uuummmy experience ..evry company with mention of sri lanka..i...

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pakkham

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10/02/21

16:53

Post #: 50868922
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Originally posted by MontyCZ: ↑

I am thinking about investing, not yet decided, still gathering fundamentals.
I have seen both youtube videos and still have no idea where the actual fraud (or any serious problem) is. Just ASX company bought shares of Sri Lanka companies. The permits stay in the hands of Sri Lanka companies and under Sri Lanka jurisdiction and oversight as required by law. Perhaps the amount paid for the companies might cause a problem in the tax reporting, but apart from that, the news brings nothing of value.
I don't think the Sri Lanka government sees foreign investment implicitly as "foreign entities exploiting Sri Lanka's minerals at a very low cost". All reasonable people know the company will employ locals, teach them how to do the business themselves, pay taxes and royalties and everyone is free to invest in the stock. Any company had a chance to pursue the opportunity, local ones included. So I see this attitude as bragging about a good idea someone else (a foreigner!) developed and presented. Just good old socialist, nationalist envy...
In case there are any environmental or other legit concerns - then all the foreign investment can be done for - this is a risk every developer takes. However, the news presented nothing of that kind. This is not good, objective journalism - it seems to be in service of something and/or someone else - be it ideologies, companies, individuals, or just intrinsic profit... Here, you can easily exploit people's feelings when running a news company. You exploit their inclination to populism, nationalism, fears (including exaggerated environmentalism), and lack of experience with being tricked - all at a very low cost, indeed. I don't know the reporters and their track record, but these two reports, unfortunately, speak volumes...

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uuumm
my experience ..
evry company with mention of sri lanka..
i would avoid..
not an advice..

TSL Price at posting: 2.6¢ Sentiment: None Disclosure: Held
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