Employees Union of Ceylinco Insurance reacts to GRI story
Thursday, 9 April 2015 01:34
-
- {{hitsCtrl.values.hits}}
We, the employees of Ceylinco Insurance wish to clarify our stand regarding a recent newspaper article titled ‘GRI keeping close tabs on CIESOT fund after Court decision,’ published in the Daily FT by a shareholder, named Global Rubber Industries, which expresses concern regarding the share allotment of CIESOT and subsequent employee benefits.
Our management has repeatedly assured us that once the shares are disposed of in the near future, the proceeds will be distributed amongst employees, past and present, and that they have also communicated the criteria for allotment of shares, according to the trust deed, with which we are fully convinced and satisfied.
As always, we uphold the values inculcated by our company through our management, and we rest assured that we can resolve any issue with our management, without any animosity, as we have done during the past 27 years. Hence, we cannot fathom why Global Rubber Industries is so worried regarding our rights and benefits.
It is this very same shareholder who tried to grab our company and our Employees Trust Fund, in connivance with highly-placed officials of the former administration, in an attempt to deprive us of the benefits offered to us by the company, in recognition of our loyalty. It is crystal clear to us that Global Rubber Industries is shredding crocodile tears, and trying to create an atmosphere of unpleasantness amongst Ceylinco employees, after failing miserably in its efforts to take control of our company.
Our company has been in existence for over 26 years, and our management has provided us with unprecedented facilities and benefits, while creating an environment in which we work among friends, under excellent working conditions.
We cannot understand the moral right of a shareholder, who has purchased shares from a third party recently, to interfere with the operations of our company, which has maintained its market leadership, undisputedly, for the past eleven years, while winning several international and local awards of the highest repute.
Even if Global Rubber Industries decides to dispose their stock of shares, they could now fetch a price more than five times their investment, which certainly augurs well and indicates how the company has progressed over the years.
We have no faith and will never have confidence in an individual, who has been running companies engaged in the rubber and fish industries, and we are yet to understand what contribution such a person could make to an insurance company, that has excelled in the Sri Lankan arena for nearly three decades.
We, as employees, wish to reiterate to Global Rubber Industries or any other shareholder that we will never allow outside parties or people with vested interests to take undue advantage of our company for their personal gain, and we will continue to fight and stand firm to safeguard our beloved company, which has been built up to its present stature, with the honest sweat and tremendous efforts of present and past employees.
