SAMP.N0000 (Sampath Bank PLC)

serene wrote:

pathfinder wrote:Full subscription of rights  is a good news for SAMP.

@Serene-Looks like you are in an eternal love with SAMP. Such a love isn't advised for a good investor/Trader

@pjrn-I also had similar experience with HNB few years ago.Now I see same sort of things happening in SAMP too.Management should think more on customer care.

Technically SAMP is trying to form a base around 140. Longterm investors can take positions now.
Traders may wait till a new identifiable positive trend begins.

Hitha giya thena maligawa kiyanawane.
No love below 137 mate...
Now Its up to SAMP to keep me or get rid of.
To be frank Im commited.

Also want to emphasis that I'm not expecting a good quarerly report for June.

Good going.

Definitely SAMP is more valuable than the current price. Hope this upward movement continue to its real value.

Investor Prabhash Subasinghe buys 5% of Sampath shares and enters Board

Business tycoon Prabhash Subasinghe has purchased 5% of the shares of Sampath Bank through its recent Rights Issue and has been invited to its Board of Directors, The Sunday Morning Business learns.

Subasinghe is Chairman of Global Rubber Industries (Pvt) Ltd., Managing Director at Global Sea Foods (Pvt) Ltd., and Chairman at Sri Lanka Association of Manufacturers and Exporters of Rubber Products.

With the addition of Subasinghe, the Board of Sampath Bank has 15 members, led by Chairman Malik Ranasinghe.

Subasinghe is also on the board of SANASA Development Bank Plc and The Sri Lanka Society of Rubber Industry. He is a former President of Seafood Exporters Association of Sri Lanka.

He holds over 30% of shares at Ceylinco Insurance PLC, under his name and through Global Rubber Industries and Global Sea Foods (Pvt) Ltd.

On March 1st Sampath Bank announced a rights issues in early June of 89 million but the issue was under subscribed with only 61.5 million rights being collected by shareholders. The bank announced on 28th July that the allotments amounting to 25.4 million shares were made to investors sourced by the Board.

Sampath shares were trading at Rs.231 when the rights issue was announced on 1st March, but is currently trading at Rs. 142.

Yap. Things are looking good for SAMP after quite a some time.
Though Foreign selling is still visible.

We could see very good buying interest for SAMP in the market last couple of days.
Hope this continue towards at least reasonable price for SAMP.

Sampath Bank's successful rights issue enables future expansion plans: MD

Recently concluded Sampath Bank right issue was very successful because its per share value in the Colombo Stock Exchange (CSE) appreciated by more than 13 percent after issuing 89 million shares to the existing shareholders. Therefore, it was oversubscribed, and the Bank was able to raise Rs 12.1 billion, Sampath Bank Managing Director Nanda Fernando said yesterday.


"The fully subscribed right issue will be able to meet future expansion plans and conform to be Basel requirement. On top of that during the right issue per share value Rs 136 and now it had appreciated by 13 percent or Rs 153.50," Fernando told media at Sampath Bank board room at Head Office in Colombo.


He said that during the right issue market went down steeply but Sampath Bank share value did not go down below the market value. Due to the current economic and political uncertainty the performance of the bank is quite satisfactory compared to the industry performance, Managing Director said.


When it comes to past performance its 2019 first quarter performance was 23 percent higher than the last year performance in spite of economic and political turbulence in the country, he said. "The reason being the bank performed well with prudent management of growth, risk and cost," he said.


Fernando said that more than 80 percent of its foreign shareholders and large shareholders bought shares during the right issue when they saw a major dip in the stock market itself.


He said the timing for the right issue was not the best time, but were able to do so successfully because of the high confidence level on the Bank.


The current market conditions are not conducive for any business entity, however other main reasons for the bank to go for a right issue were capital adequacy ratio and buffer insufficient to other private sector peers, he said.


The non performing loan ration doubled during the last one and half years in the entire industry which was 2.5 percent in 2014 and during the first quarter of the year (2019) it had increased by 4.4. The Sampath Bank non performing loan ratio touched 4.8, he said.


The credit growth of the Bank at the end of the year has been predicted 10 percent and in the first quarter of the year it was 3.2 percent. However, industry credit growth is around 1.5 percent, Fernando said.

SAMP is like a faithful wife to me. no matter how worse the situation or public perception, they still make you feel secure and back you. I got a lifetime opportunity to fill my bags around 137 and literally I locked them up for a good many years.

Time Frame - Monthly Chart
Technically SAMP is running in the upward Channel and Nicely It was supported at the lower line of the Channel around 134-137rs
Red arrow line shows the Where SAMP is going in LT journey
Black colour lines shows two Possible  resistance lines in MT-LT journey
Green colour Zig zag line just drawn to indicate the one POSSIBLE route and but It may not be the exact way some time
good Luck!

Thanks NEWER,

I remember SAMP @ 360/= ,really wanted to buy......... Couldn't buy up to now

But now 150+ and hoping to enter before 180/= for never sell basket

SAMP is my favorite banking stock. Why it is at current levels is due to three right issues in two years and higher bad loans provisions due to new laws.

xmart wrote:SAMP is like a faithful wife to me. no matter how worse the situation or public perception, they still make you feel secure and back you. I got a lifetime opportunity tdo fill my bags around 137 and literally I locked them up for a good many years.

Same here mate.
Entered at 137 and currently most secured one in my PF.

ruwan326 wrote:Thanks NEWER,

I remember SAMP @ 360/= ,really wanted to buy......... Couldn't buy up to now

But now 150+ and hoping to enter before 180/= for never sell basket

I"m adding to my PF at every 10 rupee appreciation.

serene wrote:

ruwan326 wrote:Thanks NEWER,

I remember SAMP @ 360/= ,really wanted to buy......... Couldn't buy up to now

But now 150+ and hoping to enter before 180/= for never sell basket

I"m adding to my PF at every 10 rupee appreciation.

Good in the short term. But in the long term prepare to add even in every 10 rupee depreciation. We will have to face another three quarters of provisioning on unrealized bad loans around 4-5bn per quarter which is huge and will add more dilution when you compare YoY results.

The Invisible wrote:

serene wrote:

ruwan326 wrote:Thanks NEWER,

I remember SAMP @ 360/= ,really wanted to buy......... Couldn't buy up to now

But now 150+ and hoping to enter before 180/= for never sell basket

I"m adding to my PF at every 10 rupee appreciation.

Good in the short term. But in the long term prepare to add even in every 10 rupee depreciation. We will have to face another three quarters of provisioning on unrealized bad loans around 4-5bn per quarter which is huge and will add more dilution when you compare YoY results.

Yap no high hopes for this quarter interims.

Let me publish SAMP detailed analysis including financial forecast. More than other three big banks what Sampath did wrong was to have three rights issues within just two years. That made confusion in the minds of investors as to whether the bank don't know what exactly they wanted to do. Even I have tough times in answering the same question why they went for three rights issues instead of well planned one big one. This coupled with mammoth provisioning has destroyed the share price more than the other three banks.

What is now happening is investors have seen the oversold position of SAMP stock for long time and they are make use of the opportunity for trade. I do not think this is the right SAMP price for investors who are thinking to establish long term positions.

The Invisible wrote:Let me publish SAMP detailed analysis including financial forecast. More than other three big banks what Sampath did wrong was to have three rights issues within just two years. That made confusion in the minds of investors as to whether the bank don't know what exactly they wanted to do. Even I have tough times in answering the same question why they went for three rights issues instead of well planned one big one. This coupled with mammoth provisioning has destroyed the share price more than the other three banks.

What is now happening is investors have seen the oversold position of SAMP stock for long time and they are make use of the opportunity for trade. I do not think this is the right SAMP price for investors who are thinking to establish long term positions.  

Also can someone come up with the extend of possible improvement in net Interest Income after these colossal Rights.
As these are Zero cost funds to the Bank their interest margin should be improved considerably.

Rs.160/= Guys...

I have done some estimates & accordingly I can see Sampath Bank managing to just surpass the earnings reported last year. Maybe current prices are worth buying and that's what investors are doing right now. However I have yet to conclude the numbers.

The Invisible wrote:I have done some estimates & accordingly I can see Sampath Bank managing to just surpass the earnings reported last year. Maybe current prices are worth buying and that's what investors are doing right now. However I have yet to conclude the numbers.

Good Invi. we are Waiting...

Investors seams to giving more interest towards fundamentally strong shares. Still SAMP is under valued but we may see fast recovery towards actual value of share.

I like to wait for QR.......... This might be the cooling off for ASI 02nd August probably... Or journey continue towards 6000 ....

ruwan326 wrote:I like to wait for QR.......... This might be the cooling off for ASI   02nd August probably... Or journey continue towards 6000  ....

Noted.
There will be buyers even after a bad report.
What if "YAKA echchara Kalu nethi Unoth"

serene wrote:

ruwan326 wrote:I like to wait for QR.......... This might be the cooling off for ASI   02nd August probably... Or journey continue towards 6000  ....

Noted.
There will be buyers even after a bad report.
What if "YAKA echchara Kalu nethi Unoth"

Yes the devil you want to see is not darker than you think

The Invisible wrote:

serene wrote:

ruwan326 wrote:I like to wait for QR.......... This might be the cooling off for ASI   02nd August probably... Or journey continue towards 6000  ....

Noted.
There will be buyers even after a bad report.
What if "YAKA echchara Kalu nethi Unoth"

Yes the devil you want to see is not darker than you think

Invi , YAKA Kola pata nam ne kohomath, aduma gane Nil pata hari Thembili pata hari unoth. Rosa patath awlak ne,Api Kohomath aasaine Rosa patata.

Mata hithenne Uda Kola pata wela yata Rosa pata wei kiyala,,I mean the P & L,

යකා Light Green වෙනවට තමයි මන් කැමැති

ruwan326 wrote:යකා Light Green වෙනවට තමයි මන් කැමැති

Same here