The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Dividend Announcement
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyToday at 6:28 pm by කිත්සිරි ද සිල්වා

» Access Engineering AEL Technical Analysis
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyToday at 3:07 pm by NIRMALSG

» Thread for News on CSE and SL Economy
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyToday at 12:02 pm by NIRMALSG

» Trading Journal
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyYesterday at 10:05 pm by xmart

» Tourism sector
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyYesterday at 8:57 am by NIRMALSG

» Cricket, meet Capitalism
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jul 12, 2019 1:24 pm by කිත්සිරි ද සිල්වා

» LFIN - LB Finance
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jul 11, 2019 11:27 am by Ethical Trader

» අපි නොදන්න චෙස් කිව්වලු !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyTue Jul 09, 2019 6:25 pm by serene

» Stock Market to stay Bullish
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jul 08, 2019 7:51 am by කිත්සිරි ද සිල්වා

» Is an emoji a word or a gesture?
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jul 08, 2019 7:46 am by කිත්සිරි ද සිල්වා

»  Rajgama Heroes !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jul 08, 2019 7:39 am by කිත්සිරි ද සිල්වා

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySun Jul 07, 2019 12:25 pm by dhanurrox

» Checkmate, meatbags !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySun Jul 07, 2019 7:20 am by spw19721

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySat Jul 06, 2019 8:13 am by කිත්සිරි ද සිල්වා

» සංචාරක පැමිණීම ක්‍රමයෙන් යහපත් වන ලකුණු
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jul 05, 2019 6:11 pm by serene

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jul 04, 2019 8:55 am by serene

» Easter Sunday Attack and Sri Lanka
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jul 04, 2019 8:46 am by කිත්සිරි ද සිල්වා

» අනං මනං! #/+?.<>
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyWed Jul 03, 2019 10:07 pm by ruwan326

» First capital holdings
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyWed Jul 03, 2019 1:37 pm by serene

» What to Analyse
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jul 01, 2019 11:33 am by serene

» අනිසි ලෙස කොටස් මිල හැසිර වූ ආයෝජකයින් දෙදෙනෙකුට සුරැකුම්පත් කොමිසමෙන් නඩු
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 28, 2019 2:11 pm by Ethical Trader

» අද වෙන්දේසියේ දී බිල්පත් පොළිය පහළට.
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 28, 2019 7:46 am by serene

» AAIC.N0000
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 28, 2019 7:33 am by serene

» SERV - The Kingsbury
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 27, 2019 8:27 pm by ruwan326

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyWed Jun 26, 2019 2:22 pm by nuwanmja

» Life After Google
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyTue Jun 25, 2019 5:28 pm by කිත්සිරි ද සිල්වා

» S&P ශ්‍රී ලංකා 20 දර්ශකයේ වෙනසක්. CTC, NTB, රිචඩ් පීරිස් සහ ටෝක්යෝ සිමෙන්ති ඉවතට
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyTue Jun 25, 2019 6:37 am by nihal123

» Future of Tea Industry
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jun 24, 2019 6:54 pm by hammurabi

» Cricket !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jun 24, 2019 2:22 pm by කිත්සිරි ද සිල්වා

» DIPD.N0000 (Dipped Products)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jun 24, 2019 11:40 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySun Jun 23, 2019 9:14 pm by hammurabi

» මිල සූත්‍රය වැරදුණාද, වැරැද්දුවාද?
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 21, 2019 5:25 pm by Ethical Trader

» Happy Father's Day !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jun 17, 2019 8:58 pm by spw19721

» DPL.N0000 (Dankotuwa Porcelain PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySun Jun 16, 2019 7:12 am by NIRMALSG

» Re: Financial reports Q1-2019
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 14, 2019 8:57 pm by dhanurrox

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 8:11 pm by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 8:08 pm by ruwan326

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 8:06 pm by ruwan326

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 7:58 pm by ruwan326

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 7:57 pm by ruwan326

» HDFC.N0000 (HOUSING DEVELOPMENT FINANCE CORPORATION BANK OF SRI LANKA)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 7:48 pm by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 7:45 pm by ruwan326

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu Jun 13, 2019 7:43 pm by ruwan326

» Should CSE be like this? Whose FAULT is it?
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyWed Jun 12, 2019 5:21 pm by Yin-Yang

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyTue Jun 11, 2019 9:15 pm by ruwan326

» MCPL.N0000
Sri Lanka mulls 25-pct ownership limit in finance companies EmptySun Jun 09, 2019 12:15 pm by ruwan326

» LOFC Initiating Coverage - STRONG BUY - 29 03 17 - FC Research
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyFri Jun 07, 2019 5:42 am by stockback

» In the Meantime, Within Our Shores !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyMon Jun 03, 2019 2:14 pm by කිත්සිරි ද සිල්වා

» Tolerance at its Best !
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyThu May 30, 2019 10:50 am by Yin-Yang

» විශ‍්‍රාම ගැන්වීමේ වයස් සීමාව ඉහළ දැමීමට මහ බැංකුවෙන් යෝජනාවක්
Sri Lanka mulls 25-pct ownership limit in finance companies EmptyTue May 28, 2019 8:03 am by කිත්සිරි ද සිල්වා

July 2019
SunMonTueWedThuFriSat
 123456
78910111213
14151617181920
21222324252627
28293031   

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Sri Lanka mulls 25-pct ownership limit in finance companies

Go down

Sri Lanka mulls 25-pct ownership limit in finance companies Empty Sri Lanka mulls 25-pct ownership limit in finance companies

Post by Backstage on Fri May 17, 2019 3:40 pm

Sri Lanka mulls 25-pct ownership limit in finance companies
May 17, 2019 15:31 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT- Sri Lanka's central bank will be introducing a 25 percent ownership limit in licensed finance companies (LFCs) following stakeholder consultations on the plan.

"The master plan is intended to bring down the ownership limits to 25 percent within a timeframe of 5 years," Department of Non-Bank Financial Institutions Director W Ranaweera said.

Under special circumstances, ownership limits can be increased to 30 percent.

Planned sanctions for non-compliance will include suspension of business activities and cancellation of license.

"A consultation paper on introducing ownership limits of the LFCs has been drafted with a view to obtain stakeholder obeservations," Ranaweera said.

Those interested can submit views to the central bank until June 14.

The central bank said that a number of LFCs have failed and become almost bankrupt due to mismanagement, with influence of the main shareholder.

This has caused distress to many depositors, the regulator said.

Bad loans in LFCs reached 7.8 percent by end-December 2018, up from 6.31 percent a year earlier.

Currently, in 30 LFCs, more than 50 percent of shares are owned by the main shareholder.

In eight LFCs, more than 50 percent is owned by the main shareholder and related parties.

In two LFCs, ownership is limited to two shareholders.

Only three LFCs have diversified ownership.

However, some LFCs are fully owned by banks, and these would be exempt from the new direction, the central bank said.

Finance companies already in trouble and are being restructured will have to follow such plans instead of the 25 percent limit.

Subsidiaries of other LFCs will be required to merge by end-2020.

Already, banks in Sri Lanka have a shareholding limit of 10 percent, which could be increased to 15 percent with special approval. (Colombo/May17/2019)
Backstage
Backstage
Top contributor
Top contributor

Posts : 3411
Join date : 2014-02-24

Back to top Go down

Back to top


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