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Ray of hope for Colombo Stock market

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Ray of hope for Colombo Stock market

Post by Quibit on Sat May 06, 2017 4:07 pm

The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Ray Abeywardena as the Chairman of the Board of Directors of the CSE with effect from 5th May 2017.
Abeywardena succeeds Vajira Kulatilaka, who steps down as the Chairman on the conclusion of the customary three year term.

Ray Abeywardena is the Managing Director of Acuity Partners (Pvt) Ltd and has over 30 years of extensive experience in the Sri Lankan Capital Market, primarily as a Stock Broker and since 2009 as an Investment Banker.

Having begun his career as a Trainee Stock Broker in 1986 at Forbes & Walker Ltd, he progressively moved up the corporate ladder and was appointed as the Managing Director of the firm in 1998.
In 2001, he was instrumental in setting up DFCC Stockbrokers (Pvt) Ltd and served as Managing Director/CEO of the Firm.
With the formation of Acuity Partners (Pvt) Ltd in 2009, he was appointed CEO of the Firm and since 2012 serves as the Managing Director.
Abeywardena has participated in many Investment Forums both locally and internationally and has served on various sub-committees of the Colombo Stock Exchange. He was appointed to the Board of Directors of the Colombo Stock Exchange in 2013 and presently serves on the sub-committees pertaining to Market Development, Risk & Audit and Rules. He is also a past Chairman of the Colombo Stock Brokers Association.

Abeywardena is presently the Chairman of Acuity Stockbrokers (Pvt) Ltd and Acuity Securities Ltd. He also serves as a Director on the Boards of Lanka Ventures PLC, Soft Logic Life Insurance PLC, Guardian Acuity Asset Management Ltd, LVL Energy Fund Ltd and the Central Depository Systems (Pvt) Ltd.
Abeywardena is a member of the Chartered Institute of Marketing (UK) and holds a Master’s Degree in Business Administration from the University of Wales.
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Re: Ray of hope for Colombo Stock market

Post by Yahapalanaya on Sun May 07, 2017 12:08 am

Welcome Quibits posittive comments atleast now.
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Re: Ray of hope for Colombo Stock market

Post by Ryan Hudson on Sun May 07, 2017 8:29 am

TPG turns away from Sri Lanka state airline as political instability mounts

 TPG, a US based private equity firm that was in talks to invest in state-run SriLankan Airlines had decided not to invest in the loss-making carrier as they have better things to do with their money.

"…[R]egrettably, TPG have informed us hey will not pursue a potential investment in Sri Lankan Airlines," Chairman Ajit Dias told staff in a memorandum seen by EconomyNext.
"It is their opinion that allocating the human and financial resources to make the airline profitable will not realize sufficient returns, compared to the many other new investment opportunities that are available to them."
Dias told staff that the Sri Lanka government is "pursuing other options in finding a partner" and staff to make efforts to improve performance.
SriLankan Airlines had suffered heavy losses about a billion US dollars in losses after ex-President Mahinda Rajapaksa terminated a deal with then managing shareholder Emirates over a tiff involving bumping paying passengers to accommodate a presidential entourage.
A new administration that came into power in 2015, changed the board and sacked ex-President Rajapaksa's brother-in-law as chairman amid allegations of mis-management and fraud.
SriLankan has continued to make losses despite low fuel prices and growing tourist arrivals though some excess costs have been trimmed by new management. 

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Re: Ray of hope for Colombo Stock market

Post by Ryan Hudson on Sun May 07, 2017 8:32 am

[size=32]Rs. 330 mn for vehicles of Ministers and two officials while fools like yahapalana go shopping for pissu my3 and ranil[/size]
2017-05-06 11:05:11
 15
 6203

     


The government yesterday sought parliamentary approval for a supplementary estimate to cover Rs. 330 million for the purchase of vehicles for three cabinet ministers, three state ministers, a Provincial Governor and a Secretary to the Prime Minister.
Among them, Rs. 43 million is for the purchase of a vehicle for Foreign Employment Minister Thalatha Athukorala, another Rs. 42 million for Provincial Councils and Local Government Minister Faiszer Musthapha and Rs. 43 million for National Co-Existence, Dialogue and official Language Minister Mano Ganesan.
A further Rs. 43.7 million has been allocated for the purchase of a vehicle for city planning and water supply State Minister Sudarshani Fernandopulle, Rs. 43 million for Fisheries and Aquatic Resources Development State Minister Dilip Wedaarachchi and the balance payment of Rs. 29 million for the purchase of a vehicle for Skills development and vocational training State Minister Palitha Range Bandara.
Meanwhile, Rs. 43 million has been allocated for the purchase of a vehicle for Eastern Provincial Council Governor Austin Fernando and another Rs. 43 million to purchase a vehicle for the use of Secretary (Parliamentary Affairs) to the Prime Minister’s office.
The estimate also sought approval to cover foreign travel expenses of Foreign Affairs Ministry and Telecommunication and Digital Infrastructure Ministry amounting Rs. 23.6 million and Rs. 0.9 million respectively.
A supplementary allocation of Rs. 10 million was also sought for the Expenditure on repairs and maintenance of official residence of Provincial Councils and Local Government Minister Faiszer Musthapha. (Ajith Siriwardana)

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