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Horage Ammagen Peana Aheema - DJ Press Conference

2 posters

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kasun99


Stock Trader

Dear Users.

I am an investment advisor attached to a broker firm. Even though I don’t approve each and every decision made by the SEC/CSE, I am happy to say that my firm, my CEO or me are not a part of this “stock market mafia” I am proud of that and I don’t agree with what’s happening right now at the market.

A classmate of mine who is a journalist attached to a leading news paper had gone to the press conference organized by Dilith Jayaweera yesterday. At the conference he (DJ) had said that it is wrong for the SEC to send letters and create “fear psychosis” within investors. When a journalist questioned him further he had mentioned the SEC had leaked those information to the media (about investigations too) and created this. One journalist had said that it may be the people who received those letters who leaked these letters to media. DJ had said theoretically it can be.

The most interesting thing is that Nistar Cassim of Daily FT had been sitting there at the conference. Daily FT is the paper who first published that the SEC has sent letters and the SEC is creating a fear psychosis. Why didn’t Nistar C didn’t clarify it there, whether he got those things form the SEC or from investors. As a journalist he cannot give out names but at least he should have mentioned the party that he got this information. i.e from the SEC or investors. If it is from the SEC then the SEC or the government can take action against the person/s who leaked that information. If it is not true is it ethical to blame SEC for that?

The most interesting fact is that, Nistar C had tried to clarify/answer a question asked by a journalist from Dilith and the journalist had told Nisthar C that “ who are you to answer the question, I asked it from Dilith, you are a media man like us ” and Nisthar C had kept quiet. Other people had laughed out

Now we know who is doing what and these things will confirm all those stories going around

If someone has contacts with FT please ask them to clarify this. How he got those information. From the SEC or not. Then we will have a clear picture

DUWI


Senior Equity Analytic
Senior Equity Analytic

The DM-FT certainly seems to have something against the SEC - carrying headlines such as "TGIF (Thank God its Friday) for Thilak" (17 August 2012) and "Thilak Talks His Way Out of SEC" (18 August 2012). Sad to see the only financial newspaper in Sri Lanka taking sides. This is not good. May be the Regulator too has made mistakes in the form of implying that a Mafia operates at the CSE and it is riven with manipulators. However, what is needed now is a level headed person to head the SEC and diffuse the tension and focus on development of the Capital Markets.

The fact is that, if not for the CSE, companies such as John Keells Holdings would not have grown so fast over the last 15 years. JKH has used the CSE to astutely raise capital to fund its expansion. It raised USD 44 million in 1994 via a GDR and Rights Issue made on the CSE, which enabled JKH to undertake such large infrastructure projects such as the SAGT (South Asia Gateway Terminals).

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