Rs. 44.5 m fraud at Lanka Canneries

Tuesday, 12 February 2013 00:00 - - {{hitsCtrl.values.hits}}

A fraud estimated at Rs. 44.5 million at Lanka Canneries Ltd. has been confirmed by a forensic audit performed by KPMG.

Lanka Canneries ultimate owners Hunter and Company said in a filing to the CSE that a complaint to the CID is being made and will take action against those responsible and every effort will be made to recover the funds misappropriated.

Hunter’s 90.9% owned subsidiary Heath and Company (Ceylon) Ltd. owns 90% of Lanka Canneries Ltd.