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Sri Lanka Equity Forum » Stock Market Talk » Expert Chamber » Exciting RICH

Exciting RICH

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81Exciting RICH - Page 5 Empty Re: Exciting RICH on Mon Jul 11, 2011 3:11 pm

STOCK HUNTER


Senior Equity Analytic
Senior Equity Analytic
Ane manda eka eka news nam enawa

but share eka yannema

DOWn ne Sad

82Exciting RICH - Page 5 Empty Re: Exciting RICH on Mon Jul 11, 2011 3:47 pm

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
These are called "Fairy Tales".. I have heard enough of these.. during my teenage.
Chinwi.. Whats going to happen to the Insurance Company which RICH has been planning to purchase shortly. Looks like someone else had bought it?

83Exciting RICH - Page 5 Empty Re: Exciting RICH on Mon Jul 11, 2011 4:55 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM

84Exciting RICH - Page 5 Empty Re: Exciting RICH on Mon Jul 11, 2011 5:08 pm

kiri


Manager - Equity Analytics
Manager - Equity Analytics
@sapumal wrote:I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM
sorry sapumal.mistakenly i clicked -. tomorrow i will give you 2 +.I'm very sorry.

85Exciting RICH - Page 5 Empty Re: Exciting RICH on Mon Jul 11, 2011 5:18 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@kiri wrote:
@sapumal wrote:I am experiencing one.
I am living in the Citrus dream world

4 star hotel in Waskaduwa , construction supposed to start in 2010 January
4 star hotel in Kalpitiya, construction supposed to start in 2010 January
40 room addition for Hikkaduwa hotel before very next winter ....

Still anything hasn't started.......
All are there as they were. These liars must be killed in next AGM
sorry sapumal.mistakenly i clicked -. tomorrow i will give you 2 +.I'm very sorry.

It is ok buddy. I don't worry about reps. Smile

86Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 6:18 am

Jonathon

Jonathon
Stock Analytic
Stock Analytic
i have lost hope in RICH something is wrong with this share

87Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 8:34 am

Jude

Jude
Stock Analytic
Stock Analytic
RICH is never making me rich Sad

88Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 11:03 pm

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!

89Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 11:12 pm

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance.

I love listening to his fairy tales!!

Acquisition of AAIC has failed to impact the SOFT first day trading prices. Appears to be the most unsuccessful IPO. It appears all the private placement people have traded today. Poor retailers.

SOFT people must have done a great deal to take controlling stake of AAIC and make the announcement to the market. Main reason is to boost the SOFT first day trading. They have allowed VONE to trade before SOFT and purposely delayed the trading i think.

They have failed. Retailers have failed too. I guess SOFT promoters in this forum has nothing to say now.

May be one or two days time they will make an announcement that they have purchased SLIC to at least take the price to Rs. 29/=. SOFT IPO is a kind of a fairy tale too.

90Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 11:13 pm

player

player
Moderator
Moderator
why always ppl talking abt RICH....... Mad
this is just a illiquid shit which need million of shares to just move by cents,
btw guys is this undervalued Question Question
to me there is good counters than this..(as a trader)

note-this is ideal long term share for investors who only look at their stocks once a year,understand the nature of this share,this will move slowly,but liquid nature will pull this back to normal bases Twisted Evil

91Exciting RICH - Page 5 Empty Re: Exciting RICH on Tue Jul 12, 2011 11:58 pm

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!


I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

92Exciting RICH - Page 5 Empty Re: Exciting RICH on Wed Jul 13, 2011 1:12 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@player wrote:why always ppl talking abt RICH....... Mad
this is just a illiquid shit which need million of shares to just move by cents,
btw guys is this undervalued Question Question
to me there is good counters than this..(as a trader)

note-this is ideal long term share for investors who only look at their stocks once a year,understand the nature of this share,this will move slowly,but liquid nature will pull this back to normal bases Twisted Evil

Shares which are not liquid (illiquid) are partly responsible for market downturn. They go up rapidly and come down with the same speed. So illiquids have their own disadvantages.

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
RICH has already established Arpico Insurance Ltd and Arpico Financial Services Ltd on June 22nd and June 27th respectively and likely to exit from AAIC which it controls 25%.

- daily mirror (Mirror Business) 14 -07-2011



Last edited by nkalansu on Thu Jul 14, 2011 6:51 am; edited 1 time in total (Reason for editing : spelling mistakes)

94Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 7:26 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Total number of shares held by RICH group in AAIC is 9.379 Million shares.
If RICH disposes these shares at current market price at Rs. 130/= (assumption) the likely revenue is Rs. 1.2 Billion. It is interesting to know how much of capital gain will be received by RICH if it proceed with this disposal.

Does anybody know since when RICH is holding AAIC?

Can somebody calculate the capital gain if possible?

Are there any smart people/investors in this forum?



Last edited by nkalansu on Thu Jul 14, 2011 7:27 am; edited 1 time in total (Reason for editing : Additional information)

95Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 8:39 am

early


Manager - Equity Analytics
Manager - Equity Analytics
@nkalansu wrote:Total number of shares held by RICH group in AAIC is 9.379 Million shares.
If RICH disposes these shares at current market price at Rs. 130/= (assumption) the likely revenue is Rs. 1.2 Billion. It is interesting to know how much of capital gain will be received by RICH if it proceed with this disposal.

Does anybody know since when RICH is holding AAIC?

Can somebody calculate the capital gain if possible?

Are there any smart people/investors in this forum?
As at 31/03/2010, the group investement in AAIC is 6,250,600 shares. During 2010/11 financial year, further 3,130,212 shares have been acquired making the total 9,380,812 shares. Total value indicated (which should be the investement value) adds upto Rs.266,033,000/-(i.e. 266Mn). As you say, if the co. generates a revenue of 1.2 bn by disposing the shares, they make a capital gain of close to Rs.1.0Bn. I have given the link below:
http://www.arpico.com/assets/anual-reports/Notes%20to%20the%20Financial%20Statements.pdf
Please go through and analyse yourself too.

96Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 8:50 am

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Quibit wrote:Chinwi.,
Dr yaddehiege had missed the opportunity to buy the insurance company.. Which he was supposed to have been in the middle of buying according to your first post.

I am sure he will now go on to set up a new insurance company called Arpico Insurance. you might enjoy our cup of coffee more than the newspaper.

I love listening to his fairy tales!! But it does not excite me anymore!!

Richard Pieris to establish insurance, finance arms

By Jithendra Antonio
http://print.dailymirror.lk/business/127-local/49969-richard-pieris-to-establish-insurance-finance-arms-.html

Richard Pieris company is likely to establish insurance and finance entities, to further harness the post war potential of the country’s financial sector.

In a recent public notice, Richard Pieris (RICH) group’s company secretaries Richard Pieris Group Services said that two new entities have been incorporated, named Arpico Insurance Ltd on June 22 and Arpico Financial Services Ltd on June 27.

The move came in the light of Softlogic Holdings PLC (SHL) announcing that its subsidiary Softlogic Capital was to acquire over 73% stake of Asian Alliance insurance PLC (AAIC) in which Richard Pieris group (RICH) also have a 25%, making it Richard Pieris’s associate insurance arm. Analysts point out that RICH will soon exit from AAIC if it starts operations of Arpico Insurance Ltd, whilst a major portion of Richard Pieris group’s insurance business that was placed at AAIC will now move to Arpico Insurance.   In the lately released annual report of RICH, it was mentioned that the firm has subscribed for the rights issue of Asian Alliance Insurance PLC last year, making an additional investment of Rs.203 million to maintain its associate status in its insurance arm.

Market sources revealed that RICH Chairman Dr. Yaddehige incorporated an insurance arm titled “Arpico Insurance”, after losing the opportunity to buy a controlling stake of Asian Alliance Insurance (AAIC). It is also anticipated that Dr.Yaddehige will soon dispose Richard Pieris’ stake in AAIC.

Chairman Dr. Sena Yaddehige was not available to comment on Richard Pieris’s new move.

97Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 8:54 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Correct.

RICH had total of 6,250,000 shares of AAIC in 2009.
The cost indicated was 62.5 million.
That means they have got it at par value of 10 Rupees. ?
Buy @ 10/- going to sell @ 130 /- !

( RICH annual report 2009 Page 89 Item C)

Later they added 3.1 million @ around 65/- with the cost of about 200 million.

somehow RICH is going to get over 1 billion gain.

98Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 8:56 am

windi5

windi5
Moderator
Moderator
Hmm good money rich gonna make. does any body know the capital gain made by the ACAP though recently concluded share sale/purchase agreement. How long Acap had been the manin share holder for AAIC. How this sale effect on ACAP and what will be the next step of ACAP, acquire another company or invest in other tools.

99Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 9:11 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi guys........(Chinwi and early)

Thanks for your calculations. +points for you two from me.

It appears that RICH is about to receive an capital gain in excess of Rs. 1.0 Billion.

It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors.

100Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 9:14 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.
Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


101Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 9:23 am

early


Manager - Equity Analytics
Manager - Equity Analytics
@nkalansu wrote:Hi guys........(Chinwi and early)

Thanks for your calculations. +points for you two from me.

It appears that RICH is about to receive an capital gain in excess of Rs. 1.0 Billion.

It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors.

Thanks for the +point nkalansu.Happy to have done the analysis.

Cheers.

102Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 9:29 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Thanks nakalansu.

"It may off set any cash shortages due to plantation sector wage hikes i think and expedite expansion of core business sectors. " - good point . thanks.

103Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 9:40 am

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Chinwi wrote:
@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.

Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


Capital gains would be more. Coz RICH is planning to sell AAIC shares at a price above Rs 170/=. But setting up a insurance company according to IBSL regulation requires minimum of Rs750 mn. Also turn insurance company into profit it will take minimum 5 years. It took more than 5 years for AAIC. With the increaed competition from many new companies situation is going to different now.


Also all fires known to be regular occurance at Richard Peiris factories now will have to be born by RICH themselves. If you look at the RICH contribution to AAIC over last 10 years, their claims were more than the premium paid. (genuine company involved in ethical business)

Also when calculating capital gains, you have to take into consideration the profits consolidated during previous years.

104Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 10:16 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Quibit wrote:
@Chinwi wrote:
@nkalansu wrote:
I think companies like RICH are far better than companies like SOFT where they cheat people.

I think RICH is a good stock to buy. It cannot be manipulated since number of shares is large. Also at a very attractive prices. Also is genuine company involved in ethical business practices. Not like some who give PP people share at Rs. 7.20 and rip off general public by offering at Rs. 29/=.

Leaving AAIC to SOFT while getting over 1 billion is the best thing I heard. (if sold actually).
It is good RICH develop its own insurance suited to their tradition .
SOFT got AAIC with cash outflow of 2.4 billion while RICH getting 1.2 billion in. I like that. cash in hand is at best these days.

Both ACAP and RICH are the winners.

As you said people at RICH have no time or need to manipulate. Now I should see the debt-equity situation in SOFT and RICH .. ..


Capital gains would be more. Coz RICH is planning to sell AAIC shares at a price above Rs 170/=. But setting up a insurance company according to IBSL regulation requires minimum of Rs750 mn. Also turn insurance company into profit it will take minimum 5 years. It took more than 5 years for AAIC. With the increaed competition from many new companies situation is going to different now.


Also all fires known to be regular occurance at Richard Peiris factories now will have to be born by RICH themselves. If you look at the RICH contribution to AAIC over last 10 years, their claims were more than the premium paid. (genuine company involved in ethical business)

Also when calculating capital gains, you have to take into consideration the profits consolidated during previous years.


Having cash is important at this point. Rs. 1.2 Bn is a big amount.

The best thing RICH should do is wait till the market gets in to positive territory and get a best price.

RICH must have planned to sell AAIC at Rs. 170/= since they were not in a hurry to sell I think. SOFT on the other hand had their deadlines...... I think they did allow VONE to be traded before SOFT so that they could make the announcement to the market in order to improve prices in the first day trading. But it failed.

Soft lost investor confidence, soft lost reputation and they lost cash too by buying AAIC. I think the IPO funds will surely go for this acquisition. What were they planning to do with the IPO funds as disclosed in the prospectus? Purchase AAIC?

Please provide information that prove to us that the premium paid by RICH to AAIC is higher than the claims made by them. That we like to know.

It appears that RICH group has given big contracts to AAIC. They are about to lose it now.



Last edited by nkalansu on Thu Jul 14, 2011 11:21 am; edited 2 times in total (Reason for editing : Removed inappropriate words)

105Exciting RICH - Page 5 Empty Re: Exciting RICH on Thu Jul 14, 2011 10:50 am

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
interesting comment about Richiard Pieris and factory fires

a quick google search turned up 3 fires over the past 5 years (damages may have been around 350 million)
1)a non operational factory owned by Arpico Natural Foam burnt down in 2007
http://vanguard1.vanguardlk.com/lbo/fullstory.php?nid=240051681
2) factory building belonging to Arpico Industrial Development Company destroyed in 2006
http://sundaytimes.lk/061105/FinancialTimes/ft13.3.html
3)foam rubber factory owned by Richard Piris Natural Foam extensively damaged in 2005
http://www.island.lk/2005/01/30/business17.html

they say their mattresses are fire retardent maybe they need to make their factories fire retardent as well. at least no fires in the recent past.

Note that i'm just pointing out the reccurrence of fires in RP factories, i don't want to get into a discussion about the pros and cons of the share

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