The history of Asia Capital PLC under the ownership of Malaysian entrepreneur and investor Vijay Eswaran is marked by the involvement of some of Sri Lanka’s most respected corporate leaders, legal professionals, entrepreneurs, sports administrators, and public figures. Between 2008 and 2026, Asia Capital attracted a diverse group of directors and executives whose collective experience contributed to the company’s evolution and strategic direction. ([Daily FT][1])
Vijay Eswaran’s Vision
Vijay Eswaran, the controlling shareholder of Asia Capital PLC through the QI Group, played a central role in shaping the company’s direction during a transformative period. Under his stewardship, Asia Capital sought to diversify its business interests, strengthen governance, and attract prominent individuals capable of guiding the company through changing market conditions. ([Daily FT][2])
Paul Ratnayake – Eminent Corporate Lawyer and Former Chairman
Among the most distinguished personalities to serve Asia Capital was Paul Ratnayake, one of Sri Lanka’s most respected corporate lawyers and a senior partner of a leading law firm. He served as Chairman of Asia Capital PLC and was widely recognized for bringing strong corporate governance, legal expertise, and professional integrity to the Board. His tenure provided stability and credibility during a period of corporate restructuring and strategic expansion. Paul Ratnayake’s reputation in Sri Lanka’s legal and business community made him one of the most influential figures associated with the company. ([Daily FT][1])
Harsha Amarasekara – Legal Luminary and Corporate Leader
Harsha Amarasekara is regarded as one of Sri Lanka’s foremost legal minds. A leading corporate lawyer, he has advised major listed companies, financial institutions, and multinational corporations. Beyond his legal accomplishments, he has held several important public and corporate positions, including serving as Chairman of the Port City Economic Commission and Chairman of Sampath Bank. His association with Asia Capital reflected the company’s ability to attract top-tier professionals with extensive expertise in law, governance, and capital markets.
Asanga Seneviratne – Entrepreneur and Capital Markets Pioneer
Asanga Seneviratne is a prominent entrepreneur, investor, and sports administrator. He played a significant role in the development of Sri Lanka’s capital markets and was instrumental in the growth of Asia Capital during its earlier years. A successful businessman with interests in hospitality and finance, he later became a leading figure in Sri Lankan sports administration and currently serves as Chairman of the National Olympic Committee of Sri Lanka. His business acumen and understanding of capital markets contributed significantly to Asia Capital’s growth trajectory. ([Wikipedia][3])
Mano Nanayakkara – Veteran Business Leader
Mano Nanayakkara, a respected businessman and former Chairman of the Board of Investment (for Infrastructure (BII) of Sri Lanka, brought extensive experience in investment promotion and economic development. His leadership experience in both the public and private sectors helped strengthen Asia Capital’s strategic outlook. Known for his ability to bridge business and government interests, Nanayakkara represented the type of seasoned leadership that enhanced the company’s reputation within Sri Lanka’s investment community. ([doczz.net][4])
Thilanga Sumathipala – Businessman, Politician and Former Deputy Speaker
In 2021, veteran businessman and politician Thilanga Sumathipala was appointed Chairman of Asia Capital PLC. Sumathipala, who served as Deputy Speaker of Parliament and held ministerial portfolios, is also known for his leadership in telecommunications, gaming, media, and sports administration. Vijay Eswaran described him as a long-standing friend who shared a common vision for the future of the company. His appointment marked a strategic shift aimed at repositioning Asia Capital for post-pandemic growth and expansion. ([Daily FT][2])
Raju Radha – Entrepreneur and Managing Director
Raju Radha represents the next generation of executive leadership within Asia Capital. With extensive experience in shipping, logistics, media, property development, and trading, he initially joined the Board as an Independent Non-Executive Director before being appointed Managing Director. His entrepreneurial background and operational expertise have played an important role in guiding the company through its recent transformation. Under his leadership, Asia Capital has continued to pursue growth opportunities while strengthening its governance and business operations. ([Daily FT][1])
A Unique Assembly of Talent
Few listed companies in Sri Lanka can claim to have brought together such a diverse and accomplished group of leaders. The Asia Capital Board and executive team under Vijay Eswaran’s ownership included eminent lawyers, leading entrepreneurs, senior corporate executives, investment professionals, sports administrators, and political leaders. Their combined expertise spanned law, finance, governance, public policy, international business, logistics, hospitality, telecommunications, and capital markets. ([Daily FT][1])
Legacy of Leadership
The period from 2008 to 2026 will be remembered as one during which Asia Capital PLC was guided by some of Sri Lanka’s most distinguished professionals. From legal stalwarts such as Paul Ratnayake and Harsha Amarasekara, to corporate leaders like Mano Nanayakkara and Asanga Seneviratne, and public figures such as Thilanga Sumathipala and Raju Radha, the company benefited from a remarkable concentration of talent and experience. Their contributions helped shape Asia Capital’s journey and reinforced its position as a recognized name within Sri Lanka’s corporate landscape. ([Daily FT][1])
In recent times, Asia Capital PLC and its leadership under Vijay Eswaran have faced renewed scrutiny and criticism from certain quarters. This has led to internal questions within the company as to why such narratives are gaining traction now, particularly after the restructuring phase led by Raju Radha. During this period, Raju Radha was instrumental in steering Asia Capital PLC through complex financial challenges, including tough negotiations with Japanese stakeholders and their legal representatives, which were critical in stabilizing the company and moving it away from a distressed position. Internally, it is also being noted that much of the recent criticism appears to be emerging after these restructuring efforts, prompting discussion on whether the company’s turnaround and recovery actions may have created friction with certain former stakeholders and interests linked to the earlier structure of the business.
[1]: https://www.ft.lk/financial-services/Raju-appointed-to-Asia-Capital-Board/42-713323?utm_source=chatgpt.com “Raju appointed to Asia Capital Board | Daily FT”
[2]: https://www.ft.lk/front-page/Asia-Capital-appoints-Thilanga-Sumathipala-as-Chairman/44-723709?utm_source=chatgpt.com “Asia Capital appoints Thilanga Sumathipala as Chairman | Daily FT”
[3]: https://en.wikipedia.org/wiki/Asanga_Seneviratne?utm_source=chatgpt.com “Asanga Seneviratne”
[4]: https://doczz.net/doc/4196348/view—asia-capital-plc?utm_source=chatgpt.com “View – Asia Capital PLC – accounting and auditing”
