Sri Lankan Pioneer Businessman Dhammika Perera Life Story

Businessman Kulappuarachige Don Dhammika Perera’s story is somewhat similiar to the success stories of entrepreneurs of the calibre of Maliban Mudalali.

Venturing out into business at the tender age of 19 with no entrepreneurial background and not having the right connections nor the right social background as it were, and starting-out with only Rs 500 in his pocket, now, 15 years later, and in his prime of life at 34, his investments include banks, power projects, casinos, hotels and ships, worth several hundred millions, if not billions of rupees.

Perera’s achievements are many. He operates three successful casinos in the heart of Colombo, owns two cargo ships, is the single biggest shareholder of NDB with a 9% stake, has a 10% stake in PAB Bank (formerly Pan Asia Bank), a 29% stake in Royal Ceramics, a 20% stake in LB Finance, a 51% stake in Connaissance- in addition to serving in the main boards of those companies, owns two power projects, and the list goes on.

‘My investments in the stockmarket (his investments in NDB, Royal Ceramics, LB Finance and Connaissance were all made last year and this year) were possible in part, if not wholly, due to the support I received from Seylan Bank and Ceylinco consolidated chairman Lalith Kotelawala and Sampath Bank chairman Edgar Gunatunga and its managing director Anil Amarasuriya,’ says Perera.

‘When I wanted Rs 60 million from Seylan Bank to invest in NDB and Royal Ceramic shares last year, Kotelawala offered me Rs 240 million-a four fold increase,’ he said. And this year, when I wanted Rs 50 million from Sampath Bank, they offered me Rs 150 million instead, added Perera.

He invested in NDB by buying those shares at prices ranging from between Rs 20-60 a share. At present those shares command a price of Rs 90 a share. He further said that virtually all of his investments were providing him with a return higher than the interest charged by the banks on his loans. ‘I have no foreign partners. All of these monies required for my investments have been generated locally,’ he says. Perera attributes his success to hard work.

His life story is something like reading a story from one of those fairy tale books. ‘When I was 19, this was in 1987, my mother gave me Rs 500 to buy me a pair of shoes. At that time I had qualified to follow an NDT course on electrical and electronics at Moratuwa University.

But by then the JVP troubles had broken out and Campus was more closed than open. I’m from Paiyagala, Kalutara, having had my education at Taxila Vidyalaya, Horana. At that time I was living with my uncle who was running a cafe at Pettah.

There was a pavement hawker operating in front of my uncle’s restaurant. Instead of buying a pair of shoes, I lent him that Rs 500 on the understanding that he conducts his business on a profit sharing basis with me.

The life of a pavement hawker is a hard one. He starts his work early in the morning and continues till evening. He does not have time to relieve hinself nor does he have time to have his meals while hawking his goods. The only time he is free is when dusk sets in. Then he winds up his business for the day, said Perera.

So, this tie-up with this hawker brought me a return of Rs 200 on a daily basis, while my capital inveetment of Rs 500 remained in tact. This operation went on for three months, during which period I made a clear profit of Rs 74,000.

Then, I turned my hand to slot machines or jackpot machines as they are commonly known. I borrowed five such machines from Lal Wijeratne of Grayline Group.I had them installed at my uncle’s cafe in the Pettah-it was called Isurugiri Hotel.

My arrangement with Wijeratne was that I would keep 30% of the takings, while the balance 70% was for him. This was a successful business partnership. ‘But I was restless.’ I wanted to learn the technology of these slot machines.

Therefore I took wing to Taiwan to follow a six month technical course. This was in 1988 and I was 20 yearl at that time. By then I had dropped out from Moratuwa University.

But I returned from Taiwan in three months.Because it took me only that much of time to assmilate that technology. Then I started making my own slot machines and had them operable in his uncle’s cafe. As a result, all of the takings made from these machines were for me. There was no question of giving 70% of the share to the landlord, because I was now the landlord.

By then I had made enough money, enough to buy over my uncle’s cafe. And at 23, that was in 1991, I had millions and millions in my kitty, with 285 machines in operation.

But disaster struck in 1991. Ranasinghe Premadasa who was the president at that time imposed a ban on jackpot machines.Then What did you do? ‘I opened a car sales centre at my home in Paiyagala,’ said Perera. I called it Anuradha Traders. Currently we have four showrooms-at Kirullapane, Negombo, Kandy and Peliyagoda. I also ventured out into property development.

In 1993 I started my own casino business at Isurugiri. I called it Capricorn.

You see there are four major games played in a casino. Three of them are card games-Black Jack, Baccarat and Porker, and the other Roullete. Then in 1995 I opened up the MGM casino in Colombo-Iwas 27 at that time and followed it up by opening Ballys in 1996 and Bellagio in 1998.

The reason I have restricted entry into my casinos to only foreigners is because it is messy when the doors are also open to locals. ‘You know that shooting incident at the Carlton in 1998 which resulted in the death of Fijian ruggerite Joel Pera? So I feel that it is better to be safe than sorry. Therefore I have imposed these restrictions.

Most of the foreigners who patronise my casinos are Chinese, either from the mainland or Hong Kong or Singapore, says Perera. Meanwhile, with the government’s plan to create a Casino City at Bentota under the ‘2002 Tourism Masterplan,’ and ‘clear’ Colombo of all Casinos, I asked Perera whether he was ready to meet this change.

‘We are ready for it’? he said. I shall be startng a casino at Bentota. It will be called Ballys. It will be equipped with all the modern technology, he said. Referring to his other business ventures, Perera said that in 1998 he started his shipping business, investing $ 1.8 million in two cargo ships.

‘One does the Colombo-Tuticorin run and the other the Dubai-Indonesian run,’ he said. And the two power project? a 10 mega Watt (mW) hydro electric power project (HEPP) costing Rs 600 million at We Ganga in the Kahawatte Plantations. This project is expected to be commissioned in another 11 months time.

For this purpose, Perera has floated a company called Didu, of which Vallibel Holdings, a company wholly owned by Perera, has a 90% stake.’I got this name Vallibel from a friend in Singapore,’ says Perera.

‘My aim is make Vallibel, a public quoted company,’ he says. And I’m working towards achieving this goal in a couple of years time. The two power companies, Didu and the other Erathana Hydro Power Company will be floated by the end of next year, added Perera.

The Erathana project is located at Erathna Kuru Ganga in the Kuruwita area. Erathna too is a 10 mW HEPP and is 100% owned by Vallibel. It is being funded by a consortium of banks comprising DFCC Bank, Private Sector Infrastructure Development Corporation, Sampath Bank and Commercial Bank.

In addition, Perera also runs a retail clothing store called Beverly Street at Duplication Road, Colombo, which is open 24 hours of the day. With regard to his investment in Connaissance, which owns the La Kandyan and the Culture Club hotels, Perera feels a restructuring is necessary to make them viable concerns.

‘We also have plans to open up hotels down South and at Trincomalee (capitalising on the peace dividend). But our scouting around down South to find a property for our hotel project has so far been disappointing. A main reason for this is the shanties that litter the beach. ‘One cannot expect a tourist to pay $ 100 for a room, if, when, he looks out from his window he sees a row of shanties with people relieving themselves on the beach,’ said Perera.

On his investments in the stock market? I don’t believe in holding onto my investments. if they don’t provide me with an adequate return I shall exit from such investments, he says. ‘Like I said earlier, my investment cost in investing in shares in NDB were in the region of Rs 30-Rs 60 a share. And now those shares command a price of Rs 90. As an example, not that I’m saying that I will do it. But if I do wish to, I can always exit from such a company at a profit if I feel that I’m not getting an adequate return,’ said Perera.

Royal Ceramics? It is a profitable venture, yielding a monthly turnover of Rs 100 million. Failures? Having to close an electronics company in 1995 and the poor performance of another company located at Mutwal which manufactures computer forms.

Regrets? Of not studying enough. Plans? Period of consolidation. On the current economic situation? The government is on track and the economy will kick-off with the peace process seemingly working. Drawbacks? Too many holidays. People don’t work hard.

What is needed is for people to think positively. Government can’t go on giving hand-outs. We have to work. ‘I don’t think most of those employed in the public sector in particular work eight hours a day, he says. And from the government’s side? Greater transparency is required.

Source : The Island

PRESIDENT OPENS NEW GALLE BUS STAND....

The Modern Bus stand of Galle, in the Southern Province of Sri Lanka, built at a cost of Rs. 405 Million was declared open this morning by President Mahinda Rajapaksa.

  This two storied bus stand is the longest bus stand in Sri Lanka and its length is 161 meters with a width of 10 meters.  Funds for this project were allocated by the Ministry of Economic Development.

It consists of  16 shops, one restaurant and 4 stalls for selling newspapers.  It has also 2 resting lounges for male and female passengers and one resting lounge dedicated for the disabled persons.  The bus stand will cater to 692 buses daily and 165,680 passengers are using this bus stand daily.  The new bus stand also has an overhead bridge of 41 meters connecting it with the nearby Galle Railway Station. The bridge also has an overhead roof to protect the passengers from rain.

The bus stand that existed earlier was totally destroyed by the 2004 Tsunami, together with several numbers of busses and killing as well as washing away passengers.  However, despite  many appeals made by people, no concrete action was taken to build a bus stand. The government of President Mahinda Rajapaksa realizing the need to have a fully fledged bus stand drew up plans for the construction of a new bus stand and laid the foundation stone on 3rd October, 2010. 

Grade 5 Scholarship - Schools Cut off Marks

Boys Schools

NO	School Name	Address	Cut Off Mark	No. Of Allocates
1	Royal College	Colombo 7.'dP	179	189
2	Dharmaraja V.-	Kandy	175	58
3	Ananda College	Colombo 10	174	229
4	Maliyadeva Boys College	Kurunegala	174	68
5	Nalanda M.V.	Colombo - 10	171	139
6	Kingswood College	Kandy	171	53
7	Richmond College	Galle	170	50
8	St. Armes MY	Kurunegala	170	48
9	D.S.Senanayaka MY	62,Gregory Rd,Colombo 7	169	158
10	Isipathana M.V.	Colombo - 05	166	69
11	Rahula College	Matara	166	95
12	St. Sylvester's College	Kandy.	165	77
13	Mahinda College	Wodwerd Mawatha,Galle	165	51
14	Thurstan M.V.	Colombo 3	164	107
15	Mahanama M.V.	Kollupitlya, Colombo 03	162	99
16	Bandaranayake M.V	Gampaha	161	353
17	Vidyartha College	Kandy	161	73
18	St. Aloysius College	Galle	161	47
19	Kegalle M.V	Kegalle	161	40
20	Asoka V	Colombo 10	160	42
21	St Thomas Boys College	Matara	158	102
22	Sri Sumangala V.	Kandy	157	56
23	St Johns M.V	Nugegoda	156	45
24	Joseph Vaz M.M.V	Wennapuwa	156	85
25	Vidyaloka M.V	Wakwella Rd, Galle	154	48
26	Prince of Wales College	Moratuwa	153	106
27	St. Mary's College	Kegalle	153	72
28	St. Servatius College	Kotuvegoda, Matara	149	76
29	St. Thomas College	Matale	148	197
30	St. Aloysius V.	Ratnapura	147	103

Girls Schools

NO	School Name	Address	Cut Off Mark	No. Of Allocates
1	Vishaka Balika M.V.	Vajira Rd, Colombo 4	179	136
2	Devi Balika M.V.	Colombo - 08	174	188
3	Mahamaya B.M.V.	Kandy	173	79
4	Maliyadeva Balika M.V	Kurunegala	172	89
5	Sirimavo Bandaranaike Balika M	Colombo -07	171	115
6	Southland Balika M.V.	Galle	169	57
7	Anula Balika M.V.	Nugegoda	168	86
8	Girls High School	Kandy	168	94
9	Holy Family Balika M.V	Kurunegala	168	46
10	Rathnawali Balika M.V.	Gampaha.	167	234
11	St. Paul's Balika M.V	'Milagiriya, Colombo 5	166	45
12	Sujatha Balika V.	Rahula Road, Matara	166	98
13	Viharamaha Devi B.V.	Kiribathgoda	164	46
14	Sangamitta M.V.	Wakwella Road, Galle	164	69
15	Ferguson Girls High School.	Ratnapura.	163	0.87
16	St. Joseph's Balika M.V.	Kegalle.	163	107
17	St. Joseph B.M.V.	Nugegoda	162	55
18	Yasodara Devi Balika M.V.	Gampaha.	161	129
19	Pushpadana Balika M.V.	Kandy	161	209
20	Holy Family Girls School	Wennappuwa	161	54
21	St. Thomas Girls High School	Walpala, Matara	160	105
22	Samudradevi Balika V.	Nugegoda	159	78
23	Swarnamali B.M.V.	Kandy	159	51
24	Gothami Balika M.V	Temple Rd,Colombo 10	158	200
25	Sri Sumangala Balika M.V.	Panadura	158	52
26	Kegalle Balika M.V.	Kegalle.	158	72
27	Visaka B.V.	Sapugaskanda	157	43
28	Ananda Balika V.	Maligakanda Rd, Colombo 10.	156	97
29	Viharamahadevi B.M.V.	Kandy	156	54
30	Sri Sangamitta Balika M.V.	Matale	156	63
31	Rippon Balika V.	Galle	154	76
32	Panadura Balika M.V.	Panadura.	153	158
33	Hemamali B.M.V.	Kandy	153	76
34	Seethadevi B.M.V.	Kandy	152	45
35	Sumana Balika M.V.	Ratnapura.	152	131
36	Newstead Balika M.V.	Negombo	151	90
37	Princes of Wales College	Moratuwa	150	55
38	Anula Devi Balika V.	Galle.	150
39	Vidyakara Balika V.	Maharagama	149	41
40	Nalanda Balika M.M.V	Minuwangoda	149	56
41	Kristudewa Balika M. V	Baddegama	149	46
42	Swarnapali Balika M.V.	Anuradhapura	149	102
43	Rathnawali B.M.V	Park Rd,Boralla,Colombo 8	148	53
44	Kuda Kusum Balika M.V.	Bandarawela.	148	62
45	Tangalle Balika V.	Tangalle.	146	87
46	Visaka Balika M.V.	Bandarawela.	145	65
47	Marawila B.M.M V.	Marawila	144	40
48	Dankotuwa Girls M.V.	Dankotuwa	143	45
49	Kalutara Balika M.V.	Kalutara	142	45
50	Viharamahadevi Balika M.V.	Badulla	142	45

Mix Schools

NO	School Name	Address	Cut Off Mark	No. Of Allocates
1	Wayamba Rajakeeya P.V.	Kurunegala	164	99
2	Dharmapala M.V.	Pannipitiya	163	51
3	Taxila M.M.V.	Horana	162	233
4	Maliyadeva Model School	Colombo Road Kurunegala	161	84
5	Bandarawela M.M.V.	Bandarawela.	161	175,
6	Dharmashoka M.V.	Ambalangoda	160	188
7	Kuliyapitiya M.M.V.	Kuliyapitiya	159	234
8	Seevali M.M.V.	Hidellana, Ratnapura	159	140
9	C.W.W.Kannangara M.M.V	Mathugama.	158	129
10	Pinnawala M.M.V.	Rambukkana.	158	160
11	Bandaranayaka M.M.V.	Veyangoda.	157	222
12	Sri Darmaloka M.M.V.	Kelaniya	157	59
13	Rajakeeya V.	Horana	157	57
14	Dharmapala M.V.	Bandarawela.	157	52
15	Ruhunu Vijayaba M.V.	Sitinamaluwa,Tangalla	156	46
16	Ibbagamuwa M.M.V.	lbbagamuwa	156	239
17	Anuradhapura M.M.V.	Anuradhapura.	156	358
18	Siri Dhamma W	Labuduwa,Akmeemana	155	59
19	Matara M.M.V.	Matara	155	87
20	Sir John Kothelawala M.	Kurunegala	155	86
21	Swarna Jayanthi M.V.	Kegalle.	155	51
22	Thakshila M.V.	Gampaha	154	90
23	Devananda M.V.	Ambalangoda	154	71
24	Ananda V.	Chilaw	154	65
25	Rajakeeya M.M.V..	NeWTowniPolonnaruwa.	154	86
26	Embilipifiya M.M.V.	Embilipitiya	154	46
27	Japalawatta(Janadipathi) M.M.V	Minuwangoda	153	199
28	Lakdasa M.V	Kurunegala	153	48
29	Eheliyagoda M.M.V.	Eyeliyagoda	153	190
30	Weeraketiya M.M.V.	Weeraketiya	152	236
31	Dudley Senanayaka M.M.V.	Tholangamuwa.	152	79
32	Lumbini V.	Colombo 5	151	107
33	Dhammissara M.M V.	Nattandiya	151	88
34	Gurukula M.V.	Kelaniya	150	137
35	Harischandra M.V.. Temple	Road, Negombo.	150	51
36	Janadhipathi V. Kotuwa,	Matara	150	48
37	Telijjawila M.M.V.	Telijjawila.	150	199
38	Mayurapada M.M.V.	Narammala	150	266
39	Niwaththakachethiya M.V.	Anuradhapura	150	84
40	Henegama M.M.V.	Henegama	149	92
41	Sri Palee M.V.	Horana	149	176
42	Ananda Sastralaya.	Mathugama.	149	95
43	Sri Rahula V.	Katugasthota	149	77
44	Piliyandala M.M.V.	Piliyandala	148	157
45	Rajasingha M.M.V.	Hanwella.	148	197
46	Peradeniya M.M.V.	Peradeniya	148	40
47	Walasmulla M.V.	Walasmulla	148	90
48	Kekirawa.M.M.V	Kekirawa	148	242
49	St. Joseph's M.V.	Bandarawela.	148	40
50	Thopawewa M.V.	Polonnaruwa.	147	50
51	Gankanda M. M. V.	Pelmadulla.	146	150
52	Poramadulla.M.M.V.	Rikillagaskada	145	232
53	Vijitha M.M.V.	Dickwella	145	62
54	Sri Lanka Singapore Friendship	Kondagala, Weeraketiya	145	92
55	D.S. Senanayaka M.M.V.	Ampara.	145	167
56	Anamaduwa M.M.V.	Anamaduwa.	145	105
57	Badulla M.M.V.	Badulla	145	273
58	Debarawewa M.M.V.	Tissamaharama.	144	44
59	Thambuththegama M.M.V.	Thambuttegama.	142	53
60	Medawachchiya M.M.V.	Medawachchiya.	142	40
61	Nugawela M.M.V.	Nugawela	148	89
62	A. Rathnayaka M.M.V.	Walala, Menikhinna	148	53
63	Galahitlyawa M.M.V.	Ganemulla	148	80
64	64 Sangabodhi M.M.V.	Nittambuwa	148	109
65	D.S. Senanayaka M.M.V.	Mirigama	148	146
66	Rajasingha M.M.V.	Ruwanwella	148	123
67	Senanayaka M.M.V.	Madampe,	142	81
68	Sandalankawa M.M.V.	Sandalankawa	148	45

Miracle of The Asia

ලොව හොඳම රටවල් සියයක් අතුරින් ශ්‍රී ලංකාව 66
වැනි තැනට පත්ව තිබේ.“නිවුස් වික්” සඟරාව මගින් මෙය පෙන්වා දී
තිබෙන අතර සෞඛ්‍ය, අධ්‍යාපන, ආර්ථික, ජීවන තත්ත්වය, දේශපාලන පරිසරය ඇතුළු ක්ෂේත්‍රයන් රැසක් පදනම් කැර ගනිමින් එම සඟරාව මේ ශ්‍රේණිගත කිරීම සිදුකැර ඇතැයි වාර්තා වෙයි.