Adam Investments buys 12.5 mn shares of Ceylon and Foreign Traders

Dr Ali Asger Shabbir Gulamhusein and Danushya Mediwake Wethasinghe Gulamhusein controlled entity Adam Investments purchased 8.9% stakes of Ceylon & Foreign Trades via a private crossing on the Colombo Stock Exchange.

Dr Ali Asger Shabbir Gulamhusein serves as Chairman of the Board of Adam Investments Limited.

He holds a PhD from Tokyo, Japan and a Degree from King’s College London, UK. Dr Gulamhusein also serves as advisor to the Ministry of Justice, Ministry of Co-operatives and Internal Trade .

Danushya Wethasinghe Gulamhusein has served as an Executive Director of Adam Investments from the inception of the company.

She holds a degree in Psychology and Business Management (UK). She also serves as an advisor to the Ministry of Justice and the Ministry of Co-operatives and Internal Trade.

Adam Investments Limited was incorporated in 2011, to focus on key growth industries that play a pivotal role in the country’s economy.

The companies that function under Adam Investments are, Adam Apparels (Pvt) Ltd., a premier manufacturer and exporter of garments for leading global fashion labels.

For 3 decades this company has contributed to the largest export earning industry in the island, which despite local and international challenges, has continued to grow steadily year on year.

Adam Metals (Pvt) Ltd which is one of the oldest manufacturers of metal hardware items in the island is expertly positioned today to take advantage of the rapidly booming construction/infrastructure development projects in the island.

Network Communications (Pvt) Ltd is the group’s IT/Electronics arm. With the rapid urbanization of the island and the government’s systematic drive to push the ICT industry forward, Network Communications shows a very promising future as a key player in a growing ICT industry in the future Sri Lankan.

The group recently inaugurated two new companies, namely Adam Automobiles (Pvt) Ltd and Adam Air Conditioners (Pvt) Ltd. In 2011/2012 Sri Lanka saw its largest ever volume of vehicle imports.

Thus, Adam Automobiles (Pvt) Ltd was conceived with the aim to provide spare parts and services to cater to the rapidly increasing demand for these items. 2012 saw a drop in importation of consumer electronics except for three items, which were, TVs, mobile phones and air conditioners.

Since the group is already engaged in the importation of TVs and mobile phones through Network Communications (Pvt) Ltd., Adam Air Conditioners (Pvt) Ltd was inaugurated to tap the growing demand for air conditioning systems in the country and the company has already place the purchase orders and opened L/C to import Air Conditioners from China.