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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Lumbini Aquaria

Lumbini Aquaria

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1Lumbini Aquaria  Empty Lumbini Aquaria Tue Aug 13, 2013 6:17 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Lumbini Aquaria

Lumbini Aquaria  LF0001-Red%20Guppy

In the topics related to CIFL , Kanrich , Maloney and Abbot the name of the above establishment was mentioned few times in this forum.

I would like to write few lines about the history of  Lumbini, the internationally famous ornamental fish exporter company of Sri Lanka.
Once famous and thriving with the visionary care of the founders, later went out of the control of the original owners due to lot of painful happenings.

I hope this writing will enhance  our young in someway .



Lumbini was a small backyard hobby - business started in 1952 by Mr. Lloyd Perera with the support of his close relative Gratian Peiris. They bred and sold fish to local hobbyists. They were high class rich people, never seen outside their empire, if not inside Mercedes.

Mr. Perera had acres of ancestors lands in Ratmalana/Mt,lavinia and a big land area about 5 acres in Chakkindarama Road where he lived was converted in to a fish farm with hundreds of tanks of various sizes, equipments and shelters.

Divers of the fishing folks living  along the beach from Wellawatta to  Wadduwa soon started supplying marine fish to them and in 1953 they started exporting live fish to Europe. Continuous oxygen needed for marine care was supplied by Oxygen Company.

The front area of the residence was a beautiful garden with lot of  trees, ponds , imported birds  and natural looking artificial features. Film makers and famous individuals like late Gamini Fonseka, Rukmani Devi were seen there as they used the location for films very often.

This great gentleman, Mr. Lloyd Perera work hard to make the company in to a world renowned ornamental fish breeder and supplier and hundreds of people were given employment.
Many new varieties of fishes were bread, some award winning internationally.

Lumbini Aquaria  Blue%20Diamond%20Guppy

Lumbini was famous for breeding high quality Guppies and many worlds famous varieties were developed crossbred there. The business brought million of foreign exchange to the country.  Lumbini became very famous and powerful, even the adjoining road was named as Lumbini Avenue .

Later they spread the breeding ponds  to Narammala, Giriulla  and to dry zone areas to increase the supply.
They were planning an IPO in 1990s.

Four decades of prosperity ended and the dark period of Lumbini started due to severe conflicts in the management and the control was taken over by descendants of the aging founder.

Due to heavy private spending in unknown affairs, the assets of  the company and  the prestigious land in Ratmalana (‘Mt Lavinia’ as they used) was mortgaged to a finance company by the new in power. Finally, after many years of deteriorating  they lost the ownership due to non payment of few millions.  This came into light when an unknown company placed a barrier with a banner in front of the premises saying “This is the property of CIFL” !

During  mid 2000 , the old buildings and fish breeding equipment were removed or demolished  and land was blocked out by the company to sell with the promise of building up market houses for the buyers.  

Few years later , we saw the individual buyers of land lots were going here and there complaining misdoings in the deed conversions, half way done construction and ownership transfers .

I do not know what exactly has happened but they blame that CIFL has sold those lands without having 100% ownership thus the buyers did not get the deeds or housed years after paying 19-22 million per  8 peach block and their rights are seriously jeopardized .

If you go there you can see many half build 2 storied houses sheltering stray dogs at the moment. This has been the situation for past many years.  The site looks like a ruined city and the people who paid their life savings are in fear of loosing entire investment.

By today’s valuation, the land is worth over half a billion (500 million.) and it is at a walking distance to  Galle Road , in the land side between Maliban Junction and Mt. lavinia. I do not think the original owners mortgaged it even for a fraction of that value.   Recently, another finance company , City Finance, came in to the land and CIFL is no more in the scene.
We have a link about it: (http://forum.srilankaequity.com/t18789-city-finance-seeking-to-convert-50-of-deposits-to-shares)

By the way, from the beginning, the local people of the area were not happy for the name given to a fish breeding business because Lumbini was the sacred birth place of Load Buddha. They predicted this as "Asubha" and curse would definitely bring harm to the owners of the establishment . පවුකාර වැඩ වලට දාගත්ත නම ! ලුම්බිනි නම නිසා වස් වදිනවා.

After realizing his business empire may fail and go out of hands from the family due to painful behavior and bad business decisions of his descendants Mr. Perera stayed away form the company and even from his residence in later years. Before that he gave away many houses built and rented by him to the tenants for nominal amounts and gifted some lands and money to the Buddhist temple.
He passed away few years ago.

Mr. Lloyd Perera was a horticulture enthusiast, an active member of Ceylon Orchid Circle, had many types of rare Orchids , a vast knowledge and related literature with him.

Lumbini Aquaria  Lloyd_10

When he realized no one would take care of his much loved books he presented some to the writer (chinwi) somewhere in late 80s or 1990s. He was very pleased to see my small collection of blooming orchids at that time.  I do not know what happened to his plants. The most precious of the literature , the inaugural edition of “Orchidologia Zeylanica” published in 1934, a very rate book is in my safe hands since then.

I am happy to learn; at least a miniature part of original Lumbini is with me, fortunately not related to fish breeding.
No fear of curse of course.  !


Some images from the books

Lumbini Aquaria  Oz_19310
Orchidologia Zeylanica 1936 cover


Lumbini Aquaria  1936_c10
Car Advertisement.


Lumbini Aquaria  1936_c11
Camera Ad.

Lumbini Aquaria  Oz_20010
Orchidologia Zeylanica 2009 Cover


Lumbini Aquaria  Dendro10
Present day Hybrid at my place. Actually it is White Dragon (not Gragon)


Current Owners :
http://www.lumbiniaquaria.lk/management.html

2Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 6:59 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Thanks for the valuable information and the time you spend on writing it!

3Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 7:25 pm

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ Chinwi - very interesting write-up. Thanks.

Re Ornamental Fish / Export - Very profitable & lucrative business during 1950's - 1970's. i have followed this business closely. someone known to me (who is no more) pioneered this. remember the Aquarium down Dickmans Road, Eastern Aquarium ...... ! i remember even JR in 60's visiting that place. I think Lumbini came just after that.     
Re Orchids - The Mamujee Villa (down Asoka Gardens Bambalapitiya last house now on marine drive) used to have one of the best collections in their special greenhouse on their property. Mr Mamujee in the 40's & 50's had a superb collection. Later French Embassy bought this property from the Abdeen family. now i hear it is to be demolished.

Peradeniya Botanical Gardens also has a good Orchid Collection.

4Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 7:53 pm

SHARK aka TAH

SHARK aka TAH
Expert
Expert
Thanks for info.i worked there as accountant for short stint before I took up the job in qatar.

5Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 7:59 pm

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Wonderful article Chinwi, BTW how old are you? and what is ur profession?

6Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 9:02 pm

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Jana1 wrote:Wonderful article Chinwi, BTW how old are you? and what is ur profession?
Very Interesting question.

Chinwi, really enjoyed your article.

Lumbini is now in Pagoda Road, Nugegoda, bit close to my residence.

What relationship Deepthi Perera have with the founder? Finally now it’s own by ASPIC which is under Meloney.

7Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 10:42 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@The Alchemist wrote:@ Chinwi - very interesting write-up. Thanks.

Re Ornamental Fish / Export - Very profitable & lucrative business during 1950's - 1970's. i have followed this business closely. someone known to me (who is no more) pioneered this. remember the Aquarium down Dickmans Road, Eastern Aquarium ...... ! i remember even JR in 60's visiting that place. I think Lumbini came just after that.     
Re Orchids - The Mamujee Villa (down Asoka Gardens Bambalapitiya last house now on marine drive) used to have one of the best collections in their special greenhouse on their property. Mr Mamujee in the 40's & 50's had a superb collection. Later French Embassy bought this property from the Abdeen family. now i hear it is to be demolished.

Peradeniya Botanical Gardens also has a good Orchid Collection.
Yes, Lumbini was at Ratmalana and later they opened outlets somewhere , now I can't remember.
I can remember a big Aquarium ( Eastern as you mentioned) and also some other person who bred excellent Guppies. There was another place challenging to Lumbini in local market segment somewhere in Mt.Lavinia .

Re. Mr. Mamujee , I have heard of him from old crowd. He has been an active member of the Circle holding many positions in 1940-50s.

On tribute to him,  an artist depicted him as an Orchid flower in the journal.
I Scanned this from Orchidologis Zerylanica Vol.3 No.3 1936

Lumbini Aquaria  A_mamu10
Mr. A.Maamujee

8Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 10:55 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@hariesha wrote:
What relationship Deepthi Perera have with the founder? Finally now it’s own by ASPIC which is under Meloney.
Not his son .  I do not know any close link.

Somehow, ownership change was a smartly arranged  commercial deal.

For past many years, I was wondering how they lost over 1 billion of assets  in this drama.

Now , after identifying all the related parties, I think I can imagine what happened.

9Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 11:28 pm

kukumarx


Manager - Equity Analytics
Manager - Equity Analytics
Thank you for a lovely article Chinwi. The depth of your knowledge is amazing! From the computer industry
( http://forum.srilankaequity.com/t26112-pc-house-and-the-global-pc-industry?highlight=PC+house ) to now orchids and ornamental fish!

I also appreciate the time effort and love you put into sharing all this knowledge!

10Lumbini Aquaria  Empty Re: Lumbini Aquaria Tue Aug 13, 2013 11:45 pm

kukumarx


Manager - Equity Analytics
Manager - Equity Analytics
@The Alchemist wrote:
    
Re Orchids - The Mamujee Villa (down Asoka Gardens Bambalapitiya last house now on marine drive) used to have one of the best collections in their special greenhouse on their property. Mr Mamujee in the 40's & 50's had a superb collection. Later French Embassy bought this property from the Abdeen family. now i hear it is to be demolished.

It is already demolished. I was sad to see it go. It was a beautiful house

11Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 12:33 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Chinwi wrote:
@hariesha wrote:
What relationship Deepthi Perera have with the founder? Finally now it’s own by ASPIC which is under Meloney.
Not his son .  I do not know any close link.

Somehow, ownership change was a smartly arranged  commercial deal.

For past many years, I was wondering how they lost over 1 billion of assets  in this drama.

Now , after identifying all the related parties, I think I can imagine what happened.
Great article really really worth to bring back the old days. By the way how did it end up with Deepthi perrera?

12Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 2:04 am

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Chinwi. Thanks. .. am amazed by your knowledge about the world and of course it's very fascinating.

Once I tried to grow orchids but its something you cannot do from a distance. (unless you have a very reliable person who has can do attitude.). So eventually I had to sell that. But I still believe growing orchids is a profitable business in Sri Lanka. However you have to have right connections though.

The alchemist/hariesha another two great resources of info. thanks.

13Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 5:10 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Good article and with some nice history.,


Do you have the Orchidologia Zeylania full set ( all vols and nos) From 1934 to date ?

14Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 8:39 am

troy

troy
Moderator
Moderator
Great to see different aspects of human life.. truely colourful life... of u CHINWI.

Think U ra a one big character we all know if revealed ur name. Thanks for writing and sharing ur knowledge.

15Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 9:31 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@slstock wrote:Good article and with some nice history.,


Do you have the Orchidologia Zeylania full set ( all vols and nos)  From 1934 to date ?

I have only the volumes Mr Prerera gave to me.
Those days OZ was a world famous publication with lot of information and he had collected some prints from 1934 to 1960.
During wold wars no prints. From 1953 to 1957 again nothing printed.
I bough 75th anniversary print in 2009. Thereafter I didn't see any new volume.

Usually they organize the annual show in August at Viharamahadevi park .
Now the authorities have shifted the plant selling place to Battaramulla, near waters edge and they do not allow such shows.

As they couldn't find any place before August I heard they have almost cancelled the show.

16Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 9:44 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yes pre 1950 ones a contain quality plates.
Other famous Zeylanica series include

Spolia Zeylanica
Epigraphia Zeylanica


If you are into orchids below two books are very good/collectible sources

Orchid Culture : In Ceylon and the East by F Price. Pub around late 1920s
Orchid Culture in Ceylon . A Symposium by Members of the Orchid Circle of Ceylon
by E Soysa 1943




@Chinwi wrote:
@slstock wrote:Good article and with some nice history.,


Do you have the Orchidologia Zeylania full set ( all vols and nos)  From 1934 to date ?
I have only the volumes Mr Prerera gave to me.
Those days OZ was a world famous publication with lot of information and he had collected some prints from 1934 to 1960.
During wold wars no prints. From 1953 to 1957 again nothing printed.
I bough 75th anniversary print in 2009. Thereafter I didn't see any new volume.

Usually they organize the annual show in August at Viharamahadevi park .
Now the authorities have shifted the plant selling place to Battaramulla, near waters edge and they do not allow such shows.

As they couldn't find any place before August I heard  they have almost cancelled the show.  

17Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 9:51 am

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thank you very much for sharing this Chinwi

18Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 10:00 am

K.Haputantri

K.Haputantri
Co-Admin
Thanks chinvi. Its a nice article.

19Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 11:45 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Chinwi wrote:Lumbini Aquaria

Lumbini Aquaria  LF0001-Red%20Guppy

In the topics related to CIFL , Kanrich , Maloney and Abbot the name of the above establishment was mentioned few times in this forum.

I would like to write few lines about the history of  Lumbini, the internationally famous ornamental fish exporter company of Sri Lanka.
Once famous and thriving with the visionary care of the founders, later went out of the control of the original owners due to lot of painful happenings.

I hope this writing will enhance  our young in someway .



Lumbini was a small backyard hobby - business started in 1952 by Mr. Lloyd Perera with the support of his close relative Gratian Peiris. They bred and sold fish to local hobbyists. They were high class rich people, never seen outside their empire, if not inside Mercedes.

Mr. Perera had acres of ancestors lands in Ratmalana/Mt,lavinia and a big land area about 5 acres in Chakkindarama Road where he lived was converted in to a fish farm with hundreds of tanks of various sizes, equipments and shelters.

Divers of the fishing folks living  along the beach from Wellawatta to  Wadduwa soon started supplying marine fish to them and in 1953 they started exporting live fish to Europe. Continuous oxygen needed for marine care was supplied by Oxygen Company.

The front area of the residence was a beautiful garden with lot of  trees, ponds , imported birds  and natural looking artificial features. Film makers and famous individuals like late Gamini Fonseka, Rukmani Devi were seen there as they used the location for films very often.

This great gentleman, Mr. Lloyd Perera work hard to make the company in to a world renowned ornamental fish breeder and supplier and hundreds of people were given employment.
Many new varieties of fishes were bread, some award winning internationally.

Lumbini Aquaria  Blue%20Diamond%20Guppy

Lumbini was famous for breeding high quality Guppies and many worlds famous varieties were developed crossbred there. The business brought million of foreign exchange to the country.  Lumbini became very famous and powerful, even the adjoining road was named as Lumbini Avenue .

Later they spread the breeding ponds  to Narammala, Giriulla  and to dry zone areas to increase the supply.
They were planning an IPO in 1990s.

Four decades of prosperity ended and the dark period of Lumbini started due to severe conflicts in the management and the control was taken over by descendants of the aging founder.

Due to heavy private spending in unknown affairs, the assets of  the company and  the prestigious land in Ratmalana (‘Mt Lavinia’ as they used) was mortgaged to a finance company by the new in power. Finally, after many years of deteriorating  they lost the ownership due to non payment of few millions.  This came into light when an unknown company placed a barrier with a banner in front of the premises saying “This is the property of CIFL” !

During  mid 2000 , the old buildings and fish breeding equipment were removed or demolished  and land was blocked out by the company to sell with the promise of building up market houses for the buyers.  

Few years later , we saw the individual buyers of land lots were going here and there complaining misdoings in the deed conversions, half way done construction and ownership transfers .

I do not know what exactly has happened but they blame that CIFL has sold those lands without having 100% ownership thus the buyers did not get the deeds or housed years after paying 19-22 million per  8 peach block and their rights are seriously jeopardized .

If you go there you can see many half build 2 storied houses sheltering stray dogs at the moment. This has been the situation for past many years.  The site looks like a ruined city and the people who paid their life savings are in fear of loosing entire investment.

By today’s valuation, the land is worth over half a billion (500 million.) and it is at a walking distance to  Galle Road , in the land side between Maliban Junction and Mt. lavinia. I do not think the original owners mortgaged it even for a fraction of that value.   Recently, another finance company , City Finance, came in to the land and CIFL is no more in the scene.
We have a link about it: (http://forum.srilankaequity.com/t18789-city-finance-seeking-to-convert-50-of-deposits-to-shares)

By the way, from the beginning, the local people of the area were not happy for the name given to a fish breeding business because Lumbini was the sacred birth place of Load Buddha. They predicted this as "Asubha" and curse would definitely bring harm to the owners of the establishment . පවුකාර වැඩ වලට දාගත්ත නම ! ලුම්බිනි නම නිසා වස් වදිනවා.

After realizing his business empire may fail and go out of hands from the family due to painful behavior and bad business decisions of his descendants Mr. Perera stayed away form the company and even from his residence in later years. Before that he gave away many houses built and rented by him to the tenants for nominal amounts and gifted some lands and money to the Buddhist temple.
He passed away few years ago.

Mr. Lloyd Perera was a horticulture enthusiast, an active member of Ceylon Orchid Circle, had many types of rare Orchids , a vast knowledge and related literature with him.

Lumbini Aquaria  Lloyd_10

When he realized no one would take care of his much loved books he presented some to the writer (chinwi) somewhere in late 80s or 1990s. He was very pleased to see my small collection of blooming orchids at that time.  I do not know what happened to his plants. The most precious of the literature , the inaugural edition of “Orchidologia Zeylanica” published in 1934, a very rate book is in my safe hands since then.

I am happy to learn; at least a miniature part of original Lumbini is with me, fortunately not related to fish breeding.
No fear of curse of course.  !


Some images from the books

Lumbini Aquaria  Oz_19310
Orchidologia Zeylanica 1936 cover


Lumbini Aquaria  1936_c10
Car Advertisement.


Lumbini Aquaria  1936_c11
Camera Ad.

Lumbini Aquaria  Oz_20010
Orchidologia Zeylanica 2009 Cover


Lumbini Aquaria  Dendro10
Present day Hybrid at my place. Actually it is White Dragon (not Gragon)


Current Owners :
http://www.lumbiniaquaria.lk/management.html
will it be possible for you to reveal how the current owners managed get the ownership of Lumbini? did they buy it?

20Lumbini Aquaria  Empty Re: Lumbini Aquaria Wed Aug 14, 2013 2:40 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
Lumbini is the place where Queen Mayadevi gave birth to prince Siddhartha Gautama.

They use this name to sell fish.....pathetic!

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