The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Search

 
 

Display results as :
 

 

Rechercher Advanced Search

Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
The Finance Company continues second phase of restructuring EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
The Finance Company continues second phase of restructuring EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
The Finance Company continues second phase of restructuring EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
The Finance Company continues second phase of restructuring EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
The Finance Company continues second phase of restructuring EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
The Finance Company continues second phase of restructuring EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
The Finance Company continues second phase of restructuring EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
The Finance Company continues second phase of restructuring EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
The Finance Company continues second phase of restructuring EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
The Finance Company continues second phase of restructuring EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
The Finance Company continues second phase of restructuring EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
The Finance Company continues second phase of restructuring EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
The Finance Company continues second phase of restructuring EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
The Finance Company continues second phase of restructuring EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
The Finance Company continues second phase of restructuring EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
The Finance Company continues second phase of restructuring EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
The Finance Company continues second phase of restructuring EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
The Finance Company continues second phase of restructuring EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
The Finance Company continues second phase of restructuring EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
The Finance Company continues second phase of restructuring EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
The Finance Company continues second phase of restructuring EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
The Finance Company continues second phase of restructuring EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
The Finance Company continues second phase of restructuring EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
The Finance Company continues second phase of restructuring EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
The Finance Company continues second phase of restructuring EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
The Finance Company continues second phase of restructuring EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
The Finance Company continues second phase of restructuring EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
The Finance Company continues second phase of restructuring EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
The Finance Company continues second phase of restructuring EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
The Finance Company continues second phase of restructuring EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
The Finance Company continues second phase of restructuring EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
The Finance Company continues second phase of restructuring EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
The Finance Company continues second phase of restructuring EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
The Finance Company continues second phase of restructuring EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
The Finance Company continues second phase of restructuring EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
The Finance Company continues second phase of restructuring EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
The Finance Company continues second phase of restructuring EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
The Finance Company continues second phase of restructuring EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
The Finance Company continues second phase of restructuring EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
The Finance Company continues second phase of restructuring EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
The Finance Company continues second phase of restructuring EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
The Finance Company continues second phase of restructuring EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
The Finance Company continues second phase of restructuring EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
The Finance Company continues second phase of restructuring EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
The Finance Company continues second phase of restructuring EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
The Finance Company continues second phase of restructuring EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
The Finance Company continues second phase of restructuring EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
The Finance Company continues second phase of restructuring EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
The Finance Company continues second phase of restructuring EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
The Finance Company continues second phase of restructuring EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

4 posters

    The Finance Company continues second phase of restructuring

    First Guy
    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22
    • Post n°1

    The Finance Company continues second phase of restructuring Empty The Finance Company continues second phase of restructuring

    Post by First Guy Wed Dec 17, 2014 7:21 am

    The Central Bank said yesterday the second phase of restructuring of The Finance Company Plc was progressing to make it profitable.

    In a statement, the Central Bank said in keeping with the direction issued by the Monetary Board at its meeting held on 26 May, the bank has continued the implementation of the second phase of restructuring of The Finance Company PLC (TFC). This was in order to further stabilise the company and move it to a profitable level, in terms of the provisions of the Finance Business Act No. 42 of 2011.

    Already, a new Board of Directors has been appointed and a new business model has been implemented by the TFC under which the company is expected to broad base and rationalise its business activities.

    At the same time, the Monetary Board has approved a long-term concessionary loan facility from the Sri Lanka Deposit Insurance and Liquidity Support Fund in order to support the liquidity requirements of TFC as per the envisaged new business model.

    In that context, an agreement pertaining to the liquidity support facility was signed on 15 December by Chairman Dr. S.H.A.M. Abeyratne and Managing Director Aruna Lekamge of TFC, with the Central Bank of Sri Lanka. As a result, TFC is now expected to further consolidate its progress towards reaching a stable, sustainable and profitable level that would enable the company to attract new equity capital through a suitable future share issue.

    The current Board of Directors of TFC are as follows: Dr. S.H.A.M. Abeyratne (Chairman), Sujeewa Rajapakse (Deputy Chairman/Non-Executive Independent Director), Aruna P. Lekamge (Managing Director), T.B. Ekanayake (Executive Director), R.D. Abeywickrama (Executive Director), Dr. Rohantha Athukorala (Non-Executive Independent Director) and Himalee Kularathna (Non-Executive Independent Director).

    http://www.ft.lk/2014/12/17/the-finance-company-continues-second-phase-of-restructuring/
    • Back to top
    RPPA
    avatar
    RPPA
    Top contributor
    Top contributor


    Posts : 605
    Join date : 2014-11-28
    • Post n°2

    The Finance Company continues second phase of restructuring Empty Re: The Finance Company continues second phase of restructuring

    Post by RPPA Wed Dec 17, 2014 7:59 am

    What ever the Restructuring on TFC will be a waist until they make at least a minor profit to stop the capital erosion. They have whole heap of branches island wide where almost 90% are loss centers.

    TFC had never made a profit of more than Rs.1Bn in their history of more than 60 years.But they have made losses of more than 1Bn continuously for last few years.Therefore who ever managing this company has to do some miracles to make the NAV positive.

    Currently this company is running with new Fixed deposits of innocent investors. Shocked

    I can't understand why CBSL allow TFC to canvas more deposits to make the situation worse & dragging some more depositors in to misery Shocked


    Last edited by NWA on Wed Dec 17, 2014 8:19 am; edited 1 time in total
    • Back to top
    serene
    avatar
    serene
    Top contributor
    Top contributor


    Posts : 4850
    Join date : 2014-02-26
    • Post n°3

    The Finance Company continues second phase of restructuring Empty Re: The Finance Company continues second phase of restructuring

    Post by serene Wed Dec 17, 2014 8:00 am

    Yhanks 1st G.
    Step in right Direction.
    However will take some time to make it profitable as they might need to recruit able employees and build up quality portfolio.
    • Back to top
    balapas
    avatar
    balapas
    Top contributor
    Top contributor


    Posts : 762
    Join date : 2014-02-23
    Age : 44
    • Post n°4

    The Finance Company continues second phase of restructuring Empty Re: The Finance Company continues second phase of restructuring

    Post by balapas Wed Dec 17, 2014 4:21 pm

    Where is the capital injection promised? Nothing mentioned about it. Also the foreign investor has gone missing. I was told GOVT trying to force it to someone.
    • Back to top

      Current date/time is Fri Nov 08, 2024 12:08 pm