New company for Golden Key

18 October 2010 12:30 pm - 23     - {{hitsCtrl.values.hits}}

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The assets of Golden Key Credit Card Company is to be transferred to a new company to be formed under the Companies Act and the depositors of Golden Key will be appointed as the shareholders of the new company, according to a decision arrived at a meeting between the President and theGolden Key Depositors Association at Temple Trees today.  

Accordingly the assets of Golden Key will be transferred to the ‘GKCG Special Purpose Vehicle Private Limited (GKCGSPV)’ and the depositors of Golden Key would be made shareholders of the new company in proportion to the percentage of their deposits in Golden Key Credit Card Company.

  Comments - 23

  • Katussa Monday, 18 October 2010 12:33 PM

    At last something seems to be happening in this case. Happy to hear.

    happz Monday, 18 October 2010 12:39 PM

    hmm, interesting!!

    Dilina Monday, 18 October 2010 12:44 PM

    Positive move by the president both from the depositors & the country's business's point of view.I would say this move has to be highly commended.

    Gayan Samarasekara Monday, 18 October 2010 12:51 PM

    Great move.. though there may be some additional limitations on shareholder rights with the new company compared with a normal shareholder, this is a kind of promising way to address the issue. Well done Mr President. Meantime secure Kothalawala's rights too...

    Mylanka Monday, 18 October 2010 12:52 PM

    who is the chiarman for the new company ?? is it another R ?

    mugatiya Monday, 18 October 2010 12:55 PM

    & u think this is gonna be good for the depositers??

    Man B Monday, 18 October 2010 12:58 PM

    under MR family group.

    iddasiri Monday, 18 October 2010 01:09 PM

    It is really good, still do not use public funds for the purpose

    Thasneem Monday, 18 October 2010 01:21 PM

    Good move, but people should not blame the goverment after investing their money for fancy interest rates.

    upul Monday, 18 October 2010 01:24 PM

    A H......u........g......e......carrot. for fools in sri lanka.

    Samantha Monday, 18 October 2010 01:28 PM

    This is a very good move in respect of our economy and the business environment is concerned However the people who mismanaged the public funds should be furnished because they were challenge the corporate governance directions which were introduced by CBSL in 2008 If they complied all directions this would not happen for their group

    Man B Monday, 18 October 2010 01:42 PM

    definitely new company chairman will be a Rajapakse family member.

    shane Monday, 18 October 2010 01:43 PM

    we all like to know who is the head of the new company?
    The fate of the depositors depend on that!

    Mushi Monday, 18 October 2010 01:46 PM

    Look the Company name "GKCG Special Purpose Vehicle Private Limited" which means that this is a Private Company. According to Companies Act, Minimum number of shareholders for a private Company is 2 and maximum is 20. So, number of depositors affected are 20 or less??How much is the authorised share capital?what is the price per share?Depositors pay huge share price for a baby Company to be born whereas in share market, they can buy shares for much less.

    sw Monday, 18 October 2010 01:51 PM

    The big question is who will run the company, professionals or political stooges.

    pandula Monday, 18 October 2010 01:57 PM

    Co brothers plan

    Bluff Bluff Tuesday, 19 October 2010 03:19 AM

    I smell a rat!

    BLK Tuesday, 19 October 2010 03:22 AM

    Mr. Lalith Kotelawala is Safe , That is good as he developed many parts of the country mostly Colombo. It was his bad time and personal acts he had to face this.

    See what can love do Scicili Kotelawala left him and even a World class Billionaire can fall down because of love

    Hemal de Silva Tuesday, 19 October 2010 03:35 AM

    And, who will manage this company?.

    J Dan Monday, 18 October 2010 03:02 PM

    Oh another MR (Pvt) Ltd company

    lishan Tuesday, 19 October 2010 06:26 AM

    Who is the new owner?

    YUTHUKAMAYA Wednesday, 20 October 2010 01:13 AM

    FOR SRILANKAN PEOPLE

    Dont dipost your own mony in srilanka state bank and
    private bank.
    every srilanka financial institution are cheeting for the
    srilankan people. arrange own safe

    Saradial Wednesday, 20 October 2010 01:52 AM

    Please don't see all through your political glass, theoretically it is good move. We don't know what happening behind the screen. lets wait and see what happens in real.


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