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  • OSEA Community

    One of the sleeping giants, we are yet to witness their overall performance on the Havelock City condominiums. Hopefully the proceedings will be given out to the shareholders as dividend

    "Overseas Realty (Ceylon) PLC is a property development and investment holding company. The Company is engaged in providing property leasing, property trading and property services. The Company provides property related services with approximately five million square feet of commercial and residential properties under its management. The Company is developing, through its subsidiary Mireka Capital Land (Pvt) Limited, Havelock City, the mixed use real estate project in Sri Lanka, as well as South Asia. Its Havelock City is the residential and commercial development project undertaken in the Colombo city and is located along Havelock Road. It is a joint venture project between Overseas Realty (Ceylon) PLC (ORCL) and the Bank of Ceylon (BoC). The Havelock City project has approximately eight luxurious residential apartment towers, a commercial and shopping mall with department stores, a supermarket, leisure and entertainment complexes, dining and recreational facilities"
    Last edited by SHARK; 02-19-2019, 09:19 AM. Reason: Added: Business Summary

  • #2
    Financial Performance- Period ended 30 June 2018

    Click image for larger version  Name:	OSEA-q2.png Views:	1 Size:	115.0 KB ID:	360
    Last edited by ruwan326; 08-13-2018, 02:19 PM.

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    • #3
      VAT on apartments from 1 April 2019

      http://www.ft.lk/front-page/VAT-on-a...2019/44-662624

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      • #4
        https://cdn.cse.lk/cmt/upload_report...1540463242.pdf

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        • Sj
          Sj commented
          Editing a comment
          Same applies to JKH with Cinnamon Life Project and their new Project at Union Place. JKH and AEL both have land banks around Colombo aimed at property development.

      • #5
        Not much interest for the sector though.

        Comment


        • #6
          Company ID: - OSEA.N0000
          Date of Announcement: - 18.Feb.2019
          Rate of Dividend: - Rs. 1.25 per share / First & Final Dividend
          Financial Year: - 2018
          Shareholder Approval: - Required
          AGM: - 29.Mar.2019
          XD: - 01.Apr.2019
          Payment: - 09.Apr.2019
          Live Today........
          Without compromising your ability to Live Tomorrow………

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          • #7
            Excellent result.........

            https://cdn.cse.lk/cmt/upload_report...1550485852.pdf
            Live Today........
            Without compromising your ability to Live Tomorrow………

            Comment


            • #8
              Done very well. Only concern is they have huge amount (6.9bn) as Inventories which can be either completed apartments for sale or WIP. If it is completed units then good as faster realization for coming Qtrs can get more revenue and considering daily building cost escalations Co can get good margin. Their Trade Receivables also unusually higher (4.6b) and if can turn around faster then better and i suspect these are sales entered before VAT charge in Apr19. Let's see how the Budget going to be. Overall good counter for LT as share is pretty low (15.8) compared to rights price 20.00. Steady Div player.

              Disc. Hold

              Comment


              • #9
                I think MHDL, OSEA and property related stocks performance sadly understated owing to New Standards applicable from 2019 and VAT. Also slow-down in economic activities, spending. CoGs up could be another factor. When can these companies flourish. Shortage of labour should be looked into and fill this gap with foreign workers.
                "The best values today are often found in the stocks that were once hot and have since gone cold"

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