Asha Phillip Securities Ltd was first incorporated as Mercantile Stock Brokers Ltd under the companies Act No 17 of 1982. It was incorporated in December 1982 as a subsidiary of Mercantile Credit Ltd. (MCL) and was situated at No 55, Janadhipathi Mawatha, Colombo 01.
Presently Asha Phillip Securities Ltd operates with the largest branch network in the island and extends its services to overseas investors through its international desk operated in Singapore Phillip Securities Office (POEMS) at Raffles City.
On the 22 of October 1992 the company's name was changed to Allied Stock Brokers and an addition was made to the head office with a Branch in Matara. In 1993 the Colombo stock market experienced rapid growth and with a growing trend of Joint Ventures between local and overseas Stock Brokers, the company formed an alliance with Phillip Securities of Singapore. On the 19 of January 1994, the company was renamed as Allied Philip Securities Ltd.
With the acquisition of major stake by Mercantile Merchant Bank the name of the company changed to MMBL Phillip Securities Ltd. in 1998.
Asha Phillip Securities Ltd was renamed in the year 2003 with the latest acquisition took place with High net worth investor Mr. M M Udeshi acquiring 59.22% of the company whilst Phillip Securities of Singapore being the only other share holder.
Board of Directors are :
|Mr. M.M. Udeshi – Chairman
Mr. D.S. Abeyesekera – CEO
|Mr. H.M. Udeshi
Mr. Goh Yong Seng
|Mr. ONG Teong Hoon
Mr. G.R. Wijewardana
The Auditors of the company are
M/S A & S Associates chartered Accountants Vision House,
6 Floor, No.52, Galle Road, Colombo 04.
Secretaries of the company are :
Corporate Advisory Services (private) Limited, No 47, Alexandra
Place, Colombo 07.
|Tel: (+94) 11 2429 100
Fax: (+94) 11 2429 199
2nd Floor, Lakshmans Building,No. 321, Galle Road,
Colombo 03,Sri Lanka