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Beware: Hunas Holdings PLC one of the most overvalued stock

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God Father

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Beware: Hunas Holdings PLC one of the most overvalued stock Scree206

Hunas Holdings PLC (HUNA.N0000) is one of the most overvalued stocks in the Colombo Stock Market. Beware and study the latest financial statements and valuation of the company before investing.
- Net Asset Value per share (NAVPS) is LKR 5.33 and Market Price (MP) was LKR 30/= per share.
- Total Assets of the group is around LKR 7.2bn whilst the market capitlization exceeds LK 25bn.
- Trading at around 6X times of the Book Value (BV).
- Loss per share is LKR 0.19 and total losses for quarter ended Sep 2022 exceeds LKR 113mn.
-Japanese Investor Y. WATANABE and Gain Focus Ltd become shareholders.
- Highly inflated due to massive 150:1 subdivision of shares and subsequent price manipulation.
- Trading suspended by CSE due to non submission of Annual Accounts


About the company
Hunas Holdings PLC owns and operates Hunas Falls Hotel at Elkaduwa, which is targeted at the up-market leisure traveler. The Company’s Hunas Falls Hotel consists of approximately 28 deluxe rooms, cardamom suite and approximately two theme suites. Company was recently renamed as Hunas Holdings PLC and currently engages in the ownership and operation of hotels.

Latest Published Accounts
Beware: Hunas Holdings PLC one of the most overvalued stock Scree207
Beware: Hunas Holdings PLC one of the most overvalued stock Scree208

https://cdn.cse.lk/cmt/upload_report_file/546_1669023227213.pdf

Trading Suspension

Beware: Hunas Holdings PLC one of the most overvalued stock Scree209

Sub division of shares
Beware: Hunas Holdings PLC one of the most overvalued stock Scree216

Beware: Hunas Holdings PLC one of the most overvalued stock Scree219

Related party transactions
Directors sell shares of the company prior to the suspension notice was issued on 30th August being well aware that company will not comply with the notice to submit annual accounts which will lead to its ultimate suspension in 8th December 2022.

Beware: Hunas Holdings PLC one of the most overvalued stock Scree217
Beware: Hunas Holdings PLC one of the most overvalued stock Scree218

Recent Major share transactions
Purchase of HUNAS HOLDINGS shares by Y. Watanabe and Gain Focus Limited at pre subdivision price of LKR 40 despite the massive sub division of in April 2022 which resulted in a major dilution of share value. Shares were sold by the majority shareholder Serenity Lake Leisure (pvt) Limited.

Purchase by Y Watanabe

Beware: Hunas Holdings PLC one of the most overvalued stock Scree210

Beware: Hunas Holdings PLC one of the most overvalued stock Scree211

Purchase by Gain Focus Limited (Foreign Buyer)
Beware: Hunas Holdings PLC one of the most overvalued stock Scree213
Beware: Hunas Holdings PLC one of the most overvalued stock Scree214

Unusual Trading Activity
Beware: Hunas Holdings PLC one of the most overvalued stock Scree212

Major Shareholders
Top Shareholder as at 30th September 2022. This list does not indicate the shares recently purchased by Gain Focus Ltd on the 30th September and 17th November 2022.

Beware: Hunas Holdings PLC one of the most overvalued stock Scree215
Attachments
Beware: Hunas Holdings PLC one of the most overvalued stock AttachmentHUNAS HOLDINGS PLC.pdf
December 2022
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