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

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Advertise

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Please explain this -VONE

Please explain this -VONE

Go down  Message [Page 1 of 1]

1Please explain this -VONE Empty Please explain this -VONE on Tue Nov 15, 2016 7:30 pm

happybulls

happybulls
Equity Analytic
Equity Analytic

However, with effect from 31 July 2016, Mr. Dhammika Perera relinquished as Chairman of Sampath Bank PLC since he completed his term of nine years as a Director. Consequently, the Board of directors of Vallibel One PLC decided that the existence of significant influence over Sampath Bank PLC by Vallibel One PLC was no longer applicable as per the provisions of LKAS 28.Hence, the Company discontinued the use of equity method of accounting and in terms of LKAS 39 decided to exercise the option to treat the investment as being available for sale. Accordingly the effect of mark to market value of Rs.828 Mn as at 31st July 2016 and share of profits of Rs.2,469 Mn which were recognized in previous years were reversed in this quarter’s statement of income.

The total Loss of Vallibel One PLC after considering the reclassification to Available For Sale financial Assets is Rs. 451 Mn. However if the results of Sampath Bank PLC and the adjustments resulting from the reclassification is not considered, the Vallibel One PLC would have earned a total profit of Rs.3,053Mn

2Please explain this -VONE Empty Re: Please explain this -VONE on Tue Nov 15, 2016 8:17 pm

EquityChamp

EquityChamp
Moderator
Moderator
Is this a note to the accounts or a part of an article?

3Please explain this -VONE Empty Re: Please explain this -VONE on Tue Nov 15, 2016 8:20 pm

happybulls

happybulls
Equity Analytic
Equity Analytic
Dear EC

This was taken from the notes of the q2 finacial statements? Can you explain this please ?

4Please explain this -VONE Empty Re: Please explain this -VONE on Thu Nov 24, 2016 1:07 pm

sampath.anuradha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@happybulls wrote:Dear EC

This was taken from the notes of the q2 finacial statements? Can you explain this please ?

https://forum.srilankaequity.com/t53323-sri-lanka-listed-company-profits-up-11-pct-market-re-rated-down-data#330445

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum