Where To Invest?

[Watchman]

Sounds bit lame (or stupidly obvious), but presuming ur friend works in the UK and sends money home maybe you can give the LKR to the family here and ask ur friend to buy whatever u want there..

But if you already have the GBP might b easier to get someone going there to hand-carry it for you.

[Mars Volta]

I too came across a situation like this once, and I was told by a banker buddy the only way is to open up a account here in SL and send the friend the ATM and the PIN,

Sounds simple and no risk involved as far as I can see.

[The Stig]

This is totally OT but thought I'd ressurrect this thread instead of opening new one to ask a small question...I want to send about 400 sterling pounds to a friend in surrey england.I asked two banks they seem to be making a big fuss of it,they wanted all kinds of doucuments...what are my options to transfer the money...are there any alternative ways?

It is actually a big deal cause we arent suppose to send foreign currency abroad unless its for studies or any other reason that can be proven. Does ur friend have an NRFC account ? if so i believe you can transfer it to his account, will have to check up on this and tell you ASAP

[MasterDon]

If you can ask your friend to open a Paypal account, you can pay through a credit card.

Yes thats what I thought at first.but my credit limit is not even half the needed amount.But yes if all else fails I'll try expanding my credit limit sending it via paypal.

Sounds bit lame (or stupidly obvious), but presuming ur friend works in the UK and sends money home maybe you can give the LKR to the family here and ask ur friend to buy whatever u want there..

But if you already have the GBP might b easier to get someone going there to hand-carry it for you.

His whole family is in the UK machan,no immediate relatives here sadly.And its hard to find a guy willing to carry his and my money cos there's a limit I think.

I too came across a situation like this once, and I was told by a banker buddy the only way is to open up a account here in SL and send the friend the ATM and the PIN,

Sounds simple and no risk involved as far as I can see.

Hmm sounds simple,will check it out.Thanks.

It is actually a big deal cause we arent suppose to send foreign currency abroad unless its for studies or any other reason that can be proven. Does ur friend have an NRFC account ? if so i believe you can transfer it to his account, will have to check up on this and tell you ASAP

Thanks Stigs,any help much appreciated.

[YALA]

if its not an urgent payment you can ask someone whos going there to hand carry with so long as you can trust them..ive done it a few times through uni ppl going back after vacation.

[CyRaX]

Well I made a total rev of Approx 4M within just about 1.5 years. My main intention was to just study the stock market, so I had only about 100k invested in different companies, the main intention was only to get there year end financial details, untill I ran into this company who were actually making a loss, due to this there share prices were at around 3.60 rupeese. The main reason for them to make a loss was there financial costs (lease payments,intrest n stuff). But when I compared with there prev years statements this years financing costs were very much low. And I was dead sure they'd make a profit next year and as also there gross profit had also been increasing. So after a hard fight borrowed 1M from my father and waited till the share price went down, so bought the shares at 3.50 rupeese each and after a year and a half sold of em at 12.30 rupeese.

My advice would be to get hold of a close friend who is in the finance sector, because mainly depending on an automotive site wouldn't really help. And if you are investing in the stock market just make sure you dont let your stock brocker do the thinking, I personally never take there advice. Good luck

Btw if you guys want to know what the company is I'll give you'll a hint cz mentioning names would be against rules. Its an Indian company dealing with glass.

[madmax]

This is totally OT but thought I'd ressurrect this thread instead of opening new one to ask a small question...I want to send about 400 sterling pounds to a friend in surrey england.I asked two banks they seem to be making a big fuss of it,they wanted all kinds of doucuments...what are my options to transfer the money...are there any alternative ways?

Use a money changing agency, they will accept your money here and get their contacts in the UK to pay your friend. Just make sure you get hold of a reputed agency. This is a black market transaction though. Works purely on trust and leaves no document trail.

It's a PITA to get money out of the country even with NRFC accounts. I've had trouble bring money to pay for school here in the US. Black market is the only way to get through it.

Edited March 14, 2012 by madmax

[TheClutch]

This is totally OT but thought I'd ressurrect this thread instead of opening new one to ask a small question...I want to send about 400 sterling pounds to a friend in surrey england.I asked two banks they seem to be making a big fuss of it,they wanted all kinds of doucuments...what are my options to transfer the money...are there any alternative ways?

yeah the black market could be the easiest way...they call this undiyal...if u really need this i can help u out...waiting time is depend on the time zone..

[The Stig]

Okay got an update to the whole situation,

Now according to a very credible source you cant send money abroad without a valid reason such as studies, migration etc. However if you still want to do so you will have get permission from the controller of exchange in the Central Bank, but i think its a bit of drag considering its only 400 pounds.

Im assuming you dont have an NRFC account right MD ? if that's the case the easiest would be to get hold of one who does (people who work abroad have NRFC accounts most often) and ask the account owner to transfer the funds to your friends account and you can pay the account owner or some other agreement. IMO this would be the easiest and way and its 100% legal as well.

[--GeNeX--]

Yes thats what I thought at first.but my credit limit is not even half the needed amount.But yes if all else fails I'll try expanding my credit limit sending it via paypal.

His whole family is in the UK machan,no immediate relatives here sadly.And its hard to find a guy willing to carry his and my money cos there's a limit I think.

Hmm sounds simple,will check it out.Thanks.

Thanks Stigs,any help much appreciated.

The limit to hand carrying currency to UK with out declaring is £7000.

The ATM and card method is also another way. My bank manager recommended it to me. I know commercial bank doesn't charge for UK withdrawals.

If you were kind enough to show me your rust buckets I would have "carried" it for you. I don't know if your friend will receive it though...

[--GeNeX--]

The stock market is a rich man's game. Unless you have more of where that 5 mil came form, I wouldn't recommend it. Especially with the Sri Lankan market you have to be careful. A lot of insider trading, so get a reputed broker.

[NadriquE]

western union?

[MasterDon]

Okay got an update to the whole situation,

Now according to a very credible source you cant send money abroad without a valid reason such as studies, migration etc. However if you still want to do so you will have get permission from the controller of exchange in the Central Bank, but i think its a bit of drag considering its only 400 pounds.

Im assuming you dont have an NRFC account right MD ? if that's the case the easiest would be to get hold of one who does (people who work abroad have NRFC accounts most often) and ask the account owner to transfer the funds to your friends account and you can pay the account owner or some other agreement. IMO this would be the easiest and way and its 100% legal as well.

Thanks a bunch mate!

The limit to hand carrying currency to UK with out declaring is £7000.

The ATM and card method is also another way. My bank manager recommended it to me. I know commercial bank doesn't charge for UK withdrawals.

If you were kind enough to show me your rust buckets I would have "carried" it for you. I don't know if your friend will receive it though...

Lol...what makes you think I'd want YOUR help?...Sorry mate,I don't trust homosexuals.

western union?

Do they have agents here?

[NadriquE]

Do they have agents here?

cant remember which bank it was... that "london wala albert uncle" ad came to my mind...

[--GeNeX--]

Lol...what makes you think I'd want YOUR help?...Sorry mate,I don't trust homosexuals.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>..

You should trust your self or you will be a dick for the rest of your life

[The Stig]

cant remember which bank it was... that "london wala albert uncle" ad came to my mind...

No machan western union can only send money here, we cant send any amount to individuals out of the country in any way. Central bank rules.

Edited March 14, 2012 by The Stig

[NadriquE]

No machan western union can only send money here, we cant send any amount to individuals out of the country in any way. Central bank rules.

oh my bad

[CyRaX]

The stock market is a rich man's game. Unless you have more of where that 5 mil came form, I wouldn't recommend it. Especially with the Sri Lankan market you have to be careful. A lot of insider trading, so get a reputed broker.

5M, no not necessarily If your into buying and selling shares. Even having a 100k will get you a good profit, and if it's just the dividends that you basically want 5M really isn't enough It depends on the company though.

[Sylvi]

Hi Guys,

What is a good option to invest around 50Lakhs in Sri Lanka that it can give around 1 Lakh every month?

I have few ideas and your ideas are highly appreciated.

1. Buy a Layland bus and put in the road

2. Buy a Lorry or bowser and hire

3. Invest in Stock market

4. Buy a Land and sell later.

Please post your comments.

'dpbatagoda',

(4)Buy a Land and sell later.

Do not invest all your 50 lacks on one land, buy number of lands.

I have bought lands small blocks 10 acre develop them with fully planted Coconut trees around the fence of the land ( PUWAK & THEKKA) trees with a tube well for watering have drip irrigation. small holiday house Sell them in 5 years .that is the cost of the land and with all development but you have to be in and out of the lands. You will make 500% or more profit depending on how you develop.

I bought a underdeveloped land in Chilaw district for a friend of mine in 2004 20 acres for 2 Million. to day it is fully planted with a tube well Electricity on the land mango 50 trees, Coconut he gets around 2000 nuts in two months. 4 kilometers of gravel road was developed on his account with a small house still 50% more trees to start bearing he has a offer of 390 million his total expenditure up to last month for last eight years was 80 million.

You have to to do little bit of work on week ends visiting the lands.

Sylvi Wijesinghe.

[--GeNeX--]

5M, no not necessarily If your into buying and selling shares. Even having a 100k will get you a good profit, and if it's just the dividends that you basically want 5M really isn't enough It depends on the company though.

whoops, I think you misinterpreted. I meant if he has another income he should invest in stocks. Like you said 100k is enough.

[--GeNeX--]

'dpbatagoda',

(4)Buy a Land and sell later.

Do not invest all your 50 lacks on one land, buy number of lands.

I have bought lands small blocks 10 acre develop them with fully planted Coconut trees around the fence of the land ( PUWAK & THEKKA) trees with a tube well for watering have drip irrigation. small holiday house Sell them in 5 years .that is the cost of the land and with all development but you have to be in and out of the lands. You will make 500% or more profit depending on how you develop.

I bought a underdeveloped land in Chilaw district for a friend of mine in 2004 20 acres for 2 Million. to day it is fully planted with a tube well Electricity on the land mango 50 trees, Coconut he gets around 2000 nuts in two months. 4 kilometers of gravel road was developed on his account with a small house still 50% more trees to start bearing he has a offer of 390 million his total expenditure up to last month for last eight years was 80 million.

You have to to do little bit of work on week ends visiting the lands.

Sylvi Wijesinghe.

Does he not have a problem with monkeys?

[CARBON B4]

Btw if you guys want to know what the company is I'll give you'll a hint cz mentioning names would be against rules. Its an Indian company dealing with glass.

Good choice, I think you are referring to Prim*l ? If so they have a monopoly in the local glass business, but guys seem to be hit big time with the oil price increase. But now its more cheaper to import from China or India directly, so in a few years time their numbers are not going to look that good. Already a few big guys are looking at alternate sourcing options, so in my view not the best long term investment.

[CARBON B4]

No machan western union can only send money here, we cant send any amount to individuals out of the country in any way. Central bank rules.

Thats right, the basic exchange control principle is that no money cannot go out of the country without the country receiving anything in return to that value. So what ever way you try to overcome its its still going to be illegal if it exceeds the value given by central bank.

[Sylvi]

Does he not have a problem with monkeys?

GeNeX,

There are plenty of problems from the neighboring land villagers they come to rob coconuts, and Mangoes during the season, have lost some water pumps grass cutting machines.

Not any other problems from animals have to use long covered shoes when we walk inside the land if not snakes are a problem.

Sylvi wijesinghe.

[CyRaX]

GeNeX,

There are plenty of problems from the neighboring land villagers they come to rob coconuts, and Mangoes during the season, have lost some water pumps grass cutting machines.

Not any other problems from animals have to use long covered shoes when we walk inside the land if not snakes are a problem.

Sylvi wijesinghe.

Mr. Sylvi the majority of the members here would really prefer if the arguments were kept out of these threads since you've already opened up this thread http://www.autolanka...me/page__st__20

Thank you, have a nice day

Edited March 15, 2012 by CyRaX