FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» AAIC Next multibugger- destnation beyond EXPO.
by ADVENTUS Today at 2:14 am

» RENUKA AGRI FOODS PLC (RAL.N0000) TP. 7
by Cma Today at 2:08 am

» Sri Lankan Port Transshipment Hub Threats & Opportunities
by rajini Today at 12:53 am

» LANKA INDIAN OIL CORPORATION - Maharaja
by Maharaja Yesterday at 11:07 pm

» ACL; MELS; HHL; BIL; LWL- STOCKS TO WATCH
by Dilshan2020 Yesterday at 10:39 pm

» AAIC 100 = SCAP 16
by SamJay1974 Yesterday at 8:12 pm

» SUNSHINE HOLDINGS PLC (SUN.N0000)
by ADVENTUS Yesterday at 8:02 pm

» APLA - Very very undervalued share - Target Price
by Jana Yesterday at 7:07 pm

» HAYLEYS PLC (HAYL.N0000)
by Chamath1980 Yesterday at 5:07 pm

» New Bermuda Triangle
by rajini Yesterday at 2:17 pm

» BOGAWANTALAWA TEA ESTATES PLC (BOPL.N0000)
by cheetah Yesterday at 6:33 am

» Technical update 12.08.2022 Maharaja
by Maharaja Mon Aug 15, 2022 11:04 pm

» Exterminators Plc (EXT.N)
by ErangaDS Mon Aug 15, 2022 9:09 pm

» ALLIANCE FINANCE COMPANY PLC (ALLI.N0000)
by Gaudente Mon Aug 15, 2022 8:08 pm

» GREAT OPPORTUNITIES FOR EVERYONE-
by ADVENTUS Mon Aug 15, 2022 5:12 pm

» LOLC to enter the giant Indian Market
by samaritan Mon Aug 15, 2022 4:52 pm

» Hidden Gem - GLAS - 40/- Soon
by vijay singh Mon Aug 15, 2022 10:36 am

» Buy lofc tomorrow - Maharaja
by Anushka Perz Mon Aug 15, 2022 12:59 am

» LIOC ....Get in soon
by Citizen Silva Sun Aug 14, 2022 10:26 pm

» L G I L - Maharaja special
by Chula Sun Aug 14, 2022 10:12 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Stop plunder of EPF funds carried out via share market – ICEU

Stop plunder of EPF funds carried out via share market – ICEU

Go down  Message [Page 1 of 1]

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Check out these guys argument. Can anybody verify the following....

Website:http://www.lankatruth.com/en/index.php?option=com_content&view=article&id=345:stop-plunder-of-epf-funds-carried-out-via-share-market-iceu&catid=41:local&Itemid=74


An opportunity has been created through the share market to plunder the EPF that belongs to the working people complains the President of Inter Company Employees Union (ICEU) Wasanthe Samarasinghe. He revealed that Rs.3000 million had been used from EPF funds deceitfully to buy shares of Laugfs Gas and Grain Elevators Company.

Mr. Samarasinghe said a share of Laugfs Gas was valued at Rs.35/-, 36/- and 37/- in the share market but this price was falsely increased to Rs.48/- and Rs.1500 million from the EPF funds has been invested to buy shares at Rs.46/- Immediately after this deal the shares had come down to Rs.40/- he pointed out.

He also revealed that a similar deceitful deal has been carried out with Grain Elevators Company. He said when the value of a share of this company in the market was Rs.75/-, it was artificially increased to Rs.236/- and funds of the EPF was invested in buying shares of the company. Now, a price of a share of the company has come down to Rs.102/- said Mr. Samarasinghe.

The President of ICEU said prices of shares going up in the share market is a normal procedure. However, shares that instantly go up and come down instantly is a sign of a serious deceitful act in the share market.

Mr. Wasanthe Samarasinghe emphasized to the President that steps should be taken to stop the plunder of funds belonging to 6.5 million working people in the country by companies of individuals that support the government.

He said investing funds of the EPF should be approved by its Investment Committee. He said whether such an approval has been obtained for the aforesaid investments is a question and added that millions of rupees from the fund have been given fraudulently via the share market to government supporters.

He said if the plunder of the funds is not stopped herewith, workers will have to take to the streets.

Back to top  Message [Page 1 of 1]

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