Asia Siyaka buys out rubber broking unit

Asia Siyaka Commodities Ltd. has decided to buy a 100% stake in licensed rubber broker Siyaka Produce Brokers Ltd., from Siyaka Management Ltd. (SMPL), for Rs. 7 million.

Asia Siyaka said the move was in line with the disclosure made in its introductory document wherein intention to expand the current portfolio by venturing into rubber broking industry was revealed.

Anil Cooke and Dammika J. Wedande, Executive Directors of Asia Siyaka, are also Directors of SMPL. The two of them as well as U.A. Sirisekera and Rogan Iddawela are Executive Directors of Asia Siyaka, as well as shareholders of Siyaka Ltd., the 100% owners of the rubber broking firm.