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Ravi K appoints Coordinating Secy Rahman and Pradeep Maharaja to MBSL Board

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Prime Group founder Premalal, Asia Securities Head of Treasury Ajith among new appointees; Prime Grameen Ruwan Gallage is new Chairman

Finance Minister Ravi Karunanayake has appointed his Coordinating Secretary S. Rahman and Pradeep Maharaja of Capital Maharaja Organisation fame to the new Board of Directors of Merchant Bank of Sri Lanka (MBSL). The new Chairman is Ruwan Gallage of Prime Grameen fame whilst other new apppointees to the MBSL Board include B. Premalal, the founder of Prime Lands, Lawyer Sandun Gamage and Asia Capital’s Head of Treasury Ajith Samarasundera. The new faces follow the resignation of six MBSL Board directors - Mervyn Sunil S Paramananda, P.G. Rupasinghe, A.B. Lalith A. De Silva, C.R. Jayawarna, Raju Sivaraman and W.C.K. Wickramarachchi. MBSL is a subsidiary of Bank of Ceylon holding 72% stake. A Fellow member of the Chartered INstitute of Management Accountants UK, Gallage had served Prime Grameen Micro Finance Ltd., as director and also as Audit Committee Chairman. The Company was resurrected from a precarious position to be a vibrant non-bank financial institution of over 3 years during his tenure. He resigned from Prime Grameen Micro Finance in November last year when HNB acquired 51% stake under the Central Bank consolidation program.     Gallage is a JP and also serves the OPA, the apex body of professional associations in Sri Lanka as the General Secretary. An Old Boy of Royal College, he had been a director of public institutions and served in Wages Boards of the Department of Labour. Gamage received his LL.B from the Colombo University in 1995 and enrolled as an Attorney-at-Law in 1996. He is a Civil Law practitioner in the District Court of Colombo, Commercial High Court, Court of Appeal and the Supreme Court during the past 17 years. He was the youngest member appointed to the Advisory Council of the Registrar of Companies during 2001-2004. Gamage has undergone training at Robert Schumann University of Strasburg - France in 2000 and was a recipient of a scholarship to follow the Summer Session in the International Court of Justice in Hague in Netherlands in 2011.     Samarasundera is the Head of Treasury of Asia Securities handling its fixed income securities business. He has been involved in capital markets for over 19 years. He obtained a BSc (physical Science) and a MBA in finance both from the University of Colombo. He is also professionally qualified having obtained an ACI Dealing Certificate, a Certificate in financial markets - derivatives module and a Diploma in Computer Programming. Rahaman has been in the mercantile sector for 29 years having worked in some of the leading organisations in the capacity of import, export manager. His duties broadly were those associated with iumport, export functions such as bank documentation, and dealing with the Customs and Exchange Control Department. He was also Personal Assistant to the MD in a leading mercantile establishment. For the past 14 years he has been working for Ravi Karunanayake as his Coordinating Secretary. He has a proven track record as an efficient coordinator and an excellent public relations personality.     Pradeep Maharaja is an Executive Group Director and Board Director of the Capital Maharajah Orghanisation Ltd., where he studied and contributed to the development of diversified business interests from manufacturing to entertainment, promoting Sri Lankan artists. Whilst in Melbourne, he had worked at Alaco, a subsidiary of the New Zealand Dairy Board as Market Research Executive in 1993/4 and at Pesicola International, Melbourne from 1994 to 1995. He has obtained a Bachelor of Marketing Degree from Royal Melbourne Institute of Technology. Premalal is the Founder of Prime Lands (Pvt.) Ltd. He is a Professionally qualified and has experience over 25 years in various industries. He is a fellow member of the Institute of chartered Management Accountants (UK), chartered Business Administrator (Canada), Member of Sri Lanka Institute of Marketing and a holds a Postgraduate Diploma in Marketing from University of Sri Jayewardenepura. He is the Deputy Chairman of Prime Grameen Micro Finance Ltd., now controlled by HNB. He has vast experience in real estate industry and exposure on many other industries as an entrepreneur.  Premalal is a winner of the UCD Entrepreneur of the year of 2011.

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