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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Touchwood is “forever” but without an office, says Kiwlegedara

Touchwood is “forever” but without an office, says Kiwlegedara

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Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Touchwood would re-commence operations in early June this year although the location of its new office remains a mystery as its chief Lanka Kiwlegedara admitted on Friday that the publicly announced address was indeed a bogus one.

Mr. Kiwlegedara admitted during an interview with the Business Times that they do not have an office from which the Touchwood company is operating from at present. In this respect, he pointed out that the Nawala address was not correct and it was “verbally” informed to the Colombo Stock Exchange (CSE)” but was not aware as to why this was not made public.

However, he claims that while they do not have an office they had recruited at least 15 on the staff of the new Touchwood company with an altogether new management. The board comprises Mr. Kiwlegedara, Anuradha Bandaranayaka, Upul Peiris and the Maloneys (since it was not possible to leave them out due to the ongoing Securities and Exchange Commission inquirySEC) against the two), he explained. Mr. Kiwlegedara said they were awaiting the court decision (on a winding up application) due next month prior to re-commencing operations of the new company. He noted that they would be bringing in a foreign investor from one of his own ventures but all information on the whereabouts or name of the individual or company or country in which this overseas interest was coming from remained anonymous.

Commenting on the concerns of clients attempting to get in touch with him, it was stated that he could not be answering each and every call of even these clients that invested small sums of money. But calling out to all investors in Touchwood, he said, “don’t be frightened because Touchwood is forever.” The chief at Touchwood said that he would incurring personal expenses to the running of the company and had sought foreign investment since local banks were averse to lending due to the negative media reports. Mr. Kiwlegedara pointed out that while it would incur a cost of at least Rs.5 million for a new office, he said they were working on the re-structuring plans for Touchwood. Asking not to be attacked in the media, he lamented that he had undertaken a company which the Maloneys had “nethi naasthi karala thiyana company ekak (wasted).”

http://www.sundaytimes.lk/140427/business-times/touchwood-is-forever-but-without-an-office-says-kiwlegedara-93550.html

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
More dud promises from "dud cheque Kiwula"?

jonta999

jonta999
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
sexy kiula

lux2014

lux2014
Manager - Equity Analytics
Manager - Equity Analytics
What is the track record of Mr Kiwlegedara pl? He seems to be a well meaning person. I ask, because I have a few trees invested in Touchwood and hope we are failing to see the forest due to Kiwle.

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Promises, promises... 
They have broken many of them Sad 

Kouprey


Stock Analytic
Stock Analytic
Nothing changes, same old same old. Same promises today as September 2013, that's because the land in Cambodia has not sold.
The foreign investor is Roscoe.
Lanka wrote personal cheques as Roscoe said land had sold and thus cheques would be honored, oh what a tangled web he weaves.
According to Touchwood website Lanka is an eminent business person, clearly there must be a secondary meaning!
This has dragged on way to long, Touchwood is dead, the Maloneys' need to be returned to answer the Myriad  of questions relating to money transactions and Touchwood business decisions.
Once the land in Cambodia is sold he will potentially disappear, why have the authorities not made contact with the Australian authorities in relation to the arrest warrant for Swarna.

And so the never ending story continues.

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