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  • Very Good Results
    "The best values today are often found in the stocks that were once hot and have since gone cold"


    • Originally posted by SHARK View Post
      Very Good Results
      Hope ASI will climb UP with JKH ....
      Foreign buying might continue instead selling


      • Sri Lanka's JKH net up 7-pct in Dec quarter

        Feb 01, 2019

        Sri Lanka's John Keells Holdings, which has operations in logistics, leisure, consumer goods and financial services said profits grew 7 percent from a year earlier in the December 2018 quarter to 4.8 billion rupees, helped by container operations and a forex gain.

        The group reported earnings of 3.46 rupees per share. For the nine months to December JKH reported earnings of 8.71 rupees per share, on total profits of 12.0 billion rupees which were up 9 percent.

        Revenues grew 17 percent to 36.5 billion rupees, cost of sales grew at a faster 20 percent to 29.1 billion rupees and gross profits grew 7 percent to 7.37 billion rupees.

        Finance income grew 48 percent to 3.8 billion rupees, helped by gains in foreign currency cash holdings.

        On December 25, the firm had paid out 11.1 billion rupees to shareholders in a share buyback.

        Pre-tax profits at its transportation group had risen 16 percent to 1.1 billion rupees with its container terminal in Colombo port growing volumes 8 percent. SAGT had handled an all time high of 2 million containers in 2018, out of a total of 7 million at the port.

        Though Lanka Marine Services, JKH's ship bunkering unit had seen volumes grow 7 percent, profits had been hit by a sharp fall in oil prices.


        • Harry J’s shareholding in JKH approaching 10%, stake valued at close to Rs20bn

          February 5, 2019

          Sri Lanka’s richest man, Harry Jayawardena, has increased his shareholding in Colombo Stock Exchange bellwether John Keells Holdings (JKH) to near 10%. The total value of his shareholding is now worth close to Rs20bn.

          As of December 31, 2018, Jayawardena’s Melstacorp PLC owned 8.4% of JKH.

          After the quarter ended, the company executed a buyback transaction in which JKH bought back 5% of its total outstanding shares for Rs160/share.

          After the company buyback, and possible subsequent purchases by Jayawardena after the December quarter, it is likely that the Melstacorp holding in JKH is close to 10%.

          JKH is Sri Lanka’s most important stock exchange listed company. It is the only local company that has been able to attract in excess of a billion dollars in foreign investment through the capital markets, and it likely the only local company with the financial muscle to embark on billion dollar projects like its upcoming Cinnamon Life property development.

          JKH has just recently undergone a leadership transition where the Board of Directors chose Chairman/CEO Krishan Balendra (45) to lead the company for at least the next decade. Balendra and the Board have yet to express views on shareholders accumulating large stakes of the company in excess of 10%. It is also unclear if representatives of such large shareholders will be invited to join the JKH Board of Directors.

          Some market watchers are of the opinion that if control of JKH were to fall into the hands of one of Sri Lanka’s oligarchs, that it would be as significant detriment to the country and its economy.

          Sri Lanka has written legislation that has prevented local banks fro falling into the hands of a controlling shareholder. Previously, it was the same Harry Jayawardena who made plays to take over Sri Lanka’s largest listed banks: Commercial Bank (COMB) and Hatton National Bank (HNB).

          Other than with banks, policy makers have yet to express views on control of Sri Lanka’s largest companies by high net worth investors.

          Last edited by ruwan326; 02-05-2019, 07:36 PM.


          • 5 MN crossings Seems much more to come in the day


            • JKH board is duty bound to evaluate takeover defence/restructuring

              February 11, 2019 (LBO) – John Keells Holdings (JKH) and its management seem to be asleep at the wheel. Whether the board of the most important company in Sri Lanka realises it or not, their company and its shareholders are under threat.

              Sri Lanka’s billion dollar stock market bellwether now has 3 shareholders who own in aggregate greater than 40% of the voting shares of the company. These three shareholders, if they collude or sell to each other, have the ability to control the company.

              The three shareholders are the Captain family, Harry Jayawardena, and the Malaysian sovereign fund. The two local shareholders, Captains and Harry Jayawardena, control in excess of 30% of the company, while the Malaysians have in excess of 10%. The two local shareholders do not have a track record of creating value for minority shareholders. Shares of the companies they control have preformed far worse than if minority shareholders would have just kept their money if fixed deposits.

              As the potential forces that could takeover JKH have not had a history of creating value for minority shareholders, the board of JKH is duty bound to protect the rights of all other existing shareholders by conducting a major evaluation of strategic alternatives.

              The board of JKH through its lackadaisical management has allowed the company to fall into its current predicament, therefore internal analysis of strategic alternatives would lack credibility.

              As time is of the essence, the board should immediately seek outside counsel in order evaluate a course of action that is in the interest of all its existing shareholders. International investment banks and legal advisors must be retained in order to assist management in evaluating the available alternatives of restructuring and takeover defence.

              If the board fails to act, they will be violating their duty to maximise shareholder value for all stock holders, and likely add JKH to the list of companies that are controlled by Sri Lanka’s oligarchs.


              • JKH about to loose independance?


                • Totally agree.

                  Will turn into a sleeping GIANT.


                  • JKH Community forum is not visible in the notification area recently. Anybody else faces the issue. I cannot add a screenshot as that feature is not working in the forum.


                    • Can you elaborate a bit more.
                      "The best values today are often found in the stocks that were once hot and have since gone cold"


                      • penguin
                        penguin commented
                        Editing a comment
                        When someone post on a forum that I have subscribed normally it shows as follows,(I can click an go to that forum directly)

                        "ruwan326 and -1 others have posted on your subscription:JKH Community"

                        But for "JKH community" now it shows as follows,

                        "ruwan326 and -1 others have posted on your subscription:"

                        And please have a look at uploading photos to the forum, it seems not working too (this is a separate issue)
                    widgetinstance 205 (Related Topics) skipped due to lack of content & hide_module_if_empty option.