MTD WALKERS - KAPI
- slstockVeteran
- Posts : 6216
Join date : 2014-06-12
Re: MTD WALKERS - KAPI
This is thread many people were interested on KAPI when it was Rs 55+.
Several Fundamental Analysis and Technical Analysis posts were done by various parties. Many good discussion came.
But at the height of enthusiasm on KAPI ( and at peak of price) , many discussion were mainly focused on positive aspects about KAPI.
There was one crazy guy named SLS, who tried to add some balance on KAPI growth and future prospects to tell people not to get too carried away.
If one read this thread carefully from start to end, one would note several misunderstanding even happened with the one guy who went out of the box.
Today KAPI is in mess and controversy trading at Rs 9.
Is anyone interested in KAPI now to discuss?
POINT : When shares are in hotness many talk about it. Anyone who talks against it will get unpopular too . But when its trading at rock bottom, no one talks about it!
Punchline :
There are many share like KAPI trading at CSE now at rock bottom after losing 80-90% from the top!
Time to identify other gems.
PS:
1) I am making this comment in no way to put down anyone. Kindly look at only the fact made ( don't take it personally anyone)
2) Well if someone is now interested in KAPI, it is still in a kind of mess due to Debt issues and controversial state bank loans given. Fundamentally it too early to talk about KAPI. But trading ops do happen with this share.
- yellow knifeTop contributor
- Posts : 6980
Join date : 2014-03-27
Re: MTD WALKERS - KAPI
I have pointed out else where that you acted like the Honest Boy who dared to question the Emperor's costume.
But the tailors, The Emperors and the Wise Majority will be up in arms against the Boy.
Not only MTD Walkers, many other businesses (most unlisted) take too much debt to finance luxury lifestyle of owners.
- Ethical TraderTop contributor
- Posts : 5568
Join date : 2014-02-28
Re: MTD WALKERS - KAPI
- PANTOMATH
- Posts : 231
Join date : 2018-10-15
Re: MTD WALKERS - KAPI
- PANTOMATH
- Posts : 231
Join date : 2018-10-15
Re: MTD WALKERS - KAPI
http://www.sundaytimes.lk/190113/news/malaysian-investors-shedding-shares-in-construction-firm-new-directors-coming-330211.html
This is the announcement,
https://cdn.cse.lk/cmt/upload_cse_announcements/5251547722469_.pdf
Who is telling lies to whom?
- dhanurrox
- Posts : 791
Join date : 2014-03-27
Re: MTD WALKERS - KAPI
- smallvilleTop contributor
- Posts : 1872
Join date : 2014-02-23
Location : Trying to figure out..
Re: MTD WALKERS - KAPI
Remember our Gilmart's amd Satar girl's forum? that's de Den of thieves actually.. So many new names come and promote shares left n right.. Geez
- ruwan326
- Posts : 1744
Join date : 2016-09-29
Age : 45
Location : Horana
Re: MTD WALKERS - KAPI
- ruwan326
- Posts : 1744
Join date : 2016-09-29
Age : 45
Location : Horana
Re: MTD WALKERS - KAPI
15 February 2019
Amidst the latest legal disputes faced by MTD Walker PLC, one of its subsidiaries, Walker Sons and Company Engineers Ltd. is now faced with liquidation proceedings in the Commercial High Court of Colombo.
The Petition to wind up Walker Sons and Company Engineers was filed by a Maldivian company, Total Transport Solutions Ltd., whose ultimate parent company is Hayleys PLC. The Petitioner alleges that Walker Sons owes the Petitioner over Rs. 17 million for the crane-hiring services provided by the Petitioner to Walker Sons, for the construction of a Tank Farm in K. Funadhoo Island in the Maldives.
Counsel Avindra Rodrigo with Rozali Fernando appearing for the Petitioner supported the winding-up Petition on 6 December, and Court, having heard the submissions made by Counsel and taking into consideration the contents of the Petition, fixed the matter for inquiry on 4 April.
The notice of the winding-up Petition has been published in newspapers and Government gazettes. All parties who wish to intervene in the winding-up proceedings may give notice to the Petitioner’s Attorneys-at-Law, F.J. & G. de Saram, of their intention to intervene.
http://www.ft.lk/front-page/MTD-Walkers-face-liquidation-as--Hayleys-Group-firm-files-winding-up-petition/44-672937
Four more banks obtain enjoining orders against MTD Walkers
- ruwan326
- Posts : 1744
Join date : 2016-09-29
Age : 45
Location : Horana
Re: MTD WALKERS - KAPI
21 February 2019
The Colombo Commercial High Court yesterday further enjoined MTD Walkers PLC, until March 7, from transferring its shares in the name of third parties.
At the outset of the inquiry, the counsel for D.L.M. De Seram, appearing on behalf of the defendant MTD Walkers PLC of No 18, St. Michaels Road,Colombo 3, filed four proxies into those cases.
The defendant’s counsel also moved for a further date to file their objections and answers in court.Commercial High Court Judge R. Gurusinghe granted time till March 7 for the defendant to file answers and objections.
On a request made by the plaintiff’s counsel, the judge further extended the enjoining order issued on the defendant, restraining the defendant from transferring the shares of MTD Walkers PLC in the name of third parties or interfering with the shares in any other manner, until March 7.
Four private banks had filed four separate money recovery cases in the Commercial High Court, for the recovery of loans given to MTD Walkers PLC.
The plaintiffs had pleaded the court to issue restraining orders on the defendant from transferring its shares in the names of third parties, until the adjudication of the cases against the defendant.
High Court Judge R. Gurusinghe had earlier enjoined MTD Walkers PLC with regards to the cases filed by Commercial Bank of Ceylon PLC, Seylan Bank PLC, DFCC Bank PLC and National Development Bank PLC.
The four plaintiff banks by their petitions had claimed that the defendant company owed them money, which had been taken as loans by the defendant and not been settled with interest to this date.
They further asserted that the defendant company is allegedly attempting to transfer its shares in the names of third parties and pleaded the court to issue permanent injunctions on the defendant, after hearing the case.
Until then, the plaintiff banks pleaded the court to issue enjoining orders on the defendant, preventing it from transferring the shares in the name of third parties or interfering with the shares of the company, until the final determination of the case.
They also pleaded the court to issue decrees for them to recover the dues from the company.
The petitioners further pleaded to grant permanent injunction, preventing the defendant, servants, agents and all those under them from transferring any of the shares or any part thereof to any person, until the full amount paid for by the plaintiff against the defendant is made and settled.
http://www.dailymirror.lk/business-news/MTD-Walkers-further-enjoined-till-Mach-7-preventing-transfer-of-shares/273-162681
- Jana1Top contributor
- Posts : 630
Join date : 2014-02-23
Re: MTD WALKERS - KAPI
Similar to PC house, I guess. You cant swim naked..
- NIRMALSG
- Posts : 428
Join date : 2019-02-17
Location : Colombo
Re: MTD WALKERS - KAPI
The Malaysian shareholder of MTD Walkers is yet to sell its 90.8 percent controlling stake of troubled construction company to Sri Lanka’s Anunine Holdings.
The Walkers share has been suspended from trading since February 13, 2019. No such controlling stake transaction took place between December 31 last year and that date, so MTD Capital Bhd of Malaysia is still the direct owner of that chunk. The business must take place through the Colombo Stock Exchange (CSE), a senior analyst said.
Anunine Holdings recently went public that it will buy the shares currently held by MTD Capital Bhd, thereby taking over MTD Walkers and its subsidiaries. The company inducted two “independent” directors into the Walkers board–Anunine Chairman Anurath Abeyratne and his son-in-law N.P. Chanaka Gayan Kalhara Hapuarachchi.
The newcomers took the place of two independent directors linked to Supreme Global Holdings–Kumaragewattage Sharm Viraj Fernando and Yogendraprasath Sathiyaseelan who joined the group at the end of December 2018. Both resigned after the Colombo Stock Exchange (CSE) rejected a bid by a company allied with Supreme Global to buy the Malaysian stake.
Supreme Pantel Investments Ltd is chaired by Supreme Global Holdings Chairman R M Manivannan. He recently informed the CSE that, after negotiations with MTD Capital Bhd, it was agreed that the controlling stake will be sold to Supreme Pantel for a consideration of US$ 9mn or Rs 10.64 per share (there are 152,183,583 shares with the Malaysian entity).
“However, we now need clarity on the “minimum floor price crossing” restriction of 5% below current trading price which may prevent us from successfully completing the transaction,” Mr Manivannan wrote to the CSE.
The CSE did not allow the Supreme Pantel transaction with MTD Capital Bhd to go ahead. It cited 6.3 of the Automated Trading Rules of the CSE which states that a “crossing” shall not take place at a price below five percent of the “closing price”.
Supreme Pantel was earlier known as S G H Investments (Pvt) Ltd, incorporated in October 2017. It was renamed only in December last year and earned a new director (in addition to Mr Manivannan) named Vijender Singh from Noida in Uttar Pradesh, India.
It is not known what price Anunine Holdings has agreed to pay for the controlling stake of MTD Walkers and whether the same rule would apply.
By the end of September 30 last year, MTD Walkers had Rs 4.2bn in long-term debt and Rs 23.6 billion in short-term borrowings. Around Rs 22bn is due from trade and other receivables. It has to receive Rs 6bn from the Urban Development Authority alone, for three completed housing development projects.