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Company profile

Company profile

Asha Phillip Securities Ltd was originally incorporated in December 1982 as Mercantile Stock Brokers Ltd, a subsidiary of Mercantile Credit Ltd. (MCL).

On the 22nd of October 1992 the company changed its name to Allied Stock Brokers and, in addition to the head office; a branch in Matara was established. With the Colombo stock market experienced rapid growth, the company formed an alliance with Phillip Securities of Singapore in 1993. This move was in line with the industry trend where several major Sri Lankan stock brokerages entered into partnerships with foreign brokerage houses. On the 19th of January 1994, the company was renamed as Allied Phillip Securities Ltd.

With the acquisition of the majority stake by Mercantile Merchant Bank, the firm’s name was changed to MMBL Phillip Securities Ltd in 1998 to reflect the new ownership structure.

The firm was renamed in 2003 to Asha Phillip Securities Ltd with renowned high net worth investor, Mr. M. M. Udeshi acquiring 59.22% of the company from Mercantile Merchant Bank.  Phillip Securities continued to retain its holdings in the firm.

Currently the firm operates the largest branch network amongst Sri Lankan stock brokers, bringing the opportunity to invest in capital markets closer to all Sri Lankans.

Our Vision

Be the designated “Benchmark service provider” in wealth management.

Our Mission

Delight the customer with well-balanced risk-return tradeoffs while strictly adhering to industry ethics.

Our Values

  • Customers

    Our customer interests always come first

  • Ethics

    We observe best in class ethical practices

  • Unity

    Networking synergies through encouraging teamwork

  • Sustainability

    Social and environmental well-being is a common responsibility

Current Position

As a pioneer member of the Colombo Stock Exchange, we offer both Equity and Debt Trading to investors. We operate the largest stock brokering network in the country, with highly skilled and trained Investment Advisors. Through our partnership with the Phillip Capital Group of Singapore, we extend our services to overseas investors from our international desk established at Phillip Securities Office at Raffles City in Singapore.

Asha Phillip's key strengths are:

  • Largest market share (by number of transactions)
  • Widest branch network
  • Skilled and competent Investment Advisors
  • Strict adherence to compliance and ethical practices

Board of directors

Mr. M.M. Udeshi

Mr. D.S. Abeyesekera

Mr. H.M. Udeshi

Mr. Goh Yong Seng

Mr. ONG Teong Hoon

Mr. G.R. Wijewardana

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  • (+94) 11 2429 100
  • (+94) 11 2429 199
  • No 60, 5th Lane, Colombo 03, Sri Lanka