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Again a Bond Scam EmptyYesterday at 8:13 pm by Rana

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» Thread for News on CSE and SL Economy
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» Little Known Facts !
Again a Bond Scam EmptyYesterday at 9:27 am by කිත්සිරි ද සිල්වා

» හීන්බන්ඩාගේ රැකියාව ඇසූ පසු පොලිස් නෝනලාට තරු පෙනුනා
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» DFCC.N0000 ( DFCC BANK PLC )
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» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
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» HASU.N0000 (HNB ASSURANCE PLC)
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» EAST WEST PROPERTIES PLC (EAST.N0000)
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» අසිරිමත් සුබ නව වසරකට ආසිරි !
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» Dividend Announcement
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» SEYLAN DEVELOPMENTS PLC (CSD.N0000)
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» East West properties
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» HHL.N0000 ( Hemas Holdings PLC)
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» Thread for News on Local and Foreign Politics
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» අනං මනං! #/+?.<>
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» CONN.N0000
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» LION.N0000 (Lion Brewery Ceylon PLC)
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»  5000 Post Milestone - Congratulations
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» NTB.N0000 (NATIONS TRUST BANK PLC)
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» Micro Finance
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» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
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» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
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» PLC.N0000 ( People's Leasing and Fiance PLC)
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» VPEL.N0000 (VALLIBEL POWER ERATHNA PLC )
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» SAMP.N0000 (SAMPATH BANK PLC)
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» Sinhala Cinema
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» SEYB.N0000 ( SEYLAN BANK PLC )
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» LIOC.N0000 (Lanka IOC PLC)
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» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
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» Plantation sector updates
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» What to Analyse
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» MTD WALKERS - KAPI
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» VONE.N0000 (VALLIBEL ONE PLC)
Again a Bond Scam EmptySun Mar 31, 2019 6:09 pm by lanka

» In the Meantime, Within Our Shores !
Again a Bond Scam EmptySun Mar 31, 2019 11:22 am by කිත්සිරි ද සිල්වා

» PB. N0000 (People's Bank)
Again a Bond Scam EmptyFri Mar 29, 2019 5:33 pm by yellow knife

» Obituary Notice.
Again a Bond Scam EmptyFri Mar 29, 2019 5:07 pm by කිත්සිරි ද සිල්වා

» Re: Financial reports Q1-2019
Again a Bond Scam EmptyFri Mar 29, 2019 7:45 am by serene

» Save Wilpattu !
Again a Bond Scam EmptyThu Mar 28, 2019 1:58 pm by puliyanam

» Help him Today, so he can help another Tomorrow
Again a Bond Scam EmptyThu Mar 28, 2019 7:49 am by serene

» HNB.N0000 ( Hatton National Bank PLC)
Again a Bond Scam EmptyTue Mar 26, 2019 6:18 am by pjrngroup

» අපිට විතරද පායන්නේ ?
Again a Bond Scam EmptyMon Mar 25, 2019 9:06 pm by malanp

» Tourism sector
Again a Bond Scam EmptyMon Mar 25, 2019 5:47 pm by NIRMALSG

» Oman's Oil and Gas Minister Dr. Al Ruhmy arrives in Lanka.
Again a Bond Scam EmptySun Mar 24, 2019 12:11 pm by Ethical Trader

» රෝගීන් වෙනුවෙන් කැප වන සෞඛ්‍ය සේවාවක් වෙනුවෙන්.....
Again a Bond Scam EmptyTue Mar 19, 2019 9:34 am by AjithR

» JEWS OF SRI LANKA: AN UNTOLD STORY
Again a Bond Scam EmptyTue Mar 19, 2019 9:22 am by කිත්සිරි ද සිල්වා

» How Small We are in the universe
Again a Bond Scam EmptyTue Mar 19, 2019 7:29 am by nihal123

» ඉස්සරහට අපි පරදින එකනම් ෂුවර් – ධම්මික ක්‍රිකට් ගැන කතා කරයි
Again a Bond Scam EmptyFri Mar 15, 2019 2:59 pm by nuwanmja

» HAYL.N0000 Hayleys PLC
Again a Bond Scam EmptyThu Mar 14, 2019 2:46 pm by yellow knife

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Again a Bond Scam

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Again a Bond Scam Empty Again a Bond Scam

Post by Future123 on Mon Mar 07, 2016 12:29 am

Possibly Arjuna Mahendran's son in law's firm bought these bonds and sold it to EPF with a massive profit.

http://www.sundaytimes.lk/160306/business-times/suspicion-over-recent-treasury-bond-purchases-185119.html


‘Suspicion’ over recent Treasury bond purchases
View(s): 688

Deals by two ‘influential’ money market traders who purchased large stocks of Treasury bonds and sold it at a premium a few weeks later to the Employees Provident Fund (EPF) are raising many questions, dealers said. ”We have no proof or evidence but the process appeared to be very suspicious,” one dealer said, adding that the deals have been over the past few months.

Dealers said that the two traders unusually bid at a higher rate for large blocks. A few weeks later these institutions sold the bonds to EPF at a profit while the state agency, which is eligible to buy in the primary market on its own, stands to lose on the deal. “Why didn’t the EPF buy in the primary market?” asked one dealer. The last crisis to hit the market was in February 2015 when questions were raised over the CB’s 10-billion rupee bond sale which was sold at higher than normal rates.


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Again a Bond Scam Empty Re: Again a Bond Scam

Post by balapas on Tue Sep 27, 2016 1:45 pm

Company Involved In Alleged Central Bank Bond Scam Records Mammoth Increase In Profits

Perpetual Treasuries Limited, a primary gilt dealership, connected the family of a controversial former Sri Lanka central bank governor, has made a profit of 5.1 billion rupees for the year to March 2016 up 434 percent from a year earlier, published data show.

The firm reported capital gains of 5.2 billion rupees from bond trading in the year to March 2016, up 581 percent from 767 million rupees a year earlier, accounts published in Sri Lanka's Sunday Observer newspaper showed.

Under central bank regulations, all primary dealers have to publish their accounts.

Return on beginning-of-the-equity of 1,065 million was 481 percent.

Sri Lanka's bond markets were hit by a series of controversial bond auctions involving allegations rigging and insider dealing in 2015 and 2016 during the tenure of ex-Central Bank Governor Arjuna Mahendran.

Perpetual Treasuries is connected to Mahendran's son-in-law and he came under fire over conflicts of interest as long term bonds were sold at high rates where large volumes.

Mahendran has denied wrongdoing.

Interest income at Perpetual Treasuries rose 162 percent to 942.8 million rupees and interest expenses rose 132 percent to 589.1 million rupees, and net interest income rose 233 percent to 353 million rupees.

The majority of profits of a primary dealer however comes from capital gains. Primary dealers in government securities, bids at government bond auctions and sell them to other buyers making a margin.

The price of a government bond rise when interest rates falls and the price falls when interest rates go up.

When rates fall, a dealer with a portfolio can sell and make profits from bond bought at a higher interest rate (low price). Interest rate volatility provides opportunities for dealers to make gains by selling down their portfolio.

Concerns were raised that after selling government bonds at high interest rates (low prices) by accepting sharply higher volumes of bids from favoured dealers effectively rigging the auctions, the bonds were then dumped dealers at low rates (high prices) on the Employees Provident Fund, which was managed by the central bank.

(Economy Next)


http://asianmirror.lk/news/item/19364-company-involved-in-alleged-central-bank-bond-scam-records-mammoth-increase-in-profits

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Again a Bond Scam Empty Re: Again a Bond Scam

Post by yellow knife on Tue Sep 27, 2016 1:55 pm

Again a Bond Scam Nathan-rothschild-quote

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Again a Bond Scam Empty Re: Again a Bond Scam

Post by Future123 on Tue Sep 27, 2016 2:59 pm


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