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» EAST WEST PROPERTIES PLC (EAST.N0000)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyToday at 11:51 am by yellow knife

» HASU.N0000 (HNB ASSURANCE PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyToday at 10:32 am by yellow knife

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyYesterday at 8:09 pm by PANTOMATH

» අසිරිමත් සුබ නව වසරකට ආසිරි !
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyYesterday at 6:33 pm by hammurabi

» Thread for News on CSE and SL Economy
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 16, 2019 6:52 pm by NIRMALSG

» Dividend Announcement
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySat Apr 13, 2019 10:53 pm by nihal123

» SEYLAN DEVELOPMENTS PLC (CSD.N0000)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 12, 2019 8:55 am by yellow knife

» East West properties
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 12, 2019 5:27 am by dhanurrox

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 09, 2019 8:04 pm by NIRMALSG

» Thread for News on Local and Foreign Politics
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 09, 2019 11:25 am by Ethical Trader

» අනං මනං! #/+?.<>
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 08, 2019 7:23 pm by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 08, 2019 6:07 pm by NIRMALSG

» කිරි පිටි ගැන ඔබ මෙතෙක් නොදත් දේ
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 08, 2019 5:31 am by Ethical Trader

» CONN.N0000
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Apr 07, 2019 3:15 pm by NIRMALSG

» LION.N0000 (Lion Brewery Ceylon PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Apr 07, 2019 8:52 am by ruwan326

»  5000 Post Milestone - Congratulations
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 05, 2019 9:07 pm by Ethical Trader

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 05, 2019 1:37 pm by Ethical Trader

» හීන්බන්ඩාගේ රැකියාව ඇසූ පසු පොලිස් නෝනලාට තරු පෙනුනා
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 05, 2019 12:36 pm by Ethical Trader

» Micro Finance
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 05, 2019 12:14 pm by yellow knife

» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Apr 05, 2019 7:40 am by serene

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyThu Apr 04, 2019 6:53 pm by NIRMALSG

» PLC.N0000 ( People's Leasing and Fiance PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyWed Apr 03, 2019 6:04 pm by NIRMALSG

» VPEL.N0000 (VALLIBEL POWER ERATHNA PLC )
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyWed Apr 03, 2019 3:40 pm by catseye

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 02, 2019 12:38 pm by malanp

» Sinhala Cinema
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 02, 2019 12:31 pm by yellow knife

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 02, 2019 11:23 am by Backstage

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 02, 2019 11:15 am by LSE

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Apr 02, 2019 11:11 am by Backstage

» Plantation sector updates
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 01, 2019 2:13 pm by nihal123

» What to Analyse
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 01, 2019 8:00 am by yellow knife

» MTD WALKERS - KAPI
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Apr 01, 2019 5:01 am by NIRMALSG

» VONE.N0000 (VALLIBEL ONE PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Mar 31, 2019 6:09 pm by lanka

» In the Meantime, Within Our Shores !
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Mar 31, 2019 11:22 am by කිත්සිරි ද සිල්වා

» PB. N0000 (People's Bank)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Mar 29, 2019 5:33 pm by yellow knife

» Obituary Notice.
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Mar 29, 2019 5:07 pm by කිත්සිරි ද සිල්වා

» Happy Birthday
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Mar 29, 2019 9:58 am by Backstage

» Re: Financial reports Q1-2019
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Mar 29, 2019 7:45 am by serene

» Save Wilpattu !
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyThu Mar 28, 2019 1:58 pm by puliyanam

» Help him Today, so he can help another Tomorrow
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyThu Mar 28, 2019 7:49 am by serene

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Mar 26, 2019 6:18 am by pjrngroup

» අපිට විතරද පායන්නේ ?
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Mar 25, 2019 9:06 pm by malanp

» Tourism sector
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyMon Mar 25, 2019 5:47 pm by NIRMALSG

» Oman's Oil and Gas Minister Dr. Al Ruhmy arrives in Lanka.
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Mar 24, 2019 12:11 pm by Ethical Trader

» රෝගීන් වෙනුවෙන් කැප වන සෞඛ්‍ය සේවාවක් වෙනුවෙන්.....
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Mar 19, 2019 9:34 am by AjithR

» JEWS OF SRI LANKA: AN UNTOLD STORY
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Mar 19, 2019 9:22 am by කිත්සිරි ද සිල්වා

» How Small We are in the universe
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyTue Mar 19, 2019 7:29 am by nihal123

» ඉස්සරහට අපි පරදින එකනම් ෂුවර් – ධම්මික ක්‍රිකට් ගැන කතා කරයි
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyFri Mar 15, 2019 2:59 pm by nuwanmja

» HAYL.N0000 Hayleys PLC
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptyThu Mar 14, 2019 2:46 pm by yellow knife

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Mar 10, 2019 8:36 pm by NIRMALSG

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Sri Lanka's The Finance struggle to recover Ceylinco assets EmptySun Mar 10, 2019 6:40 am by ruwan326

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Sri Lanka's The Finance struggle to recover Ceylinco assets

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Sri Lanka's The Finance struggle to recover Ceylinco assets Empty Sri Lanka's The Finance struggle to recover Ceylinco assets

Post by The Invisible on Fri Aug 24, 2018 11:29 am

ECONOMYNEXT - Sri Lanka's The Finance Plc, a unit if the now defund Ceylinco group which has a 14 billion rupee hole in its balance sheet, said it was struggling to recover loans and other assets given to member firms without proper documentation.

"..{O]ne of the most challenging tasks the board had during the year under review was to initiate action on recovering the loans granted to former Ceylinco Group companies," current chairman Wasantha Kumarasiri told shareholders.

"Lack of documents on many transactions on historical legacy issues is the main challenge faced by the Board."

The board of the non-bank lender had been replaced by the regulation as part of efforts to restructure the firm.

A property, France Road Residencies, for which the firm had title, but was under a different Ceylinco firm had begun to transfer and a buyer had been found for 575 million rupees. However a 'new challenge' had emerged in the completing the transfer, Kumarasiri said without elaborating.

A buyer has been found for The International School in Galle and Payagala, General Manger Nimal Mamaduwa said.

Unprofitable branches had been closed and head office staff reduced to cut costs.

In the March quarter The Finance lost 743 million rupees. It had interest expenses of 1.09 billion rupees and interest income of 791 million rupees.

The Finance had 22 billion rupees of assets on the books, 29 billion rupees of deposits from customers and also 5.3 billion rupees in borrowings, giving negative net assets of 15 billion rupees.

The firm is looking for a buyer who can infuse 125 million US dollars. (Colombo/Apr24/2018)
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Sri Lanka's The Finance struggle to recover Ceylinco assets Empty Re: Sri Lanka's The Finance struggle to recover Ceylinco assets

Post by කිත්සිරි ද සිල්වා on Fri Aug 24, 2018 4:53 pm

මෙන්න කොතළාවලගේ කෙරුවාවෙන් බිදක්. Shocked

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Sri Lanka's The Finance struggle to recover Ceylinco assets Empty Re: Sri Lanka's The Finance struggle to recover Ceylinco assets

Post by Ethical Trader on Fri Aug 24, 2018 5:51 pm

See this also to find out the beginning of their collapse.
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