The Colombo Stock Exchange last week came under a shock when business magnate Nimal Perera, stepped down from the boards of several key companies.
The move had resulted in speculations of fallout with Dhammika Perera, who is also an influential businessman and his mentor.
Accordingly, Nimal Perera had resigned as a director of Hayleys, Haycarb, Kingsbury, Amaya Leisure and Talawakelle Plantations, and also as Managing Director of Royal Ceramics.
Nimal Perera, was reported to have said that he had quit the companies in order to focus on building his own business involving stock brokering and manufacturing.
He said during his 13-year period, company’s assets grew from Rs 500 million to present Rs 5 billion levels and profitability also grew from Rs 40 million level to Rs 4 billion level.
“Now I’m 58 years old and there will be only a few more years to work before the retirement. So, I decided to build my own businesses with my two sons who were nearing completion of their overseas higher education,” Perera had said.
Both the Pereras were not available to comment.