An 8.4 per cent stake of JKH was bought in 2012 and 2013, using EPF money, at prices ranging between Rs. 240 and Rs. 320 per share.

Of them, Rs. 71 million worth of shares were bought at Rs. 320 per share.

Investors prefer to buy JKH shares as their investments give them good returns, with shares maintaining high prices and with regular dividend payments.

However, with the knowledge of the then president Mahinda Rajapaksa, Cabraal had sold the EPF-owned JKH shares at Rs. 194 per share.

At the time, a JKH share was worth Rs. 320 per share, and the loss was Rs. 45 billion.

The buyer is a Malaysian investment fund Khazanah Nasional Berhad.