Barbarian at the CSE

The Rs. 407 billion rise in the Colombo stock market’s overall value in three months or since its lowest level year to date in June gives the impression of a bust to boom scenario. Amidst septicemic and concerns by some, the blue chips joining the rally has given greater credence to the unprecedented rebound of late.

 

If some felt the Bourse has gained too much too soon, then the 100 points each rise by both the ASI and MPI yesterday was telling. The rise in the ASI between its lowest level of 4,738 on 6 June and yesterday was 1,040 points or 22%, whilst in terms of market capitalisation it is Rs. 407 billion. The recent rebound has reduced the ASI’s year-to-date dip to below 5% by yesterday as opposed to 22% in early June. ASI is now at 8-month high. If the momentum persists, which many expect whilst some don’t, the CSE with a few more months for year end is just short of Rs. 400 billion to surpass the all-time-high market capitalisation of Rs. 2.6 trillion achieved on 2011 Valentine’s Day.

Is the Stock Market above the law ?

Former SEC chairmen Dr. Thilak Karunaratne , Economist UNP MP Dr.Harsha De Sliva explains.

Colombo CSE the 3rd best bourse

The Colombo share market has become the third best performing bourse in the world.

In the one month period from August 10, the CSE has recorded a 14 per cent growth, based on the US dollar value.

Aanalysts say foreign investors could once again get attracted to Sri Lanka following this performance by the Colombo share market.

The best performing share markets in the world are in Greece and Spain.

Keheliya explains failure to arrest Malaka

 
Cabinet Spokesman Keheliya Rambukwella said on Thursday that Malaka Silva, the son of Minister Mervyn Silva who was wanted in connection with the assault on an Army major had not been arrested while he was at the Kelaniya Temple as the police would have felt that arresting him in the sacred precincts of the Kelaniya Temple was not proper.

“Police would have thought that arresting him in the presence of the Sacred Relics was not etiquette,” he said.

The minister was replying to a question by a journalist as to why the two special police teams that had been deployed to arrest Malaka Silva, had not arrested him when he was at the Kelaniya Temple.

Hospital attendant abuses boy

A male attendant of Thalatuoya Hospital has been arrested for allegedly sexually abusing a boy, aged eight years.

The victim of the incident is a student of a school in the area. The suspect had abused the boy as he was playing in his home garden.

The boy has been admitted to Kandy Base Hospital.

Malaka Silva goes to Colombo DIG’s office

Malaka Silva, the son of minister Mervyn Silva and Rohan Wijeratne, the son of Sri Lankan ambassador in Turkey Bharati Wijeratne, have gone to the DIG’s office in Colombo this morning (Sept. 13) to give a statement with regard to an assault incident.

They are accused of having assaulted a major attached to the Army intelligence and his buddy at JAIC Hilton Hotel in Colombo a few nights ago.

The Army, on the instructions of the Army chief yesterday, has set up a tribunal to investigate the incident, said Army spokesman Brig. G. Ravipriya.

Meanwhile, the only sister of Dr. Nissanka Wijeratne has refuted media reports that a son of the late minister was involved in the assault incident. N. Hulangamuwa said Dr. Wijeratne had only two sons – Subodhana and Hasitha, who do not have anything to do with local politics.

Hasitha is a medical doctor who has graduated from Hertfordshire University in England and presently serves at Colchester Hospital. Sobodhana, an honours graduate of Cambridge University, England is reading for his doctorate in Japan, said Mrs. Hulangamuwa.

Their reputation has been tarnished by the reports that a son of late Dr. Wijeratne had got involved in an act of thuggery with a person like Malaka Silva, she said.

Upon further inquiries, it has been revealed that Rohan Wijeratne is a son of ambassador Wijeratne’s first marriage.

Related Posts : Malaka Silva :

President rejects Mervyn’s proposal

A cabinet paper submitted by minister of public relations Mervyn Silva has been rejected by president Mahinda Rajapaksa himself.

At the cabinet meeting yesterday (Sept. 12), the minister had tabled a proposal to build rest halls in Hambantota, Batticaloa, Jaffna and several other districts.

He had estimated the cost of the project at Rs. 298 million.

Malaka Silva still free

Police say Malaka Silva, the son of minister Mervyn Silva, will be arrested for assaulting a military officer and snatching his service firearm.

Police have received a complaint from the major, attached to Army intelligence, about the incident at the car park of Jaic Hilton Hotel in Colombo, said police spokesman SSP Ajith Rohana.

According to the complaint, Malaka and the son of former minister Mano Wijeratne had assaulted the military officer and snatched his firearm, mobile phone and a gold chain.

Police said a driver of Malaka had later handed over the firearm to Slave Island police, saying he had found it in front of the hotel.

Police said Malaka will definitely be arrested in the coming days.

In the meantime, Malaka and his father Mervyn Silva were seen at Kelaniya Rajamaha Vihara, paying homage to the sacred Kapilawastu relics.

Hirunika Premachandra, the daughter of slain presidential advisor Bharatha Lakshman Premachandra, was also present.

Commenting on the assault incident, minister Silva has said that the police would do the needful and that he had more important matters to attend to.