Dec 27, 2016

Seylan saga : Homma requests to meet President

Japanese businessman Motohiko Homma has requested to meet with President Maithripala Sirisena after a deal to purchase 13 million of Seylan Bank shares owned by the Bank of Ceylon was revoked by Prime minister Ranil Wickremesinghe, 'Sri Lanka Mirror' learns.

According to share market sources, the businessman has also decided to withdraw nearly Rs. 3,500 million (25 million USD) of his money deposited in Seylan Bank, following the deal being cancelled.

With business interests in Japan, the US, Australia and Singapore, Homma had got involved in the Seylan Bank share sale at the request of one P. Gunasekara, a key customer of the bank.

Meanwhile, the PM has also instructed the FCID to investigate the matter, as the Japanese businessman had offered a higher-than-normal price per share.

The Bank of Ceylon, being the sixth largest shareholder, owned 13,198,305, or 7.5 pc of declared assets, voting shares of Seylan Bank.

The per share value at the time was Rs. 85.00, but Homma had offered a price of Rs. 100 per share.

Sources say a certain businessman who had bought shares of several financial institutions through inappropriate means and had his eyes on the Seylan Bank shares too, had used his political friendships to send wrong signals to the PM.

It is also said that Homma has been told by his advisers not to make any further investments in Sri Lanka and to withdraw his investments already made.

Related news :

Seylan Bank in peril as Japanese investor to withdraw Rs. 3,500 million
Govt. to revoke BOC's Seylan sale

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