No withdrawwals of CIFL deposits

Hi guys, Look at this paper article, This paper has been Publishing various baseless articles to destroy few finance companies, Strangely well known Bad companies they never write anything, if you read their articles you can see how they want to attack kanrich Finance, I saw few articles, they kept on writing manipulating articles to see that kanrich customers will loose their faith on the Company. And also I saw they wrote about Soft logic Finance, Bartlett Finance and some other companies, This is a Third grade work which normally Happen in rural villages called "Kele Pathtara" Why do you people want to be dirty laundries, who wants wash  dirty underpants for a cheap Buck, When I try to put a comment to the editor few times they never published it, is this called your readers rights to comment? why do you only publish the comments only from the people who support your underpants washing business.

I hope this forum will respect everyone views and ideas, They always quote CB officials, I checked with CBSL Non banking Director Personally and He said there is nothing against kanrich or Soft logic finance or Bartleet Finance, So it is evident that This news paper deliberately trying to damage these companies by spreading rumors like this some one should take actions for this. I request all the people to read and understand before you make your decisions, Not only about this article even the adverts from finance companies as well.
http://www.srilankamirror.lk/news/10018-no-withdrawals-of-cifl-deposits

Yes, u are correct.

It seems some parties work against some finance companies by spreading baseless news which may reason to break the confidence of customers.
However, all facts that we've discussed here are not completely false statements because I have experienced some of them.

When consider Kanrich finance, there are 2 main 'weaknesses', (not errors or frauds) and they are real. But there was a gossip spreading which about a fraud, and it seems a fake. I don't the actual reason or the truth because of internal connections of owners, but publishers of that news hadn't have a proper reason also. In the page which accessible through the link above, the name 'Kanrich' is shown as 'Canrich'. It's a good point which states the quality of the article.

There is a problem in CIFL, probably in liquidity as officials said but financial reports cause doubt about its management and make a sense of internal fraud as its past auditors have resigned from audit engagement. It is known that the administration of CIFL was shifted to PLC management and they work for recovery. All these affairs are out of transparency, no sharp dimension for the recognition of the situation. It seems that CBSL has not done its duty correctly.

Finance sector is the highest sensitive field among commercial services. The entire system of finance companies in a country or region can be easily destroyed as of a very little message which makes dealers insecure. It may badly influence on entire finance system and economy of a specific country, region or worldwide.
Therefore, it is a big responsibility to maintain the customer confidence and prevent the spreading of fake news.

Mmmm................ Well organised group no? Hope our readers can smell something?

Ok we all know that CBSL has't done it's duty correctly

But what are the measures that they have taken atleast now to protect the customers of CIFL? And is it enough???

What do you guys think???

Pls suggest some action that can be taken if you are Mr. Cabraal

@ shehani.perera.1612,

Normally the quality of the paper reporter is visible from his language. I guess this guy made many spelling mistakes on the published paper.

Redbulls wrote:Mmmm................ Well organised group no? Hope our readers can smell something?

To prevent leaking into my room I am going to shutdown this machine.

By the way , Shehani is straightforward, she openly told us she worked for Kanrich boss. That is good.

shehani.perera.1612 wrote:Hi guys, Look at this paper article, This paper has been Publishing various baseless articles to destroy few finance companies, Strangely well known Bad companies they never write anything, if you read their articles you can see how they want to attack kanrich Finance, I saw few articles, they kept on writing manipulating articles to see that kanrich customers will loose their faith on the Company. And also I saw they wrote about Soft logic Finance, Bartlett Finance and some other companies, This is a Third grade work which normally Happen in rural villages called "Kele Pathtara" Why do you people want to be dirty laundries, who wants wash  dirty underpants for a cheap Buck, When I try to put a comment to the editor few times they never published it, is this called your readers rights to comment? why do you only publish the comments only from the people who support your underpants washing business.

I hope this forum will respect everyone views and ideas, They always quote CB officials, I checked with CBSL Non banking Director Personally and He said there is nothing against kanrich or Soft logic finance or Bartleet Finance, So it is evident that This news paper deliberately trying to damage these companies by spreading rumors like this some one should take actions for this. I request all the people to read and understand before you make your decisions, Not only about this article even the adverts from finance companies as well.
http://www.srilankamirror.lk/news/10018-no-withdrawals-of-cifl-deposits

shehani, best way forward would be all these 3 alleged finance companies get together and place a clarification article on the national newspapers about the rumor, so that you can quell any suspicion in the public eye...

Good luck
TAH

Whoever says whatever, we know nothing until shit happens.

OK read this about CIFL

Source: http://www.lankadeepa.lk/index.php/articles/165826

ෆිනෑන්ස් සමාගමක් ලක්ෂ පනහක් වංචා කරලා

තැන්පත්කරුවන්ගේ මුදල් වංචා කළැයි සෙන්ට්‍රල් ඉන්වෙස්ට්මන්ට්ස් ඇන්ඩ් ෆිනෑන්ස් පීඑල්සී සමාගමේ අධ්‍යක්ෂවරුන් තිදෙනකුට සැප්තැම්බර 16 වැනිදා උසාවි එන ලෙස දන්වමින් නොතීසි නිකුත් කරන්නැයි කොළඹ කොටුව ප්‍රධාන මහේස්ත්‍රාත් තිලිණ ගමගේ මහතා නියෝග කළේය.
දොන් ජෝසප් ඩග්ලස්, අජිත් ප්‍රභාත් හා ප්‍රේමසිරි විතාන යන අධ්‍යක්ෂවරුනට මෙසේ නොතීසි නිකුත් කැරිණි.
කොම්පඤ්ඤවීදිය පොලිසිය අධිකරණයට වැඩිදුර වාර්තාවක් ඉදිරිපත් කරමින් පැවසුවේ තැන්පත්කරුවන් හැත්තෑ දෙනකුගෙන් පැමිණිලි ලැබී ඇති බවයි.
ඔවුන්ගේ තැන්පතුවලට ලාභාංශ නොලැබුණු බවත්, රුපියල් පනස් ලක්ෂයක් පමණ වංචා කර ඇති බවත් මේ පැමිණිලිවලින් කියැවෙන බවත් පොලිසිය කියා සිටියේය.
දැනට ඇප මත සිටින අධ්‍යක්ෂවරුන් වන ලක්ෂමන් රූපසිංහ හා ගාමිණී කරුණාතිලක වෙනුවෙන් පෙනී සිටි නීතීඥවරයා කියා සිටියේ ඔවුන් මෑතදී පත් කළ බවයි. අතීත ගනුදෙනු ගැන ඔවුන් නොදන්නා බව ද නීතීඥවරයා සඳහන් කළේය.
සමාගම වෙනුවෙන් පෙනී සිටි නීතීඥවරයා කියා සිටියේ ශ්‍රී ලංකා මහ බැංකුවේ අනුමැතිය ලැබීමෙන් පසු තැන්පත්කරුවන්ගේ මුදල් ගෙවීමට සමාගමට හැකි බවයි.
ඒ අනුව මුදල් අපසු ගෙවීමේ සැලැස්මකට ශ්‍රී ලංකා මහ බැංකුව අනුමත කරන්නේදැයි දැන ගැනීමට එහි බැංකු නොවන මූල්‍ය කටයුතු අධ්‍යක්ෂට සැප්තැම්බර 16 වැනිදා අධිකරණයේ පෙනී සිටින ලෙස ද නොතීසි නිකුත් කැරිණි.

සමාගම වෙනුවෙන් පෙනී සිටි නීතීඥවරයා කියා සිටියේ ශ්‍රී ලංකා මහ බැංකුවේ අනුමැතිය ලැබීමෙන් පසු තැන්පත්කරුවන්ගේ මුදල් ගෙවීමට සමාගමට හැකි බවයි.

ෆිනෑන්ස් සමාගම් වලට සල්ලි අච්චු ගහන්න පුලුවන් කියල ඇහුවමයි .

hmm....Finally truth came out.

Clearly if the second largest shareholder Deepthi perera of CIFL has sold his shareholding and left all companies with SEC /BOI/Central Bank allowing him to float a company IPO with suspect audited accounts Now established as lies
What chance do the Foreign Investor Myself wayne steven abbott and the depositers of sri lanka have to have funds reimbursed when large bodies in sri lankan business circles have failed to protect us from these theifs
Wayne Steven Abbott

Shenani Perera is in denial and is trying to boost support to a Company that has illegally operated and is now clearly evident for all to see in which I have personally submitted many letters to the governing bodies of these criminals with no replies

Wayne Abbott wrote:Shenani Perera is in denial and is trying to boost support to a Company that has illegally operated and is now clearly evident for all to see in which I have personally submitted many letters to the governing bodies of these criminals with no replies

The Same reason why you got stranded in Germany In a prison, If you want more details to be published with documentary proof keep on blaming the others

What is this ?

This statement is taken from Kanrich Annual report:

"The word Kanrich is a Sinhalese word meaning mutual wish or the agreement of a group. It signifies our philosophy of ....."

Can any person who knows Sinhala  explain this ?
Mata me wage sinhala wachanayak ennema naha

Chinwi wrote:What is this ?

This statement is taken from Kanrich Annual report:

"The word Kanrich is a Sinhalese word meaning mutual wish or the agreement of a group. It signifies our philosophy of ....."

Can any person who knows Sinhala  explain this ?
Mata me wage sinhala wachanayak ennema naha

Kanrich = Kan Rich = Can Rich   


Both CIFL & Kanrich wanted their customers to get rich initially and when they feel the taste, they'll come back and put more and more money withdrawing from other places too..
This is like how some traveling companies promote their business by offering accommodation free or for a concession rate to various countries under the guise of raffle-draws hoping that the potential candidates will use their accommodation next time and spread the word of mouth.
How'd these finance companies done it? They offered their customers higher FD rates than what's approved by CB.

To evade the regulations, they give some portion of the interest upfront, following Sakvithi's
style..

Do we have to anticipate a downfall further???

more on this..

http://www.srilankamirror.lk/biz/7874-ci-fl-and-kanrich-following-sakvithi-steps

I dont think shehani perera knows anything here either... Is she/he trying to mislead us when we have some idea on this case?? Shame haa

We cannot believe either Wayne or Shehani, because it seems both of them know something than they show outside. I suppose too that Shehani has a relationship with one of these troubled companies (Actually troubled is CIFL) and there are hidden facts of Wayne what he did not expose.
It looks Shehani knows much about Wayne and related business affairs. If this situation continues, more news will come out.

However, I'm watching at this with naked eyes.

I have no personal links or problems with any of these so called finance companies.

I went through the Balance Sheets of all three companies mentioned above and I feel Kanrich is in the middle of same destiny of its already dead brother. I wish I am wrong.
I am sure the management has the knowledge to foreseen this .

BTW, you can't see the same vulnerable situation in other two. -Softlogic and Bartleet-

Problems of CIFL aggregated mainly due to heavy investment in non-selling Lands using interest paying capital.
You can see somewhat a same picture in Kanrich also.

They have to generate money to pay interest to other parties -including depositors-  for 1432 million (1.43 billion) Rupees.

They have only 731 million in interest generating places. (50%)

Rs. 668 million is struck in land stocks.  All know, the present situation of land sales are not good for any company or individuals. land values are going down or stopped appreciation in many places.

I hope they will convert those lands into cash before it is too late.



--- ---

Small, they clearly  say it is a Sinhala word .

"The word Kanrich is a Sinhalese word...

Yes Chinwi, I just referred to the Kanrich 2012 report and it shows a need of maintaining more liquidity.
Cash flow from operating activities shows a minus value while the total flow is a minus value. They had generated cash through sales of real estates.

**Loans and advances has increased by 346% while the total deposits has increased by 30%. It has reasoned to the negative of cash flow much.

Anyone can explain the legal side of this? I have low knowledge about finance law.

Roboticfx wrote:We cannot believe either Wayne or Shehani, because it seems both of them know something than they show outside. I suppose too that Shehani has a relationship with one of these troubled companies (Actually troubled is CIFL) and there are hidden facts of Wayne what he did not expose.
It looks Shehani knows much about Wayne and related business affairs. If this situation continues, more news will come out.

However, I'm watching at this with naked eyes.

Dear Friends,

I just thought of a small clarification on my relationship with these companies, I am currently working for a Company who provide services for Both these Finance companies and previously we provided all the secretarial work for Aspic Corporation. I have worked with most of the Directors and Current and previous chairman s of this group. I knew most of the Transactions and investments they made and rational behind those investments, (this does not mean I am in agreement to those investments) How ever I had chances of meeting some interesting people during last 7 years, Including Mr. Wayne Abbott, Mrs.J Warwick, Mr.J Rudford, Mr, Jonathan Spencer, who are Investors of the Group. Yes I am agreeing with you I know more than I state, But I respect the customers privacy as well, I came to the Forum because currently I am preparing for my case study and I am taking most of the information from this Group. But I do believe if some one is trying to create a wrong impression about another person i a public forum like this we must speak.

http://lankaenews.com/English/news.php?id=13834

Hi,
This is my personal view.

I like to read history of above companies, what happened & what is hapening now. But, what can we get from these two characters Wayne & Shenani ? For me they are wasting our time & badly used this forum for mud sliding.

I like this forum.

You never sent me any doc proof, I requested via PM.

Wayne Abbott wrote:Shenani Perera is in denial and is trying to boost support to a Company that has illegally operated and is now clearly evident for all to see in which I have personally submitted many letters to the governing bodies of these criminals with no replies

@shehani

I don't mean what u say are false but there are not sufficient evidences to keep faith and it tend us to think that they mislead users.

Please provide factors for facts you state. Anyhow thanks for your contribution specially to understand the nature of Mr. Wayne.

I have few question to ask from you what will be very useful to everybody.

1. What was the incident happened and nature of connection between Wayne and CIFL?

2.Still the new investor of CIFL has not acquired its liabilities. Why?

This is a true story.

A Muslim person, a charted accountant, served in Middle East for  many years , came back and deposited million with CIFL .
I warned him 2 years ago, he never took it seriously. (By the way, I have no any big qualifications in  financial field. )
Now he is suffering.

That is not the story.  
His Sinhalese wife, a retired Audit Officer! has given all her money , some millions,  to Kanrich and she proudly says she will get very high return.

I discussed this at home.
My wife has called her and told her "Be careful. When Sakwithi was teaching English in TV , Chinwi branded him as a crook. No one believed at that time.
Then he warned XXX malli about GREG.  Remember ? he warned your husband about CIFL. Now he is not happy about your investment. Think  seriously.  I am sure he has developed some sort of power to see the future.!  "එයාට ඉස්සරහට වෙන දේවල් පේන මොකක් හරි බලයක් ඇති .!

My wife actually believes  I have some power to predict the future !    හිනා කාල මැරෙනවා

හැබැයි මහත්තයට උන දේම නෝනටත් උනොත් පවුම තමයි.  පවුලේ සේසතම ඉවරයි. කාටවත් කරදරයක් නැති අහින්සක මිනිස්සු .