By Ishara Gamage
Ceylon Finance Today: Entrust Group led by Chanuka Ratwatte and team is planning to diversify its financial business in to investment banking and Unit Trust industry while planning to list its third subsidiary in the Colombo Stock Exchange, a Group official told Ceylon FT.
We are about to acquire an existing Unit Trust, he said.
According to the Official, they have already commenced their investment banking business by recruiting two industry veterans into the group. Former Securities and Exchange Commission market development consultant Rohan Seneviratne is heading the Investment banking unit.
"We have already involving several corporate restructuring, Initial Public Offering ((IPO) and securitization projects," he remarked.
The Entrust Group has recently injected Rs 2.5 billion in troubled Standard Credit Finance Ltd which was formerly known as Ceylinco Investments & Realty Ltd. (CIRL). CIRL was one of the distressed regulated finance companies under the management of the Ceylinco Group.
Entrust Securities PLC has been in the forefront since year 2000 as a leading market player in promoting Sri Lanka's sovereign, gilt edged investments of Treasury bills and bonds and the other subsidiary; Multi Finance PLC has been in business for the past forty one year's offering a diversified portfolio of products ranging from leasing, hire purchases, pawning, fixed deposits, saving accounts and other types of loans.
The group expanded its business activities in the capital markets with a strategic acquisition in a stock broking firm and is actively involved in the equity markets through, its subsidiary Entrust Capital markets (Private) Limited.
www.ceylontoday.lk
Ceylon Finance Today: Entrust Group led by Chanuka Ratwatte and team is planning to diversify its financial business in to investment banking and Unit Trust industry while planning to list its third subsidiary in the Colombo Stock Exchange, a Group official told Ceylon FT.
We are about to acquire an existing Unit Trust, he said.
According to the Official, they have already commenced their investment banking business by recruiting two industry veterans into the group. Former Securities and Exchange Commission market development consultant Rohan Seneviratne is heading the Investment banking unit.
"We have already involving several corporate restructuring, Initial Public Offering ((IPO) and securitization projects," he remarked.
The Entrust Group has recently injected Rs 2.5 billion in troubled Standard Credit Finance Ltd which was formerly known as Ceylinco Investments & Realty Ltd. (CIRL). CIRL was one of the distressed regulated finance companies under the management of the Ceylinco Group.
There is a Central bank plan for restructure this distressed company. Hopefully we will plan to list this entity with some additional funding and convert old CIRL deposits in to shares, the official said.
Entrust group, is a cluster of Companies consisting of two listed and regulated subsidiaries namely Entrust Securities PLC, a licensed Primary dealer and Multi Finance PLC, a licensed finance Company with the Central Bank of Sri Lanka.
Entrust group, is a cluster of Companies consisting of two listed and regulated subsidiaries namely Entrust Securities PLC, a licensed Primary dealer and Multi Finance PLC, a licensed finance Company with the Central Bank of Sri Lanka.
Entrust Securities PLC has been in the forefront since year 2000 as a leading market player in promoting Sri Lanka's sovereign, gilt edged investments of Treasury bills and bonds and the other subsidiary; Multi Finance PLC has been in business for the past forty one year's offering a diversified portfolio of products ranging from leasing, hire purchases, pawning, fixed deposits, saving accounts and other types of loans.
The group expanded its business activities in the capital markets with a strategic acquisition in a stock broking firm and is actively involved in the equity markets through, its subsidiary Entrust Capital markets (Private) Limited.
www.ceylontoday.lk
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