Mystery Unresolved

Smallville,

1. Personally I held 20% of Shares of CIFL. And Aspic Corporation Held the largest Stake of the Company. But I am not a director of CIFL. But as the Largest Stake holder I watched the Company closely and had many discussion with the Management. CIFL was operating and functioning properly up until 2012, January until the CBSL imposed deposit mobilizing Ban on them. I am not intending many comments about this because of many legal issues and court cases. When i comes to Rates, CIFL was not the only company offer higher rates. Even as at today many companies are offering the Same. But we must also factor the incidents that happen in 2008-2009 crisis. I remember there was withdrawals amounting to more than 600 million. That was more than double of the reserves company had. Some how CIFL managed to come back to Business, It took almost 2 years for the Revival, but as a company faced severe financial crisis it wont be able to perform as normal finance Company. I am not justifying what has happen, but reasoning out. You could understand if 20% depositors demands Deposits any fiance company it could go for a six.

2. In My opinion Touch wood and Mr. Maloney also in severe financial trouble at the Same time. And they are no more capable of the capital Infusion.

Deepthi_Perera1971 wrote:Smallville,

1. Personally I held 20% of Shares of CIFL. And Aspic Corporation Held the largest Stake of the Company. But I am not a director of CIFL. But as the Largest Stake holder I watched the Company closely and had many discussion with the Management. CIFL was operating and functioning properly up until 2012, January until the CBSL imposed deposit mobilizing Ban on them. I am not intending many comments about this because of many legal issues and court cases. When i comes to Rates, CIFL was not the only company offer higher rates. Even as at today many companies are offering the Same. But we must also factor the incidents that happen in 2008-2009 crisis. I remember there was withdrawals amounting to more than 600 million. That was more than double of the reserves company had. Some how CIFL managed to come back to Business, It took almost 2 years for the Revival, but as a company faced severe financial crisis it wont be able to perform as  normal finance Company. I am not justifying what has happen, but reasoning out. You could understand if 20% depositors demands Deposits any fiance company it could go for a six.

2. In My opinion Touch wood and Mr. Maloney also in severe financial trouble at the Same time. And they are no more capable of the capital Infusion.

1) I Get it.. It can happen but at the same time, management would be too cautious if company is sinking.. And if few top ppl leave, ppl would even sense something.. U talk about a financial crisis.. What I ask is how it happened under a knowledgeable management team?

2) Maloney sold many TWOD shares, do u know whether he bought another farm or something in Thailand with that money then?

Hi Smallville

1. I am talking about the Crisis happen in 2007-08 at that time CIFL had invested Money in Asian Finance and Swarnamahal Financial Services about 300 Million. Both the Companies failed to pay CIFL back when we requested. I know a knowledgeable management team would have mitigated the crisis, as I said i am not justifying what has happened, But just explaining the circumstances.

2. I am sorry I don't Know about what Mr. Maloney did with the Sales Proceedings.

some people say the lands you bought under ASPIC been sold out to CIFL to high prices.is it true.

Chami,

Aspic never received any financial Consideration for any lands they have purchased or Sold to CIFL. there could be technical transactions between two companies to structure balance Sheet of the Company. But other than that Aspic Never received any Financial Considerations.

Deepthi_Perera1971 wrote:
2. In My opinion Touch wood and Mr. Maloney also in severe financial trouble at the Same time. And they are no more capable of the capital Infusion.

You are saying he is in severe financial trouble, but see the below link and go through the TWOD trading before the right issue, how he sucked the retailers. Where he reinvested no one knows but you know very well, come on and tell the truth.

http://sharemarket-srilanka.blogspot.co.uk/2013/09/touchwood-investment-plc-at-glance.html

Seems to be you are also one of the partner or respected employ with him right now.
http://touchwoodinvest.com/touchwood_cambodia.html

Deepthi did you receive my PM?

Hi Sri,

I replied to you

Deepthi_Perera1971 wrote:Hi Sri,

I replied to you

Thanks and replied to you.

sriranga wrote:

Deepthi_Perera1971 wrote:Hi Sri,

I replied to you

Thanks and replied to you.

Thanks, Pls check your Inbox

Deepthi,

There are manything written about Maloney in this forum and elsewhere. What is your personal opinion about him as you have done some business transaction with him previously. How you trust him as a business associate.

Deepthi,
01. What do think about TWOD & CIFL future? Are both can survive in sri lanka or both collaps? Required clear answer.

02. What do you think about TWOD shares trading pattern in last few days. (25 Mn, 26 Mn, 48 Mn , 35 Mn).

To Be honest, He have not done anything wrong to me. But his associates and staff are not genuine in my opinion. The little i work with him, he showed some honesty. But i also witnessed many people let him down in their commitments towards him. That resulted a failure to meet the obligations. I don,t know about 'the accuracy of all the comments, but for me He is a good Person.

Market.Player wrote:Deepthi,
01. What do think about TWOD & CIFL future? Are both can survive in sri lanka or both collaps? Required clear answer.

02. What do you think about TWOD shares trading pattern in last few days. (25 Mn, 26 Mn, 48 Mn , 35 Mn).

01. from the outset Touchwood has large asset base and a solid background. It faces a major cash flow issue i believe this is due to low confidence in the market. Which needs to be changed, it can be done only by bringing in Highly professional and respected people to the Board. And CIFL case is the Same, I feel if these could be merged or some joint operations together can make a big difference, But what i see is lack of commitment from people involve in the matters. Falling companies is not a abnormal scenario it happens all over the world, but every time people fight back, get together they make changes, which is the need at the moment. Unfortunalty that is what lacking at the moment, but in opinion both can survive

02. Simple, Some on making money from the volatility on the Board and management changes.

Market.Player wrote:Deepthi,
01. What do think about TWOD & CIFL future? Are both can survive in sri lanka or both collaps? Required clear answer.

02. What do you think about TWOD shares trading pattern in last few days. (25 Mn, 26 Mn, 48 Mn , 35 Mn).

01. from the outset Touchwood has large asset base and a solid background. It faces a major cash flow issue i believe this is due to low confidence in the market. Which needs to be changed, it can be done only by bringing in Highly professional and respected people to the Board. And CIFL case is the Same, I feel if these could be merged or some joint operations together can make a big difference, But what i see is lack of commitment from people involve in the matters. Falling companies is not a abnormal scenario it happens all over the world, but every time people fight back, get together they make changes, which is the  need at the moment. Unfortunalty that is what lacking at the moment, but in opinion both can survive

02. Simple, Some on making money from the volatility on the Board and management changes.

What do you think, Government MP's come to TWOD Board. Is this Good sign to TWOD or not?

Deepthi_Perera1971 wrote:To Be honest, He have not done anything wrong to me. But his associates and staff are not genuine in my opinion. The little i work with him, he showed some honesty. But i also witnessed many people let him down in their commitments towards him. That resulted a failure to meet the obligations. I don,t know about 'the accuracy of all the comments, but for me He is a good Person.

Thank you very much for your honest and diplomatic response.

However, given his experience and knowledge, it is difficult to believe someone of Maloney’s caliber could be cheated easily. Why do you think so his staff have cheated (= not genuine) on him, especially when others think he is the mastermind who had run away after cheating many.

Market.Player wrote:What do you think, Government MP's come to TWOD Board. Is this Good sign to TWOD or not?

Personally I feel a PLC has to be cleaner and less politicized. If i was saving the company i would look for different options.

sadikeen wrote:

Deepthi_Perera1971 wrote:To Be honest, He have not done anything wrong to me. But his associates and staff are not genuine in my opinion. The little i work with him, he showed some honesty. But i also witnessed many people let him down in their commitments towards him. That resulted a failure to meet the obligations. I don,t know about 'the accuracy of all the comments, but for me He is a good Person.

Thank you very much for your honest and diplomatic response.

However, given his experience and knowledge, it is difficult to believe someone of Maloney’s caliber could be cheated easily.  Why do you think so his staff have cheated (= not genuine) on him, especially when others think he is the mastermind who had run away after cheating many.    

The general norm is if some one leave the country during a crisis is " Fled the country" people wants the directors or chairman's to remain in the country, and they wants solutions as well, Some times you need to travel meet people get help to sort out matters. So its early to comment like that. In many instances when i asked him about the issue he sincerely want to sort it out. I am not the best person to comment because my knowledge is less on the whole scenario. But what i realize for the little time i work with touch-wood was that the most senior employees were riding one directors back and often passing responsibilities to others. As i explain in other posts I never saw that commitment to salvage. I think its a dark scenario when it comes to crisis management.

16:40:38

Deepthi_Perera1971 wrote:

Market.Player wrote:What do you think, Government MP's come to TWOD Board. Is this Good sign to TWOD or not?

Personally I feel a PLC has to be cleaner and less politicized. If i was saving the company i would look for different options.

So u suspect political drama to happen behind the MP's induction?

Having read the entire thread very carefully, following are my impression on the former boss of CIFL PLC as follows :
The ex captain of CIFL knew and still knows what he was and is up to. Throughout the last three years time frame, we have experienced many man made setbacks along with the financial and the gold crunch at CSE and that has caused the tumbling of our bourse as a result of so called domino effect.
Knowing the fact that TWOD was getting into the spiral of asset valuation crisis, accepting TWOD bailout makes DEE|PER a boss without integrity. ROS|MAL in the other hand was disposing his quantity by using the technique called pumping and dumping at off stream. The duo seem did not and still do not care or understand the long tradition of corporate responsibilities towards stake holders.
With a new vision and mission, the both equities still got long term potentials in sector wise whatever the snapshot it has got now ..

Personally I think Some Outside party is trying to Acquire TWOD & CIFL now. CIFL having a Licence. TWOD having Assets(But dought).
I think this known by some parties & they are playing with shares. Otherwise, it cant be trade this much of shares with upside pattern.
What do you think?

smallville wrote:16:40:38

Deepthi_Perera1971 wrote:

Market.Player wrote:What do you think, Government MP's come to TWOD Board. Is this Good sign to TWOD or not?

Personally I feel a PLC has to be cleaner and less politicized. If i was saving the company i would look for different options.

So u suspect  political drama to happen behind the MP's induction?

Could some Un-Due Influances

Market.Player wrote:Personally I think Some Outside party is trying to Acquire TWOD & CIFL now. CIFL having a Licence. TWOD having Assets(But dought).
I think this known by some parties & they are playing with shares. Otherwise, it cant be trade this much of shares with upside pattern.
What do you think?

Dont you think this could be a simple ,manipulation too. 'Last few years i notice that Investors buy when they feel, not when they understand. and some gain on this weakness.

Deepthi_Perera1971 wrote:  'Last few years i notice that Investors buy when they feel, not when they understand.

I like that comment.

Mr Deepthi..

Someone somewhere had told that the reason for CIFL crisis is investments in real estates.(To be specific purchase of lands in a foreign country) This had eaten the liquidity of the company. Is it true???

Hello Mr. Deepthi why did you sell your stake of CIFL.

[quote="Leon"]Mr Deepthi..

Someone somewhere had told that the reason for CIFL crisis is investments in real estates.(To be specific purchase of lands in a foreign country) This had eaten the liquidity of the company. Is it true???[/quote

Hi Leon,

No I can confirm there were No Foreign land purchase from CIFL. Thats a false information. But i understand the real estate investments are high in the company. And that creates a nin interest bearing assets which is the key issue to the problem.

m2_yapa wrote:Hello Mr. Deepthi why did you sell your stake of CIFL.

Hello Mr. Yapa,

There were two occasions that I have sold my Shares. Once it was a Margin call by CT. that was in late 2012. Then I sold the rest of my shares somewhere mid January 2013 when i got to know the regulators involvement. But for your Information I never traded CIFL share. Since IPO till 2012 August I haven't sold a single Share. I only purchased. But when I realized the regulators involvement I thought its the best that I exit. But Aspic Corporations Share were sold after I transfer the Company, in January 2013. Which was beyond My control.

CIFL was something I was really passionate about, there were many offers came in the Past which I declined. the reason was the believe that we all had about this Company. If you look in to the Company's affairs in more bold and closer manner, IF CIFL faced liquidity Crisis in 2008, they have to stop their Lending Activities. So when were they commenced the Lending? So during this Period what was the position of the P&L of the Company. IS it showing a Loss, if yes is there a Loss in the balance Sheet now? If the answer is NO, Where is it then? As the Largest Share Holder I was concern about the Status of the Company. But what was to be done and what was our action? Only way was to increase the lending in a drastic manner to change the P&L which the directors Clearly Understood and CIFL was on a turning around Path. But few people acted in a manner where they couldn't See the Growth of this Company. Unfortunately i cant explain all of it in this public forum,