How Good Is Lb Finance

[Pericles]

Criticizing which is very wrong of you. Mostly because of you I have been issued with 6 warnings by joint moderator Mr. Pericles

For one thing, not all your warning are issued by me. For another, you can stop blaming watchman for your warnings, most of them are because you misbehaved, not coz of Watchman. And we explain WHY the warning is given so you can LEARN from it and STOP doing it again. Which you seem to be missing out on if you think its coz of watchman!

Now I don't discuss warnings on the open forum, but there are plenty of people with active warnings around, they just don't go whining about it. Most of them take it in the proper spirit, and most even reply to admit their fault and say it will not be repeated. They don't act like 5 year olds who need a spanking.

And quite frankly, I don't give a rats ass about who PMs you about engaging on this forum. I've seen a few of the PMs you have sent other people too, and I don't mind telling you, despite how "distressed" you claim to be about other people's behaviour, with THAT kind of behaviour, its no wonder people want you to leave!

I'll also point out, my family has been in the plantation business at least as far back as the 1940s, and we STILL are, I've lived on estates since I was BORN, and I can tell YOU, despite your "no risk" theory, not only is watchman correct in EVERY point he has made, there are MORE risks than what he has mentioned. He is also correct in the analysis of the kind of person you have to be to run a successful plantation.

Edited February 11, 2013 by Pericles

[Rumesh88]

The Central Bank does not exist to issue warnings of the status of privately owned Finance Companies.

CB is the regulator. They can and will issue warnings to Finance Companies if they find irregularities or non-compliance to the licensing conditions. CB is empowered to revoke licenses issued to Finance Companies. Of course they do not exist to issue warnings to the public on the status of a privately owned Finance Company while it is still in business under their license.

[Batteries]

If you really need to invest in these finance companies do it only for small durations. Like 1 or 3 months. The returns will be less but also less worries. Otherwise go for a reputed bank like the PMB which is backed by the government. If you invest more than 1 million they give you special rates.

I think Only Bank that has government guarantee is NSB. Other government does not.

[Sylvi]

For one thing, not all your warning are issued by me. For another, you can stop blaming watchman for your warnings, most of them are because you misbehaved, not coz of Watchman. And we explain WHY the warning is given so you can LEARN from it and STOP doing it again. Which you seem to be missing out on if you think its coz of watchman!

Now I don't discuss warnings on the open forum, but there are plenty of people with active warnings around, they just don't go whining about it. Most of them take it in the proper spirit, and most even reply to admit their fault and say it will not be repeated. They don't act like 5 year olds who need a spanking.

And quite frankly, I don't give a rats ass about who PMs you about engaging on this forum. I've seen a few of the PMs you have sent other people too, and I don't mind telling you, despite how "distressed" you claim to be about other people's behaviour, with THAT kind of behaviour, its no wonder people want you to leave!

I'll also point out, my family has been in the plantation business at least as far back as the 1940s, and we STILL are, I've lived on estates since I was BORN, and I can tell YOU, despite your "no risk" theory, not only is watchman correct in EVERY point he has made, there are MORE risks than what he has mentioned. He is also correct in the analysis of the kind of person you have to be to run a successful plantation.

Joint Moderator Mr.Pericles,

I totally disagree to your post.

Plantation was my ancestors first did in Colombo Ceylon. Dutch brought our families from down south to kollupitiya to plant Coconut. My entire family and fore fathers grew up in Polwatte Kollupitiya. That is in recorded in history.

A short note taken from the web.

The Polwatte begun by Ambanwela Rala became so prosperous later, that according to the late Mr. Gamini Samarasinghe, the prolific banker - writer, either in the late Dutch period or the early British period a brewery commenced here turning coconut treacle to liquor. The beer turned out had been of such high quality that it had been very much in demand and had at one time was exported even to towns in South India.

The house in which lived the head of this brewery business, according to this writer, is the nucleus of the present Temple Trees!

However, Ambanwela Rala's progeny, perhaps who did not flee with him to Kollupitiya to escape the king's wrath had got domiciled later at Ratnapura. So Ambanwela Rala, the temporary bachelor, hailing from the Kandyan backwoods was very adventurous and reckless as to plan the overthrow of a powerful king, and then by a stroke of luck has his neck saved from the scaffold and comes down to the lowlands and signs his way to become the proprietor of an extensive coconut estate is really the author of present Kollupitiya with its soaring skyscrapers, maddening traffic and thronging crowds.

This is part of my history in Kollupitiya Colombo.

All my ancestors did plantation very successfully in every part of the country they lived happily and left all of them to their future generations to come.

There can be natural disasters like recent Tsunami. Like what happened to British plantation in first years of their occupation in Ceylon. Later Tea was planted.

Now days world had advanced much more than yesterday, even what you read on your monitor if because of advancement of the modern technology.

I do not want to discuss about the past. You have Quoted from Bible to me and requested to give the other cheek if you are slapped to one cheek.

Watchmen I have ignored him. He has a habit of joking to me on this forum for my posts. Moderators should look into this.

Watchmen started first posting a post to my post with a negative reply. On investment. Which I have given facts.

I have reported him number of times on the request of moderator. Moderator have done the justice.

Other members will laugh on this Automobile forum. this forum is started for posts must contain automobile related matters to discuss. With their experiences.

I amend arguments and unpleasant posts accusing each other.

Let me end this.

Sylvi Wijesinghe.

[Pericles]

Joint Moderator Mr.Pericles,

I totally disagree to your post.

Plantation was my ancestors first did in Colombo Ceylon. Dutch brought our families from down south to kollupitiya to plant Coconut. My entire family and fore fathers grew up in Polwatte Kollupitiya. That is in recorded in history.

A short note taken from the web.

The Polwatte begun by Ambanwela Rala became so prosperous later, that according to the late Mr. Gamini Samarasinghe, the prolific banker - writer, either in the late Dutch period or the early British period a brewery commenced here turning coconut treacle to liquor. The beer turned out had been of such high quality that it had been very much in demand and had at one time was exported even to towns in South India.

The house in which lived the head of this brewery business, according to this writer, is the nucleus of the present Temple Trees!

However, Ambanwela Rala's progeny, perhaps who did not flee with him to Kollupitiya to escape the king's wrath had got domiciled later at Ratnapura. So Ambanwela Rala, the temporary bachelor, hailing from the Kandyan backwoods was very adventurous and reckless as to plan the overthrow of a powerful king, and then by a stroke of luck has his neck saved from the scaffold and comes down to the lowlands and signs his way to become the proprietor of an extensive coconut estate is really the author of present Kollupitiya with its soaring skyscrapers, maddening traffic and thronging crowds.

This is part of my history in Kollupitiya Colombo.

All my ancestors did plantation very successfully in every part of the country they lived happily and left all of them to their future generations to come.

There can be natural disasters like recent Tsunami. Like what happened to British plantation in first years of their occupation in Ceylon. Later Tea was planted.

Now days world had advanced much more than yesterday, even what you read on your monitor if because of advancement of the modern technology.

I do not want to discuss about the past. You have Quoted from Bible to me and requested to give the other cheek if you are slapped to one cheek.

Watchmen I have ignored him. He has a habit of joking to me on this forum for my posts. Moderators should look into this.

Watchmen started first posting a post to my post with a negative reply. On investment. Which I have given facts.

I have reported him number of times on the request of moderator. Moderator have done the justice.

Other members will laugh on this Automobile forum. this forum is started for posts must contain automobile related matters to discuss. With their experiences.

I amend arguments and unpleasant posts accusing each other.

Let me end this.

Sylvi Wijesinghe.

What total and utter bullshit. I don't care care if your family was the coolies who had to pluck the coconuts from the trees 400 years ago, that has NO relevance to running a plantation today! My dad is still in planting today. Is your coconut plantation running today?

I know you don't want to discuss this, because MY knowledge on the plantations is much more thorough and up-to-date that yours, and you don't have anything to say except some utter vague generalities and stupid generalizations!

When you are told something by someone who knows, shut up and learn from it!

[The Don]

I think the Sri Lankan government now runs a deposit protection scheme on the wake of various scandals like "Sakvithi". I believe the upper limit for protection is 200K per company (basically if the company goes under the government of Sri Lanka will compensate you up to 200K per company so you will lose anything above it).

There are 24 odd authorized financial companies in Sri Lanka and investing in any of them will give you the above protection as long as you don't invest more than 200K (don't quote me on the figure as this is based on a newspaper advertisement by the Central bank I read when I was down in December but the scheme is real) with a given organisation.

But the only problem is the Sri Lankan government not the central bank does not have a good reputation of honoring pledges like this and as you also know they have now gotten into the habit of ignoring the Supreme Court as well. So whether any compensation materializes will be a completely different issue!

[Crishan]

How good is LB Finance for Fixed Deposits as they seem to be offering Tv's and Smart phones for depositors are they safe what are the best FD interest rates now and in safe organisations (banks or central ban apporved ones)

More Advertisments, Gifts, Prizes, Draws etc. means the establishment is in need of cash desperatley.

Look around the market. Some banks offer low interest rates with zero advertising for liability products (FD's + savings) but the stability of the bank is high. As Jdnet stated, take a look at Ratings (Fitch preferbley), Annual reports to get a better knowledge of the institution. Also Gold is a good comodity to invest in.

[Sylvi]

What total and utter bullshit. I don't care care if your family was the coolies who had to pluck the coconuts from the trees 400 years ago, that has NO relevance to running a plantation today! My dad is still in planting today. Is your coconut plantation running today?

I know you don't want to discuss this, because MY knowledge on the plantations is much more thorough and up-to-date that yours, and you don't have anything to say except some utter vague generalities and stupid generalizations!

When you are told something by someone who knows, shut up and learn from it!

[Sylvi]

What total and utter bullshit. I don't care care if your family was the coolies who had to pluck the coconuts from the trees 400 years ago, that has NO relevance to running a plantation today! My dad is still in planting today. Is your coconut plantation running today?

I know you don't want to discuss this, because MY knowledge on the plantations is much more thorough and up-to-date that yours, and you don't have anything to say except some utter vague generalities and stupid generalizations!

When you are told something by someone who knows, shut up and learn from it!

Pericles,

You are sadly mistaken. You are behaving like uncivilized men. You read your post over and over again.

There is the oldest Coconut tree in Kollupitiya, which was planted by my late mother in my garden. I preserve same for remembrance of my ancestors profession.

I have no shame to say originally my ancestress did Coconut plantation and tap toddy, in Plowatte now Kollupitiya. I am born still living in my ancestress land.

I am at age of 70 years still can climb a Coconut tree and pluck Coconuts. I have one tree in my garden back 60 years old.

I am proud to live in Kollupitiya. Remembering the past of our ancestors how they came to Colombo what they did originally for their living.

Very few in Colombo can be proud To say we live in our ancestors property. Also their Genealogy.

I post under for your reference from a part copied from the web. about our ancestors.

###############################################################################################################################

Despite the above setbacks, several members of this caste emerged as successful entrepreneurs in the British colonial market economy and were recognised as members of the local elite. They were involved in the freedom movement and early political reforms.

Current status

They were converted to Catholic religion soon after arrival of Portuguese colonials in 1505 ACE. Using this opportunity they have upgraded themselves viz. a vie the dominant Govigama caste. They along with other southern Sinhalese castes such as Karave and Salagama have played an important role in the historically left political and right parties. They are mostly Theravada Buddhists today and were instrumental in the revival of Buddhism during the British colonial period. The un-Buddhistic practice of caste discrimination introduced into the Sangha by the Siyam Nikaya in the late 18th century has been overcome by patronising the Amarapura Nikaya and the Ramanna Nikayas. Sitinamaluwe Dhammajoti (Durawa) was the last nongovigama monk receive upasampada before the 1764 conspiracy^[1] The community leaders have an influential say in modern Sri Lankan politics.

Some Ge names

• Hevage House of the soldier in such forms as Golu Hevage, Mamu Hevage and Punchi Hevage.
• Panikkalage Houe of the martial-arts guru
• Ranavirage House of the war hero
• Henanayakage House of the Commander-in-chief
• Bettage House of the bard
• Thantrige House of the priest, expert, master (or thrice honoured)
• Lansage House of lance-bearers
• Kodikarage House of the flag-bearers
• Kodituvakkuge House of the gunners
• Dunu Vidi Hevage House of the archers
• Vedage House of the physician, House of the teacher
• Hettige House of the merchant
• Kovilage House of the temple or Kovil
• Enderage House of the herdsman
• Liyanasekara House of the scribe
• Manage ...
• Hewamanage ....
• Gajanayake ...
• Witharanalage ...
• Biyanvilage ...
• Agalagamage ...
• Suduweli Kandage(S.K.).......
• Samaraweera.......
• Wickramasinghe.......
• Wellalage.......
• Gajadeera.......
• Gallage.......
• Adambarage.......

Along with these names they also use Iberian derived surnames such as Perera, De Mel and Peiris along with countless others.

Notable people

• Most Venerable Palane Siri Vajiranana Maha Nayaka Thera (He was the greatest Exponet of the Buddha's Doctrine in the 20th Centuary 1878-1955)
• Rajakiya Panditha Madihe Pannaseeha Maha Nayaka Thera
• Poetess Gajaman Nona
• Cumaratunga Munidasa
• C.V. Goonaratne - Former Cabinet Minister
• Dr. A. T. Ariyaratne - Founder of the Sarvodaya movement
• Gamini Fonseka - Movie star, former Governor of Western Province
• Vijaya Kumaranatunga - Movie star,politician
• Milinda Moragoda - Former Cabinet Minister of Justice and Law Reforms
• Mangala Samaraweera - Former Cabinet Minister and Matara district MP ^[2]
• Chandrasiri Gajadeera - Cabinet Minister and Matara district MP
• Mahinda Amaraweera - Cabinet Minister and Hambantota district MP
• Professor.Chandra Wickramasinghe
• Dr.Lal Jayawardena - Economist and ex High Commissioner to United Kingdom
• Anoja Weerasinghe (née Siriwardana) - Movie star
• Prof.Ranjith Senarathne - Former V.C University of Ruhuna
• Romesh Kaluwitharana - Cricketer
• Pramodya Wickramasinghe - Cricketer
• Bernard Soysa - Former Minister and Party leader
• S.K Piyadasa - Former Minister and Matara district MP
• Dr. Jayalath Jayawardane - Gampaha district MP
• M.S. Fernando - Singer
• Andare Adikaram-
• N.U Jayawardana - First Governor of central bank of Sri Lanka and founder of Sampath bank.
• Pro. Chandrasiri Palliyaguru

Sylvi Wijesinghe.

[HardHat]

Which is why you would consult a good (certified) financial advisor or invest in a fund run by a good (certified) portfolio manager. You don't go about self-medicating when you get sick do you? No, you go consult a professional. Same thing really...

As for financial advisors and portfolio managers, in case you are thinking of using the services of one, find one whose fees are based on how well your investments made upon their advice perform. Avoid ones who charge upfront fees or fixed fees for their services.

[Watchman]

awesome...

A thread about LB Fin@nce, went OT into alternate investment plans and now its become about sylvi's coconut tree... hahaha!!

PS: and he wonders why he gets warnings

Edited February 14, 2013 by Watchman

[Pericles]

Pericles,

You are sadly mistaken. You are behaving like uncivilized men. You read your post over and over again.

There is the oldest Coconut tree in Kollupitiya, which was planted by my late mother in my garden. I preserve same for remembrance of my ancestors profession.

I have no shame to say originally my ancestress did Coconut plantation and tap toddy, in Plowatte now Kollupitiya. I am born still living in my ancestress land.

I am at age of 70 years still can climb a Coconut tree and pluck Coconuts. I have one tree in my garden back 60 years old.

I am proud to live in Kollupitiya. Remembering the past of our ancestors how they came to Colombo what they did originally for their living.

Very few in Colombo can be proud To say we live in our ancestors property. Also their Genealogy.

I post under for your reference from a part copied from the web. about our ancestors.

###############################################################################################################################

Despite the above setbacks, several members of this caste emerged as successful entrepreneurs in the British colonial market economy and were recognised as members of the local elite. They were involved in the freedom movement and early political reforms.

Current status

They were converted to Catholic religion soon after arrival of Portuguese colonials in 1505 ACE. Using this opportunity they have upgraded themselves viz. a vie the dominant Govigama caste. They along with other southern Sinhalese castes such as Karave and Salagama have played an important role in the historically left political and right parties. They are mostly Theravada Buddhists today and were instrumental in the revival of Buddhism during the British colonial period. The un-Buddhistic practice of caste discrimination introduced into the Sangha by the Siyam Nikaya in the late 18th century has been overcome by patronising the Amarapura Nikaya and the Ramanna Nikayas. Sitinamaluwe Dhammajoti (Durawa) was the last nongovigama monk receive upasampada before the 1764 conspiracy^[1] The community leaders have an influential say in modern Sri Lankan politics.

Some Ge names

• Hevage House of the soldier in such forms as Golu Hevage, Mamu Hevage and Punchi Hevage.
• Panikkalage Houe of the martial-arts guru
• Ranavirage House of the war hero
• Henanayakage House of the Commander-in-chief
• Bettage House of the bard
• Thantrige House of the priest, expert, master (or thrice honoured)
• Lansage House of lance-bearers
• Kodikarage House of the flag-bearers
• Kodituvakkuge House of the gunners
• Dunu Vidi Hevage House of the archers
• Vedage House of the physician, House of the teacher
• Hettige House of the merchant
• Kovilage House of the temple or Kovil
• Enderage House of the herdsman
• Liyanasekara House of the scribe
• Manage ...
• Hewamanage ....
• Gajanayake ...
• Witharanalage ...
• Biyanvilage ...
• Agalagamage ...
• Suduweli Kandage(S.K.).......
• Samaraweera.......
• Wickramasinghe.......
• Wellalage.......
• Gajadeera.......
• Gallage.......
• Adambarage.......

Along with these names they also use Iberian derived surnames such as Perera, De Mel and Peiris along with countless others.

Notable people

• Most Venerable Palane Siri Vajiranana Maha Nayaka Thera (He was the greatest Exponet of the Buddha's Doctrine in the 20th Centuary 1878-1955)
• Rajakiya Panditha Madihe Pannaseeha Maha Nayaka Thera
• Poetess Gajaman Nona
• Cumaratunga Munidasa
• C.V. Goonaratne - Former Cabinet Minister
• Dr. A. T. Ariyaratne - Founder of the Sarvodaya movement
• Gamini Fonseka - Movie star, former Governor of Western Province
• Vijaya Kumaranatunga - Movie star,politician
• Milinda Moragoda - Former Cabinet Minister of Justice and Law Reforms
• Mangala Samaraweera - Former Cabinet Minister and Matara district MP ^[2]
• Chandrasiri Gajadeera - Cabinet Minister and Matara district MP
• Mahinda Amaraweera - Cabinet Minister and Hambantota district MP
• Professor.Chandra Wickramasinghe
• Dr.Lal Jayawardena - Economist and ex High Commissioner to United Kingdom
• Anoja Weerasinghe (née Siriwardana) - Movie star
• Prof.Ranjith Senarathne - Former V.C University of Ruhuna
• Romesh Kaluwitharana - Cricketer
• Pramodya Wickramasinghe - Cricketer
• Bernard Soysa - Former Minister and Party leader
• S.K Piyadasa - Former Minister and Matara district MP
• Dr. Jayalath Jayawardane - Gampaha district MP
• M.S. Fernando - Singer
• Andare Adikaram-
• N.U Jayawardana - First Governor of central bank of Sri Lanka and founder of Sampath bank.
• Pro. Chandrasiri Palliyaguru

Sylvi Wijesinghe.

NONE of which has ANY relevance to running any kind of plantation today.

Again, When you are told something by someone who knows, shut up and learn from it!

[Rumesh88]

Relevance aside, but it was interesting to read the ancestry of Polwatte. I do not intend to drawn into any contentions but IMO planting coconut is a high risk investment at present because of various new strains of fungi and other diseases affecting the plantations.

BTW our "Gay" names and "polwalu" seems to hv something in common.

[Pericles]

Relevance aside, but it was interesting to read the ancestry of Polwatte. I do not intend to drawn into any contentions but IMO planting coconut is a high risk investment at present because of various new strains of fungi and other diseases affecting the plantations.

BTW our "Gay" names and "polwalu" seems to hv something in common.

"Ge" names. And I didn't understand polwalu. Possibly might be trying to pronounce it wrong. What does that mean?

[Rumesh88]

"Ge" names. And I didn't understand polwalu. Possibly might be trying to pronounce it wrong. What does that mean?

Nothing serious! Just a metaphoric use of the two words. Some SLs are said to be gay by default because they are so named. "Polwalu" is the term for a "bunch" of coconuts.

[liya]

Love reading Coconut Uncles posts

[Pericles]

Nothing serious! Just a metaphoric use of the two words. Some SLs are said to be gay by default because they are so named. "Polwalu" is the term for a "bunch" of coconuts.

Ah, its two words..

And I happen to have a pretty long wasagama myself The terror of govt forms everywhere.

[GTAm]

Incredible thread. Hilarious.

Getting back to the topic I think I am in a position to make a few small comments. I am an independent stock broker and a licensed investment advisor so I will part my humble opinion based on the research I have access to.

Although the CBSL is the regulator of FCs they have continually done it very poorly. So many of them have gone under, under their very noses. This is a very sad state as most retail investors have no guidelines or advice to go on when it comes to fixed income investment. The conventional wisdom is to stay with banks. Here too there is at least two banks, whose financial stability is.....how shall I put it........."less comfortable". Considering the many blunders and irrational ad-hoc decisions made by the CBSL in recent times I am not surprised.

However most SRi Lankan private banks are in great health! COMB, HNB, SAMP, NTB to name a few.

I am not going to name the FC that I think are bad here, but believe me there are many including large ones and ones backed by large groups. However they splash a lot of money on advertising and promos which many gullible customers will fall for. Some are plain ugly, some are scary. I would think twice about a FC that's in the same group as one that is in the gambling industry wouldn't you?

However I can name one FC which I think is very solid and it's not the one mentioned here. It's an old large one that hails from Kandy. They are very conservative and cautious. I believe that they are very safe and could be considered if you get a serious premium on the interest over the banks. There maybe other smaller ones but I have not had the time or need to research in to them.

Now please note I have absolutely no connection with the company I recommended. I don't know anyone there and have never been a customer there. I'm just giving my opinion here based of publicly available data.

[Crosswind]

dude, I can think of at least three old, (fairly) large finance companies that hail from kandy

[The Don]

dude, I can think of at least three old, (fairly) large finance companies that hail from kandy

I think he is referring to the biggest and the best known, if I'm not mistaken it starts with "The"

[Sylvi]

NONE of which has ANY relevance to running any kind of plantation today.

Again, When you are told something by someone who knows, shut up and learn from it!

Mr. Pericles,

You cannot shut my mouth.

I have to die to shut my mouth.

Or Have to kill me.

I have happily lived my full life of seventy years.

Time will come every human being to shut his or hers mouth.

Sylvi Wijesinghe.

[jaga]

I think he is referring to the biggest and the best known, if I'm not mistaken it starts with "The"

I also think the same. It is very reliable and doing very good for last 25 years or so. Only thing is interest rates are more or less the same as established private banks (e.g.Sampath)

[Watchman]

Mr. Pericles,

You cannot shut my mouth. I have to die to shut my mouth. Or Have to kill me. I have happily lived my full life of seventy years. Time will come every human being to shut his or hers mouth.

Sylvi Wijesinghe.

Shit just got real!!!

Did Peri threaten to kill you? you should PM him some filth like you did to me and then act like a goody-little-two-shoes and cry on the forum... and then ask the Hon Joint Moderator to spank the vile creature that abused you... ohh wait ...

[The Don]

I also think the same. It is very reliable and doing very good for last 25 years or so. Only thing is interest rates are more or less the same as established private banks (e.g.Sampath)

The other real issue with FCs are it is quite impossible to get your deposits out at maturity in a timely manner. My poor parents who are in their late 60s were given the run around by both a popular insurance company which takes deposits (this took a number of weeks to resolve) and another FC as well. This nearly caused a serious problem once because the withdrawal was to pay some medical bills.

Needless to say we were very disappointed with the customer service particularly of the afore mentioned insurance company.

I thought the UB offer on 3 months deposits was recently reasonable considering the rate compared to rates offered by FCs.

[jdnet]

Damn it. Took a break for a week andthen I miss a good unkel/watchman thread