New World Securities (Pvt) Ltd (NWS) is the newest stockbroker/dealer in Sri Lanka with its eyes on Japanese and Indian investors in addition to those here.
“Modern Sri Lanka…the ‘emerging giant of South East Asia’ is a force to be reckoned with and we at NWS are not just 100% confident but so proud to take our nation and its resources to the world as a viable investment opportunity,” noted Viraj Malawana, Director/ CEO of the new company in a statement this week.
Chairing the board is Takashi Igarashi while the deputy is Ono Teruaki, both prominent businessmen in Japan, the statement said.
It quoted Mr. Takashi as saying that the main objective of the company is to mobilize more funds into Sri Lanka’s capital markets. He said Sri Lanka is an emerging market and the potential for growth is enormous, and hoped to partner with identified Japanese stock brokers to solicit retail and individual Japanese clientele to invest directly in the Colombo Stock Exchange.
The management of funds for Japanese investors is another lucrative area NWS will be exploring through their partner fund managers and they have already commenced developing links with investment trust companies in Japan, he said.
CEO Mr Malawana brings with him vast experience he has gained from the Colombo Stock Exchange, Brunei Stock Exchange, stockbrokers in Sri Lanka as well as the banking sector. Having worked for two top international banks in Sri Lanka holding senior positions, he made a decision to return to the industry. He says (in the statement) that the experience he gained in different fields was an added facet to his portfolio and is extremely useful in this line of business.
NWS is controlled by a group of Sri Lankan, Japanese and Indian shareholders. The board of directors comprises a very impressive team of professionals, who account for many years of expertise and insight, not just into investment portfolios but in many spheres of the industry.
It includes former test cricketer Aravinda de Silva, veteran banker Mangala Boyagoda, Pan Asia Bank chairman A.G. Weerasinghe, long-time trader Jaliya Wijeratne and Indian fund manager Sandeep Bammeer. |
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