Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» REEF possible run.
by hammurabi Today at 6:50 am

» Economic Health of Sri Lanka
by God Father Today at 6:24 am

» EAST INTERESTING DAYS AHEAD 25+
by glad Yesterday at 10:40 am

» Weekly Stock Market Roundup
by Insights Equity Yesterday at 8:35 am

» What is going on with TFC.N0000
by Gihan04 Yesterday at 12:42 am

» Would CIC make an upward move in the coming weeks?
by hammurabi Yesterday at 12:39 am

» Why AAIC Should trade above RS.50/-
by wisdom79 Thu Apr 18, 2019 8:08 pm

» Daily Stock Market Update
by Insights Equity Thu Apr 18, 2019 6:17 pm

» SME M&A opportunity
by raheem72@gmail.com Thu Apr 18, 2019 1:21 pm

» Sri Lanka Hilton Hotels Must Investigate or Oust Unfit and Improper - Kashmi App Bankrupted Sanjiv Alles who hides about his Career in Kashmi for Colombo Hilton Hotel Director Profile
by AmalHoole Thu Apr 18, 2019 12:47 pm

» Why ALHP is having a huge demand despite consecutive losses?
by wisdom79 Thu Apr 18, 2019 11:03 am

» TIME TO LOOK AEL
by sanjulanka Wed Apr 17, 2019 6:42 pm

» HEXP next run up to 120-130
by nishjaya Wed Apr 17, 2019 12:21 pm

» Cabinet nod for Colombo Stock Exchange to be converted to a company limited by shares
by glad Wed Apr 17, 2019 9:30 am

» Lanka Bell to be acquired by Mobitel - Sources
by soileconomy Wed Apr 17, 2019 7:07 am

» Sri Lanka Watapota (WAPO) Guardian Capital lose Rs. 10 Mn of Funds because of Kashmi App Closed down, Kashmi Co-Founder Bankrupt Sanjiv Alles now landed on Hilton Colombo Director Board owned by Yahapalana Government
by AmalHoole Tue Apr 16, 2019 3:17 pm

» Sri Lanka Kattadiyalage Wegapitiya tries to manipulate Household Gas prices in Gas market, Wegapitiya lead LAUGFS Gas in a secret Deal to Bankrupt Government's Litro Gas by affecting 1.3 Million Households and 5 million people in the country
by AmalHoole Tue Apr 16, 2019 3:09 pm

» සුභ අලුත් අවුරුද්දක් වේවා.
by sanjulanka Mon Apr 15, 2019 12:38 pm

» I bought PCHH.N and SING.N sometimes back?
by hammurabi Mon Apr 15, 2019 12:14 pm

» Highest temperature hike after 128 years in sri lanka
by nimantha80 Sun Apr 14, 2019 4:47 pm

» DEBTS FREE AAIC MUST MOVE UP,3.36BN FROFIT, MARCH Q 1.00BN
by wisdom79 Sun Apr 14, 2019 8:15 am

» VONE , is it time to sell or holds
by Uaecoindubai Sat Apr 13, 2019 1:27 pm

» HVA WILL THEY RECTIFY THE REGULATORS QUARIES BEFORE DEAD LINE?
by nimantha80 Fri Apr 12, 2019 3:12 pm

» NDB Leasing Centers open at Gampaha, Negombo
by Uaecoindubai Thu Apr 11, 2019 8:17 pm

» BFN බොරු සෙලින් දාලා කොහොම හරි 11 වගේ ගානට 500000 එකතු කරගන්න කියලා අර 14 ට ලක්ශයක් සෙලින් දැම්මේ මේ ටේලර් මහත්තයාම තමයි
by dmtmadusanka Thu Apr 11, 2019 8:15 pm

» I met Karuna Today.
by Uaecoindubai Thu Apr 11, 2019 8:15 pm

» Look APLA its trending to 98LKR
by Uaecoindubai Thu Apr 11, 2019 8:13 pm

» ROYAL CERAMIC (RCL)
by Yahapalanaya Thu Apr 11, 2019 8:11 pm

» Look BPPL company
by Uaecoindubai Thu Apr 11, 2019 10:10 am

» PABC.N0000 ? Will come down to Rs. 11 - 12 level?
by Uaecoindubai Wed Apr 10, 2019 5:13 pm

» Any news on MBSL.N0000
by Uaecoindubai Wed Apr 10, 2019 4:56 pm

» New NDB Privilege Banking and Leasing Centres open in Kurunegala
by Soilconomy Wed Apr 10, 2019 11:30 am

» TIME TO WATCH - LOFC - BFN
by Uaecoindubai Wed Apr 10, 2019 11:20 am

» ශ්‍රිලංකාවේ ණය බරතාවය. Sri Lanka's Debt Trap
by soileconomy Wed Apr 10, 2019 7:28 am

» 2019 revised traffic fines
by Uaecoindubai Tue Apr 09, 2019 12:47 pm

» LLUB Surprise
by hammurabi Mon Apr 08, 2019 9:29 pm

» MARKET CRASH - GUARANTEED
by Uaecoindubai Mon Apr 08, 2019 5:11 pm

» Just 2% of investors control 95.7% of the stock market
by sanjulanka Mon Apr 08, 2019 8:47 am

» Lofc delisting??
by sanjulanka Mon Apr 08, 2019 8:17 am

» watch UBC -LDEV - BALA - LOFC
by karuna2 Mon Apr 08, 2019 7:43 am

» CHECK YOUR SELL ORDERS - BULLS ARE READY
by karuna2 Mon Apr 08, 2019 7:43 am

» REXP***REXP***REXP***REXP
by Uaecoindubai Sun Apr 07, 2019 11:20 pm

» Sena Yaddehige charged with insider dealing by Sri Lanka regulator
by Uaecoindubai Sun Apr 07, 2019 4:36 pm

» SOFT LOGIC TO BUY BFN ?????????
by Uaecoindubai Sun Apr 07, 2019 1:55 pm

» WHERE IS TELLER........market down.......ASI 5700...
by Uaecoindubai Sat Apr 06, 2019 2:43 pm

» GRAN VS TELLER
by Uaecoindubai Sat Apr 06, 2019 2:41 pm

» Our forum moderator Teller narrowly missed the year 2018 Nobel Prize for economics science to a pair of American economists, William D. Nordhaus and Paul M. Romer
by Uaecoindubai Sat Apr 06, 2019 2:35 pm

» BALA IS WARMING UP
by Uaecoindubai Sat Apr 06, 2019 10:38 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » DON'T BUY ABANS FINANCE SHARES

DON'T BUY ABANS FINANCE SHARES

Go down  Message [Page 1 of 1]

1DON'T BUY ABANS FINANCE SHARES Empty DON'T BUY ABANS FINANCE SHARES on Wed Sep 06, 2017 6:57 pm

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
-I am a longtime investor in the stock market and was holding on to 10,000 shares in Abans Finance and the marker value of same was Rs 699,000.00 by end September 2016.

-When a proposal was made to issue 20% to a Company owned by a Director of Abans PLC @ Rs 25.00 with no experience in the Financial Services Sector (1.4 times book value), I objected and wanted the shares to the existing Share holders first and then to the Director. A number of share holders walked out of the EGM in protest of this manipulation.



-Since then the performance of the Company has declined and the share is now trading at Rs 25.00 and the value of my investment is Rs 250,000.00 a loss of Rs 469, 000.00.(67 %).



-Abans Finance also had a rights  issue subsequently and the Abans sold their rights to the same Director.




-Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is now trying  to sell shares  @ Rs 25.00 to meet the manipulated public float requirements.

-Able Investment (Private) Limited, A B Cold Storage ( Private) Limited, Cleantech ( Pvt ) Ltd and Cleantech ( Pvt ) Ltd are connected parties to Abans PLC and Mr.K.Kunenthiran, Mrs.C.V.Sumanadasa and Mrs.S.C.Henagama Gamage are proxy employees holding shares. Mr.P.N.Pestonjee, Mr.B.Pestonjee, Mr.R.Pestonjeen ,Mrs S.Dubash and Mrs.A.Pestonjee are Directors of Abans PLC.As such the shares owned by them should not be counted under “Public Float”. They have fraudulently manipulated the public float ration to cheat CSE and SEC.



Last edited by Wimal Modawansa on Wed Sep 06, 2017 7:08 pm; edited 1 time in total (Reason for editing : update)

2DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Wed Sep 06, 2017 7:00 pm

ddrperera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Wimal Modawansa wrote:I am a longtime investor in the stock market and was holding on to 10,000 shares in Abans Finance and the marker value of same was Rs 699,000.00 by end September 2016.

When a proposal was made to issue 20% to a Company owned by a Director of Abans PLC @ Rs 25.00 with no experience in the Financial Services Sector (1.4 times book value), I objected and wanted the shares to the existing Share holders first and then to the Director. A number of share holders walked out of the EGM in protest of this manipulation.



Since then the performance of the Company has declined and the share is now trading at Rs 25.00 and the value of my investment is Rs 250,000.00 a loss of Rs 469, 000.00.(67 %).



Abans Finance also had a rights  issue subsequently and the Abans sold their rights to the same Director.




 



Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is now trying  to sell shares  @ Rs 25.00.


Don't Trust on parent company's  Finance except of leading Banking's Finance.... Smile Smile

3DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Wed Sep 06, 2017 7:17 pm

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
-Abans PLC , the parent Company which is now in financial difficulties also has lost Rs 1.3 Bn on this investment is now trying  to sell shares  @ Rs 25.00 to meet the manipulated public float requirements.

-Able Investment (Private) Limited, A B Cold Storage ( Private) Limited and Cleantech ( Pvt ) Ltd are connected parties to Abans PLC and Mr.K.Kunenthiran, Mrs.C.V.Sumanadasa and Mrs.S.C.Henagama Gamage are proxy employees holding shares. Mr.P.N.Pestonjee, Mr.B.Pestonjee, Mr.R.Pestonjeen ,Mrs S.Dubash and Mrs.A.Pestonjee are Directors of Abans PLC.As such the shares owned by them should not be counted under “Public Float”. They have fraudulently manipulated the public float ratio to cheat CSE and SEC.

4DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Wed Sep 06, 2017 7:37 pm

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
- 44 trades totaling 2441 shares  average of 55 shares per trade - Suspicious!

-Who is cheating whom?

Is it possible to get call  logs of Directors and check for insider information?

5DON'T BUY ABANS FINANCE SHARES Empty Changes at Abans Finance PLC on Fri Sep 08, 2017 11:15 am

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
Managing Director of Abans Finance Mr Wanigasekera submits his resignation.

Chief Operating Officer Mr Fernando requested to submit his resignation due to increasing bad loans.


Suspected Exchange control defaulter to be appointed as managing director?

Share price drops to Rs 25.10.

6DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Fri Sep 08, 2017 12:31 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Wimal Modawansa wrote:  I am a longtime investor in the stock market and was holding on to 10,000 shares in Abans Finance and the marker value of same was Rs 699,000.00 by end September 2016.

Company has declined and the share is now trading at Rs 25.00 and the value of my investment is Rs 250,000.00.    
A  loss of Rs 469, 000.00.(67 %).


Then you changed your name to  'Wimal Modawansa'  ?

7DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Fri Sep 08, 2017 12:53 pm

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
Managing Director of Abans Finance Mr Wanigasekera submits his resignation.

Chief Operating Officer Mr Fernando requested to submit his resignation due to increasing bad loans.


Suspected Exchange control defaulter to be appointed as managing director?

Share price drops to Rs 25.00.

8DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Fri Sep 08, 2017 2:57 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Many finance companies are struggling to survive except few. Good example is BFN among many...

9DON'T BUY ABANS FINANCE SHARES Empty Re: DON'T BUY ABANS FINANCE SHARES on Sat Sep 09, 2017 3:43 pm

Wimal Modawansa

Wimal Modawansa
Manager - Equity Analytics
Manager - Equity Analytics
In Sri Lanka there is no justice to minor shareholders. Justice make with money and justice in the hand of company owners. SEC is saving these thieves then go island wide to feed them. The main purpose of SEC is not to promote shares by seminars. They need to promote by making safeguard and make things visible to all the parties.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum