ESL becomes Lanka's first licensed Non Bank Primary Dealer
Making a debutant entrant to the equity market Entrust Securities
Limited (ESL), a licensed Primary Dealer (PD) appointed by the Central
Bank of Sri Lanka (CBSL) to exclusively deal in Government Securities
such as Treasury bills and bonds, has become the first ever local Non
Bank Primary Dealer entity to be listed in the Colombo Stock Exchange.
Director Operations Romesha Senerath, Independent Non
Executive Director - Kishantha Nanayakkara, Group Executive
Director/CEO - A.H.M. Riyaz Independent, Non Exeuctive
Director - Harsha N De Silva and Director Finance, Lakmali
Wickremasooriya at the launch.
Picture by Sumanachandra Ariyawansa |
The company has been an active Primary Dealer for the past eleven
years creates history in the local debt market by being the first
regulated Non Banking entity under the Public Debt Department of CBSL
that would get listed in the Colombo bourse. Commenting on this
distinctive accomplishment Entrust Securities Group Executive
Director/CEO A.H.M. Riyaz said "it's another feather in our cap of
achievements, especially for Primary Dealer entity that has also been a
catalyst in the development of the local debt market by popularsing
investments in government Securities".
The company has already obtained formal regulatory approval from CSE
for the listing of 33,000,014 ordinary voting shares by way of
Introduction on the Diri Savi Board and trading of shares would commence
shortly.
As one of the pioneering licensed Primary Dealers in Sri Lanka,
Entrust Securities Limited has been servicing an extended clientèle,
ranging from Government entities, Cooperative Societies, Captive
Sources, Fund Managers, Listed and Unlisted Corporates, High Net Worth
individuals etc. with the intention of actively promoting investments
and trading opportunities in Treasury Bills and Bonds.
The company was one of the few PDs that worked hand in hand with
Senior Officials of the Central Bank, Public Debt Department to promote
and create awareness of Government Securities amongst the local
community by conducting "Investor Awareness" seminars in selected towns,
out of Colombo. A subsidiary of Entrust Limited, the company's financial
performance over the past years had indicated a gradual growth and its
prudent decision making and risk-mitigation strategies have stood in
good stead, amidst external financial shocks experienced in the recent
past.
A recent communique issued by the company also announced the
reconstitution of its Board of Directors and eminent personalities and
professionals in the corporate arena are on board in the capacity of
Independent and Non Executive Directors, adding muscle to its present
directorate. Nihal Rangala has been appointed as the Chairman whilst
Nalin Jayasuriya, Harsha N De Silva, Kishantha Nanayakkara has been
appointed as Independent Non Executive Directors strengthening the
present Board members comprising Group Executive Director/CEO A.H.M.
Riyaz, Director, Finance Lakmali Wickremasooiya and Director Operations
Romesha Senerath the executive team of Entrust Securities. |