PCH Holdings to enter new businesses

Appoints Ajita Pasqual as Chairman

PCH Holdings PLC, a unit of Adam Investments, yesterday communicated to the Colombo Stock Exchange (CSE) its director board decision to incorporate a fully-owned microfinance subsidiary.

The firm also revealed its intention to act as a Placement Agent to canvass for investment in the Sri Lankan government and in the corporate bond market.

In a separate disclosure, the company announced the appointment of a new chairman and two directors.

Senior banker and former GM/ CEO at Seylan Bank PLC Ajita Pasqual was appointed as the Chairman with immediate effect, following the resignation of Lawrence Fitsgerald Adams.

Meanwhile, Adam Investments PLC and Orient Garments PLC Chairman Ali Asger Shabbir Gulamhusein was appointed as the Executive Director of the company.

Along with him, Dinesh Renganathan, a career banker with over 40 years of experience, was appointed as an Independent Non-Executive Director.

The company previously informed the CSE that a special resolution to change the name from PCH Holdings PLC to Adam Capital PLC and to increase the number of directors from seven to 10 were passed at an Extraordinary General Meeting held on March 31, 2015.