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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

avatar
Moderator
First topic message reminder :

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


fortuneteller


Senior Equity Analytic
Senior Equity Analytic
Miss-Sangeetha- We are not concerned with your past \"Love and Hate relationship with "Teller".Is it wor?th buying the rights issue at Rs 25.00? wrote:On 5th May year 2016 AFSL listed 7,400,000 QTY of AFSL rights shares at CSE. https://cdn.cse.lk/cmt/uploadAnnounceFiles/7001462419151_1069.pdf

 Just within three months on 01/08/2016, the axis of evil under took propagandas very well knowingly about the worst financial position of AFSL, that ” If Abans decides rights issue the share will shoot to 70” to dump their boss’s AFSL on small scale investors heads, and that was subsequently ations.

 Now the same axis of evil totally turned against the AFSL right issue not because to safe guard this forum members but for their own interest.

They very well know after this second AFSL rights issue with in 12 months period, the AFSL share price will go down to least level less than Rs.10/- because AFSL financially on life supporting machine before their last year’s rights issue.

Now the same axis of evils trying to discourage the AFSL right issue among the investors, to suspend their boss’s AFSL portfolio holding value going down (erode).

 Now if they subscribed this AFSL rights offer, AFSL share price definitely will go down after the right issue and have to face double losses one forum their newly subscribe shares and 2nd from their exiting AFSL shares holding in collective accounts

 If this axis of evil unsubscribes their own rights issue and subsequently AFSL rights issue go on as said, their own exiting huge quantity of AFSL will lose its value.

This is the main reason, now these evils are posting this forum with borrowed financial data from their bosses as they did the same in the case of  HEXP, now they totally against the AFSL rights issue and talking about good company but mad management and inefficiency to dump their AFSL holding after the AFSL rights issue fails.

After seeing my depth of writing in my posts these fools are refuse to accept that I am a female and imagining I am a matured man or old lady because they still thinking about the male dominance of last century.

 They think they can promote anything on behalf their boss and after the short period of time, forum members will forget everything, and again they can write against their own post to plunder.

Now what had happened to the HEXP share price after the great land sale?  I am the single lady fought back against Teller’s HEXP mafia.   



Last edited by fortuneteller on Mon Apr 03, 2017 5:02 pm; edited 1 time in total (Reason for editing : to provide accurate info)

52 Re: AFSL update... on Mon Apr 03, 2017 6:50 pm

Miss-Sangeetha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@fortuneteller wrote:
Miss-Sangeetha- We are not concerned with your past \"Love and Hate relationship with "Teller".Is it wor?th buying the rights issue at Rs 25.00? wrote:On 5th May year 2016 AFSL listed 7,400,000 QTY of AFSL rights shares at CSE. https://cdn.cse.lk/cmt/uploadAnnounceFiles/7001462419151_1069.pdf

 Just within three months on 01/08/2016, the axis of evil under took propagandas very well knowingly about the worst financial position of AFSL, that ” If Abans decides rights issue the share will shoot to 70” to dump their boss’s AFSL on small scale investors heads, and that was subsequently ations.

 Now the same axis of evil totally turned against the AFSL right issue not because to safe guard this forum members but for their own interest.

They very well know after this second AFSL rights issue with in 12 months period, the AFSL share price will go down to least level less than Rs.10/- because AFSL financially on life supporting machine before their last year’s rights issue.

Now the same axis of evils trying to discourage the AFSL right issue among the investors, to suspend their boss’s AFSL portfolio holding value going down (erode).

 Now if they subscribed this AFSL rights offer, AFSL share price definitely will go down after the right issue and have to face double losses one forum their newly subscribe shares and 2nd from their exiting AFSL shares holding in collective accounts

 If this axis of evil unsubscribes their own rights issue and subsequently AFSL rights issue go on as said, their own exiting huge quantity of AFSL will lose its value.

This is the main reason, now these evils are posting this forum with borrowed financial data from their bosses as they did the same in the case of  HEXP, now they totally against the AFSL rights issue and talking about good company but mad management and inefficiency to dump their AFSL holding after the AFSL rights issue fails.

After seeing my depth of writing in my posts these fools are refuse to accept that I am a female and imagining I am a matured man or old lady because they still thinking about the male dominance of last century.

 They think they can promote anything on behalf their boss and after the short period of time, forum members will forget everything, and again they can write against their own post to plunder.

Now what had happened to the HEXP share price after the great land sale?  I am the single lady fought back against Teller’s HEXP mafia.   

 

You know the correct answer; your own answer on 01/08/2016, under the topic of AFSL can be a gem is excellent, see the link below

http://forum.srilankaequity.com/t51905p50-afsl-can-be-a-gem#334119

Now you are innocently asking the question at everybody that “ Is it worth buying AFSL right issue@25?”

Your own answer was on 01/08/2016 “If Abans decides on rights issue, the share will shoot to 70.Good to buy” you very well know about the worst financial position of AFSL that time with in 3 months after listing of rights issue share of AFSL last year, you said this.
See below your own posting also


Do you think all these forum members are fools with short memory?
Don't fool others

53 “ Is it worth buying AFSL right issue@25?” on Mon Apr 03, 2017 7:15 pm

antony thomaspulle


Stock Analytic
Stock Analytic
Please respond to a simple question-


“ Is it worth buying AFSL right issue@25?” in view of the following?

1)Why is NPL of AFSL @ 13.00% when the industry ratio is below 6.00%?.
2)Why was the share given to a related party on private placement to touchwood fame Ironwood @25.00 when the market rate of 69.90.
3)Why was the share sold to a paper company owned by a Director  with no experience in the Financial Services Industry?
4)Have they achieved all targets or Wish List given by IRONWOOD when the private placement was made at 25.00.)ie-1.4 times asset value when Seylan Bank offered 2 times the asset value)?
3)Why are the following  ratios reflecting inefficiency?

a)Capital funds to deposit 19.78% (minimum 10%)
b)Core Capital 18.39% (minimum 5%)
c)Total Risk weighted Capital 18.34% (minimum 10%
4)Has the exchange control fraud related to vehicle import under valuation sorted out?
5)What has AFSL done to overcome the restriction placed by Central Bank?(Fraudulent products to lease up to 100%)


You sort-out your problems with others separately!

54 IRONWOOD CHEATING MINORITY SHARE HOLDERS? on Tue Apr 04, 2017 11:01 am

antony thomaspulle


Stock Analytic
Stock Analytic
@Miss-Sangeetha wrote:Sangeetha is this statement Correct?

Now if they subscribed this AFSL rights offer, AFSL share price definitely will go down after the right issue and have to face double losses one forum their newly subscribe shares and 2nd from their exiting AFSL shares holding in collective accounts.
ts 

All these figures and ratios given are from the Financial Statements and Stock Exchange Filings and not from borrowed financial data from Bosses as stated by you-PLEASE CHECK THE CSE SITE!

"This is the main reason, now these evils are posting this forum with borrowed financial data from their bosses as they did the same in the case of  HEXP,..."


“ Is it worth buying AFSL right issue@25?” in view of the following?

1)Why is NPL of AFSL @ 13.00% when the industry ratio is below 6.00%?.
2)Why was the share given to a related party on private placement to touchwood fame Ironwood @25.00 when the market rate of 69.90.
3)Why was the share sold to a paper company owned by a Director  with no experience in the Financial Services Industry?
4)Have they achieved all targets or Wish List given by IRONWOOD when the private placement was made at 25.00.)ie-1.4 times asset value when Seylan Bank offered 2 times the asset value)?
3)Why are the following  ratios reflecting inefficiency?

a)Capital funds to deposit 19.78% (minimum 10%)
b)Core Capital 18.39% (minimum 5%)
c)Total Risk weighted Capital 18.34% (minimum 10%
4)Has the exchange control fraud related to vehicle import under valuation sorted out?
5)What has AFSL done to overcome the restriction placed by Central Bank?(Fraudulent products to lease up to 100%)


You sort-out your problems with others separately!

55 IRONWOOD CHEATING MINORITY SHAREHOLDERS on Thu Apr 20, 2017 7:18 pm

antony thomaspulle


Stock Analytic
Stock Analytic
SANGEETHA ------“ Is it worth buying AFSL right issue@25?” in view of the following?

1)Why is NPL of AFSL @ 13.00% when the industry ratio is below 6.00%?.
2)Why was the share given to a related party on private placement to touchwood fame Ironwood @25.00 when the market rate of 69.90.
3)Why was the share sold to a paper company owned by a Director  with no experience in the Financial Services Industry?
4)Have they achieved all targets or Wish List given by IRONWOOD when the private placement was made at 25.00.)ie-1.4 times asset value when Seylan Bank offered 2 times the asset value)?
3)Why are the following  ratios reflecting inefficiency?

a)Capital funds to deposit 19.78% (minimum 10%)
b)Core Capital 18.39% (minimum 5%)
c)Total Risk weighted Capital 18.34% (minimum 10%
4)Has the exchange control fraud related to vehicle import under valuation sorted out?
5)What has AFSL done to overcome the restriction placed by Central Bank?(Fraudulent products to lease up to 100%)


You sort-out your problems with others separately!

56 Re: AFSL update... on Thu Apr 20, 2017 10:10 pm

fireshelter

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Collect  Very Happy Very Happy Very Happy Very Happy Very Happy

57 IRONWOOD CHEATING MINORITY SHAREHOLDERS on Thu Apr 20, 2017 10:55 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Why are the following  ratios reflecting inefficiency?

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

58 Re: AFSL update... on Fri Apr 21, 2017 9:25 pm

Investor1994


Equity Analytic
Equity Analytic
Abans PLC sold all their rights in one trade. At most three and at least two companies will hold the majority of shares. No dividends until 2021 to meet CBSLs ridiculous targets. If they are clever they will do scrip dividends. I wonder what Ironwood gets from such a risky strategy.

59 IRONWOOD CHEATING MINORITY SHAREHOLDERS on Tue Apr 25, 2017 10:42 am

antony thomaspulle


Stock Analytic
Stock Analytic
Abans PLC is in financial difficulties with high losses and Colombo City Centre project being delayed and unable to sell apartments and making high losses. Abans PLC will sell their rights issue and the shares they are holding in the names of employees as they have no money to pay for the rights as confirmed by Senior Consultant Mr.Eric Rajendra.

Ironwood which has no experience will be forced to buy the shares and make a voluntary offer for which they have no money.Unless another investor steps in the name will be changed to  "Ironwood Finance" after the rights issue.Price of the share is manipulated and pushed up to 29.00 by fraudulent trades.Ironwood continues to cheat the minority share holders and regulators.

Be cautious before subscribing for the rights issue.Share price will come down to 23.00 after the closure of rights issue this week.

60 IRONWOOD CHEATING MINORITY SHAREHOLDERS on Tue Apr 25, 2017 1:06 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Why are the following  ratios reflecting inefficiency?


a)Capital funds to deposit 19.78% (minimum 10%)-Too much of capital funds ,If minimum is 10% why 19.78%?

b)Core Capital 18.39% (minimum 5%)-Too much of Core Capital.If minimum is 5% why 18.39%?


c)Total Risk weighted Capital 18.34% (minimum 10%)- Too much of Risk weighted Capital.If minimum is 10% why 18.34%?

All these proves that this inefficient Company will not require a Right Issue.Then Why?

61 Ironwood cheating minority share holders! on Tue Apr 25, 2017 9:02 pm

Wimal Modawansa

avatar
Manager - Equity Analytics
Manager - Equity Analytics
A longtime investor in the stock market 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), Minority Share holders objected and wanted the shares to be offered to the existing Share holders first and then to the Director. A number of minority 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 his 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 was too late to realize that they were taken for a ride.
 AFSL now on life supporting machine! Touch wood (TWOD), Blue, PCH, AINV and PCP now plying between life and death (some already dead).

WILL IRONWOOD THE COMPANY (WHICH CHEATED THE MINORITY SHAREHOLERS), TOUCHWOOD FAME COMPANY. MAKE ANOTHER HISTORY OF DEBACLE!

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Abans has always manipulated.
 -When the company was formed no cash was put in. -Hire Purchase portfolio was transferred as share capital.(Central Bank pf Sri Lanka).
 -When listing was made shares were fraudulently transferred to employees to cheat the CSE/SEC on free float rule.(CSE/SEC)
-Those employees have no means to buy the shares and FCID should investigate under money laundering act(Employees of Abans)
-If the initial share holder list is checked these employees could be identified(Varners International-company secretaries)
-CDS accounts were opened with Acquity and JB stock brokers and shares sold fraudulently without payment of money.(Acquity and JB stock brokers.)
-When private placement was made shares were issued to Ironwood , company owned by independent director and audit committee chairman Hiran Embuldeniya at a discounted price of Rs 25.00 when the share was trading at 69.90 ,cheating the minority share holders(stock exchange records)
-Hiran Embuldeniya requested approval to buy shares even before the Company was incorporated(Central Bank of Sri Lanka)
-Seylan bank offered 2 times the asset value to buy the shares but private placement was at 1.4 times asset price to Ironwood.(Seylan Bank)
-A company named Able Investment was set up to buy and transfer shares of employees and the rate at which such company bought the shared should be the mandatory offer price as Abans and Ironwood have acted in consort(Registrar of companies)
-Poor CSE and SEC , They were cheated and taken for a ride(Investors and General public.)
-Mr Hiran Embuldeniya common Director of Abans And Ironwood continue to serve as Audit Committee Chairman and Independent Director(Varners International-company secretaries)
-WHAT A MANUPULATION OF CORPORATE GOVERNANCE !!!

63 Re: AFSL update... on Sun May 21, 2017 7:15 am

Investor1994


Equity Analytic
Equity Analytic
Why such an exponential rise in trade payable to other parties. Also why no sub note on how this is broken up.

64 Re: AFSL update... on Sun May 21, 2017 12:49 pm

fortuneteller

avatar
Senior Equity Analytic
Senior Equity Analytic
Payable to parent Company Abans or Sister Company?

65 Re: AFSL update... on Mon May 22, 2017 7:05 am

deli

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Senior Equity Analytic
Senior Equity Analytic
Could be government entity payable

66 Re: AFSL update... on Tue May 23, 2017 10:26 am

fortuneteller

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Senior Equity Analytic
Senior Equity Analytic
Rights shares listed today. Will it drop to issued price of Rs 25.00 with in next few days pending the mandatory offer at Rs 25.00?

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