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Will MELSTACOP gets long overdue money from SLIC

3 posters

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soileconomy

soileconomy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

As Sri Lanka Insurance is on a definite privatization move with hefty capital gains to government will they settle long overdue money to Harry Jayawardena controlled MELS
As per supreme court judgment given the secretary to the treasury has to determine the profits earned during the period which SLIC was under HJ's helm and given back to HJ Controlled DIST(then holding company)
It should be from 2003 to 2009 which retained profits should be calculated and return to HJ controlled entity

Antonym and God Father like this post

Rich Guy

Rich Guy
Equity Analytic
Equity Analytic

decade-old dues, MELS would impair these. if govt want to pay they could have done it a long ago.  Will MELSTACOP gets long overdue money from SLIC 1f610

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

MELS will get SLIC equity upon privatization. MELS is one of the likely bidders for SLIC.

soileconomy likes this post

soileconomy

soileconomy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Do not remember the fact HJ only brought SLIC Investment portfolio upto unprecedent level and made SLIC one of the best investment arm of CSE.
Anyway HJ entity is legally and ethically entitled to retained earnings of SLIC as per supreme court judgment .
MELS May be a forefront bidders for both SLIC and LHCL

BOTH SLIC AND LHCL WERE PREVIOUSLY OWNED BY HJ GROUP



Last edited by soileconomy on Thu Mar 30, 2023 1:59 pm; edited 1 time in total (Reason for editing : .ADDED)

glad and God Father like this post

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