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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » is this the reason for market downturn ?

is this the reason for market downturn ?

2 posters

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1is this the reason for market downturn ? Empty is this the reason for market downturn ? Thu Mar 03, 2011 2:40 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

http://www.lankabusinessonline.com/fullstory.php?nid=765863007

Sri Lanka to revamp tax concessions for investors: minister
Mar 03, 2011 (LBO) - Sri Lanka's government is preparing new laws to speed up investment approvals with big projects being passed by parliament and existing tax breaks by the investment promotion agency being abolished, a minister said.

"We have brought a new legislation called the strategic investment law," Sarath Amunugama, senior minister for international monetary co-operation said.

"I was the chairman of a committee to look into this and we have suggested drastic changes and one is to abolish tax concessions given under the Board of Investments (BOI).

"Then whatever tax concessions we have given (will be brought) under the Inland Revenue act."

Amunugama spoke at a development forum organized by the Sri Lankan arm of German public interest think-tank Friedrich-Ebert-Stiftung recently.

"But for special projects, strategic in terms of the need of the country, quantum of investment, quantum of employment and so on - they will come under the strategic investment law," Amunugama said.

Investments in a new port being built next to Colombo Port and a hotel project by Shangri-La (Hotels) will come under the new law under which tax concessions can go up to 99 years and which can override existing legislature, he said.

He said under the current legislature investors have to get the nod from 18 government departments to get relevant approvals for concessions which discourages investors.

"Once it comes under the strategic investment law it will be brought to parliament and will supersede all existing legislature," Amunugama said.

"Right now the investment regime is not working well; we have to set it right."

The BOI, Sri Lanka's investment promotion agency, was set up in 1978 to function as a central facilitation point for foreign investors.

BOI firms account for nearly 65 percent of the islands exports and 86 percent of industrial exports.

In the last 30 years Sri Lanka gave generous tax concessions to lure foreign investors who would otherwise have been deterred by the civil war and political unrest.

The war ended nearly two years ago enabling the government to end tax concessions that had caused heavy revenue losses.

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Whenever the market is down people try to come up with all kinds of reasons. However whenever the market is going up (for no apparent reason) those same people are silent.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

tubal wrote:Whenever the market is down people try to come up with all kinds of reasons. However whenever the market is going up (for no apparent reason) those same people are silent.

true. also people who recommended to sell Buki at 900 are silence when Buki made an announcement

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

You have obviously not read the analysis on that announcement. Please search the forums.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

tubal wrote:You have obviously not read the analysis on that announcement. Please search the forums.

http://www.cse.lk/cmt/uploadAnnounceFiles/1601298552075_456.pdf

This is about future expansion of GOOD hope Asia holdings. In additional to that, GOHP is interested to invest money on Vegetable fat
I can't see any analysis on the announcements.

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

sapumal wrote:
tubal wrote:You have obviously not read the analysis on that announcement. Please search the forums.

http://www.cse.lk/cmt/uploadAnnounceFiles/1601298552075_456.pdf

This is about future expansion of GOOD hope Asia holdings. In additional to that, GOHP is interested to invest money on Vegetable fat
I can't see any analysis on the announcements.


Sapumal, people were discussing that here long before you discovered that link.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

tubal wrote:Sapumal, people were discussing that here long before you discovered that link.

I haven't discovered any link. I just tried to make sure you and me talking about exact announcement.
I can see discussion about the announcement. But no analyze about Buki share price. Anyhow lets forget about those things.

1. Why I can't find anything about """"BUKI.N0000""""" share price in http://forum.srilankaequity.com/search?search_author=tubal ?
2. Still ""you"" believe it is not worth Rs1000 ?

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

sapumal wrote:
tubal wrote:Sapumal, people were discussing that here long before you discovered that link.

I haven't discovered any link. I just tried to make sure you and me talking about exact announcement.
I can see discussion about the announcement. But no analyze about Buki share price. Anyhow lets forget about those things.

1. Why I can't find anything about """"BUKI.N0000""""" share price in http://forum.srilankaequity.com/search?search_author=tubal ?
2. Still ""you"" believe it is not worth Rs1000 ?

LOL! you are not searching for the right term! BUKI in my book is worth about 900 but you are free to buy at the current price. It's your money.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

tubal wrote:
LOL! you are not searching for the right term! BUKI in my book is worth about 900 but you are free to buy at the current price. It's your money.
LOL2
I am not buying it at current price. But if it fall to 1000 I will buy

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