Monday, 10 September 2018 07:55

Business tycoon Harry J eyes large slice in Sri lanka's healthcare

Billionaire business tycoon Harry Jayawardena will be returning into mega businesses in Sri Lanka beating all other billionaires in island nation, market analysts predicted.

They speculated the Central Bank Governor is likely to revisit the rule on 15% ownership of Banks paving the way for Harry towards increasing his DFCC stake and it will enable him to increase his NDB Bank stake via merger of DFCC-NDB and subsequently he will increase stake in Commercial Bank via DFCC.

According to informed sources close to this Billionaire business tycoon, he is determined to acquire Sri Lanka Insurance again via Distilleries under his plan to enter into health sector in a big way.

Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC recently announced its entry into Sri Lanka’s healthcare sector.

The company said it incorporated a holding company namely Melsta Health (Pvt) Ltd., through which investments in health related fields, would be made.

With the reversal of ownership in Sri Lanka Insurance Corporation due to public interest litigation 10 years ago, Jayawardena had to give up his ambitious plans for Apollo Hospitals (now Lanka Hospitals PLC), which he acquired from Indian investors.

Harry J is lobbying fearlessly to get back his massive investment of Rs.6 billion in SLIC which was transferred to the treasury and invested in treasury bills on Supreme court order ten years ago.

There was a possibility, that Harry j may influence India's Forte Healthcare to buy a majority of Lanka Hospitals and then to own the minority by Sri Lanka Insurance.

The aim was to set up branches of Lanka Hospitals in major cities within a forecast of 5 years and bring down Softlogic group's 65% market share in private Healthcare in the country.


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