Colombo, Sri Lanka, November 2024 – Thilan Wijesinghe (investment banker and owner of TWC group and pioneer of PPPs in Sri Lanka) joins Mahindra Ideal Finance Limited (MIFL) as an Independent Non-Executive Director. MIFL is a joint venture between Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) of India and Ideal Motors of Sri Lanka. This appointment aligns with the company’s ongoing growth strategy, following the recent appointment of Mufaddal Choonia, who has held many senior positions at the Mahindra Group in India, as Managing Director & CEO of MIFL in July 2024. Together, these leadership additions mark a significant step forward in Mahindra Ideal Finance’s mission of playing an active role in Sri Lanka’s finance sector by offering innovative financial solutions.
Thilan Wijesinghe brings unparalleled expertise in investment banking and financial services, coupled with a deep understanding of public policy and corporate strategy. Prior to founding TWC in 2012, Thilan served in both the private and public sectors: in the private sector as Group Managing Director/ CEO of Asian Hotels Properties PLC, Forbes & Walker Ltd, Overseas Realty PLC and co-founding several pioneering businesses in tourism, e-commerce and gem cutting; in the public sector, Thilan has been a former Chairman of the Board of Investment and National Agency for Public Private Partnership.
Speaking with Thilan Wijesinghe on his new appointment, he stated: “I am honoured to join Mahindra Ideal Finance at this pivotal stage in its growth journey as it leverages the strengths of the majority shareholder, Mahindra Finance of India, one of India’s leading Non-Banking Finance companies, with an asset base of more than USD 13 Billion. I am especially keen to see how MIFL’s focus on delivering innovative and digitally-enabled financial solutions, serving the needs of emerging Sri Lanka, will help drive inclusive growth in our country”.