LIOC Community

lukedesilva
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Re: LIOC Community

Postby lukedesilva » Thu May 10, 2018 9:31 pm

LIOC also increases fuel prices

The Lanka-IOC will increase fuel prices following the increase of CPC fuel prices with effect from midnight today, LIOC Managing Director Shyam Bohra said a short while ago.

He told the Daily Mirror that the calculations with regard to prices increase would be concluded by 7 pm today and accordingly they would arrive at a final decision on the increasing rates.

“The fuel hike is certain but the rates will be somewhat differ from the CPC fuel prices,” he said.

http://www.dailymirror.lk/article/LIOC- ... 49741.html

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Re: LIOC Community

Postby lukedesilva » Thu May 10, 2018 9:33 pm

:ymsmug: Will they allow LIOC to under cut and deliver us a windfall.

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Re: LIOC Community

Postby Blue Whale » Fri May 11, 2018 7:42 am

According to new price revisions some grades of petrol and diesel prices of LIOC are couple of rupees above CPC prices.
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Re: LIOC Community

Postby lukedesilva » Fri May 11, 2018 9:30 am

LIOC fuel prices increased

http://www.dailymirror.lk/article/LIOC- ... 49758.html

“Although LIOC had increased the prices of Petrol and Diesel marginally with effect from March 24, the company was still suffering huge under-recoveries, as the price hike was only partially done. Implementation of a pricing formulae for Auto Fuel is a welcome step in the interest of the country,” the statement said.

OMG ...... more to go.

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Re: LIOC Community

Postby PAT » Fri May 11, 2018 9:49 am

37 to 35.50 within few minutes

Is it fake selling
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Re: LIOC Community

Postby nuwandwo » Fri May 11, 2018 2:35 pm

PAT wrote:37 to 35.50 within few minutes

Is it fake selling


Or some retail investors bought around 36.5 to 37 levels & now being packed. Because y day we saw how price was appreciated rapidly. :-? :-?

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Re: LIOC Community

Postby SHARK » Fri May 11, 2018 4:06 pm

love to see more buying building about in an around 35 ~ 35.5 ;;)
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Re: LIOC Community

Postby SHARK » Thu May 17, 2018 10:32 am

Traders have opportunity @33
More qtys required below 35.
We need to be patience with overall lackluster sentiments in CSE.
Expect close to double digit EPS by 31.3.19 thats 1 year from now.
In my opinion one of the safest alongside LGL ..... with price formula now.
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Re: LIOC Community

Postby SHARK » Fri May 18, 2018 4:19 pm

The International Monetary Fund has commended the automatic fuel pricing mechanism introduced by the government recently.

Speaking at a media breifing yesterday a member of the IMF Communications Department Gerry Rice said the automatic fuel pricing mechanism marks a major step towards completing the energy pricing reforms underway in Sri Lanka.

Rice said the price formula also minimizes the fiscal risks.

The IMF said if implemented properly, the formula based pricing would eliminate fuel subsidies that benefit the rich rather than the poor.

Gerry Rice also stated that the fuel pricing mechanism will benefit Sri Lanka and the country’s economy.

He also noted that the IMF is due to hold talks with the government on the completion of the fourth review on the 1st of June.

In April the IMF stated subject to Cabinet approval of an automatic fuel pricing mechanism, the Board is expected to consider Sri Lanka’s request for completion of the fourth review in June 2018.

The measure the Monetary Board said would represent a major step towards completing energy pricing reforms in 2018.
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Re: LIOC Community

Postby Blue Whale » Fri May 18, 2018 7:12 pm

Will the same mechanism follows for electricity. ..
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Re: LIOC Community

Postby lukedesilva » Sat May 19, 2018 11:12 am

Get all the increases done as soon as possible and then have a welfare budget . Only way I think the current regime will have any chance of getting some where with the next major election. Or has the horse already bolted.

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Lanka IOC prepared to set own fuel prices to minimise losses

Postby sashimaal » Mon May 21, 2018 4:24 pm

2018-05-21

REUTERS: Sri Lankan fuel retailer Lanka IOC will be forced to implement its own pricing mechanism to minimise losses if the government fails to implement its proposed fuel price formula, the company said on Friday.


The move by Lanka IOC, a subsidiary of India’s IOC, comes after the government failed to increase fuel prices charged by state-owned Ceylon Petroleum Corp (CPC) in line with rising global oil prices.


On March 24 Lanka IOC raised its prices because of losses incurred after the government’s failure to implement a pricing formula for CPC. Finance Minister Mangala Samaraweera last week said that the Cabinet has approved a price formula with revisions every two months. The government raised fuel prices last week after Lanka IOC raised its prices.


“Cabinet approval is there, but the pricing of petroleum is a very touchy issue across the globe and the same is the case in Sri Lanka,” Lanka IOC’s Managing Director Shyam Bohra told Reuters.


“If the proper pricing mechanism is in place, we will follow it. If it is not, then we will have to sell our products at the cost plus whatever actuals are there.” Lanka IOC posted a loss of Rs.755.6 million (US$4.79 million) in the year to March 31, against a Rs.3.07 billion profit in the previous year, mainly because of high global oil prices in conjunction with low retail prices for fuel.



“Most likely it will be that we will have to have our own prices. We can’t keep on losing money,” Bohra added.


President Maitripala Sirisena’s coalition government, which has pressed ahead with unpopular fiscal reforms since coming to power in 2015, has been hesitant to implement the fuel price formula before local elections.


The coalition partners suffered a humiliating loss in local government polls in February.


Bohra said the government has yet to inform the company about the new pricing formula and said it should also be transparent for the public.


The government had agreed in principle with an International Monetary Fund (IMF) requirement to implement the pricing formula in return for a US$1.5 billion three-year loan approved in 2016.


The IMF on Thursday said that if the pricing formula is implemented properly, it “would eliminate fuel subsidies that benefit the rich rather than the poor”.


“We think that an automatic fuel pricing mechanism marks a major step towards completing the energy pricing reforms that are under way in Sri Lanka, and minimises the fiscal risks,” said Gerry Rice of the IMF’s Communications Department.
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Re: LIOC Community

Postby Blue Whale » Mon May 21, 2018 5:33 pm

So this tells me that still IOC making losses even after the price increase.
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Re: LIOC Community

Postby lukedesilva » Mon May 21, 2018 5:58 pm

Yes they are !

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Re: LIOC Community

Postby SHARK » Mon May 21, 2018 6:06 pm

No i think they are making under revoveries on one product. And rest is ok. This should get adjusted over the next 11 months. Idea is that rapid shocks must not be made to the economy.
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Re: LIOC Community

Postby lukedesilva » Mon May 21, 2018 6:55 pm

Debatable.

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Re: LIOC Community

Postby SHARK » Mon May 21, 2018 7:32 pm

Below extract from DM.

While welcoming the Government's decision to allow fuel prices to change in line with international prices, the Lanka IOC company increased fuel prices today.

Accordingly, the latest price of a litre of Lanka Auto Diesel is Rs.111, Xtra MILE is Rs.114, Lanka Super Diesel is Rs.119, Lanka Petrol (92) is Rs.137, Xtra Premium EURO 3 is Rs.143 and Xtra Premium 95 is Rs.151.

Issuing a statement, the company said the current revision in the prices of Auto fuel by the government will assist the oil companies to partially mitigate their losses on the sale of Petrol and Diesel.

“Even after the increase in Lanka Auto Diesel prices, LIOC will still have to bear an under-recovery of Rs.10/litre at prevailing international prices,” it said.

Anyhow they are well positioned to perform better than last year.
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Re: LIOC Community

Postby Blue Whale » Tue May 22, 2018 7:13 am

All are depending on practical implementation of the price formula. Till then we will see more ups as well as downs favoring the traders.
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Re: LIOC Community

Postby SHARK » Tue May 22, 2018 8:23 am

the annual report might give clues..... therefore recommended any new buyers to wait. further existing holders can play and time their trades for frequent gains.
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Re: LIOC Community

Postby IOSirisena » Fri May 25, 2018 5:33 pm

Cabinet approval only for fuel pricing mechanism: Arjuna
2018-05-24-Daily Mirror


Petroleum Resources Development Minister Arjuna Ranatunga this week told reporters that the Cabinet approval has only been granted for a fuel pricing mechanism and not for a formula, as claimed by the Finance and Mass Media Ministry.


According to the Cabinet-approved fuel pricing mechanism, he noted that the government has the authority to decide to what extent the fuel prices should be increased or decreased.


The minister said when the oil prices are falling in the world market, the government would provide the full benefit to the public.

However, when the oil prices are skyrocketing in the world market, the government has the discretion to decide to what extent the adverse impact of it would be transferred to the public.


He averred that the government needs to have the discretion to decide on the fuel prices to minimise the adverse economic and social impact of high fuel prices on the public.


The Finance and Mass Media Ministry, with a substantial increase in fuel prices early this month, announced that Sri Lanka would reprice fuel every two months, utilizing a formula based on the Platts Singapore benchmark prices.


Expressing his personal opinion, Ranatunga said that Ceylon Petroleum Corporation should focus on public welfare rather than generating profits.

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Re: LIOC Community

Postby SHARK » Thu May 31, 2018 9:38 am

Next revision on July 5th.
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Re: LIOC Community

Postby lukedesilva » Thu May 31, 2018 9:45 am

If they do it so soon it will be a major miracle.

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Re: LIOC Community

Postby SHARK » Thu May 31, 2018 10:19 am

lukedesilva wrote:If they do it so soon it will be a major miracle.
if things sail smoothly there is a mid term target 40-45 within 1 year. Lioc can make a net profit of 3Bil minimal for 2018/19.
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Re: LIOC Community

Postby SHARK » Fri Jun 01, 2018 9:24 pm

ECONOMYNEXT - Sri Lanka's vehicles registrations grew 21 percent from a year earlier to 40,428 units in April 2018, driven by small cars and motorcycles, an analysis by an equities research houses shows.

Motor cars led by Suzuki Wagon-R vehicles rose 107 percent to 5,190 units in April 2018 from a year earlier after a tax change, JB Securities, a Colombo-based brokerage shows.

Vans also rose 36 percent to 1,020 units.

Motorcycles purchased by less-affluent persons to gain mobility, rose 13.8 percent from a year earlier to 29,855 units.

Sri Lanka's people had been hit by continuous currency deprecation which tends to eat away purchasing power by pushing up the price of traded goods.

Three-wheeler registrations was flat at 1,469 units, hurt by an urban-elitist tax, credit restrictions on top of currency depreciation.

JB Securities said three wheelers were no longer affordable to the less-affluent, at a price of 755,000 of which 420,000 could be taxes.

Three wheelers are held in contempt by car-owning urbanites, though they play a vital role for people's mobility of in rural regions now.

So-called re-conditioned cars were 5,047 units in April up 198 percent from a year earlier with small cars with less than 1,000 cubic centimetre engines dominating, JB Securities said.

However larger Toyota cars such as Axio hybrids were also up. (Colombo/June01/2018)
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Re: LIOC Community

Postby SHARK » Fri Jun 08, 2018 9:35 am

interestingly RSI dropped from 72 to 55 on the daily chart from 16th april till yesteday. the price is almost same, if we looked at the closing prices of the 2 dates.
what i suspect is that there is expectation from across the broadbase, the company to increase its net earnings, hence the price holding above the mid 33s.

on the weekly chart RSI has moved from oversold 27 to 55 as of todate from 18 dec 2017. and the price moved from 26 to 34.

the trend looks rising on the weekly chart as well.
:-bd

the positive trajectory holding well for the surge in almost both time frames.....
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