Japanese investor whose stock purchase was reversed meets PM: report

ECONOMYNEXT  – A Japanese investor whose purchase of shares of Seylan Bank from a state-run lender was reversed had met Prime Minister Ranil Wickremesinghe, a media report said.

State-run Daily News said Mothiko Homma from Japan, and his Sri Lankan business partner Prince Gunasekera had met Prime Minister Wickremesinghe who had "explained the circumstances" of the reversed deal.

"The Japanese Investor taking into consideration the situation and the circumstances pledged to continue his investments in Sri Lanka," the report said.

The reversal of the deal through the personal intervention of Prime Minister led to raised eyebrows and fears that Sri Lanka’s investment environment, which was hit by expropriation and retrospective taxes, would be further undermined.

The sale was part of liquidations of stocks intended by Bank of Ceylon to raise capital.

The trade was done through J B Stockbrokers, a firm known for straight dealing. (Colombo/Dec28/2016)

Latest Comments

Your email address will not be published. Required fields are marked *