COMB Community

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voight
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Re: COMB Community

Postby voight » Sun Apr 23, 2017 9:38 am

I took some at 136-137 but I was also late to the party apparently. I miss the red days
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Re: COMB Community

Postby voight » Mon Apr 24, 2017 1:56 pm

EGM - RIGHTS ISSUE


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Re: COMB Community

Postby voight » Wed Apr 26, 2017 4:25 pm

ERRATA NOTICE FOR THE ABOVE POST


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Former Chief Justice joins COM Bank Board

Postby NUMBER CRUNCHER » Thu Apr 27, 2017 5:10 am

Former Chief Justice K. Sripavan has been appointed to the Board of Commercial Bank as an Independent Non-Executive Director from yesterday. He was the Chief Justice from January 2015-March 2017.

Untitled-2During this period he functioned as the Chairman of the Judicial Services Commission, Incorporated Council of Legal Education, Sri Lanka Judges Institute and Superior Court Complex Board of Management.

Sripavan enrolled as an Attorney-at-Law of the Supreme Court in 1977. He obtained a Diploma in Industrial Law from the University of Colombo in 1992 and a Master of Laws from the University of London in 1994.

He functioned as the Head of the Court of Appeal Unit of the Attorney General’s Department and handled a large volume of work both in the Court of Appeal and in the Supreme Court including Bills and Fundamental Rights applications. Prior to his elevation to the Court of Appeal Bench, he functioned as a Legal Consultant for the National Savings Bank for two years. He was appointed a Judge of the Court of Appeal in May 2002 and was elevated to the post of President of the Court of Appeal in March 2007 by the President. In March 2008 he was elevated to the Supreme Court Bench.

With the latest appointment, the Board of Directors of Commercial Bank Plc comprises K.G.D.D. Dheerasinghe (Chairman), J. Durairatnam (Managing Director/CEO), S. Swarnajothi, S. Renganathan, A.K.W. Jayawardane, K. Dharmasiri, L.D. Niyangoda, N.T.M.S. Cooray, G.S. Jadeja, T.L.B. Hurulle and K. Sripavan.

- See more at: http://www.ft.lk/article/611722/Former- ... BsIB1.dpuf
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Re: COMB Community

Postby Blue Whale » Thu Apr 27, 2017 11:50 am

Blue Whale wrote:ohh shit. This was a missed opportunity. #-o ~x(

The share was a strong BUY since 132/- now 144.50. I think it will move till 150/. A clear and risk free chance to make over 10% profit. I don't know who bought at 132/- but whoever bought are winners and should hold on till 150 is reached. it is my view.


Running to catch 150/- It is trying to match with 2016 price levels so hurry.
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Re: COMB Community

Postby Blue Whale » Fri May 05, 2017 12:45 pm

Now 145.50. Moving slowly but strong with good buying coming in.

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Re: COMB Community

Postby Blue Whale » Mon May 08, 2017 2:20 pm

147 cleared now. Commercial Bank's 52 week high was 151.90 and can it improves this mark further. At the moment the movement is very solid. No rushing but moving nicely while absorbing the selling.

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Re: COMB Community

Postby dhanurrox » Mon May 15, 2017 10:51 pm


PAT
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Re: COMB Community

Postby PAT » Mon May 15, 2017 11:15 pm

Sri Lanka's Commercial Bank March net profit up 17-pct

ECONOMYNEXT– Sri Lanka's Commercial Bank said March 2017 quarter group net profit rose 17.1 percent to 3.8 billion Rupees from a year ago, but the increased cost of funds had reduced margins.

Interest income rose 31 percent to 23.7 billion Rupees, while interest expenses rose faster, at 51 percent to 15 billion Rupees, at bank level.

Net interest income was up 6.8 percent to 8.7 billion Rupees over the period, according to interim accounts filed with the stock exchange.

“The bank reported profit of 6.341 billion Rupees before value-added tax and nation building tax, reflecting growth of 17.93 percent in the first quarter of 2016,” a statement said.

VAT and NBT for the three months reviewed increased 40.33 percent to 1.119 billion Rupees due to an increase in the VAT rate and higher profits earned during the period under review, it said.

“Consequently, profit before income tax for the quarter grew by at a lower percentage of 14.03 percent to 5.222 billion Rupees, while profit after tax is at 3.775 billion Rupees, increasing by 16.73 percent.”


The statement said that overall, the bank paid Rs 2.565 billion in taxes for the three months under review, an increase of 19.73% over the corresponding quarter of the previous year, which, coupled with the increased cost of funds this year, resulted in shrinking margins.

“We have learned to live with the reality of reduced margins and higher taxes, through our strong focus on operational excellence which continues to boost business volumes,” Commercial Bank Chairman Dharma Dheerasinghe said.

“The bank’s momentum in mobilising funds and lending has not slowed, even though the dynamics that apply to these areas are changing.”

Commercial Bank Managing Director Jegan Durairatnam said that although the bank’s Current and Savings Account (CASA) base had remained almost at the same levels, the new deposits mobilised cost significantly higher than those mobilised in the corresponding quarter of 2016.

“The ability of the bank to maintain its growth in this scenario reaffirms the emphasis we place on holistic management of our core business areas,” he said.
(COLOMBO, May 15, 2017)
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Re: COMB Community

Postby dhanurrox » Mon May 15, 2017 11:22 pm

Companies doing well.More gas for bulls

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Re: COMB Community

Postby Blue Whale » Tue May 16, 2017 5:34 am

COMB too meets my targets for 2017. Great to see that all my picks are performing exactly as I expected. Further Banking sector should do better in 2017.

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Re: COMB Community

Postby PAT » Wed May 17, 2017 9:40 pm

Commercial Bank of Ceylon PLC (COMB SL: LKR 148.00)

· Bottom line: Improved by 17% YoY to LKR 3.8bn aided by growth in net interest income (+8%), fee and commission income (+41%) and a fall in collective impairments (-82%).


· Net interest income (NII): Recorded a mild growth of 8%, as interest expenses grew over 50% YoY amidst the rising rate environment. Net interest margin (NIM) fell by 6bps during the period, while CASA ratio fell by ~38bps adding pressure on margin retention.


· Net fee and commission income: Recorded a healthy growth of 41% YoY for the period. Trade and remittance income, credit and debit cards and deposit services accounts for ~75% of COMB’s fee and commission income.


· Trading gains: Fell 23% YoY to LKR 789mn triggered by relatively lower volatilities in FX and higher SWAP costs, in our view.


· Impairment costs: Overall impairment costs fell by 75%, triggered by a sharp drop in collective impairments (A drop of 82% = LKR 936mn)


· VAT and NBT: Rose by 41% for the period, primarily on account of increase in VAT rate from 11% to 15%.


· Asset quality: Has overall seen a mild deterioration in the rising rate climate.


· Loan Growth: Recorded at 4.0%, with the Group disbursing LKR 27bn (net of re-payments) during the period. Term loans and overdraft advances were the main growth drivers.


· Deposits: Growth was recorded at 6.0% for the period, while the CASA ratio fell by 38bps to 41.34%.


· Margins: ROA and ROE recorded at 2.06% (FY 16 – 2.12%) and 19.37% (FY 16 – 19.52%)


· Capital Ratios: Tier 1 ratio has fallen by 50bps to 11.10% subsequent to the payment of second interim dividend for FY 2016 (~LKR 2.7bn). Total capital ratio also declined by 70bps to 15.31%.


· Valuation: The voting share trades at 1.7x PBV (Sector 1.2x) at the reported NAVS of LKR 88.98 per share. The non voting share trades at 1.3x book.

Bartleet Religare Securities (Pvt) Ltd
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Re: COMB Community

Postby Blue Whale » Wed May 17, 2017 10:50 pm

Thanks PAT.
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Re: COMB Community

Postby sashimaal » Wed May 24, 2017 11:31 am

10M crossing at Rs 138
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Re: COMB Community

Postby Blue Whale » Wed May 24, 2017 11:37 am

Yes. From 148/- to 138/- drop was to collect some in big is my view on this share.
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Re: COMB Community

Postby voight » Wed May 24, 2017 1:39 pm

BW, Can we expect an upward movements as we are getting to closer to June 1rights allotment provided that ASPI will be on a upward trajectory ?
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Re: COMB Community

Postby Blue Whale » Wed May 24, 2017 2:28 pm

I see an arbitrage opportunity here.
Look the below calculation.

Share price just before the XR was 145.2
Right issue was 1 for 10 @ 113.6
Theoretical ex-rights price should be (145.2*10+113.6)/11 = 142.3
Yesterday closing market price was 136.50 so compared to the theoretical price that price was at a discount of 4%
Now today's trading price increased to 139/- and I think this is purely because of this over adjustment.
So coming days we can see the price coming to 142.3 levels and form there onwards to commence the appreciation towards the short term target of 150/-

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Re: COMB Community

Postby voight » Wed May 24, 2017 3:08 pm

Yep. Agreed

Thanks BW
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Re: COMB Community

Postby mdcpk » Tue May 30, 2017 12:46 pm

Mercantile Investments and Finance sold out their holdings of COMB today.. Hope It would be a foreign buy.

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Re: COMB Community

Postby Blue Whale » Tue May 30, 2017 1:11 pm

What was the price.
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Re: COMB Community

Postby Contra » Tue May 30, 2017 3:21 pm

Will it wake up again to pass Rs.140?
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Re: COMB Community

Postby Blue Whale » Tue May 30, 2017 3:30 pm

I think it should once the market recovers from current consolidation.
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Re: COMB Community

Postby voight » Tue Jun 06, 2017 2:45 pm

This is the first time I'm dealing with RI in CSE. Can some one explain me why I dont have any rights allocated on my CDS A/C for trading ? I have COMB for over a year now :-??
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Re: COMB Community

Postby Blue Whale » Tue Jun 06, 2017 2:52 pm

voight wrote:This is the first time I'm dealing with RI in CSE. Can some one explain me why I dont have any rights allocated on my CDS A/C for trading ? I have COMB for over a year now :-??


You should have received the form of acceptance and renunciation by now.

If you want to trade your right then fill the form B of the letter you receive and hand it over to your stock broker. They will send it to CDS. Once CDS got the forms they will credit your rights entitlement into your CDS account.

Thereafter you can trade. :-bd
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Re: COMB Community

Postby voight » Tue Jun 06, 2017 3:07 pm

Blue Whale wrote:
voight wrote:This is the first time I'm dealing with RI in CSE. Can some one explain me why I dont have any rights allocated on my CDS A/C for trading ? I have COMB for over a year now :-??


You should have received the form of acceptance and renunciation by now.

If you want to trade your right then fill the form B of the letter you receive and hand it over to your stock broker. They will send it to CDS. Once CDS got the forms they will credit your rights entitlement into your CDS account.

Thereafter you can trade. :-bd


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