The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Coronavirus Updates
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyToday at 1:19 pm by The Invisible

» Sri Lanka finance companies pressured by Coronavirus: Fitch
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyToday at 1:12 pm by The Invisible

» Sri Lanka appeals for forex inflows to combat COVID-19, lifts inward restrictions
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyYesterday at 8:49 pm by The Invisible

» Sri Lanka to control imports except oil and medicines, grow vegetables: Minister
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyYesterday at 8:48 pm by The Invisible

» ඇඳුම නං නරක නෑ
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Apr 01, 2020 9:48 am by The Invisible

» Thread for News on CSE and SL Economy
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 31, 2020 3:51 pm by The Invisible

» Kagame gives food, free electricity to every household during lockdown
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 31, 2020 10:07 am by කිත්සිරි ද සිල්වා

» MARKET HOLIDAY ON 30TH MARCH 2020
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySun Mar 29, 2020 10:09 pm by කිත්සිරි ද සිල්වා

» Power of Social Media
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySun Mar 29, 2020 1:19 pm by කිත්සිරි ද සිල්වා

» මනුස්සකම
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySun Mar 29, 2020 10:10 am by LSE

» 450 Ivy League courses you can take online right now for free
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySat Mar 28, 2020 2:32 am by pjrngroup

» Thread for News on International Markets
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 27, 2020 4:12 pm by The Invisible

» අය කළ ණය වාරික නැවත ලබා දෙනවා – මහජන බැංකු සභාපති කියයි
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 27, 2020 12:02 pm by nihal123

» මේ දුප්පත් රටට ඔබේ ජීවිතය බේරලා දෙන්න උදව් කරන්න.
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 26, 2020 4:26 pm by malanp

» Coronavirus COVID-19 Live update
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 25, 2020 7:59 pm by nihal123

» Anytime Data
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 25, 2020 4:07 pm by pjrngroup

» Films - To Watch List
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 25, 2020 12:05 pm by yellow knife

» US Embassy urges Americans in Sri Lanka to leave
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 25, 2020 8:16 am by The Invisible

» Oil, Gold & Silver Prices
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 24, 2020 9:59 pm by කිත්සිරි ද සිල්වා

» Why we need to practise social distancing
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 24, 2020 8:44 pm by chutiputha

» මුළු දිවයිනටම ඇඳීරි නිතිය
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 24, 2020 8:17 pm by chutiputha

» නමක් ගමක් දන්නෙ නෑ රත්තරන් මනුස්සයෙක්
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 24, 2020 6:01 pm by nihal123

» Amazon today cancelled the subscription of books and audio stories
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 24, 2020 5:33 pm by කිත්සිරි ද සිල්වා

» ජනපතිගෙන් ජනතාවට සහන
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyMon Mar 23, 2020 8:59 pm by කිත්සිරි ද සිල්වා

» Sri Lanka asks telecos to give emergency credit to keep in touch in Coronavirus fight
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyMon Mar 23, 2020 7:35 am by The Invisible

» කොටස් වෙළෙඳපොළ හෙට පැය 03කට විවෘත කෙරේ. හැකි නම් නිවසේ සිට වැඩ කරන්න
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyMon Mar 23, 2020 7:18 am by The Invisible

» SAMP.N0000 (Sampath Bank PLC)
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySun Mar 22, 2020 7:52 am by The Invisible

» INDUSTRIAL ASPHALTS (CEYLON) PLC (ASPH.N0000)
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySat Mar 21, 2020 2:27 pm by serene

» Obituary Notice.
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySat Mar 21, 2020 1:13 pm by කිත්සිරි ද සිල්වා

» Sri Lanka makes mini-budget till May 2020 under Presidential powers
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySat Mar 21, 2020 9:49 am by The Invisible

» හෝමාගම රෝහලත් කොරෝනා රෝගීන් සඳහා වෙන් කරයි
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySat Mar 21, 2020 9:43 am by nihal123

» People first, economy next, says top economist
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 20, 2020 9:59 am by Backstage

» කොටස් වෙළෙඳපොළ ගනුදෙනු හෙට යළි ඇරඹෙයි
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 20, 2020 8:34 am by malanp

» ඉන්දීය අගමැති මුළු රටටම ඇඳිරි නීතිය පනවයි
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 20, 2020 8:05 am by The Invisible

» Happy Birthday
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 20, 2020 4:21 am by nihal123

» Sri Lanka to fix fuel prices, build energy stability fund amid COVID-19 crude collapse
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 19, 2020 2:36 pm by කිත්සිරි ද සිල්වා

» නිවසේ සිට වැඩ කරන සතියක් : රජය සහ පුද්ගලික අංශය දෙකටම
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 19, 2020 2:31 pm by The Invisible

» Sri Lanka elections delayed over Coronavirus
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 19, 2020 2:27 pm by The Invisible

» Sri Lanka’s market closed over Coronavirus on March 19
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 19, 2020 9:31 am by The Invisible

» Sri Lanka stock market closed Tuesday in Coronavirus holiday
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyThu Mar 19, 2020 9:23 am by The Invisible

» Sri Lanka President orders 6-month debt moratorium, 4-pct working capital
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 18, 2020 3:17 pm by slstock

» පුත්තලම, හලාවත ඇතුළු ප්‍රදේශ කිහිපයකට පොලිස් ඇඳිරි නිතිය
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyWed Mar 18, 2020 2:45 pm by The Invisible

» Sri Lanka RPCs to pay Rs.1,000 daily wage on higher productivity, trade unions yet to agree
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 17, 2020 3:03 pm by The Invisible

» Sri Lanka Central Bank Governor asks markets to remain calm
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 17, 2020 2:59 pm by The Invisible

» Dividend Announcements
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyTue Mar 17, 2020 12:59 pm by yellow knife

» කන්දකාඩු නිරෝධායන මධ්‍යස්ථානයෙන් ඇසුණු කතාවක්
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyMon Mar 16, 2020 3:22 pm by nihal123

» Cardinal Seeks UN Probe on China’s Coronavirus
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyMon Mar 16, 2020 7:43 am by The Invisible

» සඳුදා රජයේ නිවාඩු දිනයක්
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptySun Mar 15, 2020 10:10 am by The Invisible

» Contagion (2011)
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 13, 2020 10:22 am by Backstage

» රටවල් තුනක සිට ලංකාවට ඇතුල්වීම අද සිට තහනම් කරයි
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 EmptyFri Mar 13, 2020 10:12 am by nihal123

April 2020
SunMonTueWedThuFriSat
   1234
567891011
12131415161718
19202122232425
2627282930  

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by hariesha on Sat Oct 18, 2014 10:39 pm

Valuation Guide to Plantation Sector I : Plantations with Oil Palm Exposure
Attachments
Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Attachment
Plantations - Palm.xlsx.pdf You don't have permission to download attachments.(184 Kb) Downloaded 96 times

hariesha
Top contributor
Top contributor

Posts : 1275
Join date : 2014-04-09

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by pri67ket on Sat Oct 18, 2014 11:15 pm

WATA rocks!!! Very Happy

pri67ket

Posts : 159
Join date : 2014-10-08

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by stocks hunter on Sun Oct 19, 2014 7:41 am

MADU,MASK,BOGA seems to be 100% Tea companies. What's your idea about thoese companies? Plus UDPL,TPL are 99% Tea companies as well. Now the time is for a tea no?
stocks hunter
stocks hunter
Top contributor
Top contributor

Posts : 1280
Join date : 2014-03-16

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by DocStock on Mon May 04, 2015 11:16 pm

Tea is starting to knock, then it will rock and bring the plantations into unforeseen highs in 2016 (weather permitting), fueled by the increased consumption in China/India outpaced by manufacturing reduction in Kenya due to drought.
DocStock
DocStock
Top contributor
Top contributor

Posts : 239
Join date : 2014-03-17

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by slstock on Tue May 05, 2015 8:53 am

Have you taken the wage hike factor into consideration?

There are early sign for better rubber but it is far too early yet. Other issues can offset rubber gains.

Only palm oil companies are a bit safer at this time May 2015)


Anyway be careful on plantation for next 6 months.




DocStock wrote:Tea is starting to knock, then it will rock and bring the plantations into unforeseen highs in 2016 (weather permitting), fueled by the increased consumption in China/India outpaced by manufacturing reduction in Kenya due to drought.


Last edited by slstock on Tue May 05, 2015 9:08 am; edited 1 time in total

_________________
Never listen to anyone including myself without your own study. Only few truly genuine people exist in this world.
Please read : [You must be registered and logged in to see this link.]
---------
slstock
slstock
Veteran
Veteran

Posts : 5907
Join date : 2014-06-12

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by Backstage on Tue May 05, 2015 9:04 am

Tea, rubber prices fall linked to global trend: Planters’ Association
Published : 2:26 am May 5, 2015 |

PA urges Govt. to include RPCs for guaranteed price scheme
Says world commodity prices forecast to reduce further in 2015 with no respite in sight

The Planters’ Association of Ceylon yesterday warned that the drastic fall in local tea and rubber prices – which has led to major losses for Regional Plantation Companies – is part of a broader global trend of decline in commodity prices, which is not expected to reverse in the near future.
The Association, which represents 22 Regional Plantation Companies (RPCs) collectivelyemploying nearly 200,000 workers, explaining that prices are depressed at present due to external reasons, noted that global forecasts reflected a bleak future in the medium term for commodity prices in general.
In its ‘Commodity Market Outlook’ earlier this year, the World Bank forecasted a decline in all nine key commodity price indices in 2015. Indicating a prolonged slump, the report said, “By 2016, a recovery in the prices of some commodities is likely to be underway, although the increases will be small compared to the depths already reached.”
More worryingly, the report indicates that prices of agricultural raw materials which fell by more than 35% between early 2011 and the end of 2014 will continue to contract this year.

Similar to other commodities, prices of tea and rubber have dropped substantially in the world market. According to World Bank data, on average the global price of tea in 2014 was only $ 2.72 – which is lower than in 2013 and 2012 – during which prices were $ 2.86 and $ 2.9 respectively.
Due to other reasons such as turmoil in key export markets including Russia and the Middle East, the price of Ceylon Tea has dipped more sharply. By the first week of April 2015 (on a ‘to-date’ basis) the average price of tea was Rs. 66 (or 13.7%) less than it was a year before at the Colombo Tea Auction.
The fall in price of rubber in the world market has been far more dramatic. From $ 3.38 a kilogramin 2012, rubber (RSS3) has fallen by over 40% to $ 1.96 a kilogramin 2014. In the local market too rubber (RSS3) has declined from Rs. 295 per kg in March 2014 to Rs. 217.50 per kg in March 2015.
“The sharp decline in commodity prices has been highly unfavourable to the Regional Plantation Companies (RPCs) not only directly, but indirectly as well, since many of the major buyers of Ceylon Tea including Russia and the Middle East are major exporters of commodities themselves and the fall in commodity prices reduce their purchasing ability,” Planters’ Association of Ceylon Chairman Roshan Rajadurai explained.

“The situation has become more challenging as the fall in prices comes at a time in which the key markets of Russia, Middle East and Ukraine that account for over 70% of exports of Ceylon Tea, are facing turmoil due to economic sanctions, currency depreciation and military conflict. Buyers have thus switched to lower quality tea available at lower prices and large quantities of teas remain unsold at the weekly Colombo Tea Auctions. The RPCs are forced to increase their borrowings in order to pay the wages and other commitments to the workers and to keep the cash flow intact,” Rajadurai added, noting that in this scenario reducing costs through improved productivity is the only viable solution.
Due to massive losses in both tea and rubber, with production costs at present exceeding prices received at auctions, 19 RPCs collectively made a loss of nearly Rs. 2,850 million on rubber and tea in 2014.
Late last year it was reported that even tea growers in South India are facing a crisis situation amidst falling prices, despite wages of pluckers there being substantially less than in Sri Lanka and the commitment of the companies to the welfare of their worker families also being significantly less than in the case of Sri Lanka.
It was reported that the Indian Rubber Plantations were making a loss for the first time in 80 years, reflecting that the global downturn in commodity prices, both in Tea and Rubber, has significantly impacted the viability of not only plantations in Sri Lanka but those in the neighbouring countries as well.

There are about 400,000 tea smallholders and about 200,000 smallholders in the rubber sector in Sri Lanka. Reflecting the severe fall in commodity prices, the Government has introduced guaranteed prices of Rs. 80 per kg for tea green leaf and Rs. 350per kg for rubber (RSS 1) for the smallholder sector, thus justifying and acknowledging that the prices realised at the Colombo Auctions are not remunerative and are below the cost of production, Rajadurainoted.
“However, it is a matter of regret that the Regional Plantation Companies, which are also producers of tea and rubber,have been exempt from these beneficial schemes while the commitments and liabilities of the Regional Plantation Companies towards their workers and the resident population in their plantations numbering close to one million is far in excess and are incomparable to that of the smallholders,” he said.
The Planters’ Association (PA) Chairman noted that Regional Plantation Companies have to meet all statutory requirements such as EPF, ETF, gratuity, 20 days paid holidays, paid sick leave, attendance bonus, maternity benefits, statutory maternity leave, free maternal and childcare on the estates itself, allowances, free issue ofmedicines, drugs, vaccinations and medicines, total custodian childcare up to five years and guaranteed 300 days of work irrespective of the level of production or the general trading conditions prevailing.

In addition to these facilities, health, sanitation, housing, water, social services, welfare, community facilities and amenities are provided freeofcharge to the whole population resident in the plantations, Rajadurai reminded.
“While the PA appreciates the magnanimity of the Government towards the smallholders, likewise the Regional Plantation Companies which are very significant in the whole supply chain of commodities from production to sale should also be considered even-handedly. Any disruption or dislocation to the formal sector of the plantation industry would have far reaching and long-lasting adverse repercussions because of the million or so people who are dependent on the industry and are resident in the Regional Plantation Company estates,” he cautioned.
Backstage
Backstage
Top contributor
Top contributor

Posts : 3640
Join date : 2014-02-24

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by DocStock on Tue May 05, 2015 5:58 pm

Indeed I forgot the wage hike factor. But that gives me more leeway. And I feel I was overtly euphoric to start with.

What I mean to say is things are/may/will get worse giving more opportunities, but above factors will make these plantations profitable in 2016. Maybe I'm looking to put amuda before 7 miles of sea; but thats just my speculation.

Thanks BS and SLS.

slstock wrote:Have you taken the wage hike factor into consideration?

There are early sign for better rubber but it is far too early  yet. Other issues can offset rubber gains.

Only palm oil companies are  a bit safer at this time May 2015)


Anyway be careful on plantation for next 6 months.




DocStock wrote:Tea is starting to knock, then it will rock and bring the plantations into unforeseen highs in 2016 (weather permitting), fueled by the increased consumption in China/India outpaced by manufacturing reduction in Kenya due to drought.
DocStock
DocStock
Top contributor
Top contributor

Posts : 239
Join date : 2014-03-17

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by slstock on Tue May 05, 2015 6:10 pm

What I mean is don't rush into buying big time now. Wait till iron is hotter.


DocStock wrote:Indeed I forgot the wage hike factor. But that gives me more leeway. And I feel I was overtly euphoric to start with.

What I mean to say is things are/may/will get worse giving more opportunities, but above factors will make these plantations profitable in 2016. Maybe I'm looking to put amuda before 7 miles of sea; but thats just my speculation.

Thanks BS and SLS.

slstock wrote:Have you taken the wage hike factor into consideration?

There are early sign for better rubber but it is far too early  yet. Other issues can offset rubber gains.

Only palm oil companies are  a bit safer at this time May 2015)


Anyway be careful on plantation for next 6 months.




DocStock wrote:Tea is starting to knock, then it will rock and bring the plantations into unforeseen highs in 2016 (weather permitting), fueled by the increased consumption in China/India outpaced by manufacturing reduction in Kenya due to drought.

_________________
Never listen to anyone including myself without your own study. Only few truly genuine people exist in this world.
Please read : [You must be registered and logged in to see this link.]
---------
slstock
slstock
Veteran
Veteran

Posts : 5907
Join date : 2014-06-12

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by Backstage on Wed May 06, 2015 10:34 am

Kerry assures better times for tea trade with Iran
2015-05-06 07:10:48

Unites States Secretary of State, John Kerry had indicated that Sri Lanka’s tea trade, which was affected by US sanctions on Iran, would be normalised within few weeks, a minister said yesterday.

Sri Lanka was unable to export tea directly to Iran because of the US sanctions and therefore the government has been compelled to subsidize the prices.

However, government leaders including Prime Minister Ranil Wickremesinghe, Foreign Affairs Minister Mangala Samaraweera and Planation Minister Lakshman Kiriella raised this matter when they met Mr. Kerry during his visit to Sri Lanka.

He is reported to have said his country was at a delicate stage in the negotiations with Iran on sanctions and requested the Sri Lankan leaders to wait for a few more weeks for any results.

Mr. Kiriella told Daily Mirror that Sri Lankan exporters were unable to open Letters of Credit for their tea exports to Iran because of the sanctions.

“Currently, tea exports to Iran are carried out through third parties. This results in high prices in that market and as such the exporters are at a disadvantage,” he said.

He said 70 per cent of the tea was produced by small holders in Sri Lanka.

During the pre-sanction days Sri Lanka exported nearly Rs.200 million worth of tea ti Iran annually.
Backstage
Backstage
Top contributor
Top contributor

Posts : 3640
Join date : 2014-02-24

Back to top Go down

Plantation Sector  :  Valuation Guide (01) - Based on EPS and PBV						 Empty Re: Plantation Sector : Valuation Guide (01) - Based on EPS and PBV

Post by Market lover on Tue Oct 06, 2015 1:34 pm

[You must be registered and logged in to see this link.]

Market lover
Top contributor
Top contributor

Posts : 595
Join date : 2014-10-15

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum