By: Staff Writer
April 27, Colombo (LNW): Ceylon Capital Management (CCM), chaired by entrepreneur Amila Mahesh Basnayaka, has strengthened its position in Sri Lanka’s investment landscape with a major acquisition of 23 million shares in Browns Investments PLC (BIL).
In a series of strategic purchases over recent trading sessions, Basnayaka acquired an additional 19 million shares at prices between Rs. 6.80 and Rs. 7.30 per share.
This investment, totaling around Rs. 134 million, elevates CCM’s overall stake to 0.17% of Browns Investments, positioning the firm among BIL’s top 15 shareholders.
The move underscores Basnayaka’s long-term confidence in Browns’ growth potential and value proposition.
Browns Investments, a dynamic arm of the LOLC Group, plays a leading role in sectors critical to Sri Lanka’s economy.
Its diverse portfolio covers plantations, agriculture, leisure and travel, construction, manufacturing, and real estate.
Through a strategy of strengthening its core assets and executing calculated acquisitions, Browns continues to expand LOLC Group’s footprint across these vital industries.
Notably, Browns Investments holds a major stake in Hatton National Bank, aligning itself with leading financial institutions to support broader economic development and financial inclusion.
The company’s financial performance has been robust. For the nine months ending December 2024, Browns Investments reported a profit of Rs. 47.57 billion—a 117% increase compared to the previous year. Earnings per share rose sharply by 116% to Rs. 3.31, while Net Asset Value per share stood at Rs. 12.07, reflecting strong underlying fundamentals.
Browns’ operations span several key sectors. In leisure and travel, it manages Eden Hotel Lanka PLC, Dolphin Hotels PLC, Hotel Sigiriya PLC, and Excel World. In agriculture, it oversees Hapugastenne Plantations PLC, Udapussellawa Plantations PLC, Browns Plantations Kenya, and the strategic acquisition of the iconic Lipton brand. In engineering and construction, Browns is involved in projects like The Colombo Marina at Colombo Port City, Browns Metal and Sands, and Sierra Cables.
Basnayaka’s journey with Browns Investments began in 2019 when he started building his shareholding personally. Over six years, this methodical approach has evolved into a significant institutional presence through CCM.Beyond equities, CCM has diversified into several high-growth sectors. Under Basnayaka’s leadership, the firm has expanded into luxury wellness tourism with Wellness Ceylon Global Ltd., traditional healing with Seth Siri Arana Global Ltd., curated travel through Unithinc International Ltd., automotive solutions via CBN Group Ltd., and sustainable real estate development with Total Trust Global Ltd. Each venture supports a cohesive long-term vision of sustainable value creation across industries and borders, according to Basnayaka.
