NewsSri Lanka's Nimal Perera, a powerful businessman during the Mahinda Rajapaksa-led administration, on Wednesday shocked the Colombo stock market by stepping down from several key company boards, a move widely seen as a falling out with his mentor-influential businessman Dhammika Perera, market sources said. The sources said that Nimal Perera had resigned as a director of Hayleys, Haycarb, Kingsbury, Amaya Leisure and Talawakelle Plantations, and also as Managing Director of Royal Ceramics. The duo, led by Dhammika Perera, were widely credited for unconventional forays into powerful businesses culminating with the virtual take-over of the Hayleys Group. In recent years however relations between the two have been strained.

Source: Sunday Times March 08, 2017 10:44 UTC