Caribbean Investment Share Discussion Threads

[falia] 09/6/2017 10:44

LOL RED TO BLUE COMING

[falia] 09/6/2017 07:17

time to buy more, easy money

[falia] 09/6/2017 07:07

ok blue to red to blue lol

[falia] 09/6/2017 06:59

get ready guys well done all those that bought yesterday

[falia] 09/6/2017 06:41

looks like we gonna start off blue

[eezymunny] 09/6/2017 06:31

Hmmm, if you don't have the accounts then is it not a bit daft to say something is provided for? I see no provisions for this at all.

If they end up getting the cash from GOB and the new (?) subsidiary distributes it all to shareholders then that's 20-odd pence/share so there should be a fair bit more upside (to 27-35p perhaps) but as the company says this is far from guaranteed...

[falia] 09/6/2017 06:29

i can see us starting off red and then boom 100-150% rise

[simon cawkwell] 09/6/2017 02:20

EezyMunny,

I do not have the accounts in front of me. So I thank you for your enquiry. Say the receivable is shown (I'll take your word for it that it is) it may be provided for in full in the accounts. I think the brokers told me that this is the case - but I could be wrong.

Anyway, a price well north of the current level seems appropriate. My guess (and I type this during an amazing election night) is that 40p is not so silly.

The circular to shareholders as to the form extent and timing of the in specie dividend will be available in racing hours later today.

Simon Cawkwell

[eezymunny] 09/6/2017 01:47

Are you sure about that Simon Cawkwell?

The last annual report has

"Government of Belize receivable $25.2m" and note 14 to the accounts suggests to me that it's not provided for as you suggest.

Oh and the 30 Sep 16 interims you refer to has

"Government of Belize receivable $27.4m"

[simon cawkwell] 09/6/2017 01:21

falia,

It depends upon the market's assessment of the GOB's attitude towards privately owned capital. Further, as far as I am aware (can anyone correct me?) the GOB liability to pay circa £20m has not yet been cleared. That said, the 30th September 2016 balance sheet disclosed net assets of c. £40m with the debt due by the GOB entirely provided for. Say the £20m is paid over by GOB and that CIHL is trading at a profit net assets will be £60m or roughly 60p a share. In which event a valuation of 40p a share is not silly - indeed some would argue higher.

Simon Cawkwell

[falia] 09/6/2017 00:48

are these worth 45-50p minimum with that rns

[skanjete2] 08/6/2017 15:38

It wouldn't surprise me if they are dressing CIHL up for a sale.
The spin-off of the legal dispute removes a lot of uncertainty from the picture.
Also, non-performing loans and loss allowances have come down considerably over the last few quarters. The bank is profitable again now.

[colin12345678] 08/6/2017 15:30

Simon it does look very bullish and i look forward to your musings later

[simon cawkwell] 08/6/2017 15:12

Gentlemen,

I am not sure what this RNS means but it looks very bullish to me. I paid 17.6p. I'll reflect upon matters overnight.

Simon Cawkwell

[richardly] 28/5/2017 13:16

hxxp://www.guardian.bz/index.php?option=com_content&view=article&id=13262:eamon-courtney-says-ashcroft-pursuing-central-bank-reserves-a-laughing-matter

[tsmith2] 22/2/2017 15:10

Better less riskier opportunities elsewhere

[tsmith2] 22/2/2017 15:09

So not at all plain sailing.

[skanjete2] 11/2/2017 16:09

Last quarter (12/31/16) seems to have been quite good.

Non performing loans down to less than 3%. This bodes well...

[eezymunny] 07/2/2017 09:30

Is the claim not already in the last b/s?

"Government of Belize receivable 27.4"

In which case settlement would confirm last b/s rather than enhance it?

That would leave nav at c. $54m (£43m) vs mcap c. £18m. A big discount but there is $275m loan book and one imagine CIHL's fortunes much more dependent on the performance of the loan book than anything else.

Possibly pretty cheap but if the loan book deteriorates significantly?

[simon cawkwell] 07/2/2017 09:22

Gentlemen,

The interesting question is whether the Belizean goverment have settled the claim brought against it by CIHL.

Simon Cawkwell

[jswjsw] 27/1/2017 15:01

Excellent move for CIHL in past two days.
Illiquid share - if it duplicates, we'd see 29 in days...
j

[babbler] 10/1/2017 15:26

Heavy assets too...

[apfindley] 10/1/2017 15:19

Shameless ramping from the regular rampers.Heavy debts here.

[tidy 2] 10/1/2017 13:02

Correction EVRH