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Sri Lanka Equity Forum » Stock Market Talk » LOLC HOLDINGS PLC (LOLC.N0000)

LOLC HOLDINGS PLC (LOLC.N0000)

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161LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sat Dec 28, 2019 12:38 pm

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics
[size=48]Korean bank to buy control of LOLC’s Cambodian microfinance arm for $ 603.4 m

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Comments / LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 V-icon4  283 Views / Saturday, 28 December 2019 00:04

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[/size]




  • Korea Herald reports KB Kookmin as saying will close the deal within 3 months, after due diligence and approval from financial authorities in Korea and Cambodia
  • No full disclosure yet for Rs. 108.5 b impending deal by LOLC but share price soars
  • No. 1 microfinance deposit-taking institution in Cambodia offers ROE and ROA of 28.40% and 3.64%, respectively
  • Generated Rs. 13.7 b profit in FY19
  • Has portfolio of $ 2.2 billion, deposit base of $ 1.5 billion and makes significant PBT contribution to LOLC Group’s bottom line


 
[size=17]LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Image_1c769f323b A Korean bank is to buy LOLC’s Cambodian microfinance arm for a staggering $ 603.4 million or Rs. 108.5 billion, subject to regulatory approval.

The Korean firm is KB Kookmin Bank, which said its Board has agreed to buy 70% stake in Cambodia’s PRASAC Microfinance Institution for $ 603.4 million from LOLC.

PRASAC Microfinance is the No. 1 microfinance deposit-taking institution, taking up over 40% of market share in Cambodia with 177 branches.

A report in Korea Herald stated that KB Kookmin will close the deal within three months, after due diligence and approval from financial authorities in Korea and Cambodia.

The deal is expected to allow KB Kookmin to consolidate its consumer banking network in the Southeast Asian nation. Operating six bank branches, KB Kookmin earned preapproval in Cambodia for the acquisition in May. KB Kookmin said it plans to buy the remaining 30% stake in the institution at least two years after the transaction.

PRASAC Microfinance logged a KRW 91.5 billion ($78.7 million) net profit in 2018, up 36.7% on-year, according to KB Financial Group’s regulatory filing.

Investors, apparently seeing new found value and demand, yesterday pushed LOLC shares to third highest gainer, percentage wise. 

LOLC closed at Rs. 145.70, up by Rs. 16.70 (or 13%) whilst it hit an intra-day high of Rs. 148.90. Little over a one million shares changed hands via 1,217 trades for Rs. 149.3 million with bulk of the selling coming from foreign investors. For the week, LOLC gained by Rs. 19 or 15%.

Despite media reports of impending sale as revealed by LOLC Deputy Chairman Ishara Nanayakkara in a Bloomberg interview, LOLC has been less revealing officially.

Following the publication of Bloomberg article in FT, in a filing to the CSE on 12 December, LOLC said upon certain parties indicating their interest in acquiring a stake in PRASAC Microfinance, Cambodia, LOLC has been in the process of exploring possibilities of a sale of whole or part of its holding. In any event, the sale will require prior approval of National Bank of Cambodia.

LOLC Group MD and CEO Kapila Jayawardena said no finality has been reached with regard to the execution of any such transaction. “An announcement will be made to the Exchange if it culminates in a conclusive transaction,” he added. A similar stance was maintained in a fresh disclosure yesterday. 

The report in Korea Herald was published on Thursday (26 December).

The Cambodian operations are part of LOLC’s strategic and profitable diversification in the Southeast Asian region. 

The regional expansion of the Group has delivered extremely strong results in diversifying and balancing the exposure LOLC has in the local market. To this effect, 85% of LOLC pre-tax profit is currently derived from investments in Cambodia, Myanmar, Pakistan, Indonesia and Philippines. 

This growth momentum is evident from the LOLC Group’s maiden overseas investment in PRASAC, which has grown to become the largest microfinance institution in the dollarised Cambodian economy. With an ROE and ROA of 28.40% and 3.64%, respectively, a portfolio of $ 2.2 billion, a deposit base of $ 1.5 billion, and a significant profit before tax contribution to the Group’s bottom line, PRASAC offers substantial return on investment in dollar terms through the Group’s 70% holding in the Company. It has a customer base of over 400,000.

Although a relatively new entrant to the Cambodian MFI performers, LOLC Cambodia (LOCAM) has now positioned itself as the most profitable MFI in Cambodia with an ROE of 27.90%, ROA of 4.10%, the fourth largest portfolio and deposit base of $ 564 million and $ 286 million, respectively. 

In less than five years since LOLC’s investment, LOCAM has risen up the ladder in the Cambodia microfinance landscape to be the third most profitable MFI in the country.

PRASAC Microfinance Institution in Cambodia and LOLC Cambodia, stands out as the two largest foreign investments made by LOLC and contributes together 40% to the Group’s top line. PRASAC generated a profit of Rs. 13.7 billion in FY19 while LOLC Cambodia recorded a profit Rs. 3.8 billion.

LOLC also has presence in Myanmar – LOLC Myanmar Microfinance Company Ltd., a Greenfield operation, has grown to be counted as the third-largest among 176 microfinance institutions in the country, with an asset base of $ 52.4 million, portfolio of $ 39.5 million and PBT of $ 2 million within five years of commencing operations in Myanmar. 

The Company has now gained attention from prominent global investors due to its unique business model reflected through the quality portfolio and the growth potential in store with the liberalisation of the Myanmar market.

Extending its microfinance expertise, LOLC also has operations in Indonesia and the Philippines. 

LOLC’s foreign investments in financial services sector account for Rs. 593 billion as total assets in the books of LOLC and have contributed a Profit After Tax of Rs. 17.9 billion to the Group for the year ended 31 March 2019. The lending portfolio of the foreign businesses amounts to Rs. 497 billion with a deposit base of Rs. 311 billion. 

LOLC in its FY19 Annual Report stated that it was a matter of pride that the Group’s overseas expansion has been undertaken purely on the strength of the financial services excellence and knowhow coupled with IT expertise which it exports to its overseas operations.

 
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162LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sat Dec 28, 2019 12:41 pm

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics
After reading on LOLC, it has a great value than we expect. I do not know the price of the share but it must move up with these profit making investments.

Good luck. 
Short time it will move above 200 soon.

It will move up more higher than we hope in future.

163LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sat Dec 28, 2019 12:44 pm

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics
You are correct. LOLC, LOFC, CLC all must move up.

If this deal happens, whole amount comes under LOLC. AS a group all together must move up.

Let's see the game!!!!

164LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sat Dec 28, 2019 12:53 pm

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics
[size=30]KB Kookmin Bank to acquire Cambodian lender for $603.4m
By Son Ji-hyoung
[/size]

  • Published : Dec 26, 2019 - 18:08
  • Updated : Dec 26, 2019 - 18:08
  • LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_sizeDown LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_sizeUp LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_facebook LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_twitter LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_mailSend LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Btn_print



South Korea’s commercial lender KB Kookmin Bank said Thursday its board has agreed to acquire a 70 percent stake in Cambodia’s lender Prasac Microfinance Institution for $603.4 million from Sri Lanka-based nonbanking lender LOLC Holdings.

Prasac Microfinance is the No. 1 microfinance deposit-taking institution, taking up over 40 percent of market share in Cambodia with 177 branches.

LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 20191226000606_0
[size]
KB Kookmin will close the deal within three months, after a due diligence and approval from financial authorities in Korea and Cambodia.

The deal is expected to allow KB Kookmin to consolidate its consumer banking network in the Southeast Asian nation. Operating six bank branches, KB Kookmin earned preapproval in Cambodia for the acquisition in May.

KB Kookmin said it plans to buy the remaining 30 percent stake in the institution at least two years after the transaction.

Prasac Microfinance logged a 91.5 billion won ($78.7 million) net profit in 2018, up 36.7 percent on-year, according to KB Financial Group’s regulatory filing.[/size]

165LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sat Dec 28, 2019 12:57 pm

wisdom79


Vice President - Equity Analytics
Vice President - Equity Analytics
Everything is going to be ok. If you buy LOLC, hold it until the deal finishes. A huge amount of money and naturally share price must move up.

I think this will be a great chance to win your loss games.

Next week, we can see its reality.....!!!!

This will really benefit only LOLC not LOFC.........!!!!

Good luck!!!!

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
Dollar million 603.400 is a huge amount of money is coming into LOLC. 

That means share price move up more and more.

Deal is sure to happen.

With a few days you will see the confirmation note.


Highest price is 1600/-

So we can hope a good profit from LOLC.

Good luck!!!!!

167LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sun Dec 29, 2019 8:37 pm

engineer


Senior Equity Analytic
Senior Equity Analytic
Anyone has an idea why the share dropped from 1600 to 115 within one month back in 2010

168LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Sun Dec 29, 2019 8:42 pm

KavinduTM

KavinduTM
Vice President - Equity Analytics
Vice President - Equity Analytics
sub division i guess

at least 1:10  Shocked

169LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 11:23 am

Gajaya


Equity Analytic
Equity Analytic
@engineer wrote:Anyone has an idea why the share dropped from 1600 to 115 within one month back in 2010
Damn  What a Face Shocked

170LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 11:31 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
They are getting USD 600 mn vs investment of USD 150 mn in PRAASAC. Diluting 70% stake of LOLC.
This is a massive deal. Very good price. 8 times of annual profit of PRAASAC.

171LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 11:36 am

Beta1

Beta1
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Gajaya wrote:
@engineer wrote:Anyone has an idea why the share dropped from 1600 to 115 within one month back in 2010
Damn  What a Face Shocked


share split 1 to 10

172LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 11:45 am

Invest2018


Senior Equity Analytic
Senior Equity Analytic
108 billion rupees means LOLC will get nearly Rs 225 per share in cash. How about that👌👌👌

173LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 1:15 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
I bought at 120 and now sold with a profit!!!!!

174LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 1:29 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@wisdom79 wrote:I bought at 120 and now sold with a profit!!!!!
Why didn't you  wait till it goes to 200/= as you said in your earlier post? GL

175LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 2:06 pm

Intrinsicvalue


Equity Analytic
Equity Analytic
seems LOLC is gonna fly to 300 to 600 levels..
at the moment huge buying pressure and no one is selling.. all cleared   Very Happy Very Happy Very Happy

176LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 2:38 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
I sold because I had a good profit.

177LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 2:43 pm

Invest2018


Senior Equity Analytic
Senior Equity Analytic
250 is for sure. Best case may be 300

178LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 2:43 pm

Invest2018


Senior Equity Analytic
Senior Equity Analytic
250 is for sure. Best case may be 300

179LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 2:52 pm

Intrinsicvalue


Equity Analytic
Equity Analytic
actually according to my calculations using EPS and growth rate LOLC share is worth around Rs. 312 
Anyway after the deal with Cambodian company LOLC will receive a huge profit and a huge cash inflow. This would result in further increase of EPS. Therefore share value must pass Rs. 300 benchmark sooner and possibly even further after the deal.

180LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 5:33 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
Tomorrow it will pass above 200?

Theory of the market is,if there i a profit, put it into your pocket and buy back!!!!

Normally ashare will not continue moving up for 3 days.

So we have to see tomorrow.

181LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Dec 30, 2019 8:00 pm

Winner123


Manager - Equity Analytics
Manager - Equity Analytics
200 up for sure

kalu351


Manager - Equity Analytics
Manager - Equity Analytics
මැතිව්ස් ෆන්ඩ් එක මිලඉයන 18 විකුණන්න හොයන නිසා - නියම විදිහට මිල ඉහල යාමක් වෙන එකක් නැ - එ කට්ටියගේ මිලයන 18 ම විකිණෙන කම් මන් හිතන්නේ  හිතපු මිල ඉහල යාම් වෙන එකක් නැ  වගේ - පරිස්ස්ම කොහොමත් හොදයි 

Since Mathews fund is looking to sell 18 Million LOLC may come down fast 

Be careful now

183LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Mon Jan 06, 2020 10:52 am

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Wonder whether this entire LOLC deal is to manipulate the market by some insiders connected with the majority shareholders., LOLC officially said that money is not coming to sri lanka? Where is it going! Will LOLC shareholders ever benefit from this deal? LOLC has never paid a dividend to its shares holders in the past!!

Ishara Nanyakkara will be the richest guy on books but he has not brought his wealth to Sri Lanka. Shareholders only change hand shares and insiders traders and from runners will immensely benefit from this at the expense of small shareholders which we need to protect in this forum.

SEC should investigate all transactions of LOLC.

184LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Tue Jan 14, 2020 1:36 pm

KavinduTM

KavinduTM
Vice President - Equity Analytics
Vice President - Equity Analytics
Technically LOLC will further go up. Good to buy now

However this depends with the deal. idk anything about it. however LOLC will further move up only if that deal is valid and money coming in.

185LOLC HOLDINGS PLC (LOLC.N0000) - Page 9 Empty Re: LOLC HOLDINGS PLC (LOLC.N0000) on Wed Jan 15, 2020 9:54 am

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
LOLC deal is certain. Only one approval from Cambodian Central Bank - that is just formal.

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