By J Kurukulasuriya
Japanese nominee Board members of Nippon Coke and Engineering Co, Akira Ikematsu and Hiroki Tsukigawa disposed of 28,500 shares of Tokyo Cement, at a price of between Rs 61 and 64 on Monday (1). On 27th November they disposed of 250,000 shares at a price of Rs 60 to 60.60.Ikematsu was recently appointed, on 16th September.
In the annual report for the year ended 31st March 2014, the company said, "the Tokyo Cement group was committed to invest in Sri Lanka's future". It had 633 permanent employees at the last financial year end. Because the country imports about 45% of its cement requirement, the company has plans to expand production and seven acres of land was acquired for a US 50 million dollar project.
Nippon Coke and Engineering Co Ltd are a major Japanese Chemical engineering company involved in the manufacture and sale of coke, logistics and recycling. They are Joint Venture collaborators with Tokyo Cement Lanka PLC - Manufacturers of Portland Cement, Pozzolana cement, Masonry Cement and Ready Mixed Concrete.
The excess power generated from its Biomass power plant is sold by the company to the National Grid. They have plans to invest in a second Bio mass plant, according to the Annual report 2014.
Tokyo Cement's subsidiaries are - Fuji Cement Company (Lanka), Limited,Tokyo Super Cement Company Lanka (Private) Limited, Tokyo Cement Power (Lanka) Limited, Tokyo Eastern Cement Company Limited (initial stages) and Tokyo Cement Colombo Terminal (Private) Limited, as listed in its financial statement. The first four of these companies are 100% owned by Tokyo Cement Plc. Tokyo Cement Company (Lanka) PLC is the holding company and enjoyed a tax holiday which ended in June 2013.
The group had a six month profit of Rs 1,179 million for the 6 months to 30th September. Group turnover was Rs 15,336 million up 6% for the six months as compared to the previous year.Net Finance expenses were lower, reflecting the prevailing low interest rates.
In the previous financial year to 31st March 2014 the turnover was 28.9 Billion.
The company has a stated capital of Rs 2,890 million, with reserves of Rs 6,700 million.
There are 222,750,000 voting ordinary shares and 111,375,000 non voting ordinary shares.
The share price has risen steadily from Rs 27.40 on 30th September 2013, to Rs 57 on 30th September 2014. The percentage of voting shares held by Public is 25.5 %. It has 3,063 public shareholders.
The top shareholders of the company are St. Anthony's Consolidated (Pvt) Ltd with 27.5% and Nippon Coke & Engineering Co. Ltd with 23 %.Among the shareholders are Ms Otara Del Gunewardene, of Odel with 688,672 shares. The EPF has 5,961,062 non voting ordinary shares.
S.R. Gnanam, the Managing Director and Chief Executive Officer is also director of St Anthony's Hardware (Pvt) Limited. Independent Non Executive Directors include Dr. Harsha Cabral, and Dr. Indrajit Coomaraswamy.
www.ceylontoday.lk
Japanese nominee Board members of Nippon Coke and Engineering Co, Akira Ikematsu and Hiroki Tsukigawa disposed of 28,500 shares of Tokyo Cement, at a price of between Rs 61 and 64 on Monday (1). On 27th November they disposed of 250,000 shares at a price of Rs 60 to 60.60.Ikematsu was recently appointed, on 16th September.
In the annual report for the year ended 31st March 2014, the company said, "the Tokyo Cement group was committed to invest in Sri Lanka's future". It had 633 permanent employees at the last financial year end. Because the country imports about 45% of its cement requirement, the company has plans to expand production and seven acres of land was acquired for a US 50 million dollar project.
Nippon Coke and Engineering Co Ltd are a major Japanese Chemical engineering company involved in the manufacture and sale of coke, logistics and recycling. They are Joint Venture collaborators with Tokyo Cement Lanka PLC - Manufacturers of Portland Cement, Pozzolana cement, Masonry Cement and Ready Mixed Concrete.
The excess power generated from its Biomass power plant is sold by the company to the National Grid. They have plans to invest in a second Bio mass plant, according to the Annual report 2014.
Tokyo Cement's subsidiaries are - Fuji Cement Company (Lanka), Limited,Tokyo Super Cement Company Lanka (Private) Limited, Tokyo Cement Power (Lanka) Limited, Tokyo Eastern Cement Company Limited (initial stages) and Tokyo Cement Colombo Terminal (Private) Limited, as listed in its financial statement. The first four of these companies are 100% owned by Tokyo Cement Plc. Tokyo Cement Company (Lanka) PLC is the holding company and enjoyed a tax holiday which ended in June 2013.
The group had a six month profit of Rs 1,179 million for the 6 months to 30th September. Group turnover was Rs 15,336 million up 6% for the six months as compared to the previous year.Net Finance expenses were lower, reflecting the prevailing low interest rates.
In the previous financial year to 31st March 2014 the turnover was 28.9 Billion.
The company has a stated capital of Rs 2,890 million, with reserves of Rs 6,700 million.
There are 222,750,000 voting ordinary shares and 111,375,000 non voting ordinary shares.
The share price has risen steadily from Rs 27.40 on 30th September 2013, to Rs 57 on 30th September 2014. The percentage of voting shares held by Public is 25.5 %. It has 3,063 public shareholders.
The top shareholders of the company are St. Anthony's Consolidated (Pvt) Ltd with 27.5% and Nippon Coke & Engineering Co. Ltd with 23 %.Among the shareholders are Ms Otara Del Gunewardene, of Odel with 688,672 shares. The EPF has 5,961,062 non voting ordinary shares.
S.R. Gnanam, the Managing Director and Chief Executive Officer is also director of St Anthony's Hardware (Pvt) Limited. Independent Non Executive Directors include Dr. Harsha Cabral, and Dr. Indrajit Coomaraswamy.
www.ceylontoday.lk
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