COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)

stockback wrote:I have enter CSE 2011 - ASI over 7000

apu dawase indan amaru kalayak udin giye.

2011 level My Knowledge is equal to zero. I learn lot from this forum and other two forums. now I am able to stand alone.

I have invest 1.8 Millions. over 6 millions withdraw. now Port-folio is more-than 10 Millions( I own)

i got profit from every stocks except SFL (I have give-up bcz rubbish promoter here. now that promoter nothing doing here and SFL start to move.)

my target COCR trading over 90 level easily with financial report and with this deal.

what i seen you not seen. what you seen I am not seen.

Good Luck. Time will define everything 


if COCR drop bellow 60 level. I am happy and buy second lot. I have enough confidence about this company. this is profit growing company. 

I am sure this will be catch Lfin-profit within 1-2 Years.

 we will see......

TARGET wrote:

stockback wrote:I have enter CSE 2011 - ASI over 7000

apu dawase indan amaru kalayak udin giye.

2011 level My Knowledge is equal to zero. I learn lot from this forum and other two forums. now I am able to stand alone.

I have invest 1.8 Millions. over 6 millions withdraw. now Port-folio is more-than 10 Millions( I own)

i got profit from every stocks except SFL (I have give-up bcz rubbish promoter here. now that promoter nothing doing here and SFL start to move.)

my target COCR trading over 90 level easily with financial report and with this deal.

what i seen you not seen. what you seen I am not seen.

Good Luck. Time will define everything 


if COCR drop bellow 60 level. I am happy and buy second lot. I have enough confidence about this company. this is profit growing company. 

I am sure this will be catch Lfin-profit within 1-2 Years.

 we will see......

How about acap? Unloaded your qty by promoting day and night? ..

whyzo wrote:@Chinwi, 


What is your target price to buy back COCR ?

TARGET wrote:Chinwi may earn. But he didn't promote it to sell his qty like you stockback.  What you think?  How many new comers may had loss due to your promotions those days..poor fellows. .

stockback wrote:

TARGET wrote:Chinwi may earn. But he didn't promote it to sell his qty like you stockback.  What you think?  How many new comers may had loss due to your promotions those days..poor fellows. .

new comers are loss realized?

how do you say like that.

nearly 80% i can say correctly. some time we also getting problems. 

what i said. considering  technically and ACAP portfolio. if company doing something bad then i cannot get responsibility.

is that ACAP crap share?

how many people here promote crap CIFL. what i said dont buy wait until deal done.

but I am not that position to COCR. this year you will understand about COCR. that time dont forget my word.

ruwan326 wrote:

stockback wrote:

TARGET wrote:Chinwi may earn. But he didn't promote it to sell his qty like you stockback.  What you think?  How many new comers may had loss due to your promotions those days..poor fellows. .

new comers are loss realized?

how do you say like that.

nearly 80% i can say correctly. some time we also getting problems. 

what i said. considering  technically and ACAP portfolio. if company doing something bad then i cannot get responsibility.

is that ACAP crap share?

how many people here promote crap CIFL. what i said dont buy wait until deal done.

but I am not that position to COCR. this year you will understand about COCR. that time dont forget my word.

If you take CIFL and COCR we both know CIFL is a crap...............
CIFL didn't singed a deal and there was no agreement to proof.........
COCR still in same way but we saw the agreement and they might sign it in the future.....

Some times you need to take risks rather than waiting to invest safely, if you waited till COCR deal to end it already reached 100/=+ and you can not make a good profit,but if you bought COCR before the announcement and if you can hold at 54/= ++ it is a good invest.

ruwan326 wrote:

ruwan326 wrote:

stockback wrote:

TARGET wrote:Chinwi may earn. But he didn't promote it to sell his qty like you stockback.  What you think?  How many new comers may had loss due to your promotions those days..poor fellows. .

new comers are loss realized?

how do you say like that.

nearly 80% i can say correctly. some time we also getting problems. 

what i said. considering  technically and ACAP portfolio. if company doing something bad then i cannot get responsibility.

is that ACAP crap share?

how many people here promote crap CIFL. what i said dont buy wait until deal done.

but I am not that position to COCR. this year you will understand about COCR. that time dont forget my word.

If you take CIFL and COCR we both know CIFL is a crap...............
CIFL didn't singed a deal and there was no agreement to proof.........
COCR still in same way but we saw the agreement and they might sign it in the future.....

Some times you need to take risks rather than waiting to invest safely, if you waited till COCR deal to end it already reached 100/=+ and you can not make a good profit,but if you bought COCR before the announcement and if you can hold at 54/= ++ it is a good invest.

06:52:39 & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, so do your own research before investing and do not blame some one after you lost or invested on crap share

stockback wrote:


according to Group Lease doc. they have sign a agreement. in that doc they haven't mention the date.

according to that agreement they has buy now. unless SEC OR SET not approved. I am sure this will be getting approval. 

COCR this level bcz of ASI. now Market P/E 13

I have involve to this type activities. 

example one company request P/E 10 for deeal. at that time share price and P/E =4.5
they have request 5.5 times of net Assets. 

my client request 25% shares. Company doesnt like to give that much

according to knowledge this deal is genuine one.

but CIFL not. 

ekathamai hari thanadi katha karanne.....

ruwan326 wrote:

ruwan326 wrote:

stockback wrote:

TARGET wrote:Chinwi may earn. But he didn't promote it to sell his qty like you stockback.  What you think?  How many new comers may had loss due to your promotions those days..poor fellows. .

new comers are loss realized?

how do you say like that.

nearly 80% i can say correctly. some time we also getting problems. 

what i said. considering  technically and ACAP portfolio. if company doing something bad then i cannot get responsibility.

is that ACAP crap share?

how many people here promote crap CIFL. what i said dont buy wait until deal done.

but I am not that position to COCR. this year you will understand about COCR. that time dont forget my word.

If you take CIFL and COCR we both know CIFL is a crap...............
CIFL didn't singed a deal and there was no agreement to proof.........
COCR still in same way but we saw the agreement and they might sign it in the future.....

Some times you need to take risks rather than waiting to invest safely, if you waited till COCR deal to end it already reached 100/=+ and you can not make a good profit,but if you bought COCR before the announcement and if you can hold at 54/= ++ it is a good invest.

06:52:39 & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, so do your own research before investing and do not blame some one after you lost or invested on crap share

& commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility    not 06:52 ....

TARGET wrote:stockbackata ninda yanne na 70 ta gaththa tika kage hari age gahala maru wenakam...

stockback wrote:

TARGET wrote:stockbackata ninda yanne na 70 ta gaththa tika kage hari age gahala maru wenakam...

I am ready to hold it  even one year time.

Time will solve all the problems.

but Crap ekak gaththoth baduma thamai samahara welawata....

mama kiyanne naha hama welema ehema wenawa kiyala. samahara welawata thami

PrasannaMani wrote:Ceylon Finance Today: Thai motorcycle leasing company Group Lease PCL yesterday (03) said that they had acquired a 29.99% or 95.3M share stake of Sri Lanka's listed Commercial Credit and Finance (stock code-COCR) for Rs 10,588,345,500 or Rs 10.5B.
The sellers will be BG Investments, Creation Investments and Stephen L. Lafrance Jr, they said. The selling price per share is Rs 111 and yesterday (3) COCR closed at
Rs 54.10 up Rs 1.40 or 2.66%. Group Lease which is a part of Japan's Wedge Holdings Co now has the right to buy the remaining 70 % in COCR if existing shareholders want to sell the stake, Chairman and Chief Executive Mitsuji Konoshita told an overseas joint news conference.
Commercial Credit and Finance (CCF) has assets of $500M, of which one-fifth is in the microfinance business, and expects a net profit of $22M this year, CCF Chief Executive Roshan S. Egodage said
Listed microfinance company Group Lease (GL) plans to collaborate further with CCF to strengthen its microfinance businesses in Indonesia and Cambodia after GL acquired a microfinance company in Myanmar from a CCF shareholder.
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar, a subsidiary of CCF, from BG International Private, a holding company based in Sri Lanka owned by Roshan S. Egodage, who is also chief executive officer of CCF.
GL chairman and CEO Mitsuji Konoshita said the transaction would be made via GL Holdings (GLH), its holding company in Singapore. Egodage said he decided to sell shares to GL because of strict restrictions by the Sri Lankan authorities on capital outflows. GL's successful digital finance business model will contribute to BG Microfinance's rapid expansion while the GL finance model will be implemented in all other countries where GL operates, especially Indonesia and Cambodia, where there are enormous growth opportunities, he said.
CCF does not have a footprint in Indonesia or Cambodia, so collaboration with GL will provide the Sri Lankan firm scope to broaden its operations, Egodage said. Konoshita said GL was ready to inject $6.8M into BG Microfinance to have branches in 12 districts in Myanmar, up from only three now.
"We hope that BG Microfinance's portfolio will dramatically increase from $30M to $40M next year, and monthly profit should increase by 10 times from the current total," he said. Myanmar is providing a big opportunity for GL as it is an emerging market and only five players including BG Microfinance are there, he said. Furthermore, authorities are not giving out any new microfinance or hire-purchase licences. Therefore, it is a great opportunity for GL to expand its market share.
GL recently announced net profit in the second-quarter of THB 255.85M, raising its total first-half profit to THB 478M.
(IG)

PrasannaMani wrote:http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0



Changes as per GL

Maxime wrote:

PrasannaMani wrote:http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0



Changes as per GL

thanks for clear information,  COCR 74% takeover but mandatory offer still pending because of share holders approval any time this Announcement can come at 111.00

PrasannaMani wrote:
News Detail

Date/Time 01 Nov 2016 17:28:46
Headline Notification of the acquisitions of shares in Companies in Sri Lanka and Myanmar (revised)
Symbol GL
Source GL
Full Detailed News Download Full Detailed News
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0

EquityChamp wrote:For the benefit of all the investors I am publishing a brief financial forecast on Commercial Credit. This is based on last two years financials and Q1 16/17 reported numbers.
 

Rs Mn	2014/15 FY	2015/16 FY	Q1 16/17	2016/17 FY (E)
Net II	7,255	10,225	3,003	12,270
Other operating income	1,030	1,346	219	1,615
Total operating income	8,285	11,571	3,222	13,885
Impairment & other charges	1,426	2,936	663	2,652
Net operating income	6,859	8,635	2,559	11,233
Total operating expenses	3,851	5,124	1,488	6,303
Profit before VAT	3,008	3,511	1,071	4,931
VAT on financial services	372	491	158	690
PBT	2,636	3,020	913	4,240
Tax	442	691	241	1,103
PAT	2,194	2,329	672	3,138
EPS	7.5	7.3	2.1	9.9
Price	50.4	42.5		68.1
PE ratio	6.8	5.8		6.9
Fuure valuation				91.8

As per the above summary, COCR is estimated to report a PAT of Rs3.1 Bn for FY 2016/17 which is an increase of 35% YoY. Only the main issue I can see is a higher value of impairment and security losses that was doubled in 2015/16. Yet I am optimistic that the number will be slightly less this time but depends on the quality of the loan book. Other than that the rest of the numbers seems encouraging for a mid term investor.

Based on the forecasted earning COCR is trading at a forward PE multiple of 6.9x yet to a discount compared to sector PE. If we value the company using historical, sector and market PEs then the applicable price range based on 2016/17 projected earnings to be 62.2-133.2. The average comes to 91.8/-.

Also note that GL has expressed their confidence of COCR making a PAT of Rs3.2 Bn for this year and my forecast comes very close o that.

In conclusion, though the NAV 2/3 below the current price, the current COCR price of 68/- seems to be carrying a good intrinsic value for mid term investor who can hold for couple of months. So my recommendation is that prudent investors should try to buy this stock around current price levels or below should the stock falls further today and tomorrow.

Good luck

EquityChamp wrote:

EquityChamp wrote:For the benefit of all the investors I am publishing a brief financial forecast on Commercial Credit. This is based on last two years financials and Q1 16/17 reported numbers.
 

Rs Mn	2014/15 FY	2015/16 FY	Q1 16/17	2016/17 FY (E)
Net II	7,255	10,225	3,003	12,270
Other operating income	1,030	1,346	219	1,615
Total operating income	8,285	11,571	3,222	13,885
Impairment & other charges	1,426	2,936	663	2,652
Net operating income	6,859	8,635	2,559	11,233
Total operating expenses	3,851	5,124	1,488	6,303
Profit before VAT	3,008	3,511	1,071	4,931
VAT on financial services	372	491	158	690
PBT	2,636	3,020	913	4,240
Tax	442	691	241	1,103
PAT	2,194	2,329	672	3,138
EPS	7.5	7.3	2.1	9.9
Price	50.4	42.5		68.1
PE ratio	6.8	5.8		6.9
Fuure valuation				91.8

As per the above summary, COCR is estimated to report a PAT of Rs3.1 Bn for FY 2016/17 which is an increase of 35% YoY. Only the main issue I can see is a higher value of impairment and security losses that was doubled in 2015/16. Yet I am optimistic that the number will be slightly less this time but depends on the quality of the loan book. Other than that the rest of the numbers seems encouraging for a mid term investor.

Based on the forecasted earning COCR is trading at a forward PE multiple of 6.9x yet to a discount compared to sector PE. If we value the company using historical, sector and market PEs then the applicable price range based on 2016/17 projected earnings to be 62.2-133.2. The average comes to 91.8/-.

Also note that GL has expressed their confidence of COCR making a PAT of Rs3.2 Bn for this year and my forecast comes very close o that.

In conclusion, though the NAV 2/3 below the current price, the current COCR price of 68/- seems to be carrying a good intrinsic value for mid term investor who can hold for couple of months. So my recommendation is that prudent investors should try to buy this stock around current price levels or below should the stock falls further today and tomorrow.

Good luck

As illustrated with this analysis COCR is well on course to earn over 3Bn profit for this year. Q2 PAT of 693Mn and 1H 1367Bn. According to the valuations and growth projections 58/- is about 40% discount to its intrinsic value. A good AA+ investment grade stock when the market is so depressed.

Thanks

stockback wrote:

EquityChamp wrote:

EquityChamp wrote:For the benefit of all the investors I am publishing a brief financial forecast on Commercial Credit. This is based on last two years financials and Q1 16/17 reported numbers.
 

Rs Mn	2014/15 FY	2015/16 FY	Q1 16/17	2016/17 FY (E)
Net II	7,255	10,225	3,003	12,270
Other operating income	1,030	1,346	219	1,615
Total operating income	8,285	11,571	3,222	13,885
Impairment & other charges	1,426	2,936	663	2,652
Net operating income	6,859	8,635	2,559	11,233
Total operating expenses	3,851	5,124	1,488	6,303
Profit before VAT	3,008	3,511	1,071	4,931
VAT on financial services	372	491	158	690
PBT	2,636	3,020	913	4,240
Tax	442	691	241	1,103
PAT	2,194	2,329	672	3,138
EPS	7.5	7.3	2.1	9.9
Price	50.4	42.5		68.1
PE ratio	6.8	5.8		6.9
Fuure valuation				91.8

As per the above summary, COCR is estimated to report a PAT of Rs3.1 Bn for FY 2016/17 which is an increase of 35% YoY. Only the main issue I can see is a higher value of impairment and security losses that was doubled in 2015/16. Yet I am optimistic that the number will be slightly less this time but depends on the quality of the loan book. Other than that the rest of the numbers seems encouraging for a mid term investor.

Based on the forecasted earning COCR is trading at a forward PE multiple of 6.9x yet to a discount compared to sector PE. If we value the company using historical, sector and market PEs then the applicable price range based on 2016/17 projected earnings to be 62.2-133.2. The average comes to 91.8/-.

Also note that GL has expressed their confidence of COCR making a PAT of Rs3.2 Bn for this year and my forecast comes very close o that.

In conclusion, though the NAV 2/3 below the current price, the current COCR price of 68/- seems to be carrying a good intrinsic value for mid term investor who can hold for couple of months. So my recommendation is that prudent investors should try to buy this stock around current price levels or below should the stock falls further today and tomorrow.

Good luck

As illustrated with this analysis COCR is well on course to earn over 3Bn profit for this year. Q2 PAT of 693Mn and 1H 1367Bn. According to the valuations and growth projections 58/- is about 40% discount to its intrinsic value. A good AA+ investment grade stock when the market is so depressed.

Thanks

why director wife sold around 70.  I think that is dirty game.

or maybe some "dodu case"

deal will happen. now Group Lease has issue "Convertible debenture " to buy COCR.

clearly mention it on document. please go through this link and check. from this point selling pressure will go down. buying pressure will build.

http://www.set.or.th/set/newsdetails.do?newsId=14778709831250&language=en&country=US

PrasannaMani wrote:

stockback wrote:

EquityChamp wrote:

EquityChamp wrote:For the benefit of all the investors I am publishing a brief financial forecast on Commercial Credit. This is based on last two years financials and Q1 16/17 reported numbers.
 

Rs Mn	2014/15 FY	2015/16 FY	Q1 16/17	2016/17 FY (E)
Net II	7,255	10,225	3,003	12,270
Other operating income	1,030	1,346	219	1,615
Total operating income	8,285	11,571	3,222	13,885
Impairment & other charges	1,426	2,936	663	2,652
Net operating income	6,859	8,635	2,559	11,233
Total operating expenses	3,851	5,124	1,488	6,303
Profit before VAT	3,008	3,511	1,071	4,931
VAT on financial services	372	491	158	690
PBT	2,636	3,020	913	4,240
Tax	442	691	241	1,103
PAT	2,194	2,329	672	3,138
EPS	7.5	7.3	2.1	9.9
Price	50.4	42.5		68.1
PE ratio	6.8	5.8		6.9
Fuure valuation				91.8

As per the above summary, COCR is estimated to report a PAT of Rs3.1 Bn for FY 2016/17 which is an increase of 35% YoY. Only the main issue I can see is a higher value of impairment and security losses that was doubled in 2015/16. Yet I am optimistic that the number will be slightly less this time but depends on the quality of the loan book. Other than that the rest of the numbers seems encouraging for a mid term investor.

Based on the forecasted earning COCR is trading at a forward PE multiple of 6.9x yet to a discount compared to sector PE. If we value the company using historical, sector and market PEs then the applicable price range based on 2016/17 projected earnings to be 62.2-133.2. The average comes to 91.8/-.

Also note that GL has expressed their confidence of COCR making a PAT of Rs3.2 Bn for this year and my forecast comes very close o that.

In conclusion, though the NAV 2/3 below the current price, the current COCR price of 68/- seems to be carrying a good intrinsic value for mid term investor who can hold for couple of months. So my recommendation is that prudent investors should try to buy this stock around current price levels or below should the stock falls further today and tomorrow.

Good luck

As illustrated with this analysis COCR is well on course to earn over 3Bn profit for this year. Q2 PAT of 693Mn and 1H 1367Bn. According to the valuations and growth projections 58/- is about 40% discount to its intrinsic value. A good AA+ investment grade stock when the market is so depressed.

Thanks

why director wife sold around 70.  I think that is dirty game.

or maybe some "dodu case"

deal will happen. now Group Lease has issue "Convertible debenture " to buy COCR.

clearly mention it on document. please go through this link and check. from this point selling pressure will go down. buying pressure will build.

http://www.set.or.th/set/newsdetails.do?newsId=14778709831250&language=en&country=US

In that link pls refer page 27...

1) Date, Month and Year of the Issuance and Offering of CDs
The Company is going to enter into the Investment Agreement for the Issuance and Offering of
CDs to Creation SL after the approval by the Board of Directors of the Company (the
“Investment Agreement”), under which the Company will issue and offer the CDs to Creation SL
after approval has been granted by the Extraordinary General Meeting of Shareholders No.
2/2016 to be held on 6 December 2016 and after all the conditions precedent in the Investment
Agreement have been fulfilled, including the approval for the Issuance and Offering of CDs is
granted by the SEC. The transaction is expected to be completed within March 2017...




Not that sooner .......isn't it?