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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ »  Lalith Kothalawala on ITN ( Ceylinco Group)

Lalith Kothalawala on ITN ( Ceylinco Group)

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NZ BOY

NZ BOY
Moderator
Moderator
https://www.facebook.com/video.php?v=777918928966440

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
Giving his assets back should be seriously considered. He is more competent than those appointed at present to settle the CXeylinco Depositors. Enough evidence to remove Mohan Peiris.

RPPA


Expert
Expert
I am also a former employee of Ceylinco Group. Yes they had more than 20Bn of Assets. That is true.

But have no idea what had happen to them now.

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
ASK MR, GR and BR

Siva08


Manager - Equity Analytics
Manager - Equity Analytics
MR and group is the major culprit. They played the game smartly to wipe of lalith empire. Some may disagree.

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
His empire was brought down for two things.

1. He supported in Ranil Wickramasinghe campaign in 2005 presidential election, apparently the main financier for the campaign.

2. Then looting his massive assets. But unfortunately minority shareholders and depositors lost nearly 20b.

RPPA


Expert
Expert
@hariesha wrote:His empire was brought down for two things.

1. He supported in Ranil Wickramasinghe campaign in 2005 presidential election, apparently the main financier for the campaign.

2. Then looting his massive assets. But unfortunately minority shareholders and depositors lost nearly 20b.

Yes. that was perfectly correct. MR has taken the revenge from L.kothalawala. Those presidential election days in 2005 i was an employee there.

How many employees worked there.And most of them have suffered. Some still suffering.

But mind you LK has done his mistakes too. There were lot of non performing companies there too which were of no use.

Siva08


Manager - Equity Analytics
Manager - Equity Analytics
I don't say LK is 100 percent genuine guy.

IO3+O


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

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
LK may not be 100% genuine but according to what I have heard he had helped a lot of deserving people. His empire employed the most number of people than any other institution including state banks. During MR's first presidential election LK took a full page paper ad backing Ranil. This didn't go down well with MR and also the Sinhala Buddhist as LK's name came up during the death of Rev Soma thero. After winning when people wanted MR to take action against LK I vaguely remember he said he will not do so because a large number of Sri Lankans were employed under him. Bu t I feel later Rajapakse brothers meticulously planned to bring down LK and take over his wealth. The first step towards this was forcing some people to withdraw big deposits where LK couldn't accommodate immediately as the assets were of a long term nature and thereby initiating a run on the finance company. The previous regime was not a least bit bothered about loss of employment of thousands of young people and the wiping out of the life time savings old and sick who received a generous return on their hard earned money to lead a comfortable life. While LK paid highest interest on deposits his liabilities were well covered with long term assets. On the other hand people who started massive pyramid schemes playing out the innocent and gullible investors was well rewarded by the regime.
The present government should explore the possibility of letting LK back and hand back his assets and let him work under the supervision of a government authority to work out a way to settle the long suffering depositors.

Richie


Senior Equity Analytic
Senior Equity Analytic
As f. Far as I knew Lk had a sizeable stake at seylan bank and Anyone knows what happened to that ? Was it used to repay depositors of GK ?

vic19

vic19
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It is quit surprising to hear from Mr Lalith Kothalawala what did actually happened to his empire.

if what he says is right, then Please forum members think what would Rajapaksha family that includes gothabaya ,basil and namal would have done for the assets and lands in the North and east from the Tamil people.

what I mean to highlight is Mr Lalith Kotalawala is a true Singhala Buddist and did many good things for his own people and the coutry by providing jobs and money and properity if this man is treated like this , who had much influence in his own community, where does the innocent poor hard working tamil people and their assets stand from this mass looters??????

lets give a good thought about them and their plight.

then there will be a good realisation of reconciliation among all people and the wrong doers will be properly PUNISHED.

by the way I am a Tamil.

thanks

Dhehan

Dhehan
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
MR always shows baby looking face to media and some innocent people are still get cheated due to this.

MR should go behind bars and personally i will not give any respect to MR

StockGuru

StockGuru
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Richie wrote:As f. Far as I  knew Lk had a sizeable stake at seylan bank and   Anyone knows what happened to that ? Was it used to repay depositors of GK ?

Man go through Seylan history there was a new share issue and capital raising effort in 2009 since Seylan lost money funding Golden Key.LOLC and SLIC, BOC each with State Banks infused 33% of each for new shares.

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