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Sri Lanka cricket body has Rs3bn hole in balance sheet

Dec 03, 2011 (LBO) - Sri Lanka Cricket, the islands' governing board for the sport where state intervention has increased over the years, has a three billion rupee hole in its balance sheet, a parliamentary committee on state enterprises has found.
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A report by a committee on public enterprises (COPE) said SLC had 6.
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1 billion rupees in debts and only 3.
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1 billion rupees in assets.

It was not mentioned whether a going concern caution was raised by auditors but the sports body had not provided some information requested by the state auditor general, the report said.

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It had also sought a loan from state-run Bank of Ceylon.


The cricket board was expecting a payment from the International Cricket Association, provided audited accounts are forwarded, the committee had been told.



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The cricket board had built a stadium in Hambantota in Southern Sri Lanka through state-run Sri Lanka Ports Authority. The reason given was that the port agency "has the necessary equipment for the construction work," the report said.

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Though construction costs for three grounds in Hambantota, Pallekelle and Khettarama had been 3.3 billion rupees the total spending has escalated to 7.

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18 billion rupees.

The parliamentary committee had also expressed d

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