Quibit wrote:Quibit wrote:Wonder whether this entire LOLC deal is to manipulate the market by some insiders connected with the majority shareholders., LOLC officially said that money is not coming to sri lanka? Where is it going! Will LOLC shareholders ever benefit from this deal? LOLC has never paid a dividend to its shares holders in the past!!
Ishara Nanyakkara will be the richest guy on books but he has not brought his wealth to Sri Lanka. Shareholders only change hand shares and insiders traders and from runners will immensely benefit from this at the expense of small shareholders which we need to protect in this forum.
SEC should investigate all transactions of LOLC.
Profit should be retained with LOLC in Sri Lanka and distributed to shareholders as dividends.
What are the regulations governing the foreign investment by Sri Lankan companies and repatriation of profits?
How can money come to Sri Lanka when PRASAC is held by LOLC singapore ? But ofcourse all the Profits are owned by LOLC - SL as its 100% owned. If LOLC Si lanka need cash, they have to ask LOLC singapore to declare dividends..
In anycase its only a "Where is cash" story. Result is same...