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Asia Capital appoints Raju Radha as MD

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Asia Capital PLC, a prominent player in the business landscape, has announced the appointment of Raju Radha as its new Managing Director.

Radha, previously serving as an Independent Non-Executive Director, has transitioned into the role of Executive Director, bringing a wealth of expertise and experience to his new position.

With a B.Sc. in Business Management from the University of London, Radha boasts a diverse background in various business domains, including shipping, logistics, media, property development, and trading.

His extensive career includes key roles such as Managing Director of Sea Services Ltd. (the first Sri Lankan ship-owning feedering company), Director of Greenlanka Shipping Ltd., and Chairman of Vauxhall Shipping Ltd. (a joint venture with Aitken Spence PLC).

Radha has played pivotal roles in media as the founder Director of Radaan Media Works India Ltd. and a Director of Radaan Talent Factory (a joint venture with Capital Maharaja).

Currently, he holds the position of Managing Director at SAR Shipping Ltd., SAR Maritime Ltd., SAR Trading Ltd., and serves as the Chief Operating Officer of Greenlanka Property Developer Ltd.

The strategic appointment comes amid a dynamic period for Asia Capital PLC, signaling a focused effort to leverage Radha’s extensive knowledge and leadership acumen. Malaysia’s Vijayeswaran S Vijayaratnam, controlling over 80% stake in Asia Capital, emphasizes a commitment to steering the company towards continued success under Radha’s guidance.

Raju Radha’s elevation to Managing Director is poised to contribute significantly to Asia Capital PLC’s ongoing growth and diversification initiatives, solidifying its position as a key player in the business landscape.

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No justification for coconut oil price hike – Coconut Development Authority

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The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

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Coconut oil price upped

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The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

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Registration compulsory for all money changers 

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The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

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