Jan 28, 2017

No money in Perpetual Treasuries’ accounts? Featured

Although the government has imposed restrictions on the bank accounts of ‘Perpetual Treasuries’, doubts have now been raised whether there is money in these accounts.

It is said that the company had earned a net profit of Rs. 6815 million from April 01, 2016 - 31 September, 2016 while earning a profit of Rs. 13,000 million out of the controversial Bond Issue, within 21-month period.

Finance experts are of the opinion that the company, being a primary dealer, won’t neccessarily be hoarding their profits in bank accounts.

Noting that the company has probably invested the profits in other companies, they add that fixed and liquid assets of the company should be seized if the losses incurred to the Central Bank and the Employees’ Provident Fund (EPF) are to be recovered.

Rumoured investments?

Recently, media reported that the Perpetual Treasuries’ owner - Arjun Aloysius had purchased a gym of former MP - Sajin Vass Gunawardena, which was located at the Racecourse building in Col. 07.

Reports also cited that Aloysius has also invested money on the media institution - Sky media, which functions the radio stations - Sitha FM (formerly Sinha FM), Thamil FM and Red FM.

However, when contacting the head of Sky Media - Nilanga Hettiarachchi, he rejected the reports saying they have not arrived at any deal as such. He added that such rumours have circulated after they recruited around 35 new members for their staff.

Regardless, reports also cite that plans are underway to purchase shares in several private digital media channels including Siyatha.

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