would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc.. 
Home
Environmental Resources Investment PLC (ERI) says its director board is in the process of developing a new concept, similar to Micro Investment Banking.
“It is the idea of investment banking structured to accommodate the needs of very small companies. Using the idea and success of Micro Finance Banking, ERI hopes the new concept will allow new businesses to access Sri Lankan capital markets comfortably, ERI Chairman Lalith Heengama has said in the 2010 Annual Review.
Heengama further notes that his board is optimistic the bold and courageous steps taken, would enhance shareholder value in the Company. According to him, the forthcoming year will be special, as the Company reaches its 100th year in operation. “During the year under review, company’s market capitalization reached Rs.32 billion.”
“This significant turnaround was a result of the bold investment decision taken by our board after a successful rights issue with attached warrants. We were able to raise more than Rs. 2 billion through a 3:1 rights issue with attached warrants in July 2009.” He added that the rights issue funds raised more than Rs. 800 million, which was used to invest in entities with future potential and the rest in government securities.
According to Heengama, the company has initial investments in DNH Financial (Pvt) Ltd (formerly known as HNB Stock Brokers (Pvt) Ltd) and controlling interest of Ceylon Leather Products PLC (CLPL). During the year under review, further steps have been taken to acquire South Asia Textile Industries Lanka (Pvt) Ltd, Dankotuwa Porcelain (DPL) and also to invest in securities of Olancom (Pvt) Ltd, Enterprise Technology (Pvt) Ltd and Colombo Pharmacy Company PLC.
He also pointed out that the100% acquisition of Environmental Resources Limited (ERL), a company registered in the British Virgin Islands for a sum not exceeding USD 76 Million will help ERI to participate in opportunities arising in the global market.
However, in the annual financial highlights, Heengama has said, ERL focused on investing in the natural resources sectors in Africa. ERI has already sold its stake in January 2011 which was about 24 million shares of Eastern Platinum valued at US $ 35.5 million (nearly Rs.4 billion) that was held under Environmental Resources Ltd. in British Virgin Islands
In July 2007, UK-based Hedge Fund Manager, Lionhart Advisors Group headed Lionhart Investments Ltd., acquired a controlling stake in Sri Lanka’s Walker & Greig, a low performing listed shell company (at the time) for Rs.76 million.
“It is the idea of investment banking structured to accommodate the needs of very small companies. Using the idea and success of Micro Finance Banking, ERI hopes the new concept will allow new businesses to access Sri Lankan capital markets comfortably, ERI Chairman Lalith Heengama has said in the 2010 Annual Review.
Heengama further notes that his board is optimistic the bold and courageous steps taken, would enhance shareholder value in the Company. According to him, the forthcoming year will be special, as the Company reaches its 100th year in operation. “During the year under review, company’s market capitalization reached Rs.32 billion.”
“This significant turnaround was a result of the bold investment decision taken by our board after a successful rights issue with attached warrants. We were able to raise more than Rs. 2 billion through a 3:1 rights issue with attached warrants in July 2009.” He added that the rights issue funds raised more than Rs. 800 million, which was used to invest in entities with future potential and the rest in government securities.
According to Heengama, the company has initial investments in DNH Financial (Pvt) Ltd (formerly known as HNB Stock Brokers (Pvt) Ltd) and controlling interest of Ceylon Leather Products PLC (CLPL). During the year under review, further steps have been taken to acquire South Asia Textile Industries Lanka (Pvt) Ltd, Dankotuwa Porcelain (DPL) and also to invest in securities of Olancom (Pvt) Ltd, Enterprise Technology (Pvt) Ltd and Colombo Pharmacy Company PLC.
He also pointed out that the100% acquisition of Environmental Resources Limited (ERL), a company registered in the British Virgin Islands for a sum not exceeding USD 76 Million will help ERI to participate in opportunities arising in the global market.
However, in the annual financial highlights, Heengama has said, ERL focused on investing in the natural resources sectors in Africa. ERI has already sold its stake in January 2011 which was about 24 million shares of Eastern Platinum valued at US $ 35.5 million (nearly Rs.4 billion) that was held under Environmental Resources Ltd. in British Virgin Islands
In July 2007, UK-based Hedge Fund Manager, Lionhart Advisors Group headed Lionhart Investments Ltd., acquired a controlling stake in Sri Lanka’s Walker & Greig, a low performing listed shell company (at the time) for Rs.76 million.
