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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » New investors resurrect crisis-hit CIFL finance company

New investors resurrect crisis-hit CIFL finance company

+7
Bond
Jana
Janaka Gunathilake
Slstock
Fresher
m2_yapa
Gainer
11 posters

Go down  Message [Page 1 of 1]

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
A group of new investors has taken over the crisis-hit Central Investment and Finance PLC (CIFL), which recently experienced a run on its deposits leading to temporary liquidity problems. On Monday, the company announced major changes to the board of dirctors including a new chairman.

The changes took effect from 2nd May, the company said in a filing to the Colombo Stock Exchange
Three new board members, Roscoe Melony, Swarna J. Meloney and Dulan Hettiarachcchi were appointed to the board of the company. K.A.L. Rupasinghe resigned from his position as Chairman and was replaced by Mr. Melony, who is also Touchwood Group Chairman.Ms. Melony was appointed as the acting CEO to fill void created due to the resignation of the company CEO Gamini Karunathilake

The CIFL has been re-invigorated with a capital infusion of US$12 million by the Touchwood Group following the intervention of the Central Bank, officials said. This was reported in the Business Times on 31st March 2013 quoting the former chairman of the company, Mr. Rupasinghe.

www.thesundaytimes.lk

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I c this paper article is a good sign

Fresher


Moderator
Moderator
SO the background of the NEW investors is not an issue? Just the money that matters? Can't believe this is coming from this paper.

Also I'm still confused if this is Touchwood's money or it's Chairman's personal money.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Eithey way, it is not right to screw up TWOD share holders if they can afford this kind of money for something else.

npp wrote:SO the background of the NEW investors is not an issue? Just the money that matters? Can't believe this is coming from this paper.

Also I'm still confused if this is Touchwood's money or it's Chairman's personal money.

Fresher


Moderator
Moderator
@slstock wrote:Eithey way, it is not right to screw up TWOD share holders if they can afford this kind of money for something else.

npp wrote:SO the background of the NEW investors is not an issue? Just the money that matters? Can't believe this is coming from this paper.

Also I'm still confused if this is Touchwood's money or it's Chairman's personal money.

The way I see it, given the TWOD situation is true, the Chairman is getting ready to screw another set of shareholders and customers

6New investors resurrect crisis-hit CIFL finance company Empty CIFL latest news from Sunday Times Sun May 19, 2013 5:21 pm

Janaka Gunathilake


Stock Analytic
Stock Analytic

Please u comments

http://www.sundaytimes.lk/news/news/33449-new-investors-resurrect-crisis-hit-lankan-finance-company.html

Jana

Jana
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It is old news .. doesn't effect anything tomorrow..

Mostly depend on interim report or depend on collector

Bond


Manager - Equity Analytics
Manager - Equity Analytics
These guys still have board control of TWOD. Anyone for a 1.2 billion rights issue? Razz

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
වක්කඩ ලඟ හංගන්නට නොහැකිය හකුරු
දළු ලන විට කොළ මිස නැත වැඩිවෙන ඉතුරු
හැකිවේද මෙලනිට වහන්ට ගලනා සිදුරු
අවදානම මොකට මිතුරු තව ඇත මෝරු

m2_yapa

m2_yapa
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@seek wrote:වක්කඩ ලඟ හංගන්නට නොහැකිය හකුරු
දළු ලන විට කොළ මිස නැත වැඩිවෙන ඉතුරු
හැකිවේද මෙලනිට වහන්ට ගලනා සිදුරු
අවදානම මොකට මිතුරු තව ඇත මෝරු

Wow Hats off

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Baloney will need to resurrect the dead since the March results shows that CIFL is heading the way of TFC

Maybe Baloney can make his gardener the CEO of CIFL, at least he might be able to do a better job than the joke below

http://www.cse.lk/cmt/upload_report_file/1083_1368762302.pdf

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
most investors seems still don,t have faith towards new management



Last edited by cseguide on Fri May 24, 2013 8:00 pm; edited 1 time in total

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
@seek wrote:වක්කඩ ලඟ හංගන්නට නොහැකිය හකුරු
දළු ලන විට කොළ මිස නැත වැඩිවෙන ඉතුරු
හැකිවේද මෙලනිට වහන්ට ගලනා සිදුරු
අවදානම මොකට මිතුරු තව ඇත මෝරු

nice one. Thanks...This is true..

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