Following the momentous acquisition of Singer (Sri Lanka) by Hayleys Plc last month, Hayleys Plc Chairman and Chief Executive Mohan Pandithage was appointed Chairman of Singer (Sri Lanka) and business tycoon and Co-Chairman Hayleys Plc Dhammika Perera was appointed Co-Chairman of Singer (Sri Lanka).
These appointments are effective from 2 October 2017 and come in the wake of the landmark acquisition made by Hayleys Plc and its subsidiaries recently. Both of these respected corporates collectively account for a market presence of over 280 years.
Commenting on the appointment, Pandithage said: “In alignment with our group’s growth-oriented vision, my leadership team and I look forward to leveraging the time-tested and extensive expertise of Singer Sri Lanka, along with the tremendous diversity of the Hayleys Group. We are extremely excited over the immense scope of business opportunities that await both entities in the journey ahead.” Elaborating further, he added: “We look forward to bringing a wide range of innovative, high-quality lifestyle products which are truly affordable to the heart of Sri Lankan society.”
Perera said: “With this historic acquisition we are confident that we will make a tangible change to Sri Lankan homes and lifestyles. Given the strength of Singer (Sri Lanka), one of the most iconic and trusted retail brands in the country, we believe that this dynamic fusion of centuries-old expertise of two of the most respected corporate entities will take Hayleys Plc, the largest conglomerate in the country, to unprecedented heights. We will build on Singer (Sri Lanka’s) brand equity and island-wide retail network, in alignment with our forward-thinking approach.”
Nearing its 140th year, Hayleys has a global presence in 16 countries across all five continents. It is the largest and most diversified conglomerate in the country. This acquisition creates a total of 16 Public Listed Companies under the Hayleys Group umbrella.
Established in 1878, Hayleys Plc is one of Sri Lanka’s largest multinational business conglomerates driving a globally competitive business portfolio cutting across manufacturing, agriculture and services. The group is internationally recognised as a leader in innovation and currently operates manufacturing and services facilities in Sri Lanka, Indonesia, Myanmar, the Maldives, Thailand, Bangladesh and Singapore.
Its marketing facilities are located in Australia, India, Malaysia, Italy, Japan, The Netherlands, UK, US and British Virgin Islands. The group accounts for approximately 3.53% of Sri Lanka’s export income, 3.4% of its tea and 3.8% of its rubber production. It is one of the highest foreign exchange earners in the country, and sources 95% of its raw material manufacturing requirement locally, while providing employment to over 30,000 employees.