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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Proposed Shareholders’ Association to meet on Aug. 20

Proposed Shareholders’ Association to meet on Aug. 20

+2
K.Haputantri
Redbulls
6 posters

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

The next meeting of the general body of the proposed Shareholders Association of Sri Lanka which would campaign and safeguard the rights of independent, minority shareholders is scheduled for Monday, August 20 at the OPA, it was decided this week.

The core group of the association comprising K.C. Vignarajah, Ravi Rajapathirana, Mohamed Mohideen, Udaya de Silva, Chaturanga Perera, Deepthi Amunugama, Ranjith Selliah and Nihal Perera decided to summon the general body meeting next month as the structure of a formal association is close to being finalized.

Tissa Seneviratne, another member of the association was not present. The meetings are initially being facilitated by the Business Times (BT). The core group was set up to formulate a structure and constitution of the association. The vision/mission, objectives, criteria for membership, name of the association and funding options were discussed at length and decisions taken which would be presented at the meeting of the general body. While no members have been formally appointed and would take place only after the next meeting of the general body, those interested in joining the association are welcome to attend the next meeting in August and can send their names/confirmation to bt@sundaytimes.wnl.lk. Brief details of the structure and proposed constitution would be published in the BT on August 19.
http://www.sundaytimes.lk/120722/business-times/proposed-shareholders-association-to-meet-on-aug-20-6445.html

K.Haputantri

K.Haputantri
Co-Admin

Publication of constitution on 19th Augest and the meeting on 20th August. ?Why are they in such a hurry. At least 14 days time is normally given to study such important documents.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

@K.Haputantri wrote:Publication of constitution on 19th Augest and the meeting on 20th August. ?Why are they in such a hurry. At least 14 days time is normally given to study such important documents.
Now all wants to match and or to emulate " Maggi Noodles " concept. Very Happy

sriranga

sriranga
Co-Admin

To refresh
http://forum.srilankaequity.com/t19624-sec-backs-proposed-association-for-independent-minority-shareholders?highlight=association

http://sharemarket-srilanka.blogspot.co.uk/

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics



Can this association prove to be a force to be reckoned with. If they can get to stage they can influence the SEC/CDS , GOVN about retailer worries and their rights , it will be a major victory. Anyway good luck to all who iniated this. Please do nto make this polical association also but a genuine one to voice retailer voes.

K.Haputantri

K.Haputantri
Co-Admin

I see a name of a lady closely connected to DJ among the initial crowd. Your guess is as good as mine.

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

As you may know trade unions supposed to be protecting the workers is a mafia with another name. Just as politicians, union leaders take control of the fellow workers. For example union leaders can be payed to make protest or strike for some cause or made to stop any worker protests. To give you an example in Bangladesh (not in Sri Lanka) Union leader got Rs. 1 (when it was under Rs. 5) from each loaf of bread supplied to the ports authority or harbor in Bangladesh. Imagine the number of loafs of bread needed in for Colombo oops I mean Bangladesh ports authority. Likewise for everything they get a 10% either it's a shovel of sand in the construction related industry or a saline bottle in health department or a paper packet in office. I'm not talking about politicians here I'm talking about the people who come with university degrees such as doctors, lawyers, management, public administration officials. If you take the Unions leaders they are like customs officers (again in Bangladesh) they have huge mansions, estates, condominiums shopping malls. And they are very generous in hosting parties and throwing out some money to their friends. These things happens from the university days where these union leaders take control of the rest of the students. Then the students then the workers become slaves.
In CSE the same thing would happen unless people shout, protest, talk in the open not among in whispers. Otherwise those leaders of association will carry on the high net worth ctriminals' bidding.
The most dangerous thing would be this could suppress the retailer's true voice completely because now it's represented by this association. So if all the people give their opinion, shout and protest then it would work. Otherwise if the retailers let this association heads runs the show the same thing will happen as in Sri Lankan trade unions or universities.
But I'm pessimistic. Those union leaders type will run the show the way the criminals want them to. Read the "who runs Sri Lanka" post by wis below.

K.Haputantri

K.Haputantri
Co-Admin

Don't be so pessumistic friend. I think we all should attend the initial meeting of shareholders to be held on 20th August at OPA office, Colombo 7. It was reported that the draft constitution will be published by Sunday Times on 19th August.

Only way-out to guide the association on the proper track is to actively participate in its affairs from the very first day itself.

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Usually when you have something like this the people who would probably get elected are preannounced with a profile of who they are or will it be some people who 99% wouldn't know would elect some people they don't now anything about? For example if these listed people are going to represent the minority shouldn't we know who they are, who their aunt and uncle and nephew. what they did, what they do now?
So I think somebody should give a complete profile of the 'core group' so people be prepared and know beforehand.

I would like to add a BIG thank you to Sunday Times for helping out forming a front for minority shareholders.

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