TransAsia Advisors clarifies

Friday, 26 October 2012 02:24 - - {{hitsCtrl.values.hits}}

With reference to the Daily FT page 1 article yesterday based on UNP MP Lakshman Kiriella’s allegations against a reinsurance arrangement of Sri Lanka Insurance, TransAsia Advisors clarified that it did not “fox” anybody.

“The simple fact of the matter is that TransAsia won a Government tender, by being the lowest bidder and saving precious foreign exchange for SLIC and its client. All the necessary documents duly stamped from London reinsurers are available with SLIC for clarifications or with CPC if COPE wants to look at the actual facts,” TransAsia Advisors said.

It also said it is a duly licensed entity operating out of the UAE from 2007 as advisors and intermediaries.

“An intermediary does not carry the risk. This is but one instance based on the limited but skeletal references found in the news item. We wish you and indeed the honorable committee members (COPE) had at least tried to establish correspondence with our firm before publishing such inaccurate information in the public media. Regrettably we have not received a single communication from either the honorable committee or your esteemed publication till date,” the statement added.