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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » TOUCHWOOD INVESTMENTS - Assets & Liabilities

TOUCHWOOD INVESTMENTS - Assets & Liabilities

+3
SHARK aka TAH
samanthaperera879
aliasjjj
7 posters

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aliasjjj

aliasjjj
Senior Equity Analytic
Senior Equity Analytic

TOUCHWOOD INVESTMENTS - Assets & Liabilities Assets11

TOUCHWOOD INVESTMENTS - Assets & Liabilities Liabil11

What can Ordinary Share holders Expect from Liquidation..? Any Idea..?

samanthaperera879


Senior Equity Analytic
Senior Equity Analytic

aliasjjj wrote:TOUCHWOOD INVESTMENTS - Assets & Liabilities Assets11

TOUCHWOOD INVESTMENTS - Assets & Liabilities Liabil11

What can Ordinary Share holders Expect from Liquidation..? Any Idea..?


Where did you get this Accounts Statement from? They do not own any asset called Deraniyagala Tea Estates Company Limited. And that figure is a complete bogus figure. This was a Property belongs to Bogawanthalawa Tea estates Limited and they managed it on a management Agreement basis, Due to Non payment of rental BETL has taken it back and now there is No asset in the Company. And this was not belongs to Touchwood PLC it was an asset of Aspic Corporation Later bought by Roscoe and Swarna maloney. How did they transfer this asset for such a high value to Touchwood PLC. How did touch wood Paid for this. As you can see first asset itself a Bogus One. And all the other lands were sold to the Tree owners with the Tree Plots. I don't know what will be there for Liquidate anyway.

SHARK aka TAH

SHARK aka TAH
Expert
Expert

What the bloody auditors doing all these years Rolling Eyes

I dont think its EY or the Top 5.. probably local auditors

SHARK aka TAH

SHARK aka TAH
Expert
Expert

Cancel that fellows Licence and put the auditor on professional negiligence and to count the Bars in Welikada Cell or some island or Guantanamo.

SM2014

SM2014
Manager - Equity Analytics
Manager - Equity Analytics

SHARK wrote:What the bloody auditors doing all these years Rolling Eyes

I dont think its EY or the Top 5..  probably local auditors

Dont forget up to 31 March 2012 it was KPMG. I trust only EY. Most of the time they are technically sound. (''Quality in everything we do")

SHARK aka TAH

SHARK aka TAH
Expert
Expert

SM2014 wrote:
SHARK wrote:What the bloody auditors doing all these years Rolling Eyes

I dont think its EY or the Top 5..  probably local auditors

Dont forget up to 31 March 2012 it was KPMG. I trust only EY. Most of the time they are technically sound. (''Quality in everything we do")
They are professionally negligent and they have their own way of interpreting standards due to loop holes Rolling Eyes so case will be dismissed, waste of money Very Happy

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

aliasjjj wrote:

What can Ordinary Share holders Expect from Liquidation..? Any Idea..?

Ordinary shareholders can expect to spend some quality time with Mrs Baloney.

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Auditor should be in jail

Rocky

Rocky
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Investors should be sent to jail for encouraging TOUCHWOOD Directors to carry out wrong practices. they were innocent people until they hot the money into their hands. That's what greed does! So if you loose money due to others fraudulent activities, it's your own fault and the innocent party are the Directors.

Open for debate!

samanthaperera879


Senior Equity Analytic
Senior Equity Analytic

Rocky wrote:Investors should be sent to jail for encouraging TOUCHWOOD Directors to carry out wrong practices. they were innocent people until they hot the money into their hands. That's what greed does! So if you loose money due to others fraudulent activities, it's your own fault and the innocent party are the Directors.

Open for debate!

Rocky who do you mean by Investors? The people who buy the Trees or the Share Holders? As we all know Tree Buyers are just the people who purchased Tress. they had no control over the management, its the Directors who had spend the money and created these products, Directors are the people who appoint remuneration committee and other committees do the Audit and governance, and who are directly responsible to the Liabilities and payments to the tree purchasers. If they were acted under duress they had enough time to report to Authorities about the Share Holders or who ever put them under Duress, but nothing has been reported in that nature too. Any way both the largest share Holders were also in the Board, So in my opinion the Directors are completely Liable for the mis management of the Company and also to the Liabilities of the Company.

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