Sunday, May 17, 2015
When Fools Rush In!
Now what is the strange deal going on, which the deaf and blind Media in Sri Lanka has not been able to gauge?
How come Ravi Karunanayake the Finance Minister who has NO jurisdiction over the Central Bank, is making statements that the Golden Key Depositors WILL get their money from the CB, IF THEY THE DEPOSITORS DROP all legal action?
What is the deal? Has Ravi K been paid off by Lalith K to do this so it clears the latter from any case or wrongdoing and can rise like a Phoenix from the ashes, to become the US$100M man again with his shareholding of 50% in Ceylinco Insurance intact.
US$100M is Rs 13.3B and Ceylinco Insurance market cap is Rs30B, so that is how I arrive at that figure.
Washed up journalists of Sri Lanka please note that there is NO mention of how much of the money these depositors will get back. With interest rate quoted of 35% per annum for GK being OTT, it will definitely not be 100% as that will asking too much. So it is likely that 40% would be the more reasonable figure to pay back. CB will take over the assets!
If you were a Golden Key depositor will you hold out for more? I rather think not, and it seems therefore that Lalith K will get off scott free from that scandal to take his seat in public with no remorse, as he has blamed the Rajapakse Govt. of screwing him royally, which led to the down fall in the first place.
COINCIDENTALLY the Ceylinco Insurance ESOP sold 10% of the company to some shady characters and companies no one has heard of and NO JOURNALIST has yet investigated. So who are the shady purchases? Is it a Lalith Kotelawala owned trust or company overseas that has bought this? Hidden Assets!!! Who gets the proceeds?
Then what about the court case of the ownership of the ESOP that has over 30% of Ceylinco Insurance? Does LK own this and not the Employees. Who is (as in fat cat lawyers) protecting the interests of the Ceylinco Employees?
MORON JOURNALISTS surely isn’t there something very fishy going on here? Are you guys so sleepy or brain dead so as NOT to see this scoop, or have you been handsomely paid off, as the Finance Minister seems to have!
What is Ranil Wickremasinghe the PM doing about it? I think as the Minister in charge of the CB, he should be asking the questions above. The trouble is that he is so intellectually out to lunch, questioning the legality of Gota’s stay order, that he has missed the plot that his own ministers are hatching under him.