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Sri Lanka Equity Forum » Stock Market Talk » CITH, CITH & REEF

CITH, CITH & REEF

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1 CITH, CITH & REEF on Thu May 31, 2018 2:36 pm

TuTanKaman


Senior Equity Analytic
Senior Equity Analytic
Noted following points post restructuring
1. Revaluation of properties of CITH, REEF, CITW, PBR is due in 31 March 2018 which is expected to release in couple of days
2. EGM approves unutilized IPO funds to be used for debt settlement which is more than 50% of CITH debt outstanding. Further sell of CITK property to settle CITH loans will ensure debt is settled around 80%. This will significantly improve eps.
3. Sell of CITK property will reverse a minimum of 17 MN of revaluation reserve to retain earnings.
4. Directors who never had CITH shares now getting shares due to CITK conversion
5 Shares of CLND deferred revaluation of approximately 1bn will come in coming quarters to financials as Associate company
6 IPO prices above Rs 17 in 2012 which is used to settle debts for which now we can buy below 7.
7 RSI oversold region
Minus
1. Not sure the upcoming p&l
2. Still high selling pressure. Don't know false orders to make price low
3 revaluation results not known
4 shares high volatile
I'm collecting. Pls do ur analysis b4 invest. I forecast a reasonable upside

2 Re: CITH, CITH & REEF on Mon Jun 04, 2018 9:28 am

TuTanKaman


Senior Equity Analytic
Senior Equity Analytic
Reef net asset 28 to 35 cith net asset 21 to 25 loan to be settled 1st week of June.
Interesting to see how market will react

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