Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum
Poll

SLEF Market Sentiment Indicator

73% 73% [ 1129 ]
27% 27% [ 410 ]

Total Votes : 1539

Responsible Care



Latest topics
» Sri Lanka’s real estate bubble likely to explode in five years
by Quibit Today at 8:26 pm

» The AINV’S Potentials
by Miss-Sangeetha Today at 7:48 pm

» Policy Decision
by kumarweerarathne Today at 6:48 pm

» Sri Lanka: Bond Manipulator Shady Businessman Arjun Aloysius's Bond Deals financed Newspaper 'Janayugaya' to hit the market by April 2017
by MalcolmTurnbull Today at 6:01 pm

» Teller, The Great Manipulator Of HEXP
by Miss-Sangeetha Today at 2:21 pm

» Sri Lankan Capital Market To Woo Investors From Australia And New Zealand
by jayathu Today at 11:50 am

» Sri Lanka: 'Unfit & Improper' for Banking Sector - NSB Director - CIMA Regional Director Bradley Emerson to be investigated by Good Governance Activists, and CIMA UK for Mismanagement and Dating with CIMA Money
by MalcolmTurnbull Yesterday at 8:50 pm

» AFSL update...
by fortuneteller Yesterday at 8:12 pm

» Buying companies solely because their market price has fallen will get you nowhere.
by soileconomy Yesterday at 3:41 pm

» KNOW YOUR POLITICIANS (KYP)
by worthiness Yesterday at 2:38 pm

» Sri Lanka and its cheap labor pool - Japanese Report
by MalcolmTurnbull Sat Mar 25, 2017 10:09 pm

» Sri Lanka: Deficits in the economic policy?
by MalcolmTurnbull Sat Mar 25, 2017 9:57 pm

» Foreigners are buying shares
by niru Sat Mar 25, 2017 9:00 pm

» Stock Recomendations For Bargain Hunters
by Vinayak Mahadev Sat Mar 25, 2017 3:24 pm

» Shares VS Fixed Desposit
by Vinayak Mahadev Sat Mar 25, 2017 3:17 pm

» Fresh buying into market !!!
by Maharaja Sat Mar 25, 2017 7:41 am

» Johari: M'sia won't end up like Sri Lanka, won't lease properties to China
by stockback Fri Mar 24, 2017 7:23 pm

» Sri Lanka: LOLC Ishara Nanayakkara's Father Ishara Traders - LOLC Chairman Rajah Mahinda Nanayakkara Passes Away
by MalcolmTurnbull Fri Mar 24, 2017 4:23 pm

» Sri Lanka: Unit Trust Industry to Close Down the Shops after government increased Taxes
by MalcolmTurnbull Fri Mar 24, 2017 4:19 pm

» Ceylon Cold Stores (CCS) Next Share Split at Rs.1000/= per share
by MalcolmTurnbull Fri Mar 24, 2017 4:17 pm

» Navara Capital Group In Trouble - Harsha N. De Silva to sell all his companies as So Many of His Shady Deals involved
by MalcolmTurnbull Fri Mar 24, 2017 4:08 pm

» Sri Lanka's famous Chef Pabilis Silva's Grandson Chathura Silva's Degree at USJ to be investigated and put for Bribery and Corruption by 'Yahapalana' Regime
by MalcolmTurnbull Fri Mar 24, 2017 3:36 pm

» Former SEC Chairman Dr. Nalaka Godahewa on 'Thilak's Reinvention of the Wheel'
by Varshaa Selvanathan Fri Mar 24, 2017 2:54 pm

» INTRODUCING KALKUDAH DISTILLERIES
by samaritan Fri Mar 24, 2017 2:20 pm

» Last hurdle is cleared for the CSE to move upwards.
by Learner19 Fri Mar 24, 2017 1:20 pm

» THE PLAN OF THE YAHAPALANAYA GOVERNMENT 2020
by worthiness Fri Mar 24, 2017 1:17 pm

» තවත් පට්ටපල් බොරු කාරයො දෙන්නෙක්…
by kalu_mahaththaya Fri Mar 24, 2017 12:42 pm

» රට හැර යන්නේ ඩොලර් පමනක් නොවේ
by worthiness Fri Mar 24, 2017 11:35 am

» IT IS CLEAR NOW,, SHARE PRICES ARE NOT DEPEND ON COMPANIES PERFORMANCE
by worthiness Fri Mar 24, 2017 11:26 am

» Good News - Pc Pharma back again to the marcket
by Neluka Karannagoda Fri Mar 24, 2017 10:44 am

» Monetary Policy Review March 2017 - Rates Incresed
by dul324 Fri Mar 24, 2017 8:10 am

» ASI GOING TOWARDS 6000
by nimantha80 Fri Mar 24, 2017 7:35 am

» සුද්දන් රටටම කොචොක් කරයි....
by kalu_mahaththaya Thu Mar 23, 2017 5:25 pm

» ඇන්ටනෝව් යානා ගුවනේ දී පිපිරවූ කොටියා සහ විමල් වීරවංශ
by nimantha80 Thu Mar 23, 2017 4:53 pm

» WHERE IS THE COUNTRY GOING?
by Lucky Gamage Thu Mar 23, 2017 4:50 pm

» Positive and Negative comments welcome
by jayathu Thu Mar 23, 2017 11:49 am

» No need to sell Alumex Under 19....Don't sell ...
by asitha1952 Thu Mar 23, 2017 11:45 am

» HNB Bank money robbery spread to SAMPATH..ANOTHER CHEATING BANK SAMPATH.....
by jayathu Thu Mar 23, 2017 10:35 am

» ALUM Should reach to 22 levels..before next report..
by asitha1952 Thu Mar 23, 2017 9:36 am

» Get ready for April rise...
by kalu_mahaththaya Thu Mar 23, 2017 8:37 am

» JKH Prices dropped to 2009 Prices...
by jayathu Wed Mar 22, 2017 2:06 pm

» Ravi to receive Asia Pacific’s best Finance Minister Award on Friday
by Eugine Fernando Wed Mar 22, 2017 1:19 pm

» ANOTHER CSE BAILA..................
by samaritan Wed Mar 22, 2017 12:11 pm

» STATE CORPORATIONS ARE DOING WELL UNDER YAHAPALANAYA
by jayathu Wed Mar 22, 2017 11:47 am

» SITE IMAGE CHANGED...?
by kalu_mahaththaya Wed Mar 22, 2017 11:23 am

» KO BAN ARA MARKET EKE SUPPROTING LEVEL HOYANA UN TIKA????
by Lucky Gamage Wed Mar 22, 2017 10:55 am

» Rate hike is likely
by plsp1 Wed Mar 22, 2017 10:47 am

» Hyatt, Grand Oriental Hotel, Waters Edge, Hilton and Lanka Hospitals to be listed
by jayathu Wed Mar 22, 2017 7:54 am

» Rest in peace
by Lucky Gamage Tue Mar 21, 2017 2:23 pm

» Sri Lanka meets eligibility criteria for GSP Plus, says EU technical report
by Mubin Mustafa Tue Mar 21, 2017 11:30 am

» What happend Sri Ranga????
by Chinwi Sun Mar 19, 2017 12:25 am

» End or the Begining of Nimal Perera?
by Quibit Fri Mar 17, 2017 8:59 pm

» Sri Lanka: Young Bond King Arjun Aloysius' Media Company iMN (Integrated Media Network) in Search of Journalists
by samaritan Fri Mar 17, 2017 7:39 pm

» Sri Lanka: State Defence Minister Ruwan quits his father's Board at LPRT but to continue to be the second largest shareholder
by Varshaa Selvanathan Fri Mar 17, 2017 3:25 pm

» BFN - BUY Signal !!!!!!!!!!!!!!!!!!!
by reader Fri Mar 17, 2017 1:08 pm

» VFIN target price -- Rs 80.00 within 2 months
by Wimal Modawansa Fri Mar 17, 2017 11:15 am

» PLC.N & GLASS.N
by Wimal Modawansa Fri Mar 17, 2017 11:13 am

» ARPICO INSURANCE - BUY
by Wimal Modawansa Fri Mar 17, 2017 11:11 am

» AUTODROME PLC DEALINGS BY DIRECTORS
by visvajith Fri Mar 17, 2017 10:14 am

» Maritime terrorism an emerging threat in Indian Ocean, says Sri Lanka PM Ranil Wickremesinghe
by Yahapalanaya Fri Mar 17, 2017 9:29 am

» They say Ratmalana to become 3rd Int Airport
by Chinwi Fri Mar 17, 2017 8:17 am

» TO DIMANTHA MATHEW --> SO CALLED RESEARCH EXPERT
by soileconomy Fri Mar 17, 2017 6:55 am

» ඩෙංගු වසංගතය පැතිරේ - සටන කරන හැටී හරිද ?
by Chinwi Fri Mar 17, 2017 12:20 am

» NAMU - HIGHLY POTENTIAL STOCK
by bullstreet Thu Mar 16, 2017 7:20 pm

» Technical bounce now
by samaritan Thu Mar 16, 2017 5:40 pm

» PENDING PROPERTY BUBBLE BURST!
by jayathu Thu Mar 16, 2017 11:02 am

» RWSL, LOFC , AAF
by stockback Thu Mar 16, 2017 10:05 am

» Royal - Thomian
by Eugine Fernando Thu Mar 16, 2017 9:16 am

» Dividend issue before 01st April
by kks17 Thu Mar 16, 2017 6:09 am

» REXP REXP.
by kassachandimal Wed Mar 15, 2017 6:34 pm

» Be carefully your shares of cse
by D.G.Dayaratne Wed Mar 15, 2017 3:57 pm

» 13.03.2017 - Chart expect Double bottom
by dudi Wed Mar 15, 2017 3:33 pm

» GSP + concession
by plsp1 Wed Mar 15, 2017 12:50 pm

» Can Government go ahead with these type of ignorance?
by hettdas Wed Mar 15, 2017 10:09 am

» AINS ..........DEAL
by sureshot Tue Mar 14, 2017 6:31 pm

» What is Bitcoin and other cryptocurrency's legality in Sri Lanka.
by anjelo Tue Mar 14, 2017 12:35 pm

» last few years Budgets.
by samaritan Tue Mar 14, 2017 9:43 am

» Three large European funds visit CSE
by Equity King Tue Mar 14, 2017 8:38 am

» HEXP high divided on the way.
by Miss-Sangeetha Tue Mar 14, 2017 8:21 am

» MRP of chicken withdrawn
by TuTanKaman Tue Mar 14, 2017 7:11 am

» SAMP 17 rs announcement ahead..feb
by worthiness Mon Mar 13, 2017 7:40 pm

» CEYLON COLD STORES PLC(CCS.N0000)
by rosa maria Mon Mar 13, 2017 7:20 pm

» Teller please comes back to the forum
by Miss-Sangeetha Mon Mar 13, 2017 12:57 pm

» Banks Rights Issues has started
by jayathu Mon Mar 13, 2017 8:29 am

» මහින්ද මොනවද කලේ?
by DANIDU Sun Mar 12, 2017 9:10 pm

» Good news for market
by worthiness Sun Mar 12, 2017 2:20 pm

» Top gainers - 13.03.2017
by Harry82 Sun Mar 12, 2017 12:56 pm

» Obtain Real/Fake Passports,IDs,Drivers Licenses,IELTS/TOEFL etc
by Chinwi Sun Mar 12, 2017 5:31 am

» FED DECISION ON COMING WEDNESDAY
by worthiness Sat Mar 11, 2017 9:11 pm

» එදා ලෝකයේ පලමුවැනියා වූ කොළඹ කොටස් වෙළෙඳපොළ අද කලාපයේ අන්තිමයා..- රොයිටර් ලෝකයටම කියයි..
by ranferdi Sat Mar 11, 2017 7:57 pm

» CSE RULES OF COMPANY ANNOUNCEMENTS.
by Eugine Fernando Sat Mar 11, 2017 11:42 am

» CCS next gem
by sikka89 Fri Mar 10, 2017 8:20 pm

» GOOD NEWS. March decline and April Rising in CSE from 2013
by Thushara Ayya Fri Mar 10, 2017 8:02 pm

» SLPA EARNED 11B IN 2016
by Yahapalanaya Fri Mar 10, 2017 6:10 pm

» nordmachinelanka
by tharushir Fri Mar 10, 2017 2:28 pm

» RHL - WHAT'S COOKING?
by jayathu Fri Mar 10, 2017 9:07 am

» AINV ???????
by Eugine Fernando Fri Mar 10, 2017 8:53 am

» CCS Moving at Staggering Pace
by Agape Thu Mar 09, 2017 2:04 pm

» 'බෙදුම්කර​' රහස් තවත් හෙලිවේ
by worthiness Wed Mar 08, 2017 9:17 pm


Touchwood Case Review

Page 1 of 16 1, 2, 3 ... 8 ... 16  Next

View previous topic View next topic Go down

Touchwood Case Review

Post by seyon on Tue May 24, 2011 4:07 pm

Unofficial information that the expected Touchwood case against Sri Lanka Accounting and Auditing Standards Monitoring Board(SLAASMB) next hearing will be on 26th May 2011. Yes everyone looking the favorable outcome. Today, there are rumors that outcome will be favorable to the company and some brokers recommend to buy at current price. I could see some collection (about 820,000 shares) was made @ 23.60 levels.

I just did some research on the Touchwood Case. It looks like decision will be favorable to company. (This is not a promotion, just merely to getting your views. To be honest I do not have TWOD shares at the moment.)

We all know about the case related to the valuation of biological assets. I extracted some facts from SLAASMB website of case information to start from beginning.

The Sri Lanka Accounting and Auditing Standards Monitoring Board has determined that the estimates of fair value of biological assets used by Touchwood Investments Limited in its financial statements for the years ended 31 March 2005 and 31 March 2006 are clearly unreliable. The Company has also not been able to provide the Board with any other estimates which are reliable. Further, the method of valuation used for the year ended 31 March 2005 was not in accordance with International Accounting Standard, IAS 41 Agriculture, which the company has purportedly adopted.

As the company has purportedly adopted International Accounting Standard, IAS 41 Agriculture, the Board has concluded that the biological assets should have been valued at a value which approximates cost in accordance with paragraph 24 (b) of IAS 41 or at cost less accumulated impairment in accordance with paragraph 30 of IAS 41. Based on such valuation the company would not show a net profit for the relevant financial periods.

As the impact on the financial statements is substantial the Board has decided to refer the non-compliance to the Attorney General. The Board has also decided to investigate the compliance with auditing standards by the auditors in relation to the audit of the financial statements of the Company.

Based on the above information I can see in the absence of Sri Lanka Accounting Standards, company uses International Accounting Standards 41, Agriculture for the valuation of biological assets. But SLAASMB argument is that estimates of fair value of the biological assets in not accordance with IAS 41 and the financial statements are unreliable.

Further I have received BASL News Letter (Bar Association) of December 2010, there talked about some legal judgment (I attached the newsletter in our research forum http://research.srilankaequity.com/t96-touchwood-case-basl-bar-association-news-letter-judgement-views , refer page 4 for the Touchwood case). There they briefed about the case and given their views. Based on that, Board had not statutory power to challenge the valuation of the Petitioner on non compliance with IAS 41.

Further company received the Certificate of Compliance by the Institute of Chartered Accountants of Sri Lanka for the Annual Report Awards 2010. This certificates covers the CSR, Financial, Presentation and Compliance. Therefore, this reveals that the company practice in valuing biological assets in accordance with IAS 41 as the certificated awarded by ICASL which is the statutory for setting the Accounting Standards

Followings extract from Touchwood website

Certificate Of Compliance

January 24th 2011

We are proud to announce that our Sri Lankan office, Touchwood Investments PLC has been awarded the “CERTIFICATE OF COMPLIANCE” by the Institute of Chartered Accountants of Sri Lanka for the Annual Report Awards 2010 - at the ceremony held on 7th December 2010.

This award is granted by the Inst. of Chartered Accountants of Sri Lanka every year. They evaluate and grant awards in key areas such as - CSR, Financials, presentation, compliance, etc.

This certificate emphasizes that all requirements are being met in order for us to achieve our goals and serve our investors with industry leading standards.

For the year to come Touchwood Investments PLC has its goals set on the CSR awards to be handed out in the 2011 ceremony.

Thank you to all our accounting and administration staff who made the award possible.

http://www.touchwood.com/news/certificate-compliance

So Guys, Based on the above information and facts, to me the decision would be favorable to company. How do you all look into that..

Pls Share ur thoughts and views

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by Slstock on Tue May 24, 2011 4:27 pm


Thank you Seyon for reminding on a long forgotten share due to this court case. rep from me.

Last year there was lot of interest in this but due to postponement of court cases on multiple times the interest died. I remember buying this for around Rs 26 last august and then later disposing it over Rs 30+. There was lot of intrest in the Rs 30.

The rumor is they might win it but the issue is will the case get postponed again. If so this can get stagant again most likely.

In the financial, one issue we should look at further is whether their gains are now actually more cash or whether they are revaluation gains. I see many opponents and proponents with this company. But I think this current price is attractive.

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.

avatar
Slstock
Director - Equity Analytics
Director - Equity Analytics

Posts : 6628
Equity Stars : 10807
Reputation : 1158
Join date : 2011-01-22

Back to top Go down

Re: Touchwood Case Review

Post by StocksWatch on Tue May 24, 2011 4:50 pm

@slstock wrote:
Thank you Seyon for reminding on a long forgotten share due to this court case. rep from me.

Last year there was lot of interest in this but due to postponement of court cases on multiple times the interest died. I remember buying this for around Rs 26 last august and then later disposing it over Rs 30+. There was lot of intrest in the Rs 30.

The rumor is they might win it but the issue is will the case get postponed again. If so this can get stagant again most likely.

In the financial, one issue we should look at further is whether their gains are now actually more cash or whether they are revaluation gains. I see many opponents and proponents with this company. But I think this current price is attractive.

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Yes slstock. The company might win the case eventually but when is the question. This has been adjourning for a considerable period of time now.

By the way I heard that the first harvest is due within few months time. I think the first harvest is due from thier Aga wood plantations. Has anybody got any idea about this?

If the above is correct, then we will see the actual return from the harvest. This will prove whether thier forecast was correct or not.
avatar
StocksWatch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 720
Equity Stars : 3221
Reputation : 186
Join date : 2011-02-12

Back to top Go down

Re: Touchwood Case Review

Post by sureshot on Tue May 24, 2011 8:46 pm

hi,
NOTE THE FOLLOWING PREDICTIONS.
twod is worth at this prices......
note the case will be favor of twod.99.9% sure.
the case is in July 2011.not tomorrow.
there will be a good rally before the case.
BUY ...HAPPY TRADING TO ALL.........
avatar
sureshot
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 894
Equity Stars : 4509
Reputation : 15
Join date : 2011-04-26

Back to top Go down

Re: Touchwood Case Review

Post by Thushara on Tue May 24, 2011 9:47 pm


Based on market behavior there is a possibility to have a run. (CSF, BLUE, CLND). If TWOD start ,it may be grater than above mentions rallys, since most of people have massive mega rally experience with TWOD.

Happy Trading...

Thushara
Senior Equity Analytic
Senior Equity Analytic

Posts : 52
Equity Stars : 2316
Reputation : 7
Join date : 2011-02-08

Back to top Go down

Re: Touchwood Case Review

Post by factFINDER on Tue May 24, 2011 9:55 pm

@slstock wrote:

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Can any one explain me why TWOD releasing financial statements every six months (Sept & Mar) insted of QoQ??
avatar
factFINDER
Manager - Equity Analytics
Manager - Equity Analytics

Posts : 154
Equity Stars : 2740
Reputation : 41
Join date : 2010-05-27
Age : 38
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by Hiru on Tue May 24, 2011 9:58 pm

Hi friends,

On which ground the Institute has issued the certificate of compliance?

In my view, if the company has not adjusted the retained earnings in accordance with the way Board suggested, the Institute is challenging its own decisions as the Board includes members of the Institute. If the Company has not adjusted as suggested and Institute has given the CC, then the Company will win the case for sure.

On the other hand, If the Company has adjusted opening balances as suggested by the Board, it can't defend the case.

Any idea please

Hiru
Manager - Equity Analytics
Manager - Equity Analytics

Posts : 274
Equity Stars : 2536
Reputation : 31
Join date : 2011-04-24

Back to top Go down

Re: Touchwood Case Review

Post by milanka on Tue May 24, 2011 10:13 pm

@factFINDER wrote:
@slstock wrote:

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Can any one explain me why TWOD releasing financial statements every six months (Sept & Mar) insted of QoQ??

If tWOD on second board , then its correct to issue statements every six months.
avatar
milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

Posts : 1103
Equity Stars : 4255
Reputation : 163
Join date : 2011-01-28
Location : Q Soft.

http://forum.srilankaequity.com/u188

Back to top Go down

Re: Touchwood Case Review

Post by Light of Hope on Tue May 24, 2011 10:17 pm

@factFINDER wrote:
@slstock wrote:

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Can any one explain me why TWOD releasing financial statements every six months (Sept & Mar) insted of QoQ??

If listed on DiriSavi board, it is only required to lease your financials every six months.

Light of Hope
Vice President - Equity Analytics
Vice President - Equity Analytics

Posts : 1001
Equity Stars : 3281
Reputation : 56
Join date : 2011-04-04

Back to top Go down

Re: Touchwood Case Review

Post by Monster on Tue May 24, 2011 10:25 pm

@factFINDER wrote:
@slstock wrote:

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Can any one explain me why TWOD releasing financial statements every six months (Sept & Mar) insted of QoQ??
TWOD is listed under Diri Savi Board. Companies listed under Diri Savi board can submit the interim financial statement on a half-yearly basis.
http://www.cse.lk/listedcompanies/secondaryboard.htm
avatar
Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Posts : 1705
Equity Stars : 5575
Reputation : 278
Join date : 2011-01-22

Back to top Go down

Re: Touchwood Case Review

Post by chamith on Tue May 24, 2011 10:58 pm

good research seyon.
I did refer the BASL newsletter, In that they have concluded in favor of the company. But today i saw high selling pressure than buying. According to DFN the cash map shows only 19.16% buying. If you refer the charts you can see that how volume has increased since last couple of days. Even if there were high selling today the price fluctuation was minimum. please refer the following snap shot;



Disclose - I have TWOD in my pf
avatar
chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 824
Equity Stars : 3235
Reputation : 75
Join date : 2011-01-31
Location : England

Back to top Go down

Re: Touchwood Case Review

Post by seyon on Wed May 25, 2011 12:07 am

@chamith wrote:good research seyon.
I did refer the BASL newsletter, In that they have concluded in favor of the company. But today i saw high selling pressure than buying. According to DFN the cash map shows only 19.16% buying. If you refer the charts you can see that how volume has increased since last couple of days. Even if there were high selling today the price fluctuation was minimum. please refer the following snap shot;

Disclose - I have TWOD in my pf

Yes i also have seen some selling pressure for last couple of days, i guess someones collecting at lowest price. Will see the outcome on Thursdays, if the case will not be postponed.

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by xhora on Wed May 25, 2011 12:15 am

chamith,
How did you get a screenshot of the entire time sale list?
avatar
xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Posts : 462
Equity Stars : 2764
Reputation : 70
Join date : 2011-04-24
Age : 28
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by seyon on Wed May 25, 2011 12:18 am

@slstock wrote:
Thank you Seyon for reminding on a long forgotten share due to this court case. rep from me.

Last year there was lot of interest in this but due to postponement of court cases on multiple times the interest died. I remember buying this for around Rs 26 last august and then later disposing it over Rs 30+. There was lot of intrest in the Rs 30.

The rumor is they might win it but the issue is will the case get postponed again. If so this can get stagant again most likely.

In the financial, one issue we should look at further is whether their gains are now actually more cash or whether they are revaluation gains. I see many opponents and proponents with this company. But I think this current price is attractive.

Anway would like to see the financial report . They should release one for March. Think they were in Diri Savi board.


Yes We will be able to see the financial in couple of days. Hope the court will not postponed the hearing this time.

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by chamith on Wed May 25, 2011 12:20 am

@xhora wrote:chamith,
How did you get a screenshot of the entire time sale list?

In Direct FN, right click on the counter you want and click on TIME AND SALE.
avatar
chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 824
Equity Stars : 3235
Reputation : 75
Join date : 2011-01-31
Location : England

Back to top Go down

Re: Touchwood Case Review

Post by xhora on Wed May 25, 2011 12:24 am

no i wanted to know how did you get the screenshot of that entire thing??
avatar
xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Posts : 462
Equity Stars : 2764
Reputation : 70
Join date : 2011-04-24
Age : 28
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by chamith on Wed May 25, 2011 12:52 am

oh,

You have to join them using a photo editing software. You even can use MS Paint and join one screenshot after another.
avatar
chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 824
Equity Stars : 3235
Reputation : 75
Join date : 2011-01-31
Location : England

Back to top Go down

Re: Touchwood Case Review

Post by xhora on Wed May 25, 2011 12:54 am

thought there would be a easier way Smile
avatar
xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Posts : 462
Equity Stars : 2764
Reputation : 70
Join date : 2011-04-24
Age : 28
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by seyon on Wed May 25, 2011 8:36 am

@Hiru wrote:Hi friends,

On which ground the Institute has issued the certificate of compliance?

In my view, if the company has not adjusted the retained earnings in accordance with the way Board suggested, the Institute is challenging its own decisions as the Board includes members of the Institute. If the Company has not adjusted as suggested and Institute has given the CC, then the Company will win the case for sure.

On the other hand, If the Company has adjusted opening balances as suggested by the Board, it can't defend the case.

Any idea please

Pls clear me that what u are trying to say, Certificate of Compliance i understands that some certain area like CSR, Compliance with Accounting Standards and Financial Presentation were evaluated by ICASL and awarded. This reveals company practice in valuing biological assets are line with the accounting standard ( IAS- Agriculture).

Court looked some different angle that SriLanka accounting Standard related to the valuation of biological assets is not gazetted, it still in the draft model. Since Monitory Board does not have a power to challenge the company practice in valuing the biological assets. ( Pls refer the BASL Newsletter for the brief discussion of the case, which is uploaded in our research website.

This is my understanding... anybody has different view...

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by dimuthubas on Wed May 25, 2011 11:10 am

@xhora wrote:thought there would be a easier way Smile

1.Press the "Print Screen" once
2.open paintbrush
3.Ctrl+V

Got it. ;-) enjoy

dimuthubas
Stock Analytic
Stock Analytic

Posts : 19
Equity Stars : 2268
Reputation : 3
Join date : 2011-02-10

Back to top Go down

Re: Touchwood Case Review

Post by seyon on Wed May 25, 2011 12:39 pm

The present buying pressure reveals some good news we can expect from the company.

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by Hawk Eye on Wed May 25, 2011 3:48 pm

All thier profits are in Books. cash flow didnt look good until the rights issue. they havent given dividends for a last couple of years.
avatar
Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 834
Equity Stars : 4184
Reputation : 42
Join date : 2011-03-13

Back to top Go down

Re: Touchwood Case Review

Post by seyon on Wed May 25, 2011 4:37 pm

Some are telling court case on 26th May 2011( Tomorrow), Some telling It is put off to 18th July 2011. which is correct. Anybody knows the exact details.

seyon
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 3259
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Back to top Go down

Re: Touchwood Case Review

Post by Sana on Wed May 25, 2011 4:42 pm

@seyon wrote:Some are telling court case on 26th May 2011( Tomorrow), Some telling It is put off to 18th July 2011. which is correct. Anybody knows the exact details.


yes its exeactly on 18th july 2011.

Sana
Senior Equity Analytic
Senior Equity Analytic

Posts : 71
Equity Stars : 2314
Reputation : 2
Join date : 2011-03-05
Age : 28
Location : COLOMBO

Back to top Go down

Re: Touchwood Case Review

Post by mono on Wed May 25, 2011 6:14 pm

@Hawk Eye wrote:All thier profits are in Books. cash flow didnt look good until the rights issue. they havent given dividends for a last couple of years.

i think that is because of their business structure. they're like an investment fund. profits are a fair value assessment.
avatar
mono
Vice President - Equity Analytics
Vice President - Equity Analytics

Posts : 1170
Equity Stars : 3700
Reputation : 93
Join date : 2011-01-21
Age : 95

Back to top Go down

Re: Touchwood Case Review

Post by Sponsored content


Sponsored content


Back to top Go down

Page 1 of 16 1, 2, 3 ... 8 ... 16  Next

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum
Who is online?
In total there are 141 users online :: 10 Registered, 0 Hidden and 131 Guests

bullstreet, easthetic, indunil329, kumarweerarathne, Learner19, newer1, Quibit, sampath.anuradha, soileconomy, stockback

Most users ever online was 541 on Mon Sep 19, 2011 11:29 am
Statistics
We have 17053 registered users
The newest registered user is dinetha

Our users have posted a total of 322616 messages in 49543 subjects
Forum Rules & Guidelines
Sri Lanka Equity Analytic
Disclaimer

The information contained in this forum have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein.

www.srilankaequity.com its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever.

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, www.srilankaequity.com its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.