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The adage ‘there is no smoke without fire’ appears to be a perfect fit to Monday’s mega deal of EPF buying an 8% stake in Laugfs Holdings Plc for Rs. 1.6 billion, given its timing and the price paid. The Employees Provident Fund (EPF), which is heading towards a fund base of Rs. 1
The Central Bank last week said that the base of the Employees Provident Fund (EPF) is expected to reach the Rs. 1 trillion milestone later this year. “As at 31 August 2011, the value of total assets of the EPF reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth
Employees Provident Fund has purchased 33 million ordinary voting shares of the Laugfs Gas PLC from Laugfs Holdings Limited. The transaction took place today and a share has been sold at Rs. 48. Consequent to this sale, Laugfs Holdings owned 260,000,000 million shares (260 Mln shares) of Laugfs Gas PLC. However, following the transaction, the share amount held ...
Sri Lanka’s Employees Provident Fund’s asset value is expected to reach the Rs. 1 trillion mark during this year, announced the Central Bank. The Bank says as of 31st of August this year the total assets of the EPF have grown up to Rs 976 billion. According to the Central Bank this is an annual
As at 31 August 2011, the value of total assets of the Employees’ Provident Fund (EPF) reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth, the EPF is expected to reach the total assets value of Rs.1 trillion by end of 2011.
Ceylon Workers’ Congress (CWC) Leader and Livestock Development and Rural Economy Minister Arumugam Thondaman has expressed concerns over the Government’s plan to lease out tea estates under the purview of the Janatha Estate Development Board (JEDB) to the private sector. In a statement he said that estate workers have been left in the lurch without ...
Management inefficiency has led to the Employees Provident Fund (EPF) failing to collect as much as Rs.666 million in terms of contributions and surcharges from employers in 2009,
The UNP says payment of salaries to employees of a state institution has been delayed while benefit payments have been delayed since 2007. UNP parliamentarian Dayasiri Jayasekera has said while salaries of employees at Salu Sala have been delayed, their Employees’ Provident Fund (EPF) and Employees
Corporate institutions can now make Employees’ Provident Fund (EPF) payments in a convenient manner via ‘Paymaster,’ the innovative electronic total payment solution of the Commercial Bank of Ceylon, the Bank rated internationally as Sri Lanka’s best. The formal agreement
Business leader Dhammika Perera sells 51% personal stake in Amaya Leisure to Hayleys Group for Rs. 2.6 b and buys 9% more of the latter for same amount Deputy Chairman’s control in Hayleys tops 40%; Hayleys Group firms pay Rs. 107 per Amaya share after getting independent report valuing share at Rs. 160; to announce ...
By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...
Sri Lanka Insurance Corporation (SLIC) has sold 3.4% stake in DFCC Bank to Employees Provident Fund (EPF) for Rs. 1.2 billion. Of the amount 7.9 million shares were sold Tuesday at Rs. 135 each whilst on Monday 1.24 million shares were sold at the same price. Monday’s sale was the entire
Trade unions affiliated to Samurdhi have warned of trade union action if Economic Development Minister Basil Rajapaksa fails to address the grievances of the Samurdhi employees. They have expressed concern over the job security of Samurdhi employees following the government’s decision to bring the Samurdhi Authority and a few other state institutions under the proposed ...
Public service is poised to get a shot in the arm making it greatly people-friendly soon due to a project initiated by the ICT Agency of Sri Lanka (ICTA) recently. As one of the latest phases of the e-Services initiative ‘the Lanka Gate e-Services Project’ of ICTA, aims at better public service by developing ...
Deputy Chairman Ashok Pathirage is keen to buy more shares of NDB Bank, if available at the right price. On Friday, Ashok, who is the Chairman of Softlogic Holdings, bought 470,000 shares at Rs. 135 each in a deal worth Rs. 63.4 million. This was after he picked up one million shares at the same ...
The UNP affiliated Jathika Sevaka Sangamaya (JSS) has accused the Transport Ministry of trying to use billions of rupees of the SLTB employees’ EPF and ETF funds to purchase new buses. The JSS says the Ministry is trying to spend Rs 1.9 billion from EPF and ETF funds to purchase 500 new buses. Head of ...
Aug 20, Colombo: The trade union affiliated to main opposition United National Party (UNP), the Jathika Sevaka Sangamaya (JSS) has accused the Transport Ministry of trying to use billions of rupees of the Sri Lanka Transport Board employees' EPF and ETF funds to purchase new buses.
Biggest fund EPF continued its aggressive buying into Vallibel One Ltd., yesterday as well. Around 8 million shares of VOL traded between a high of Rs. 30.20 and a low of Rs. 29.30 before closing at Rs. 29.60, down by 20 cents.
The biggest fund, the EPF, is estimated to have bought around 10 million shares of diversified Vallibel One Ltd. (VOL) yesterday for Rs. 300 million from high net worth investors. Slightly over 15 million shares of VOL traded yesterday for Rs. 451 million. Of the quantity, nearly 10 million shares
Aug 11, Colombo: The Employee's Provident Fund (EPF) of Sri Lanka has come to an agreement with the Commercial Bank to speed up the fund's services.
June 08, Colombo: Sri Lanka Opposition and main opposition United National Party (UNP) Leader Ranil ..
June 08, Colombo: Sri Lanka Opposition Leader Ranil Wickremasinghe has said the government was trying to legalize pilfering monies from the EPF and ETF accounts.
Video: Govt using EPF, ETF money to pay off debt - Ranil
UNP Leader Ranil Wickremasinghe today alleged that government is using the EPF and ETF funds to pay off government debt. He added that the government has shamelessly robbed the people of their hard earned money. .
The government has decided to amend the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) Acts. Treasury Secretary Dr. P.B. Jayasundera has said the EPF and ETF Acts would be amended to make provision for the proposed pension scheme for the private sector. The Finance Ministry
May 28, Colombo: Amidst concerns raised by trade unions in Sri Lanka, the government has decided to amend the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF) Acts.
Finance Secretary Dr. P.B. Jayasundera has emphasized that under the proposed pension scheme for the private sector, pensions will be granted in addition to the Employees Provident Fund and the Employees Trust Fund. Dr. Jayasundera said a Pensions Fund would exist, in addition to the Employees Provident Fund, the Employees Trust Fund and the Gratuity. ...
The Government is under strong criticism instead of praise due to the baseless and false campaign mooted by the opposition with regard to the proposed pension scheme. This was stated by Minister Basil Rajapaksa. The Minister pointed out that the private sector employees will not lose their Employees Provident Fund, Employees Trust Fund and even ...
deductions for EPF will be continuously credited to ...