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කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_lcap16%කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_rcap 16% [ 43 ]
කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_lcap21%කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_rcap 21% [ 57 ]
කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_lcap30%කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_rcap 30% [ 83 ]
කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_lcap34%කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Vote_rcap 34% [ 93 ]

Total Votes : 276

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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම

කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම

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DeepFreakingValue

DeepFreakingValue
Senior Equity Analytic
Senior Equity Analytic


කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම 14986710

Dear Hon. Minister of Finance,
has been known for many financial frauds at CSE and does not comply with the SEC Act. At a stage where the market is having a pull back, he is instructing FORCE SELLING to Margin Providers and threatening them or pay him 2% from each margin portfolio. He is also known for defrauding a  Wijesinghe for Rs 300mn.
Most recently, he visited London with Viraj Dayaratne SEC Chairman and is alleged to have used CSE money to the tune of over Rs. 40mn for a single trip claiming to be ‘marketing expenses’. Letter of demand has been sent. IMF IS WATCHING!

හිතවත් ගරු.  මුදල් ඇමති,
Asia Securities සභාපති - CSE හි බොහෝ මූල්‍ය වංචා සම්බන්ධයෙන් ප්‍රසිද්ධියක් උසුලන අතර SEC පනතට අනුකූල නොවේ.  මාර්කට් එක ආපස්සට ඇදෙමින් පවතින අවස්ථාවක, ඔහු ආන්තික සැපයුම්කරුවන්ට බලහත්කාරයෙන් විකිණීමට උපදෙස් දී ඔවුන්ට තර්ජනය කරයි, නැතහොත් සෑම ආන්තික කළඹකින්ම ඔහුට 2% බැගින් ගෙවයි.  ඔහු කොටස් හිමියෙකු වන ඩිලේෂ් විජේසිංහ මහතා රුපියල් මිලියන 300 කට වංචා කිරීම සම්බන්ධයෙන් ද ප්‍රසිද්ධය.
ඉතා මෑතක දී ඔහු විරාජ් දයාරත්න සුරැකුම්පත් හා විනිමය කොමිෂන් සභාවේ සභාපතිවරයා සමඟ ලන්ඩනයට ගිය අතර CSE මුදල් රුපියල් කෝටියකට අධික මුදලක් පරිහරණය කළ බවට චෝදනා එල්ල වේ.  'අලෙවිකරණ වියදම්' යැයි කියා එක් සංචාරයක් සඳහා මිලියන 40ක්.  ඉල්ලීම් ලිපියක් යවා ඇත.  IMF බලා සිටී!

පෙත්සමට අත්සන් කරන්න පහත ලින්ක් එකට යන්න
https://www.change.org/p/dear-finance-minister?recruiter=954528436&utm_source=share_petition&utm_campaign=psf_combo_share_initial&utm_medium=whatsapp&utm_content=washarecopy_33025573_en-GB%3A4&recruited_by_id=a2315100-6701-11e9-9975-2b721b680fd6

ChooBoy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Screen27

I have met him many time since he was a keyboard warrior at JP Morgan Singapore. He first played out the broker who negotiated the Asia Securities stake for him, then he played out his own felllow director Dilesh Wijesinghe who owns shares in Asia Holdings without paying him.

Dumith also suspended Nation Lanka stokbrokering license so that he could become the Chairman of CSE before Asanga Seneviratne. Asanga is one of the most senior stockbrokers in Sri Lanka who has shown his ability to attract foreign investment into Sri Lanka by brining in some of the top fund managers and investors to Sri Lanka. Dumith Fernando has not contributed anything for the development of the market, instead he has been acting in his personal interest. Longer he is going to stay as the Chairman, he is going to create more damage to the stock market of Sri Lanka.

He also uses his board position to prevent any other stock brokering companies from getting foreign clients at various forums by depriving access to them. He is known to act in total conflict of interest to his position as the Chairman of CSE.

Invest Sri Lanka 2021 Forum was a classic example in which he did not allow any other stock brokering companies to present business proposals to foreign clients.

කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Screen37

Have a look at the Project list presented at Invest Sri Lanka 2022. Its only him and his proposals except GOSL projects. Why is he not allowing others a fair opportunity to develop capital markets in Sri Lanka.

https://invest-srilanka.lk/ParticipantPortal/Project

ddindika

ddindika
Manager - Equity Analytics
Manager - Equity Analytics

SEC should start investigating on West Side Equity Limited Hong Kong, JLN Investments (pvt) Ltd, York Street Partners, the entities directly and indirectly used by the #CSE Chairman Dumith Fernando to enrich himself at the expense of innocent investors.

මුත් අපේ ලොකු සර් වගේ තමා. අස්වෙන පාටක් නම් නැහැ. WTC එක ගාව උත්ගොෂණයක් කරන්න වෙයිද මන්දා?

ddindika

ddindika
Manager - Equity Analytics
Manager - Equity Analytics

Asia Securities reiterates view of no sovereign default; swap conclusion a confidence booster

කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Dumith-Fernando-CSE-17.09.2020

In a report issued today, the research arm of leading independent Investment Banking firm Asia Securities, reiterated that it does not see a risk of sovereign default at this point. The eagerly anticipated announcement of the USD 1.5bn currency swap agreement with China this week is expected to provide a significant boost to local and foreign investor sentiment. Following the news, yields on the short-end of the International Sovereign Bond (ISB) curve plunged in response (implying a rise in bond prices) indicating greater confidence of the international market in the Government of Sri Lanka’s ability to honor its debt obligations. The USD 1.5bn swap is a much-needed boost for the reserves position which stood at USD 4.6bn by end February.

The report further forecasts that, in 2021, estimated capital account inflows (not including any potential investments into Port City) should exceed outflows in the capital account. The yield on the government sovereign bond maturing in July this year dropped by over 20 percentage points, in secondary trading, to 14.56% on the 11th of March. Asia Securities Research further stated that the announced finalization of this swap agreement opens up the possibility of further bilateral financing arrangements that could be successfully negotiated by the government in 2Q 2021 onwards.

Reflecting on the report, Chairman of Asia Securities, Dumith Fernando stated that “Against the backdrop of COVID-19 recovery, we see bilateral and multilateral financing to be more practical near-term substitutes to an IMF lending program. Contrary to widely expressed opinions by international firms, in my view, a conditional IMF program may not provide the counter-cyclical growth runway that Sri Lanka needs right now.” He further stated that “As fiscal space remains constrained to practically meet performance target of an IMF agreement, inflows through a customized approach would be more suited for Sri Lanka in turn enabling a more deliberate growth agenda. An IMF program coupled with further structural reform would be more viable at a future time once the entire world has moved beyond some of its near-term headwinds.”

Asia Securities is a leading investment firm in Sri Lanka providing Investment Banking, Research, Equities and Wealth Management services to local and international corporate, institutional and individual clients.

http://bizenglish.adaderana.lk/asia-securities-reiterates-view-of-no-sovereign-default-swap-conclusion-a-confidence-booster/

ChooBoy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Circular saga at CSE.

By Madhusha Thavapalakumar | This article originally appeared in The Sunday Morning newspaper

The Securities Exchange Commission of Sri Lanka (SEC) had asked the Colombo Stock Exchange (CSE) neither to name the shares in its widely speculated February “circular” nor to send the request for information in the form of a circular or a direction, The Sunday Morning Business learns.

On 1 February, issuing a “circular”, the CSE requested stockbroker firms to submit information pertaining to credit extended by stockbroker firms to a list of six company shares, and the CSE had named the shares in the same circular which appeared to have created a misperception over those stocks amongst potential investors.

Speaking to The Sunday Morning Business, SEC Chairman Viraj Dayaratne PC noted that the SEC called for necessary information through the CSE as onsite supervision has been disrupted by the prevailing pandemic.

Dayaratne added that the SEC calls for reports on a monthly basis on various activities of stockbrokers and stock dealers.

“As far as stockbrokers are concerned, we wanted the CSE to call for certain reports in the sense that the information we get on a monthly basis, we asked to submit on a weekly basis and some additional information on a monthly basis, and we wanted the CSE to inform the brokers accordingly – not (via) a circular and not a direction – the information we generally collect as part of our supervision. We wanted the CSE to inform the brokers. That is a letter we sent to the CSE, asking them to inform the brokers – not (via) a direction or a circular, just a letter,” Dayaratne noted.

He added that the CSE, in turn, had communicated that to the brokers and the brokers had termed this request as a circular in which the CSE had called for information in addition to what the SEC wanted while naming certain stocks.

“They have mentioned them by name and called for some additional information. That was not part of what we required. That is some additional information the CSE had wanted and that is what they have communicated to the brokers. This has nothing to do with the SEC,” Dayaratne added.

Meanwhile, CSE Chairman Dumith Fernando told us that the “circular” was issued as part of CSE’s responsibility to maintain the market and financial stability.

“Therefore, CSE, like any regulator, wanted to understand what sort of broker credit exposure there is in the market. We asked the brokers to present the highest concentration in their portfolio. There was misperception in the market that this was part of the market volatility,” Fernando added.

When mentioned that the SEC did not name the stocks when directing the CSE to request information from stockbrokers, Fernando stated: “We just do not do only what the SEC asks us to do. CSE was looking at ways to measure some of those exposures, which is why the Monday circular presented a different way to do it, so there was no misperception that we were not targeting any stocks. We clarified our intention. Stock exchange is maintaining the sustainability of the market for the long term.”

A circular issued on 1 February requested information on credit extended by stockbroker firms. The information required by the CSE included debtors’ and creditors’ age analyses for specified categories, the computation of excess of cost-over-market value for unsettled purchase transaction on an individual client basis, overdraft position of each client fund and firm fund bank account maintained by the stockbroker firm, and confirmation of liquid assets less obligations as at the end of each week, commencing from the week ended 22 January 2021.

In addition to this, stockbroker firms were also asked to forward the reports and analyses of Browns Investments PLC, LOLC Holdings PLC, Expolanka Holdings PLC, Industrial Asphalts (Ceylon) PLC, Sierra Cables PLC, BPPL Holdings PLC, and Piramal Glass Ceylon PLC.

Meanwhile, in a statement issued on Wednesday (3), the CSE noted that the circular it issued on 1 February regarding information pertaining to credit extended by stockbroker firms has not in any way placed restrictions on the ability of stockbroker firms to extend credit on any particular security. The statement further noted that the CSE does not have any limitations of any kind on the tradability of any security by any investor.

The statement further noted that the request for information was done routinely to enable the SEC and the CSE to better understand the nature of such credit extended, purely for purposes of analysing and assessing systemic risks in fulfilling its functions to maintain the stability of the market and for the protection of investors, and not to single out any specific entity or investor.

The CSE further added that it welcomes the recent heightened activity levels of the stock market and is acutely aware of its responsibilities in supporting the medium and long-term sustainability of all market participants.

https://madhushanews.wixsite.com/marketmine/post/circular-saga-at-cse

DeepFreakingValue

DeepFreakingValue
Senior Equity Analytic
Senior Equity Analytic

Asia Securities Direct FN Down after Dumith Fernando and Expolanka Kassim's backed York Street Partners bought the Stock Brokerage.

The Former Credit Suisse Asia Pacific Managing Director and Chief Operating Officer Dumith Fernando recently bought 75% stake in Asia Securities along with three others, with Expolanka lead York Street Partners who will hold an 11% stake along with two others individual investors.

The deal is now happened and ever since then investors of Asia Securities cannot trade via Diect FN since last Friday.

It is anticipated that just like how some failed Deal Maker made a 'Deal' selling J.L. Morisons group to Hemas group whilst just few days after Morisions lost 13% revenue earning agency the deal maker was later left unpaid his deal making fee.

Similarly...it is is discussed among market sources the same famed 'Deal Maker' who generally market a deal before to news makers in Sri Lanka before his deal happens (whilst some news makers in the Sri Lannka still things he is a market expert) is supposed to join Dumith Fernando's new board at Asia Securities...the lack of technocrats to handle tech in Asia Securities will have issues in coming days.

Poor investors will now find it difficult to trade via Asia Securities for several days being unable to loging to their trading accounts as a result of Dumith Fernando's purchase.

https://www.srilankachronicle.com/t38548-asia-securities-direct-fn-down-after-dumith-fernando-and-expolanka-kassim-s-backed-york-street-partners-bought-the-stock-brokerage

God Father


Manager - Equity Analytics
Manager - Equity Analytics


According to Insiders The former Credit Suisse Asia Pacific Managing Director and Chief Operating Officer Dumith Fernando-led consortium who bought Asia Securities recently has asked all mid scale and small scale portfolios to be sold even at losses highlighting that they can buy those stocks at a discount.

However all the stock brokers at Asia Securities has been advised to do so without even customers' consent and as a result lots of Asia Securities Customers will be out in Securities and Exchange Commission tomorrow morning to complain and ringing the Stock Market Regulator take action action for malpractice committed by Dumith Fernando led Asia Securities.

https://www.srilankachronicle.com/t39220-who-sold-largely-dumith-fernando-led-asia-securities-sold-small-portfolios-without-even-customer-consent-today-and-fridaycustomers-to-complain-to-sec

ddindika

ddindika
Manager - Equity Analytics
Manager - Equity Analytics

''කොටස් වෙළෙදපොළ වසා තබන දින ගණන දික් කරනනේ නෑ' තාවකාලික වෙළෙදපොළ වැසීම ගැන දිවයින පුවත්පතේ පලවු ලිපිය." #CSE #stockmarket #investment #lka

කාවද ඔය ඔබ රවට්ටන්න හදන්නේ සභාපති තුමනි!!!!

කොළඹ කොටස් වෙළඳපොලේ සභාපති ඉවත් කිරීමේ පෙත්සම Fqxdzt10

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics

God Father


Manager - Equity Analytics
Manager - Equity Analytics

With this silly and irresponsible response of the CSE Chairman Dumith Fernando, Colombo Stock Exchange (CSE) has becomes the laughing stock market for the foreign investors and journalists. Its funny to say that by closing the market CSE is allowing free market forces to operate. Be realistic man!!! Its time you resign without causing further damage to the overall market without blatantly lying to the international community.

TAIL EVENT
Tail Event to end this week and market to start next week normal! You are lying to international community including IMF, ADB and other donor agencies!! Your comments will be so damaging to the country which is currently facing its worst economic crisis.

what tail are you talking about? Tail only started to wag only last week and now you are calling it tail event will end in 5 market days!   HIKZZZZ!!!! Are you a fortune teller or a henchman!

Whose Tail are you holding Mr Dumith Fernando.  All investors will have their tails between their legs next week when market opens. Dumith please resign gracefully!

Sstar wrote:

ChooBoy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

හා හා! දැන් තමා ඩුමිතෝ ඔයාගේ ටිකිරි English මොලේ තේරුනේ! Dividend Repatriate කරන්න, Foreign sale වලට සල්ලි ගෙවන්න , ඩොරල් නැති නිසා නේද ඔයා stock Market එක දවස් 5ක් වහලා තියන්නේ! IMF සල්ලි ආවට පස්සේ අරින්න හොඳේ! එතකොට අර කියපු Tail (නැට්ට) ඉවර වෙලා තියේවි නේද? අපරාදේ අපිටත් තේරෙන්න සිංහලෙන් කියන්න තිබ්බනේ! අවුරුදු 2ක් කෙබර ගැවද. ඔයාගේ ජොබ් එක ලංකාවට ඩොරල් FDI ගේන එකද නැත්තම්, Asia Securities profit තර කර ගන්න ඒකද? අනේ ප්ලීස් කියන්නකෝ! තව අවුරුද්දක් CSE එකේ පිස්සු කෙලින්නේ නැතුව දැන්වත් පවු නොදී ගෙදර යන්න. #dumithGoHome

Sstar wrote:

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