The transition at Dhammika Perera-controlled Royal Ceramics PLC (Rocell) was smooth last week as the relationship between the main shareholder and its former Managing Director Nimal Perera had been more or less been strained almost two years ago, sources close to both parties said. On the back of stepping down from Chairman / Non Executive [...]

The Sunday Times Sri Lanka

Transition at Dhammika’s Rocell ‘smooth’

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The transition at Dhammika Perera-controlled Royal Ceramics PLC (Rocell) was smooth last week as the relationship between the main shareholder and its former Managing Director Nimal Perera had been more or less been strained almost two years ago, sources close to both parties said.

On the back of stepping down from Chairman / Non Executive Director at Dhammika Perera led firms – Horana Plantations, Vallibel One and his resignation as a director of other Perera controlled firms such as Hayleys PLC, Nimal was replaced at Rocell by Aravinda Perera, a director at Hayleys and formerly CEO at Sampath Bank in which the senior businessman has 15 per cent.

Lauded as the largest earning employee in a firm in the country, Nimal Perera acquired the controlling interest of Tangalle Bay Hotel under his company – N Capital a few years ago and some in his camp say that he may get into hotels. He told the Business Times that he may get into politics. Nimal, according to those in his clique, was responsible for bringing Vallibel One to be one of the largest conglomerates in Sri Lanka.

But he was rewarded handsomely for his efforts, the senior businessman’s camp insists.

The Perera split was in the making, as far back as two years when Dhammika Perera did his large acquisitions such as Amaya Beach, and the stake in Nawaloka and his hotel foray into Maldives without his ‘right hand’s assistanc., His faction insists that he won’t get anyone else ‘close’ to Nimal in the future as this was a lesson. “He will not get anyone else to execute his acquisitions in the future,” a source close to him, added.

 

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