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Friday, February 4, 2011

Sri Lanka’s Daya Group of Companies seek listing on Colombo Bourse

By Santhush Fernando - Colombo

Colombo, 08 January, (Asiantribune.com): Sri Lanka’s Daya Group of Companies, which had forayed into many business segments from apparels to construction and aviation to finance, is seeking a listing on the Colombo Stock Exchange (CSE).

This was revealed at the Dealer Convention of the Daya Trading (Pvt) Ltd held on January 4, with the attendance of Leader of the Opposition and Leader of the United National Party (UNP) Ranil Wickremesinghe who was the Chief Guest at the event.

UNP’s Deputy Leader Karu Jayasoriya, Parliamentarians Jospeh Micheal Perera, John Amaratunga, Sajith Premadasa, Wijedasa Rajapaksa, Ajith Perera, Dr Anoma Gamage (Managing Director of Daya Group) and several distinguished invitees were also present.

Its dynamic Chairman Daya Gamage, had transformed an investment of a mere 70 rupees or US $ 8 made way back in 1977, into a fully-fledged billion rupee group of companies.

According to Daya Group, two decades ago its initial venture was in the area of construction, with the setting up of Daya Construction (Pvt) Ltd. However, later on it marked successful entries in to so many other business areas, such as apparels, sugar manufacture, leisure, aviation, transport & logistics, etc. Nearly 10,000 persons are currently employed in its subsidiaries.

Since its inception in 1992, Daya Apparels has become one of the top five garment manufacturers in Sri Lanka, having long-term close relationships with world-renowned brands such as K-Mart, Wal-Mart, Tesco, JCPenny, American Eagle, Woolwoth’s, Macy’s, Mother Care, Bhs, Target & The Inditex group.

Its finance subsidiary - Bimputh Lanka Investments Limited (BLI) was incorporated with an objective to engage in the business of providing financial services to the general public and in particular to the out growers of sugar cane in and around Sevanagala. It offers fixed deposits, savings, leasing and hire-purchase products, and was registered as a Finance Company with the Central Bank of Sri Lanka on October 31, 2008 under the Finance Companies Act No 78 of 1988.

source - www.asiantributne.com