Caribbean Investment Share Discussion Threads

[noirua] 07/11/2020 13:31

Evil Knieval at play on the sporting scene this November 6:

[noirua] 05/11/2020 11:09

Evil Knieval at play on November 4 with braces holding them up:

[noirua] 02/11/2020 17:19

Evil Knieval at play and racing to save the nation on 2 November:

[noirua] 28/10/2020 18:24

Evil Kneival at play, over the hurdles - 27 October:

[noirua] 21/10/2020 11:46

Evil Knieval at play on October 21:

[noirua] 21/10/2020 11:40

Now trading in the 36p - 42p range and looking fast asleep as any news does not appear likely as the company works through its bad debt situation. The 30p floor just sits there waiting as shareholders who dived in on EK's rhetoric are unsure what to do as he signaled 75p only a short while ago.

[noirua] 14/10/2020 11:47

CIHL have now fallen back into the 40p - 42p range as forecast. The banking sector still looks uncertain so a possibility of sinking further to the 36p level with a major support at 30p. Covid-19 reports are low in Belize with 39 deaths (now 46) but the USA and Mexico is a different matter all together.


Population of Belize 415,000.
Population of United States = 332 million

46 deaths for Belize per capita compared with the United States = 36,520 compared to US deaths at 221,000.

[montyhedge] 28/9/2020 11:00

No dividend again, I'm out.

[noirua] 28/9/2020 09:15

Results should not have been unexpected though a few thought the company was insulated from the effects of the coronavirus. No final dividend does show the directors are concerned about the future and CIHL looks like a longer term hold which some were not expecting. May continue to drift back to the 40p - 42p position shown on the chart.

The Company and its subsidiaries (the "Group") produced a net income before tax of $13.5 million in fiscal 2020 which represents an 8% decrease from prior year's results due largely to an $11.2 million increase in credit impairment charges reflecting management's estimation of an increase in credit losses as a result of the adverse impact of the COVID-19 pandemic on the global economy.

This impairment charge was offset by a non-recurring item of $7.2 million being the reversal of a provision that was established for share options issued in 2008 but which expired in August 2019.

[noirua] 08/9/2020 17:38

Evil Knieval at Play:
8 September

[noirua] 02/9/2020 10:41

Evil Knieval at play:

[noirua] 09/8/2020 12:07

Evil Knievil: Stay longa for wonga
6 August


[Not mentioned in this article, but could EK be wrong on physical gold - or put more carefully 'a bit wrong'. If a bank or another financially involved company goes bust whilst holding your paper gold, do you go down with it?]

[noirua] 09/8/2020 11:54

Some interesting factors concerning gold and banks. I've no idea how this would affect CIHL.

UNPRECEDENTED: Bullion Banks Take Losses On 124 Tonnes Of Scarce Physical Gold, Plus Hedge Funds Also Exposed To Gold Short Squeeze Along With Bullion Banks.
Bullion banks have just taken losses on scarce physical gold, plus some hedge funds are also being caught in the short squeeze along with the bullion banks.

[noirua] 12/7/2020 09:15

I've checked CIHL as much as is possible online and one other source which is what it is and I've no way of checking its reliability. The only negatives that could happen is a sudden rise in covid-19 cases that arrive out of the blue - so far there are very few cases indeed.

His lordship has mopped up a couple of banks and my non trusting other self wonders if there is anything other than these being excellent opportunist purchases. Maybe a move to be less dependent on the Belize government's whims or an antonym of such: After All, they can as a government, get their legislative to agree certain things to insure non-payment of the $100 million or so indirectly owed to CIHL. I'm not knowledgeable on Belize law so my thoughts randomly wonder if they have thoughts about nationalizing all the banks in Belize. That way they would in fact be paying the $100 million to themselves and not owe all that interest that has built up - just a thought, as said. Don't play poker with a guy who is useless at cards but has a loaded gun in their pocket - he/she wins when they lose.

Nationalisation of Belize Electricity Limited
24 November 2011

On June 20 2011 the Belize government nationalised Belize Electricity Limited (BEL), the major supplier of electricity to the Belizean public. The government achieved nationalisation through the acquisition of 70% of the shares in BEL which formerly belonged to the Canadian-based Fortis Group. In this regard, BEL's nationalisation is similar to the nationalisation of Belize Telemedia Limited in August 2009, and the July 2011 re-nationalisation process through which the government compulsorily acquired the shares of companies it believed to be affiliated with Lord Michael Ashcroft. In both nationalisations, the shares of Belizeans were left intact.
[ Seriously read ALL the above link. However, my lack of knowledge on Belize laws means I cannot comment further]

Nationalisation law on telecommunications: On 25 August 2009 the Government enacted the Belize Telecommunications (Amendment) Act 2009 (the Act), which enables it to acquire compulsorily all such property as the Prime Minister, with the approval of the Minister of Finance, considers necessary to take possession of and assume control over telecommunications in Belize.

Laws concerning the Central Bank of Belize volume 2, 1991.

Belize Domestic banks and nationalisation:

[rightnellie] 09/7/2020 15:01

This share just gives and gives, from the wonderful dividend onwards. I doubt whether there will be another dividend this year but the share price appreciation will have made up for that

[noirua] 22/6/2020 07:20

I guess the dividend cancellation was more due to the need to conserve cash to purchase further banks.

[noirua] 15/6/2020 00:37

Mapping the Coronavirus Outbreak Across the World
Updated: 15 June 2020, 00:33 BST


Clue: When scouring the map Belize is at the foot of Mexico.

[noirua] 11/6/2020 17:30

Oh well. Maybe missing out has saved me as banks appear to have reversed sharply. It could be that CIHL banks will be little affected. Last time out went well with the 5.2p divi etc., so I hope it goes well for all.

[wllmherk] 05/6/2020 21:14

I hold CIHL in my ISA with Halifax

wllm

[sambuca] 05/6/2020 18:35

I hold CIHL in my ISA via Barclays.

Sam

[jimbox1] 05/6/2020 10:13

I hold CIHL in an ISA at the Share Centre. No problem trading it.

[noirua] 05/6/2020 09:44

I notice Interactive Investors ii will not trade CIHL online. They will also not allow the share to be held in an ISA.
Trading Account: Unfortunately we are unable to trade this stock on-line. For more information, click here
ISA: This stock may not be held in an ISA or an II Junior ISA.

Strange the ISA bit as I'm holding a private company in Hong Kong, registered in The British Virgin Islands, that has never yet traded, in an ISA. All its assets are in mainland China through a Shanghai subsidiary.
As a side thought. About 670,000 mainland Chinese companies are registered in BVI. They amount to about 42% of the assets registered there at about 650 billion US Dollars.

[skanjete2] 05/6/2020 07:55

His stake in the company stays about the same before and after the transaction. This is not taking advantage of the low share price.

This is just tanking fresh money to overcome the problems to come I think, or, in de best case, finally making work of the expansion plans.
They did the same in 2008/2009.

[live ink] 05/6/2020 07:27

Gentlemen,

Lord Ashcroft has turned £13.5m cash into CIHL shares valued at 38p. I doubt if he thinks the share price will stay at 38p. So I bought a smidgin at 40p.

EK.