Fwd: Rely to the Government statement on the Bond Issue- the real truth
Saturday, 07 March 2015
The person who drafted the statement for the government has gone to extremes trying to cover the white collar crime by giving dates and giving economic theory. No mention however anywhere how his son in law got the information to bid for the Rs 3 billion via the BOC . There is evidence that the request from Perpetual Treasuries were received 10 min before the bond auction was closed. The dealers at Bank of Ceylon would confirm this. No person would believe Mr Mahendren after this deal.
The statement says the government decided to increase the requirement to 15 Billion on the 26 th. The amount offered was only 1 Billion. So there was no way Perpetual Treasuries would have used their judgement to bid for additional 3 Billion at over 11% with out inside information. All in all Perpetual collected Rs 5 Billion and would have made a profit of over Rs 211 Million.
If the government is to regain the confidence of the fund management community both locally and oversees they need to either ask the Govornor to vacate his job, given his many conflicts or get the CID to investigate and find out how Perpetual Treasuries obtained the information and prosecute the relevant persons. Mr Sirisena you are the President and it is you who made this appointment, so save your credibility and the goodwill you have earned in the last 60 days..
Good Governance activist.
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