The Company – Brief History

 

Capital Management Service (Private) Ltd [CMSPL] has been initiated by Mr.Prethi De Silva, FCMA a well known Financial Consultant in July 1995 with a selected cooperate cliental and was handed-over to Mr. H.G.C. Rodrigo (Managing Director), a Fellow Member of “Institute of Chartered Accountants of Sri Lanka” (ICASL) soon after his return from the Kingdom of Saudi-Arabia in 1997 by Mr. Prethi De Silva. Mr. Rodrigo worked in Saudi- Arabia for over 15 years and held various Senior Management Positions in well reputed Multi –National Projects viz. He has joined initially M/s General Arabian Medical and Allied Services Limited, known as “GAMA Services Limited” in Riyadh, K.S.A. in March 1980. Thereafter he has serviced at the various projects in the capacity of Assistant Director of Finance, Financial Controller, Chief Accountant, at the projects of “King Fahad National Guard Hospital KFNGH” in Riyadh, North& Western Armed Forces hospital “NWAFH” in Tabuk and King Khalid Information Air Port hospital “KKIAH” IN Riyadh respectively. 

 

CMSPL is a leading investor related consulting firm offering unparallel strategic Corporate Secretarial Services and a comprehensive suite of value added services to support our selected clientele’ in achieving their  Corporate Objectives.

 

CMSPL has a proven track record of extending and executing Corporate Secretarial Services to our clients with a defined objective of increasing awareness, build management credibility and achieve a high degree of recognition among the business community, banks, corporate entities and regulatory bodies.

 

CMSPL will work with Management Teams of our clients to ensure organizations under-stands and promotes best practices in a highly regulated business environment as it relates to Corporate Governance, Corporate Disclosure Policy, Website, Press releases, establishing insider trading policies  etc…

 

It is CMSPL belief that credible long-term growth strategies combined with a sound disclosure policy are essential for building sustainable shareholder value.

 

 

The company started its services with a few local corporate companies and over a period of Twelve Years. It had established over One Hundred Clients including foreign clients.

 

 

Directors Profile

 

 

Mr. H.G.C. Rodrigo FCA, (Managing Director-CMSPL)

 

The Managing Director Mr. H.G.C Rodrigo by profession is a qualified Chartered Accountant. Mr. Rodrigo is also a fellow of “Institute of Chartered Accountant Sri Lanka” since 1987.

 

He returned back to Sri Lanka in 1997 having worked in the Kingdom of Saudi Arabia from 1980 to 1997, i.e. more than 15 years holding many senior positions in corporate entities, such as Chief Accountant, Financial Controller and Assistant Director of Finance.

 

Mr. Rodrigo commenced his own firm, Ms. Rodrigo Associates (Chartered Accountants) soon after his return and commenced practicing as an Auditor and Chartered Accountants to select corporate entities in Sri Lanka.

 

Mr. Rodrigo is attached to the Institute of Chartered Accountants of Sri Lanka and Associating of Accounting Technicians of Sri Lanka as a Supervising Member providing practical training for over 20 personnel.

 

 

Mr. Dayantha W. Fernando, (Director-CMSPL)

 

Mr. Dayantha Fernando is a retired Senior Banker having 36 years of Banking Experience, worked at several different senior management levels of the Banking and Financial sectors. Presently he serves as a Banking and Finance consultant to various companies having more than 20 years of experience in credit lending at Middle and Top Management levels.

 

Mr. Fernando’s work experience in Banking & Finance sectors can be summarized as follows;

 

Ø    Nine years experience as CEO Merchant Banking & Financial Service Organization,

 

Ø    Key Positions Held,

 

-                      Manager Domestic Finance – 2 Years at Peoples Bank (02^nd Largest State Bank in Sri Lanka)

 

 -                      Head of Business Development – 6 years at Seylan Bank incorporated in 1988 as a private bank and subsequently quoted at the Colombo Stock Exchange (CSE)

 

-                      Head of Financial Services (Local Treasury) - 1 ½ Years at Seylan Bank

 

-                      General Manager / CEO – 1 Year at Seylan Merchant Bank, subsidiary of Seylan Bank Ltd

 

-                      Managing Director / CEO – 8 years at Pramuka Merchant Corporation Limited

 

-                      Working Director – 2 ½ years at People Bank 02^nd largest State Bank in Sri Lanka)

 

 

Ø    Main Achievements,

 

-                      Launch of Western Union Money transfer system in Sri Lanka via Seylan Bank,

 

-                      Launch “SAMBA” Speed Cash – Seylan Bank jointly with Saudi American Bank Limited, Saudi-Arabia,

 

-                      Launch of International visa card through Seylan Bank,

 

-                      Opening of Seylan Bank exchange houses in Oman and Dubai (U.A.E.)

 

-                      Marketing & Promotional Campaigns conducted in Saudi Arabia for “SAMBA” Speed Cash, in Dubai – Exchange House and in Oman for Exchange House,

 

-                      Study of American Banking System in Los Angeles, 

 

 

 

 

The Company’s Professional Services

 

CMSPL presently offer following services in support of its client’s success and achieving corporate objectives.

 

Ø    Corporate Secretarial Services

 

CMSPL will carry-out formation and incorporation of new companies and thereafter will look after your corporate secretarial services; i.e. maintaining the share register, recording of minutes of directors and shareholder meetings, filing of statutory forms with Registrar of Companies and attending at regular meetings of Board of Directors and Certification of Board Resolutions.

 

Ø    Accounting Internal Audit and Taxation Services

 

CMSPL will provide comprehensive financial accounting and tax services for you and your business. Our tax services includes,

 

      *           Computerized Bookkeeping and accounting assignments.

      *           Preparation of Monthly and/or annual financial statements.

      *           Preparation of Schedules and Statements for Audit Purposes.

      *           Providing Internal Audit and Management Information Services.

      *           Preparation and filing of personal and corporate tax returns.

      *           Submission of Value Added Tax (VAT) returns.

      *           Other ad-hoc related accounting and tax assignments.

 

In addition to the above, we also undertake assignments to review, develop and implement practical time-critical and cost-effective solutions that are customized to clients specific management and accounting needs.

 

Ø    Board of Investment Approvals

 

CMSPL will Facilitate and Obtain Board of Investment (BOI) Approvals, on Project Proposals and reports submitted to BOI on behalf of clients.

 

Ø    Negotiating Bank Facilities

 

CMPSL will negotiate with Banks and other financial institutions on behalf of clients and obtain special Banking Facilities.

 

  

Ø    Project Reports & Feasibility Studies

           

Carry out Project Feasibility studies on behalf of new ventures and providing consultation services.

 

Ø    Meeting Attendance

 

We attend your important or delicate meetings to facilitate your negotiations and/or discussions.

 

In case of a dispute or disagreement among the Directors, CMSPL as a third party act as a buffer or go between to smooth the strain relations between the concerned parties.

 

Ø    Other Investor Services

 

*     Providing professional services as Independent Business Representative for promotion of Foreign Loans and Equity Investments.

 

*     Consultancy services in the field of Management and Operation of Companies.

 

*     Handling Liquidation proceedings of corporate entities.

 

*     Providing Consultancy Services for potential foreign and local investors.

 

*     Special assignment, i.e. verification of stock, property valuations representations at Labour matters collection of receivables etc.

 

*           Providing Data Entry services to its clients as and when required.

Promotion of Foreign Direct Investments (FDI)

 

Consistent economic growth, de-regulation of laws, liberal investment policies, and operational flexibility are all the factors that help a country to increase the inflow of Foreign Direct Investments (FDI).  

 

FDI or Foreign Direct Investment is any form of investment that earns dividends in enterprises which function outside of the domestic territory of the investor.

FDIs require a business relationship between a parent company and its foreign subsidiary. Foreign direct business relationships give rise to multinational corporations. For an investment to be regarded as an FDI, the parent firm needs to have at least 10% of the ordinary shares of its foreign affiliates. The investing firm may also qualify for an FDI if it owns voting power in a business enterprise operating in a foreign country.

Types of Foreign Direct Investment: An Overview

FDIs can be broadly classified into two types: outward FDIs and inward FDIs. This classification is based on the types of restrictions imposed, and the various prerequisites required for these investments.

 

An outward-bound FDI is backed by the government against all types of associated risks. This form of FDI is subject to tax incentives as well as disincentives of various forms. Risk coverage provided to the domestic industries and subsidies granted to the local firms stand in the way of outward FDIs, which are also known as “direct investments abroad.”

 

Different economic factors encourage inward FDIs. These include interest loans, grants, subsidies, and the removal of restrictions and limitations. Factors detrimental to the growth of FDIs include necessities of differential performance and limitations related with ownership patterns.

 

Foreign Direct Investment is guided by different motives. FDIs that are undertaken to strengthen the existing market structure or explore the opportunities of new markets can be called “market-seeking FDIs.” “Resource-seeking FDIs” are aimed at factors of production which have more operational efficiency than those available in the home country of the investor.

 

Some foreign direct investments involve the transfer of strategic assets. FDI activities may also be carried out to ensure optimization of available opportunities and economies of scale. In this case, the foreign direct investment is termed as “efficiency-seeking.”

 

CMPSL will act as facilitators for Foreign Direct Investments (FDI) to Sri Lanka and service interest of both parties concerned.