Former director to buy besieged MTD

Business

Sep 9, 2019
188
0

A former MTD Walkers PLC director will buy the beleaguered construction firm, the company told the Colombo Stock Exchange (CSE) in a letter, the CSE website said on Monday.

Ravindranath Srilal Wijeratne better known as Ravi Wijeratne, owner of Rank Holdings who was a former director at MTD mired in losses will be buying its Malaysian investors' shares, the letter which was received by the CSE last Friday said.

So, MTD Capital Berhad will be shedding 90.78 per cent shares, the letter said. Last year Mr. Wijeratne resigned from the board. (DEC)