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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Rs. 2 per share 'Kick Back' in Expolanka Deal when Japan’s SG Holdings bought 30%

Rs. 2 per share 'Kick Back' in Expolanka Deal when Japan’s SG Holdings bought 30%

2 posters

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DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

It was recently discussed in stock market gatherings that when Japan’s SG Holdings bought 30% stake of Expolanka Holdings for Rs. 6.3 billion although the stake amounting to 586 million shares was done at Rs. 10.70 each the shares were actually traded at around Rs.8.70 since after the transaction the deal makers was paid Rs. 1.1 billion at Rs.2 per share 'Kick Back' by Expolanka Directors.

When the Deal was done existing four directors Osman Kassim, Satter Kassim, Shafik Kassim, Farook Kassim shed 5% each from their existing stakes of 14.5% each whilst Group CEO Hanif Yusoof sold 7% stake.

Buying broker for the deal was Navara Securities (formerly New World Securities) owned by former Ceylinco Money Brokers executive now Navara group Chairman Harsha N. De Silva and the selling broker was Asia Securities. After the Deal several Associate Director Executives who have been even praying everyday morning at Asia Capital office until the Deal went through at Asia Securities have even switched their jobs in the same group beofre getting caught on the 'Kick Back' story.

SG Holdings, the holding company for the Sagawa Group, is a leading logistics company in Japan with a presence in the Asian region. With the view of consolidating its operation in Sri Lanka and strengthening its global presence, SG Holdings bought majority shares of the company in total once the mandatory offer is approved.

DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

But this was discussed in party circles since the payers and certain receivers of the Rs.2 per share 'Kick Back' was going against Sharia Principles and since they have committed Haram and Broken Sharia laws according to experts in religious institutions.

Invest-Wise

Invest-Wise
Manager - Equity Analytics
Manager - Equity Analytics

DealKing....you are talking as if you were part of the deal and you have insight into it. The fact of the matter is you post is 100% inaccurate and baseless. I suggest you mature up and not post such things in public forums. It only shows that you have your head up your ass so much you don't even see the light!

DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Invest-Wise wrote:DealKing....you are talking as if you were part of the deal and you have insight into it. The fact of the matter is you post is 100% inaccurate and baseless. I suggest you mature up and not post such things in public forums. It only shows that you have your head up your ass so much you don't even see the light!

Invest-Wise of course I have the evidence to prove and it is known fact that even the new buyer of Asia Securities - the The York Street Partners is now funded by Expolanka founders lead by Kassim and family.

So Expolanka in return is returning back nearly again another Rs.400 million to Rs.600 million by buying Asia Securities...because the Sagawa of Japan buying Expolanka is not a Great Deal at all.

And even the other Stock Broker owner Navara founder is a one top shady deal maker in the country.He even had a 7 million debt account and withdrawn money without settling money from SMB Securities earlier and that time SMB Securities both CEOs are now working at Navara.

Invest-Wise

Invest-Wise
Manager - Equity Analytics
Manager - Equity Analytics

DealKing why don't you for everyones benefit then publish in this forum the evidence so we know there is some truth to what you are saying. Thanks.

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