Financial Times

Mundogas to wind up?
Mundogas, the third player in the liquefied petroleum gas market that started operations with a lot of fanfare, is to be wound up. A petition to wind up Mundogas Lanka (Pvt) Ltd., owned by Ariyaseela Wickramanayake was presented to the Mount Lavinia district court on October 29 by Mundoga SA of Hong Kong. It is to be heard on February 3, 2005.

However, Mundogas chairman Ariyaseela Wickramanayake denied the company is to be wound up. Asked by The Sunday Times FT about plans to close the company, he described as a mistake an advertisement which appeared in the newspapers last week about the winding up of the firm.

But attorneys-at-law F.J.& G. De Saram, which is handling the winding up process, confirmed the court application to wind up Mundogas.

Wickramanayake is also owner of salvage and underwater repair services firm Master Divers, with which Philippines-based Mundo Gas entered into a partnership to import and sell gas.

At the time Wickramanayake entered the market he spoke of big plans to challenge multinational Shell Gas Lanka and provide gas at cheaper prices. He also promoted a controversial effort to enable gas suppliers to use each other's cylinders which was subsequently abandoned because of restrictions imposed by copyright laws.

Later, Wickramanayake complained of being blocked by the authorities when he had problems using a floating gas barge anchored at Galle port. Port authorities said the barge was denied access to port as Wickramanayake had failed to pay port dues and provide insurance certification.

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