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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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4 posters

    Sri Lanka's Watawala Plantations ends management deal

    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22

    Sri Lanka's Watawala Plantations ends management deal Empty Sri Lanka's Watawala Plantations ends management deal

    Post by First Guy Tue Mar 18, 2014 7:48 am

    Mar 18, 2014 (LBO) - Sri Lanka's Watawala Plantations Plc said a management agreement with Estate Management Services (Pvt) Ltd, its key shareholder has been ended.

    The firm said in a stock exchange filing that management fees will no longer paid the Estate Management Services and the company itself will manage it.
    The management fees paid by plantations company is a legacy of a privatization process, where the fees were structured to provide cash flow to finance an indirect leveraged buyout of the firms by its managing agent.

    The practice has been blamed by analysts for draining resources needed for capital expenditure.

    In Sri Lanka's commercial tea plantations date back from the British colonial era where third party 'agency houses' used to charge management fees on an arm's length basis.

    http://www.lankabusinessonline.com/news/sri-lankas-watawala-plantations-ends-management-deal/255717277

    http://www.cse.lk/cmt/upload_cse_announcements/4771395054075_.pdf

    Will this positively impact WATA?
    SHARK a.k.a TAH
    SHARK a.k.a TAH
    Top contributor
    Top contributor


    Posts : 338
    Join date : 2014-03-01
    Location : Abu Dhabi, UAE

    Sri Lanka's Watawala Plantations ends management deal Empty Re: Sri Lanka's Watawala Plantations ends management deal

    Post by SHARK a.k.a TAH Tue Mar 18, 2014 8:38 am

    First Guy wrote:Mar 18, 2014 (LBO) - Sri Lanka's Watawala Plantations Plc said a management agreement with Estate Management Services (Pvt) Ltd, its key shareholder has been ended.

    The firm said in a stock exchange filing that management fees will no longer paid the Estate Management Services and the company itself will manage it.
    The management fees paid by plantations company is a legacy of a privatization process, where the fees were structured to provide cash flow to finance an indirect leveraged buyout of the firms by its managing agent.

    The practice has been blamed by analysts for draining resources needed for capital expenditure.

    In Sri Lanka's commercial tea plantations date back from the British colonial era where third party 'agency houses' used to charge management fees on an arm's length basis.

    http://www.lankabusinessonline.com/news/sri-lankas-watawala-plantations-ends-management-deal/255717277

    http://www.cse.lk/cmt/upload_cse_announcements/4771395054075_.pdf

    Will this positively impact WATA?
    this will improve bottom line in short term ..... but we will have to wait ans see how this will impact longterm performance in 2 to 3 years
    avatar
    serene
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    Posts : 4850
    Join date : 2014-02-26

    Sri Lanka's Watawala Plantations ends management deal Empty Re: Sri Lanka's Watawala Plantations ends management deal

    Post by serene Tue Mar 18, 2014 11:38 am

    TAH wrote:
    First Guy wrote:Mar 18, 2014 (LBO) - Sri Lanka's Watawala Plantations Plc said a management agreement with Estate Management Services (Pvt) Ltd, its key shareholder has been ended.

    The firm said in a stock exchange filing that management fees will no longer paid the Estate Management Services and the company itself will manage it.
    The management fees paid by plantations company is a legacy of a privatization process, where the fees were structured to provide cash flow to finance an indirect leveraged buyout of the firms by its managing agent.

    The practice has been blamed by analysts for draining resources needed for capital expenditure.

    In Sri Lanka's commercial tea plantations date back from the British colonial era where third party 'agency houses' used to charge management fees on an arm's length basis.

    http://www.lankabusinessonline.com/news/sri-lankas-watawala-plantations-ends-management-deal/255717277

    http://www.cse.lk/cmt/upload_cse_announcements/4771395054075_.pdf

    Will this positively impact WATA?
    this will improve bottom line  in short term ..... but we will have to wait ans see how this will impact longterm performance in 2 to 3 years

    Agreed.but atleast we can happy about short term. Basketball
    Backstage
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    Sri Lanka's Watawala Plantations ends management deal Empty Re: Sri Lanka's Watawala Plantations ends management deal

    Post by Backstage Tue Mar 18, 2014 11:42 am

    Why should there be issues long term ? its probably the same management team, they were paying an "agency fee" so as to speak.

      Current date/time is Thu Jun 20, 2024 11:07 am