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Colombo Stock Exchange’s Billionaires

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1Colombo Stock Exchange’s Billionaires Empty Colombo Stock Exchange’s Billionaires Sun Mar 27, 2011 2:28 am

shan


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Dhammika Perera

Extensive diverse holdings including: Pan Asia, Vallibel One, LB Finance, Lanka Aluminium, Sampath Bank, Royal Ceramics, Vallibel Finance, Hayleys, Connaisance, Amaya, Fortress. Brokers estimate that Perera is worth around Rs. 70 Billion taking the top slot, similar to Warren Buffet and the “Buffetology” concept he has unknowingly created “Dhammikology” which some investors have followed and made billions! The Sri Lankan Equivalent of Warren Buffet’s company Berkshire Hathaway, is the recently launched “Vallibel One” which created unprecedented euphoria amongst investors. The recently concluded Private Placement was oversubscribed considerably. His most famous graduate would be the Stock Trader, Nimal Perera who has graduated as a billionaire along with many others silently following Dhammika Perera’s investments. His investments in the stock market have been more acquisition led than trading.

Harry Jayawardena

One of Sri Lanka’s most controversial and successful businessmen, is widely held to control Distilleries Company of Sri Lanka, Stassens Exports, Millford Exports and Aitken Spence through indirect companies and has a variety of significant holdings usually held indirectly in entities such as HNB and Commercial Bank. Has a reputation for managing companies extremely well and brokers confirm that Jayawardena is one of the more active strategic investors on the Colombo Bourse. However due to a lack of transparency in ownership and the involvement of various shareholders it is near impossible to accurately estimate his net worth and web of companies. Recently Harry Jayawardena became for all intents and purposes a “wealth creator” when his Stassen’s warehouseman, Ronald Perera became a billionaire following the sale of a tranche of shares in CDB Exports.

Indra Silva

Has established himself as something of a specialist in finance sector shares, focusing on banks. His portfolio includes strategic holdings in a variety of major listed companies and brokers credit him with investing heavily during the war.

Ishara Nanayakkara

Of LOLC fame, Nanayakkara has been an active strategic investor along with members of his family. Nanayakkara has recorded big capital gains especially made when being positive about Sri Lanka’s economy during the “war years”. Nanayakkara told The Sunday Leader, that after watching the events over the years, they identified a different approach to the eradication of terror on the island from 2006 onwards and had no hesitation in being positive. With the family fortune estimated at well over Rs. 7 Billion, the Nanayakkaras appear to have made the right decisions.

Ravi Thambiayah

of Renuka Hotel fame is a seasoned investor on the Colombo Stock Exchange with holdings in a variety of companies. NDB Bank, DFCC are a few to be mentioned and he too benefited by investing during the war and taking that risk.

Ajith Devasurendra

The former “King of Bonds” is a prolific investor on the Colombo Bourse and has a diverse portfolio. Having traded on the Colombo exchange for a number of years Devasurendra is reported by brokers to having made easily in excess of Rs. 2 Billion on trading. Devasurendra was part of the group that took control of Browns Group in 2005 just as hostilities restarted.

Shankar Somasunderam

Founded Lanka Bell in 1994 and acquired the controlling interest at Browns Group along with his partners in 2005 just as the hostilities restarted. An active investor and trader in blue chip stocks Shankar has a financial background having started his career at Walker & Greig, the predecessors to Environmental Resources (ERI).

Nimal Perera

Nimal Perera is easily Sri Lanka’s most prolific stock market trader. His investment strategy is purely driven by profit and Perera hardly ever takes a medium or long term investment. His entry and exits are usually quick. Financial sources estimated that Perera had twice found his wealth reduced to zero before he embarked on his now successful route. Perera is his own mentor, an avowed ‘Dhammikologist’ and his unpredictable decision making has led to claims that he cares very little for the fundamentals — whether his stocks are blue chip or chocolate chip. His strategy reflects raw market sentiment. Estimated to be worth at least Rs. 4 Billion, he sits on the boards of many Dhammika Perera companies.

Dr. R. Sentheivel

With a diverse portfolio, Dr. Sentheivel is easily the least known publicly but well known to the financial markets. Brokers confirm that with just the one strategic purchase made during the war, he netted gains in excess of Rs. 1 Billion. A strategic investor usually in for the long haul.

Ashok Pathirage

The Softlogic pioneer, has expanded rapidly and created Softlogic Holdings with over a dozen businesses under that umbrella. Pathirage is credited with having invested heavily but strategically during the war years, enabling his companies to gain control and record impressive capital gains. Companies under his belt include Asiri Hospitals, Uni Walkers, Central Hospitals. When contacted he said he does not buy to sell tomorrow, but with a long term strategic view of taking control.

Eshana De Silva

The youngest of the prolific investors on the stock market, whose investment in LB Finance during the war of a mere Rs. 50+ Million for a 10% stake has earned him capital gains of over Rs. 1 Billion last year just on this share alone. Brokers confirm that De Silva has traded strategically in the market, netting some Rs. 3 Billion in the process in capital gains realised and unrealised.

Dr. Sena Yaddehige

Based in the United Kingdom Dr. Yaddehige holds a lucrative patent for products that are widely used in Mercedes Benz and BMW cars. In Sri Lanka the financial market reports him as being strategic and he has taken control of Richard Pieris and Company. He exited Asia Capital at the same time as having interests in the media which he has now divested.

Nahil Wijesuriya

With his purchase of the Continental Hotel it appeared that Wijesuriya had met his waterloo. His strategic investment paid off handsomely when he sold his controlling interest in the hotel just as the war was being won. He reaped handsome capital gains when he sold the hotel to Hayley’s controlled by Dhammika Perera.

Doomsday Soothsayers
Warren Buffet, has this to say of Financial Analysts: “Wall Street is the only place that people arrive in a Rolls Royce to get advice from those that arrive by Subway”. Sri Lanka has its own share of financial pundits / analysts who have like colleagues elsewhere in the world, got it spectacularly wrong at times, but especially wrong when it came to predicting how the market would respond after the war. A case in point was the advice sent out by Amal Sanderatne of Frontier Research. In November 2010 he actively asked investors not to buy stock in financial institutions like banks. History has shown that Sri Lankan banks and finance companies have made spectacular gains in their share prices since and investors in those shares have seen their fortunes increase dramatically.

thesundayleader.lk

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Much more realistic list than the previous sundayleader list but this time they missed Captain, Page & Aloysius families.
Also the Carsons group owner.

nathanfornash


Senior Equity Analytic
Senior Equity Analytic

How did Dhammika's value go from 30 billion to 70 billion between the first list and this? Also who is this aloysious chap? Are they related to the infamous "Aloysious Mudalali" of premadasa fame?

SmartMoney

SmartMoney
Senior Equity Analytic
Senior Equity Analytic

nathanfornash wrote:How did Dhammika's value go from 30 billion to 70 billion between the first list and this?
Previous list was "Billionaires of CSE" , it only talked about their investments in the CSE . According to that Dhammika Perera had invested 36 Billion in CSE alone . 70 Billion is his net worth including all his businesses & assets . pirat

osandacooray


Stock Trader

Interesting Article .
I really Enjoyed being here .

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