Weekly Plus - 2013 Issue 33 (16.08.2013)

7/27/2019 Weekly Plus - 2013 Issue 33 (16.08.2013)

1/12

2013 Issue 33 Week Ending 16-08-2013

Weekly Market Wrap UpStat Page Pg 02

Weekly Stock Trends Pg 03

S&P SL20 Watch Pg 04

Local Economy in BriefCurrency Moves Pg 05

Inflation & Interest Rates Pg 06

Colombo Tea Auction Pg 06

Tourism Pg 06

Global MarketEquity Market Outlook Pg 07

Global Commodity Trend Pg 08

Research Chat:Hatton National BankQuick View on Earnings Pg 09

Our Core Coverage Pg 10- Pg 11


2/12

Current WoW %

ASPI 6233.21 1.3%

S&P SL20 3491.55 0.6%

Turnover (LKR 'bn) 3,964.7 116.6%

Volume ('mn) 143.4 57.2%

Market Cap. (LKR 'bn) 2,567.3 8.4%

LKR ('mn) Current WoW %

Foreign Purchases 2,243.7 141.3%

Foreign Sales 1,254.9 121.2%

Net Foreign Inflow 988.8 172.8%

Foreign Participation 21% -46.9%

Net Foreign 295 989

Current WoW %

PER 17.7 8.4%

PBV 2.4 8.4%

DY 2.5 0.0%

Current WoW %

BANKS FINANCE & INS. 13,097.1 0.1%

BEV. FOOD & TOBACCO 22,656.4 7.6%

CHEM. & PHARMA. 6,768.1 -2.8%

CONS. & ENG. 2,899.0 1.2%

DIVERSIFIED 1,911.8 -1.3%

HEALTH CARE 655.9 -0.9%

HOTELS & TRAVELS 3,219.4 -0.7%

HNB[X.0000] (+) 28.92% JKH -0.43% LAND & PROPERTY 572.1 -0.5%

SAMPATH (+) 10.00% CEYLON TOBACCO (+) 0.00% MANUFACTURING 3,053.6 -0.2%

HNB (+) 2.40% COLOMBO LAND (+) -0.15% MOTORS 15,518.4 -0.3%

COMMERCIAL BANK (+) 0.36% KELANI TYRES -0.9% PLANTATIONS 720.1 -0.2%

NESTLE (+) 0.09% HEMAS POWER -2.62% TELECOM 160.9 -0.7%

-971

574.9

Change in Foreign Holding

Decline in

Value

LKR 'mn

Decline in Foreign Holding

Growth in

Foreign

Holding

Growth in Foreign Holding

2,865.0

1,937.8

661.6

6,963.3

-533.6

Weekly Stat Page

Previous

Weekly Market Statistics

Weekly Foreign Flow

Weekly Market Valuations

Weekly Sector Statistics

Decline in

Foreign

Holding 3,241.3

3,060.1

15,557.9

Previous

6151.92

721.8

162.0

3470.16

1,830.6

16.3

2.2

2.5

Previous

13,084.4

21,055.6

362.4

40%

929.7

567.3

91.2

2,367.5

Previous

-4.4

-3.9

-1.6

362

Growth in

Value

LKR 'mn

631.4

347.6

235.3

118.0

108.5

-5.5

5,800

5,900

6,000

6,100

6,200

6,300

Daily Index Movement

ASPI

0

50

100

150

200

0

1,000

2,000

3,000

4,000

5,000

26-Jul 2-Aug 9-Aug 16-Aug

('Mn)

LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

500

1,000

1,500

2,000

2,500

26-Jul 2-Aug 9-Aug 16-Aug

LKR('Mn)

Weekly Foreign Purchases and Sales

Foreign Buying Foreign Sales

0%

10%

20%

30%40%

50%

60%

Daily Foreign Activity

Fo re ign Activity Line ar (F oreign Activity)

Page | 2


3/12

Company WoW %

AUTODROME 18.27%

CEYLON PRINTERS 17.60%

SWADESHI 17.50%

CARGO BOAT 15.46%CEYLON TOBACCO 13.68%

Company WoW %

PCH HOLDINGS -36.36%

PC HOUSE -30.00%

SERENDIB LAND -24.71%

CITRUS HIKKADUWA -22.48%

CIFL -18.18%

Company WoW %

JKH -2.84%

HNB[NON VOTING] 2.89%

SAMPATH -1.94%

AITKEN SPENCE -0.16%

HNB 1.64%

Company WoW %

PC HOUSE -30.00%

PCH HOLDINGS -36.36%

PANASIAN POWER 13.64%

EXPOLANKA 8.82%

HNB[NON VOTING] 2.89%

811.00

5,000.30

69.40670.00

52 High 52 Low

52 High 52 Low

12.50 0.50

8.40 0.50

3,000.00 1,105.00

29.80 16.80

11.80 0.80

8.40 0.50

132.50 92.50

242.00 162.50

1,025.00

3,270.00

15,000.00

151.001,400.50

2.20

6.80

110.50

Low

849.70

1,500.00

52 High

12.50

299.80

14,000.00

101.001,195.00

20.00

0.80

250.00

110.50

190.00

120.10

151.30

Weekly Top Losers

Weekly Top Performers

Weekly Top Volume

Low

Low

Low

0.50

0.50

1,310.00

2,991,358

1,602,361

Volume

Turnover

760,982,423

727,333,098

436,667,329

370,885,585

Volume

2,944,557

6,326,948

140.00

52 Low

0.50

192.20

6,326,948

0.50

0.50

19,226,793

10,830,128

9,408,727

6,623,843

176.00

3.30

8.10

132.50

130.10

2.20

5.80

92.50

100.00

2,232,454

High

1,025.00

1,600.00

14,200.00

134.101,400.50

Turnover

2,124,931

16,600

28,200

6,506,32686,776,519

Volume

2,455

11

2

51,88166,299

Previous

846.20

1,283.30

12,000.00

115.101,201.00

Current

1,000.80

1,509.10

14,100.00

132.901,365.30

Weekly Stock Trends

52 Low

406.00

Weekly Top Gainers

52 High

Turnover

7,871,920

14,889,684

6,550

108,219

5,552,419

Volume

10,830,128

19,226,793

5

5,402

5,930,473

High

1.10

1.10

1,310.00

24.50

1.10

152.50

Previous

1.10

1.00

1,740.00

25.80

1.10

High

265.00

116.00

Previous

264.30

110.90

Current

0.70

0.70

1,310.00

20.00

0.90

Current

256.80

114.10

191.80

122.00

155.00

Turnover

14,889,684

7,871,920

Previous

1.00

1.10

245,781,928

198.00

125.00

157.00

195.60

122.20

22,529,008

47,176,190

727,333,098

High

1.10

1.10

2.60

7.50

116.00

2.20

6.80

110.90

Current

0.70

0.70

2.50

7.40

114.10

Page | 3


4/12

DIVIDENDS

RIGHTS ISSUE

The Kingsbury

Pelwatte Sugar

S&P SL20 Companies Previous WoW % ###

JOHN KEELLS HOLDINGS 264.30 -2.84% ###

COMMERCIAL BANK 119.00 0.42% ###THE BUKIT DARAH 690.00 0.00% SCRIP DIVIDEND

HATTON NATIONAL BANK 152.50 1.64%

CARSONS CUMBERBATCH 400.00 -1.75%

SAMPATH BANK 195.60 -1.94%

CEYLON TOBACCO COMPANY 1,201.00 13.68%

DFCC BANK 130.80 -0.99% CAPITALIZATION OF RESERVES

AITKEN SPENCE 122.20 -0.16%

NATIONAL DEVELOPMENT BANK 160.10 1.31%

C T HOLDINGS 140.10 0.00%

DISTILLERIES 194.90 -1.13%HAYLEYS 302.00 -0.66% SUBDIVISION OF SHARES

CHEVRON LUBRICANTS LANKA 310.50 -0.81%

DIALOG AXIATA 8.70 -1.15%

CARGILLS (CEYLON) 160.00 -5.00%

AITKEN SPENCE HOTEL HOLDINGS 70.00 -1.43% CONSOLIDATION OF SHARES

NESTLE LANKA 2,251.40 8.43%

ASIAN HOTELS & PROPERTIES 70.00 2.71%

SRI LANKA TELECOM 41.00 -0.24%

370,885,585

10,972,497

1,213,508

1,475,709

8,428,560

2,229,888

1,032,107

627,262

170,400,746

71,741

505,595

0-Jan-1900 0-Jan-1900

08-08-2013

0 0

0-Jan-1900 0 0

12-08-2013

0-Jan-1900 0-Jan-1900

5,288,800

0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900

Company Proportion EGM Date Trading Date

0-Jan-1900

Company Proportion

5,775,370

245,781,928

2,549,947

0-Jan-1900

Kandy Hotels Company

Dankotuwa Porcelain

15-08-201303 for 08 @ LKR10.0

01 for 04 @ LKR18.0

0Turnover

760,982,423

Company

XD Date

436,667,329

86,776,519

0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900

0-Jan-1900

0-Jan-1900

XD DateEGM DateProportionCompany

0-Jan-1900

0-Jan-19000-Jan-1900

133,388,6141,525,307

S & P SL20 Debrief

Proportion

Announcements

Company Dividend (LKR)

02-09-2013

12-09-2013

04-10-2013

24-09-2013

1.00Lanka IOC PLC

Convenience Foods Lanka PLC

Harischandra Mills PLC

16-09-2013

20-09-2013

23-09-2013

25-09-2013

30-09-2013

01-10-2013

Payment

Lanka Ventures

Elpitiya Plantations

1.50

25.00

0

Renuka Agri Foods PLC

0-Jan-19000-Jan-1900

0-Jan-1900

EGM Date Trading Date

2,441.30

71.90

40.90

Delayed

0

10-09-2013

20-09-2013

02-10-2013

Tokyo Cement Company 01 for 10 @ LKR17.35

Company Proportion EGM Date XC Date

0-Jan-19000-Jan-1900

0-Jan-1900 0-Jan-1900

0-Jan-1900

0-Jan-1900

0

0

0-Jan-1900

0

26-09-2013

02-09-2013

Delayed

27-09-2013

0.10

0.02

0.40

1.00

0.50

00

0

0

07-10-2013

Renunciation

0

XR Date

Current

256.80

119.50690.00

155.00

393.00

191.80

1,365.30

129.50

122.00

162.20

140.10

192.70300.00

308.00

8.60

152.00

69.00

3,300

3,350

3,400

3,450

3,500

3,550

Daily Index Movement

S&P SL20

Page | 4


5/12

Local Economy

CURRENCY MOVES

122

124

126

128

130

132

LKR USD : LKR

1.15

1.20

1.25

1.30

1.35

1.40

LKR Japanese Yen : LKR

155

160

165

170

175

180

LKR EURO : LKR

96

98

100

102

104

106

LKR Singapore Dollar : LKR

180

185

190

195

200

205210

LKR GBP : LKR

2.05

2.10

2.15

2.20

2.25

2.30

LKR Indian Rupee : LKR

Page | 5


6/12

BALANCE OF TRADE TOURISM

For the Month Ending: May-13 For the Month Ending:

May-13 MoM % May-12 2013 2012

Exports 794 14% 806 Jun-13 73,628 65,245

Imports 1,549 2% 1,575 YTD 512,281 452,867

Balance of Trade -755 9% -769

COLOMBO TEA AUCTION STATISTICS

Sale of

07-Aug-13 WoW %

High Grown 392.57 3.20%

Mid Grown 383.46 4.19%

Low Grown 446.96 -1.57%

Total 430.11 0.14%

COLOMBO RUBBER AUCTION STATISTICS

For the Month Ending: Jul-2013

Jul-13 Basis Points Sale of

Point to Point 6.1% 70 08-Jun-13 WoW %

Annual Average Chang 8.3% 30 RSS 1 411.50 0.00%

1-Yr T-Bill 10.56% 181 Brown Crepe 1X 410.00 0.00%

YoY %

Change %

380.00

380.00

YoY %

-1%

Elevation

-4.01%

10.21%

12.69%

31- JUL-13

380.38

697

1,522

13%

13%

9.55%

7.89%

8.29%

WoW %

-2%

2%

408.97

347.95

396.63

392.61

Local Economy

Elevation

Jun-13

INFLATION & INTEREST RATE

Apr-13

-825

Sale of

Sale of

18-Jun-13

Corres. 2012

368.05

454.11

429.51

Jun-13

6.8%

8.6%

12.37%

Sale of

30-Jul-13

411.50

410.00

-1,200

-800

-400

0

400

800

1,2001,600

2,000

Balance of Trade

Exports Imports Balance of Trade

20,000

40,000

60,000

80,000100,000

120,000

140,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Tourist Arrivals

2010 2011 2012 2013

2%

4%

6%

8%

10%

12%

14%

Jul-13May-13Mar-13Jan-13Nov-12Sep-12Jul-12

Inflation and Treasury Bill Rate

1-Yr T-Bill Point to Point Annual Average Change

Page | 6


7/12

EQUITY MARKET OUTLOOK

Global Markets

14,000

14,500

15,000

15,500

16,000

Index

Dow Jones Industrial Average

5,600

5,800

6,000

6,200

6,400

6,600

6,800

7,000

Index FTSE 100 Index

1,500

1,550

1,600

1,650

1,700

1,750

Index S&P 500 Index

7,000

9,000

11,000

13,000

15,000

17,000Index Nikkei 225

2,300

2,400

2,500

2,600

2,700

2,800

2,900IndexEURO STOXX 50 Price EUR

18,000

19,000

20,000

21,000

22,000

23,000Index Hong Kong Hang Seng Index

Page | 7


8/12

WTI Crude USD/bbl 107.39 1.1%

Gold USD/t oz. 1,361.90 2.7%Copper USd/lb. 336.85 2.1%

Cotton USd/lb. 92.45 4.5%

Wheat USd/bu. 648.25 0.6%

GLOBAL COMMODITY TREND

88.46

644.50

CommodityThis

Week

Last

Week

WoW

Change

1,325.70329.85

Global Markets

106.25

80

85

90

95

100

105

110

USD/bbl

WTI CRUDE FUTURE

70

75

80

85

90

95

USd/lb. COTTON NO.2 FUTURE

1,0501,1001,1501,2001,2501,3001,3501,4001,450

USD/t oz.

GOLD 100 OZ FUTURE

600

620

640

660

680

700

720

USd/bu. WHEAT FUTURE(CBT)

280

290

300

310

320

330

340

USd/lb.

COPPER FUTURE

Page | 8


9/12

Softlogic Equity ResearchPage | 9

HNB recorded net earnings of LKR2.2bn in 2Q2013, 26%YoY growth, supported by growth in NII (up 19%YoY) amidst steady

growth in loan book. Drop in personnel expenses resulting from one off reversal of provision by liquidating Employee

Share Benefit Trust (ESBT) was set off by increased impairment provisioning led by providing 100% for individually

insignificant loans on a conservative note consequently Gross NPA increased to 4.5% (cf.3.7% in FY2012).

Growth in NII due to expansion of loan book: HNB recorded a 19% YoY growth of Net Interest Income led by expansion in loan

book of 15% YoY and 6% QoQ. Interest income grew by 27% YoY while Interest expense increased by 35% YoY. HNB also

experienced a marginal expansion in NIMs to 5.4% in 2Q2013 from 5.3% in 4Q2012 and 4.8% in 2Q2012.

Winding down of ESBT and conservative provisioning policy set-off earning gains: Dip in operating expenses was heavily supported by the liquidation of the Employee Share

Benefit Trust which resulted in a 75% drop in personnel expenses (LKR1.5bn drop) as per the direction of CSE. However this gain would be one-off and will not be recorded in future

earnings. Adjusting for ESBT Cost-to-Income ratio recorded a minor improvement at 57.1% in 1H2013 cf.57.4% in 2H2012. In 2Q2013, collective impairment recorded a notable hike

of 245%YoY to LKR1.5bn due to its new policy of 100% provisioning for individually insignificant loans on a conservative note and increased NPA to 4.5% in 2Q2013 cf. 3.7% in 2012.

Similarly, in 1H2013 collective impairment reported a hike of 186% YoY.

We marginally downgrade our earnings to LKR9.2bn (+14.1%YoY) from LKR9.6bn for 2013E and to LKR 10.9bn

(+17.8%YoY) from LKR11.1bn in 2014E.We maintain our loan growth at 18% for 2013E while we have marginally

reduced NIMs as we expect interest rates to flatten out for the rest of the year. We continue to expect that cost toincome will continue to reduce signaling further signs of improvement but at a slower pace. We believe the bank is

likely to experience higher impairment in loan book in the next couple of quarters as well due to 100% provisioning

and more impairment from pawning segment.

Our Corporate update highlighted a Strong Buy rating for both Voting and Non-Voting counters. With the

marginal down grade in earnings, we slightly downgrade our target price to LKR245.0 for voting share and

LKR170.0 for non-voting at the end of 2014E.Amidst the strong returns the counters are likely to generate for the

investors we maintain our rating for both counters Voting and Non-Voting as Strong Buy.

LKR ('mn) 2Q2013 2Q2012 YoY % 1Q2013 QoQ %

Net Intrest Income 6,610 5,563 19% 6,261 6%

Total Operating Income 8,435 7,258 16% 7,933 6%

Opearing profit before VAT 3,625 2,726 33% 2,233 62%

Profit before tax 3,224 2,424 33% 1,813 78%

Profit for equity holders 2,150 1,698 27% 1,262 70%

Quarterly Performance


10/12


Name Y/E Rec Mkt Price NAVPS P / BV DPS

14-Aug-13 M ar '1 2 M a r' 13 M ar '1 4E M ar '1 5E M ar '1 2 Ma r' 13 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3

( 'M n) ( 'M n) ( 'M n) D ec '1 1 D e c' 12 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 3E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 2

Banking, Finance & Insurance

Ce ntra l F in an ce CF IN .N 0000 M Buy 185.00 16,109 104.9 19,403 153.59 1.20 2,675 3,041 3,437 3,829 3,057 25.51 2 9.00 3 2.77 3 6.51 29.14 46 14 13 11 7.3 6.4 5.6 5.1 6.3 2.9 1.6 16.6

Ceyl inco Insura nce CINS.N0000 D 1,299.00 14,202 26.4 34,312 537.64 2.42 1,508 1,953 2,006 57.08 73.94 75.96 57 30 22.8 17.6 17.1 1 2.5 1.0 10.6

Co mm erc ia l B an k CO MB .N 00 00 D Buy 119.50 52,962 848.7 101,414 62.41 1.91 8,048 10,080 11,806 14,510 9,462 9.48 11.88 13.91 17.10 11.15 46 25 17 23 12.6 10.1 8.6 7.0 10.7 4.5 3.8 15.2

C om m er ci a l B a nk [ X] C OM B. X0 00 0 D Buy 95.00 52,962 848.7 80,622 62.41 1.52 8,048 10,080 11,806 14,510 10,056 9.48 1 1.88 13.91 1 7.10 11.15 46 25 17 23 10.0 8.0 6.8 5.6 8.5 4.5 4.7 15.2

DFCC Bank DFCC.N0000 M MTB 129.50 28,139 265.1 34,330 106.14 1.22 2,900 3,523 3,453 3,915 3,523 10.94 13.29 13.02 14.77 13.29 (43) 21 (2) 13 11.8 9 .7 9.9 8.8 9.7 5.0 3.9 10.3

H a tt on N a ti o na l B a nk H NB .N 00 00 D Buy 155.00 51,055 398.9 61,827 127.99 1.21 6,149 8,111 9,607 11,113 7,815 15.42 2 0.33 2 4.08 2 7.86 19.59 28 32 18 16 10.1 7.6 6.4 5.6 7.9 8.5 5.5 12.0Hatton Nat ional Bank [X] HNB.X0000 D Buy 114.10 51,055 398.9 45,513 127.99 0.89 6,149 8,111 9,607 11,113 8,086 15.42 2 0.33 2 4.08 2 7.86 19.59 28 32 18 16 7.4 5.6 4.7 4.1 5.8 8.5 7.4 12.0

La nk a Ori x Le as ing Co mpa ny LOLC.N0000 M 52.00 1 9,962 475.2 24,710 42.01 1.24 2,933 1 ,863 1,947 6.17 3.92 4.10 ( 24 ) ( 36 ) 8.4 13.3 12.7 0.5 1.0 14.7

LB Fi nance LFIN.N0000 M Buy 1 13 .4 0 5 ,3 29 6 9. 3 7 ,8 54 7 6. 94 1 .4 7 1 ,7 14 1 ,7 03 2 ,1 14 2 ,4 94 1 ,7 71 2 4. 75 2 4. 58 3 0. 52 3 6. 01 2 5. 57 6 8 (1) 24 18 4.6 4.6 3.7 3.1 4.4 6.5 5.7 32.2

National Development Bank NDB.N0000 D Buy 1 62 .2 0 2 2, 92 6 1 64 .7 2 6, 71 3 1 39 .2 1 1. 17 2 ,7 06 8 ,8 54 3 ,5 33 4 ,2 86 8 ,6 60 1 6. 43 5 3. 76 2 1. 45 2 6. 03 5 2. 58 2 6 2 27 (60) 21 9.9 3.0 7.6 6.2 3.1 15.0 9.2 11.8

N a ti o ns T ru s t B a nk N TB .N 000 0 D Buy 62.80 10,113 230.6 14,482 43.85 1.43 1,534 1,951 2,438 2,990 2,012 6.65 8.46 1 0.57 1 2.96 8.72 41 27 25 23 9.4 7.4 5.9 4.8 7.2 2.1 3.3 15.2

Pa n As ia Ba nk PABC.N0000 D Buy 17.00 4,089 295.0 5,016 13.86 1.23 824 811 859 995 766 2.79 2.75 2.91 3.37 2.60 1 28 (2) 6 16 6.1 6.2 5.8 5.0 6.5 1.0 5.9 20.2

Pe op le 's Le as i ng PLC.N 0000 M Buy 1 4. 60 1 9, 23 6 1, 57 9. 9 2 3, 06 6 12 .1 8 1. 20 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 45 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 3 7 4 ( 32 ) ( 2) 19 5.1 7.5 7.7 6.4 7.6 1.3 8.6 23.6

S amp ath Ba nk S AMP.N0000 D Buy 191.80 27,959 167.8 32,176 166.66 1.15 4,151 5,212 5,636 4,773 24.74 31.07 33.60 28.45 19 26 8 7.8 6.2 5.7 6.7 6.0 3.1 14.8

Seyl an Bank SEYB.N0000 D 60.80 19,775 345.0 20,974 57.32 1.06 1,006 2,063 2,170 2.92 5.98 6.29 (17) 105 20.9 10.2 9.7 1.0 1.6 5.1

La nk a Ori x F in an ce LOF C.N0000 M 3.00 5,424 2,800.0 8,400 1.94 1.55 1,246 686 898 1,026 629 0.44 0.25 0.32 0.37 0.22 ( 0) ( 45 ) 31 14 6.7 12.2 9 .4 8.2 13.4 - - 23.0

Sample Sector (16) 297,279 7,771.3 414,678 38.25 1.39 41,935 52,924 69,778 5.40 6.81 8.98 19 26 9.9 7.8 5.9 14.1

Full Sector (60) 541,910 1.47 8.2

Beverage, Food and Tobacco

Cargi l l s CARG.N0000 M 152.00 7,760 224.0 34,048 34.64 4.39 1,079 578 577 4.82 2.58 2.58 ( 1) ( 46 ) 31.6 59.0 59.0 2.0 1.3 13.9

Ce yl o n T ob a cc o Co mp an y CT C. N0 000 D 1, 36 5. 30 3 ,66 0 18 7. 3 25 5, 753 1 9. 54 6 9. 88 6 ,56 9 8 ,1 76 8, 73 4 9 ,5 45 8 ,15 2 3 5. 07 4 3. 65 4 6. 63 5 0. 95 4 3. 52 2 9 24 7 9 3 8. 9 3 1. 3 29 .3 2 6. 8 3 1. 4 4 3. 6 3 .2 17 9. 5

Di sti ll eri es DI ST.N0000 M LTB 192.70 49,381 300.0 57,810 164.60 1.17 5,675 5,520 5,816 6,452 5,520 18.92 18.40 19.39 21.51 18.40 ( 30 ) ( 3) 5 11 10.2 10.5 9.9 9.0 10.5 3.0 1.6 11.5

L io n B re we ry L IO N. N0 00 0 M 3 75. 10 5 ,91 0 8 0. 0 3 0, 008 7 3. 88 5 .08 1 ,26 2 1 ,0 46 1, 14 6 1 ,5 53 1 ,04 6 1 5. 78 1 3. 07 1 4. 33 1 9. 41 1 3. 08 2 5 (17) 10 35 23.8 28.7 26.2 19.3 28.7 4.0 1.1 21.4

N es tl e ( La nk a) N ES T.N 0000 D 2,441.30 3,071 53.7 131,160 57.17 42.71 2,633 2,994 3,513 3,822 3,446 49.01 5 5.73 6 5.39 7 1.14 64.15 39 14 17 9 49.8 43.8 37.3 34.3 38.1 54.0 2.2 85.7

Sample Sector (5) 69,783 845.0 508,779 82.58 7.29 17,219 18,313 18,742 20.38 21.67 22.18 0 6 29.5 27.8 27.1 24.7

Full Sector (20) 528,570 4.76 21.8

Chemicals & Pharmaceuticals

CIC Hol di ngs CIC.N0000 M 58.00 7,760 94.8 5,497 81.88 0.71 863 231 239 9.11 2.44 2.52 ( 7) ( 73 ) 6.4 23.8 23.0 1.6 2.8 11.1

La nkem Ceyl on LCEY.N0000 M 131.90 4,459 24.0 3 ,166 185.81 0.71 513 297 307 21.39 12.36 12.80 ( 55 ) ( 42 ) 6.2 10.7 10.3 0.0 0.0 11.5

Sample Sector (2) 12,219 118.8 8,662 102.88 0.71 1,376 528 546 11.59 4.44 4.60 ( 33) ( 62) 6.3 16.4 15.9 11.3

Full Sector (10) 19,550 0.93 12.6

Construction & Engineering

Col omb o D ock ya rd D OCK.N0000 D 221.00 10,172 71.9 15,881 141.55 1.56 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.8 8.0 10.2 8.0 3.6 17.7

Sample Sector (1) 10,172 71.9 15,881 141.55 1.56 1,804 1,977 1,564 25.10 27.51 21.77 (13) 10 8.8 8.0 10.2 17.7

Full Sector (4) 19,322 1.31 5.1

Diversified Holdings

Aitken Spence SPEN.N0000 M 122.00 28,053 406.0 49,532 69.10 1.77 3,488 3,267 3,267 8.59 8.05 8.05 38 (6) 14.2 15.2 15.2 1.5 1.2 12.4

CT Holdings CTHR.N0000 M 140.10 13,219 183.1 25,652 72.20 1.94 1,159 1,150 1,150 6.33 6.28 6.28 34 (1) 22.1 22.3 22.3 0.7 0.5 8.8

Ca rs ons Cu mbe rba tch CARS .N0000 M 393.00 34,692 196.4 7 7,180 176.65 2.22 7,017 4,570 4,014 35.73 23.27 20.44 55 (35) 11.0 16.9 19.2 2.0 0.5 20.2

E xp o la n k a H ol d i ng s E XP O. N0 00 0 M LTB 7.40 9,081 1,954.9 14,466 4 .65 1.59 1,033 1 ,061 1 ,302 1,061 0 .53 0.54 0.67 0.54 (33) 3 23 14.0 13.6 11.1 13.6 0.1 1.6 11.4

Ha yleys HAYL.N0000 M 300.00 22,459 75.0 22,500 299.45 1.00 1,038 1,854 1,855 13.84 24.72 24.73 43 79 21.7 12.1 12.1 4.5 1.5 4.6

Hemas Holdings HHL.N0000 M 33.20 12,153 515.3 17,108 23.59 1.41 1,165 1,658 1,658 2.26 3.22 3.22 (4) 42 14.7 10.3 10.3 0.8 2.3 9.6

John Keell s Holdi ngs JKH.N0000 M 256.80 89,819 857.9 220,298 104.70 2.45 9,687 12,201 12,201 11.29 14.22 14.22 17 26 22.7 18.1 18.1 3.5 1.4 10.8

Richa rd Pei ri s RICH.N0000 M 6.90 7,949 1,958.1 13,511 4.06 1.70 2,575 1,903 1,903 1.32 0.97 0.97 53 (26) 5.2 7.1 7.1 0.2 2.9 32.4

Softl ogic Hol di ngs SHL.N0000 M 9.00 8,040 779.0 7 ,011 10.32 0.87 483 301 301 0.62 0.39 0.39 ( 42 ) ( 38 ) 14.5 23.3 23.3 0.3 3.3 6.0

Va ll ib el One VONE.N0000 M Buy 16.80 27,640 1,086.6 18,254 25.44 0.66 2,025 1,403 2,323 1,403 1.86 1.29 2.14 1.29 2 50 (31) 66 9.0 13.0 7.9 13.0 0.0 0.0 7.3

Sample Sector (10) 253,107 8,012.2 465,511 31.59 1.84 29,669 29,367 28,812 3.70 3.67 3.60 30 (1) 15.7 15.9 16.2 11.7

Full Sector (18) 505,930 1.74 15.0

Healthcare

Asi ri Hospital Hold. ASIR.N0000 M 14.10 6,430 1,099.1 15,497 5.85 2.41 600 777 777 0.55 0.71 0.71 215 29 25.8 19.9 19.9 0.3 1.8 9.3

Na wal oka Hos pi ta ls NHL.N0000 M 2.80 3 ,781 1,409.5 3,947 2.68 1.04 271 454 454 0.19 0.32 0.32 (75) 68 14.6 8.7 8.7 0.1 1.8 7.2

La nka Hos pi tal s LHCL.N0000 D 39.80 27,164 223.7 8,905 121.41 0.33 437 384 482 1.95 1.72 2.15 51 (12) 20.4 23.2 18.5 0.5 1.3 1.6

Sample Sector (3) 37,375 2,732.3 28,348 13.68 0.76 1,308 1,616 1,713 0.48 0.59 0.63 (16) 24 21.7 17.5 16.5 3.5

Full Sector (6) 43,318 1.97 11.9

Book Val. Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


11/12


Name Y/E Rec Mkt Price NAVPS P / BV DPS

14-Aug-13 M ar '1 2 M a r' 13 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3

('M n) ('M n) (' Mn ) D ec '1 1 D e c' 12 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 3E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 2

Hotels and Travels

Ai tken Sp. Ho. Hol d. AHUN.N0000 M 69.00 12,926 3 36.3 2 3,204 38.44 1.80 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.8 13.0 10.8 13.0 1.0 1.4 10.7

Ama ya Le is ure CONN.N0000 M 70.00 2,472 48.0 3,362 51.47 1.36 293 377 376 374 6.09 7.84 7 .83 7.79 (38) 29 (0) 11.5 8 .9 8.9 9.0 4.0 5.7 11.8

As ia n Hotel s & Prop. AHPL.N0000 M 71.90 21,697 442.8 3 1,836 49.00 1.47 2,149 2,494 2,623 2,492 4.85 5.63 5.92 5.63 21 16 5 14.8 1 2.8 12.1 12.8 4.0 5.6 9.9

Keel ls Hotel s KHL.N0000 M 12.30 16,294 1,456.1 17,911 11.19 1.10 1,105 1,121 1,496 1,121 0.76 0.77 1.03 0.77 111 1 33 16.2 16.0 12.0 16.0 0.0 0.0 6.8

Ta j TAJ.N0000 M 27.00 2,330 139.6 3,770 16.69 1.62 125 246 293 224 0.89 1.76 2.10 1.61 26 97 19 30.2 15.3 12.9 16.8 0.0 0.0 5.4

Tra ns As ia TRAN.N0000 M 81.20 6,054 200.0 16,240 30.27 2.68 625 1,066 1,180 1,066 3.12 5 .33 5 .90 5.33 (5) 71 11 26.0 15.2 13.8 15.2 3.0 3.7 10.3

Sample Sector (6) 61,773 2,622.9 96,323 23.55 1.56 5,674 7,086 8,116 6,059 2.16 2.70 3.09 2.31 24 2 5 1 5 17.0 13.6 11.9 15.9 9.2

Full Sector (36) 146,038 1.34 16.7

Land and Property

Colombo Land CLND.N0000 D 41.10 3,712 199.9 8,215 18.57 2.21 10 335 -90 12 48 0.05 1.68 (0.45) 0 .0 6 0 .2 4 (98) 3,393 (127) 113 856.5 24.5 N/A 684.6 169.6 0.0 0.0 0.3

Ove rs ea s R ea l ity OS EA .N 0000 D 18.10 22,437 843.5 15,267 26.60 0.68 2,681 2,469 1,924 2,158 2,991 3.18 2.93 2.28 2.56 3.55 218 ( 8) ( 22 ) 12 5.7 6.2 7.9 7.1 5.1 0.3 1.7 11.9

Sample Sector (2) 26,149 1,043.4 2 3,482 25.06 0.90 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.7 8 .4 12.8 10.8 7.7 1.1 10.3

Full Sector (18) 39,750 0.86 9.2

Manufacturing

ACL Cabl es ACL.N0000 M 69.00 5,718 59.9 4,133 95.47 0.72 485 532 543 8.10 8.88 9.06 127 10 8.5 7.8 7.6 1.0 1.4 8.5

Gra in El eva tors GRAN.N0000 D 38.00 2,684 60.0 2,280 44.74 0.85 388 135 87 93 150 6.46 2.24 1.45 1.55 2.49 ( 18 ) ( 65 ) ( 35 ) 7 5.9 16.9 26.2 24.5 15.2 0.1 0.4 14.4

C he vr on L ub ri c a nt s L LU B. N0 00 0 D Hold 308.00 4,536 120.0 36,960 37.80 8.15 2,001 2,288 2,526 2,621 2,396 16.67 1 9.06 2 1.05 2 1.84 19.97 33 14 10 4 18.5 16.2 14.6 14.1 15.4 11.0 3.6 44.1

La nk a Wa ll ti le LWL.N0000 M LTB 60.00 4,618 54.6 3,276 84.57 0.71 731 520 545 600 520 13.39 9.52 9.98 10.99 9.52 51 (29) 5 10 4.5 6.3 6.0 5.5 6.3 3.0 5.0 15.8

Pi ra ma l Gl as s GLAS .N0000 M LTB 5.70 3,629 950.1 5,415 3.82 1.49 686 724 761 813 732 0.72 0.76 0.80 0.86 0.77 19 5 5 7 7.9 7.5 7.1 6.7 7.4 0.4 6.7 18.9

R oya l Ce ra mi c R CL.N0000 M LTB 9 2. 50 8 ,4 01 1 10 .8 1 0, 24 8 7 5. 83 1 . 22 1 ,2 43 1 ,6 70 1 ,8 44 2 ,1 90 1 ,7 52 1 1 .2 2 1 5. 07 1 6. 64 1 9. 77 1 5. 81 (14) 34 10 19 8.2 6.1 5.6 4.7 5.8 2.0 2.2 14.8

T extu re d J ers ey T JL.N 0000 M Buy 1 3. 90 5 ,7 32 6 55. 0 9, 10 5 8 .7 5 1 .5 9 6 28 1, 01 7 1 ,1 86 1 ,4 83 1, 01 7 0 .9 6 1 .5 5 1 .81 2 .2 6 1 .55 (8) 62 17 25 14.5 9 .0 7.7 6.1 9.0 1.2 8.9 11.0

Tokyo Cement TKYO.N0000 M 26.50 6,722 303.8 8,049 22.13 1.20 979 828 828 3.22 2.73 2.73 14 (15) 8.2 9.7 9.7 1.0 3.8 14.6

Sample Sector (8) 42,040 2,314.1 79,466 18.17 1.89 7,141 7,713 7,937 3.09 3.33 3.43 15 8 11.1 10.3 10.0 4.1 17.0

Full Sector (36) 106,414 1.42 8.6

Motors

Coloni al Motors COLO.N0000 M 97.00 3,813 15.2 1,474 250.88 0.39 453 120 22 29.80 7.91 1.47 95 (73) 3.3 12.3 66.1 3.0 3.1 11.9

D ie se l & Motor En gi ne eri ng D IMO.N 0000 M 502.00 7,631 8.9 4,456 859.71 0.58 2,702 462 462 304.36 52.06 52.05 2 7 (83) 1.6 9.6 9.6 10.0 2.0 35.4

Uni ted Motors UML.N0000 M 107.00 7,371 67.3 7,198 109.57 0.98 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.2 3.6 3.6 10.0 9.3 31.0

Sample Sector (3) 18,815 91.3 13,128 205.98 0.70 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.1 5.3 6.1 28.9

Full Sector (6) 22,193 0.99 6.6

Oil Palms

Buki t Da ra h BUKI.N0000 M 690.00 31,845 102.0 70,380 312.21 2.21 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 14.0 16.0 3.0 0.4 22.9

Sample Sector (1) 31,845 102.0 70,380 312.21 2.21 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.6 14.0 16.0 3.0 0.4 22.9

Full Sector (5) 101,239 1.84 19.8

Plantations

Bal angoda BALA.N0000 D 28.30 2,638 23.6 669 111.60 0.25 25 118 62 1.08 5.01 2.64 (85) 366 26.3 5.7 10.7 1.0 1.0

Hora na HOPL.N0000 M 22.70 1,489 25.0 568 59.57 0.38 87 220 201 3.49 8.82 8.04 (73) 152 6.5 2.6 2.8 2.0 5.9

Kega l l e KGAL.N0000 M 99.70 3,349 25.0 2,493 133.97 0.74 769 544 542 30.77 21.74 21.70 ( 8) ( 29 ) 3.2 4.6 4.6 12.0 12.0 23.0

Kela ni Val ley KVAL.N0000 D 82.00 2,515 34.0 2,788 73.98 1.11 460 584 650 13.54 17.19 19.12 44 2 7 6.1 4.8 4.3 6.0 7.3 18.3

Kota ga la KOTA.N0000 M 45.90 3,426 40.0 1,836 85.64 0.54 439 517 378 10.97 12.92 9.44 (34) 18 4.2 3.6 4.9 2.5 5.4 12.8

Wa ta wal a WATA.N0000 M 10.90 3,843 236.7 2,580 16.24 0.67 455 680 755 1.92 2.87 3.19 (29) 49 5.7 3.8 3.4 0.8 11.8

Sample Sector (6) 17,261 384.3 10,933 44.91 0.63 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.9 4.1 4.2 13.0

Full Sector (18) 22,768 0.65 4.0

Power and Energy

La nka IOC LIOC.N0000 M 28.10 13,028 532.5 14,964 24.46 1.15 906 2,911 2,911 1.70 5.47 5.47 3 221 16.5 5.1 5.1 0.0 7.0

Val l i be l VPEL.N0000 M 6.60 1,823 747.1 4,931 2.44 2.71 249 289 301 0.33 0.39 0.40 (41) 16 19.8 17.1 16.4 0.3 3.8 13.6

La ugfs Gas LGL.N0000 M 28.80 6,488 387.0 11,146 16.76 1.72 822 1,061 1,021 2.13 2.74 2.64 (4) 29 13.6 10.5 10.9 1.5 5.2 12.7

Sample Sector (3) 21,339 1,666.6 31,041 12.80 1.45 1,977 4,261 4,234 1.19 2.56 2.54 (8) 116 15.7 7.3 7.3 9.3Full Sector (8) 34,957 1.27 7.5

Telecommunications

Di al og Axia ta DIAL.N0000 D 8.60 38,776 8,143.8 70,036 4.76 1.81 5,354 6,521 7,569 8,156 0.66 0.80 0.93 1.00 6 22 16 13.1 10.7 9.3 8.6 0.3 3.8 13.8

Sri La nka Te lecom SLTL.N0000 D 40.90 56,136 1,804.9 73,819 31.10 1.31 4,781 5,329 5,912 4,976 2.65 2.95 3.28 2.76 21 11 11 15.4 13.9 12.5 14.8 0.9 2.1 8.5

Sample Sector (2) 94,912 9,948.6 143,855 9.54 1.52 10,135 11,850 13,481 13,132 1.02 1.19 1.36 1.32 13 17 14 14.2 12.1 10.7 11.0 10.7

Full Sector (2) 144,850 1.53 11.0

Trading

Browns BRWN.N0000 M 103.00 14,696 7 0.9 7,300 207.36 0.50 1,164 2 40 240 16.43 3.39 3.39 ( 47 ) ( 79 ) 6.3 30.4 30.4 1.3 1.3 7.9

S in ge r S ri La nk a S IN S.N 0000 D 97.80 4,681 125.2 12,245 37.39 2.62 1,266 1,138 9 85 1 0 .1 1 9 .0 9 7.87 90 (10) 9.7 10.8 12.4 6.0 6.1 27.1

Sample Sector (2) 19,378 196.1 19,546 98.82 1.01 2,431 1,378 1,225 12.40 7.03 6.25 ( 15) ( 43) 8.0 14.2 15.9 12.5

Full Sector (8) 24,870 1.07 18.7

Sample Market (70) 1,013,448 37,920.9 1,930,013 26.73 1.90 138,331 150,117 169,632 195,077 166,270 3.65 3.96 4.47 5.14 4.38 17 9 13 15 14.0 1 2.9 11.4 9.9 11.6 13.6

Total Market (283) 2,361,259 1.71 12.2

Book Val. Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


12/12


Softlogic Equity Research

Dimantha Mathew

[email protected]

+94 11 7277030

Kavindu Ranasinghe

[email protected]

+94 11 7277031

Imalka Hettiarachchi

[email protected]

+94 11 7277032

Softlogic Equity Sales

Dihan Dedigama

[email protected]

+94 11 7277010, +94 77 7689933

Sonali Abayasekera

[email protected]

+94 11 7277051, +94 77 7736059

Eardley Kern

[email protected]

+94 11 7277053, +94 77 7348018

Thanuja De Silva

[email protected]

+94 11 7277059, +94 77 3120018

Chandima Kariyawasam

[email protected]

+94 11 7277058, +94 77 7885778

Branches

HoranaMadushanka Rathnayaka

No. 212, 1st floor, Panadura road, Horana

[email protected]

+94 34 7451000, +94 77 3566465

Matara

No. 8A, 2nd

Floor, FN Building,

Station Road, Matara

+94 41 7451000

NegamboKrishan Williams

No. 121, St. Joseph Street Negambo

[email protected]

+94 31 2224714-5, +94 77 3569827

KurunegalaBandula Lansakara

No.13, Rajapihilla Mawatha, Kurunegala

[email protected]

+94 37 2232875, +94 77 3615790

The report has been prepared by Softl ogic Stockbrokers (Pvt) Ltd. The inf ormati on and opinion s contain ed herein has been compil ed

or ar ri ved at based upon inf ormati on obtained fr om sources believed to be reliable and in good faith . Such infor mation has not been

independently verif ied and no guaranty, representation or warr anty, express or impli ed is made as to its accuracy, completeness or

correctness. Al l such i nformation and opinions are subject to change without notice. This document i s for informati on purposes only,

descri ptions of any company or companies or their securit ies menti oned herein are not int ended to be complete and this document is

not, and should not be construed as, an offer, or solicitat ion of an off er, to buy or sell any securit ies or other f inan cial in struments.

Softlogi c Stockbrokers (Pvt) L td may, to the extent permi ssible by applicable law or regulati on, use the above materi al, conclu sions,

research or analysis in wh ich they are based before the materiali zed disseminated to their cu stomers. Not all customers wil l r eceive

the material at the same time. Softl ogic Stockbrokers, their respective directors, off icers, representati ves, employees, related persons

and/or Softl ogic Stockbrokers, may have a long or short position i n any of the securiti es or other fi nancial i nstruments mentioned or

issuers described herein at any ti me and may make a purchase and/or sale, or of fer to make a purchase and/or sale of any such

securi ties or other fi nancial i nstruments fr om time to time in the open market or otherwise, in each case either as pri ncipal or agent.

Softlogi c Stockbrok ers may make markets in securi ties or other finan cial in struments descri bed in th is publication , in securi ties of

issuers described here in or i n securiti es underl ying or related to such securi ties. Softl ogic Stockbrokers (Pvt) L td may have recently

underwr itten the securi ties of an issuer mentioned herein. This document may not be reproduced, distribu ted, or publ ished for any

purposes.

Weekly Plus - 2013 Issue 33 (16.08.2013)

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Transcript of Weekly Plus - 2013 Issue 33 (16.08.2013)