Dr Sarath Obeysekera

Investor Briefing for Policy Consideration

The Trincomalee Marine Industrial Hub Tokenized Fund (TMT Fund) is a pioneering initiative designed to mobilize private and diaspora capital for the development of Sri Lanka’s proposed Marine Industrial and Offshore Repair Hub in Trincomalee. Using blockchain-based tokenization, the fund allows fractional investment and transparent participation in a Public–Private Partnership (PPP) structure. The pilot model aims to attract USD 500 million in capital while ensuring traceability, liquidity, and compliance with national

financial regulations.

How the Tokenized Fund Works

1. A licensed fund manager establishes a Special Purpose Vehicle (SPV) to own project equity.

2. The SPV issues digital tokens (TMT Tokens) on a regulated blockchain network (e.g. Polygon or

Ethereum).

3. Each token represents a fractional ownership share, with a proposed value of USD 10 per token.

4. Investors—local, institutional, and diaspora—purchase tokens through a compliant digital platform.

5. Capital raised funds marine infrastructure: dry docks, rig repair yards, and offshore mooring systems.

6. Revenues from dock fees, oil storage leases, and vessel conversion projects are distributed as automated

token dividends.

7. Tokens can be resold or redeemed, enhancing liquidity and secondary market access.

Key Benefits for Sri Lanka

Regulatory and Implementation Pathway

The project will operate under the supervision of the Securities and Exchange Commission of Sri Lanka

(SEC) and the Central Bank’s regulatory sandbox for digital assets. The fund manager will be a licensed

entity under the Unit Trust Code. All investor onboarding will comply with KYC/AML standards. A local

custodian bank and blockchain registry will jointly maintain records of ownership to ensure legal

enforceability of tokenized shares.

Simplified Fund Structure (Diagram Summary): Investor Wallets → Blockchain Registry (TMT Tokens) →

Fund SPV → Trincomalee Marine Industrial Project → Revenue Flow → Automated Dividends to Token

Holders

Benefit Description

Mobilizes Capital Attracts USD 500 million+ from private and diaspora investors through fractional participation.

Transparency Blockchain ledger ensures real-time visibility and auditability of fund transactions.

Liquidity Tokenized structure allows flexible secondary trading, unlike traditional bonds.

Foreign Investment Improves global investor confidence through digital access and SEC oversight.

Reduced Debt Reliance Shifts infrastructure financing from external loans to equity-based participation.

Next Steps for Consideration

• Endorsement by Ministry of Industries and SEC for regulatory sandbox inclusion.

• Formation of PPP Steering Committee for Fund establishment.

• Appointment of licensed fund manager and blockchain technology partner.

• Investor outreach program targeting diaspora and institutional partners.

• Launch of TMT Fund Pilot Issue (USD 500 million equivalent).Prepared by Sarath Obeysekera — Concept Note for Policy Re

Regards

Dr Sarath Obeysekera