20 October, 2017

Recorded Profits Of Rajapaksa-State Owned Insurance Giant Vanished

Confirming reports that have been circulating over the depleting finances of Sri Lanka Insurance Corporation, local media has reported the establishment has obtained a bank loan of Rs. 900 million during the first quarter of 2014.

Rajapaksa, Cabraal, Basil Rajapaksa speak during the presentation of the Central Bank of Sri Lanka annual report 2010, in ColomboIt is reported that a loan of this nature has been borrowed by SLIC for the first time in its history – a reflection of sure signs of financial concerns within the institution.

However, SLIC that disclosed its financial performance of 2013 recently, boasted their stellar performance – a whopping 10% growth in profit before taxation of Rs. 6.354 billion. Reports that have quoted sources in the SLIC state that the need for the establishment to obtain a bank loan despite such a significant growth is of grave concern as only a meager amount off the recorded profit had been spent on SLIC expenses including compensation and payment of benefits.

The SLIC presently dominates the insurance market in Sri Lanka and the question remains of what became of the profits recorded in 2013 of this Rajapaksa-state managed insurance giant.

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  • 19
    0

    Hmmmm………Sr Lankan Air, Mihin Lanka, Mattala Mahinda Rajapaksha International Airport, Ruhunu Magampura Mahinda Rajapaksha International Port, Sri Lankan Cricket, Customs, Income Tax, Apparel sector, Petroleum, Electricity, Foreign relations…………State Banks, Insurance………Hmmmmm………It seems that we are very close to the Ass-charya……Accounts in Swiss banks will be getting healthy day by day through seashells transfers……..Hmmmmm…….Aba Saranai…… Now we need more and more Nanasara’s

    • 14
      0

      Come on guys,

      You haven’t asked at what interest rate the money was borrowed at. They will soon claim that they borrowed to invest using cheaper money, while lending out their profits as mortgages to property buyers at higher interest rates.

      Doesn’t it make sense? Then, the big boys can pocket the profit thereby made. Who cares for the investment made on borrowed money?
      May be they will get the Chinese to build a palatial Headquarters for them.

      • 9
        0

        Maintenance of the Military and city beautification including the super luxury Independence square shopping complex – where the money went!

    • 9
      0

      It is official, it it Rajapakisland. Whole country belongs to Rajapassas.
      They can do whatever with the money.
      nobody can ask questions.

      • 10
        0

        A big chunk of the profit is already in Seychelles.

    • 5
      0

      [Edited out] – uneducated rascals cant see it beyond. That is why this kind of reappointments are seen today. This president has zero vision about the future of the country, about the tamil cause, about muslim cause about a sustainable solution to country alarming problems.

      They only know how to consolidate their political survivials. that is it.

      Why I call myself ” NAKEDSRILANKEN” because these buggers, Rajapakshes have painted a different image for us once upon a time we were held as very kind, generous, srilankens. Today, in europe, Rajapakshes are compared to Northkoreans… they compare them with Zimbabwians. Thanks go to idotic leader MR and his co. WHOM else? Janathawani Nagitiyawa… go for an arab style spring to change this bloodierst regime.. that only looted our nation by now.

  • 18
    0

    When will the foolish masses come to their senses that the MARA,GORA & BARA family are taking them on a Royal Ride at the expense of Country’s Economy and also stirring up communal violence for their continuous plundering of the state. This bugger CABRAL is also a partner in crime.

    I always say, we should have known the ROGUE, when we knew that he SWINDLED THE TSUNAMI FUND. Now we have let a whole family and their extended families to plunder the State coffers.

    WAKE UP YOU FOOLS, before it is too late.

    • 3
      3

      Silve , the former CJ is an aacomplice

    • 8
      0

      “CABRAAL” TOO IS AN ACCOMPLICE IN CRIME

      • 0
        0

        Don’t ever buy a second-hand car from this guy!

    • 3
      0

      “WAKE UP YOU FOOLS, before it is too late.”

      Unfortunately in the island only walls have ears.

      If the walls can speak???

  • 17
    0

    Don’t Ganasaras, Champikas, Gammanpillas and all the racist cunts see this?
    MaRa Family are the cancer cells killing slowly all of us including the BBS goons!!!!

  • 15
    0

    This is why they are behind all the racial riots and chaos that goes on in the country – they want to distract the people from their corruption and crime.

  • 10
    0

    Like the Tsunami aid that mysteriously ended up in some devil’s account?

    Time to investigate and follow the money.

  • 8
    0

    This island which has been romanticised by cheap tour lazy British tourist can only get worse economically and insecure for anyone living there except Rajapassa and cahoots.

  • 9
    0

    The entire nation curse MARA and his family……

  • 9
    0

    It is pointless using derogatry language to bash these men who are pathological liars and crooks of a vast criminal enterpise. The important three are in the picture the fourth is absent. It has become obvious that very large amounts of money has been spirited away through the Seychells to Swiss Banka. The president did not visit this Island to view the sunset, but to advance the continuing plunder of our land.
    The recent opening of this luxury shopping complex for the Colombo elite to spend money is a contradiction to the increasing poverty and the hopeless amongst the people of the land. Are we witnessing the end? I am personally convinced that Divine Judgment is eminent with manifold consequences. It just will not be a crash, but an explosion of death, sickness and diseases, that will grip all in the family and those associated with this family. So don’t be suprised, it is silent, swift and sure.

  • 6
    0

    The buildings at the Independence Arcade were built by the British as that of the Racecourse and were intact. What was done was refurbishing that had cost the Tax payers of this country over thousand times the cost of putting up the buildings. Imagine if they had to put up the buildings as well, what the cost would have been? Visit the Water’s Edge Goods Market and the Racecourse Shopping Mall and see for your self how they are struggling to exist. The fate of the Independence Arcade will not be different to the other two very soon. These show pieces like the Hambanthota Harbour and Airport will be the White Elephants of the MR regime. MR’s ego will sink with Mihin Air and all these show pieces together in the near future.

  • 7
    0

    Hey, I READ somewhere, Ghanasara or Balusara of the nation has attacked Mahinda buruwa without any fears today asking him to remove Hakeem from the regime.
    Wait and see, the nations buruwa would react on Ghanasara the barbarian pseudo monk.

  • 4
    0

    What did SLIC borrow? to pay NoLimits and others?

  • 1
    0

    Ask this crook rajapukka who is that fellow in the UAE running a numbered account and who is the ultimate beneficial owner of that account? People of Lanka are dumb beyond imagination or they are threatened by these thugs to vote or they are rigging the votes.

  • 8
    0

    4 YEARS RECORD OF NEPOTISM UNDER MAHENDRA PERCY RAJAPKSA:
    1. Hedging Deal – Petroleum Chairman – Asantha De Mel – Exam passed None – Cricketer Shiranthi’s
    relation – losses to Sri Lanka Rs. 230 Billion ( Rs. 230,000 Million) Chairman lost his job by virtue of a
    Supreme Court order. The S.C. order to sell petrol at Rs.100 not complied yet (current price of a Petrol
    liter is Rs130/).

    2. Loss on National Carrier Air Lanka for 2007 – 2008 Rs. 10,000 Million (10 Billion) – Chairman
    Nishantha Wicremasinghe (Shiranthi Rajapaksha’s Brother) – Exam Passed GCE O/L

    3. Loss on Mihin Air for 2007 – 2008 Rs. 4,000 Million (4 Billion) – Chief Executive Mahinda’s Sajin
    Vas Gunawardena – Exam passed GCE O/L

    4. New 2008 Budget allocation for Mihin Air Rs.1,000 Million (1Billion)

    5. Airport project Weerawila cancelled. Initial cost on feasibility study Rs 500 Million.

    6. Mig Deal – through “King’s cousin” Udayanga Weeratunga (Exam passed – GCE O/L Sri Lankan
    Ambassador to Russia, purchase of 4 Mig fihghters which were not air worthy from Belimissa holding
    set a price Rs.400 Million more than the last published price. Udyanga was previously Ceylon Tours
    agent in Ukraine, no diplomatic experience whatsoever.

    7. All defense purchases through Lanka Logistics Chief Executive Officer Jayantha Wickremasinghe –
    Exam passed GCE O/L– Mahinda’s Sister Gandhini’s Brother in Law the owner of ‘Akuressa Palace’
    (also Chairman Bank of Ceylon Gamini Wicremasinghe’s Brother.)

    8. VAT Scam – Loss to the Country Rs. 35,000 Million. (Rs.35Billion) Inland Revenue Department –
    Minister of Finance – Mahinda Rajapaksha

    9. Hanbantota man made Safari Park to be created at a cost of Rs.16,000 Million (1.6Billion) This
    makes no sense as the Natural Safari Park is next door in Yala.

    10. Kerawalapitiya power plant cost US $ 400 Million. Actual cost US $ 200 Million. Planned for 300
    Mega Watts built for 200 mega watts.

    11. Kerawalapitiya power plant. (Additional Losses) Cost per day to CEB Rs 70 million. Per year Rs
    25, 550 Million (25.5Billion) Initial agreed purchasing price per unit Rs18. Current purchasing price
    Rs.40/Loss to the CEB from a unit Rs.22

    12. Uma Oya Project. projected value US$ 265 Million enhanced value US$ 545 Million. Increase of
    US$ 280 Million. Rs. 28 Billion ( Rs. 28,000 Million). Two reservoirs that are built have an extent of only
    50 acres. Victoria project has an extent of 7,500 acres. Minister – Chamal Rajapaksha – President’s
    brother

    13. Cabinet of Ministers have approved purchase of 35 Gantry Cranes at a price US$ 600,000 higher
    than the last purchase price.This purchase has not been effected yet. (Minister in Charge; Chamal
    Rajapaksa President’s brother)

    14. Contract signed with Dilhan Wicremasinghe Shiranthi’s brother’s son (Chairman Air Lanka) to
    supply branded computers to all divisional Secretariats at a cost of US $ 16 Million (price per computer
    Rs.150,000/=). He supplied all unbranded computers which are available at Unity Plaza at Rs.50,000/=.
    Amount robbed Rs.1,200 Million

    • 2
      0

      Lankamithra,

      You have mentioned only a fraction, anyway thanks. I can understand that these Rajapaksas and their catchers have thick skin, but what about the society that croaked about corruption under the UNP and wanted a change in ’94? I know a few of them and today their mouths are shut. A damn disgrace! I have never condoned corruption and violence under the UNP.

  • 2
    0

    Cooked with the books of course!

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