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Sri Lanka Equity Forum » Stock Market Talk » COCR.N0000 Commercial Credit Finance PLC Thai deal

COCR.N0000 Commercial Credit Finance PLC Thai deal

Go down  Message [Page 1 of 1]

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Ceylon Finance Today: Thai motorcycle leasing company Group Lease PCL yesterday (03) said that they had acquired a 29.99% or 95.3M share stake of Sri Lanka's listed Commercial Credit and Finance (stock code-COCR) for Rs 10,588,345,500 or Rs 10.5B.
The sellers will be BG Investments, Creation Investments and Stephen L. Lafrance Jr, they said. The selling price per share is Rs 111 and yesterday (3) COCR closed at
Rs 54.10 up Rs 1.40 or 2.66%. Group Lease which is a part of Japan's Wedge Holdings Co now has the right to buy the remaining 70 % in COCR if existing shareholders want to sell the stake, Chairman and Chief Executive Mitsuji Konoshita told an overseas joint news conference.

Commercial Credit and Finance (CCF) has assets of $500M, of which one-fifth is in the microfinance business, and expects a net profit of $22M this year, CCF Chief Executive Roshan S. Egodage said
Listed microfinance company Group Lease (GL) plans to collaborate further with CCF to strengthen its microfinance businesses in Indonesia and Cambodia after GL acquired a microfinance company in Myanmar from a CCF shareholder.
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar, a subsidiary of CCF, from BG International Private, a holding company based in Sri Lanka owned by Roshan S. Egodage, who is also chief executive officer of CCF.

GL chairman and CEO Mitsuji Konoshita said the transaction would be made via GL Holdings (GLH), its holding company in Singapore. Egodage said he decided to sell shares to GL because of strict restrictions by the Sri Lankan authorities on capital outflows. GL's successful digital finance business model will contribute to BG Microfinance's rapid expansion while the GL finance model will be implemented in all other countries where GL operates, especially Indonesia and Cambodia, where there are enormous growth opportunities, he said.
CCF does not have a footprint in Indonesia or Cambodia, so collaboration with GL will provide the Sri Lankan firm scope to broaden its operations, Egodage said. Konoshita said GL was ready to inject $6.8M into BG Microfinance to have branches in 12 districts in Myanmar, up from only three now.
"We hope that BG Microfinance's portfolio will dramatically increase from $30M to $40M next year, and monthly profit should increase by 10 times from the current total," he said. Myanmar is providing a big opportunity for GL as it is an emerging market and only five players including BG Microfinance are there, he said. Furthermore, authorities are not giving out any new microfinance or hire-purchase licences. Therefore, it is a great opportunity for GL to expand its market share.
GL recently announced net profit in the second-quarter of THB 255.85M, raising its total first-half profit to THB 478M.
(IG)

troy

troy
Moderator
My friend, today is a poya day in SL I think! And it is 15th October 2106.... oh plsss

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Yeah it's poya day 15 th October 2016..not 2106...

Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing

trader7


Manager - Equity Analytics
Manager - Equity Analytics
Can you share the link, in Ceylon Today Finance   ?

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Thai lease group buys Commercial Credit stake - Ceylontoday
Since I am a new member.can't share the link.You can search by web in above search

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Thai lease group buys Commercial Credit stake - Ceylontoday
Since I am a new member.can't share the link.You can search by web in above search


your article is bit old now. that date should be 04.10.2016

waiting for next announcement.

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stockback wrote:
@PrasannaMani wrote:Thai lease group buys Commercial Credit stake - Ceylontoday
Since I am a new member.can't share the link.You can search by web in above search


your article is bit old now. that date should be 04.10.2016

waiting for next announcement.
Is it going to be 17.10.2016  Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy????????????

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ruwan326 wrote:
@stockback wrote:
@PrasannaMani wrote:Thai lease group buys Commercial Credit stake - Ceylontoday
Since I am a new member.can't share the link.You can search by web in above search


your article is bit old now. that date should be 04.10.2016

waiting for next announcement.
Is it going to be 17.10.2016  Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy????????????


I am sure it should be next 11 working days.

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Yeah.Article is still valid. Isn't it rather than manipulating information spreading over.
My intention was to have clear picture on the deal.What really happened and what 29.99%
Thai company is upto.COCR short-term and long-term
will have a good run..

10 CAUSE OF COCR on Sat Oct 15, 2016 8:28 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Yeah.Article is  still valid. Isn't it rather than manipulating information spreading over.
My intention was to have clear picture on the deal.What really happened and what 29.99%
Thai company is upto.COCR short-term and long-term
will have a good run..

Last month I joined the forum and most of the experts( they call them selves and as far as I am concerned they are the broker firm members) said I join the forum for JKH.W0023 Very Happy Very Happy Very Happy Very Happy

Soon they will call you cause of COCR......... Get ready my friend alien alien alien alien

Hope COCR will run the next step on MONDAY or coming week Basketball Basketball Basketball Basketball

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Cheers buddy. Very Happy Very Happy Very Happy
Brokers are welcome to the party.

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Cheers buddy. Very Happy Very Happy Very Happy
Brokers are welcome to the party.
This forum mostly run by Brokers........ Soon you will know the names Very Happy Very Happy Very Happy Very Happy Very Happy
Few gentleman also here, providing latest tips and news for investors.........
Glade to find a non broker lol! lol! lol! lol!

Teller

Teller
Moderator
We should not use the word "Brokers". Give some respect bro..Smile. They are our advisors...

trader7


Manager - Equity Analytics
Manager - Equity Analytics
A stockbroker is an individual / organization who are specially given license to participate in the securities market on behalf of clients. The stockbroker has the role of an agent. When the Stockbroker acts as agent for the buyers and sellers of securities, a commission is charged for this service.

As an agent the stock broker is merely performing a service for the investor. This means that the broker will buy for the buyer and sell for the seller, each time making sure that the best price is obtained for the client.
An investor should regard the stockbroker as one who provides valuable service and information to assist in making the correct investment decision. They are adequately qualified to provide answers to a number of questions that the investor might need answers to and to assist in participating in the regional market.
**courtesy sharemarketschool.com

15 DUTY OF A BROKER= ADVISOR OR BLOOD SUCKER on Mon Oct 17, 2016 7:34 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:We should not use the word "Brokers". Give some respect bro..Smile. They are our advisors...
Unfortunately teller  Very Happy Very Happy Very Happy Very Happy  We need new set of words in sri lanak.......

If you take Politician most of the countries respectable...... But I don't like to waste my time explaining you about the sri lankan politicians...........

The definition is  applicable if the really act accordingly........

All the brokers represent a firm... If you take capital trust we both know what they did to JKH.W last time..... How about GREG.W Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy

So no longer we can get advise from these people........... They only work under their firm agenda........... Most of the time they fool the innocent client..............

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Hi everyone.looks like early in the morning getting hot.

bounce bounce bounce bounce bounce bounce bounce bounce bounce bounce

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
There may be few advisers in broker firms in real term. Most of such people are nominal & just representatives. Out of professionalism & ethics.

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Hi everyone.looks like early in the morning getting hot.

bounce bounce bounce bounce bounce bounce bounce bounce bounce bounce
You mean temperature affraid affraid affraid affraid 

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics
Forum and Temperature both.


Razz Razz Razz Razz Razz Razz Razz Razz Razz Razz

Maxime


Senior Equity Analytic
Senior Equity Analytic
@PrasannaMani wrote:Ceylon Finance Today: Thai motorcycle leasing company Group Lease PCL yesterday (03) said that they had acquired a 29.99% or 95.3M share stake of Sri Lanka's listed Commercial Credit and Finance (stock code-COCR) for Rs 10,588,345,500 or Rs 10.5B.
The sellers will be BG Investments, Creation Investments and Stephen L. Lafrance Jr, they said. The selling price per share is Rs 111 and yesterday (3) COCR closed at
Rs 54.10 up Rs 1.40 or 2.66%. Group Lease which is a part of Japan's Wedge Holdings Co now has the right to buy the remaining 70 % in COCR if existing shareholders want to sell the stake, Chairman and Chief Executive Mitsuji Konoshita told an overseas joint news conference.

Commercial Credit and Finance (CCF) has assets of $500M, of which one-fifth is in the microfinance business, and expects a net profit of $22M this year, CCF Chief Executive Roshan S. Egodage said
Listed microfinance company Group Lease (GL) plans to collaborate further with CCF to strengthen its microfinance businesses in Indonesia and Cambodia after GL acquired a microfinance company in Myanmar from a CCF shareholder.
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar, a subsidiary of CCF, from BG International Private, a holding company based in Sri Lanka owned by Roshan S. Egodage, who is also chief executive officer of CCF.

GL chairman and CEO Mitsuji Konoshita said the transaction would be made via GL Holdings (GLH), its holding company in Singapore. Egodage said he decided to sell shares to GL because of strict restrictions by the Sri Lankan authorities on capital outflows. GL's successful digital finance business model will contribute to BG Microfinance's rapid expansion while the GL finance model will be implemented in all other countries where GL operates, especially Indonesia and Cambodia, where there are enormous growth opportunities, he said.
CCF does not have a footprint in Indonesia or Cambodia, so collaboration with GL will provide the Sri Lankan firm scope to broaden its operations, Egodage said. Konoshita said GL was ready to inject $6.8M into BG Microfinance to have branches in 12 districts in Myanmar, up from only three now.
"We hope that BG Microfinance's portfolio will dramatically increase from $30M to $40M next year, and monthly profit should increase by 10 times from the current total," he said. Myanmar is providing a big opportunity for GL as it is an emerging market and only five players including BG Microfinance are there, he said. Furthermore, authorities are not giving out any new microfinance or hire-purchase licences. Therefore, it is a great opportunity for GL to expand its market share.
GL recently announced net profit in the second-quarter of THB 255.85M, raising its total first-half profit to THB 478M.
(IG)
GL has recently signed a memorandum of understanding on the transaction with CCF to buy a 71.9-per-cent stake in BG Microfinance Myanmar.

COCR Mandatory offer Announcement Still Pending and Highly expecting at 111.00

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

Maxime


Senior Equity Analytic
Senior Equity Analytic

thanks for clear information,  COCR 74% takeover but mandatory offer still pending because of share holders approval any time this Announcement can come at 111.00

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Maxime wrote:

thanks for clear information,  COCR 74% takeover but mandatory offer still pending because of share holders approval any time this Announcement can come at 111.00


they are not taking 74%. 29.99% first time. maybe in future they will buy more quantity

if thy want they can go for mandatory offer buying another 32K stocks 

COCR is good stock better to collect at this level.

will see......

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

News Detail

Date/Time 01 Nov 2016 17:28:46
Headline Notification of the acquisitions of shares in Companies in Sri Lanka and Myanmar (revised)
Symbol GL
Source GL
Full Detailed News Download Full Detailed News
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:
News Detail

Date/Time 01 Nov 2016 17:28:46
Headline Notification of the acquisitions of shares in Companies in Sri Lanka and Myanmar (revised)
Symbol GL
Source GL
Full Detailed News Download Full Detailed News
http://www.set.or.th/set/pdfnews.do?newsId=14779584022520&sequence=0
Still working hard on COCR??????????? Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy

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