RAM Holdings Berhad has divested RAM Ratings (Lanka) Ltd, its wholly-owned subsidiary in Sri Lanka. The acquisition was led by the management team from RAM Lanka comprising Mahinda Preethiraj Jayawardena and Adrian Perera.
 
“We are pleased with the development of the Sri Lankan bond market from its nascent stage in 2005 to the dynamic market it is today. RAM has successfully nurtured a local team to continue building the company’s considerable market share in the rated bond market and also a leader in the rating of finance and insurance companies in Sri Lanka. We therefore are of the view that it is timely for us to give RAM Ratings (Lanka) Ltd back to the local professionals to manage”, said YBhg Datuk Dr K Govindan, Group Chief Executive Officer of RAM.
 
Mahinda Prethiraj Jayawardena, on behalf of the purchasers, acknowledged the contributions of RAM in growing the Sri Lankan credit rating business and is honoured with the trust given to the management team to take over the company. The Colombo credit rating agency will be rebranded within the next two months with a new name and logo to reflect its new identity.