CDS bolsters corporate services portfolio | Sunday Observer

CDS bolsters corporate services portfolio

From left: Assistant Manager CDS, Nadeera Athukorala, CSE Head of Legal Ms. Renu Ranathunga, Head of CDS, Nalin Fonseka, CSE CEO Rajeeva Bandaranaike, Director of Melstacorp and Distilleries Company of Sri Lanka, Niyomal Balasooriya, Managing Director of Melstacorp, Amitha Gunarathne, Distilleries Company of Sri Lanka and Melstacorp  Group Financial Controller Cleetus Mallawaarchchi, Assistant Manager Customer Relations Management CDS, Hemal Weerasinghe and Legal Officer Distilleries Company of Sri Lanka and Melstacorp, Ms. Nuwanthi Gunawardena.   

The Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), has bolstered its client portfolio in Corporate Action services and Registrar services with the addition of Distilleries Company of Sri Lanka PLC (DCSL) and Melstacorp PLC (Melsta).

The CDS launched these services in mid-2018 and is offering services to 18 clients represented in eight industries. As part of the agreements, CDS will now provide registrar service coverage for DSCL and Melsta in maintaining the share ledger, cash/script dividend, Rights issues, share sub-divisions, capitalisation of reserves and other corporate actions. The move by CDS to introduce new services comes as a number of depositories around the world is expanding on their traditional role to be more customer facing, by offering new services and leveraging on technology.

Head of CDS, Nalin Fonseka said, “Marking a new era in our journey, CDS launched corporate action services and registrar services to develop into a more customer centric and customer focused organization.

“We welcome Distilleries and Melstacorp to our portfolio and look forward to honouring the trust placed in CDS with service excellence. We are confident that engaging CDS will allow the companies to significantly improve their efficiency when dealing with the capital market as well as pave the way to enhance investor relations.”

“The fact that CDS has been at the heart of the Sri Lankan Stock Market offers us vital differentiation and uniquely positions CDS to effectively deliver these services.

Considering that these services are linked to our core services, we also have the ability to offer cost efficiencies and considerable convenience to listed companies and their investors” he said.