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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Rs. 300m in Touchwood goes missing

Rs. 300m in Touchwood goes missing

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1Rs. 300m in Touchwood goes missing Empty Rs. 300m in Touchwood goes missing Mon Dec 16, 2013 11:50 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Over Rs. 300 million garnered by Touchwood Investments PLC through investments during the Roscoe/Swarna Maloney administration era are not mentioned in accounts details, reports say.

Touchwood is said to be the only listed firm which is still functioning despite not handing over accounting reports of the 2013 September quarter to the CSE.

Present Chairman of Touchwood Investments PLC, Lanka Wijendra Kiwlegedara says that over Rs. 300 million garnered through processes including debentures have disappeared without a trace.

He has also said that the Maloneys too, have vanished.

According to the last details provided to the CSE, the company has acquired profits of Rs. 17.6 million during the quarter ending on 2013 June 30.

However, according to the above details revealed by Kiwlegedara, these figures too, become incorrect, analysts say.

Analysts further say that under this backdrop, services of the firm's auditors - Dayananda Samarawickrama & Company as well as Tax consultants - BDO partners too, are challenged.
www.srilankamirror.com

2Rs. 300m in Touchwood goes missing Empty Re: Rs. 300m in Touchwood goes missing Mon Dec 16, 2013 2:06 pm

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
CIFL has not submitted Sep quarter results as well.

3Rs. 300m in Touchwood goes missing Empty Re: Rs. 300m in Touchwood goes missing Mon Dec 16, 2013 4:54 pm

notme

notme
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@balapas wrote:CIFL has not submitted Sep quarter results as well.


CIFL tragic is not similar to TWOD case .TWOD is significantly safer than CIFL .

4Rs. 300m in Touchwood goes missing Empty Re: Rs. 300m in Touchwood goes missing Mon Dec 16, 2013 6:52 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
I Suspect even the accountants now Wink Corruption to the roots..

5Rs. 300m in Touchwood goes missing Empty Re: Rs. 300m in Touchwood goes missing Mon Dec 16, 2013 10:44 pm

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@notme wrote:
@balapas wrote:CIFL has not submitted Sep quarter results as well.


CIFL tragic is not similar to  TWOD case .TWOD is significantly safer than CIFL .

I thought it is the other way around.



Last edited by Leon on Mon Dec 16, 2013 10:47 pm; edited 1 time in total (Reason for editing : grammer)

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