Author Topic: TSPL -- Tri-Star Power Limited  (Read 2182 times)

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Offline SBM

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TSPL -- Tri-Star Power Limited
« Reply #-1 on: February 08, 2016, 02:35:30 PM »
All about tri star power
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TSPL -- Tri-Star Power Limited
« Reply #-1 on: February 08, 2016, 02:35:30 PM »

Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« on: February 08, 2016, 02:36:05 PM »
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Offline saadqureshi

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Re: TSPL -- Tri-Star Power Limited
« Reply #1 on: February 08, 2016, 02:38:17 PM »
abi to kafi time ha filhal satta he chal raha ha
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are clever.

Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« Reply #2 on: February 08, 2016, 02:51:24 PM »
they were granted a license for such a plant 6 years ago but the project never materialized and the license later revoked due to non payment of fees
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Offline saadqureshi

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Re: TSPL -- Tri-Star Power Limited
« Reply #3 on: February 08, 2016, 02:53:17 PM »
What's ur expert opinion SBM, is it worth risk taking ?
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are clever.

Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« Reply #4 on: February 08, 2016, 03:26:38 PM »
What's ur expert opinion SBM, is it worth risk taking ?

there is no information as to how they will finance the project ..
I expect a large rights offering at par ..
they would need an equity injection of at least 3 billion if total project cost is 15 billion
that implies a 600% rights issue at par
Pretty sure their existing equity is worth nothing

Not sure if these ppl are dependable ... lets c
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Offline rsuleman

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Re: TSPL -- Tri-Star Power Limited
« Reply #5 on: February 08, 2016, 06:59:02 PM »
How reliable Tristar group is can be judged from the performance of its other entities.
Keep an open mind to new ideas. But, ALWAYS do your own homework and use common sense to figure out what's best in your situation.

Offline SAM71

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Re: TSPL -- Tri-Star Power Limited
« Reply #6 on: February 08, 2016, 10:23:50 PM »
How reliable Tristar group is can be judged from the performance of its other entities.

Highly unreliable group...As far as I remember they announced more tha1000%+ rights in 1994/1995 for the purpose of setting up 200-300MW power plant.....This resulted in spike in share price to above Rs. 110.... Later the rights got cancelled.........
One can very well imagine the ordeal of shareholders who would have purchased at Rs. 110......

Offline Alpha

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Re: TSPL -- Tri-Star Power Limited
« Reply #7 on: February 08, 2016, 10:27:13 PM »
How reliable Tristar group is can be judged from the performance of its other entities.

Highly unreliable group...As far as I remember they announced more tha1000%+ rights in 1994/1995 for the purpose of setting up 200-300MW power plant.....This resulted in spike in share price to above Rs. 110.... Later the rights got cancelled.........
One can very well imagine the ordeal of shareholders who would have purchased at Rs. 110......

Kia waqt yaad kara dia bhai,tri star power & tri star shipping!

Offline SAM71

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Re: TSPL -- Tri-Star Power Limited
« Reply #8 on: February 08, 2016, 10:48:31 PM »
How reliable Tristar group is can be judged from the performance of its other entities.

Highly unreliable group...As far as I remember they announced more tha1000%+ rights in 1994/1995 for the purpose of setting up 200-300MW power plant.....This resulted in spike in share price to above Rs. 110.... Later the rights got cancelled.........
One can very well imagine the ordeal of shareholders who would have purchased at Rs. 110......

Tri star shipping had also announced a 300% rights in 1995....but the company is now history...

Kia waqt yaad kara dia bhai,tri star power & tri star shipping!

Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« Reply #9 on: February 08, 2016, 11:04:18 PM »
 :ohmy:

didnt know these things ... thanks for sharing !
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Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« Reply #10 on: February 08, 2016, 11:17:20 PM »
Found this online searching for tri-star ...

http://www.secp.gov.pk/orders/pdf/Order000613.pdf

Mr. Masood T.Baghpattee, the chief executive of the company appeared for hearing on the given
date and offered explanation. He requested to allow to submit more detailed reply
in writing and his request was acceded to. He submitted his explanation in writing
in following manner:-

· The company was incorporated in 1992 with a paid capital of Rs. 200
million and purchased first bulk carrier cargo vessel my Delta Star. The
ship was purchased and 100% financed by the own resources of the
company and no loan was taken from any bank;

· As a result of successful operation of the company, 15% cash dividend
was paid twice to general public shareholders during 1993 and 1994;
· The performance of the company was greatly appreciated by FPCCI and in
recognition of the good performance, a special trophy was awarded by
President of Pakistan.

· The bankers of the company was Allied Bank who offered to provide loan
to company to purchase more vessels and agreed to mortgage the vessels
including the existing one as security against such loans. In view of
economic viability, and the national requirement of bulk carrier vessels,
company agreed to purchase/import five more ships. Pakistan’s annual dry
bulk cargo shipping requirement is over 10 million tons per year whereas
there was not a single bulk carrier vessels was available under Pakistani
flag to carry this cargo and Government of Pakistan is paying over
US$ 1.50 billion every year to foreign shipping companies.

· The company issued right shares for Rs. 400 million and with the loaning
arrangement with Allied Bank, Company expanded her fleet from one
vessel to Six vessels under national flag.

· In the meantime, with the change of political government, the new
government changed the policy towards import of ships and imposed 38%
of import levies on it. This was a complete violation of the E.C.C decision,
which was taken earlier by the previous government and declared that
there will be no import levies/taxes on purchase of ships.

· Due to this sudden change of government policy, the company could not
bring their ships to Pakistan and carry Pakistani cargo. This meant that no
Pakistani cargo was available to Pakistani flag ships.

· During 1996, one of the vessel m.v Delta joy met with an accident while
she was carrying coal to France and some of the coal partly damaged by
seawater. The total commercial value of the cargo was USD 1.90 million
however the charterer/consignee put a large claim of USD 27 million and
arrested 4 vessels of the company in European ports. The company

approached French court who decided to reduce the above amount to
USD 1.45 million and asked the company to put a bank guarantee of 1.45
million as security against alleged loss to the water damaged coal cargo
and ordered for release of the ships upon receipt of such guarantee.
However, it took four months to arrive at such judgment of the court and
during this period, the whole fleet of the company was detained and huge
daily expenses in respect of crew wages, ship expenses, bunkers, and port
charges etc. had to be paid. This situation destroyed the cash flow of the
company.

· The company requested their bankers to arrange the bank guarantee of
USD 1.45 million to get release of the ships as per court judgment
however, in the meantime the management of the bank changed. The new
management decided not to extend any cooperation/assistance to
company and refused to issue the bank guarantee. Due to this act of bank,
company suffered huge losses and filed a case for damages against the
bank vide suit no. 1215/97 in Sindh I ugh Court. As a counter blast, ABL
also filed case under suit No. 1591/97 in the same Court.

· While both the above cases were proceeding in the Court, ABL took a very
harsh and illegal step and lodged a false criminal complaint and registered
a case against the company. The allegation of the bank was false and
never proved. But as a result of this action by the bank, the
undersigned/another director of the company were taken into custody by
F.l.A followed by the detention in the jail. The reputation of the company
and the directors were badly damaged. Alter 2 months, the divisional
bench of Sindh High Court issued the judgment with following remarks:-
1. “No crime or breach of trust or fraud was committed by the company/
directors.”
2. “The company was making regular payments of installments of loans
to the bank. However, due to circumstances beyond control, the
company was unable to continue to pay the installments on due
dates.
3. Copy of the Judgment is on record.

· The company applied for voluntary winding-up in the Sindh High Court due
to the non-cooperation of the bank and the Honourable Court granted the
winding-up petition of the company and judgment was rendered to hand
over the assets and the properties to official assignee of the court. The
copy of the Court Order is on record
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Offline SBM

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Re: TSPL -- Tri-Star Power Limited
« Reply #11 on: February 08, 2016, 11:18:35 PM »
related group still seems to be in business
http://kopakshipping.com/aboutus.htm
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Offline Azmiyz

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Re: TSPL -- Tri-Star Power Limited
« Reply #12 on: April 11, 2016, 12:16:19 PM »
TSPL increased upto 2.60 paisa in last 4-5 trading days. is there any good news in this script or just satta going on?


Offline Stock_Cheeta

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Re: TSPL -- Tri-Star Power Limited
« Reply #13 on: April 11, 2016, 12:40:08 PM »
TSPL increased upto 2.60 paisa in last 4-5 trading days. is there any good news in this script or just satta going on?
Koi new plant install ki news hai but not cnfm

Offline Azmiyz

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Re: TSPL -- Tri-Star Power Limited
« Reply #14 on: April 11, 2016, 04:02:05 PM »
Today UL and there is TP circulated on a facebook page for Rs.8-10 by end of Apr, 2016.

Offline ajaz115

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Re: TSPL -- Tri-Star Power Limited
« Reply #15 on: April 11, 2016, 04:21:12 PM »
ASAL MAY DANA DALA JA RAHA HAY...JIS WAJA SAY YE OPER JA RAHA HAY...AUR BAKRI PHANS NAHI RAHI HAY...JS DIN BAKRI PHANS GAI....YE 2 3 PER AAKAR RUKAY GA

Offline afzalch

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Re: TSPL -- Tri-Star Power Limited
« Reply #16 on: April 11, 2016, 05:21:40 PM »
:ohmy:

didnt know these things ... thanks for sharing !
                  Tri star modarba  :thumbsdown_anim: Be careful from Baghbati group

Offline Stock_Cheeta

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Re: TSPL -- Tri-Star Power Limited
« Reply #17 on: April 11, 2016, 07:31:13 PM »
How reliable Tristar group is can be judged from the performance of its other entities.

Highly unreliable group...As far as I remember they announced more tha1000%+ rights in 1994/1995 for the purpose of setting up 200-300MW power plant.....This resulted in spike in share price to above Rs. 110.... Later the rights got cancelled.........
One can very well imagine the ordeal of shareholders who would have purchased at Rs. 110......
:[ Door Door raho  huhu

Offline saadqureshi

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Re: TSPL -- Tri-Star Power Limited
« Reply #18 on: April 12, 2016, 12:57:27 PM »
sattay men kamyab wohi hta ha jo bilkul shuru men buy kr le, is rate pe to khudkushi lag rahi ha  :dance
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are clever.

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