|
|
 |
 |
 |
| Thursday, 4 November 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Stock Exchange not the barrow meter of our economy - Kingsley Wickramaratne
Today there are more than 45,000 registered companies in the country, but only 400 odd companies are on the stock market. As a result, the stock exchange is not the barrow meter of our economy, said the Chief Guest Governor of the Southern Province Kingsley T. Wickramaratne. He was addressing the Southern Province Awards Ceremony for the Sri Lanka Entrepreneur of the Year at the Light House Hotel, Galle recently. It was organised by the Hambantota District Chamber of Commerce and the Federation of Chambers of Commerce and Industry of Sri Lanka. Wickramaratne said "When your business is strong and steady go for a listing in the stock exchange and marshall social capital and get other entrepreneurs to join your business. He said that as long as the present banking system exists no business small or medium will be able to reach the top because if your are to borrow money from any bank, you have to give the very land and property which you live as collateral. In many countries for business loans, it is only plant and machinery or stocks of raw materials that is kept as collateral. Within the last two years many tea factories, estates and manufacturing companies in the Southern Province went under the auctioneer's hammer. In fact, in some cases the properties were auctioned below market value and many entrepreneurs were destroyed. The Gold Award was won by Tilak Wanigasekara for "Valued Addition" in tea. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
