move up

ESL is not the holding company of MFL. Also, ESL is not a licensed finance company. It's a primary dealer appointed by CBSL.

http://www.cse.lk/cmt/uploadAnnounceFiles/8591401191748_.pdf

16MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Aug 14, 2014 7:24 pm

lux2014

lux2014
Manager - Equity Analytics
Manager - Equity Analytics
Where does it mention MFL pl?

17MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Aug 14, 2014 8:01 pm

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics

18MULTI FINANCE PLC (MFL.N0000) Empty MULTI FINANCE PLC (MFL.N0000) on Wed Sep 07, 2016 6:15 pm

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
MFL (Multi Finance) Going to take over

Multi Finance PLC is close to finalising potential investors to bring in new owners to the company, officials said.  ”We’re doing due diligences for some parties who have showed serious intent to buy this company.” He said that during the past six months many proposals have come and they were evaluated.  ”Among them were intentions to buy this company, part own and manage, etc.  We went through all proposals,” the official said.
He said that a due diligence is nearing completion for real estate and properly developer, Prime Lands which is the forefront to buy Multi Finance.
Prime Lands Group comprises four subsidiaries – Prime Lands (Pvt) Ltd, Prime Homes International (Pvt) Ltd, Prime Grameen Micro Finance Ltd and Living Homes (Pvt) Ltd.  He said that Multi Finance PLC, a new company with a moderate deposit base has attracted some firms that are growing inorganically.

19MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Sep 08, 2016 12:50 am

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
MFL Similar GSF , Both are small share capital GSF trading at 30 Levels  and  MFL also easy to move up 30 levels.

MFL very illiquid stock with this news it can move up new high price.





MFL only 7% Shares in the retailers hand easy to move up cheers cheers cheers

20MULTI FINANCE PLC (MFL.N0000) Empty Re: MULTI FINANCE PLC (MFL.N0000) on Thu Sep 08, 2016 9:47 am

Equity Suda


Senior Equity Analytic
Senior Equity Analytic
What is the source?

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