Asia Capital divests 10% stakes in three firms for Rs. 783 m

• Announces three new Independent Non-Executive Directors

Asia Capital PLC has received Rs. 783 million by divesting minority shareholdings in three companies.

They are Galle Heritage Lanka Ltd., (10%), Marine Drive Hotels Ltd., (10%), and Miriandhoo Maldives Resort (10%). Asia Capital also cancelled the Memoranda of Understanding (MoUs) entered into with these companies.

Separately, the company also announced the appointment of three new Independent Non-Executive Directors – Adrian Perera, Bradley Emerson, and Ganesh Shanmugam.

Adrian Perera is a Fellow Member of the Association of Chartered Certified Accountants (ACCA) (UK), Fellow Member of the Chartered Institute of Management Accountants (UK), Chartered Global Management Accountant, Fellow Member of the Certified Management Accountants of Sri Lanka, Associate Member of the Institute of Chartered Accountants of Sri Lanka, Associate Member of the Institute of Bankers of Sri Lanka, Life Member of the Association of Professional Bankers of Sri Lanka, Fellow and Founder Member of the Certified Professional Managers of Sri Lanka, Founder Member of the Commonwealth Association of Accountants, and a Member of the Sri Lanka Institute of Directors. 

Perera has a Master’s degree in Business Administration from the Postgraduate Institute of Management, University of Sri Jayewardenepura, Executive Diploma in Business Administration from the University of Colombo, Postgraduate Diploma in Diplomatic and World Affairs from the Bandaranaike International Diplomatic Training Institute (BIDTI) and is a Registered Company Secretary. He has attended training programs locally and internationally extensively. 

He is the former Chairman of ACCA Sri Lanka and was a Governing Council Member of the Certified Management Accountants of Sri Lanka and CIMA (UK) Sri Lanka division.

He has over 30 years’ experience in banking, finance, treasury, hospitality, agriculture, manufacturing, and information technology. He was the Group CEO of Thinnvali Hotels (Jaffna) and Thinnai Farms (Jaffna), Director of Sascon Property Development Ltd. and Sascon Holdings Ltd., Director/Audit Committee Chairman of Britex Holdings Ltd., and former Director – Corporate Affairs of Oasis Hospital Ltd., now renamed as Kings Hospital Ltd.

Previously, he served as the COO of Equicapitals Investment Ltd. and was instrumental in setting up the first overseas investment for Lanka ORIX. He also served as the Founder/Chief Executive Officer of Lanka Rating Agency Ltd., formerly known as RAM Ratings Lanka, Director of Kelsey Development PLC, Audit Committee Chairman and RPT Committee Member at George Steuart Asset Management Ltd., and as Audit Committee Chairman and Member of the Investment Committee.

Bradley Emerson is a seasoned professional with over four decades of expertise in banking, education, and strategic leadership. He holds an MBA from the University of Sri Jayewardenepura, is a Fellow of the Institute of Bankers of Sri Lanka, and has an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants (UK). He is currently pursuing a Doctor of Business Administration (DBA).

Emerson’s banking career includes pivotal roles at Commercial Bank, Nations Trust Bank, and Pan Asia Bank, where he served as Deputy CEO. Notably, he played a transformative role in Pan Asia Bank’s turnaround and rebranding. He also held a senior position at Bank of Oman, Bahrain, and Kuwait, overseeing central and branch operations. 

In 2007, Emerson joined CIMA (UK) as Regional Director for South Asia and the Middle East, driving exponential growth in the CIMA brand across Sri Lanka and beyond.

His leadership extended to the education sector as Executive Director of the Imperial Institute of Higher Education, where he introduced innovative MBA and DBA programs. An accomplished educator, Emerson lectures in Strategic Management and International Business and is a visiting faculty member at renowned institutions across South Asia. He is also a certified systemic team coach and Founder of Business Athletes Ltd.

Ganesh Shanmugam is an experienced business leader. He currently serves as a Director at Aramex (M) Sdn. Bhd., a role he has held since 2013, following his tenure as the Country Manager from 2011 to 2012. Prior to joining Aramex, he was the Managing Director at Avanti Worldwide Express Sdn. Bhd. from 2000 to 2010. 

Shanmugam holds a Master of Business Administration (MBA) and a Bachelor of Science in Marketing from Southern Illinois University, Carbondale, Illinois, USA.

With a robust skill set that includes operations management, customs regulations, import, export, and supply chain optimisation, he brings over two decades of expertise in driving operational efficiency and strategic growth.