DilithJ Vs Dr. Nalaka - "Shameless Role of DailyFT" ... Share your own thoughts

I respect journalists and always respect their right of holding different views. I never prescribe the way journalists and newspapers should write either for or against a particular incident. But I don’t think any one of you will accept if a newspaper intentionally trying to hide something from their valuable readers!

But when I read today’s (27th Aug) DailyFT article “Nalaka steps down as Divasa Finance Chairman” (http://www.ft.lk/2012/08/27/nalaka-steps-down-as-divasa-finance-chairman/ ) I surprised to noticed that how a national level newspaper like “DailyFT” can intentionally hide a known fact from their valued readers.

Accordingly the DailyFT by its Article “Nalaka steps down as Divasa Finance Chairman” has made its fullest effort to hide the connection between controversial investor Mr. Dilith Jayaweera and top professional Dr. Nalaka Godahewa. But the article itself left number of questions in front of the intelligent reader.

Firstly, the article has failed to establish any connection between “resignation of Dr. Godahewa as the Chairman of Divasa Finance Ltd and widely speculated appointment as the new SEC-chairman. (Not a single word mention in the whole article about Dilith Jayaweera).
Secondly, what made “Colombo Land and Development PLC (CLND)” to offer its Chairman post (on 1st June 2010 on the same date that Dilith Jayaweera appointed to the CLND board subsequent to the share purchases by Dilith’s controlled entities) to a representative of the third largest shareholder UDA. http://www.cse.lk/cmt/uploadAnnounceFiles/8941306990410_618.pdf .
Thirdly, what was the requirement to mention here the divested minority stake of 01% in Waskaduwa Beach Resort? Was it the only share transaction executed by Dr. Nalaka recently?

But, true fact comes through the direct like of Dr. Nalaka Godahewa with Mr. Dilith Jayaweera whom widely linked to “Stock Market Mafia” termed by Mr. Thilak Karunarathne resigned recently as the Chairman of SEC, the regulatory body of the Stock Market.

The captioned Divasa Finance Ltd is controlled by Mr. Dilith Jayaweera (http://epaper.lankadeepa.lk/epaper/viewer.aspx ; http://divasafinance.lk/); and Dr. Godahewa was the Chairman (till last week). Since his (Dr. Godahewa) name was the mostly speculated name for next for SEC as the Chairman, and knowing the confrontation between SEC and Dilith, now he has resigned and trying to show “I have no connection with Dilith and I have no barrier to sit there”.

Similar to Divasa Finance Ltd., Dr. Nalaka Godahewa was represented Dilith Jayaweera’s interest in the CLND board. His affiliation to the government and UDA was an additional advantage.
During the same period Dr. Nalaka invested heavily on stocks promoted by Dilith Jayaweeran, including CLND and Waskaduwa Beach Resort. That is very reason for DailyFT to mention of the disposal of shares in Dilith-linked Waskaduwa Beach Resort. (The DailyFT article intentionally hide this connection and but not by oversight)

All these for showing that he (Dr. Nalaka Godahewa) has not connection with Dilith Jayaweera, one of the investors that SEC initialed number of investigations against. And DailyFT wanted to establish the same using the article.

WE REPORT – YOU DECIDE …on the Shameless Role played by DailyFT and for whom……. (I may be totally wrong)

Disclosure- I have a grate respect to Dr. Nalaka for his role played in SLIC, SLTDA and may other positions. Also I strongly believe that he is not suitable for the post "Chairman SEC" or any other regulatory body particular due to visible conflict of interest with ongoing investigation against Dilith Jayaweera and his investments in speculative counters. Also "SEC Chairman" position is for more ethical and for a person with high level of integrity.


Related Stories:
http://www.sundaytimes.lk/120826/business-times/question-mark-over-sltda-chiefs-current-status-9578.html
http://www.ft.lk/2012/08/27/nalaka-steps-down-as-divasa-finance-chairman/
http://www.sundaytimes.lk/index.php?option=com_content&view=article&id=23539:dilith-illang-kewaa-&catid=79:analysis&Itemid=565
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=59795
http://www.dailymirror.lk/news/21321-dilith-says-im-innocent.html
http://www.srilankabrief.org/2012/08/dilith-illang-kewaa-Deleted-calls-sec_26.html

"No official communication so far - Godahewa"

Dr. Nalaka say that there is no official communique although he has received more that 100 phone calls congratulating him of being appointed as SEC chief.

Some interesting paragraph from the article....
------------------------------------------------------------------------
Among other investments, Godahewa is the 7th largest shareholder of Colombo Land & Development PLC, where he sits as the Chairman, and 10th and 16th largest shareholder of Waskaduwa Beach Resort PLC, a subsidiary of Citrus Leisure PLC.
++++++++++++++++++++++++++++
.....some alleging that his Chairmanship in Colombo Land & Development Co. PLC is against the Tourism Act, as the firm recently announced its intention to build a city hotel.

Section 5 of the Tourism Act, No. 38 of 2005 states, “A person shall be disqualified from being appointed or from continuing, as a member of the Authority, if he is, or becomes,— (a) the owner, partner, director, majority shareholder or an employee of, or in, any business which operates or provides tourist services of any class or description.”

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The link to the full article

http://www.dailymirror.lk/business/stock/21442-no-official-communication-so-far-godahewa-.html

hawklk wrote:"No official communication so far - Godahewa"

Dr. Nalaka say that there is no official communique although he has received more that 100 phone calls congratulating him of being appointed as SEC chief.

Some interesting paragraph from the article....
------------------------------------------------------------------------
Among other investments, Godahewa is the 7th largest shareholder of Colombo Land & Development PLC, where he sits as the Chairman, and 10th and 16th largest shareholder of Waskaduwa Beach Resort PLC, a subsidiary of Citrus Leisure PLC.
++++++++++++++++++++++++++++
.....some alleging that his Chairmanship in Colombo Land & Development Co. PLC is against the Tourism Act, as the firm recently announced its intention to build a city hotel.

Section 5 of the Tourism Act, No. 38 of 2005 states, “A person shall be disqualified from being appointed or from continuing, as a member of the Authority, if he is, or becomes,— (a) the owner, partner, director, majority shareholder or an employee of, or in, any business which operates or provides tourist services of any class or description.”

--------------------------------------------------------------------------

The link to the full article

http://www.dailymirror.lk/business/stock/21442-no-official-communication-so-far-godahewa-.html

This is SRILANKA the land like NO OTHER

Aasiye Ascharya...

I realized this FT is always going KADA to few HNWI ( as they called themselves). Then & their I stopped reading DFT. Now I'm reading Island news paper which is balanced and information rich.

wiser wrote:I realized this FT is always going KADA to few HNWI ( as they called themselves). Then & their I stopped reading DFT. Now I'm reading Island news paper which is balanced and information rich.

I am of the same opinion with the Island news reporting

I also mentioned this conflict of interest yesterday as below ( concern of Moneylover)
http://forum.srilankaequity.com/t21890-new-chairman-and-dg-to-be-appointed-to-sec#133032

This is clearly a discussion initiated by people who are really panicked that market would bounce back if Dr Nalaka Godahewa appointed as Chairman SEE. Please do not mislead the forum members. Dr Nalaka Godahewa was on the Board of Colombo land almost 1 year before Dilith Jayaweerea bought a minority stake of Colombo Land. He was appointed Chairman after 1 year with Mr Thudawe resigning becuase for the last 30 years since inception traditionally Colombo Land Chairman was always the UDA representative and only exception was Mr Thudawe who held chairmanship for about 9 years. Chairman has to be appointed with the backing of the Major Shareholders and Mr Thudawe was the nominee of the Singaporean consortium. However having seen Dr Godahewa's contribition since he became a Director the Major Share Holders nominated him to be Chairman requesting Mr Thudawe to step down.

Further whats wrong daily FT reporting that Dr Godahewa one by one is sheding any links to Jayaweera ? Isnt it what all of us want. Why is the anit gvt and development MAFIA so worried that they will not have anything to sling mud at a potential new SEC chairman ?. We saw yesterday what will happen to market just with the anticipation of his appointment. The market reached 23 Bn. Retailers were back not only big boys. More than 10,000 trades took place. This is exacly what the above UNP supporters are panicked about.

Just because Nalaka resigns from Dilith's company's doesn't make him "not" connected anymore.

As far as i can see there is a serious conflict of interest for Nalaka. Remember he was one of those who attended the meeting with HE. And he was not on the SEC side

hettihewa wrote:
Further whats wrong daily FT reporting that Dr Godahewa one by one is sheding any links to Jayaweera ? Isnt it what all of us want. Why is the anit gvt and development MAFIA so worried that they will not have anything to sling mud at a potential new SEC chairman ?. We saw yesterday what will happen to market just with the anticipation of his appointment. The market reached 23 Bn. Retailers were back not only big boys. More than 10,000 trades took place. This is exacly what the above UNP supporters are panicked about.

Ah.. nothing wrong in that approach apart from magnituding the controversial efforts and bringin us the impression Mr.Godahewa comes to the seat cleaned..

I dont see anyone wants to mud-sling the aforementioned personal. His actions could speak louder..
If he's appointed to the SEC seat and subsequently carry on the held investigations and if DJ comes dirty then the friendship and companionship made along the years being held positions in DJ's companies would eventually make Mr. Godahewa defy the allegations.. After all we all are human..
This is what actually most of us are fear about.. All DJ's companies may see a rise in his appointment..
IMO, regardless of the capabilities of the person, having held positions in CLND, Divasa have made him a unsuitable candidate for the position..
We'll have to pray that he'd treat the investors fair in this scenario..

All these so called HNWIs are curropted crooks.

econ wrote:All these so called HNWIs are curropted crooks.

But to gain and recover from CSE we have no option but to follow the trend ..
though we stand and talk about principals - if the biggest shots of the country has no worry about principals and values other than making money and power ...what we can do ..

Lets earn money and do little little good things for the country ..

sanju351 wrote:

if the biggest shots of the country has no worry about principals and values other than making money and power ...what we can do ..

Oh man , I only hope most will not think like that. If everybody thinks like that there will be no justice or hope for Sri Lanka.

Sidath wrote:Just because Nalaka resigns from Dilith's company's doesn't make him "not" connected anymore.

As far as i can see there is a serious conflict of interest for Nalaka. Remember he was one of those who attended the meeting with HE. And he was not on the SEC side

Sidath you need to change the profile picture ....may be in coming days...you may not be an injured/wounded BULL any more.....

This is a very funny argument. Daily FT has reported facts and there is this bunch of people who are trying to find faults with that also. Isn’t the Public has the right to know truth? Or should they hear only the lies propagated by these anti-government mafia?

Hurrah for Daily FT for being impartial.

I dont see anything wrong with Dr. Godahewa resigning from this post. We must salute him for being that much straightforward and being not greedy towards positions.
It is very difficult to find people in Sri Lanka who are willing to resign from posts for whatever reason. Look at Tk.. He is still upset and giving statements to media even after leaving.
Therefore we must appreciate what Dr. Godahewa did without making jealous comments. People who criticize him do not have any solid facts to prove their arguments. Those comments have come from jealous minds who cannot simply bear the success of others.

Moneylower wrote:now he has resigned and trying to show “I have no connection with Dilith and I have no barrier to sit there”.

Accordingly the DailyFT by its Article “Nalaka steps down as Divasa Finance Chairman” has made its fullest effort to hide the connection between controversial investor Mr. Dilith Jayaweera and top professional Dr. Nalaka Godahewa.

What ?

How can someone hide a well known fact. ? Are we fools ?

All who are interested about this subject know who is Dr . Godahewa and his connection with Divasa and DJ.

Reader-base of a paper like Daily FT are not bassunnahes. I am not a supporter of DailyFT but why they should publish all the details when they target a section of the crowd who has enough knowledge about the subject ?

General view was that he has resigned to get the new appointment as DG of SEC. That is a common practice.

traderathome wrote:Sidath you need to change the profile picture ....may be in coming days...you may not be an injured/wounded BULL any more.....

True. The bull maybe wounded but not out for the count

Think Wise wrote:I dont see anything wrong with Dr. Godahewa resigning from this post. We must salute him for being that much straightforward and being not greedy towards positions.
It is very difficult to find people in Sri Lanka who are willing to resign from posts for whatever reason.

Spoken like a true Sri Lankan.
You can't be a big bar owner and a controller of the bars at the same time, at least visible to the public. So she has to show that she's not running bars to get the bar controller position. If you see that as something to salute about then you're truely a Sri Lankan.

I don't know what's happening. But HNW crooks and crony brokers will try their best to appoint one of their male prostitutes for the position. They couldn't do that after throwing out the SEC chief last time because president appointed Thilak that time.

Isn't it very surprising that this writeup uploaded at 11.06 pm yesterday by Money lover had nearly 10 suppoting comments by 6 am in the following day morning. Isn't it possible that it is the same person or people writing these comments together .

Ha ha ha ......it is obvious mate. Stop trying to fool the public.

You created this page for a purpose. Now you are watching this page and continously writing negative comments. None of these are innocent public openions

Readers please be watchful of these organized campaigners who pretend to be the protectors of the nation. They all have hidden agendas.

aj wrote:Spoken like a true Sri Lankan.
You can't be a big bar owner and a controller of the bars at the same time, at least visible to the public. So she has to show that she's not running bars to get the bar controller position. If you see that as something to salute about then you're truely a Sri Lankan.
I don't know what's happening. But HNW crooks and crony brokers will try their best to appoint one of their male prostitutes for the position. They couldn't do that after throwing out the SEC chief last time because president appointed Thilak that time.

Of course I am a true Sri Lankan who loves Sri Lanka and wants to see the country develop. I am not representing the minority of people who waste time on criticizing other people and other country initiatives since they have failed in lives and cannot go forward. That is why it is very difficult to develop this country, since there will always be this bunch of people who are waiting to find some fault or other to prevent things happening.

I am sure Dr Godahewa will do a great job if he is appointed as chairman SEC like what he has done in developing the tourism of Sri Lanka. Dr Godahewa is a top class professional and not a crook or a person without a substance. He has the confidence, courage and skill to handle all stakeholders in the stock market. The people who criticize him are merely jealous and scared of him and cannot bear to see him doing something good to develop the stock market. Because then this bunch of people will be jobless since they don’t have anything else to criticize.

hettihewa wrote:This is clearly a discussion initiated by people who are really panicked that market would bounce back if Dr Nalaka Godahewa appointed as Chairman SEE. Please do not mislead the forum members. Dr Nalaka Godahewa was on the Board of Colombo land almost 1 year before Dilith Jayaweerea bought a minority stake of Colombo Land. He was appointed Chairman after 1 year with Mr Thudawe resigning becuase for the last 30 years since inception traditionally Colombo Land Chairman was always the UDA representative and only exception was Mr Thudawe who held chairmanship for about 9 years. Chairman has to be appointed with the backing of the Major Shareholders and Mr Thudawe was the nominee of the Singaporean consortium. However having seen Dr Godahewa's contribition since he became a Director the Major Share Holders nominated him to be Chairman requesting Mr Thudawe to step down.

Further whats wrong daily FT reporting that Dr Godahewa one by one is sheding any links to Jayaweera ? Isnt it what all of us want. Why is the anit gvt and development MAFIA so worried that they will not have anything to sling mud at a potential new SEC chairman ?. We saw yesterday what will happen to market just with the anticipation of his appointment. The market reached 23 Bn. Retailers were back not only big boys. More than 10,000 trades took place. This is exacly what the above UNP supporters are panicked about.

he may be shedding one by one........the tourism act is very clear...and for all to see it.

I dont know why ...mehema wenne ay.....

A leopard cannot change its spots........

Future will decide whether the statement holds true or false...

TAH

@dharshanmodi: I'd say that's a wrong conclusion. This forum has members all over the world (presumably most Sri Lankans living abroad who has invested money in CSE). So it's very much possible you get comments during night times.

IMHO it's important to be aware of this sort of personal connections (like DJ and Godahewa) from an investors perspective. However, there's not much point in harassing each other over such things, this sort of stuff are common in countries like ours. Just suck it up and learn to live with it... (it would be true for any political party in power)

Cheers!

dharshanmodi wrote:Isn't it very surprising that this writeup uploaded at 11.06 pm yesterday by Money lover had nearly 10 suppoting comments by 6 am in the following day morning. Isn't it possible that it is the same person or people writing these comments together .

Ha ha ha ......it is obvious mate. Stop trying to fool the public.

You created this page for a purpose. Now you are watching this page and continously writing negative comments. None of these are innocent public openions

Readers please be watchful of these organized campaigners who pretend to be the protectors of the nation. They all have hidden agendas.

You have opened your account today and this is your first post. Did you open this account to just write this message?

One more thing...
About this tourism thing. Even if you appoint a mule to look over the tourism after the war, the tourism will develop. Because it's nothing to do with the man, dog or cat in the position, it's because the country was virtually closed for the tourists, so foreigners came in heaps after the war for the new found opportunity. If somebody can say the tourism was developed in 2008 by so and so, THEN that's something.

Sidath wrote:Just because Nalaka resigns from Dilith's company's doesn't make him "not" connected anymore.

As far as i can see there is a serious conflict of interest for Nalaka. Remember he was one of those who attended the meeting with HE. And he was not on the SEC side

Some one who went for the meeting told us that Dr Godahewa walked in quite late for HE's meeting. He has told the people during lunch that he got an official call asking him to come fast for a meeting and he had to rush from his office.

So he couldn't have been on anybody's side on that day becuase he would have been only a spectator.

But one thing is clear. Some one even at that time had seen him as a potential candidate to rescue the sinking ship. Probably they wanted him to see what was going on.

After that famous meeting market continued to go down . Dr PB who was assigned the rescue job also couldn't do much. Even after 3 meetings with stakeholders market confidence did not return. It had bounced back strongly only after the rumors that Dr NG might take over as Chairman.

I am not a promoter of Dr NG. But I am more pragmatic than some of you in this forum. What are your choices for a suitable person who can help market recovery. A clean guy who is willing to undertake this non paying job and listen to music of media and all other stakeholders. Why don't you name them so that we all can canvass and see ?

If you don't have options shall we stop bitching about everything and hope for the best ?

aj wrote:One more thing...
About this tourism thing. Even if you appoint a mule to look over the tourism after the war, the tourism will develop. Because it's nothing to do with the man, dog or cat in the position, it's because the country was virtually closed for the tourists, so foreigners came in heaps after the war for the new found opportunity. If somebody can say the tourism was developed in 2008 by so and so, THEN that's something.

masuran watina katawak aj goyya kiwwe.........

There is always a catchy line or 2 in your comments...i like it ..

TAH