FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» IS it right time to stick to warren buffett's most famous saying ???
by xhunter Today at 11:22 pm

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Wolf86 Today at 10:33 pm

» EBCR group of companies
by Wolf86 Today at 10:30 pm

» DIPD/HAYC/HAYL
by Gowri123 Today at 10:05 pm

» CSE - The World's best performer!
by Promoney Today at 9:46 pm

» GLAS will be winner with Super Gain.
by Promoney Today at 7:29 pm

» Daily Foreign Transactions
by Pradeep90 Today at 6:58 pm

» Use the Ten Principles of Value Investing to spot value stocks in the oversold market
by EquityChamp Today at 5:44 pm

» HATTON NATIONAL BANK PLC
by ADVENTUS Today at 4:22 pm

» Investor sentiment - will there ever be a recovery?
by xhunter Today at 4:19 pm

» The strong learn to hang in there and keep bouncing back until they win. Stock market for beginners
by Asoka Samarakone Today at 4:04 pm

» Everybody talks about huge selling. That means there are buyers in the market to buy these shares. Stock market for beginners
by samaritan Today at 4:00 pm

» SHOESHINE BOYS!
by Bakkabwoi Today at 2:36 pm

» CSE - Market status
by stockie Today at 1:06 pm

» Guardian Investment Trust (GUAR) could Sky Rocket
by RJ1010 Today at 9:41 am

» CB to continue the current accommodative monetary policy stance
by samaritan Today at 9:18 am

» PANASIAN POWER PLC (PAP.N0000)
by vijay singh Today at 2:26 am

» Maharaja's Advice
by madukp Today at 1:17 am

» Millennial Capital Youtube Channel
by MillennialC Yesterday at 11:54 pm

» Personal Loans in Sri Lanka from Hatton National Bank
by onenine87 Yesterday at 8:34 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Elusive Maloney’s still have Lankan assets

Elusive Maloney’s still have Lankan assets

Go down  Message [Page 1 of 1]

sriranga

sriranga
Co-Admin
By Duruthu Edirimuni Chandrasekera

Are Sri Lankan authorities looking for the elusive Maloney business couple to question them in connection with the crisis at forestry management company, Touchwood?

The couple which has similar investments in Cambodia and Vietnam is yet to show up – after being asked to – before the Colombo-based Securities and Exchange Commission (SEC) for an inquiry pertaining to alleged fraudulent and suspicious transactions in the company.

Roscoe Maloney and his wife, Swarna, made waves in the Colombo circuit some years back launching Touchwood Investments which offered large tracts of forestry which was managed by the company on behalf of investors.

Their luck changed and eventually led to the Maloneys’ quitting and new owners taking over the company last month. The new owners have been involved in a series of musical chair appointments to the board with controversial parliamentarian D_uminda Silva taking up appointment and the next day resigning.

Touchwood Investment’s new management says that the Maloneys still control other related firms such as Touchwood Ltd, Twood Flooring (Pvt) Ltd, Touchwood (P) Ltd, Green Forestry Ventures (Pvt) Ltd, Farm Grow (Pvt) Ltd and foreign firms Touchwood Cambodia and Touchwood Forestry (Thailand). “Mr. Roscoe Maloney is still the chairman of these firms,” Lanka Kiwilegedera, Chairman Touchwood Investments told the Business Times, adding that his firm has ‘nothing’ to do with those firms.

He said three firms under the Maloneys owe more than Rs. 200 million to Touchwood Investments.
“In this company also there’s no ‘system’,” he said, adding that an internal audit for Touchwood Investment was started on Wednesday. “We found that the cash flow is completely corroded, but we still have hope, as our assets (plantations) remain intact.”

He said that under his direction ‘all’ sales and marketing operations have been temporarily halted.
http://www.sundaytimes.lk/131020/business-times/elusive-maloneys-still-have-lankan-assets-66029.html

http://sharemarket-srilanka.blogspot.co.uk/

Rocky

Rocky
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
All the maloney talk is 'baloney'!
True they played out the shareholders.
But they have now handed it over for further development to a another set who can beat them at it.

Somehow, someone wants the share price to go up again for short gains. Some will be collect at > 5.50 and hit 'deadwood'. The musical chairs will continue for a few more rounds until the 'someone' can quit with the booty.

The 'root cause' of the 'wood rot' lies beneath.
One must be very superstitious to hang on to touchwood despite what has happened.

You may embark on an investment in a more stable share like HHL rather than taking a direct hit by the 'trunk' when Touchwood falls.




Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum