Arthur Senanayake issues statement on Vidya Amarapala

Friday, 29 April 2016 00:00 - - {{hitsCtrl.values.hits}}

In reference to recent media reports on the Panama papers and the resignation of Vidya Amarapala, IWS Holdings Chairman Arthur Senanayake has issued the following statement:

It has been mentioned in the media and on the websites that Vidya Amarapala had been a Director of Sovereign Capital Corporation which belongs to Arthur Senanayake. This is to inform that Sovereign Capital Corporation is a Singapore-based company owned by Singaporean shareholders and that at any given time this company did not belong to Arthur Senanayake.

Sovereign Capital Corporation is a joint venture partner with a company namely IWS Logistics (Private) Limited belonging to Arthur Senanayake which is a BOI approved logistic hub established in 1999.

Vidya Amarapala had been appointed by Sovereign Capital Corporation as a Director solely for the purpose of signing documents, leases, rentals, agreements and other official documents. As an appointed Director he had no share holding or stake in Sovereign Capital Corporation. Vidya Amarapala joined one of the companies belonging to Mr. Arthur Senanayake on 18 June 1991 as Sales Manager and resigned after 19 years prior to taking up the position of Chairman, Ceylon Electricity Board. It is made to understand that he resigned from the position of Director Sovereign Capital Corporation simultaneously.