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Sri Lanka Equity Forum » Stock Market Talk » Sucking blood from minor share holders without working to develop company

Sucking blood from minor share holders without working to develop company

Go down  Message [Page 1 of 1]

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
Example of companies which have such directors

Ex.

High management fees of BALA and MADU
REEF - stealing warrants

more example please

dilshan

dilshan
Senior Equity Analytic
Senior Equity Analytic
~ SHL ~

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
there are lot's of examples of sucking, while to a certain extent developing the company

eg-
1) KOTA used to fund the majority shareholders via low interest rates (300 million at 9%)
http://www.cse.lk/cmt/uploadAnnounceFiles/6201302065020_713.pdf

2) KOTA money used to fund the group takeover of CWM without even making CWM an associate
http://www.cse.lk/cmt/uploadAnnounceFiles/2121264162464_713.pdf

3) LDEV minority used as an ATM to transfer a loss making tea plantation (turing a road construction company into a tea plantation)
http://www.cse.lk/cmt/uploadAnnounceFiles/5851299655983_446.pdf


4) Continous rights issues within the LCEY/CFLB group's minor subsidiaries (MULL, MARA, SIGV, LITE, LDEV)

5) RENU used to fund related party/director owned companies in Australia (300 million at 5%)
note 20 of AR http://www.cse.lk/cmt/upload_report_file/569_1314702853575.pdf

6) LMF being used to consolidate DIST ownership (beter for LMF minority shareholders to sell the DIST shares and take the money out as dividends)

7) RCL money being used to consolidated HAYL ownership (same as with LMF)

Cool CTLD money used to fund 'failing" group real estate ventues (115 million dumped into CT Properties)
note 16 of AR http://www.cse.lk/cmt/upload_report_file/614_1307071560687.pdf


there should be lots more but these are the ones i could remember off the top of my head, the solution to such idiocy is for minority share holders to stop funding rights issues of such joker companies (easier said than done since we only have 250 companies to invest in)

lokuayya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
this is very timely discussion.thanks sapumal and innams. atleast we should discuss these blood sucking schemes in this forum to reveal and shame those who pretend as management gurus,management vizkids.
only management they do is pickpocketing minor share holders money.
the management fees of some plantation companies is a day light robbery of share holder money.

some developments are encouraging, hnbs failed right issue, mal right defeat etc.

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
all rights issues Question Exclamation Question

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
We have to identify such companies/groups and stop buying shares from IPO/secondary market and prevent funding right issues/warrants

GREG group is another example

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