Do we need the SEC ?

Those days when softlogic was IPO was in the market many discussions were their and same issue came about private placement. So some pepole agreed and did not brought and some went against it.

In few days back i saw same discussion about next IPO ..CIFL. Clearly many members say it was junk. surely i am not going behind this IPO. But some how i know our investors will run to buy and will oversubscribe with in one day.

[quote="Tiger"]

Surangaby wrote:

swan03 wrote:Never go after IPOs for sometime. [/quote

I agree!! As for my knowledge We all are (@ equity forum) goes to small to mid Investor category, We are the ones who suffers from thing like this. CSE & SEC should make plans to protect this part of investors (As the "Engine" of CSE) as they try to protect the Big Guns. This huge dip of CSE is also due to lacking faith with SEC & CSE. Most of the people who's invested @ CSE 1) has got stuck higher valued IPO's & secondary market. 2)Sold them with a loss. 3) Leave CSE never to come back (even they discourage othrs to not to invst @ CSE.
If this happens for a long period of time Only big guns will remain @ CSE and it will destroy CSE more than war era destroyed CSE.
My Suggestion is can't we form some kind of a Club Or Union Etc., for small to mid investors @ CSE... And make a voice to those companies which over values their shares ( Even to boycott buying them @ Primary & secondary market ) And to even SEC & CSE.
Need Your Comments ......

Wall street investors has done in 1929.
Bangladesh investors has done in 2010.
Sri Lankan investors in 2011- its funny history repeats itself over and over again.

Yep! It's funny alright!! But We need to do something for the people who went blind behind some overvalued junks and now crying! I'm not in that crying side! But I feel like to do something to protect small to mid investors, That will protect all Investors including the big guns too ( in the long run)!!

ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

kkahapola wrote:ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

Look, This valuable forum could prevent you from a bad investment decision. And myself too.We must thank the Admin for this.

kkahapola wrote:ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

Me too! Normally I look for 4 things in a IPO.
1) Why do they go for an IPO? ( Why do they need public money?)
2) Calculate the value of a share by myself. (Make a rough idea of value of that company's by Rupees,check the percentage of shares issue and divide the same percentage of the value of the company. (hope U got it) Then U could get a rough idea of the price. (remember .. U have to be Ur own researcher , annalist, auditor & Invest Adviser for a certain level)
3) Private Placements? ( Price, Percentage of shares, To Whom)
4) Interest of the public.

It's Ur money gusz.. so be sharp

kam2011 wrote:

kkahapola wrote:ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

Look, This valuable forum could prevent you from a bad investment decision. And myself too.We must thank the Admin for this.

True! But don't be too cheers about it pal.. Sometimes carpet roads could lead you to a disaster
Be sharp!

Thanks in advance Surangaby. I put you +rep for your valuable idea in this.

Some of the experts here are thinking that free market forces can do every thing better.

But CSE needs a proper monitoring system soon, because some of investors start to get off from market.

USA has a great regulating system to its capital market. Even though their religion is capitalism still they follow the government interference.

Our CSE is more than 100 times smaller than USA capital market. So we need to protect it.

If ASI comes down to 6000 the declining rate will be doubled. This will not a magic if current pattern is continuing. Then all shouting capitalists will shout to have regulations.

Surangaby wrote:

kkahapola wrote:ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

Me too! Normally I look for 4 things in a IPO.
1) Why do they go for an IPO? ( Why do they need public money?)
2) Calculate the value of a share by myself. (Make a rough idea of value of that company's by Rupees,check the percentage of shares issue and divide the same percentage of the value of the company. (hope U got it) Then U could get a rough idea of the price. (remember .. U have to be Ur own researcher , annalist, auditor & Invest Adviser for a certain level)
3) Private Placements? ( Price, Percentage of shares, To Whom)
4) Interest of the public.

It's Ur money gusz.. so be sharp

Tiger wrote:

All what you can do is rather than blaming SEC, press them to regulate investment advisory services; things like education requirements, adequacy or research, conflicts of interest etc... that will safe guard investors.

the question is whether these SEC officials are capable to educate. See our SEC Chairperson profile, Does she has any qualification or prior experience related to capital & equity mkt. ( I try to get Malik Cader profile could not get). This is our SEC.

Mrs. Indrani Sugathadasa
(Chairperson)
Mrs. Indrani Sugathadasa has been a
very senior public servant who joined
the Sri Lanka administrative service
(SLAS) in 1977. After retirement, she was
appointed Chairperson of the Securities
and Exchange Commission of Sri Lanka in
May 2010. She is holding the position of
Chairperson of the Insurance Board of Sri
Lanka (IBSL) as well.
The last position she held in the
mainstream public service was that
of Secretary, Ministry of Plantation
Industries. Prior to that she had served
in the Ministries of Women’s Affairs and
Child Development, Plan Implementation
and the National Youth Services Council
(NYSC) in different capacities.
Mrs. Sugathadasa holds a Bachelor
of Social Sciences degree from the
University of Colombo and obtained
Masters degree (MPA/MBA) from Monash
University, Melbourne, Australia, on an
Australian Government Scholarship. She
also has been awarded the prestigious
Hubert H. Humphrey Fellowship (Fulbright)
by the United States Government in 1990
and was attached to Hunter College, City
University of New York during the oneyear
Fellowship period.
In addition, Mrs. Sugathadasa has
participated extensively in various
training programmes and consultancies
in Management and gender related
disciplines, both locally and internationally.

ok Cader has 13 years experience in the Equity and Capital Mkt, But his education career is unrelated.


Mr. Cader has served the Securities and Exchange Commission for over 13 years and before his promotion he was the Officer-in-Charge and Deputy Director General of the Securities and Exchange Commission.

He had also held the posts of Director Legal and Enforcement, Director External Relations and Market Development and Senior Manager, Training and Market Development of SEC.

Mr. Cader is an Attorney-at-Law with over 20 years at the Bar and is a Solicitor of the United Kingdom.

Mr. Cader has also served as the Director Public Relations & Market Development of the Insurance Board of Sri Lanka from March 2001 to September 2005 when the SEC Secretariat was designated as the Secretariat of the Insurance Board of Sri Lanka.

http://www.priu.gov.lk/news_update/Current_Affairs/ca201011/20101102malik_cader_appointed_dg_sec.htm

kam2011 wrote:

kkahapola wrote:ACTUALLY I WAS NAROWLY ESCAPED FROM APPLYING TO SOFTLOGIC IPO.
LAST MINUTE I SAW THIS PP STORY ON A FORUM LIKE THIS.IF I HAD NOT SEEN THAT I COULD HAVE APPLIED FOR SOME QUANTITY.

Look, This valuable forum could prevent you from a bad investment decision. And myself too.We must thank the Admin for this.

This is very much true... We have to thank this forum.. first it free and we learn lot from this forum. I also did not went for softlogic IPO due to this forum many experts told about the highly price and private placement and same way careful about the next CIFL IPO also. Thanks Admin once again ..

Friends we have talked much on this but non of us dont knw what is the mission of SEC

The main objective of the Surveillance department and its functions are to monitor the trading activity of the Colombo Stock Exchange on a daily real time basis and detect any violation of the Securities and Exchange Commission Act in terms of price manipulations which interferes with the free price discovery mechanism, insider/related party trading, front running, unethical conduct by brokers etc.


They failed what they planed ....

I have to say only one thing

They have forget what they should do .... Bcz its Nature of ********** organization (I didnt mention the word but nos of * will give you the hint)

there is a reason why she is in that post..

Hi All...

First of all I thanks this forum. I also learn from that forum & I thought is better to avoid buying Softlojic IPO Thats why I thanks this forum ... I am maintain Three accounts under Three brokers. They also push me to apply Softlogic IPO in Higher volume ...

According to my knowledge its not worth for that Initial price. My ultimate question is why SEC is approved for an IPO under that Price ...

That why we are think deeply is it necessary to continuous SEC further. Please Advice ? I invite you admin put your Ideas about SEC...?\

All the Very best...

sanjeewa88 wrote:Thanks in advance Surangaby. I put you +rep for your valuable idea in this.

Some of the experts here are thinking that free market forces can do every thing better.

But CSE needs a proper monitoring system soon, because some of investors start to get off from market.

USA has a great regulating system to its capital market. Even though their religion is capitalism still they follow the government interference.

Our CSE is more than 100 times smaller than USA capital market. So we need to protect it.

If ASI comes down to 6000 the declining rate will be doubled. This will not a magic if current pattern is continuing. Then all shouting capitalists will shout to have regulations.

Thanks sanjeewa88! Yes! I agree with you. We need to protect our "Stock Market"(as commonly known).

UKboy wrote:

Maximin wrote:

kkahapola wrote: SEC ALLOW SOFTLOGIC TO PRICED AT 29 WHEN ACTUAL VALUE IS 7.20.NOW THE STOCK MKT INVESTORS ARE SUFFERING.............FEW COMPANIES ARE GAINING HUGE AMOUNT AND MAJORITY INVESTORS ARE SUFFERING..THIS IS TRUE FOR THE OTHER IPOS.
DOES CSE WANT TO PROTECT FEW COMPANIES THAN STOCK MKT..& ITS INVESTORS.

Did SEC forced to submit for Softlogic?
Everyone knew that it's worth 7.20 when it priced for 29 for retailers through IPO.
I didn't buy Softlogic, And I think most of them did not buy it.

We should think twice before buying shares, specially in IPOs.

Agreed Maxmin.

Let me recall Tubal's signature.

There isn't a law that says you need to buy into an IPO/Introduction on the first day.
The law doesn't say you have to subscribe to each and every IPO.
The law enforcement authorities can't protect you against your own stupidity

Well said UKboy! Yes! No one forces us to put money for IPO's. As I said earlier you have to be ur own Financial & Investment adviser for certain level.
Always follow the "MIDDLE PATH".
Don't be too hungry for money, it will lead you to a starvation!!
Be Sharp!!

seyon wrote:

Tiger wrote:

All what you can do is rather than blaming SEC, press them to regulate investment advisory services; things like education requirements, adequacy or research, conflicts of interest etc... that will safe guard investors.

the question is whether these SEC officials are capable to educate. See our SEC Chairperson profile, Does she has any qualification or prior experience related to capital & equity mkt. ( I try to get Malik Cader profile could not get). This is our SEC.

Mrs. Indrani Sugathadasa
(Chairperson)
Mrs. Indrani Sugathadasa has been a
very senior public servant who joined
the Sri Lanka administrative service
(SLAS) in 1977. After retirement, she was
appointed Chairperson of the Securities
and Exchange Commission of Sri Lanka in
May 2010. She is holding the position of
Chairperson of the Insurance Board of Sri
Lanka (IBSL) as well.
The last position she held in the
mainstream public service was that
of Secretary, Ministry of Plantation
Industries. Prior to that she had served
in the Ministries of Women’s Affairs and
Child Development, Plan Implementation
and the National Youth Services Council
(NYSC) in different capacities.
Mrs. Sugathadasa holds a Bachelor
of Social Sciences degree from the
University of Colombo and obtained
Masters degree (MPA/MBA) from Monash
University, Melbourne, Australia, on an
Australian Government Scholarship. She
also has been awarded the prestigious
Hubert H. Humphrey Fellowship (Fulbright)
by the United States Government in 1990
and was attached to Hunter College, City
University of New York during the oneyear
Fellowship period.
In addition, Mrs. Sugathadasa has
participated extensively in various
training programmes and consultancies
in Management and gender related
disciplines, both locally and internationally.

Hey Seyon, What about Prof.Harendra Dissabandara? I've seen him speaking. Seems like he has a good vision & aim. He's trying to prevent CSE by falling to a Gambling Market. He has taken steps to track down Gamblers (Manipulators) in CSE. Somehow if he stays for some time, I believe it will be good for SEC,CSE & for genuine investors.

That is the case ,The SLAS are close to politicians and get in to all the important positions in the country.They know nothing about the industry but they take all the decisions.In this case she is only a social science arts graduate who has spent all career in some lethargic government institutions.
There are few exceptional cases in SLAS like sarath amunugama , but very rare.

the safety of our life savings depend on these peoples decisions.