Hirunews Logo
HiruNews
HiruNews
HiruNews
It+is+revealed+that+Perpetual+Treasuries+earned+a+profit+of+5800+million+rupees+from+EPF
Wednesday, 28 June 2017 - 8:11
It is revealed that Perpetual Treasuries earned a profit of 5800 million rupees from EPF
37

Shares
4,473

Views
It was revealed at the Presidential Commission Investigating the Central Bonds Issuance that Perpetual Treasuries had earned a profit of 5800 million rupees in 2015 and 2016 alone from EPF.

That was when the Sri Lanka Central Bank Data System that automatically records bonds transactions was analysed before the commission.

Sri Lanka Central Bank Information Technology Division Additional Director   Wasantha Alwis gave evidence analyzing the Sri Lanka Central Bank Data System that automatically records bonds transactions.

Citing a transaction the Perpetual Treasuries  had  done in 2015 and 2016, the Additional Central Bank ICT director said that the EPF had sold  a Rs. 100 bond share for Rs. 110 and cents 56 to a primary dealer.

Subsequently Perpetual Treasuries had bought that share from the primary dealer for Rs. 110 and cents 60.

The witness said that the following day the relevant primary dealer had bought the share concerned again Rs. 119.

Subsequently  the EPF had bought the share concerned by making an extra payment of Rs. 8.94.

On this occasion  Supreme Court Judge Prasanna Jayawardhana said that  a primary dealer carries out such a transaction incurring a loss only if there is a dealer for purchasing the share.

The amount of extra money the EPF has paid in purchasing  the same bond  in this transaction is more than Rs. 216 million.

While the witness submitted  data relevant to a number of transactions ,  based on all these transactions the witness said that Perpetual Treasuries had earned a profit of Rs. 6 billion and 657 million from government institutions alone.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
Thursday, 16 August 2018 - 16:24
Mangroves play a critical role in maintaining the ecological balance in Sri Lanka's coastal areas.However, some money-hungry people do not understand this.Our... Read More
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
12 Views
HiruNews
HiruNews
HiruNews
3,673 Views
HiruNews
HiruNews
HiruNews
7,289 Views
HiruNews
HiruNews
HiruNews
19,007 Views
HiruNews
HiruNews
HiruNews
153 Views
HiruNews
HiruNews
HiruNews
48,286 Views
Top