In reference to the article titled “Touchwood liquidator reveals attempts to dupe creditors again” published in the Business section of the Sunday Times on January 31, Sintech Plantation has denied the accusations made by the Touchwood Liquidator Sudath Kumar and clarified thus: “Sintech Directors are also property owners of Sandalwood and Mahogany and since they [...]

The Sunday Times Sri Lanka

Clarification on Touchwood liquidator’s statements

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In reference to the article titled “Touchwood liquidator reveals attempts to dupe creditors again” published in the Business section of the Sunday Times on January 31, Sintech Plantation has denied the accusations made by the Touchwood Liquidator Sudath Kumar and clarified thus:
“Sintech Directors are also property owners of Sandalwood and Mahogany and since they wished to maintain their properties Sintech Plantation Management (Pvt) Ltd was established as agro forestry plantations.

Since the formation of the company some of the legal owners with registered deeds have given Sintech to manage their invaluable properties. Sintech have never taken any property belonging to Touchwod Investments for maintenance. Sintech Plantation maintained the land belonging to individuals who have requested and Sintech Plantation provided this service, a fee was charged, which do not constitute an illegal activity. Later the other property owners with registered deeds have contracted Sintech to maintain their valuable biological asset.

“Mr. Channa Abeygunawardene was invited to the Board owing to his extensive experience and dedication to the agro forestry industry, with impeccable integrity. Success of Sintech Plantations Management (Pvt) Ltd is due to Mr. Abeygunawardene’s and his team’s recognition on capability by the land owners. ”The statement made by the Liquidator saying JAT was contracted by Touchwood to carryout maintenance of the company properties need to be challenged. We were made to understand that the liquidator has not issued such document to any organisation – the proof of which, has to be published.  ”We also understand JAT has filed a case against the liquidator in the High Court in Year 2014.
“The Board intends to take necessary legal action if this statement is not corrected by the liquidator.”

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