DHAMMIKA BECOMES KING OF TILES

Sri Lanka's Tile Market in the hands of a monopoly

     Dhammika Perera who is a well-known businessman in Sri Lanka bought 79% of shares of Lanka Ceramics Co, day-before-yesterday through Royal Ceramics Co, belonging to him and with that transaction he has bought over Royal Ceramics, Lanka Wall Tiles, Lanka Tiles and thus claims authority on Lanka Tiles and the Aluminium market. Dhammika Perera who is the chief of Vallibel Holdings says that with this acquisition he would be actively managing about 1/10ths if listed companies in the country. Royal Ceramics Co, which is a unit of the listed Vallibel Holdings belonging to Mr.Dhammika Perera, according to a previously signed agreement had purchased 79% of shares of Lanka Ceramics Co, belonging to Ceylon Theatres for a value of 2.9 billion rupees day-before-yesterday.

    With this purchase, apart from the mother company Lanka Ceramics Co; Lanka Wall Tiles, Swisstek and Horana Plantations companies came under the management of Mr.Perera's business kingdom. Expressing ideas about this he said, his companies have got hold of the monopoly of Ceramic Tiles and the aluminium industry in the local market. Hayleys Holdings where Mr.Dhammika Perera has 44% shares bought over holdings shares of the aluminium company Alumex for a value of 2.1 billion rupees in the year 2010. He personally owns 29% of shares of another listed aluminium company, Lanka Aluminium. He further said that by now he manages a total of 28 of the 280 companies that are listed locally at present. While there are 07 companies listed under Vallibel Co., 09 are listed under Hayleys Co.

    Apart from this, Mr.Perera manages the companies Vallibel Finance and Vallibel Power Erathna. In the same way he has a significant number of shares in Fortress Resort, Pan Asia Bank and Sampath Bank while also holding shares in unlisted electric generator companies and casinos.