EPF, ETF lose hundreds of millions in investment in Laugfs Gas

Financial statements show that Laugfs Gas, whose 2020/2021 annual report is titled ‘Igniting Hope’ in big, bold letters, has state shareholders including the Employees Provident Fund, the Employees Trust Fund Board, the Bank of Ceylon, and some well known private investors.

 

Shareholdings of some public institutions in Laugfs Gas, have sharply declined in value by hundreds of millions of rupees.

 

The EPF has a 17.28% interest in Laugfs Gas as a shareholder with voting rights, while the ETF has a 0.06% interest.

 

An EPF statement shows that the fund’s equity holding with voting rights in Laugfs Gas has a market value of Rs 1.29 billion as of June 30 this year.

 

Its holdings in Laugfs Power of Rs 815.34 million had a market value of Rs 230.38 million.