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UNP Leader Ranil Wickremesinghe should explain to voters why he went ahead with the L.H.Plantations transaction where the beneficiaries were himself and his family, PA Polls Watch Coordinator Sripathi Sooriyarachchi said in a statement.

He states that when the transaction took place in 1992, Mr.Wickremesinghe was Minister of Industries, Science and Technology and also the Chairman of the Cabinet Sub Committee on Economic Affairs which handled the privatisation of estates of the Janatha Estates Development Board.

He said a statement issued by L.H.Plantations in this regard, published in a Sunday newspaper, has attempted only to absolve Mr.Wickremesinghe and has not disclosed the correct facts.

The PA Polls Watch statement:"

"A weekend newspaper has given front-page prominence to a statement issued by L.H. Plantations (Pvt.) Ltd. In response to some comments made by the President in a TV Interview on ITN on November 11th Lake House Printers & Publishers Ltd. (LHP) in association with Lake House Investments Ltd. (LHI) had applied to pre-qualify in early 1992. Then they had presented their offer and tender to take over around 17,000 acres.

The tender of LHP and LHI was accepted in May 1992.

Board of Directors of L.H. Printers & Publishers Ltd, in May 1992 Ranjith S. Wijewardene (Ranil's uncle - Mother's brother), G.B.S. Gomes (Ranil's uncle - Mother's sister's husband), L.C. Gooneratne (Ranil's uncle - Mother's sister's husband), Mrs. Nalini M. Wickremasinghe (Ranil's mother), E.E.C. Abayasekera, K.A. Stanley Silva, U.S. de S. Wijesundera, D.V. Gunatunga.

Board of Directors of Lake House Investments Ltd. In May 1992 Ranjith S. Wijewardene (Ranil's uncle), G.B.S. Gomes (Ranil's uncle), L.C. Goonaratne (Ranil's uncle), Mrs. Nalini Wickremesinghe (Ranil's mother), E.E.C. Abayasekera.

When these two companies of Mr. Ranil Wickremesinghe's relatives made their claim to pre-qualify, offer and tender, it was accepted by the Cabinet Sub Committee on Economic Affairs and the Cabinet. Mr. Ranil Wickremesinghe was the Chairman of that Sub Committee and was a member of the Cabinet.

The most interesting fact is that although the tender accepted was from LHP and LHI, the agreement had been signed with Lake House Plantations (Pvt.) Ltd. (L.H. Plantations Ltd.) to hand over around 17,000 acres.

In fact, this Lake House Plantations Ltd. was Incorporated on 4th June 1992. This is long after the pre qualification, offer, tender and acceptance. This company had not processed any of the qualifications to bid of the financial capacity to make the offer.

Board of Directors of L.H. Plantations in June 1992

Ranjith S. Wijewardene (Ranil's Uncle), G.B.S. Gomez (Ranil's Uncle), L.C. Gooneratne (Ranil's Uncle), Mrs. Nalini M. Wickremesinghe (Ranil's Mother), U.S. De S. Wijesundera, D.V.Gunatunga, P.S. Wijewardene, (Ranil's Uncle), D.N. Wijesundera. Share Holders of Lake House Plantations Ltd on 4th June 1992.

Share Holder No of shares

LHP Ltd 110,000

LHI Ltd 70,000

Ranjith Wijewardena 5,000

G.B.S. Gomes 2,500

L.C. Gooneratne 3,400

Mrs. Nalini M. Wickremesinghe 100

U.S. de S. Wijesundera 2,500

D.V. Gunatunga 1,000

Sarathi Ltd 5,000

On 4th June 1992, Ranil Wickremesinghe was a shareholder and a Director of Sarathi Ltd., which held 2.5% shares of Lake House Plantations Ltd. Ranil Wickremesinghe's Mother and his relatives were Directors and shareholders of all three companies at the time.

Additionally, at the time of taking the decision to hand over around 17,000 acres to LH Plantations Ltd, Ranil Wickremesinghe owned 25,000 shares of Lake House Printers and Publishers Ltd., which owned 55% of shares of LH Plantations Ltd.

Mr. Ranil Wickremesinghe even at present owns 7,000 shares of Lake House Investments Ltd, which owned 35% of LH Plantations Ltd at the time this highly questionable transaction was approved.

Estates handed over to LH Plantations by the UNP government on 18th June 1992:

Attanagalle Estate, Dambadeniya Estate, Datusenapura Estate, Dodangaslanda Area Estate, Galle Estate, Hiriyala Estate, Katugampola Estate, Kurunegala Area Estate, Mahayaya Estate, Mawathagama Estate, Melsiripura Estate, Narammala Estate, Wariyapola Estate.

As well as all movable property relating to the above estates including money and 200,000 shares in Serendib Coconut Products Ltd.

We leave it to the public to decide whether President Chandrika Bandaranaike Kumaratunga's disclosure regarding this shady deal was a manipulation by Ranil Wickremesinghe as Chairman of the Cabinet Sub Committee which evaluated and recommended the handing over of 17,000 acres to his mother's and relatives' company.

Further LH Plantations had misrepresented the facts to save their godfather, Ranil Wickremasinghe. However, it is not LH Plantations, but Mr. Ranil Wickremasinghe who as a public figure should answer the general public on the above shady transactions from which he himself, his mother, uncles and other relatives have unjustly enriched themselves by grossly abusing his power as Chairman of the Cabinet Sub Committee on Economic Affairs and as a member of the Cabinet. Is this not tantamount to a corrupt practice?

Mr. Ranil Wickremasinghe had not declared his interests prior to evaluating, recommending and executing this transaction. Furthermore, he had participated at the Cabinet meetings when all the decisions pertaining to these shady deals were taken in spite of his personal Interests, which benefited himself and his relatives.

However, Ranil Wickremasinghe is now giving promises to the general public to create a corruption free adminstration.

The People's Alliance Government tried its best to cancel this shady deal in and around December 1997. But LH Planation Ltd. filed a case in the District Court of Colombo and obtained an Interim order preventing a take over. Then LH Plantations referred the cancellation of the said agreement by the PA government to an arbitration panel that decided that the cancellation of the said agreement was not in order on technical grounds. The PA government committed to democracy and not to a witch-hunt did not wish to waste public funds on pursuing this matter further.

It however, does not in any way take away the facts. Mr. Wickremesinghe would do well to explain to the voters why he went ahead with this transaction where the beneficiaries were himself and his family.

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