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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Culprits of GSF

Culprits of GSF

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dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
GSF is highly manipulated over the past few days. GSF increases 50% on a daily basis and this happens first thing in the morning. Someone purposely doing this. Number of shares traded in a day is less than 100. They sell one share among manipulators and keep on selling 1 or two shares. Some directors also may play a role in this as this has not gone out to the public that much.

GSF now contributes 1.5% of the total market capitalization and this keeps on increasing everyday since it increases 50% daily. Many people don't know the existence of GSF. However, much reputed undervalued LFIN contributes only 0.45% of the total market capitalization.

If this increase continues, it will lead to a big disaster. This share is only worth Rs. 20/= and if it crashes say from 2500/= to 20/= it will drag the entire market down.

Why relevant authorities don't take any action to end this drama? It is very easy to trace the manipulators as they trade 1 share at a time continuously.

The new ADS system has lots of drawbacks. Even if only one share traded in a day that also taken into account when calculating ASPI. This is a very big bonus for the manipulators.

If this trend continues for another week, GSF will be the number one share in terms of market capitalization overtaking JKH.


42Culprits of GSF - Page 3 Empty Re: Culprits of GSF Wed Sep 19, 2012 11:15 pm

UKboy


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sometimes I really do feel sorry for Dilith Jayaweera & crew. Whenever someone mention this guy's name always retailers come to my mind.
DJ & Crew are lacking how to do things without involving their names. Price appreciation of GSF is a clear indication. When they are under the spotlight they have to be very careful. Taking their own company to a new level ( like this way) means they are just asking more troubles..!

I think Nimal Perera should give some private lessons to this new born gang

Whoever has a connection to this party please convey below my msg.

Please tell them to release more GSF shares to the market. ( from a share holder who doesnot have a direct connection to the top board)

I mentioned Nimal Perera's name not because I know him but I personally believe he is the most professional trader Sri Lanka ever produced.

43Culprits of GSF - Page 3 Empty Re: Culprits of GSF Wed Sep 19, 2012 11:35 pm

RIO


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@monash wrote:

Major Shareholders of GSF as at 17-08-12;

1) Divasa Equity (Pvt)Ltd - 11,475,000 (51.00%)
2) Capital Trust Holdings - 5,625,000 (25.00%)
3) Nalaka Godahewa - 1,125,000 (05.00%)


Oh my God...! affraid see the 02. position...ha ha ha that alone will explain the whole drama

44Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 7:01 am

smallville


Associate Director - Equity Analytics
Associate Director - Equity Analytics
I wonder why dineshfernando has to open a new topic each day for GSF scratch

Another trick for publicity??

45Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 7:53 am

smallville


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Chinwi wrote:
Somehow this is not the first time we see this. I don't think CSE can control this. They never did. Are there any regulations to induce selling by introducing shareholders. ?
If you have million shares and release few thousand to public you can do this.

GSF Directors say they have no idea. Kalas. Then what to do?
If they do not want to sell enough shares why they listed it ? That is the only question we can ask.

As Monash said , If any of bigger holders start selling that will create some trouble.


Good point Chinwi..

The next problem comes to my mind is "Why no price bans?" This has been appreciating almost 20-50% each days and in 5 days a share started at 200 goes at 1500..

The rule is only for the first day that at any price this can move.. But for 5 days???

ඩිරෙක්ටර්ලා පැනපු ගමන් කිව්ව "අපි මුකුත් දන්නෙ නෑ"... ගේමක් දෙනකොට නෝන්ඩි නොවී කරන්න වත් ඉතින් දන්නෙ නෑ නෙව. පවු...?

SEC ඉන්වෙස්ටිගේශන් නෑ.. ඒ ඇය්? ගොඩහේවා නෙ 3rd share හෝල්ඩර් in top 20.

Well organised crimes!!

46Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 9:17 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@UKboy wrote:Sometimes I really do feel sorry for Dilith Jayaweera & crew. Whenever someone mention this guy's name always retailers come to my mind.
DJ & Crew are lacking how to do things without involving their names.


Agreed.

DJ also admitted it openly in his statement w.r.t TK's resignation.
He did not know investing in CSE has no assurance ...... or something ..

As you said they should act now and do something.

47Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 9:33 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ smallville,

I think now you know why I commented like that. ( my first post about wasting our time)

Last week I went to few broker places. No one is concerned about these things.
ඔක්කොම ගල් ගිල්ල බිල්ලෝ වගේ ඔහේ ඉන්නව.
අපි මෙතන මේවා ගණන් හද හද අපේ කාලේ කනවා විතරයි. .

කොහොම උනත් මේකේ ඉන්න අය‍ට ( Some members here) දුන්න නම් නම්බු පිටින් ඕක කරලා දෙයි .

48Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 9:55 am

K.Haputantri

K.Haputantri
Co-Admin
@smallville wrote:
@Chinwi wrote:
Somehow this is not the first time we see this. I don't think CSE can control this. They never did. Are there any regulations to induce selling by introducing shareholders. ?
If you have million shares and release few thousand to public you can do this.

GSF Directors say they have no idea. Kalas. Then what to do?
If they do not want to sell enough shares why they listed it ? That is the only question we can ask.

As Monash said , If any of bigger holders start selling that will create some trouble.


Good point Chinwi..

The next problem comes to my mind is "Why no price bans?" This has been appreciating almost 20-50% each days and in 5 days a share started at 200 goes at 1500..

The rule is only for the first day that at any price this can move.. But for 5 days???

ඩිරෙක්ටර්ලා පැනපු ගමන් කිව්ව "අපි මුකුත් දන්නෙ නෑ"... ගේමක් දෙනකොට නෝන්ඩි නොවී කරන්න වත් ඉතින් දන්නෙ නෑ නෙව. පවු...?

SEC ඉන්වෙස්ටිගේශන් නෑ.. ඒ ඇය්? ගොඩහේවා නෙ 3rd share හෝල්ඩර් in top 20.

Well organised crimes!!

මේක හරියට එස්ඊසී එ‍කෙ බොසා හොරැත් එක්ක හෙලුවෙන් නටමින් ඉන්නව වගේ වැඩක්. එයා හිතන් ඉන්නෙ ඇදන් ඉන්නෙ දිව සලුවක් කියල. හැබැයි මුලු ලෝකෙටම පේනව එයා හෙලුවෙන් ඉන්න බව. මට කනගාටු වටිනා තනතුරක් හෑල්ලු වෙන එකයි.

පබ්ලිසිටි එක්ස්ෆර්ට්ලටත් වරදින තැන් තියෙනවනෙ. ඩීජේ අතින් වියදම් කරල ප්‍රෙස් ටෝක් දාන්න ගිහින් ඇදගෙන නෑවෙ ඒකයි. දැන් එයා මඩ කරපු වතුර හැමෝම යමරෙට ජොලියට නාගන්නව. නාන්නෙ මඩ කියල කිසි අවබෝධයක් නැහැ. හැබැ උන්ගෙ හර්දය සාක්ෂිය මේව ගැන වැරදි නිවැරදි කවුද කොහොමද කියල දන්නව. ජීඑස්එෆ් එක ගැනත් එහෙමයි. එහෙම නොදන්නව කියල කවුරැහරි කියනවනම් උන් රොබෝ වරැන් වෙන්න ඕනෙ.

කවද හරි මේව ගැන සොයන විධියක් ඇතිවෙයි කියන බලාපොරොත්තුවෙන් අපි ඉදිමු.

49Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 10:08 am

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
So without the points added by GSF and the optimism it creates where would ASI stand?

5600?

50Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 10:29 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@gamaya wrote:So without the points added by GSF and the optimism it creates where would ASI stand?

5600?

it should be about 5740

To get a picture without GSF effect we can use Milanka or S&P graph.
You can see there is no big effect by GSF to the market when you analyze all the graphs.

51Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 11:06 am

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hey, Thanks Chinwi for that quick response.

52Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 11:27 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If there is a condition to sell certain percentage (10% - 20%) of shares to the public (via open market) by the directors within in the certain period of time at a specific price, we can eliminate these kind of manipulations. SEC should introduce a rule to the companies who are listing via introduction. SEC should take a concern on this.

GSF is not the only company which was manipulated when it was listed by introduction. There are many examples such as CDB (late 2010), PCP, PCHH, LOFC etc.

53Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 11:47 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Monster wrote:If there is a condition to sell certain percentage (10% - 20%) of shares to the public (via open market) by the directors within in the certain period of time at a specific price, we can eliminate these kind of manipulations. SEC should introduce a rule to the companies who are listing via introduction. SEC should take a concern on this.

GSF is not the only company which was manipulated when it was listed by introduction. There are many examples such as CDB (late 2010), PCP, PCHH, LOFC etc.

I think that is the need of the hour.
I am going to write this to Dr. Godahewa. I think he can do the adjustment to related criteria withing his tenure.

As you said, this is not the first time.
When Malaysian DIAL did this I tried my best to educate people. Failed.

54Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 1:35 pm

K.Haputantri

K.Haputantri
Co-Admin
@Chinwi wrote:
@Monster wrote:If there is a condition to sell certain percentage (10% - 20%) of shares to the public (via open market) by the directors within in the certain period of time at a specific price, we can eliminate these kind of manipulations. SEC should introduce a rule to the companies who are listing via introduction. SEC should take a concern on this.

GSF is not the only company which was manipulated when it was listed by introduction. There are many examples such as CDB (late 2010), PCP, PCHH, LOFC etc.

I think that is the need of the hour.
I am going to write this to Dr. Godahewa. I think he can do the adjustment to related criteria withing his tenure.

As you said, this is not the first time.
When Malaysian DIAL did this I tried my best to educate people. Failed.

There is another loop-hole in IPO listed companies also. They initially issue & list the required percentage but later buy-back most of it thus effectively reducing the required minimum free float to an insignificant amount. There was a news item, former Chair trying to fix it. I don't know what happened.

55Culprits of GSF - Page 3 Empty Re: Culprits of GSF Thu Sep 20, 2012 3:53 pm

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
While former chair was trying to fix things, we all know what happened to him.

56Culprits of GSF - Page 3 Empty Re: Culprits of GSF Wed Mar 26, 2014 7:34 pm

dhanurrox


Vice President - Equity Analytics
Vice President - Equity Analytics
If you read this again you'll understand lot,1000+ manipulated days over now 75,I guess still too high. Very Happy Very Happy 

57Culprits of GSF - Page 3 Empty Re: Culprits of GSF Wed Mar 26, 2014 10:21 pm

SHARK aka TAH

SHARK aka TAH
Expert
Expert
somebody want it down for merging with another Smile who is the other party

58Culprits of GSF - Page 3 Empty Re: Culprits of GSF Wed Mar 26, 2014 11:28 pm

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
SHARK wrote:somebody want it down for merging with another :)who is the other party

SEYB or COCR

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