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The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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+4
stocks hunter
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    2015 Budget benefits, hidden issues - discussion

    slstock
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    Post by slstock Sat Oct 25, 2014 12:45 pm

    I am trying to study the budget as per country development and see how it affects CSE .

    Right now I can say there are multiple sides to some of the moves taken.

    But to start the conversation I see

    Major benefits as below

    1) " Proposals seek to grant a concession by way of a 10% reduction of the corporate tax rate on tax profits from the sale of manufactured products in the local market, by any local manufacturer who has commenced the business during the 1970’s and is engaged in imports substitution."


    Can someone find companies that fit above ?


    2) 50% reduction in the tax rate on profits from any manufacturing business (other than liquor or tobacco) for the period of 5 years (up to a maximum of Rs.500mn), if the following conditions are satisfied;
    - Business is expanded to areas outside Western Province.
    - Investment in depreciable fixed assets more than Rs.300mn.
    - Investment is made within the period 1 April 2015 to 1 April 2017
    - Presently liable to tax at 28%

    3) Seems large companies will get 15% reduction in Electricity costs. That will be a big incentive.



    Some/Minor benefits

    4) Bank / Fin companies will benefit with VAT reduction of 1%. ( But they have to dedicate 2%extra of employee salary to EPF.)
    5) The poultry production industry to be provided export incentives for chicken and eggs
    6) It has been proposed to reduce import taxes of packaging materials required for exports without affecting local industries that manufacture such materials.
    Maybe Uni Dil ( LWL) , Care will benefit?
    7) Some Motor companies


    No change:

    8 ) Tobacco and Alcohol?


    Please add and discuss. If you find a company that will directly benefit please mention.


    My aim here is to kick start,


    Use References :
    http://forum.lankaninvestor.com/t2428-comprehensive-details-on-2015-budget-pwc ( thx Saashi)
    http://forum.lankaninvestor.com/t2429-kpmg-budget-analysis-2015 ( thx reds)



    Vague areas of budget:

    There are some controversial and vague areas of budget. Please do discuss them also.
    Ex: Pensioner 12% interest, Rubber min limit at Rs 300 per Kg


    Last edited by slstock on Sat Oct 25, 2014 1:23 pm; edited 2 times in total
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    Post by First Guy Sat Oct 25, 2014 12:48 pm

    Moved to the new section dedicated to budget discussions. It may be moved to another section later on Smile
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    Post by slstock Sat Oct 25, 2014 1:10 pm

    Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies we can identify such who will benefit.
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    Post by slstock Sat Oct 25, 2014 1:20 pm

    FG,

    Lot of people check Market chit chat section only for updates. It is good to have a separate folder for Budget 2015 info/news , but for threads we want members to actively participate in discussion I think we should keep it in Market Talk if we want people to do so.

    For now we can keep this in Budget201 section but if people do not see , please move to talk by sunday evening.
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    Post by Jana1 Sat Oct 25, 2014 1:45 pm

    slstock wrote:Rubber min limit at Rs 300 per Kg

    If mkt price is 250 per kg then 50/ kg will be given to the farmer by government. If mkt price is 350 then farmers can get 350 rs/kg. The mkt price will not be controlled.
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    Post by slstock Sat Oct 25, 2014 1:51 pm

    This is complicated to do. Does each farmer each week produce receipt for what his produce was sold at?
    Can big plantations benefit too? Can this be like the Fertilizer subsidy that affected CIC and AGST for years.

    On paper this looks nice and encouraging but there are lot of hidden issues in this.



    Jana1 wrote:
    slstock wrote:Rubber min limit at Rs 300 per Kg

    If mkt price is 250 per kg then 50/ kg will be given to the farmer by government. If mkt price is 350 then farmers can get 350 rs/kg. The mkt price will not be controlled.
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    Post by stocks hunter Sat Oct 25, 2014 2:08 pm

    Yoghurt price reduce by Rs3.00.This is an unlucky news for lucky.
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    Post by First Guy Sat Oct 25, 2014 2:11 pm

    stocks hunter wrote:Yoghurt price reduce by Rs3.00.This is an unlucky news for lucky.

    how about the 100/- reduction for milk powder? how will that affect LMF?
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    Post by stocks hunter Sat Oct 25, 2014 2:13 pm

    UML is benefitting here since they have below 1000cc motor car range. No benefit or sometimes volumes may come down in COLO and DIMO since they don't have a below 1000cc vehicle range. Am i correct here?sometimes it may be insignificant as well for COLO and DIMO
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    Post by stocks hunter Sat Oct 25, 2014 2:16 pm

    First Guy,

    I think they don't affect since they are not producing milk powder in SL for the moment. Only do importing and packeting here. This directly goes only to Highland products only.
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    Post by slstock Sat Oct 25, 2014 2:16 pm

    Dimo has Nano.

    Also most of these companies ( not sure COLO) have big items buses, vans which have benefits.


    Overall seems budget is good for Motor sector in general.

    stocks hunter wrote:UML is benefitting here since they have below 1000cc motor car range. No benefit or sometimes volumes may come down in COLO and DIMO since they don't have a below 1000cc vehicle range. Am i correct here?sometimes it may be insignificant as well for COLO and DIMO
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    Post by Jana1 Sat Oct 25, 2014 2:18 pm

    slstock wrote:This is complicated to do.  Does each farmer each week produce receipt for what his produce was sold at?
    Can big plantations benefit too?  Can this be like the Fertilizer subsidy that affected CIC and AGST for years.

    On paper this looks nice and encouraging but there are lot of hidden issues in this.



    Jana1 wrote:
    slstock wrote:Rubber min limit at Rs 300 per Kg

    If mkt price is 250 per kg then 50/ kg will be given to the farmer by government. If mkt price is 350 then farmers can get 350 rs/kg.  The mkt price will not be controlled.

    I don't know how deep this issue has inefficient agendas. But I read 2 months befr guaranteed price matter and it works as I explained. I think this guaranteed price will be reimbursed based on the auction sold. For local transaction, I thought just receipt of both parties are suffice. I dont know hw this system is going to be efficient. Let us wait.
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    Post by slstock Sat Oct 25, 2014 2:23 pm

    Okay I just read, this is for small growers only. Plantation are out. KGAL, KVAL, KOTA back to your drawing boards.


    [quote="Jana1"]
    slstock wrote:This is complicated to do.  Does each farmer each week produce receipt for what his produce was sold at?
    Can big plantations benefit too?  Can this be like the Fertilizer subsidy that affected CIC and AGST for years.

    On paper this looks nice and encouraging but there are lot of hidden issues in this.



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    Post by stocks hunter Sat Oct 25, 2014 2:24 pm

    Browns will have a direct benefit since they are having the electric cars. But don't now how the sales volumes and what kind of a support this can give to BRWN bottomline being a very large company.

    sls,

    NANO mkt is little bit affected due some electrical issues and it has benn rated as the most unsafest motor car in the world. Hence i don't think they can capitalize on this...
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    Post by stocks hunter Sat Oct 25, 2014 2:27 pm

    Friends is LIOC a safe catch now.

    No fuel reduction from the budget or sometimes this may use as a trump card when real election time comes no?


    Last edited by stocks hunter on Sat Oct 25, 2014 2:36 pm; edited 1 time in total
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    Post by slstock Sat Oct 25, 2014 2:30 pm

    There is a election coming + world oil prices have downed = ?


    stocks hunter wrote:Friends is LIOC a safe catch now.

    No fuel reduction from the budget or sometimes this may use as a trump card when real time election comes no?
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    Post by sashimaal Sat Oct 25, 2014 2:33 pm

    Below 300 units is the threshold

    slstock wrote:Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies  we can identify such who will benefit.
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    Post by stocks hunter Sat Oct 25, 2014 2:35 pm

    consumer spending may get a boost due to minimum salary and the increased alllowances. This is good for companies like ODEL,SHL,SINS etc... SINS will get the biggest benefit since they are well spread around the country even in rural areas as well.

    Mean time due to salary increase of GOVT servants there borrowing limits may get a boost and this will influence them to go for land purchases, construction of houses as well. Good for banks since they will come for loans and companies like ACL,KCAB,TKYO etc...etc... will benefit from this.
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    Post by slstock Sat Oct 25, 2014 2:38 pm

    300 units !!!! For Small companies is it ? Thats even smaller than consumption of a colombo 7 house!

    What about medium size?




    sashimaal wrote:Below 300 units is the threshold

    slstock wrote:Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies  we can identify such who will benefit.
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    Post by sashimaal Sat Oct 25, 2014 2:39 pm

    Since reduction happened recently they will wait some more time and announce another reduction.

    slstock wrote:There is a election coming  +  world oil prices have downed =  ?


    stocks hunter wrote:Friends is LIOC a safe catch now.

    No fuel reduction from the budget or sometimes this may use as a trump card when real time election comes no?
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    Post by sashimaal Sat Oct 25, 2014 2:41 pm

    Electricity tariffs for SMEs that use below 300 units to get a 25% tariff reduction... - Ada Derana SMS

    How much do you think the 25% reduction in water for low usage households save? Smile less than Rs 200/year

    slstock wrote:300 units !!!! For Small companies is it ? Thats even smaller than consumption of a colombo 7 house!

    What about medium size?




    sashimaal wrote:Below 300 units is the threshold

    slstock wrote:Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies  we can identify such who will benefit.
    sashimaal
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    Post by sashimaal Sat Oct 25, 2014 2:47 pm

    If those people buy from Odel or SHL companies - Aba Saranai  lol! (just a joke Smile )

    stocks hunter wrote:consumer spending may get a boost due to minimum salary and the increased alllowances. This is good for companies like ODEL,SHL,SINS etc... SINS will get the biggest benefit since they are well spread around the country even in rural areas as well.
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    Post by slstock Sat Oct 25, 2014 3:00 pm

    Not 25% reduction.

    " propose to reduce water charges for households consumption up to 25 units by 10 percent. "

    I won't call this a real incentive. Some may call it ...





    sashimaal wrote:Electricity tariffs for SMEs that use below 300 units to get a 25% tariff reduction... - Ada Derana SMS

    How much do you think the 25% reduction in water for low usage households save? Smile less than Rs 200/year

    slstock wrote:300 units !!!! For Small companies is it ? Thats even smaller than consumption of a colombo 7 house!

    What about medium size?




    sashimaal wrote:Below 300 units is the threshold

    slstock wrote:Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies  we can identify such who will benefit.
    sashimaal
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    Post by sashimaal Sat Oct 25, 2014 3:02 pm

    Correct, 10%.

    The benefit is only Rs 200/year.
    Chanda gundu Smile

    slstock wrote:Not 25% reduction.

    " propose to reduce water charges for households consumption up to 25 units by 10 percent. "

    I won't call this a real  incentive. Some may call it ...





    sashimaal wrote:Electricity tariffs for SMEs that use below 300 units to get a 25% tariff reduction... - Ada Derana SMS

    How much do you think the 25% reduction in water for low usage households save? Smile less than Rs 200/year

    slstock wrote:300 units !!!! For Small companies is it ? Thats even smaller than consumption of a colombo 7 house!

    What about medium size?




    sashimaal wrote:Below 300 units is the threshold

    slstock wrote:Add to above:

    seems small/medium companies will get 25% electricity reductions.

    If we can figure the threshold for medium and small companies  we can identify such who will benefit.
    slstock
    slstock
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    2015 Budget benefits, hidden issues - discussion Empty Re: 2015 Budget benefits, hidden issues - discussion

    Post by slstock Sat Oct 25, 2014 3:32 pm

    Good news

    Electricity Tariffs reduction for Industry from November :

    Okay this is what I found

    * All small business/restaurants/shops which consume less than 300 units ( that less than a colombo house will use but it is another matter ) will get 25% electricity reduction.

    * All other industries will get 15% reduction.
    This is considerable and good news.

    Electricity/Gas heavy companies like GLAS/LWL/TILE/RCL , other manufacturers like ABAN/REG , Hotels , big banks/fin companies with lot of branches will benefit.

    As far as I am concerned this is the biggest incentive so far. except the Tax break for some companies ( which we need to find)

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