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But Market’s Illiquid Status Of Such, Drawback In a depressed market, such as that which is facing the Colombo bourse today, the time however is ripe for investors to buy good stocks at bargain prices an economist said. Amal Sanderatne, Director, Frontier Research (Pvt.) Ltd., addressing a seminar on the economy with a focus on ...
Subsidiary LOLC Investments signs deal with Ajith Devasurendra to buy balance 50% stake in Diriya Investments, the ultimate holding company of diversified blue chipLanka Orix Leasing Company Plc (LOLC) yesterday announced moves to get control of diversified blue chip Brown and Company Plc for Rs. 1.32 billion. LOLC’s fully-owned subsidiary LOLC Investments Ltd. has signed ...
Economic think tank andndash; Pathfinder Foundation in its latestandnbsp; Economic Flash has pointed out that independence of Employment Provident Fund (EPF) should be ensured when andnbsp;investing in the Colombo Stock Exchange (CSE) adding that necessary safeguards should be in place to protect
Authorities must address criticisms over the adequacy of safeguards when investing in the Colombo Stock Exchange through the Employees’ Provident Fund (EPF) and make the entire process more transparent, according to a statement by a local think tank
Considerable controversy has arisen regarding Employment Provident Fund (EPF) investment in the Colombo Stock Exchange (CSE). There have even been calls to stop all such investments. It is important, however, to remember that there are positive arguments in favour of such investments
Last week in Parliament, Opposition Leader Ranil Wickremesinghe singled out Daily FT in his usual criticism on newspapers. Among various allegations made by Wickremesinghe was that the FT is one of the papers which is in the pay of the so-called “stock market mafia” and the Central Bank. Wickremesinghe also alleged that FT was one ...
"We expect all reports must be true and accurate. Today I found in the FT that what I said (yesterday) is reported in three sentences (reference to 5 July Daily FT’s Page 1 story titled ‘Ranil calls for suspension of EPF investments’). I want to bring this to your (House
Opposition Leader Ranil Wickremasinghe has called for the suspension of all EPF investments in the Colombo Stock Exchange until a Parliamentary Select Committee is set up and investigation is completed on alleged fraudulent transactions. The latest stand is after Wickremasinghe made a scathing
By R.M.B. Senanayyake Dr. Harsha de Silva has good grounds perhaps for his criticisms of the EPF investments in the stock market, but his criticisms are having a destabilising effect on the stock market, which was stabilising after a long decline. There are some facts about investment in the stock
Financial accountability is accompanied by a question mark in Sri Lanka. A host of challenges from the Golden Key scandal to improper auditing of State assets, including the transparent management of Employees Provident Fund (EPF), have regularly hit headlines for years. In addition
It is with great pleasure and keen interest that I associate myself with a wide range of distinguished stake holders in the inauguration of this workshop under the patronage of Institute of Policy Studies of Sri Lanka (IPS), World Bank and Department of National Planning. It is expected through this consultation process to provide a ...
Sri Lanka’s Main Opposition, United National Party (UNP) yesterday claimed that the state-controlled pension fund Employees’ Provident Fund’s (EPF) share portfolio at the Colombo Stock Exchange (CSE) has made losses to the tune of a staggering Rs.12.2 billion.
UNP MP Dr. Harsha De Silva in a statement said yesterday that notwithstanding the almost daily statements by the Employees Provident Fund (EPF) defending its investments in the Colombo Stock Exchange (CSE), violating its own published Investment Guidelines it has now been revealed that the EPF
Jun 28, Colombo: Sri Lanka's main opposition United National Party (UNP) says that the private sector pension fund, the Employees' Provident Fund (EPF) has lost over Rs. 12 billion in its investments in the Colombo Stock Exchange.
Extending the debate on the controversial Standard and Poor’s report, UNP MP Dr. Harsha de Silva yesterday pledged to continue demanding transparency on Employment Provident Fund (EPF) transactions. He pointed out that in the subsequent clarification Standard and Poor’
The Employees Trust Fund donated Rs. 75 million as a scholarship grant to nearly 5000 students who excelled in 2011 Grade Five scholarship examination, at Temple Trees on Wednesday. The EPF Board Chairman K.M.A. Godawaththa presented the cheque to President Mahinda Rajapaksa in the presence
The Employees Trust Fund has donated 75 million rupees as a scholarship grant for students who had excelled in the 2011 Grade Five scholarship examination. A sum of 15,000 rupees will be awarded every year for 5000 students who excel in the Grade Five Scholarship Examination. A cheque for 75 million rupees required to award ...
Jun 27, Colombo: Sri Lanka's private sector retirement instrument, the Employees' Provident Fund (EPF) has welcomed the clarification made by Standard and Poor's (S&P) today that there was no information of any specific incidences occurring of a potential conflict of interest due to the Central
The Employees’ Provident Fund (EPF) yesterday welcomed the clarification made by Standard and Poor’s (S&P) that there was “no information of any specific incidences occurring” of “a potential conflict of interest” due to the Central Bank’s oversight
Perhaps to calm a boiling banking industry over its assessment or in an apparent move to give greater clarity to its rational Standard and Poor’s has addressed some contentious issues to provide better read though Central Bank and Sri Lanka Bank Association have refuted the original report. In a Credit Frequently Asked Questions (FAQ) titled ...
Standard & Poor’s Ratings Services recently assigned Sri Lanka to its Banking Industry Country Risk Assessment (BICRA) group ‘8’. That was S&P’s first assessment of Sri Lanka’s banking industry under its BICRA methodology. This article addresses questions investors and market participants may have about S&P’s rationale for assigning Sri Lanka t...
Hambantota is claimed to be an ‘emerging hub’ of various sorts – shipping, aviation, tourism, industrialisation, cultural and international sports of various kinds. An unfortunate feature appears to be that in recent years it is emerging to be an epicentre of domestic political crime. A harbinger to this regrettable development was on the eve of ...
Jun 22, Colombo: Sri Lanka's Opposition Leader Ranil Wickremasinghe has asked the government to disclose the present position of investments made by the country's private sector retirement funds, Employees Provident Fund (EPF) and Employees Trust Fund (ETF).
Calls for Govt. to table details of investments in listed securities from January 2010 to April 2012 Says the two funds and Central Bank come under Finance Ministry and accountable to Parliament In a strong move, Opposition Leader Ranil Wickremesinghe yesterday urged the Government to table in Parliament full details of all investments in listed ...
Cabinet could be held responsible for the controversial investments made out of the EPF and ETF funds at the Colombo Stock market (CSE) opposition Leader Ranil Wickremasinghe said.
Opposition Leader Ranil Wickremesinghe today demanded that the Government inform the House of the present position of the investments made by utilizing the funds belonging to the Employees Provident Fund (EPF) and Employees Trust Fund (ETF). Making special statement in Parliament, the Opposition
Jun 21, Colombo: Responding to a statement made by the rating agency Standard & Poor on the country's private sector retirement fund, Employees' Provident Fund (EPF), the Central Bank Wednesday said that there is no conflict of interest as a result of the EPF investing in shares of banks.
Ahead of its Annual General Meeting next week, The Lighthouse Hotel has finalised plans for a Rs. 430 million expansion that will see the addition of 23 deluxe rooms and two suites. The upgrade will also include a new restaurant and a bar with an extension to the spa in addition to the refurbishment of ...
Our attention is drawn to a statement made by Standard and Poor’s that was issued yesterday, in which they seem to have drawn attention to a possible conflict of interest as a result of the EPF investing in shares of banks. In this regard, the EPF wishes to state that different departments
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard