CA Sri Lanka and AMBA to conduct valuation boot camp for capital market professionals The workshop which will be held on July 27-28 at the CA Sri Lanka headquarters will focus on best practices in relative valuation and absolute valuation including techni
In a dramatic turn of events in the collapsed Golden Key Credit Card Company saga, a group of disgruntled depositors are making valiant attempt to persuade former Ceylinco Chief Lalith Kotelawala, the main culprit in the drama, to make some commitments to repay their security deposits even after four years and six months have passed without any response from him.
They visited the residence of Mr. Kotelawala at Elibank Road, Bambalapitiya on Thursday, July 11th at 10 am to hand over a memorandum appealing to personally intervene in the settlement process of their dues as they believe that it is his obligation to alleviate sufferings of depositors who kept faith on him.
The group of around 20 depositors was received by the staff of Mr. Kotelawala allowing them to present their grievances in a peaceful environment for the first time at the latter’s residence. This time there was no protest demonstrations or chanting of abusive slogans by depositors like several previous occasions.
Although they were asked to take their seats at the verandah of his residence, Mr. Kotelawala did not come forward to face the depositors and instead sent his personnel coordinator and assistant A.Y.R. Alwis for discussions with them.
He told depositors that Mr. Kotelawala had asked him to inform them about his inability to meet and discuss the issue due to legal matters but that Mr. Kotelawala is willing to assist in the settlement process in a justifiable manner in accordance with the law of the country.
Disabled depositor and a former prison superintendent, S.J.M. Gunasekera handed over the memorandum to Mr. Alwis in the presence of President of the GK Depositors Hope and Solidarity Organisa-
The group of around 20 depositors was received by the staff of Mr. Kotelawala allowing them to present their grievances in a peaceful environment for the first time at the latter’s residence. This time there was no protest demonstrations or chanting of abusive slogans by depositors like several previous occasions.
tion Jude Marco Perera and his subordinate Malcolm De Silva and other depositors.
Mr. Perera told depositors that around 2000 depositors are out of the proposed action plan of the Central Bank and a sum of Rs. 1.2 million deposit value each of around 3000 depositors has been reduced to Rs.300,000.
He pointed out that there is a Rs. 3.3 billion loss for depositors due to wrong calculations and the CB’s plan of action will not be able to save a large majority of disgruntled depositors from the misery they are encountering at present.
He reminded the depositors that Mr. Kotelawala had promised to settle their money selling all his assets at a hurriedly convened meeting at BMICH in Colombo in December 2008.
The time it is now opportune to fullfil this pledge, he said adding that the new payment plan only provides benefits for a handful of elite depositors like the late H. K. Dharmadasa Navaloka Mudalali who had deposited massive amounts of money at high interest rates
The Institute of Chartered Accountants of Sri Lanka ( CA Sri Lanka) together with Amba Research Training will conduct a valuation boot camp covering global best practices in relative valuation and absolute valuation for the benefit of Sri Lankan capital market professionals later this month.
The workshop which will be held on July 27- 28 at the CA Sri Lanka headquarters will focus on best practices in relative valuation and absolute valuation including techniques used in sum- ofthe- parts ( SoTP) valuation which are relevant for professionals such as research analysts, research managers, and heads of research, investment analysts, portfolio managers, treasury analysts, corporate finance analysts and corporate finance managers.
During the workshop, participants will have the opportunity to deepen their understanding by using real life case studies, while also gaining insight into the application of valuation theory in a Sri Lankan context, according to a CA Sri Lanka media release.
The workshop will be conducted by a expert training panel from Amba Research including its Country Head and Director Chanakya Dissanayake, Senior Vice Presi- dent and Global Head of Training & Knowledge Management Aruna Perera, Vice President and Head of Training Sarah Yusuf and Vice President Asanka Herath, who will cover a thought provoking outline including multiple case studies of leading Sri Lankan companies including Odel, Laugfs holdings and AHPL.