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In October 2025, Hayleys, under Perera's influence, acquired a 40.58% stake in Harischandra Mills PLC for Rs. 2.57 billion, adding food processing capabilities including rice milling, flour, noodles, soaps, and oils to his manufacturing footprint.[28][29] Harischandra, established in the mid-20th century, operates facilities in Matara and emphasizes qualityconsumergoods distribution alongside production.[30]Trading operations were bolstered through Hayleys' 2017 acquisition of a 61.73% controlling stake in Singer (Sri Lanka PLC for Rs.
10.8 billion, the largest such deal on the Colombo Stock Exchange at the time, enabling expanded retail and distribution of consumer durables like appliances and electronics.[31] Singer, with over 400 outlets island-wide, leverages Perera's oversight to partner in ventures such as Starlink satellite internet distribution starting in 2025.[32]Hayleys' own trading divisions further support imports and exports in commodities, complementing manufacturing synergies.[33]Perera's leisure sector diversification began around 2000 in anticipation of tourism recovery, yielding controlling interests in Hayleys Leisure PLC (formerly Amaya Leisure), which manages resorts with over 650 rooms across four- and five-star properties.[4][34] This includes The Kingsbury, a 229-room Colombo city hotel, and expansions like east coast investments valued at Rs.
563 million in 2014.
In 2006, he returned to Bangladesh, this time based in the capital Dhaka as the country health coordinator for the Dutch and German sections of Médecins Sans Frontières. His portfolio encompasses stakes in over 20 companies listed on the Colombo Stock Exchange, enabling significant capital market activity and economic liquidity.[45][46]By 2013, Perera had achieved dominance in nine key sectors, including tourism, banking, apparel manufacturing, and finance, by acquiring and scaling underperforming assets into market leaders through operational efficiencies and targeted expansions.[4] These efforts have modernized segments of Sri Lanka's manufacturing base, particularly in high-end apparel and industrial products, fostering competitiveness amid regional low-cost production pressures.[46] His approach emphasizes numerical precision in identifying undervalued opportunities, regardless of macroeconomic conditions, which has driven consistent value creation across volatile environments.[46]In recent years, Perera's acquisitions have injected substantial capital into the economy, such as the October 2025 purchase of a 40% stake in Harischandra Mills for Rs.
2.57 billion, enhancing textile sector capacity.[44] Similarly, his 77.4% acquisition of East West Properties for Rs. 30.20 per share that year bolstered real estate development, while mergers like Laufs Holdings with Vallibel Three expanded energy and logistics footprints.[3][44] These moves have stimulated Colombo Stock Exchange trading volumes and supported industrial diversification, contributing to post-crisis economic stabilization through private sector reinvestment.[47]
Philanthropic Activities
Establishment of the Dhammika and Priscilla Perera Foundation
The Dhammika and Priscilla Perera Foundation was established in 2016 by Sri Lankan businessman Dhammika Perera and his wife Priscilla Perera as a private, not-for-profit charitable organization dedicated to human capital development.[48][49] The initiative emerged from the couple's commitment to addressing socioeconomic challenges in Sri Lanka, particularly in education and healthcare sectors, by leveraging private philanthropy to deliver targeted interventions without reliance on government funding.[50]From its inception, the foundation prioritized scalable, outcome-oriented programs, including the development of free online learning platforms and skill-building initiatives to empower underserved communities.[51] By 2024, it had expanded to encompass arms like DP Education, which provides access to over 10,000 subjects and has reached more than 1.8 million students through digital infrastructure.[52] The foundation's structure emphasizes self-sustaining models, such as IT campuses and job zones, to foster long-term employability rather than short-term aid.[53]Early efforts focused on bridging educational gaps exacerbated by Sri Lanka's economic constraints, with the foundation investing in infrastructure like coding and robotics campuses across the island to promote a knowledge-based economy.[54] Unlike state-run programs, which often face bureaucratic inefficiencies, the foundation's private governance allows for rapid deployment of resources, as evidenced by the inauguration of over 160 IT training centers by 2025.[49] This approach reflects a causal emphasis on skill acquisition as a driver of poverty reduction, supported by partnerships with institutions like the University of Moratuwa for advanced learning recovery programs.[55]Key Initiatives in Education and Social Development
DP Education, launched in October 2019 by the Dhammika and Priscilla Perera Foundation, delivers free online courses covering pre-school through tertiary levels, including subjects in Sinhala, Tamil, and English for grades 1-13, vocational training at NVQ Levels 3 and 4, and specialized programs in information technology such as robotics, IoT, AI, and programming languages like Python and HTML.[56][52] Additional offerings encompass language skills enhancement, Olympiad preparation in math and IT, health education, life skills, and sports training led by international champions, accessible 24/7 via mobile apps and web platforms.[52]The initiative has reached over 1.8 million students, providing more than 10,000 learning subjects and 23,000 hours of content, with 1.5 million app downloads recorded.[52] In July 2022, DP Education partnered with UNICEF to equip 100 schools serving vulnerable children with digital learning resources, aiming to bridge educational gaps amid socioeconomic challenges.[57] A related goal includes training one million proficient coders by 2028 to bolster Sri Lanka's skilled workforce and economic competitiveness.[58]Complementing these efforts, the "A Prosperous Village – A Prosperous Nation" program, initiated in April 2024, targets rural empowerment by integrating education with economic development to reduce poverty and foster self-sustaining communities.[59] This initiative emphasizes precision interventions, such as dropout prevention and skill-building, to eliminate school dropouts—estimated at 30,000 annually—and promote village-level prosperity as a foundation for nationalgrowth.[60] DP DigitalUniversity represents a subsequent philanthropic extension, focusing on advanced digital learning to expand access to higher education.[61]Political Career
Government Appointments and Advisory Roles
Dhammika Perera was appointed Secretary to the Ministry of Transport on January 12, 2011, during President Mahinda Rajapaksa's second term, succeeding in the role until January 2015.[62][63] In this capacity, Perera oversaw administrative functions related to transport policy, infrastructure development, and regulatory oversight, though specific achievements or reforms attributed directly to his tenure remain limited in public records.[64]In March 2022, amid Sri Lanka's escalating economic crisis, President Gotabaya Rajapaksa appointed Perera as one of 16 business leaders and economists to the National Economic Council, an advisory body tasked with providing recommendations on economic stabilization and recovery strategies.[65] Perera contributed to discussions on bipartisan policy proposals, emphasizing practical solutions drawn from his business experience, though the council's influence was curtailed by the government's broader political instability at the time.[65]Chairmanship of the Board of Investment
Dhammika Perera was appointed Chairman and Director-General of Sri Lanka's Board of Investment (BOI) in April 2007, a position he held until 2010 under the government of President Mahinda Rajapaksa.[66][63] The BOI, as the primary agency for foreign direct investment promotion, oversees incentives such as tax holidays and streamlined regulations for approved projects.[67]During his tenure, Perera prioritized accelerating investment approvals to reduce bureaucratic hurdles, reportedly granting clearances shortly after applications were received rather than subjecting them to extended reviews.[68] He personally met with prospective investors pledging at least $50,000, aiming to foster direct engagement and expedite commitments in sectors like manufacturing and exports.[4] This hands-on approach aligned with postwar economic recovery efforts, though specific aggregate investment figures attracted under his leadership remain undocumented in public records.[4]The expedited process, however, faced scrutiny for potentially bypassing rigorous evaluations, with critics arguing it enabled insufficient scrutiny of project viability and compliance.[68] Perera defended the changes, asserting they enhanced efficiency without compromising standards, but reports highlighted risks of favoritism in a context where the BOI wielded significant discretionary power over incentives.[68]Further concerns arose over conflicts of interest, as Perera's role coincided with his ownership stakes in multiple private enterprises that could benefit from BOI approvals, raising questions about impartiality in investment facilitation.[69] These issues, raised in contemporary media analyses, underscored tensions between Perera's public duties and private business interests, though no formal investigations or sanctions were reported during or immediately after his term.[69]Ministerial Positions and Policy Contributions
Dhammika Perera was appointed Minister of Investment Promotion on June 24, 2022, and sworn in before President Gotabaya Rajapaksa, shortly after entering Parliament as a National ListMP for the Sri Lanka Podujana Peramuna (SLPP).[70][45] His tenure ended abruptly with his resignation on July 10, 2022, amid escalating political and economic turmoil in Sri Lanka.[71]The ministry's responsibilities, as gazetted on June 28, 2022, included formulating, implementing, monitoring, and evaluating policies, programs, and projects for investment promotion, aligned with national policies and the government's "Vistas of Prosperity and Splendour" framework.[72] It oversaw key institutions such as the Board of Investment of Sri Lanka, the Colombo Port City Economic Commission, the Department of Immigration and Emigration, and the Colombo Lotus Tower Management Company, with directives to promote the Lotus Tower as a business and tourist hub.[72][45]In his brief role, Perera focused on attracting foreign capital to address Sri Lanka's foreign exchange crisis, publicly advocating for measures to increase U.S.dollar inflows through streamlined processes.[73] He announced initiatives to simplify foreign direct investment (FDI) approvals, reducing bureaucratic hurdles, and set targets including a fourfold rise in ICT sector revenue from $1.2 billion to $5 billion by 2025 and a fivefold expansion in tourism earnings.[74] On July 3, 2022, he issued five-year residence visas to Indianbusiness leaders to foster bilateral investments, emphasizing long-term residency options for high-net-worth foreigners.[75] Perera also introduced six key decisions for the Department of Immigration and Emigration to expedite investor facilitation, though detailed outcomes were constrained by the ministry's short lifespan and the ongoing national crisis.[76] These efforts aimed at immediate dollar-earning mechanisms but saw limited implementation before his departure.[77]
Election to Parliament and Legislative Involvement
Dhammika Perera was nominated by the Sri Lanka Podujana Peramuna (SLPP) for a National List seat in Parliament on June 10, 2022, following the resignation of Basil Rajapaksa, who had vacated his position as a national list MP allocated from the party's 2020 general election results.[78][7] The nomination came at the special request of President Gotabaya Rajapaksa to the SLPP leadership.[79] Under Sri Lanka's mixed-member proportional representation system, national list seats are filled by party nominations after district seats are distributed based on vote shares, allowing parties like SLPP— which secured 145 seats in 2020—to appoint members without direct district elections.[78]Perera was sworn in as an MP on June 22, 2022, before Speaker Mahinda Yapa Abeywardana, marking his entry into the 9th Parliament.[1][80] His tenure lasted approximately two years and three months, ending with the prorogation and dissolution of Parliament on June 24, 2024, ahead of the snap parliamentary election.[81]Public records indicate limited direct legislative engagement during Perera's time in Parliament, with no documented introduction of private members' bills or prominent interventions in Hansard-recorded debates attributable to him as a primary speaker.[82][83] He maintained membership in the SLPP caucus but did not chair or serve publicly noted roles in select or standing committees focused on economic or investment policy, areas aligned with his business background.[84] Perera's parliamentary presence coincided with Sri Lanka's ongoing economic crisis, though his contributions remained oriented toward advisory input rather than floor-level legislation.[85]2024 Presidential Candidacy and Withdrawal
Dhammika Perera, a Member of Parliament from the Sri Lanka Podujana Peramuna (SLPP), emerged as a leading presidential hopeful for the party in the lead-up to Sri Lanka's 2024 presidential election scheduled for September 21.[86] The SLPP, the ruling party at the time, had internally discussed Perera as a potential candidate amid internal deliberations involving key figures like Namal Rajapaksa, with announcements expected by early August.[87] Perera's business background and prior advisory roles in government positioned him as an alternative to family-linked candidates within the Rajapaksa-dominated SLPP.[88]On August 6, 2024, hours before the SLPP's planned candidate announcement, Perera formally withdrew his candidacy by submitting a letter to party General Secretary Sagara Kariyawasam, citing personal reasons as the basis for his decision.[89][90] This abrupt exit shifted the nomination to Namal Rajapaksa, who was officially named the SLPP's candidate on August 7.[86]Dhammika Perera
chairmanManaging Director
Don Dhammika Perera, is a Sri Lankan businessman.
Joining the Sri Lankan Ministry of Health in 2001, he worked at the Teaching Hospital in Kurunegala, and then as the Assistant Divisional Director for the Medawachchiya area.
Dhammika was recruited as a physician by Médecins Sans Frontières in Amsterdam and started his international medical career leading a small medical team in drug-resistant malaria control activities in the deprived Chittagong Hill Tracts in the Bangladesh-Myanmar border region.
He then moved to South Sudan to work as the physician in charge of HIV and TB management at the Kajo Keji Central Hospital on the Sudan-Uganda border prior to South Sudan’s secession. He went on to obtain his Public Health Master’s from the University of Manchester in 2009 and was awarded a fellowship of the UK Faculty of Public Health in 2018.
After dropping out of the University of Moratuwa in 1987 amid the country's civil war, he traveled to Taiwan for three months of technical training in electronics and machinery. He is in the boards of Amaya Leisure Public Limited Company, Haycarb Public Limited Company, Hayleys MGT Knitting Mills Public Limited Company, The Kingsbury Public Limited Company, Dipped Products Public Limited Company, Lanka Floortiles Public Limited Company and Orit Apparels Lanka (Pvt) Limited & He was former Permanent Secretary to the Ministry of Transport
Having studied at the Taxila Vidyalaya, Horana.
Perera enrolled in the National Diploma in Technology (Non-Destructive Testing) program at the Institute of Technology, University of Moratuwa before dropping out later to pursue his business ventures.
In 2014, after four years with the IRC, Dhammika joined MSI Reproductive Choices (then Marie Stopes International) as the global medical director.[6] The clinical team he leads guides service delivery and quality across the MSI partnership, providing medical and clinical leadership to 35 MSI country programmes across Africa, Asia, Latin America, UK/Europe, and Australia.
He was a keynote speaker at the 2017 Family Planning Society conference of the Chinese Medical Association held in Chengdu.[citation needed] He delivered the keynote address at the 2019 Medical Students for Choice (MSFC) conference in Philadelphia.[7][8]
Selected publications
- Article: MSF in Liberia: To stay or not to stay – ÀBÁ volume 48 – May 2010
- Letter: Why copyright science?
He speaks to the hearts of Sri Lankans, urging them to embrace a future where the nation doesn’t merely catch up to the world but sets new benchmarks of excellence.
It’s more than just a book—it’s a beacon of hope, a call to action, and a reminder that the future is ours to shape.In late 2007, he moved to Liberia as a country medical coordinator for the Swiss and the Spanish sections of Médecins Sans Frontières.
This deal positioned Vallibel One to capitalize on domestic construction demand, incorporating DHT's PowerTech Premium Cement brand into its manufacturing portfolio.[40]In July 2025, Perera secured a 77.4% stake in East West Properties PLC, purchasing approximately 107 million shares at Rs. 30.20 each for Rs.
3.2 billion through multiple transactions. Six months into his placement, he was appointed as the Country Director for the two MSF sections. The list of its authors can be seen in its historical and/or the page Edithistory:Dhammika Perera (physician). Dhammika Perera challenges us all to think big, act boldly, and believe in the boundless potential of Sri Lanka.
Valued for its LPG distribution, manufacturing, and retail operations, the deal extended Perera's reach into energy and consumer sectors, with LAUGFS generating substantial revenue from fuel imports and downstream activities.[42][43]The year's spree culminated in October 2025 with the acquisition of a 40.58% stake in Harischandra Mills PLC for Rs.
2.57 billion, involving 778,946 shares bought at Rs. 3,300 each from Senthilverl Holdings (Pvt.) Ltd. This infusion targeted the consumer goods and milling segment, leveraging Harischandra's established flour and rice processing to diversify Vallibel One's agro-industrial assets.[44][28]Complementing these, in September 2025, LB Finance PLC—a Vallibel One subsidiary—announced plans to acquire a 65.6% controlling stake in Associated Motor Finance PLC for Rs.
3.7 billion, further deepening Perera's footprint in non-banking financial services.
Dhammika draws from his rich experience as a business magnate and economic strategist, weaving together a narrative that is as much about possibility as it is about practicality.
Each chapter pulses with the energy of his vision, exploring key pillars like education, economic development and infrastructure. In 2000, he purchased Pan Asia Bank, a loss-making entity at the time, and subsequently transformed it into a viable commercial bank under his oversight.[12] This marked his initial foray into banking, where he holds a major shareholder position to date, emphasizing strategic investments in licensed commercial banks.[19]By 2003, Perera extended his reach into non-banking finance through the acquisition of LB Finance PLC, integrating it as a subsidiary under his Vallibel Oneconglomerate and focusing on leasing, loans, and margin trading services.[20] In 2005, he acquired The Rupee Finance Company Limited, renaming it Vallibel Finance PLC, where he served as chairman and expanded operations in savings, fixed deposits, and personal loans.[21] These moves established a foundation in diversified financial services, with Perera maintaining executive oversight to drive profitability amid Sri Lanka's post-war economic recovery.Perera's banking portfolio also includes a strategic stake in Sampath BankPLC, complementing his Pan Asia holdings as core interests in the sector.[22] While he has traded stakes in other banks—such as partial divestments from Commercial Bank in October 2025 for Rs.
5.5 billion and a full exit from Seylan Bank earlier that month—his focus remains on select institutions with turnaround potential.[19][23]In September 2025, LB Finance, under Perera's control via Vallibel One, secured Central Bank approval to acquire a 65.6% controlling stake in Associated Motor Finance Company PLC for Rs. 3.7 billion, enhancing its motor vehicle financing capabilities and signaling ongoing consolidation in the non-banking finance space.[24] This transaction, involving 74 million shares, underscores Perera's strategy of targeting undervalued finance firms for operational synergies and market expansion.[25]
Diversification across Manufacturing, Trading, and Leisure Sectors
Perera expanded his business interests beyond initial ventures by acquiring controlling stakes in diversified conglomerates such as Hayleys PLC in 2008 and founding Vallibel One PLC, which facilitated investments across manufacturing, trading, and leisure.[26][4] Through these entities, he targeted sectors with established revenue streams and growth potential in Sri Lanka's post-war economy, emphasizing operational efficiencies and strategic acquisitions.[27]In manufacturing, Perera gained control of Royal Ceramics Lanka PLC and Lanka Tile PLC via Vallibel One, focusing on ceramic tiles, bathware, and related products that capitalized on domestic construction demand.[10] These holdings produce and export items like porcelain tiles and sanitaryware, contributing to Vallibel One's portfolio of industrial goods.The acquisition enhanced his real estate and leisure holdings, aligning with prior expansions in property development and hospitality under Vallibel One subsidiaries.[3][41]September 2025 saw Perera complete a 50% stake purchase in unlisted LAUGFS Holdings Ltd. via Vallibel Three (Pvt.) Ltd., establishing an equal partnership with co-founder W.
K. H. Wegapitiya. These transactions, executed amid Colombo Stock Exchange volatility, underscored Perera's focus on value-driven consolidation rather than speculative growth.[24]
Economic Contributions and Business Achievements
Dhammika Perera has established himself as a prominent figure in Sri Lanka's business landscape through strategic investments and leadership in diversified conglomerates, notably Vallibel One, which oversees subsidiaries in manufacturing, ceramics, steel, and consumer goods.This isn’t just a book—it’s a masterclass in visionary leadership, a manifesto that dares to imagine a nation reborn, thriving and positioned at the forefront of global innovation and economic prowess.
In this transformative work, Dhammika Perera doesn’t just propose change—he meticulously crafts a blueprint for it.