Discover and read the best of Twitter Threads about #lolc
Most recents (3)
With the prorogation of parliament, all parliamentary committees, including the Committee on Public Enterprise (COPE) headed by @charith9 which did much work inquiring into serious malpractices in Govt institutions highlighted by the National Audit Office, stand dissolved. (1)
This includes further inquiry into the report based on which @TimesOnlineLK published the story yesterday on #LOLC/Hingurana sugar. All incomplete COPE reports that haven't been submitted to parliament will now be in limbo. (2)
If you are a citizen of #SriLanka, understand one thing: all the checks and balances that were put in place to protect our rights and our resources are being dismantled to serve political objectives and personal ambitions. Utimately, YES, it hits the economy, our stomachs (3)
Think the private sector always does thinks better? And cleaner? And right? Read how Hingurana Sugar has been sucked dry via an interesting mechanism by #LOLC and #Brown. Great work by #SriLankan National Audit Office. via @TimesOnlineLK
sundaytimes.lk/211212/news/hi…
sundaytimes.lk/211212/news/hi…
Hingurana sugar factory is run jointly by the Government and private entities Brown & Company PLC and Lanka ORIX Leasing Company PLC (LOLC). #LOLC took billions worth of loans for the business at soaring interest rates from its associate companies.
The sugar company's operations were repeatedly funded through loans obtained from LOLC subsidiaries “under abnormal terms and comparatively higher interest rates”. Some were taken on compound interest, resulting in high finance costs, the NAO found
Complete analysis of the SL20
#stocks #SriLanka
Good breakout and pulled back to support, so far 2 days into the week and prices have almost recovered last week's losses
Approaching strong resistance at 3670
And then again around 3880 - Trend remains very bullish
#stocks #SriLanka
Good breakout and pulled back to support, so far 2 days into the week and prices have almost recovered last week's losses
Approaching strong resistance at 3670
And then again around 3880 - Trend remains very bullish
#BRWN - Only company out of the LOLC group that has pushed above ATHs. Excellent breakout today and with BIL on the move, this is heavily correlated to it and likely to move alongside BIL
#COMB - Ascending triangle, however yet to breakout and give a confirmation signal. Looks good, if a successful breakout, prices point towards retesting Jan highs and above
