Central Investments and Finance PLC -CIFL- Troubles Exposed

ShafrazShauk

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Few months ago CIFL's best marketer had quit the job and had got a new job at Kanrich Finance Ltd (former Next Finance) and pulled out about 6000 customers (6000+ deposits) from CIFL to Kanrich.

As a result new marketers and existing marketers are also finding it difficult to market the products and they have lost confidence of owners as the CIFL owners are pulling out money.

But Central Bank had recommended former CEO MBSL Gamini Karunathilake to be appointed as CEO of CIFL to build confidence.

Chairman K.A. Lakshman Rupasinghe supposed to be pulling out millions from company deposit base for his personal use.

Salaries of employees are not being paid for last month yet.

Several investors who wanted to invest in CIFL has now turned back.

For references contact the employees, owners,and directors of the company and clarify.

troy

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If this is true CBSL as the rgulator has to be blamed. How on earth chaiman pulls out depositors money for his use in a registered finance company..

Moderators pls check the validity of these type of info..

Redbulls

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@troy wrote:If this is true CBSL as the rgulator has to be blamed. How on earth chaiman pulls out depositors money for his use in a registered finance company..

Moderators pls check the validity of these type of info..

I do agree with you million times.
This forum will become like gossipequity.

salt

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Looks like puoseful bad publicity rather than any substance

Slstock

Slstock

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Forum participants treat this as RUMOUR as no validated info is given.

CIFL holders : search the forum as there is lot of discussion and now it has become a highly speculative even than before

smallville

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Its not good to discuss these kinda things in a public forum.. If there's some proof, that's good..

But just saying something is wrong as this can give negative publicity to a company.

hariesha

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Actually with regards to CIFL these are not mere rumors. I don't know about the chairman, but real owner (may be former owner) of this company who had not represent the board, may have swindle the CIFL money. Again some say he has already sold the company (Buyer is said to be another listed company, which is also rumored to be in trouble).

What I can't understand still is why CBSL is slow in taking any action. Probably they are trying to avoid any unnecessary panic situation, which can affect the entire industry. But I won’t be surprised if the entire board is taken “IN” soon.

But as far as equity investors/traders are concerned, these types of situations may give attractive opportunities with some risk.

Gaja

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http://www.sundaytimes.lk/130331/business-times/cash-infusion-for-cifl-to-overcome-liquidity-crisis-38676.html

rainmaker

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So where is TWOD getting the funds from ?

Their market cap is not even US$ 12Million. If they have that kind of money from somewhere wouldn't a buyback be a lot better Wink

SRIAS

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@rainmaker wrote:So where is TWOD getting the funds from ?

Their market cap is not even US$ 12Million. If they have that kind of money from somewhere wouldn't a buyback be a lot better

Touchwood Group's Biological Assets 6.1 Billion

May be they put some of their Biological Assets into Margin A/C,Loan etc.... lol!

hariesha

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So rumors have come true?

Though I didn't mention the name of the listed entity now it's public. Now we have to think what the opportunity price is for CIFL. Lot of people may have bought CIFL @ higher prices. But the opportunity price will be at the price TWOD is subscribing for private placement. @ 2/-, 1/50 or 1/25 or will it be at a higher price?

Slstock

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Rumor has a possibility to come true ofcourse but until officially announced one has to be careful.

Not sure how investors will look at Maloney/TWOD backing CIFL when TWOD itself has many issues with people and complaints ( this forum has a thread)

Am specially wondering how certain TWOD holders will look at this when they complain about not getting their due payments from TWOD and Maloney has resources to back other ventures.

CSE.SAS

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@hariesha wrote:So rumors have come true?

Though I didn't mention the name of the listed entity now it's public. Now we have to think what the opportunity price is for CIFL. Lot of people may have bought CIFL @ higher prices. But the opportunity price will be at the price TWOD is subscribing for private placement. @ 2/-, 1/50 or 1/25 or will it be at a higher price?

The Touchwood group has acquired the Aspic group along with its nine subsidiaries including the CIFL and it has given an assurance to the Central Bank to bring highest standards of business management concentrating more on micro financing and SME loans.

http://forum.srilankaequity.com/t27041-cash-infusion-for-cifl-to-overcome-liquidity-crisis#158148

rainmaker

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@hariesha wrote:So rumors have come true?

Though I didn't mention the name of the listed entity now it's public. Now we have to think what the opportunity price is for CIFL. Lot of people may have bought CIFL @ higher prices. But the opportunity price will be at the price TWOD is subscribing for private placement. @ 2/-, 1/50 or 1/25 or will it be at a higher price?

So you had some inside info. I'm interested to know what you did with? Buy CIFL or TWOD?

By the way if the above is true, this may not be the listed TWOD but rather Touchwood Ltd that is operating out of HK. Hence I don't know how this would impact either firm.

If they own ASPIC, they hold 50% of the stock. The current market cap is $2M and hence a injection of $12M would require a large rights or private placement.

If they are smart, they would do a serious share consolidation after the private placement

anges

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anyone has shares of CIFL please do sell them ASAP ! sell even at a loss !AS THE COMPANY IS IN BAD SHAPE ! Deposters cannot withdraw their cash from the company ! reason being ? your guess is good as mine ! just an advice to my battered investors !

one more advice please dont invest on junk stocks even if its going up in price ! be smart dont be out played by crooks !

Jana

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@anges wrote:anyone has shares of CIFL please do sell them ASAP ! sell even at a loss !AS THE COMPANY IS IN BAD SHAPE ! Deposters cannot withdraw their cash from the company ! reason being ? your guess is good as mine ! just an advice to my battered investors !

one more advice please dont invest on junk stocks even if its going up in price ! be smart dont be out played by crooks !

Anges! I think you missed to buy CIFL.. now you like to collect ... Ha haaa...good ...

Even If the CIFL company losing EPS 1/= per year doesn't matter CIFL high speculative... It will make move again very soon...

any how If the TWOD pump the money here then ... you can't buy CIFL under 8/=...

CSE.SAS

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@Jana wrote:

@anges wrote:anyone has shares of CIFL please do sell them ASAP ! sell even at a loss !AS THE COMPANY IS IN BAD SHAPE ! Deposters cannot withdraw their cash from the company ! reason being ? your guess is good as mine ! just an advice to my battered investors !

one more advice please dont invest on junk stocks even if its going up in price ! be smart dont be out played by crooks !

Anges! I think you missed to buy CIFL.. now you like to collect ... Ha haaa...good ...

Even If the CIFL company losing EPS 1/= per year doesn't matter CIFL high speculative... It will make move again very soon...

any how If the TWOD pump the money here then ... you can't buy CIFL under 8/=...

How you can say under 8/=

Still we don't know what's going inside the company.

May be this money not enough to settle their problem.

Chinwi

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TWOD buys CIFL ?

කොරා කණාට කනවැල අල්ලනවා වාගෙ වෙයි ද ?

Actually this is not the listed TWOD.
Somehow if the owners of TWOD have money to invest like this, that means they can manage the crisis in their own TWOD also. ( until trees grow older enough to cut)

What about the price of TWOD ?

rainmaker

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@Chinwi wrote:TWOD buys CIFL ?

කොරා කණාට කනවැල අල්ලනවා වාගෙ වෙයි ද ?

Actually this is not the listed TWOD.
Somehow if the owners of TWOD have money to invest like this, that means they can manage the crisis in their own TWOD also. ( until trees grow older enough to cut)

What about the price of TWOD ?

Don't count on it. The real liabilities of TWOD are big unknowns

CSE.SAS

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@rainmaker wrote:

@Chinwi wrote:TWOD buys CIFL ?

කොරා කණාට කනවැල අල්ලනවා වාගෙ වෙයි ද ?

Actually this is not the listed TWOD.
Somehow if the owners of TWOD have money to invest like this, that means they can manage the crisis in their own TWOD also. ( until trees grow older enough to cut)

What about the price of TWOD ?

Don't count on it. The real liabilities of TWOD are big unknowns

What is their unknown liabilities?

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Central Investments and Finance PLC -CIFL- Troubles Exposed

1 Central Investments and Finance PLC -CIFL- Troubles Exposed Fri Mar 29, 2013 12:44 pm

ShafrazShauk

2 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Fri Mar 29, 2013 2:25 pm

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3 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Fri Mar 29, 2013 2:28 pm

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4 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Fri Mar 29, 2013 3:09 pm

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5 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Fri Mar 29, 2013 3:32 pm

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6 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sat Mar 30, 2013 3:15 pm

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7 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sat Mar 30, 2013 10:10 pm

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8 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 7:32 am

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9 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 8:33 am

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10 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 10:36 am

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11 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 11:02 am

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12 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 11:16 am

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14 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 3:39 pm

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15 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 4:14 pm

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16 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 4:32 pm

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18 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 4:50 pm

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19 Re: Central Investments and Finance PLC -CIFL- Troubles Exposed Sun Mar 31, 2013 4:54 pm

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