Asha Securities Ltd

s of Singapore in 1993. This move was in line with the industry trend where several major Sri Lankan stock brokerages entered into partnerships with foreign brokerage houses. With the acquisition of the majority stake by Mercantile Merchant Bank, the firm’s name was changed to MMBL Phillip Securities Ltd in 1998 to reflect the new ownership structure. The firm was renamed in 2003 to Asha Phillip Securities Ltd with renowned high net worth investor, Mr. Udeshi acquiring 59.22% of the company from Mercantile Merchant Bank. Phillip Securities continued to retain its holdings in the firm. Currently the firm operates the largest branch network amongst Sri Lankan stock brokers, bringing the opportunity to invest in capital markets closer to all Sri Lankans.