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Sri Lanka Equity Forum » Stock Market Talk » AFSL update...

AFSL update...

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1 AFSL update... on Tue Sep 06, 2016 1:26 pm

Teller

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Moderator
Company has announced ,private placement shares have been locked for 3 years.
So AFSL can lead to sky high with new imvestors

See the company statement


http://www.cse.lk/cmt/uploadAnnounceFiles/4941473071363_1069.pdf

2 Re: AFSL update... on Tue Sep 06, 2016 2:01 pm

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
How soon do you feel it can start moving?

3 Re: AFSL update... on Tue Sep 06, 2016 4:29 pm

Pac-man

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
yanawa badu

4 Re: AFSL update... on Tue Sep 06, 2016 6:03 pm

Insight


Equity Analytic
Equity Analytic
Teller,

How can the share price go up with a private placement??
Coz, PP comes with a price of Rs.25/-
Pl.explain
Thanks alot

5 Re: AFSL update... on Tue Sep 06, 2016 8:20 pm

Teller

avatar
Moderator
Yes , this is happening because of this private placement has one condition.
The investors who participated this private placement can't sell any single share till 2019 March.
So there will not be any selling pressure during next 3 years from private placement.
It means very few public holding at the market so easy to go up the prices above 60/- levels.
On the other hand AFSL got lot of free cash for lending to customers but no need to pay any interests for the investor.
So definitely AFSL share prices will be upward no doubt on it

6 Re: AFSL update... on Wed Sep 07, 2016 7:20 am

Insight


Equity Analytic
Equity Analytic
Thanks Teller...

7 Re: AFSL update... on Fri Sep 23, 2016 2:49 am

Teller

avatar
Moderator
Most of the finance companies Started to Run.  AFSl this quarter will be a good one as they received huge money from private placement . 
Private placement shares have been blocked for 3 years. So very few shares in the market . Now GSF,SFL,BLI  have started to run . Next AFSL should be updated above 55 levels at. Least.
Company is doing really well and loan and advances became double with in a year.

8 Re: AFSL update... on Sat Sep 24, 2016 1:16 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
The private placement lock in is great and reduces liquidity for 3 years, the Rs. 25 per share they paid is even better.  

In March the NAV was 16.61, by June it had increased to 18.79.  Yes NAV could have grown more by September anyway but the bigger boost is from the Rs.25 they got for each new private placement share.  

Even without doing the numbers here now, the next big pluses are the benefits of vehicle permits for more loans.  And last but not least, the human asset value of Ironwood Capital who took the private placement.  Read up on their team and see the familiar faces, their track records and huge corporate turnaround operations.  When an incredibly successful team, wants to sail on a particular ship, they are here to pick a bright one full of potential to further enhance.  See their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc for a better idea of the value they've unlocked.

9 Re: AFSL update... on Mon Sep 26, 2016 10:53 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
I maintain that anyone collecting should target the lowest price possible.  The price Ironwood collected at or anything even close by (Rs. 10 or so higher) might be difficult as there are very few shares on the market.  Ironwood aren't here to make only 5 or 10 % so the prospects must be really good for them to get in.  Also my reference about their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc is about the activities Ironwood directors have played a critical part in.

10 Re: AFSL update... on Tue Sep 27, 2016 2:14 pm

onenine87


Equity Analytic
Equity Analytic
@Gallardo wrote:I maintain that anyone collecting should target the lowest price possible.  The price Ironwood collected at or anything even close by (Rs. 10 or so higher) might be difficult as there are very few shares on the market.  Ironwood aren't here to make only 5 or 10 % so the prospects must be really good for them to get in.  Also my reference about their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc is about the activities Ironwood directors have played a critical part in.
 

There is another right issue in the pipeline at Rs.25

11 Re: AFSL update... on Wed Sep 28, 2016 9:25 am

Teller

avatar
Moderator
If another right issue is there 25/_, before that AFSL will touch 60 levels because exiting share holders will get the benifit for rights.

12 Re: AFSL update... on Wed Sep 28, 2016 10:50 am

onenine87


Equity Analytic
Equity Analytic
@Teller wrote:If another right issue is there 25/_, before that AFSL will touch 60 levels because exiting share holders will get the benifit for rights.  
 Hi Teller

Can you explain it further...??? Thanks

13 Re: AFSL update... on Wed Sep 28, 2016 11:07 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
Considering that the last rights issue only concluded in April and was successfully oversubscribed, how likely is another on and exactly how soon do you expect?  2 years? 3/4?  This April's right issue might have been the first time since listing. 

Also,  before Ironwood invested through a private placement, they would get a concrete agreement on future rights issue timelines.  Otherwise they risk diluting their shareholding after investing so much if they fail to subscribe.

14 Re: AFSL update... on Wed Sep 28, 2016 1:31 pm

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
AFSL is a dirty game.It's kept down to collect.Will reach 50 easily all micro finance companies moving why not AFSL

15 Re: AFSL update... on Wed Sep 28, 2016 2:31 pm

onenine87


Equity Analytic
Equity Analytic
@Gallardo wrote:Considering that the last rights issue only concluded in April and was successfully oversubscribed, how likely is another on and exactly how soon do you expect?  2 years? 3/4?  This April's right issue might have been the first time since listing. 

Also,  before Ironwood invested through a private placement, they would get a concrete agreement on future rights issue timelines.  Otherwise they risk diluting their shareholding after investing so much if they fail to subscribe.

Wait and see..within this year next right issue will be finalized after the private placement. I wanted to know how it affect to current market price. 

Dear Teller...
could you explan

16 Re: AFSL update... on Wed Sep 28, 2016 2:56 pm

Teller

avatar
Moderator
I don't think any right issue with in 3 years.

17 Re: AFSL update... on Mon Oct 03, 2016 7:47 pm

point

avatar
Manager - Equity Analytics
Manager - Equity Analytics
An interesting share to study. Very small quantity outside.Good performances. Why no movement yet ????  Need a real movement

18 Re: AFSL update... on Mon Oct 03, 2016 9:03 pm

Teller

avatar
Moderator
Slowly Collection is going on. It will post very good financial report for the last quarter . We will see sudden blast at any time in coming days.

19 Re: AFSL update... on Fri Mar 17, 2017 7:14 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
It is reported that AFSL is in deep trouble and the profit for February is only Rs 100,000 and the major share holder Abans Will not subscribe for the rights issue.The share is trading at 23.10 as against the rights price of Rs 25.00.Market is being manipulated and one  share was traded at 28.10 to mislead the investors.

20 Re: AFSL update... on Sat Mar 18, 2017 10:43 am

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February is only Rs 100,000/=

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.



Last edited by fortuneteller on Sat Mar 18, 2017 10:54 am; edited 1 time in total (Reason for editing : to provide accurate info)

21 Re: AFSL update... on Sun Mar 19, 2017 10:05 pm

Top Trader


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Wimal Modawansa wrote:It is reported that AFSL is in deep trouble and the profit for February is only Rs 100,000 and the major share holder Abans Will not subscribe for the rights issue.The share is trading at 23.10 as against the rights price of Rs 25.00.Market is being manipulated and one  share was traded at 28.10 to mislead the investors.

From where u got this 100,000/= profit detail?

22 Re: AFSL update... on Mon Mar 20, 2017 2:53 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
It should read as Hugh loss position adjusted to near zero profit and not Rs 100,000/= profit.

23 Re: AFSL update... on Mon Mar 20, 2017 3:19 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
"Fortune teller Commented"- A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February was near "Zero" after adjusting the Hugh loss figure.

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.

24 Re: AFSL update... on Wed Mar 22, 2017 8:49 am

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Not only profits are manipulated, When the share is trading at 23.80 fraudulent transactions of one share each is traded at high price of 25.80 to mislead the investors.

25 Re: AFSL update... on Fri Mar 24, 2017 10:25 pm

onenine87


Equity Analytic
Equity Analytic
@fortuneteller wrote:A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February is only Rs 100,000/=

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.

@fortuneteller

You are 100% correct sir.. Abans Plc is going to give up the rights and also planing to sell shares got from the previous right issue.

26 Re: AFSL update... on Sun Mar 26, 2017 8:12 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Senior advisor to Chairperson , Eric Rajendra had been sacked by Abans.But, Ironwood (sister company of touchwood) had paid a deposit to Abans Plc for the earlier rights issue and abans are holding to those shares to avoid mandatory offer.If Abans is not buying the rights shares Perpatual treasury is willing to buy at that price.

27 Re: AFSL update... on Thu Mar 30, 2017 12:31 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
I am a longtime investor in the stock market and was holding on to 10,000 shares in Abans Finance and the marker value of  same was Rs 699,000.00 by end  September 2016.When a proposal was made to issue 20% to a Company owned by a Director of Abans PLC @ Rs 25.00 with no experience in the Financial Services Sector (1.4 times book value), I objected and wanted the shares to the existing Share holders first and then to the Director. A number of share holders walked out of the EGM in protest of this manipulation.
Since then the performance of the Company has declined and the share is now trading at Rs 23.00 and the value of my investment is Rs 230,000.00 a loss of Rs 469, 000.00.(69 %).
Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is unlikely to take up the rights @ Rs 25.00. Embarassed Embarassed Embarassed
Embarassed Embarassed

28 Re: AFSL update... on Thu Mar 30, 2017 12:46 pm

Miss-Sangeetha

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Teller wrote:Yes , this is happening because of this private placement has one condition.
The investors who participated this private placement  can't sell any single share till 2019 March.
So there will not be any selling pressure during next 3 years from private placement.
It means very few public holding at the market so easy to go up the prices above 60/- levels.
On the other hand AFSL got lot of free cash for lending to customers but no need to pay any interests for the investor.
So definitely AFSL share prices will be upward no doubt on it

This is called PV inner bullish around 96.8  daily adjustment to 97.7 means green today 

29 Poorly Managed Abans Finance on Thu Mar 30, 2017 1:53 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Teller also said the same thing in September 2016 and it never went to Rs 60.It is an inefficient company  badly managed with lots of free cash. Embarassed Embarassed Embarassed Embarassed Embarassed
(Yes , this is happening because of this private placement has one condition.
The investors who participated this private placement can't sell any single share till 2019 March.
So there will not be any selling pressure during next 3 years from private placement.
It means very few public holding at the market so easy to go up the prices above 60/- levels.
On the other hand AFSL got lot of free cash for lending to customers but no need to pay any interests for the investor.
So definitely AFSL share prices will be upward no doubt on it) Embarassed Embarassed Embarassed Embarassed Embarassed

30 Re: AFSL update... on Thu Mar 30, 2017 2:57 pm

CSE VIJAY


Manager - Equity Analytics
Manager - Equity Analytics
@fortuneteller wrote:I am a longtime investor in the stock market and was holding on to 10,000 shares in Abans Finance and the marker value of  same was Rs 699,000.00 by end  September 2016.When a proposal was made to issue 20% to a Company owned by a Director of Abans PLC @ Rs 25.00 with no experience in the Financial Services Sector (1.4 times book value), I objected and wanted the shares to the existing Share holders first and then to the Director. A number of share holders walked out of the EGM in protest of this manipulation.
Since then the performance of the Company has declined and the share is now trading at Rs 23.00 and the value of my investment is Rs 230,000.00 a loss of Rs 469, 000.00.(69 %).
Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is unlikely to take up the rights @ Rs 25.00. Embarassed Embarassed Embarassed
Embarassed Embarassed
Your first post is contradicting with your own second post. You are accepting that
 
“Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is unlikely to take up the rights @ Rs 25.00.”

Now, AFSL trading@ 23. how can it possible to reach 60?
In your second post you are reciting the same Teller’s post’s paragraph. You are fortuneteller; he is mode “Teller”. Your joining date is on 01-08-2016, so far you have posted 5 posts and your reputation is also zero.
My question is whether Teller turned into fortuneteller due to current circumstances, Teller also disappeared from this forum.
I know Teller is a good person but may have some financial difficulties, compel to doing some share promotions.

antony thomaspulle


Stock Analytic
Stock Analytic
Fortune teller was only responding to Sangeetha who was referring to a quote of teller-of September 2016 misleading investors by saying AFSL shares will  increase to Rs 60.00 which never materialized."It means very few public holding at the market so easy to go up the prices above 60/- levels."


He also says "Since then the performance of the Company has declined and the share is now trading at Rs 23.00 and the value of my investment is Rs 230,000.00 a loss of Rs 469, 000.00.(69 %)."

It is clear that "AFSL  is an inefficient company  badly managed with lots of free cash.      "

All Relevant ratios are Weak

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

Does AFSL need capital infusion?

32 Re: AFSL update... on Thu Mar 30, 2017 6:29 pm

Miss-Sangeetha

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@antony thomaspulle wrote:Fortune teller was only responding to Sangeetha who was referring to a quote of teller-of September 2016 misleading investors by saying AFSL shares will  increase to Rs 60.00 which never materialized."It means very few public holding at the market so easy to go up the prices above 60/- levels."


He also says "Since then the performance of the Company has declined and the share is now trading at Rs 23.00 and the value of my investment is Rs 230,000.00 a loss of Rs 469, 000.00.(69 %)."

It is clear that "AFSL  is an inefficient company  badly managed with lots of free cash.      "

All Relevant ratios are Weak

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

Does AFSL need capital infusion?

Teller said on Sept 2016So definitely AFSL share price will be upward no doubt on itwhat is the meaning of this statement? Now only  six months passed, AFSL now on life supporting machine, you said due to inefficiency and mismanagement otherwise it would have touched Rs.60/-

So touch wood (TWOD), Blue, PCH, AINV and PCP are well managed and efficient now plying between life and death (some already dead).

In the case of AFSL, Who appointed this management? Who is responsible? What is the purpose of establishing the internal Auditing Department?

Time to time issuing right issue & horse riding at CSE is a hobby of Blue Diamond, What had happened to that colossal sum of money collected through right issue? Do you think Blue Diamond, well managed and efficient? Shall I spear head by quoting their right issue and possible their jewelry exports, that “BLUE share definitely will be upward no doubt on it and touch Rs.10/-“.

Do you know SHL, IPO price is above Rs.29/-? Never reach that price levels at CSE trading. After that SEC tightening its noose, that leads the high price quoting in the Hayleys internal land sale.
Don’t come with Indian Katta Pannchayathu (Judgment giving at the tugs assembly) with recently opened ID profile and 3 posting in support Teller.  

33 Re: AFSL update... on Thu Mar 30, 2017 7:33 pm

Miss-Sangeetha

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@antony thomaspulle wrote:Fortune teller was only responding to Sangeetha who was referring to a quote of teller-of September 2016 misleading investors by saying AFSL shares will  increase to Rs 60.00 which never materialized."It means very few public holding at the market so easy to go up the prices above 60/- levels."


He also says "Since then the performance of the Company has declined and the share is now trading at Rs 23.00 and the value of my investment is Rs 230,000.00 a loss of Rs 469, 000.00.(69 %)."

It is clear that "AFSL  is an inefficient company  badly managed with lots of free cash.      "

All Relevant ratios are Weak

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

Does AFSL need capital infusion?

You can defend Teller better way.That he was only dreaming about AFSL and not to encourage anybody to buy AFSL.

 I also not said that you have mentioned in your posting, only said PV inner bullish around 96.8 daily adjustment to 97.7 means green today (Refer my post) that is only understandable to one person Teller in the world(His imagination only understand to him only)

As CSE VIJAY point of view fortuneteller and Teller, I also think Teller wearing new clothing after the HEXP debacle.

34 Re: AFSL update... on Thu Mar 30, 2017 8:05 pm

antony thomaspulle


Stock Analytic
Stock Analytic
Very good counter argument by Sangeetha aunty!All should buy AFSL!

As CSE VIJAY point of view fortuneteller and Teller, I also think Teller wearing new clothing after the HEXP debacle.

Should we buy the rights @ Rs 25.00?When will it go to Rs 60.00?

35 Re: AFSL update... on Thu Mar 30, 2017 8:19 pm

Miss-Sangeetha

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@antony thomaspulle wrote:Very good counter argument by Sangeetha aunty!All should buy AFSL!

As CSE VIJAY point of view fortuneteller and Teller, I also think Teller wearing new clothing after the HEXP debacle.

Should we buy the rights @ Rs 25.00?When will it go to Rs 60.00?

Uncle is coming with Old toddy in new pot



Last edited by Miss-Sangeetha on Thu Mar 30, 2017 8:21 pm; edited 1 time in total

36 Re: AFSL update... on Thu Mar 30, 2017 8:20 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
1)Does AFSL need capital infusion? Very Happy Very Happy Very Happy

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

2)Will inefficiencies of AFSL be addressed now? Embarassed Embarassed Embarassed

37 Will inefficiencies of AFSL be addressed Early? on Fri Mar 31, 2017 11:49 am

antony thomaspulle


Stock Analytic
Stock Analytic
As Wimal said-

"1)Does AFSL need capital infusion?   

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

2)Will inefficiencies of AFSL be addressed now?   

"

"Read up on their team and see the familiar faces, their track records and huge corporate turnaround operations.  When an incredibly successful team, wants to sail on a particular ship, they are here to pick a bright one full of potential to further enhance."

-Is this true?I thought I thought Ironwood was only a paper company!

38 Re: AFSL update... on Fri Mar 31, 2017 1:04 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@Miss-Sangeetha wrote:
@antony thomaspulle wrote:Very good counter argument by Sangeetha aunty!All should buy AFSL!

As CSE VIJAY point of view fortuneteller and Teller, I also think Teller wearing new clothing after the HEXP debacle.

Should we buy the rights @ Rs 25.00?When will it go to Rs 60.00?

Uncle is coming with Old toddy in new pot

Aunty has been a miss for a long time being the old toddy in old pot. Very Happy Very Happy Very Happy

39 Re: AFSL update... on Fri Mar 31, 2017 1:53 pm

Miss-Sangeetha

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Wimal Modawansa wrote:
@Miss-Sangeetha wrote:
@antony thomaspulle wrote:Very good counter argument by Sangeetha aunty!All should buy AFSL!

As CSE VIJAY point of view fortuneteller and Teller, I also think Teller wearing new clothing after the HEXP debacle.

Should we buy the rights @ Rs 25.00?When will it go to Rs 60.00?

Uncle is coming with Old toddy in new pot

Aunty has been a miss for a long time being the old toddy in old pot. Very Happy Very Happy Very Happy

Thank you for your judgment at your elite underworld assembly under the leadership of morda + wansa with newly opened ID profile and 3 or 5 posts, can’t understand my proverb or article.

Although AFSL'S second right issue with in one year, you can promote the AFSL with the guidance of uncle and with the condition of If AFSL doesn’t reach the Rs.60  level,I will quit this forum, that should be your slogan  

40 Re: AFSL update... on Fri Mar 31, 2017 7:10 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
@Wimal Modawansa wrote:1)Does AFSL need capital infusion? Very Happy Very Happy Very Happy

Capital funds to deposit 19.78% (minimum 10%)
Core Capital 18.39% (minimum 5%)
Total Risk weighted Capital 18.34% (minimum 10%

2)Will inefficiencies of AFSL be addressed now? Embarassed Embarassed Embarassed
Is it worth buying AFSL rights issue @ 25.00?

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