Serendib Land PLC has appointed Rajiv Dharmendra, CEO of MAS Intimates, as an Independent Non‑Executive Director. Dharmendra has over 21 years at MAS Holdings and was also appointed a Non‑Executive Director of Sri Lanka Insurance Corporation effective 1 Jan 2025.
Serendib Land PLC appointed Premarajah Pranavan as an Independent Non-Executive Director and Senthilverl Senthi Aathavan as a Non-Independent Non-Executive Director to its board.
Senthilverl Holdings increased its stake in Serendib Land PLC to 38.3% by buying 12.85% from Janashakthi Insurance for nearly Rs.77 million (51,094 shares at Rs.1,500 and 158 shares at Rs.1,580–1,651.50). Serendib Land reported an unaudited NAV of Rs.1,797.83/share as of 30 June and its public float was under 11%.
Colombo ASPI fell 1.01% to 23,223.68, dragged by financial and capital goods stocks with top decliners including Ceylinco Holdings, Senkadagala Finance, Bukit Darah, Commercial Bank and Sampath Bank. Nations Trust Bank reported September-quarter profit up 48% to Rs 6.1bn and its stock closed higher.
Serendib Land PLC appointed Nirmalan Nagendra as its new CEO. Nagendra brings over 30 years of global hospitality experience, including finance and leadership roles at Park Hyatt Jeddah, consultancy work with KPMG, and senior hotel management positions.
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EconomyNext·Nov 3, 2025·Management or board change
Nirmalan Nagendra was appointed chief executive officer of Serendib Land PLC effective November 1. He has over 30 years' experience in the global hospitality industry and financial administration, including roles in hotel finance and consultancy.
Senthilverl Holdings acquired a 25.48% stake in Serendib Land PLC (101,643 shares) from Finco Holdings for Rs.1,500/share, totaling Rs.152.46m on 24 October, making Senthilverl the top shareholder. Public float is under 11% and the company reported an unaudited NAV of Rs.1,797.83/share as of 30 June.
Senthilverl Holdings bought a 25.48% stake in Serendib Land PLC, acquiring 101,643 shares at LKR 1,500 each. The stock closed up 0.12% at LKR 1,649.75.