Dhammika Perera joins the Laugfs group in Sri Lanka
- Business
Proudly Srilankan
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- 2 minutes read
- Due to the departure of original director and deputy chairman Thilak de Silva, businessman Dhammika Perera is purchasing a 39 percent interest in Sri Lanka’s diversified Laugfs firm, according to officials.
- Laugfs began in 1994 when de Silva and Chairman W K H Wegapitiya converted cars to run on LPG. After then, it ventured into the LPG industry and grew into new markets, such as Bangladesh.
- Laufgs is involved in several industries, including manufacturing, retail, gasoline distribution, liquefied petroleum gas, shipping, and renewable energy.
- The main LPG company, Laugfs Gas, reported 888 million rupees in gross revenues for the June quarter, while 733 million rupees in finance expenses resulted in a deficit for the quarter. It has short-term borrowings of 19 billion rupees and long-term debts of 12 billion.
- Laugfs Gas encountered challenges in 2015 because of pricing regulations and Sri Lanka’s most recent currency crisis, which prevented it from importing gas because of shortages in foreign exchange.
