By Ishara Gamage
A leading corporate figure, one time close confidante of business tycoon Dhammika Perera and former Royal Ceramic PLC's (RCL) Managing Director Nimal Perera, on Friday acquired an 80% stake of the money broking firm Vishwin Money & Exchange Brokers Ltd for Rs 20 million, Nimal Perera said.
The remaining 20% stake was with an industry veteran and former employee of Vishwin Money & Exchange Brokers Ltd, he said.
Meanwhile, other sources also revealed that another money broking firm Navara Forex and Money Brokers Ltd was also recently acquired by few industry professionals, who were earlier attached to the MVS Money Brokers Ltd for Rs 22.5 million.
Speaking to Ceylon FT, Nimal Perera earlier said that he will re-enter the stock broking and money broking business with an acquisition of related companies.
Vishwin deal is his first acquisition since his separation from Dhammika Perera led Vallibel Group. Late April, he also sold his 6% PABC bank stake for Rs 500 million to fund his new business ventures.
After 13 years of continued services as a CEO/Managing Director of the Royal Ceramic PLC, Nimal Perera resigned from the company on 7 March to build his own business in stock broking, money broking, and manufacturing sector. He also resigned from the boards of Hayleys Plc, Haycarb, Amaya Leisure, The Kingsbury, and Talawakelle Plantations.
He then said during his 13 year period, Royal Ceramic PLC's assets grew from Rs 500 million to present Rs 5 billion levels and profitability also grew from Rs 40 million level to Rs 4 billion level.
"Now I'm 58 years old and there will be only a few more years to work before the retirement. So, I decided to build my own businesses with my two sons who were nearing completion of their overseas higher education," he earlier (March) told Ceylon FT.
He said he will soon acquire existing stock brokerage and money brokerage concern and enter a suitable manufacturing business.
In 2013 March, Perera was first reported as entering the stock broking industry again together with RCL through a deal to buy 51 % control of New World Securities Ltd (NWS). He bought a 32 per cent stake under his personal account whilst RCL purchased
a 19 %.
Perera continues to hold the Mercantile Produce Brokers Ltd (MPB) which he bought through his investment arm Don Wilbert Capital for Rs 200 million in 2014.
Nimal Perera last year sold his controlling shareholding of Kalamazoo Systems PLC, a provider of printing solutions for Rs 36 million.
Ceylon Today
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