Unity Plaza one of the leading shopping malls in the country that is owned by On'ally Holdings PLC. According to an Insider of On'ally Holdings in the coming year the company may thus make significant losses.
Major shareholder of On'ally Holdings is Urban Development Authority (over 47%) and Gulamhusein family with Dr. Ali Asger Shabbir Gulamhusein led Ceylon & Foreign Trades PLC has over 35% with some stakes being held in Margin accounts at Pan Asia Bank, Commercial Bank and Waldock Mackenzie Ltd.
Board also has Brian Selvanayagam and his Brother Shehan Selvanayagam as with another lady of their family have a stake along with them counting to over 5%.
Brian is currently the Sri Lankan head of London based - Chartered Institute for Securities & Investment which is close to St.Anthony's Mawatha at Colombo 03, which has recently tied up with Sri Lanka's SEC and CSE to provide discipline and technical education certifications from UK just like CIMA and CIM.
Brian is also a Director of CIM Sri Lanka region. His brother Shehan Selvanayagam currently manages Facebook Fanpages of Cargills, Cargills Food City, KFC, Pizza Hut, and several other 30 brands under a company called Loops Solutions with nearly 20 staff.
However some investors, and SEC insiders raise concerns on issues including 'Conflict of Interest' issues such since Brian is a Director of On'ally a listed entity and since being the head of - Chartered Institute for Securities & Investment - an Educational Regulatory body of UK that also hopes to have major ties with Sri Lankan Stock Market Regulator SEC.
Some raise concerns in Sri Lanka whether it is qualified UK people hired Brian after looking at his actual profile of professional qualifications and connections.
According to students at Chartered Securities and Investments, although Brian heads the CISI (Chartered Institute for Securities & Investment) it is highly doubtable of his experience on Investments and Security Trading) as looking at On'ally Holdings and connection of mismanaged companies such as PC House that are main revenue contributors to On'ally it seems students now want a new properly qualified head to run local operations.
Many insiders from Loops solutions highlights that Using CISI- Chartered Institute for Securities & Investment) connections and foundation Brian is trying to influence with CSE and SEC to bring revenue to his brother's company by bidding to handle twitter accounts of CSE and SEC and Facebook Fanpages of both.
Loops currently charge in the range of Rs.200,000 per annum to handle Cargills, KFC fanpages each and has recently increased the charge after worms were found in KFC Rice in one of the branches to increase positioning of KFC in Sri Lanka.