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  • Originally posted by SHARK View Post
    Its a matter of interpretation "A contingent liability is a potential liability that may or may not become an actual liability. Whether the contingent liability becomes an actual liability depends on a future event occurring or not occurring"

    Hence certain liabilities would require disclosure only and they do not require actual provisioning.
    Oba hari.

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    • Only thing, I feel is there is a bit a drag in settlement. That's is beyond agreed terms, thus requiring the disclosure.

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      • This is trending well. Lets get in before it blasts through 9.
        "The best values today are often found in the stocks that were once hot and have since gone cold"

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

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          • A company takes a short term working capital loan to Finance an Export Order, and because the Customer defaults I cant say Bank that i refuse to pay. Bill Discounting is a post shipment financing facility, but same logic applies.

            Anyway. There is a positive trend towards it as Shark said, apart from AEL,LIOC my collection list was and is MGT now...

            my only worry is that whatever definition they give for this Bill Disc, they dont end it up going through P&L and making it red (until we make some profit)

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            • Seems some interest among the members on MGT. Market interest seems on pose mood though...

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              • Originally posted by Hawk Eye View Post
                A company takes a short term working capital loan to Finance an Export Order, and because the Customer defaults I cant say Bank that i refuse to pay. Bill Discounting is a post shipment financing facility, but same logic applies.

                Anyway. There is a positive trend towards it as Shark said, apart from AEL,LIOC my collection list was and is MGT now...

                my only worry is that whatever definition they give for this Bill Disc, they dont end it up going through P&L and making it red (until we make some profit)
                10 is my target S/T.
                Slow and steady wins the race

                I have all the time this one needs
                "The best values today are often found in the stocks that were once hot and have since gone cold"

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                • Originally posted by SHARK View Post

                  10 is my target S/T.
                  Slow and steady wins the race

                  I have all the time this one needs
                  keep it up

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                  • Why is that we don't see the same interest that is shown for TJL. Very strange....

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                    • Originally posted by LukeDeSilva View Post
                      Why is that we don't see the same interest that is shown for TJL. Very strange....
                      possible to move further up, i am bullish. i think i mentioned few posts earlier about mgt turnaround.
                      "The best values today are often found in the stocks that were once hot and have since gone cold"

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                      • Originally posted by Hawk Eye View Post

                        I have made an error in the Cash balance considering the USD balancesheet as Rupees.I will edit the same on the original post

                        Hayleys Fabric PLC part outsourced production to meet the orders of lower end products, due to insufficient factory capacity given the focus on Inno, as explained on page 77 - Outsourcing. Despite outsourcing, some selected orders were yet foregone to meet delivery commitments of accepted orders. Current factory capacity utilization stands at over 91% (Annual Report 18/19 -pg 66)

                        This is a good sign with such a capacity utilization, and adopting a strategy to focus more high end profit rich customers going to increase the profit margins. This means they are already running at full capacity and focusing on improving the profitability through product mix

                        .Report further says"..Cost of raw materials, comprising yarn and dyes accounting for over 70% of cost of sales, was prudently managed at 4% increase per kg sold", and the demand for synthetic is increasing... This is where MGT stressing on R&D finding cost effective substitutes but also ensuring high quality on synthetic fabrics and Dyes.

                        Note 18.4 "Payments for all revenue from contracts with customers is generally due within 15 to 30 days from delivery"... and further down somewhere they mentioned that .."Outstanding customer receivables are regularly monitored and any shipments to major customers are generally covered by letters of credit"... That gives an assurance that theres no default and everything has been accounted and provided properly.

                        So the contingent liability I guess is just a disclosure and i cant understand why; Auditors havent touched this in the Company Accounting Policy and LKAS 37

                        I believe Q2Q sales and Profit of MGT will increase.

                        Ceylon Guardian & Union Assurance disposed 7.8Mn worth of shares Compared to 2018 March shareholder list. The same figure gives the difference of top 20 list decreased amount.

                        HE



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