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Hayleys buys balance 9.47-stake in Singer Sri Lanka

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Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by The Invisible on Tue Oct 16, 2018 7:28 am

ECONOMYNEXT - Hayleys Plc, has bought a remaining 9.47 percent stake in consumer durables retailer Singer Sri Lanka Plc, for 1,671 million rupees.

In September 2017, Hayleys bought control from Singer Sri Lanka for 10.8 billion rupees, in what was the largest trade in the Colombo Stock Exchange.

Hayleys, and its units Carbotels and Volanka bought a 61.73 percent stake at the time also for 47 rupees a share.

Retail Holdings NV, the previous parent had the option of selling remaining shares within the next 12 to 15 months.

Sri Lanka's rupee, which has an unstable soft-peg to the US dollar has fallen since then. (Colombo/Oct15/2018)
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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by yellow knife on Tue Oct 16, 2018 7:31 am

Thanks Invisble. Hayleys is a long-term player. Definitely he who control Ceramics, Tiles, aluminum would control the electronic soon.


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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by PANTOMATH on Tue Oct 16, 2018 7:39 am

With the recent acquisition,HAYL will have more pressure on their finance cost.Unless they go for PP,Debenture or a right issue,HAYL will not be able to make good profit.
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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by serene on Tue Oct 16, 2018 7:43 am

Thanks Invinsible.
If Hayleys values it at 47. Won't it be a better for us to value at 31.

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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by PANTOMATH on Tue Oct 16, 2018 7:49 am

serene wrote:Thanks Invinsible.
If Hayleys values it at 47. Won't it be a better for us to value at 31.
People like DP have longterm plans and they hold like Buffet.We ordinary people shouldn't follow them blindly.To get an idea refer financial statements of last few quarters of SINS.
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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by serene on Tue Oct 16, 2018 7:55 am

PANTOMATH wrote:
serene wrote:Thanks Invinsible.
If Hayleys values it at 47. Won't it be a better for us to value at 31.
People like DP have  longterm plans and they hold like Buffet.We ordinary people shouldn't follow them blindly.To get an idea refer financial statements of last few quarters of SINS.
Yap.Even the NAV is very low if my memory serves right.
Should be a speculative play.
Mandatory offer / or would Hayleys sell as their gearing ratio is not at a comfortable levels.
No one should invest on this if he is not dare to loose at this juncture.

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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by PANTOMATH on Tue Oct 16, 2018 7:58 am

serene wrote:
PANTOMATH wrote:
serene wrote:Thanks Invinsible.
If Hayleys values it at 47. Won't it be a better for us to value at 31.
People like DP have  longterm plans and they hold like Buffet.We ordinary people shouldn't follow them blindly.To get an idea refer financial statements of last few quarters of SINS.
Yap.Even the NAV is very low if my memory serves right.
Should be a speculative play.
Mandatory offer / or would Hayleys sell as their gearing ratio is not at a comfortable levels.
No one should invest on this if he is not dare to loose at this juncture.
If my memory serves right DP paid 2 PBV for the transaction.with recent losses SINS NAVPS should be around 17-18,will see with next report.
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Re: Hayleys buys balance 9.47-stake in Singer Sri Lanka

Post by yellow knife on Tue Oct 16, 2018 8:24 am

PANTOMATH wrote:With the recent acquisition,HAYL will have more pressure on their finance cost.Unless they go for  PP,Debenture or a right issue,HAYL will not be able to make good profit.

Yes... Even Plantation sector will get affected due to Iran sanctions. Hayleys will have tough time ahead. Yet they must have good strategies.. Rights will not be an option in a down market. NDB would have tasted the bitter pill. Dankotuwa also failed rights in a down market.

However Hayleys will prepare with superb strategies.


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Monopolies often perform better than others. Krueger created a Monoploy of a simple product box of matches. Who cares even if the price of small things doubled giving super profits to the manufacturer.


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