- Dec 31, 2019
- in News
Ishara Nanayakkara Becomes the Richest Man in SL
ශ්රී ලංකාවේ ධනවත්ම පුද්ගලයාව සිටි ධම්මික පෙරේරා අභිබවා LOLC ව්යාපාරයේ සභාපති ඉෂාර නානායක්කාර ශ්රී ලංකාවේ ධනවත්ම පුද්ගලයා වී තිබේ.
LOLC සමූහ ව්යාපාරයට අයත් කාම්බෝජියාවේ ක්ෂුද්ර මූල්ය ආයතනයක් කොරියානු බැංකුවක් විසින් ඩොලර් මිලියන 603.4කට මිලට ගෙන ඇත. එනම් ශ්රී ලංකා මුදලින් රුපියල් බිලියන 108.5ක මුදලකි.
මින් පෙර ශ්රී ලංකාවේ ධනවත්ම පුද්ගලයා බවට පත්ව සිටි වැලිබල් වන් සමාගමේ සභාපති ධම්මික පෙරේරා ඇමෙරිකානු ඩොලර් මිලියන 550 ක වත්කම් සමගින් 2013 වසරේදි මෙරට ධනවත්ම පුද්ගලයා බවට පත් විය.
ඉෂාර නානායක්කාර LOLC සමූහ ව්යාපාරයේ 50%කට වඩා හිමිකම් දරනා අතර ඔවුන්ට ලොව බොහෝ රටවල විවිධ ක්ෂේත්රයන්ගේ ව්යාපාර පවති.
Ishara Nanayakkara becomes the richest man in Sri Lanka
Ishara Nanayakkara becomes the richest man in Sri Lanka Empty Ishara Nanayakkara
Ishara Nanayakkara becomes the richest man in the country surpassing Dammika Perera. In 2013, Perera became Sri Lanka's wealthiest individual with a net worth of LKR72.6 Billion (approx. $550 Million).
Ishara Nanayakkara has surpassed Dammika Perera as a result of A Korean bank interest to buy LOLC’s Cambodian microfinance arm for a staggering $ 603.4 million or Rs. 108.5 billion, subject to regulative approval. As a result of this LOLC capitalization has magnified to Rs seventy billion.
Ishara Nanayakkara owns over 50% LOLC Holdings that owns LOLC’s Cambodian microfinance arm. With the projected sale his asset value has magnified over Rs one hundred billion surpassing Dammika Perara.
Korea Herald reports kb Kookmin as saying can shut the deal within three months when due diligence and approval from monetary authorities in Korea and the Kingdom of Cambodia.
No full revelation nonetheless for Rs. 108.5 b imminent deal by LOLC, however, share worth soars
No one microfinance deposit-taking establishment in the Kingdom of Cambodia offers ROE and ROA of 28.40% and 3.64%, severally
Generated Rs. 13.7 b profit in FY19
Has a portfolio of $ 2.2 billion, the deposit base of $ 1.5 billion and makes vital PBT contribution to LOLC Group’s bottom line
A Korean bank is to buy LOLC’s Cambodian microfinance arm for a staggering $ 603.4 million or Rs. 108.5 billion, subject to regulative approval.
The Korean firm is kb Kookmin Bank, which aforesaid its Board has united to buy a 70% stake in Cambodia’s PRASAC Microfinance establishment for $ 603.4 million from LOLC.
PRASAC Microfinance is that the No. one microfinance deposit-taking establishment, seizing over 40% of market share in the Kingdom of Cambodia with 177 branches.
A report in Korea Herald declared that kb Kookmin can shut the deal among 3 months when due diligence and approval from monetary authorities in Korea and the Kingdom of Cambodia.
The deal is anticipated to permit kb Kookmin to consolidate its consumer banking network within the Southeast Asian country. operative six bank branches, kb Kookmin attained preapproval in the Kingdom of Cambodia for the acquisition in might. kb Kookmin aforesaid it plans to buy the remaining 30% stake within the establishment a minimum of 2 years when the dealings.
PRASAC Microfinance logged a KRW 91.5 billion ($78.7 million) net income in 2018, up 36.7% on-year, in step with kb financial Group’s regulative filing.
Investors, apparently seeing new worth and demand, yesterday pushed LOLC shares to 3rd highest gainer, percentage-wise.
LOLC closed at Rs. 145.70, up by Rs. 16.70 (or 13%) while it hit an intra-day high of Rs. 148.90. little over a million shares modified hands via 1,217 trades for Rs. 149.3 million with the majority of the selling coming from foreign investors. For the week, LOLC gained by Rs. 19 or 15%.
Despite media reports of imminent sale as unconcealed by LOLC Deputy Chairman Ishara Nanayakkara in a very Bloomberg interview, LOLC has been less revealing formally.
Following the publication of Bloomberg article in the foot, in a very filing to the CSE on 12 December, LOLC aforesaid upon bound parties indicating their interest in getting a stake in PRASAC Microfinance, Cambodia, LOLC has been within the method of exploring prospects of purchase of the whole or a part of its holding. In any event, the sale would force previous approval of the national bank of the Kingdom of Cambodia.
LOLC group MD and CEO Kapila Jayawardena aforesaid no conclusiveness has been reached with relevancy the execution of any such dealings. “An announcement is created to the Exchange if it culminates in very conclusive dealing,” he added. the same stance was maintained in a very recent revelation yesterday.
The report in Korea Herald was revealed on Thursday (26 December).
The Cambodian operations are a part of LOLC’s strategic and profitable diversification within the Southeast Asian region.
The regional growth of the group has delivered extraordinarily strong ends up in diversifying and equalization the exposure LOLC has within the native market. to the current impact, 85% of LOLC pre-tax profit is presently derived from investments in the Kingdom of Cambodia, Myanmar, Pakistan, Indonesia, and the Philippines.
This growth momentum is clear from the LOLC Group’s maiden overseas investment in PRASAC, which has matured to become the biggest microfinance establishment within the dollarised Cambodian economy. With an ROE and ROA of 28.40% and 3.64%, severally, a portfolio of $ 2.2 billion, a deposit base of $ 1.5 billion, and a big profit before tax contribution to the Group’s bottom line, PRASAC offers substantial come back on investment in dollar terms through the Group’s 70% holding within the Company. it's a client base of over 400,000.
Although a comparatively new entrant to the Cambodian MFI performers, LOLC Kingdom of Cambodia (LOCAM) has currently positioned itself because of the most profitable MFI in Cambodia with an ROE of 27.90%, ROA of 4.10%, the fourth largest portfolio and deposit base of $ 564 million and $ 286 million, severally.
In less than 5 years since LOLC’s investment, LOCAM has up the ladder within the Kingdom of Cambodia microfinance landscape to be the third most profitable MFI in the country.
PRASAC Microfinance establishment in the Kingdom of Cambodia and LOLC Cambodia stands out because of the 2 largest foreign investments created by LOLC and contributes along 40% to the Group’s prime line. PRASAC generated a profit of Rs. 13.7 billion in FY19 whereas the LOLC Kingdom of Cambodia recorded a profit Rs. 3.8 billion.
LOLC additionally has presence in Myanmar – LOLC Myanmar Microfinance Company Ltd., a Greenfield operation, has mature to be counted because the third-largest among 176 microfinance establishments within the country, with an asset base of $ 52.4 million, portfolio of $ 39.5 million and PBT of $ two million among 5 years of commencing operations in Myanmar.
The Company has currently gained attention from distinguished international investors thanks to its distinctive business model mirrored through the standard portfolio and the growth potential in-store with the easing of the Myanmar market.
Extending its microfinance experience, LOLC additionally has operations in Indonesia and the Philippines.
LOLC’s foreign investments within the financial services sector account for Rs. 593 billion as total assets within the books of LOLC and have contributed a Profit when Tax of Rs. 17.9 billion to the group for the year ended 31 March 2019. The disposal portfolio of foreign businesses amounts to Rs. 497 billion with a deposit base of Rs. 311 billion.
LOLC in its FY19 Annual Report declared that it absolutely was a matter of pride that the Group’s overseas growth has been undertaken strictly on the strength of the financial services excellence and knowhow as well as IT expertise that exports to its overseas operations.
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