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FINANCIAL CHRONICLE™ » DAILY 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? Sun Dec 02, 2012 1:09 pm

ddharmawardhane


Equity Analytic
Equity Analytic
Industry sources outline that twice best performed Second best capital market in the world till early 2011 Colombo Stock Exchange started to collapse since August 2010 when former fund manager of **** Bank and ***** ****** Management, C**** E******** who is the present ****** Surveillance of Securities and Exchange Commission submitted a paper considering to put a 10% 'Price Band' or 'Gonibilla Theory' for rising Colombo Stocks and when Sri Lanka’s tall thin accountant type ****** ******* of Price***aterhouse C**pers (P*C) provided his expertise to hamper the broker provided credit for retailers.

According to SEC insiders more recently the same Gonibilla Price Band Creator C***** E****** had done and created a stock market devastating sentence by writing in a SEC Press Release that said 'There is a General Rule Change which will Prohibit employees and Directors of all market intermediaries to trade (buy shares and sell within six months of buying) except in the case of IPO purchases. Investments (over 6 months) are allowed.

C***** E****** - Now
This in turn will affect the stock trading done by Sri Lanka's top billionaires, stock traders and investors as they are board of directors of many market intermediaries.
It is learnt from a Press advertisement of SEC that several licensed Commercial Bank's including Commercial Bank PLC (COMB), National Development Bank PLC (NDB), Hatton National Bank PLC (HNB), Sampath Bank PLC (SAMP), Bank of Ceylon (BOC), margin trading providers such as Seylan Bank PLC (SEYB), Pan Asia Banking Corporation (PABC), Divasa Finance, Asia Asset Finance and Ceylon Investment PLC (CINV) and Ceylon Guardian Investment Trust PLC GUAR) are also falling in to the category of 'Market Intermediaries' where some top billionaires of the island nation who trade daily on stock exchange are on the Director Boards.

According to market sources C***** E*****'s 'Sentencing' will affect some of the top Sri Lankan Billionaires and stock market traders in Sri Lanka including Mano Selvanathan, Hari Selvanathan, Ajitha De Zoysa, Alex Lovell, Ashok Pathirage, Bond King Ajith Devasurendra, CSE Chairman Krishan Balendra, Harry Jayawardena, Dilith Jayaweera, Nimal Perera, Dammika Perera, Ishara Nanyakkara, and Dr. Sena Yaddehige


**** I edited some parts of the article, which include names, because i can't assure authenticity of this detail *****

http://www.elthub.blogspot.com

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
A source please?

Dr Senthilverl is not in the list. Does everyone accept he is an investor and not a trader?

ddharmawardhane


Equity Analytic
Equity Analytic
@slstock wrote:A source please?



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