Nimal to sit in Hayleys Board
Former investment advisor Nimal Perera is likely to acquire a seat in
the Board room one of the Lankan leading blue-chip companies Hayleys
Group, its sources said.
Currently, Perera is the Deputy Chairman of Pan Asia Bank and the
Managing Director of Royal Ceramic Limited and is likely to be appointed
to the main Director Board of Hayleys Group shortly, stock market
“We now own 21 per cent of stake in Hayleys and are expecting two
seats in the board. The company have now invited for one position in the
board, which Dammika Perera is expected to occupy while the balance seat
is expected to be invited shortly,’ he said.
Perera said they have spent Rs 2 billion to purchase Hayleys shares
in the stock market up to now and expect to purchase more shares in the
A six per cent stake in Sri Lanka’s Hayleys group was owned by Carson
and Cumberbatch controlled companies and was bought by businessman
Dhammika Perera recently.
The Ceylon Investments Company sold a stake in Hayleys amounting to
1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358
shares to Perera, brokers said.
Hayleys group has a market capitalisation of Rs 9.37 billion, which
is 1.15 per cent of the total market.
Hayleys has achieved a robust sales growth in the recent years
through the expansion of its traditional businesses and by venturing
into new areas. The company has taken initiatives to set up offshore
manufacturing units to broaden its manufacturing capacity and ensure
better access to raw materials in several business sectors.
Fitch expects this to add more stability to the operating results of
the company. The company however, notes that much of Hayleys’
investments have been debt-financed.
Hayleys PLC is one of Sri Lanka’s largest and most diversified
conglomerates and has been established for more than 125 years.