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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » How Did Rajendra Theagarajah got the CEO seat at NDB

How Did Rajendra Theagarajah got the CEO seat at NDB

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hunter


Moderator
Moderator
Well...
I rate this post as eye opening.
Now only It shows me the true meaning of a lesson our primary school teachers preached those days.
'Child, be like a bright lotus coming out of muddy water'.

It seems only very few people have fully understood the true meaning between the lines. Now They are like shining lotus and their Roots are in deep rotten mud.

Slstock


Director - Equity Analytics
Director - Equity Analytics
Firstly, I think this post is okay as some info is given in a presentable way. The key to understand an intention of a writer is to see how one presents him/her self.

Is it mudslinging, it is personal promotion , is it personal agenda are is one sharing of info/gossip?

This post is bit of a gossip as far as I can see and according to some facts presented there maybe some partial truth as these things can happen in business world.

I rarely take action unless I have to as we try to tolerate many ideas as possible which does not cause harm to forum health. Sometimes we watch over year before an action is taken.

Time to time people appear in the forum to mudsling or promote politics, drag topics out of focus or create disharmony amongst members.


This post is okay and this is personal opinion.

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Chinwi wrote:
GMNet wrote:These type of posts should be tolerated in the forum provided it does not lead to defamation or slander of a person. There are many conspirational theories that we hear daily, but very few can be considered true.

I also realize that the Forum does not provide stock tips/gossip like what it used to carry before. I am not sure whether it is due to members not providing them or moderators not allowing them to be posted in the forum? Either way, I think it is time that both members and moderators give a little bit of thought to this aspect to retain the enthusiasm and the popularity of this forum as the Sri Lanka's leading stock market discussion platform.

At last you realized it ?


Why should people give valuable hints, analysis or news they get when they get disgraced by self appointed controllers or nonexistent created by some guys ?

When someone publishes any comment, there is a bunch of real people or fake people jump in and give their verdict, give orders to do this and that, write this way that way.

Who asked them to control others ?

Normally, in the public forums, most of the fake accounts are run by some interested person linked to the forum to invoke momentum or guide the forum to the point they desired without disclosing their identity.

As you have given your own ideas, I do not think it is happening here.

I stopped publishing any hints , critical news / gossip, about stocks I collect many months ago.


Agreed with Chinwi,

There was a person, who told the PMB run early in the morning and if I am not mistaken he gave the hint for PAP also. There were many genuine guys to disclose some hints to the market but now only handful of people exists in the forum.
I think Gaja gave the hint for SOY correctly.

We should encourage such things at the same time protecting new comers from unethical promotion.

By the way, Chinwi you can PM some hints to me (if you don’t mind). I will send you a nice smile if I can earn some bucks. That is only I can do. Cool


Deva


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
GMNet, Chiwi, seek etc, Totally agree with you. We don't see contributions from many people who provided hints, tips and the knowledge of their expertise.
There are several categories of investors profiting from this forum. We as part time players like to hear from the expertise who are involved full time.

There are too many people trying to add unwanted comments/ controls which discourage the free flow of ideas. It's fair to control promotional comments without any facts, purely with the idea of manipulation.
Happy trading. Smile



Last edited by Deva on Tue Apr 09, 2013 11:29 am; edited 1 time in total

K.Haputantri


Co-Admin
@K.Haputantri wrote:Guys, I have difficulty in openning page 6 of SHL Prospectus using the link given. Can open upto page 5 and the moment I click to open page 6 the screen goes blank. ?Can any one explain this issue.
Checked the page 6 of the prospectus through CSE web. Barren, your facts are correct. Hence, your post is OK by me as long as you take the responsibility for the insinuations made on the recent appointment based on that fact.

As for the tips, all what I can say is they should be supported by hard facts and analyses, not gossip. This is because there are so many novices as well as old members who might get mislead by un-substantiated tips. Happy trading!

udith


Stock Trader
good post keep it up

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Pathirage is not the only one to get loans. DP also got one from SEYB. I also know of other lesser known fellows who have taken more than 1B in loans to buy shares.

Personally I find this info a bit hard to believe as NDBs top shareholder is the govt and not Pathirage. This particular person along with Rienzie are not in favour.

Also all executive posts have clauses with regards to moving to other competitors. HNB should block this move or request him to resign immediately.

The real power on the NDB board is Chandra Ekanayake. Take a bet she calls all the shots whilst the men hide under the table...... typical sri lanka Razz

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:
Personally I find this info a bit hard to believe as NDBs top shareholder is the govt and not Pathirage. This particular person along with Rienzie are not in favour.

Correct. It is Govt.
I think Dr. Yaddehige has a bigger stake than Pathirage.

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
I think there is CBSL guideline on cooling period, wonder why it is not applicable in this particular instance

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Barren Wuffete wrote:
@Redbulls wrote:We don't need these type of gossip in the talk section.
Should be in the prison.

This is not gossip..These are true facts so far what ever I have posted.It seems this forum is not the forum that used it to be anymore.

Gossip is what people talk without facts.Go find out talk to top CEOs,Chairman in the country and businessmen in the country.You will know what it is.

Dear Redbulls I do not know who you are but if you actually know who I am you will end up in a surprise!

But I am only another member for this forum.


I used to be a only a viewer in this forum since a long time ago.That is why only 10 posts so far.This forum revealed most of the best stories in the stock market long time ago when started.Such as Galadari Debt conversion,Janashakthi brothers buying Orient finance,CDIC selling Aviva,Asia Capital selling Asian Alliance even before news broke it.They were only facts that time nobody talked about those as gossip.

Even you were not there in this forum.Not even admins of this forum who come and post regularly.

I was there..only as a viewer! And I made lots of profit from this forum thanks to the topics that had exclusive content...unlike now.

I know who you are very well and couldn't understand the meaning "who I am you will end up in a surprise!".

Yes I do agree with you some of the following links what you are talking (Galadari, CDIC etc etc) posted in this forum before the news break.

http://forum.srilankaequity.com/t20733-galadari-debt-to-be-converted-to-shares-rs-2250

http://forum.srilankaequity.com/t20723-ctce-who-owns-what

http://forum.srilankaequity.com/t22019-congratulations-and-best-wishes-to-the-new-sec-chairman-dr-nalaka-godahewa

http://forum.srilankaequity.com/t3574-aviva-ndb-insurance-ctce-for-sale

http://forum.srilankaequity.com/t22586-ndb-signs-the-mou-with-aia-to-sell-aviva-ndb

http://forum.srilankaequity.com/t23238-scap-a-very-brief-analysis

http://forum.srilankaequity.com/t23240-why-not-sec-file-action-against-aviva-ndb-ceo-for-white-collar-crimes

http://forum.srilankaequity.com/t25257-how-much-dividends-cdic-is-going-to-declare

http://forum.srilankaequity.com/t26925-dissa-bandara-should-nt-have-been-appointed-as-dg-in-the-first-place

Even you were not there in this forum.Not even admins of this forum who come and post regularly.

As you said same as you I was watching and reading articles and news in this forum from the inception.

Any way I hope those who made comments in this thread are thinking that your posts are not biaased or with hidden agenda.

Carry on your valuable posting with marvellous findings.

nihal123

nihal123
Manager - Equity Analytics
Manager - Equity Analytics
@Barren Wuffete wrote:Do you wish to become a Banking Dealmaker in Sri Lanka by arranging Leverage Buyout Deals that earns you a CEO post when you loose a Job!

The Story. Read Below!

HNB is a leading Licensed Commercial Bank of Sri Lanka
Somewhere before 2008 as far back in 2007 their MD/CEO Rajendra Theagarajah led management offered a bigger loan as big as Rs.1.4 billion to an entrepreneur from Galle -Ashok Pathirage - to buy Asiri Hospital Holdings...

(HNB hadn't offered such big loans to anybody in history as per bankers...except for government of Sri Lanka. Also wheny you go to HNB it is very difficult to get a loan for people.Don't know how Pathirage's software company that time went for such a big loan.)

After that he started building a Platinum conglomerate with many hospitals,insurance company and a finance company,stock brokering company and a stake in a top Investment and a development bank - NDB - in the country while also helping a Malaysian Pastor -Vijay - the founder of Gold Quest to pull out Sri Lankan investments little by little.

Today when Theagarajah loose his job when he asked for 5 year extension from Ranee Jayamaha and when she refuses giving only 2 years extension Theagarajah quickly gives his resignation from HNB and Theagarajah gets a quick job at NDB Bank as its CEO.Thanks to Ashok Pathirage from Galle who owns a majority of NDB!

Is this our banking industry. Once Raj Rajaratnam told if he was in Sri Lanka he can easily invite the Judge for Dinner and give a Rs.50,000 cheque and withdraw the case by getting away away from Insider Trading.

Some say similarly in some banks in Sri Lanka if you offer a Bird to the CEO,or Chairman or offered some great gifts and couple of lunches,dinner at exclusive places you can easily get a loan without going for a background check on credit risk and exposure.

References Link for Softlogic IPO Prospectus -Page 6 -

http://www.softlogic.lk/ipo/ipo-docs/Softlogic%20Prospectus%20Final%20File.pdf

Content - Hatton National Bank PLC Rs.1,400 million (Rs.1.4 billion) Loan with AWPLR+1.5% to Softlogic
Holdings Ltd for the Acquisition of 153,362,050 Asiri Hospitals Holdings PLC Shares (Mandatory offer)

Thanks for your post wb

Expert

Expert
Manager - Equity Analytics
Manager - Equity Analytics
Interesting!

Thanks for posting and for the contributions to it. It did enlighten me :-)

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
I would normally delete any gossip if no source or valid information to believe in the post.. Some ppl just say XXXX will go up so keep an eye... Which is merely a promotion.. Or other come here and mud-sling famous ppl..

Over the years, I've realized that there are several issues in believing gossip;

1. Ppl jump in an buy the roumer and forum could be held responsible for price manipulation
2. New comers can get trapped and curse the forum
3. Any seasoned traders can even buy the roumer and for some reason if they could not get out at correct time, they'll do the same as new comers.
4. Some ppl want to dump their garbage at our members

We would not encourage either one above..

However, stories are nice to here.. And this particular post I can see at least the link was given to find out the truth abt the loan given to Mr. Pathirage..

On the other hand, I also think Dr. Yaddehige and Chandra have better power than Mr. Pathirage.. Wink

We can hear what ppl know abt these in coming days nuh.. Twisted Evil

tharinitheaga


Stock Trader
The management of HNB also evaluated a possibility of acquiring NDB as the assets of NDB was not productively used.The information of the evaluation was also sold out to Pathirage. He used the information strategically to acquire the shares.

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