A New Brand Identity for Browns Plantations Sector

In keeping with the Group's vision for expansion and diversification, with the acquisition of Udupussellawa Plantations PLC and Hapugastenne Plantations PLC from Finlays in December 2021, Browns Plantations has evolved into a leading plantation company. In a strategic move to expand its boundaries, the Browns Group, has changed the brand identities of Maturata Plantations Limited, Udupussellawa Plantations PLC and Hapugastenne Plantations PLC under Browns Plantations with effect from 01st October 2022.

This new development is in keeping with the Group's pioneering spirit which has and continues to innovate, adapt and transform. The brand identities are representative of an era of growth and exciting opportunities for one of Sri Lanka's most recognized and largest plantation companies, to date. Spanning approximately a total of 25, 415 hectares of land and cultivating a diverse range of produce such as Tea, Rubber, Cinnamon, Coconut, Commercial Timber and Ancillary Crops, Browns Plantations is poised at the cusp of success in a cross-section of key industries.

Browns Group has a history spanning over 147 years of heritage which is embodied in the new Browns Plantations identity. All three plantation companies have been recognized locally and globally with various awards such as Social Dialogue Award, Responsible Care Award, Gold Winner in the Ceylon Tea Speciality Estate of the Year Competition and Grand Charity Auction. Moreover, most of Browns Plantation Estates are trusted with standards and certifications such as Rainforest Alliance, ISO 2200 and HACCP.

Under the successive unification, Browns Plantations will continue to play a pivotal role in the country's economy and development in these key industries. The Company's malleability to changing environments, adoption of state-of-the-art technology in order to deviate from the traditional plantation model and its unique community offerings make the Company a force to reckon with.

Browns Plantations continues to make strides in sustainability, while keeping the business, environment and its people in mind. Large-scale re-forestation campaigns - commercial timber planting programs; community development initiatives and innovative workforce modalities are some of the key projects undertaken by the Company.

Browns Plantations which falls under Browns Investments PLC, owns and manages Maturata Plantations Ltd., which comprises tea estates in the Nuwara Eliya District and others in the Matara District along with Tea, Cinnamon and Rubber. While Udupussellawa Plantations focuses on producing some of the finest Ceylon Tea, its portfolio additionally includes Rubber, Coconut, Coffee, Cocoa, Pepper and Cardamom. Hapugastenne Plantations estates comprise of Tea, Rubber, Timber and other commercial crops.

Browns Plantations Chairman, Dr. Pradeep Uluwaduge stated, "In keeping with the Browns Group's spirit of innovation and vision to play a pivotal role in the nation's economy, this is the first time that three key Plantation companies have been synergized under one brand identity. Its multi-crop industries encompassing tea, cinnamon, rubber and coconut makes this merger all the more powerful in every way."

The below brand identities will be used in all Company communications whilst discontinuing all previous ones used by the Plantation companies.

Established in 1875, Browns has flourished over the years to grow into a household name with a reputation as strong as its years are long. Today, the prestigious Browns Group is one of Sri Lanka’s largest diversified conglomerates, which manages a fast growing and valuable portfolio of brands across several key industry sectors, such as automotive; power generation; agriculture and plantation; pharmaceuticals; investments; marine and manufacturing as well as leisure.

Browns Investments was ranked third amongst the top 05 Most profitable Companies in 21/2022 by LMD 100

Browns Investments was ranked third amongst the top 05 Most profitable Companies in 21/2022 by LMD 100. Browns Investments mirrors its ultimate parent’s highly diversified nature, capitalized by investing in many fast growing industries in Sri Lanka. In addition to long term, medium term investments and joint ventures, the company also manages a portfolio of investments and listed securities which are all key thrust areas for the economy while also being a large foreign exchange earners for the nation.

On the same LMD ranking, LOLC Holdings PLC has retained its top position as the ‘Most Profitable Entity in Sri Lanka’, for the fourth consecutive year in 2021/22, while Brown & Company PLC was placed fourth.

Udupussellawa & Hapugastenne Plantations Appoint New Members to Board

Udupussellawa Plantations PLC and Hapugastenne Plantations PLC, which are operated under Browns Plantations, have appointed four new Non-Executive Directors to its boards effective March 30, 2022; Dr. Pradeep Uluwaduge, Mr Kamantha Amarasekara, Ms Sunjeevani Kotakadeniya and Mr T. Dharmarajah.

Mr Anusha Suhanda Perera, who currently serves on the boards of the aforementioned companies as an Independent Non-Executive Director, has been appointed Executive Director of both plantations. Dr. Pradeep Uluwaduge took over as Chairman of both Udupussellawa Plantations PLC and Hapugastenne Plantations PLC as the successor of Mr Anusha Suhanda Perera. Mr G.D.V. Perera who is a veteran planter and the former Chairman of the Planters’ Association has also joined Browns Plantations as a Senior Consultant effective April 01, 2022.

With the acquisition of Udupussellawa and Hapugastenne plantations, Browns Plantations has grown to be recognised as one of the largest plantation companies in Sri Lanka. Browns Plantations prides itself in being a key supplier to the Colombo Tea Auction, which is the oldest uninterrupted one in the world. The Company with its emphasis on exceptional quality has set new standards in offering ‘a good cup of tea.’ For over 150 years, the tea industry led by resilient planters, spearheaded Sri Lanka's economy and continues to play a significant role in the country's development, and Browns Plantations is delighted to be a part of this journey of national importance.

From January to December 2021, Browns Plantations has produced and sold over 12,321,994kg of tea as the largest tea producer in Sri Lanka with a total market share of 15% among the Regional Plantation Companies (RPC), which makes us the number one producer of Ceylon tea in Sri Lanka.

Commenting on the appointments, Dr. Pradeep Uluwaduge stated, “LOLC Group ventured into the plantation sector a decade ago as a result of its business diversification strategy. We recently acquired Udupussellawa Plantations PLC and Hapugastenne Plantations PLC, which were under the wing of Finlays. We are optimistic about the enormous potential of these estates and will focus on the merits of the industry, which sustained the country for decades and will continue to support the economy in the future. We are certain that we can turn these two plantations around to be the most profitable plantation business in the country while ensuring sustainability at every stage of our operations.”

Udupussellawa Plantations owns 11 thriving estates, including Alnwick, Blairlomond, Delmar, Gordon, Waldemar, Concordia, Court Lodge, Park, Duckwari, Madulkelle, and Yatawatte. While Udupussellawa Plantations is more focused on growing exceptional quality Ceylon Tea, the portfolio boasts a wide range of crops such as Rubber, Coconut, Coffee, Cocoa, Pepper, and Cardamom. 19 Reputed estates come under Hapugastenne Plantations; Alupola, Galabode, Hapugastenne Tea, Hapugastenne Rubber, Depedene, Hatherliegh, Madampe, Springwood, Adawatte, Dammeria A, Dammeria B, Hopton, Shawlands, Bibile, Demodera, Nahaville, Oodoowerre, Rookatenne, and Newburgh. Furthermore, the portfolio of Hapugastenne Plantations includes Tea, Rubber, Timber and other commercial crops. Hapugastenne and Udupussellawa Plantations comprise of 30 tea farms and 20 processing centres which sit within six of the seven agro-climatic regions of Sri Lanka.

Browns Plantations, which falls under Browns Investments PLC, owns and manages Maturata Plantations PLC as well. Maturata Plantations comprises of 11 Tea estates in the Nuwara Eliya District and another 08 estates in the Matara District with Tea, Cinnamon and Rubber.

Browns Investments is a subsidiary of Brown & Company PLC, under which all Non-Financial sectors of the Group are clustered.

Club Hotel Dolphin Reopens its Doors After Rs.300 Million Upgrade

A ribbon cutting ceremony was held marking the official reopening of Club Hotel Dolphin to the public and heralding a new age in post-pandemic travel. Kapila Jayawardena, Group Managing Director/CEO of LOLC Holdings PLC & Chairman of Serendib Hotels PLC; Eksath Wijeratne, Group General Manager of Browns Hotels & Resorts; Adrian Jansz, General Manager-Sales and Marketing of Browns Hotels & Resorts, and Suresh Athukorala, General Manager of Club Hotel Dolphin were among the distinguished attendees.

Set along the western coastline of Waikkal, the renovated Club Hotel Dolphin is fully geared to welcome travellers from around the world. Fronted by an investment of over Rs.300 million by Browns Hotels & Resorts, a subsidiary of Browns Investments PLC; a full renovation was carried out to meet the present day traveller’s needs.

Club Hotel Dolphin is the ideal location for tourists to both begin and end their beach holiday in Sri Lanka, being close proximity to the Bandaranaike international airport. The hotel features 154 guest rooms with ultra-modern amenities, 2 swimming pools, 4 bars, 2 restaurants, 2 cafes, a conferencing venue, spa fitted with a sauna and steam room, fully-fledged gymnasium and a kids’ club. The hotel also hosts a range of indoor and outdoor activities including badminton, tennis, beach volleyball, archery, squash, pool, billiards, chess, darts, table tennis, carom and a variety of board games to ensure everyone has a fun-filled time. Guests truly are spoilt for choice, with an all-encompassing range of delightful guest amenities and activities, making it the perfect location for anyone looking for a vibrant all-inclusive getaway.

Serving the freshest catch of the day, the talented chefs whip up dishes using locally sourced ingredients that will leave guests craving for more. The open kitchens at both restaurants allow guests to watch the club chefs work their magic, simply elevating the overall dining experience.

“Admiral Court”, the conferencing venue coupled with an energetic animation team, and all other in- house facilities make Club Hotel Dolphin the preferred choice for corporates; to facilitate meetings, incentives, conferences and exhibitions.

Eksath Wijeratne, Group General Manager of Browns Hotels & Resorts commented, “Club Hotel Dolphin stands out as we offer a substantial range of exciting activities for travellers of all ages. We are certain that the hotel would be the number one choice for families and large groups of friends looking for a fun filled holiday in the tropics.”

LOLC Group’s investments in the leisure sector are clustered under Browns Investments, which maintains controlling interest in a number of properties in iconic locations in the country. The portfolio currently consists of Avani Bentota Resort, Club Hotel Dolphin, Dickwella Resort & Spa, Hotel Sigiriya, The Calm Resort & Spa, 05 boutique properties under Reveal The Collection, Sheraton Kosgoda Turtle Beach Resort, Occidental Paradise Dambulla and Occidental Eden Beruwala. A further 2 projects; including a 5-star resort in Beruwala, and Port City Mega Leisure development comprising of a 5-star city hotel are scheduled to be unveiled in the near future. A series of offshore investments in the Maldives including 4 resorts and 1 city hotel/condominium, and a 5-star resort in Mauritius too has been added to the development pipeline.

Browns Hotels & Resorts unwavering efforts in uplifting tourism even during the toughest of times, makes it one of the most sought-after hospitality brands in the region, and is a testament to the optimistic outlook the Company has on post-pandemic travel, as they prepare to welcome travellers from around the globe.

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Avani Bentota Resort reopens its doors to the world

23rd of March 2022 - A ribbon cutting ceremony was held marking the official reopening of Avani Bentota Resort to the public and beckoning a new age in post-pandemic travel. It was attended by Kapila Jayawardena, Group Manager Director/ CEO of LOLC Holdings PLC & Chairman of Serendib Hotels PLC; Eksath Wijeratne, Group General Manager of Browns Hotels & Resorts; Adrian Jansz, General Manager-Sales and Marketing at Browns Hotels and Resorts and Channa Ekanayake, General Manager, Avani Bentota Resort.

Set along Sri Lanka’s western coastline, the renovated Avani Bentota Resort is now fully geared to welcome travellers from around the world. Fronted by an investment of Rs.300 million by Browns Hotels & Resorts, a subsidiary of Browns Investments PLC; a full renovation was carried out to meet the present day traveller’s needs.

Originally designed by world renowned architect Geoffrey Bawa, the revamped resort features 75 chic guest rooms and suites, 03 dining outlets, a gymnasium, spa, as well as 02 conferencing and event venues, in addition to the modernised guest support service area and kitchen, in the hopes of providing guests with a more superior and efficient service. While the recently renovated resort boasts of a contemporary and sophisticated design, it retains Bawa’s signature style and an inimitable Dutch-colonial charm.

Guests are sure to be spoilt for choice with one of the most extravagant breakfast buffets in the west coast, which also includes Sri Lankan specialties. For a more intimate setting, guests can indulge in exquisite dining experiences right on the beach with carefully curated menus, simply sip sundowners by the pool, or order in. Culinary adventures enhanced with dreamy ocean views are assured at Avani Bentota Resort.

LOLC Group’s investments in the leisure sector are clustered under Browns Investments, which maintains controlling interest in a number of properties in iconic locations in the country. The portfolio currently consists of Avani Bentota Resort, Club Hotel Dolphin, Dickwella Resort & Spa, Hotel Sigiriya, The Calm Resort & Spa, 5 boutique properties under Reveal The Collection, Sheraton Kosgoda Turtle Beach Resort, Occidental Paradise Dambulla and Occidental Eden Beruwala. A further 2 projects; including a 5-star resort in Beruwala, and Port City Mega Leisure development comprising of a 5-star city hotel are scheduled to be unveiled in the near future. A series of offshore investments in the Maldives including 4 resorts and 1 city hotel/condominium, and a 5-star resort in Mauritius too has been added to the development pipeline.

Commenting on the recent acquisitions, Kapila Jayawardena said, “With a steadfast approach to innovation and bold strategies, Browns Investments will continue to invest in the leisure and hospitality sector both in Sri Lanka and overseas, as we believe that there will be an upsurge in travel globally.”

Eksath Wijeratne added, “While the Covid-19 pandemic has disrupted the hospitality industry worldwide, the global vaccination drives have been instrumental in regenerating and boosting tourist arrivals in to the country. Most tourists currently gravitate towards the informal sector. Nevertheless, we are hopeful that a steady increase in the overall tourist arrivals to the country will result in positive occupancy levels across both formal and informal sectors by end 2022.”

The unwavering efforts of Browns Hotels & Resorts in uplifting tourism even during the toughest of times, make it one of the most sought-after hospitality brands in the region, and is a testament to the optimistic outlook the Company has on post-pandemic travel, as they prepare to welcome travellers from around the globe.

Pictured left to right; Channa Ekanayake, General Manager Avani Bentota; Kapila Jayawardena, Group Manager Director/ CEO of LOLC Holdings PLC & Chairman of Serendib Hotels PLC; Adrian Jansz, General Manager-Sales and Marketing at Browns Hotels and Resorts and Eksath Wijeratne, Group General Manager of Browns Hotels & Resorts.

Browns Investments PLC acquires Udapusselawa Plantations PLC and Hapugastenne Plantations PLC

Browns Investments PLC yesterday announced the acquisition of shares worth 90% in Udapusselawa Plantations PLC and Hapugastenne Plantations PLC for Rs. 1.9 billion from Finlays Sri Lanka, who were present in the country for 128 years.

The deal is at Rs. 42 per Udapusselawa (UDPL) share and Rs. 28.30 per Hapugastenne (HAPU) share. Price paid for UDPL is 81% premium to the Net Asset Value of Rs. 23.17; and for HAPU, it was 154% premium to NAV of Rs. 11.13. The transaction will be executed shortly. The sale will mark the exit of the 1893-established Finlays from the plantation business though it will continue with other businesses.

Post-announcement, Udapussellawa Plantations share price gained by 25% or Rs. 6.70 to close at Rs. 33.60, whilst Hapugastenne Plantations also rose by 25% or Rs. 4.30 to close at Rs. 21.70. Strangely, the two counters more-or-less saw trading of 66,000 shares each. Browns Investments’ share gained by only 2% or 30 cents to Rs. 14.30. The share price of Brown & Company recorded a gain of Rs. 13.25 (3.90%) to close at Rs. 353.25.

BIL is to make a mandatory offer to buy the remaining stake in both companies. Udapusselawa's public float is 10%, held by 12,121 shareholders; and Hapugastenne's public float is 10%, held by 21,393 shareholders.

High net worth investor Imtiaz Buhardeen said the deal is likely to re-rate the plantation sector stocks and trade at higher prices.

UPL and HPL comprises of 30 tea farms and 20 processing centres which sit within six of the seven agro- climatic regions of Sri Lanka.

In a statement, Finlays said there will be no immediate change for any of the employees of either plantation company, and Browns intends to continue to run the business as it has been operated until now.

“Finlays will continue to be represented in Sri Lanka by Finlays Colombo Ltd., its tea blending and packing operation, which sources teas from multiple origins, including Hapugastenne and Udapussellawa via the Colombo auction. This means that Finlays is able to continue to provide an uninterrupted service to customers,” the statement said.

Finlays Group Managing Director Guy Chambers said: “After careful consideration and a rigorous selection process, we have agreed to transfer ownership of our Sri Lankan Tea Estates to Browns Investments PLC.”

“As a Sri Lanka-based investment firm with a strong track record in agriculture, Browns Investments PLC is ideally placed to unlock the long-term value of Hapugastenne Plantations PLC and Udapussellawa Plantations PLC. These Sri Lankan farms have played an important role in Finlays’ history, and we are sure that they will continue to flourish under the ownership of Browns Investments PLC. I would like to thank our tea farm colleagues in Sri Lanka for their passion and commitment, and wish them well for the future,” Chambers added.

BIL Director Kamantha Amarasekera said: “Hapugastenne Plantations and Udapussellawa Plantations are two of the best managed and productive plantation companies in Sri Lanka, and we are proud to be associated in their future journey. We will work with Finlays to ensure a smooth transition between the two groups. We warmly welcome the management and staff of Hapugastenne Plantations and Udapussellawa Plantations to the Browns family, which has a business heritage dating back to 1875.” BIL also owns Maturata Plantations Ltd., which manages 19 estates spread across 11,595 acres mainly with tea and a total forestry extent of 1,600 hectares has 1,195 hectares of commercial timber, 380
hectares of fuelwood and also 405 hectares of cinnamon. BIL is also engaged in fertiliser, crop care and seeds business via AgStar PLC. Separately, BIL’s related parties Brown and Company and LOLC own a 49% stake in Galoya Plantations Ltd., producing sugar.

With a history spanning over 125 years in Sri Lanka, Finlays has 7,285 hectares of tea farms and grows over 10 million kilos of tea annually via the two listed companies, of which around 7 million kilos are exported to customers in over 30 countries. It has 20 tea processing factories in its farms producing, black, green and oolong teas and a modern packing plant.

Finlays Sri Lanka is part of Swire Group, a highly diversified global business group. Global firm Finlays was founded in 1750 and is a leading independent B2B manufacturer and supplier of tea, coffee and botanical solutions to beverage brand owners worldwide. Apart from Sri Lanka, Finlays has tea plantations in Kenya, Argentina and China with a combined hectarage of 27,000.

B Investments invests $ 114 m in Port City

Browns Investments PLC (BIL) on Friday revealed that it had already invested $ 114 million, or Rs. 23.2 billion, so far for multiple projects in the Port City with commitment for a further $ 86 million in the next two years.

The payment through BIL's subsidiaries is after securing a 99-year leasehold rights of identified plots (over 74,400 square metres) at the Port City by entering into Indentures of leases on 2 December with the Colombo Port Economic Commission.

The amounts already paid for leases and respective projects include $ 42 million for Colombo International Financial Centre via BIL's subsidiary Ceylon Real Estate Holdings Ltd. The amount paid is part of the $ 102 million total lease cost for the 30,630 square metres of land for the project.

BIL, which is the LOLC Group's strategic investment arm, has via subsidiary Colombo Marina development Ltd. fully paid $ 55 million for 30,776 square metres of land for the Colombo Marina Development.

Additionally, via subsidiary Marina Hotel Holdings Ltd. $ 17 million was paid initially for the Port City Marina Hotel Development on a 12,006 square metre land plot. Total commitment is $ 43 million.

BIL said the balance $ 60 million for the Colombo International Financial Centre would be paid within a year and the $ 26 million payable on Port City Marina Hotel Development would be in two instalments in 2022 and 2023.

Friday's disclosure was a follow up to its original announcement in December last year revealing the MoU signed with China Harbour Engineering Company Ltd. (CHEC) to start the Colombo International Finance Centre (CIFC) Mixed Development project.

The project will be piloted over two phases whereby BIL is partnering with CHEC for Phase One via the incorporation of a Special Purpose Vehicle company. In the December 2020 disclosure, BIL said the total investment in Phase One amounts to $ 450 million with a buildable land area spanning 3.06 hectares which is leased from CHECH Port City Colombo Ltd. to the new SPV that will be jointly owned and managed by BIL and CHEC.

“This will be a significant undertaking involving the construction of one residential apartment tower, one serviced apartment tower, one office tower and a retail podium on the ground floor,” the original announcement said.

The mega announcement with progress of money paid and committed however didn’t boost BIL share price on Friday as it closed 10 cents higher at Rs. 14.50 (in September last year it closed at Rs. 2.70).

Nevertheless, BIL has been the most actively traded stock on the Colombo Stock Exchange (CSE) whilst its public float is 16.7% or 2.4 billion shares. Brown and Company and related parties control over 80% stake. LOLC Holdings share price closed down Rs. 5.50, or 0.56%, to Rs. 974.75, but Brown and Company closed up Rs. 3.50, or 1.26%, to Rs. 281.

BROWNS HOTELS & RESORTS AWARDED TRIPADVISOR TRAVELER’S CHOICE 2021

Reinforcing its commitment in providing an exceptional holiday experience for guests, Browns Hotels & Resorts once again was awarded the TripAdvisor Traveler’s Choice for the year 2021.

The prestigious award was bestowed to all properties under the Browns Hotels & Resorts portfolio inclusive of Calm Resort & Spa, Dickwella Resort & Spa, Club Hotel Dolphin, Hotel Sigiriya, Avani Bentota Resort and also the villa collection, Reveal, including Lantern Boutique Hotel, Ubuntu Beach Villas, The Beach House, Stafford Bungalow and Tri.

TripAdvisor is the world’s largest travel platform, which connects travelers across the globe to genuine reviews and opinions. Independent guest reviews are submitted based on a criterion, which includes location, service, facilities etc. making it the most reliable and notable travel platform in the world.

Commenting on the award received, Group General Manager Eksath Wijerathne said, “We are honoured to receive the coveted TripAdvsior Traveler’s Choice once again for our collection of hotels & villas. This is a true testament of our team’s commitment and dedication in providing an outstanding service to our valued guests. We are humbled by this recognition given for our efforts especially whilst conquering a trying year due to Covid-19. We will continue to uphold our promise of service par excellence across our unique properties as we look forward to welcoming our guests back.”

Browns Hotels & Resorts’ fast-growing portfolio includes distinctive properties spanning across key tourist destinations in the island. As a trustworthy hospitality brand, Browns stays true to its service ethos by providing a personalized and plush holiday experience to guests.

The Calm Resort & Spa in Passikudah is set along one of the world’s longest stretches of shallow coastline allowing guests to wade out in pure serenity, take part in exciting water sports or explore the wonders of the East Coast.

Dickwella Resort & Spa is located a few minutes away from the world-renowned surfing destination, Hiriketiya and is the perfect family holiday destination offering a variety of recreational & dining facilities for a memorable getaway.

Hotel Sigiriya offers an experience of embarking on a journey of discovery through the heart of Sri Lanka's Cultural Triangle. The eco-retreat is set amidst lush greenery and boasts the best view of the iconic Sigiriya Rock.

Club Hotel Dolphin is your ideal fun-filled family holiday destination with a myriad of activities and adventure all packed together. With two pools – one being the longest in the country, a brilliant gymnasium, indoor & outdoor games, bars and restaurants, guests here are spoilt for choice.

Avani Bentota Resort is a designer hotel nestled along the golden beach stretches of Bentota. Designed by renowned architecture, Geoffrey Bawa, this contemporary property promises a rejuvenating beach holiday.

Reveal, The Collection is a compilation of boutique villas offering luxurious holiday spaces around the island. Set along the glistening beach stretches of Mirissa are three properties; Lantern Boutique Hotel - an oceanfront villa with open spaces inviting a tropical lifestyle, Ubuntu Beach Villas, two-standalone contemporary villas comprising of sixteen rooms seamlessly blending tropical comforts with natural elegance, and The Beach House - a stylish beachfront getaway with six tastefully designed rooms.

Located in view of the scenic Koggala Lake, Tri is a contemporary, sustainable and luxurious boutique hotel sheltered amidst natural beauty. Moving into the chilly hill caps in Nuwara Eliya, Stafford Bungalow is a 130-year old refurbished planter’s bungalow set amidst a working tea plantation in Ragala, designed with an old-world charm.

Browns Hotels & Resorts is a subsidiary of the Browns Group, one of Sri Lanka’s largest diversified conglomerates, which manages a fast growing and valuable portfolio of brands across several key industry sectors, such as power generation; home and office solutions; agriculture and plantation support services; pharmaceuticals; investments; marine and manufacturing; and healthcare.

LOLC Group achieves first-ever historic profitability in Sri Lanka’s corporate sector, recording a stunning Rs. 57 Bn in PBT

Sri Lanka’s most valuable and globally diversified financial conglomerate, the LOLC Group, posted a record-breaking performance for the financial year ending 31st March 2021, achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT), and a Profit After Tax (PAT) of Rs. 53Bn - a first for any corporate in the country. By achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group once again consolidated its position as the top most profitable diversified corporate in the country, three years in a row - establishing LOLC as one of the largest Micro and Small Medium Enterprises (MSME) platforms in the world.

This stunning performance by LOLC resulted in a Rs. 28Bn being recorded as Profits Attributable to the Equity Holders of the Parent company. The Group results denote an impressive Earnings Per Share of Rs. 59.01 compared with Rs. 22.93 recorded in the previous year. Whereas, the total comprehensive income was Rs. 81Bn out of which Rs. 37Bn is attributable to the Equity Holders of the Parent company. Furthermore, the total attributable comprehensive income per share was Rs. 77.84. The resultant Net Assets Value per Share as at the year-end was Rs. 286.23 compared to Rs. 194.72 reported last year, demonstrates the exceptional value creation by the Group during the concluded financial year.

The story of LOLC’s rise into an elite blue-chip within a span of 40 years is nothing short of awe-inspiring, surpassing competitors who have been in existence for over a century. A pioneering leasing company established in the year 1980, in collaboration with ORIX Corporation of Japan and International Finance Corporation (IFC), LOLC, revolutionized the future of MSMEs in Sri Lanka and rose in stature as Sri Lanka’s largest Non-Banking Financial Institution (NBFI). Having established a high performance microfinance business model, LOLC rapidly exported its expertise to global markets such as Cambodia, Myanmar, Indonesia, Philippines, and Pakistan in Asia; as well as Zambia and Nigeria in East and West Africa, bringing prosperity to people at the bottom of the pyramid. In addition, the Group has established its footprint in the Maldives and Sierra Leone in the arena of Non-Financial Services.

In Sri Lanka, the LOLC Group diversified into agriculture and plantations, leisure, renewable energy, construction, manufacturing and trading, information services, as well as research and innovation over and above its flagship financial services. All of these businesses recorded an upward trend in profitability in 2020/21, despite the adverse effects of COVID-19 being felt by Sri Lanka’s economy through 2020, coupled with weak GDP growth in the preceding year. Despite the global economic downturn experienced during the period, a strong pipeline of multilateral and bilateral funding has been available to LOLC and its operating companies both locally and globally - a testimonial to the confidence these institutions have placed in the LOLC Group due to its strong and unblemished track record and the potential for growth even during turbulent times.

Performance of Financial Services Companies

LOLC’s financial services have brought about life-changing financial inclusion in MSMEs in Sri Lanka, empowering frequently marginalized communities to build a better future for their families - driving women’s empowerment and financial independence by encouraging their entrepreneurial ambitions. Overall, the LOLC Group’s Financial Services achieved a Rs. 17.3Bn as bottom line despite allowing for a strong level of risk mitigating provisions amounting to Rs. 30Bn for bad and doubtful debts on a very conservative basis against Rs. 17Bn last year. Livelihoods of people in all sectors have been badly affected by the COVID 19 pandemic and at the request of the regulators of each country, the Group’s Financial Services Companies have extended moratoriums to affected customers - extending a safety-net to those in need.

LOLC’s finance companies in Sri Lanka experienced a strong level of deposit inflows despite the all-time low interest rates. The flagship finance company - LOLC Finance PLC (LOFC) – with a Total Assets base of Rs. 170Bn, recorded PAT of Rs. 4.4Bn. Commercial Leasing & Finance PLC (CLC) with a Total Assets Base of Rs. 77Bn also recorded strong performance, posting a PAT of Rs. 2.2Bn in 2020/21. Meanwhile, with a Total Assets Base of Rs. 19Bn, LOLC Development Finance (LODF) PLC recorded a PAT of Rs. 155Mn.

Seylan Bank succeeded in delivering a steady PAT of Rs. 3Bn for FY2020. Deposits increased by 9.9% and advances increased by 4%, whereas the CASA Ratio stood at 33%.

LOLC’s global success took seed in 2007, when it invested in PRASAC - a Cambodian microfinance organisation - and grew it into a billion-dollar organization in less than 12 years. A 70% stake was recently acquired by the Republic of Korea’s largest commercial bank, Kookmin Bank, for US$ 603 Mn - thereby contributing to overall Group profitability and strengthening its balance sheet with a put option to divest the remaining stake in December 2021.

LOLC’s overseas financial services entities made strong contributions to the profitability of the Group in 2020/21 - with LOLC Cambodia leading the way with a US$ 45 Mn in PAT with the Total Assets base exceeding over US$ 1 Bn. In Cambodia, LOLC continues to hold a 97% stake in LOLC Cambodia - the fourth-largest microfinance company in terms of market position, and the second most profitable microfinance institution in Cambodia after PRASAC.

Venturing into Myanmar in 2013 as a greenfield operation, LOLC Myanmar Microfinance Company Limited has now become the fourth-largest among the 176 MFIs, with an asset base of US$ 175 Mn, a portfolio of US$ 126 Mn and a growing deposit book of US$ 20 Mn. LOLC Myanmar has seen exceptional performance in FY2020/21 by posting a profit of US$ 3 Mn as PAT, and envisages strong growth prospects amidst the atmosphere of a large unbanked population.

In 2017, LOLC ventured into Pakistan by investing in Pak Oman Microfinance Bank (POMB), a joint venture with the Islamic republic of Pakistan and the Sultanate of Oman, which is now poised for rapid growth in a country with a population of over 200 million - offering attractive industry fundamentals. POMB operates through 66 branches, extending its services to over 50,000 clients. The Group ventured into Indonesia in 2018, acquiring the controlling interest in PT Sarana Sumut Ventura (SSV), further expanding its global footprint. SSV is now well-positioned to capture the industry potential in a country with a population of 270 million with over a 100 million bottom of the pyramid population. SSV operates through 28 branches, extending its services to over 60,000 clients.

Tapping into other neighbouring emerging markets, LOLC invested in the Philippines - a country with a population of 110 million - through LOLC ASKI Finance and LOLC Bank Philippines - a thrift bank in 2019. LOLC ASKI operates through 15 branches, extending its services to over 3,000 clients, while LOLC Bank operates through 10 branches, extending its services to over 8,000 clients.

In the year under review, the Group made its first finance sector investment in the African region by acquiring a controlling stake of FinaTrust Microfinance Bank in Nigeria – a west African nation with the largest population in the continent of 206 million. FinaTrust will provide support to MSME entrepreneurs for significant financial inclusion in the country - operating through 8 branches and extending its services to over 3,000 clients. The Group commenced operations in Zambia by incorporating LOLC Finance Zambia as a greenfield operation - which currently operates through 6 branches.

The global expansion strategy for the financial services sector remains a key focus, with plans being made for expanding into more markets in both Africa and Asia.

LOLC’s two insurance companies: LOLC General Insurance Ltd. and LOLC Life Assurance Ltd. demonstrated strong resilience against the unprecedented impacts of the pandemic and other socio-economic adversities. LOLC Life Assurance registered a GWP of Rs 3.2 Bn - the first Life Company in the industry to achieve this milestone in less than 10 years - and posted a growth of 21% in GWP, backed by a robust growth of 59% in first year premiums: the highest new business growth in the insurance industry. Meanwhile, LOLC General Insurance achieved Rs. 6Bn in Gross Written Premium in 2020 in less than 10 years - a first for Sri Lanka.

After success in the overseas MSME sector, the company is leveraging on its vast international customer base and technical synergies to enter the micro insurance arena, already securing licenses in Cambodia and a representative office in Myanmar - thereby offering end-to-end financial security for the MSME sectors in these markets. One of the key factors for LOLC’s success in overseas sectors will be that it is penetrating markets with large populations, in order to serve the MSME segments in those countries and help them scale up the value chain.

LOLC Securities (LOSEC) Private Limited, a leading stock broker with strong retail and local and foreign institutional client base, expanded its market share from 7% to 9.5% in FY 2020/21. The company is ranked 2nd among peers in terms of Total Market Turnover during the year under review. Improved brokerage earnings, ongoing expense management policies, and positive stock market sentiment helped the company to record impressive performance.

LOLC’s expertise in financial services has been further underscored by the launch of iPay, a unique payment aggregator which has garnered close to 90,000 subscribers and enables a wide range of financial transactions through the app. It has been successfully launched in Sri Lanka and Cambodia, along with implementation plans already in place for Myanmar, Pakistan and Indonesia. iPay became the market leader in Sri Lanka in terms of customer acquisition and transaction volumes on its launch. As a tech-savvy global player, LOLC is continuously investing in technology and technology-enabled services, bringing in technology to its business to automate processes - thereby becoming a predominantly ‘phygital’ financial service provider. LOLC has standardized its local and global operations on an Oracle based common core banking platform built by LOLC Technologies named Fusion X for greater operational efficiencies.

Performance of Non-Financial Sector Companies

Brown & Company PLC with a history of 146 years, together with its investments arm, Browns Investments PLC (BI), under which LOLC’s non-financial services businesses are structured, recorded resilient performance during the year under review. Despite the challenges encountered in the macroeconomic environment and in the intensity of the competitive landscape, Browns’ trading business recorded one of its highest revenues with an increase of 45% with a gross profits increase of 47% for the FY 2020/21, while posting a PAT of Rs. 1.8Bn

Browns and BI, has energized many vital sectors of the Sri Lankan economy, including trading and manufacturing, precision engineering, mechanization of agriculture, automotive, power storage, renewable energy, leisure & hospitality, plantations, construction, marine and veterinary pharmaceuticals.

Browns is the most trusted, reliable and preferred partner for many leading global brands, introduced the world-renowned Massey Ferguson tractors back in 1952, becoming the first distributor in the whole of South and South East Asia. Further, the company harnessed its superior enterprise capabilities to make TAFE the highest selling tractor brand in Sri Lanka. Today, TAFE and Massey Ferguson enjoys a 50% market share. Yanmar Combined Harvester, the most preferred brand in the Japanese segment holds over 60% market share while SUMO, its Chinese counterpart, holds over 50% market share in that particular segment.

The Auto Power Market, with its distinctive competitiveness in technology, innovation, is well ahead of its competition with a 75% market share combined with the superior Exide, Lucas and Dagenite range. Further, RADCO, the number one brand of radiators in Sri Lanka is the market leader holding over 50% market share.

Browns also partners with leading global veterinary brands such as Zagro, MSD and Eukanuba.

In collaboration with the world’s leading brands, the company provides an unmatched range of heavy machinery – Hitachi and Sakai, and tools – Makita and Tailin, reputed for trusted technology, advance functionality and energy efficiency. In the Electric Energy Solutions, Browns has a partnership with F G Wilson. The success of FG Wilson in Sri Lanka demonstrates the technical marketing proficiency of the company. It also markets Yanmar & Hyundai and PARSUN, the world’s most reliable and durable Marine engines.

The Group’s local plantations sector operates through Maturata Plantations and Gal Oya plantations, two businesses that recorded strong performance in the year under review.

Maturata’s business focus lies in the management of the company’s tea plantations profitably while the future strategies are aligned to create long term value from cinnamon, with the company having the largest cinnamon plantation in the country. The BI Group acquired a 67% stake in Tropical Island Commodities Pvt Ltd., a cinnamon exporter in the country with a focus of developing value-added cinnamon products to attract global markets with strong demand for Sri Lankan cinnamon. During the year, Maturata recorded a historic performance with an excellent profit contribution to the Group, a PAT of Rs. 382Mn.

Gal Oya Plantations continued to enhance its sugar cane growing and production capacity with Hingurana Sugar Factory being expanded to meet local demand, which will also help the Government to reduce expenditure on sugar imports. Gal Oya also produces the highest grade ethanol in Sri Lanka.

BI Group, invested in Sunbird Bioenergy (SBSL) Limited in 2019, an agro-based company incorporated in Sierra Leone, the largest land extent allocated for sugar cane plantation in the region with 23,791Ha with the ability to increase up to 50,000Ha, produces Extra Neutral Alcohol (ENA) as per the global industrial standards. The company achieved its plantation target of increasing the sugar cane extent up to 6,500Ha from 900Ha in 2019, a remarkable achievement for the Group and produced an ENA of 14.3Mn liters. SBSL also generates and exports power to the national grid with a power generation capacity of 32MWh.

In the renewable energy sector, Sagasolar Power (Pvt) Limited, the first utility scale solar plant in the country, has been in operation for over 4 years since its commissioning in 2016 and generates steady profit contributions to the BI Group.

Browns Engineering, the Construction and Engineering arm of BI, aims to improve its market share in the telecommunication industry in Sri Lanka to be the turnkey solutions provider for telco operators. The company has performed extremely well with Rs. 1.6 Bn revenue along with Rs. 361 Mn in PAT. Further, Browns Engineering plans to expand its operations in infrastructure development projects in roads and bridges, water and sewerage, and electrical and piling work in Sri Lanka and the Maldives.

Complementing the construction business of BI, Ajax Engineers (Pvt) Ltd., (Ajax), with its strong track record in the aluminium fabricating business, became the No. 1 player in the Aluminium façade industry in Sri Lanka with large development projects being awarded to the company for end-to-end aluminium solutions. Gurind Accor Private Limited, the renowned Glass Processing company with the brand Gurind Tough is the no. 1 local glass processor, the pioneer toughened glass supplier in the country holding a dominant market share together with General Accessories & Coating Pvt Ltd. recording strong financial performance despite COVID-19 challenges directly impacting the country’s construction industry. Creation Wooden Fabricators (Pvt) Ltd, engaged in custom build furniture solutions too reported commendable financial performance during the year.

Excel World is being upgraded to become the premier food & beverage and MICE destination in Colombo City. Meanwhile, Excel Restaurants Pvt Ltd. was granted franchise rights of 7 leading restaurant brands in Colombo.

Browns Hotels & Resorts, a subsidiary of BI continued to enjoy a strong presence in the leisure sector with Eden Resort & Spa in Beruwala with 158 keys, The Paradise in Dambulla with 67 keys, Dickwella Resort & Spa with 76 keys and The Calm Resort & Spa in Pasikudah with 70 keys. With the assistance of Sri Lanka Tourism Development Authority (SLTDA), the government has formulated short-term and long-term plans to rebuild the tourism industry impacted by the pandemic. The Group’s timely conversion of these properties into repatriation hotels helped the operating hotels to enjoy a steady stream of revenues generating operating profits. Sheraton Kosgoda Turtle Beach Hotel with 172 keys, a five-star property managed by Sheraton was commissioned during the year. The Group recommenced the construction activities of Riverina Resorts Beruwala, another 365 key five-star property.

Anticipating strong growth in the leisure business in the medium to long term, BI leisure subsidiary, Eden Hotels Lanka PLC acquired the controlling stake of Serendib Hotels PLC. This acquisition adds the Dolphin Hotel in Waikkal with 154 keys, Avani Bentota with 75 keys, Hotel Sigiriya with 79 keys, and the Reveal Collection of Villa properties under Frontier Capital Pvt Ltd with 28 keys into the Group’s leisure footprint. Dolphin Hotel, Avani Bentota and Hotel Sigiriya are currently operating as Quarantine properties.

The Group’s leisure footprint expanded to the global arena with a significant investment in Maldives in the last few years. Nasandhura Maldives, a luxury city hotel with 136 rooms, 118 apartments and a sophisticated retail mall, is nearing completion. This is a flagship property and will be an iconic development in the Male city. Another project in progress on the island of Bodhufarufinolhu with 100 keys, in the Ari Atoll, Maldives is to be completed in December.

Having grown its leisure footprint significantly and with the expansion planned for the medium term, the Group will hold 2,000 plus keys in Sri Lanka and overseas leisure properties to be positioned as a significant leisure operator.

Browns Investments PLC entered into a landmark agreement to partner with China Harbour Engineering Company Limited (CHEC) to commence the Colombo International Finance Centre (CIFC) Mixed Development Project, which has strategic development project status, in Colombo Port City (CPC). This project comprises of a land area under development of 6.8 Hectares with an investment value totaling US$ 1 Bn. The total investment in Phase One amounts to US$ 450 Mn with a buildable land area spanning 3.06 hectares, which is leased from CHEC Port City Colombo (Private) Limited to the new SPV that will be jointly managed by Browns and CHEC. This will be a significant undertaking involving the construction of two residential apartment towers, one serviced apartment tower, one office tower and a retail podium on the ground floor.

The LOLC Group is also exploring Technology and Innovation aligned to His Excellency the President of Sri Lanka’s vision and to infuse local value addition. LOLC Advanced Technologies has built capacity to convert graphite to graphene and in partnership with SLINTEC, in which it has invested, is also conducting value additions such as fortifying rice with nutraceuticals; and researching organic fertilisers to cater to the current demand. LOLC’s thirst for new knowledge and scientific innovation remains insatiable. More importantly, the Group provides opportunities for local scientists to work on exciting projects and encourages a spirit of discovery and innovation not abundantly available in Sri Lanka.

Recording the highest profitability by a corporate in Sri Lanka in just a span of 40 years, LOLC Group proves that a local Company with a big heart and bigger ambitions with strong leadership, drive and agility can create a global footprint and achieve market leadership in the new territories, creating brand equity for the island-nation. The profitability levels achieved by LOLC in 2020/21 could be the historical pivot point for a new dawn in corporate sector performance for Sri Lanka. Amidst a global trend of economic uncertainty, the Group’s strategic investments and robust financial performance have infused formidable stability and resilience to Sri Lanka’s economy.

Port City Colombo secures LOLC’s and CHEC’s Investment; sets the stage for the One Billion Dollar “Colombo International Financial Centre”

Browns Investments PLC, the Strategic Investment Arm of the LOLC Group, has entered into a landmark Agreement to partner with China Harbour Engineering Company Limited to commence the Colombo International Finance Centre Mixed Development Project in the Port City Colombo. China and Sri Lanka have long established an enduring relationship characterised by economic cooperation and societal collaboration, so this partnership further underlines the confidence and commitment to development in the country through the combination of a world-renowned Sri Lankan conglomerate and a distinguished Chinese enterprise.

This is a milestone project with an investment value totalling USD 1 Bn, representing important long- term implications on the economic growth of Sri Lanka, and has been accordingly declared a Strategic Development Project under the Strategic Development Projects Act No. 14 of 2008. With two companies at the helm with substantial international expertise as well as a strong commitment towards social responsibility, it is certain that this project will drive long-term sustainable development.

Port City Colombo (PCC), a vision to build a World Class City and to be the financial and modern services hub for South Asia was spearheaded by the then-President and current Prime Minister of Sri Lanka His Excellency Mahinda Rajapaksa and was jointly inaugurated together with the Chinese President His Excellency Xi Jinping in 2014. The reclamation of 269 hectares of land from the Indian Ocean was completed in January 2019 and was declared part of Sri Lanka in July 2019 after complying with all necessary formalities including a Parliament resolution. Infrastructure development covering internal road network, water channel, utility connectivity, 2 km long public beach front and a 14-hectare large Central Park is currently in full-swing and on schedule for completion in 2021 where the PCC is well set to be the leading retail, residential and business destination in South Asia. Built as an extension of the existing Colombo Central Business District, the PCC had an initial investment of USD 1.4 Bn and an expected overall investment of USD 15 Bn when completed. There will be 5 different precincts in the completed Mixed Development scheme, namely the Financial District, Central Park Living, Island Living, The Marina and the International Island. With an estimated 5.7 Mn square metres of Built-Up Area, the PCC will boast some of the best in design, in terms of offices, medical facilities, educational facilities, Integrated Resort, Marina, Retail Destinations, Hotels and various Lifestyle Developments. Using the latest sustainable city designs and smart city concepts, PCC will be at the cutting-edge of global standards and is anticipated to be a focal point of South Asia.

The inaugural vertical development of Port City Colombo (PCC) is to be a mixed-use development which will be the Colombo International Finance Centre (CIFC), divided into two Phases of implementation. Phase One comprises the construction of residential, commercial and retail asset components set to break ground in mid-2021. Phase Two will be a commercially-oriented development with office and retail space offerings that will commence construction parallel to the start of Phase One. Located in the gateway of PCC on a total land extending across 6.8 Ha, the CIFC project will have unparalleled views of the Indian Ocean along the South-Western side of the development. Further to this, there will be breath-taking views of the Colombo Port and Financial District, particularly on the East where Grade-A offices, banks, Five-Star hotels, luxury shopping malls and tourist refreshment areas and attractions are scattered within a 500-metre-radius. CIFC is expected to attract locals, expatriates and foreigners while boasting the lifestyle and business facilities comparative to that of other renowned business hubs in the region, as well as on a global level. The CIFC Mixed Development Project is set to be positioned in the fast-developing South Asia region as a locally relevant but internationally appealing composite development. Both the Port City and its CIFC Project are sure to be facilitators in promoting FDIs to Sri Lanka.

Message from the Prime Minister’s Office

The first investment within the Port City Colombo will commence with the one billion dollar Colombo International Finance Centre (CIFC) Mixed Development Project.

The momentous agreement between Browns Investments, the strategic investment arm of the LOLC Group, and China Harbour Engineering Company Limited (CHEC) was signed this morning in the presence of Prime Minister Mahinda Rajapaksa and Ambassador of China to Sri Lanka Qi Zhenhong.

“Attracting foreign direct investment is a key priority for our Government, and this landmark project is a strong indicator that Sri Lanka is now back in business,” Prime Minister Rajapaksa said. “We invite investors from around the world to explore the multitude of investment opportunities that Sri Lanka presents with its strategic location and human resource capabilities.”

The Port City Colombo was the brainchild of Prime Minister Rajapaksa, launched during his presidency together with Chinese President Xi Jinping during his state visit to Sri Lanka in 2014. With an initial investment of US$ 1.4 billion and an expected overall investment of US$ 15 billion when completed, the Port City is set to be the leading business, retail, residential and tourist destination in South Asia.

The project comprises a total land area of 6.8 hectares, implemented under two phases. The first phase of the CIFC Mixed Development Project, with an investment of US$ 450 million and comprising a land area of 3.06 hectares, will consist of the incorporation of a Special Purpose Vehicle (SPV) company, will be jointly managed by Browns Investments and CHEC.

The overall project, which will be implemented in a sustainable and socially-responsible manner, expects to create significant quality employment opportunities across a variety of sectors.

Message from the Embassy of China

China and Sri Lanka enjoy a history of friendship and cooperation for thousands of years. It’s a great joy to see that in the new era both Sri Lanka Government and Chinese enterprise are jointly developing many mega-projects such as the Port City Colombo and welcoming partners from all around the world to build the Colombo International Financial Centre Mixed Development Project together. At this crucial moment, China once again demonstrates its confidence in Sri Lanka and commitment to help Sri Lanka's economic and social development. It’s well believed that the International Financial Centre Project will not only effectively boost the vigorous growth of Sri Lanka's finance and other industries, but also create more high-quality job opportunities, benefiting the general public and society.

Statement from LOLC Holdings PLC Group

The CIFC Mixed Development Project will be piloted over two phases, whereby Browns Investments is partnering with CHEC for Phase One via the incorporation of a Special Purpose Vehicle (SPV) company, a subsidiary of Browns Investments. The total investment in Phase One amounts to USD 450 Mn with a buildable land area spanning 3.06 hectares, which is leased from CHEC Port City Colombo (Private) Limited to the new SPV that will be jointly managed by Brpwms and CHEC. This will be a significant undertaking involving the construction of one residential apartment tower, one serviced apartment tower, one office tower and a retail podium on the ground floor. Ascending to 39 floors, the total Gross Floor Area across the investments will exceed 160,000 square metres, with residential and serviced apartments encompassing an area of over 88,000 square metres inclusive of parking, a retail space of 24,000 square metres, while the office complex will have a cross area of over 48,000 square metres. Commenting on the CIFC project, Chairman of BI and Deputy Chairman of LOLC Group, Mr. Ishara Nanayakkara stated “we are pleased to partner with CHEC on this landmark venture that optimises the true potential of Sri Lanka’s strategic location within South Asia and consider it as a privilege to be a partner in the establishment of CIFC as a unique, multifaceted project in the heart of the Central Business District of Colombo. This project is well set to establish the Colombo International Finance Centre as a premier regional hub that attracts world-class players to employ a catalytic role in Sri Lanka, encompassing multi-dimensional value creation for the entire country.”

Statement from CHEC

As a responsible and reputed international company, CHEC has been committed to improving Sri Lanka's livelihood by developing its infrastructure nationwide over the last two decades. Fulfilling our social responsibility by creating tens of thousands of local employment opportunities and driving the development of a large number of local businesses. Today marks a new beginning, while cooperating with Browns Investments PLC (the strategic investment arm of the LOLC Group), CHEC has the absolute confidence to successfully develop the Colombo International Financial Centre Mixed-Use Development Project. The project will become a new centre for international finance, offshore business, trade and logistics, IT, tourism and shopping, creating a novel international and smart life style, establishing a unique landmark for Colombo and Sri Lanka.

Jiang Houliang, Managing Director of CPCC and Ishara Nanayakkara, Executive Chairman of Browns Investments exchanging the agreement in the presence of Prime Minister Mahinda Rajapaksa.
Standing from L-R: Thulci Aluwihare, Head of Strategy Business Development of CPCC, Sun Wenbin, Director of Property Development of CPCC, Li Guangjun, Counsellor of Economic Commercial of the Embassy of Peoples Republic of China to Sri Lanka, Qi Zhenhong, Ambassador of the Peoples Republic of China to the Democratic Socialist Republic of Sri Lanka, Ajith Nivard Cabraal, State Minister of Money Capital Market and State Enterprise Reforms, Kapila Jayawardena, LOLC Group Managing Director/CEO and Kamantha Amarasekara, Director, Browns Investments.

Browns Investments Becomes Largest Shareholder of Hatton National Bank

Ishara Nanayakkara-controlled Browns Investments PLC (BIL) has raced in quick time to become the single largest shareholder at the second-largest private sector bank HNB (Hatton National Bank).

Yesterday BIL picked up bulk of the 8.47 million HNB shares (at Rs. 130 each) generating a turnover of Rs. 1.1 billion. The stock closed at Rs. 128.25, down by Rs. 1.50 whilst it hit an intra-day high of Rs. 130.75.

Daily FT learns BIL now holds 9.9% voting stake in HNB and ranks as the single largest shareholder, though Sri Lanka Insurance Corporation via two funds owns 13.35%, whilst business tycoon Harry Jayawardena via Milford Exports (Ceylon) Ltd., Stassen Exports Ltd. and Distilleries Company controls 17.83%, and Employers Provident Fund owns 9.75%.

Deals on HNB accounted for 36.5% of the day's turnover yesterday. Separately Browns Investments saw 139 million of its shares traded for Rs. 917 million or 30% of the turnover. Collectively the duo accounted for 67% of turnover on a day when the Colombo Bourse remained bearish with indices down 1%.

The acquisition of the 9.9% stake in a month at an estimated cost of Rs. 5 billion also marks the return of Browns Group to HNB, which it founded in the late 1880s and incorporated as a limited liability in 1970.

Yesterday’s seller is believed to be Norges Bank, which as at 31 December 2020 held 19.37 million shares or 4.72%. Foreign holdings in DFCC Bank decreased by 6,134,698 shares yesterday according to NDB Equities. Overall foreign holding at HNB is 75 million voting shares or 18% of the total voting shares. Early this year foreign holding amounted to over 91 million shares or 22%.

Unnoticed by most analysts, BIL has been collecting available HNB shares from April. HNB has seen selling mostly by foreigners. Between the last week of March and end April or last week, HNB has seen net foreign selling of Rs. 1 billion amounting to 8 million shares.

A spokesman for BIL said the acquisition of an HNB stake was an investment on value. “We saw good value and the stake is purely an investment,” he added.

Market saw the re-entry of Browns Group to HNB as strategic though the spokesman dismissed speculation. Browns, and related party LOLC collectively, is also the largest private shareholder at Seylan Bank with over 23% stake (Browns 13.8% and LOLC 9.36%).

The Browns acquisition also comes hot on the heels of the Central Bank in its 2020 Annual Report released on Friday renewing its call for consolidation within the banking sector, to address existing weaknesses and boost resilience, although the sector saw higher growth in assets, deposits and profits in 2020.

In its 2020 Annual Report, the monetary authority said, with respect to enhancing lending capacities of financial institutions in the context of envisaged high economic growth and the low interest rate environment, the possibilities of financial sector consolidation should be actively pursued.

“Such consolidation would enhance the resilience of the domestic financial sector, while also addressing the existing weaknesses in the sector through the creation of a large capital base, enhancing its potential to finance large-scale transactions and attract foreign investment, widening the range of financial services, and thereby improving the efficiency and profitability of the overall financial sector in the economy,” the Central Bank said.

It added that most importantly, stronger balance sheets of financial institutions would enable improved credit flows to needy and productive sectors, while increasing capacity to service the growing financing needs of the economy.

By end 2020, the banking sector comprised 30 banks – 24 Licenced Commercial Banks (LCBs), including 11 branches of foreign banks, and six Licensed Specialised Banks (LSBs).

The banking sector asset base increased by Rs. 2.1 trillion during the year, surpassing Rs. 14.6 trillion by end December 2020, recording a year-on-year growth of 17.1% compared to that of 6.2% reported as at end 2019.

The sector’s profit before corporate tax was Rs. 190 billion in 2020, which was Rs. 17 billion higher than the previous year. Profit after tax of the banking industry rose by 21.7% to Rs. 136 billion during 2020 due to changes in tax policies commencing from year of assessment 2020/21.

Brown and Company owns 46% stake in BIL whilst related parties hold few more stakes. LOLC owns nearly 70% stake in Brown and Ishara holds 80% stake in LOLC.

Ishara Nanayakkara

Dickwella Resort & Spa, unites in preparing for Christmas this year

Dickwella Resort & Spa, a little piece of heaven, located on the southernmost tip of the country, recently brought together its staff members and resident guests for a special Christmas cake mixing ceremony held at the hotel premises. The cake mixing ceremony was held on the 11th of October in anticipation of the festive season drawing closer in the coming months.

Mr. Mirza Borham, General Manager of the hotel, commented, saying, “As Christmas draws closer, Dickwella Resort & Spa has begun to buzz with activity. Our culinary master chefs together with team members have been busy preparing to feast our guests with mouth-watering cuisine and dazzling entertainment. Christmas is a special season for us as it unites families, friends and relatives. We would like to extend that same warmth of unity to our guests as well.”

Resident guests together with General Manager, Mr. Mirza Borham and team of chefs from Dickwella Resort & Spa are seen here participating in the Christmas cake mixing ceremony.

Chef Prageeth Kumara of Eden Resort & Spa wins Gold for Sri Lanka at the World Culinary Olympics 2012

The IKA World Culinary Olympics 2012 – the Culinary World’s equivalence of the Olympics Games - was recently concluded in Erfurt, Germany. Sri Lanka’s own culinary excellence was highlighted when Chef Prageeth Kumara de Silva of Eden Resort & Spa, a participant under LOLC Leisure, won the Gold Medal for pastillage showpiece titled “Inspiring Affection”. He also won a Silver medal for the ‘Vegetable Display’ category and a Merit accolade for the ‘Live Vegetable Carving’ category.

This is the first time that the LOLC Leisure Group has taken part in an international apex culinary competition of this kind and won the top-class medals – Gold and Silver – at the maiden entry itself.

Chef Prageeth Kumara hailing from Kaluwamodara, Aluthgama has been a part of Eden’s culinary team since 2010 and has showcased tremendous versatility in Pastry, Carving, Cake Structures and Showpieces. His entry into the professional culinary world began with the Riverina Hotel – an LOLC Leisure Group Hotel - as a Kitchen Trainee at the age of 19. With over 17 years of experience in Sri Lanka’s tourism and leisure sector, Chef Prageeth’s creative culinary skills have been previously recognized and rewarded with a total of 29 Gold, Silver and Bronze medals at various competitions held in Sri Lanka and abroad. Some of those noteworthy wins include, winning the Best Artist award three times at the Hotel Asia competition held in the Maldives and winning the Best Artist award at the Culinary Art 2011 held in Sri Lanka.

The World Culinary Olympics is known as the oldest competition of its kind in the world with a tradition that dates back to the year 1900 in Germany. Held every four years since then, Chefs from around the world vie to display their most spectacular culinary skills to the world.

The 23rd IKA World Culinary Olympics held this year saw 1,800 chefs from 54 nations competing with one another for a period of five days. Sweden won the overall Gold Medal whilst Norway won Silver, with host nation Germany bagging the bronze position. Canada, Switzerland, USA, Finland, Netherlands, Australia and Japan shared the top ten positions.

Commenting, Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa, said, “I am extremely proud that our very own Chef Prageeth Kumara has brought such prestigious accolades to Eden and to Sri Lanka. He has been resilient and disciplined in his preparations prior to departure, showing tremendous focus, assuring us that he would bring home the gold – and he did just that. He has paved the way for aspiring Sri Lankan chefs to put their culinary skills to the ultimate test, to win a top medal at a global platform. I wish him all the best.”

Eden Resort & Spa is a member hotel of the LOLC Leisure Group, with a rich history of over 16 years in the hospitality business in Sri Lanka. This ISO 9001:2008 and HACCP certified 5 star resort has 158 elegantly furnished luxury rooms, suites and penthouses and an exclusive spa, which has earned the hotel the prestige of being the first 5 star hotel in Sri Lanka to offer spa facilities. Other facilities provided by Eden Resort & Spa include, the availability of local and international cuisine at a choice of indoor and outdoor dining venues, fresh Sea Food, 24 hour Coffee Shop which caters to both Sri Lankan and foreign tourists, Sunday Buffet, Wedding and Conference facilities and a range of Water Sports, including diving facilities with PADI certified diving instructors.

Gold Medalist Chef Prageeth Kumara of Eden Resort & Spa

Chef Prageeth Kumara’s pastillage showpiece titled “Inspiring Affection” which won the Gold Medal at the 23rd IKA World Culinary Olympics 2012.

Vegetable Carving and Display pieces which earned Chef Prageeth Kumara Silver and Merit accolades at the 23rd IKA World Culinary Olympics 2012.

Eden Resort & Spa conducts a special CSR program to celebrate World Tourism Day

Linking cultures of the world through travel, this year's World Tourism Day was observed and celebrated on 27th of September 2011 by various tourism sector establishments throughout the world.

Initiated by the United Nations World Tourism Organization to foster awareness among local communities and to highlight values of tourism and its cultural impact, a number of events have been scheduled to take place this year under the theme "Tourism – Linking Cultures".

Eden Resort & Spa, a member of the LOLC Leisure Group commemorating World Tourism Day held a special educational program for students of the Moragalla Junior School. This program was aimed at educating the students on the benefits of choosing their careers in the tourism and hospitality industry. In addition, the hotel took the opportunity to donate Library Books and Computer Accessories fulfilling a much needed requirement of the school. General Manager of Eden Resort & Spa, Mr. Eksath Wijeratne along with other senior managers and members of staff took part in this worthy cause.

The recent post war development efforts have witnessed a colossal increase in the arrival of tourists to the country during the recent years. As a result, Sri Lanka has aimed towards 800,000 tourist arrivals during this year, and revenue of over US$ 1 billion before the end of year 2012. Furthermore, with a target of 2.5 Million tourist arrivals anticipated by the end of year 2016, the industry has focused on developing the required support systems and resources in order to meet this target.

As a result, various institutions of this sector, in partnership with government agencies, have launched several programs commemorating the World Tourism Day with a special focus at developing the tourism and hospitality industry of the country. One such program focuses on empowering Sri Lankan youth by encouraging them to consider the hospitality industry as an option for career development. The current workforce in the industry is estimated to be around 125,000 – and by 2016 it is estimated that 500,000 employees are required to serve the future tourist inflow.

At a welcoming ceremony held at the Moragalla Junior School, Mr. Eksath Wijeratne General Manager of Eden Resort & Spa together with Mrs. Kumarasiri, Principle of the School were seen lighting the traditional oil lamp.

50th foreign wedding celebrated at Eden & Resort Spa

Eden Resort & Spa, the 5-star Beach Resort located on the Golden Mile of Beruwela, successfully hosted its 50th foreign wedding ceremony for the year 2011. This being the highest number of foreign weddings held at a hotel located in the area, the 50th foreign wedding ceremony was held in grand style on the 15th of September 2011.

The lucky couple, Mr. Ian Walker and Ms. Stacey Heycock hailing from England, chose Eden as their dream wedding destination in Sri Lanka. The couple accompanied by their relatives and friends, enjoyed a traditional wedding ceremony at the resort's beach front with its pristine, golden sandy beach and the clear blue ocean completing a romantic setting.

During the recent past, Eden has conducted many foreign weddings and has gained a high reputation for its elegant wedding arrangements. One of the most attractive features popular among foreigners have been the Elephant Ride and the traditional dance rituals conducted by a highly trained, professional team of dancers and drummers from the area.

Apart from many services and facilities available for weddings at Eden, other facilities include Registration, Photography and Videography services, Cake, Food and Drinks, Special Dinners, Boat Rides, etc.

Commenting, Mr. Kapila Jayawardena, Chairman of the LOLC Leisure Group said, "At a time when Sri Lanka is experiencing high numbers of tourist arrivals, making their stay in the island a life-long memorable experience is of extreme importance. Most foreign couples have chosen Sri Lanka as an exotic, dream destination to celebrate their weddings because of its scenic beauty and rich history infused with age-old traditions and cultures. Eden Resort & Spa have always been at the forefront often going beyond measures to provide its guests a truly memorable 5 star experience."

In June last year, Eden also had the opportunity to host the wedding ceremony of Ms. Katrina Hodge -who was crowned Miss England at their Beauty Pageant held in UK last year- to Mr. Neil Simpson.

Newlyweds Ian Walker and Stacey Heycock with the Sri Lankan traditional dance troupe during their wedding ceremony at Eden Resort & Spa. This is Eden's 50th foreign wedding ceremony held this year.

Eden resort & spa creates "Signature cocktail" for Sri Lanka tourism

LOLC continued its positive stride in profit growth recording strong bottom line results as at September 2011 with Rs. 7.5Bn as PBT and Rs. 6.7Bn as PAT. The Profits before tax records a growth of 66% and the resultant profits after tax records a gain of 75% over the previous year.

In 2009, the LOLC Group repositioned its business model in line with the potential growth areas of the economy on the back drop of the new found peace. Alongside, LOLC continued expanding its core business of financial services comprising of Leasing, Hire Purchases, Loans, Factoring and Working Capital, Micro Financing, Islamic Financing, Savings, Deposits in Local and Foreign currency, Insurance in both General and Life, Stock Broking and selected strategic investments in the banking sector including Seylan and HDFC. The Group successfully established a fully-fledged motor vehicle restoration center - LOLC Motors, as a value addition to its fleet management and insurance businesses. LOLC Motors recently acquired the dealership for Fiat in Sri Lanka.

In line with the Group's diversification strategy, LOLC ventured into the Leisure sector with the acquisition of four hotels of which three are under refurbishment and when fully operational, will be the single largest hotel complex in the country. LOLC is in the process of finalizing the management agreement with one of the largest hotel operators in the world to manage this complex. With the investments made in the construction sector through the Sierra Group, Trading and Manufacturing through the Browns Group and Asia Siyaka, Agriculture and Plantation through Maturata, Pussellawa, Gal-Oya and Agstar Fertilizers and the overall investment strategies in the renewable energy sector through United Dendro and Hydro Power Free Lanka, LOLC is well poised as a Conglomerate that capitalizes the opportunities presented by the positive economic outlook.

The financial services sector remained the main contributor to the operating profits of the Group. Despite the reduction in other income compared with the previous year, the higher level of business growth at attractive interest rates led to an aggressive top line growth in the financial services sector.

LOLC's financial services subsidiaries, Lanka ORIX Finance PLC (LOFC), LOLC Micro Credit Ltd (LOMC) and Commercial Leasing Co. Ltd. (CLC), drove the business to record a 39% growth in income over the previous year. Income earned on the lending and other related businesses was 8Bn for the 6 months. Lower capital gains and reduction in marked to market gains led the company to realize relatively lower other income in the current six months. The average borrowing costs of the Group continued to slide down with several lines of foreign borrowings being received in the six months at attractive long term rates. The borrowing costs saw a 21% growth mainly due to additional funding raised to meet the aggressive business volume growth.

The trading sector recorded steady growth with a profit contribution of Rs. 481Mn, a 29% growth over the previous year. The plantations sector recorded losses for the six months as a result of the higher operating costs due to the wage hike having a negative impact on the profits derived from the diversified activities of the Group. The leisure sector recorded a negative goodwill of Rs. 3.5Bn as a result of the bargain purchase made by the Browns Investments Co. in Excel Global Holding Ltd, the parent company which fully owns Millennium Development Ltd. This strategic investment was made in line with the Group's expansion and portfolio strategy, where medium to long term investments are made in selected growth sectors. The management is currently in the process of drawing up development plans for the property. Profit contribution from the other leisure investments was a negative with three of the hotels being closed for refurbishment.

The increased levels of disbursements in the financial services sector and the increase in intangible assets led to strong growth in assets of the Group which increased by 25Bn since March 2011. The net contribution from the increased loans and advances to the assets was Rs. 17Bn. The strong bottom line results of the Group was reflected in the increase level of basic earnings per share of 7.81 an increase of 40% over the previous year and an even stronger NAV per share of Rs. 35.21 compared with Rs. 22.61 in the previous year.

LOLC's core business was well positioned to derive benefits from the positive economic sentiments seen in the first six months with the increase in demand for lending, realizing strong top line growth through the higher level of disbursements made through its country wide distribution network. LOLC, the company made Rs. 2.4Bn as profits after tax for the six months compared with Rs 865Mn in the previous year. During the quarter, the company further consolidated its position as a holding company, transferring its existing leasing portfolio to LOFC in line with the Central Bank guidelines for the transition. The company's operating expenses reduced by 16% compared with the previous year, consequent to the new businesses being booked under its financial services subsidiaries.

LOFC, LOMC and CLC recorded steady growth in profitability in line with the higher level of activity experienced in all three companies. LOFC's deposit base increased to Rs 23Bn, a 40% growth in deposits for the six months confirming the company's strong financial position and the resultant steady stream of deposit inflows. With this performance, LOFC holds the largest deposit base among the registered finance companies. LOFC recorded a 617Mn PAT for the first six months compared with Rs. 495Mn achieved in the previous year. LOMC and CLC contributed positively to the core business profitability competing well in their respective market segments of the lower SME and the Micro lending businesses. The PAT of these companies was Rs.368Mn compared with Rs. 194Mn for the previous year and Rs. 2.8Bn compared with Rs. 461Mn last year respectively.

The Group's efficient collection efforts contributed positively to reduce the provisions made on bad and doubtful debts despite the increase in business volumes, a reduction of Rs. 48Mn compared with the previous year.

CLC received Central Bank approval to convert itself to a registered finance company and this will enable the company to reach out to the public with deposit mobilization and the company is confident of commencing its finance company operations in the near future through its island-wide branch network. With the conversion of the leasing company to a registered finance company, the company will be listed as required by the Central Bank of Sri Lanka and will be called Commercial Leasing and Finance Limited.

In his review Mr. Kapila Jayawardena, Group Managing Director/ CEO of LOLC stated that, "LOLC is mindful of continuously expanding its core business while managing returns from its strategic investment portfolio. The portfolio strategy focuses on ensuring profitability and liquidity in the near term while ensuring sustainable growth in the medium to long term".

With the untapped landmass and population in North and East and the conscious efforts of the government to develop the identified growth sectors, LOLC Group is fully geared as a 'New Conglomerate' to facilitate the resurgence of the nation" Mr. Jayawardena concluded.

Ishara Nanayakkara Deputy Chairman, LOLC Group

Kapila Jayawardena Group Managing Director & CEO, LOLC

Quality reassurance from Eden Resort & Spa, Beruwela

Eden Resort & Spa, the luxury beach resort situated on the Golden Mile of Beruwela, reassures its quality standards to all visitors and guests who patronize their 5-star property. In this regard, the Hotel succeeded in gaining the ISO 9001:2008 + HACCP certificate for another period of 3 years, effective from January 2012.

ISO 9001:2008 + HACCP is a globally accepted quality management standard which helps both product and service organizations to achieve standards of quality that are recognized and respected through-out the world. Whilst ensuring food safety in compliance with internationally accepted food laws, this recertification also guarantees that meeting customer satisfaction at all aspects of its services is a top priority for the Hotel.

Eden Resort & Spa, an LOLC Leisure Hotel, is currently associated with many prestigious tour operators both local and world-wide. In order to run its extensive business to meet the stringent quality expectations of its patrons, the hotel sought to renew its compliancy with applicable statutory and regulatory laws in standardization. Thus, the recently acclaimed ISO status garnered by the Hotel speaks of Eden’s commitment to quality management.

Commenting on receiving the quality certificate, the Group Managing Director and Chairman of Eden Hotel, Mr. Kapila Jayawardena of LOLC said; “We at LOLC firmly believe in our vision to enhance commitment and achieve a positive growth for the future, and in this endeavor, compliance with all forms of regulatory requirements is strictly adhered to at all Group Company level. In this backdrop, the accreditation achieved by Eden Resort & Spa guarantees the reassurance of its quality deliverance to its patrons.”

Pictured here is Mr. Eksath Wijeratne, General Manager, Mr. Sisira Senarathne, Resident Manager and the operations management team of Eden Resort & Spa, Beruwela.

Eden Resort & Spa receives Certificate of Excellence 2012 by Trip Advisor®

Trip Advisor, the world’s largest travel site, has awarded the prestigious Certificate of Excellence 2012 to Eden Resort & Spa. This award honors hospitality excellence and is given only to establishments that consistently achieve outstanding traveler reviews on their website. By winning this accolade, Eden Resort & Spa has entered into the prestigious category in the world tourism map.

To qualify for this certification, businesses are required to maintain an overall rating of four or five or higher, out of a possible of five, as reviewed by travelers on Trip Advisor. Additional criteria include the volume of reviews received within the last 12 months. These travel ratings and comments are displayed on their interactive web forum where travelers worldwide share their views and opinions about each travel establishment they have visited.

According to this travel site, traveler ratings are considered a measure of how travelers have liked each travel establishment.It also provides would-be travelers a great opportunity to discover diverse aspects of each travel establishment and destinations prior to making a booking. Among the viewer ratings received, Eden Resort & Spa have received an overall traveler rating of four out of five.

In their congratulatory note to Eden Resort & Spa, the team at Trip Advisor has said, “Trip advisor is proud to congratulate Eden Resort & Spa on earning the prestigious 2012 Certificate of Excellence Award. Our travelers consistently commend your property with the highest praise, and we recognize your 4 rating as an exceptional achievement”.

Also speaking about this significant achievement, Mr.Eksath Wijeratne, General Manager of Eden Resort & Spa said, “Receiving this top accolade from Trip Advisor, one of the most sought after travel websites in the world, is a testimony to the world class hospitality services offered at our 5 star resort. With a service-first mind set, we go the extra mile to make our global and our local visitors feel at home, with ample luxury at their behest, making their stay with us a truly memorable 5 star experience. I am extremely proud to share this accolade with my team at Eden Resort & Spa”.

Eden Resort & Spa is a member hotel of the LOLC Leisure Group and owns a rich history of over 16 years in the hospitality and leisure industry in Sri Lanka. An ISO 9001:2008 and HACCP certified hotel, Eden’s notable accolades include, receivingCrescentrating 4 certification for Halal friendly hotels earlier this year and winner of the award for business excellence for the hospitality trade from the National Chamber of Commerce, Sri Lanka, for 2004, 2008, 2009, 2010 and 2011.

This 5 star resort has 158 elegantly furnished luxury rooms, suites and penthouses and an exclusive spa which has earned the hotel the prestige of being the first 5 star hotel in Sri Lanka to offer spa facilities.Other facilities provided by Eden Resort & Spa includes, the availability of local and international cuisine at a choice of indoor and outdoor dining venues, fresh sea food, 24 hour coffee shop which caters to both Sri Lankan and foreign tourists, Sunday Buffet, Wedding and Conference facilities and a range of water sports, including diving facilities with PADI certified diving instructors.

Eden and Dickwella of LOLC Leisure beckon holiday goers to a stupendous vacation

Two great leisure hotels of the LOLC Group beckon you and your entire family to be a part of the fun and frolic, along with a wide range of activities planned just for you, at the Eden Resort & Spa and Dickwella Resort & Spa – Down South.

A 20 – 30% discount is all yours this vacation for all Sri Lankan and Resident Expatriates.

Eden Resort & Spa, is a prestigious 5 Star Resort located on the beautiful ‘Golden Mile’ beach in Beruwela – an hour’s drive away from the capital on the Southern Expressway. Eden Resort & Spa offers you a variety of activities and surprises which include, Saturday Garden BBQ, A Fire Limbo Show, Beach party with DJ music on Thursdays for 2 hrs (at an all-inclusive supplement of Rs. 1,000/- per person), Live Bands, Solo Artists, Animation activities for kids and adults, theme dinner buffets, water sport activities, boat rides etc.

Sight-seeing for ‘traveloholics’ to places like Brief Garden, Kosgoda Turtle Hatchery, Hikkaduwa ‘Coral Garden’, Kandevihara Buddhist Temple which is just an hour away from the Resort, are some of the many attractions on board.
The ‘Golden Mile’ offers you swimming, snorkeling and diving, whilst the Hotel’s Spa will offer you an exceptional experience with new depth of luxury, encompassing a wide range of aroma therapy spa treatments, Ayurveda relaxation and rejuvenation treatments.
This halal friendly Hotel recently received the prestigious Certificate of Excellence 2012 from Trip Advisor, which is recognized as the world’s largest travel site. This traveler-rated accolade testifies the world class hospitality offered by Eden Resort & Spa.
Comprising 158 elegantly furnished Luxury rooms, Suites, Penthouses and an exclusive Spa, it also has a separate play area for Children. Availability of local and international cuisine and a choice of indoor and outdoor dining venues, fresh sea food, a 24hr coffee shop and a large swimming pool, are only a few of the facilities available.
In addition, one child up to 12 years will be entitled to a free stay in the parents room during this season.
Dickwella Resort & Spa is another haven tucked away in the Deep South of Sri Lanka. Enjoy nature’s bounty at this Resort which is built on a peninsula surrounded by the sea on three sides. It also has the distinction of being the first tourist Hotel to be built in the area which was earlier a sleepy fishing village.
76 rooms at Dickwella Resort comprise of 56 Deluxe rooms, 8 Suite rooms and 12 Family rooms. The majority of rooms offer a breath-taking Sea view, which gives you the opportunity of witnessing sensational Sunrises and Sunsets – perhaps one of the few, if not the only, place in Sri Lanka offering this splendorous phenomena in just one location.
Our ‘Coco Spa’ with Indonesian therapists, is renowned for its exceptionally rejuvenating treatments, and offers a peaceful haven to renew your spirits. Our treatments combine the highest quality of aromatic products, coupled with professional care of trained therapists, to provide all our guests complete relaxation.

The Resort has a swimming pool with Sea water and a Jacuzzi just next to it. The ‘Bay Watch’ is a beach side restaurant with an un-spoilt ocean view, where you can enjoy your favorite dishes. Guests could walk in to our Pizzeria and enjoy a variety of mouthwatering Pizzas prepared by our Italian trained Executive – Chef, on a wood fired stone oven carved from natural rock.

There are many recreational options to choose from, and many places to visit around Dickwella Resort and Spa which will be enjoyable and educational for children this Holiday season. Relax and rest at Dickwella Resort whilst on your way to Kataragama.

Galle city tour, Turtle watching, Bird watching Safaris to Kalametiya, Hummanaya (blowhole) are all time favorites whilst there are new activities and places added to the list, such as a visit to Hambantota ‘new harbor’, Whale watching and Dolphin watching at Mirissa, just 1 hr away from the Resort.

Hire a bicycle and go on a tour around the village or be a part of the Animation activities organized by the Hotel which are specifically designed for the whole family to enjoy.

Do not miss the experience of a world of entertainment this Holiday season. You owe it to your kids and yourself, to savor true hospitality in LOLC Leisure style, which we assure you will create indelible memories for one and all.

Eden Resort & Spa receives CNCI Achiever Award 2012

5 star luxury hotel brand, Eden Resort & Spa of the LOLC Leisure Group was recently honoured with a National Level Merit Award at the CNCI Achiever Award 2012, organized by The Ceylon National Chamber of Industries. Eden was presented with this award in the National Level Extra Large category (Services sector) and was the only Leisure Brand that received the award amongst reputed industry leaders from the government and private sectors. 

This year’s CNCI Achiever Award was held for the 11^th consecutive year. This unique awards concept recognizes Sri Lankan Industrial and Service Excellence, whilst rewarding them for achieving the best operational results. The awards also encourage local industries to achieve the highest quality and production standards in order to compete in international markets.

“Winning this award is a stepping stone for many more great things to come for the Eden Resort & Spa brand.” said Mr. Eksath Wijeratne, General Manager. “We have continuously striven to offer excellence in service by offering our patrons the highest quality of standards in every sphere of our operations. The continued support of our Management and staff members has given us the required impetus to keep the Eden name in the upper echelons of the leisure industry.” He concluded.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa receiving the Merit Award from Mr. G.H. Wickramasinghe, AGM Marketing – Bank of Ceylon. Also in the picture; Mr. Preethi Jayawardena, Chairman – CNCI (far left) and Mr. A.K. Ratnarajah, Past Chairman - CNCI (3rd from left)

Chef Prageeth Kumara of Eden Resort & Spa wins Gold for Sri Lanka at the World Culinary Olympics 2012

The IKA World Culinary Olympics 2012 – the Culinary World’s equivalence of the Olympics Games - was recently concluded in Erfurt, Germany. Sri Lanka’s own culinary excellence was highlighted when Chef Prageeth Kumara de Silva of Eden Resort & Spa, a participant under LOLC Leisure, won the Gold Medal for pastillage showpiece titled “Inspiring Affection”. He also won a Silver medal for the ‘Vegetable Display’ category and a Merit accolade for the ‘Live Vegetable Carving’ category.

This is the first time that the LOLC Leisure Group has taken part in an international apex culinary competition of this kind and won the top-class medals – Gold and Silver – at the maiden entry itself.

Chef Prageeth Kumara hailing from Kaluwamodara, Aluthgama has been a part of Eden’s culinary team since 2010 and has showcased tremendous versatility in Pastry, Carving, Cake Structures and Showpieces. His entry into the professional culinary world began with the Riverina Hotel – an LOLC Leisure Group Hotel - as a Kitchen Trainee at the age of 19. With over 17 years of experience in Sri Lanka’s tourism and leisure sector, Chef Prageeth’s creative culinary skills have been previously recognized and rewarded with a total of 29 Gold, Silver and Bronze medals at various competitions held in Sri Lanka and abroad. Some of those noteworthy wins include, winning the Best Artist award three times at the Hotel Asia competition held in the Maldives and winning the Best Artist award at the Culinary Art 2011 held in Sri Lanka.

The World Culinary Olympics is known as the oldest competition of its kind in the world with a tradition that dates back to the year 1900 in Germany. Held every four years since then, Chefs from around the world vie to display their most spectacular culinary skills to the world.
   
The 23rd IKA World Culinary Olympics held this year saw 1,800 chefs from 54 nations competing with one another for a period of five days. Sweden won the overall Gold Medal whilst Norway won Silver, with host nation Germany bagging the bronze position. Canada, Switzerland, USA, Finland, Netherlands, Australia and Japan shared the top ten positions.

Commenting, Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa, said, “I am extremely proud that our very own Chef Prageeth Kumara has brought such prestigious accolades to Eden and to Sri Lanka. He has been resilient and disciplined in his preparations prior to departure, showing tremendous focus, assuring us that he would bring home the gold – and he did just that. He has paved the way for aspiring Sri Lankan chefs to put their culinary skills to the ultimate test, to win a top medal at a global platform. I wish him all the best.”

Eden Resort & Spa is a member hotel of the LOLC Leisure Group, with a rich history of over 16 years in the hospitality business in Sri Lanka. This ISO 9001:2008 and HACCP certified 5 star resort has 158 elegantly furnished luxury rooms, suites and penthouses and an exclusive spa, which has earned the hotel the prestige of being the first 5 star hotel in Sri Lanka to offer spa facilities. Other facilities provided by Eden Resort & Spa include, the availability of local and international cuisine at a choice of indoor and outdoor dining venues, fresh Sea Food, 24 hour Coffee Shop which caters to both Sri Lankan and foreign tourists, Sunday Buffet, Wedding and Conference facilities and a range of Water Sports, including diving facilities with PADI certified diving instructors.

Gold Medalist Chef Prageeth Kumara of Eden Resort & Spa
Chef Prageeth Kumara’s pastillage showpiece titled “Inspiring Affection” which won the Gold Medal at the 23rd IKA World Culinary Olympics 2012.
Vegetable Carving and Display pieces which earned Chef Prageeth Kumara Silver and Merit accolades at the 23rd IKA World Culinary Olympics 2012.

Dickwella Resort & Spa, unites in preparing for Christmas this year

Dickwella Resort & Spa, a little piece of heaven, located on the southernmost tip of the country, recently brought together its staff members and resident guests for a special Christmas cake mixing ceremony held at the hotel premises. The cake mixing ceremony was held on the 11th of October in anticipation of the festive season drawing closer in the coming months.  

Mr. Mirza Borham, General Manager of the hotel, commented, saying, “As Christmas draws closer, Dickwella Resort & Spa has begun to buzz with activity. Our culinary master chefs together with team members have been busy preparing to feast our guests with mouth-watering cuisine and dazzling entertainment. Christmas is a special season for us as it unites families, friends and relatives. We would like to extend that same warmth of unity to our guests as well.”

Resident guests together with General Manager, Mr. Mirza Borham and team of chefs from Dickwella Resort & Spa are seen here participating in the Christmas cake mixing ceremony.

Eden Resort & Spa heralds the festive season in style

Eden Resort & Spa, the five star luxury hotel along the Golden Mile of Beruwala, welcomed the festive season in glamour and style, when they hosted an evening of celebrations, culminating in the traditional Christmas Cake mixing ceremony.

The ceremony took place on the 9th of November 2012 at the hotel premises, where a beautiful ensemble of the ingredients in the shape of the Hotel’s logo was on display. Together with guests, well-wishers and employees of the hotel, General Manager, Mr. Eksath Wijeratne, Executive Chef Mr. Deepal De Alwis and Executive Pastry Chef Mr. Mahesh Ranganatha presided over the cake mixing activities, symbolically heralding in yet another exciting season filled with scrumptious cuisine and all-around good time.

Eden Resort & Spa renewed with world-class 5 star luxuries

The famed 5-star luxury resort in Beruwala - Eden Resort & Spa - has re-opened its doors after briefly closing down operations for refurbishment in May earlier this year. The Hotel has infused an exciting new range of enhanced features to its existing facilities, offering a truly global 5-star leisure experience.

Speaking, Mr. Kapila Jayawardena, Chairman of LOLC Leisure Ltd said, “At Eden Resort & Spa, we have been consistently committed to providing our guests comfort and luxury. We felt that this was an opportune time to enhance and upgrade our hotel’s facilities and interior, to reflect the requirements of modern day luxury travel and leisure. We would like to make the discerning traveler – both local and international - feel that they are looked after with astute care.”

Many of the hotel’s key interior and exterior locations have been stylishly re-touched to resonate elegance and comfort. All rooms have been upgraded to Superior category, fully furnished with state-of-the-art equipment and fittings. The entire furniture supplies have been replenished with solid teak timber. The bed-head panel is the most decorative feature of this room category. The interior design of rooms has been renewed to match the plush interior of the hotel, providing holiday-makers a unique touch of class and sophistication.

Similarly, elegantly designed and spacious Super Deluxe Rooms are furnished with a private outdoor terrace for weary travelers to relax and unwind. This is an ideal place for guests to enjoy their meals in the comfort of their own, exclusive environment.

The modern-day traveler’s requirements too have been carefully looked at with a few new additions adorning all rooms - 42” flat screen TV, Blue-ray Player and Library, a sophisticated Media Hub unit, and a Bed-side Touch Panel system along with Mini Bar and Tea/coffee-making facilities, hair dryer, IDD facilities and many more. Attached washrooms too have been fully renovated using modern and stylish designs, enhancing the overall luxurious ambiance of rooms.

To provide a unique and contemporary dining experience, the newly refurbished Main Restaurant of the hotel speaks of class and sophistication by itself. This exclusive restaurant provides both indoor and outdoor dining facilities. Its latest add-on is the adjoining new timber-wood deck built on the edge of the hotel’s swimming pool, providing that ideal dining spot for a romantic rendezvous.

The new restaurant features two, built-in live-cooking stations, where guests will be given the option of having their dishes prepared instantly, to complement individual taste-buds. The adjoining new Pool Bar will offer facilities for guests to enjoy an assortment of food and beverages whilst having a refreshing dip in the renovated swimming pool.

The “7th Heaven Roof-Top Cocktail Bar” is a signature open-air bar of the hotel, which is overlooking the pool and the deep sea. “Amazing” is the very first word that is said to come to mind as visitors step into this ambient haven. A delectable cocktail menu will offer visitors best cocktails from around the world along with a variety of appetizing food.

Being attuned to the health and fitness requirements of modern travelers, Eden Resort & Spa has constructed a new, state-of-the-art Gym facility with a brand new set of fitness equipment for its resident guests.

The redesigned and landscaped Garden of the hotel provides holiday-makers one of the best views of the sea-frontage whilst offering simple pleasures of relaxing and dozing under Palm Trees.

Eden Resort & Spa is also offering a one-of-a-kind holiday cum entertainment package for revelers of all ages during the holiday weekend of 13th – 16th of December, inclusive of 40% off on full board basis, free corkage (only available on the 14th & 15th), soft drinks and beach parties.

With such amazing offers, an enhanced service offering, ample luxury; a unique experience and a touch of elegance await guests at this star class resort located on the Golden Mile of Beruwala.

Green Paradise warmly welcomes Sri Lanka and New Zealand Cricket Teams

Green Paradise Resort of Browns Investments PLC welcomed the Sri Lankan and New Zealand Cricket Teams, ahead of the 3rd ODI series held between the two nations at the Rangiri Dambulla International Stadium on 16th September 2013.

The hotel gave a warm and traditional Sri Lankan welcome to the two teams in the presence of Mr. Susantha Bandara, Resident Manager and Staff Members of the Hotel.

Led by Captains Angelo Mathews and Kyle Mills, the two teams and their entourage of coaches, managers and officials stayed at the hotel from the 13th to the 17th of November. During their stay, the teams took part in two day practice sessions prior to the main game. In September this year, the hotel also hosted the ‘A’ teams of both countries during New Zealand ‘A’ Team’s tour of Sri Lanka.

Speaking, Resident Manager, Mr. Susantha Bandara said, “It was our pleasure and privilege to host all members of the Sri Lanka and New Zealand cricket teams and to welcome them to the beautiful city of Dambulla. The entire Green Paradise team prepared well ahead of time to make their stay with us a comfortable experience. We extended our welcome to fans as well.”

Green Paradise Resort is a beautifully designed luxury hotel located in the historic and cultural hotspot of Dambulla. The township is an ideal stop-over for those travelling to Anuradhapura, Polonnaruwa and the East Coast Beach. With access to popular tourist attractions like the Dambulla Rock Temple, Cave Temples, Dambulla Reservoir and Sigiriya Rock Fortress only minutes away, this area is also renowned for having the largest ironwood forest and rose quartz mountain range in South Asia.

Surrounded by lush natural surroundings, Green Paradise Resort has been fully furnished using timber, glass and fittings of fine Italian make. It offers all amenities of a star class Hotel and consists of 67 ecologically appointed villas that speak volumes of 5 star luxury and comfort. Plush interior of the entire Hotel are tastefully decorated using eco-friendly material and contemporary designs, aimed at providing a cozy and elegant atmosphere.

Green Paradise Resort also boasts of an enormous swimming pool with spectacular ambient surroundings, designed to soothe and relax the weary guest. The adjoining shallow water swimming pool provides young children and their parents a safe and enjoyable environment. The Hotel owns a spacious gym with modern fitness equipment intended to cater to various fitness regimes. In addition, the hotel’s exclusive Thai Spa offers guests optimal relaxation and rejuvenation in a soothing and serene atmosphere. Tantalizing the taste buds of both foreign and local guests, the Hotel’s signature restaurants - Orchid and Salt & Pepper - Pizzeria Al Forno and the Blue Elephant Bar offer delectable organic cuisine and refreshing beverages prepared by the Hotel’s own Chefs and Barmen.

Players of Sri Lanka and New Zealand Teams receiving a warm, traditional welcome at the Green Paradise Resort

(Left) Dinesh Chandimal lighting the traditional oil lamp. (Right) Susantha Bandara, Resident Manager of Green Paradise Resort speaking to Mahela Jayawardena and Lasith Malinga.

Green Paradise Resort and its services

Dickwella Resort & Spa Heralds in the Festive Season

Dickwella Resort & Spa located in stunning South of Sri Lanka, welcomed the festive season during their traditional Christmas cake mixing ceremony held at the hotel premises on 12th October 2013.

Mr. Mirza Borham, Manager and Mr. Priya Abeyesinghe, Executive Chef together with other officials of the Hotel as well as Guests, took part in this much anticipated ceremony which takes place annually.

All ingredients of the cake were beautifully arranged to depict the hotel’s classic logo, the entwining palm trees signifying the allure of island life.

In view of the fast approaching festive season, Dickwella Resort & Spa Team has a multitude of events planned to keep its guests enthralled and basking in the comfort of holiday in the tropics.

Commenting, Manager, Mr. Mirza Borham said, “We are fast approaching that time of the year where festivities are aplenty, as we prepare to say adieu to a yet another momentous year. We are well prepared to give our patrons the true hospitality they deserve, as we look forward to much awaited Christmas and New Year celebrations.”

Dickwella Resort & Spa is a renowned hotel brand operating under LOLC Leisure Ltd - the leisure arm of the LOLC Group. The hotel is renowned for its beautiful vistas having strategically situated on one of the most captivating beach properties in Sri Lanka. It has 56 rooms, 8 suites and 12 family suites and provides all amenities of a star class beach resort. The hotels’ architecture and interior décor speaks of old world Sri Lankan as well as Italian charm. Hotel’s own traditional stone-oven pizzeria, main restaurant and bars offer a variety of food and drinks to keep visitors enraptured in eclectic flavours.

Mirza Borham – Manager Dickwella Resort & Spa, Priya Abeyesinghe – Executive Chef, officials and guests participating at their annual Christmas cake mixing ceremony.

Committed to Service Excellence - Eden Resort & Spa shines at CNCI Achiever Awards 2013

Eden Resort & Spa, the 5 star luxury resort in Beruwala Sri Lanka, proved its excellence in service standards yet again by bagging 2 prestigious accolades at the Ceylon National Chamber of Industries (CNCI) Achiever Awards 2013. Eden won the Bronze Award for Provincial Level (Service Sector) Extra Large category and the Merit Award for National Level (Service Sector) under the Extra Large category. The ceremony was graced by Prof. G. L. Peiris, Minister of External Affairs, as Chief Guest.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa accepted the awards from Mr. Lakshman Hulugalle, Director General, Media Centre for National Security (MCNS) and Deputy Chairman/Director, National Livestock Development Board (NLDB).

Held for the 12th consecutive year, the CNCI awards recognizes and rewards the operational excellence of Sri Lanka’s Industry, Manufacturing and Service sectors, with the aim of encouraging local enterprises to achieve greater heights in par with internationally recognized standards. This coveted award has been notably hailed as the benchmark of industrial excellence in Sri Lanka.

Commenting, Eden Resort & Spa GM, Mr. Wijeratne said; “FY 2012/13 has been a remarkable year for us and these awards are a true testament to the service excellence established and maintained by the Eden Team throughout the years. I am indeed proud that we have yet again cemented our hotel’s brand as one that is truly focused on providing a high standard of service and comfort to our patrons.”

The resort, which comes under the umbrella of LOLC Leisure Ltd, recently underwent an extensive refurbishment phase during the months of May-July, bringing distinctive value additions and new dimensions to its existing portfolio of services.

The resort’s Main Restaurant, Swimming Pool, Pool Bar, Back of House operations underwent revamp including 109 rooms which were upgraded to the Superior category. These rooms completed with ambient interior décor are inclusive of new furnishing, 46” LED flat screen TV, Blue-Ray player, Wi-Fi, in-room dining options with menu and mini bar facilities, en-suite bathrooms with contemporary designs and fittings, and a host of other amenities and services. The signature roof top Cocktail Bar aptly named the “7th Heaven”, is a new addition to the resort’s array of services and is scheduled to be opened soon.

“Our technically-trained and highly qualified teams of service professionals together with perhaps, the best culinary team in the Beruwala region are eager to share their expertise with travellers as well as business communities in the coming months” Mr. Eksath Wijeratne concluded.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa accepting the Bronze Award for Provincial Level (Service Sector) Extra Large category from Mr. Lakshman Hulugalle, Director General, Media Centre for National Security (MCNS) and Deputy Chairman/Director, National Livestock Development Board (NLDB), and Mr. Preethi Jayawardena, Chairman of the Ceylon National Chamber of Industries.

New President for Ceylon Hotel School Graduate Association

Mr. Eksath Wijeratne (FCHSGA), General Manager of Eden Resort & Spa of LOLC Leisure Ltd fame, was appointed as the President of Ceylon Hotel School Graduate Association (CHSGA) at its annual AGM held at the Cinnamon Bey, Beruwela recently. He has over 21 years of illustrious experience in Sri Lanka’s tourism and leisure sector and he has previously served as Vice president of CHSGA for 3 years. He was preceded by the outgoing President for year 2012, Mr. B. H. R. Sariffodeen (FCHSGA), Asst. Vice President (Operations) Aitken Spence Hotel Management.

An official ceremony alongside the AGM was held at which Mr. Mahinda Rathnayake, a founder member and past President of CHSGA presided as Chief Guest, whilst Mr. Jayanthissa Kehelpannala, President of Tourist Hotel Association of Sri Lanka participated as Guest of Honor.

Incorporated by the Parliament Act No. 21 of 1984, CHSGA’s objective is to serve the hotel industry by way of rendering assistance to Sri Lanka Institute of Tourism & Hotel Management. The association also acts as the driving force that facilitates inter-linkages between the Ceylon Hotel School and the leisure industry. This year’s AGM was the 42nd session held since the Association’s formation in 1972.

The main functions of CHSGA is focused at increasing a sense of fellowship among graduates of the Ceylon Hotel School, rendering assistance for the benefit of Sri Lanka Institute of Tourism & Hotel Management, assisting in the development of the tourism sector and rendering assistance to the welfare of Ceylon Hotel School of Graduates.

From left; Mr. Priyal Perera - General Secretary; Mr. Sanjeeva Perera - Vice President ; Mr. Eksath Wijeratne – President, CHSGA; Mr. Niroshan De Silva – Vice President ; Mr. Dhaithya Krawage – Treasurer.

Mr. Eksath Wijeratne, President of Ceylon Hotel School Graduate Association addressing the gathering.

Highlights from the CHSGA 42nd AGM 2013/14

Cricket Craze at Dickwella Resort & Spa!

Bangladesh Tour of Sri Lanka – March 2013

LOLC Leisure Group’s Dickwella Resort & Spa gave a warm welcome to the members and officials of the Bangladesh National Squad and Sri Lanka Development Emerging Team, who participated the 3 day cricket encounter held at the Uyanwatta Stadium in Matara, during 2013 Bangladesh Tour of Sri Lanka. The team members stayed at the hotel from 1st to the 5th March.

Manager of Dickwella Resort & Spa, Mr. Mirza Borham together with the hotel staff members and guests gave a warm, traditional Sri Lankan welcome to both teams and hosted them for a relaxing evening of cocktails and dinner at the hotel’s beach. “We were extremely delighted and privileged to extend our hospitality services to the members of the two teams and to their officials. We made all necessary arrangements to ensure that their stay with us was a comfortable and memorable one.” Mr. Borham said.

The young cricketers of the Sri Lanka Development Emerging Team were accompanied by their Coach and veteran cricketer, Romesh Kaluwitharana and Bowling Coach Anusha Samaranayake, whilst the visiting Bangladesh National Squad was accompanied by Manager, Mr. Tanjeeb Ahsan.

Sharing his views about their stay in the hotel’s guest commentary book, Romesh Kaluwitharana wrote, “We had a lovely time at the Dickwella Resort & Spa. The staff is very helpful and friendly. I thank the management for making our stay a comfortable one”.

Also commenting, the Bangladesh National Squad Manager, Mr. Tanjeeb Ahsan wrote, “Excellent food and service. All the members of Bangladesh team also enjoyed the beauty of the location. Thank you for entertaining us.”

Dickwella Resort & Spa is a tranquil little paradise nestled on a peninsula in Deep South of Sri Lanka. Surrounded by the ocean on three sides, the hotel has one of the most stunning beach vistas in the country, providing its rooms a breath-taking view of the clear, blue ocean. Guests are also treated to a rare glimpse of the sunset and sunrise in one sitting – a natural phenomenon brought on by the hotel’s centralized position in between the eastern and western shores.

Among the amenities provided by the hotel are its very own wood fired pizzeria, elegant beach side restaurant, rejuvenating spa facilities, swimming pool and Jacuzzi with ambient surrounding, magnificent snorkeling and diving spots with the help of PADI diving instructors and recreational tours to cultural and religious hot spots in the vicinity.

65th Independence Day Celebrations at Eden Resort & Spa

Eden Resort & Spa, together with in-house guests and staff members, held a special program at the hotel premises to mark the 65th Independence Day of Sri Lanka. Prior to commencing celebrations, hotel guests were taken on a colourful parade to the venue of the function - the Garden by the Pool, and at the end of the ceremony, all participants were invited to a special treat consisting of traditional Sri Lankan sweets with tea and coffee.

Traveler’s Choice 2013: Eden Resort & Spa among the top Sri Lankan elite hotels

TripAdvisor has announced the world’s best hotels for the year 2013 and has placed LOLC Leisure’s Eden Resort & Spa as one of the top hotels in Sri Lanka. This is the first time that Eden has been given this prestigious status by the world’s largest travel site.

On an official posting on their website www.tripadvisor.com, Travelers’ Choice 2013 has provided a comprehensive list of top 25 world winners as well as winners from each travel destination around the world. This elite listing is ranked by millions of travelers worldwide. Sri Lanka’s own top 25 includes some of the heavy weight brands of the Sri Lankan travel and leisure industry, and provides a glimpse at comments shared by travelers.

Guests of luxury 5 star Eden Resort & Spa have posted many upstanding reviews about the hotel’s services, location, staff and cuisine among many others. According to the feedback posted on the site, a traveler from Australia has ranked the hotel’s hospitality service as “above par-excellence”, while another has reviewed the service of the staff as “helpful and attentive” and “very high standard”. A guest from the United Kingdom has praised the delectable cuisine prepared by Eden’s chefs as “absolutely superb, especially on Christmas Eve and Day. The choice was enormous, every seafood imaginable.”

Commenting on Eden’s top ranking at Travelers’ Choice, General Manager, Mr. Eksath Wijerathne, said; “This is yet another first for Eden and a moment of great honour for us. I and my wonderful staff at Eden would like to say a big ‘thank you’ to all our patrons for their reviews and feedback and to TripAdvisor for providing the opportunity for travelers and leisure establishments to come together on a common forum. In future, I hope to see many more Sri Lankan hotels make it to the top of the list.”

With over 17 years of rich history behind its brand, Eden Resort & Spa was the first 5 star hotel in Sri Lanka to offer spa facilities. Growing from strength to strength since then, Eden today is a favourite leisure destination and a well-known hospitality brand among travelers visiting the golden mile of Southern Sri Lanka. An ISO 9001:2008 and HACCP certified hotel, Eden has won many notable local and international accolades, including 2012 Certificate for Excellence from TripAdvisor.

Eden Resort & Spa celebrates yet another victory at the National Business Excellence Awards

Eden Resort & Spa, the 5 star resort located in the golden mile of Beruwala and member hotel of LOLC Leisure Ltd, was once again feted for its excellence in the hospitality and leisure sector, when it emerged Runners-up (Large Category) at the National Business Excellence Awards 2012. The awards ceremony which took place on the 4th of December at the Colombo Hilton saw many prestigious business entities celebrate their wins for the night.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa accepted the award from Mr. Sunil G. Wijesinhe, Senior Deputy President of The National Chamber of Commerce of Sri Lanka and Mr. Christopher Joshua, Executive Director of Access Engineering PLC. This is the 5th consecutive year that this luxury resort has been feted for its excellence in service and operations at the NBEA Awards.

Speaking about the win, the proud GM, Mr. Wijeratne said, “Winning this award is a humbling victory for us and adds another milestone to our great year of achievements. We have taken our hotel’s brand to soaring heights both internationally and at home, by winning many prestigious awards and accolades earlier this year. We hope to continue this winning streak into yet another exciting year of hospitality service in the year 2013. ” he concluded.

Some of the notable achievements of Eden Resort & Spa for this year includes; winning the Gold and Silver medals for pastillage and vegetable carving categories at the World Culinary Olympics in Germany, becoming the only leisure brand to receive a National Level Merit Award for service and operational excellence at the CNCI Achievement Awards in Sri Lanka, retaining the ISO 9001:2008 + HACCP certification for quality and standards of service for an additional period of 3 years, receiving Crescentrating 4 certification for Halal friendly hotels and receiving the Certificate of Excellence from the world’s largest travel website, Trip Advisor.com.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa accepting the award from Mr. Sunil G. Wijesinhe, Senior Deputy President of The National Chamber of Commerce of Sri Lanka whilst Mr. Christopher Joshua, Executive Director of Access Engineering PLC look on.

Excel World hosts Snow World 2014 for 12th year running

Excel World will once again host the popular Snow World 2014 commencing on Friday, 5th December running upto the 4th of January 2015. Snow World will be open from 6pm – 10pm daily.

On its 12th year, Snow World, like every year comes complete with a host of exciting prizes and surprises for children and adults as well.

A much-looked forward to event, Snow World 2014 is a huge family favourite. Entertainment, live music, competitions will all take place during this period, while Excel World’s Snow Dome will take on a wintery ambience, complete with lighting and décor befitting the festive season.

Over 275,000 attended Snow World last year. This year, the ticket prices continue to be nominal, with children’s tickets priced at Rs.350/- and adults’ tickets at Rs. 450/-. Excel World also has on offer affordable group packages.

Apart from the Snow Dome, Excel World has a Food Court comprising of 06 outlets serving a range of cuisines. It also has a kids’ amusement rides area as well as the country’s largest inflatable bouncer – the Naughty Castle. Excel World is also home to a 12-lane bowling alley – Strikes, Sri Lanka’s largest token gaming centre – Game Zone, a multi-player gaming area – Ground Zero, pool parlour – Shotz and Excel Cinema.

The Keg is Excel World’s restaurant/pub, while Park Premier has newly upgraded Banquet and Conference facilities, providing the ideal venue for corporate events.

Excel World is owned by Browns Investments, which is a subsidiary of Brown & Company PLC. Its ultimate parent company is Lanka ORIX Leasing Company (LOLC).

The Eden Resort & Spa unveils new logo

Eden Resort & Spa unveiled its new logo today, also revealing an adjustment to its name, now making it ‘The Eden Resort & Spa’.

All properties under the Browns Hotels and Resorts chain will now have a common denominator, ‘THE’, which will be added to their titles.

The five-star luxury hotel, part of the Browns Hotels & Resorts chain is located along the golden mile in Beruwela. Newly refurbished, the 158-room hotel’s structural footprint is unique and takes on the shape of a horseshoe.

Apart from plush, well-furnished rooms, The Eden also offers a variety of dining options and bars, adding to its wide array of services.

Green Paradise changes name; reveals new logo

Green Paradise announced a name change to ‘The Paradise Resort & Spa’ and introduced a fresh logo as well.

All properties under the Browns Hotels and Resorts chain will now have a common denominator, ‘THE’, which will be added to their titles.

The four-star luxury hotel, part of the Browns Hotels & Resorts chain is located amidst the lush jungles of Dambulla. It has 67 luxury eco-villas comprising 40 Superior Duplex, 10 Garden suites, and 17 Deluxe rooms. Two restaurants, two bars and a pizzeria make-up the wine-and-dine facilities at this four-star resort, which also comes complete with a range of the most modern facilities.

Browns Hotels & Resorts ties up with Starwood Hotels & Resorts

Browns Hotels and Resorts recently signed Definitive Agreements with Starwood Hotels & Resorts. The agreement will give Starwood the management rights to five-star Sheraton Kosgoda Turtle Beach Resort, owned by Browns Hotels and Resorts.

Present at the signing were Ishara Nanayakkara, Executive Chairman, Brown & Company PLC; Kamantha Amarasekera, Director, Browns Investments PLC and Dilip Puri, Managing Director - India and Regional Vice President - South Asia, Starwood Hotels and Resorts.
Set to open next year, the 172 room hotel is set along picturesque Kosgoda, located on the Southern Coast of Sri Lanka.

“We believe Sri Lanka has the potential to become a preferred tourist destination for the high-end leisure traveler and are very excited to partner with Browns Hotels and Resorts to grow the Sheraton brand in this exotic location,” said Dilip Puri, Managing Director - India and Regional Vice President - South Asia, Starwood Hotels and Resorts.

“We are more than pleased to be working with Starwood Hotels and Resorts on this property. Sheraton Kosgoda Turtle Beach Resort will add to Browns Hotels and Resorts’ already growing portfolio of luxurious properties in Sri Lanka. Our presence in the leisure sector is steadily growing and will soon lead us to be one of the largest hotel operators in Sri Lanka,” commented Rimoe Saldin, Managing Director/ Chief Executive Officer, Browns Investments PLC.

The designing of the hotel has been handled by a reputed architectural firm in Thailand and construction by Sierra Construction Limited; it follows an eco-friendly concept modeled against energy saving and organic initiatives.

Adjacent to a turtle hatchery, the resort will feature all its rooms with a beautiful view of the ocean, and will be equipped with the latest features.

Browns Hotels and Resorts is owned by Browns Investments, which is a subsidiary of Brown & Company PLC. Its ultimate parent company is Lanka ORIX Leasing Company (LOLC). Browns Hotels and Resorts’ properties currently in operation include: Eden Resort & Spa, Dickwella Resort & Spa and Green Paradise. Green Paradise is located amongst the lush jungles of Dambulla while Eden and Dickwella are stretched along the Southern coastline. The Company also has exciting new plans on the horizon, with new properties planned for in Beruwela, Pasikuda and the Maldives.

Ishara Nanayakkara, Executive Chairman, Brown & Company PLC [right] exchanging the agreement with Dilip Puri, Managing Director - India and Regional Vice President - South Asia, Starwood Hotels and Resorts [left]

L-R: Nikhil Manchharam, Vice President – Acquisitions & Development, Starwood Hotels and Resorts; Dilip Puri, Managing Director - India and Regional Vice President - South Asia, Starwood Hotels and Resorts; Ishara Nanayakkara, Executive Chairman, Brown & Company PLC; Kamantha Amarasekera, Director, Browns Investments PLC

Browns Leisure Sector now at FLC Tower

A state-of-the-art multi-storied office complex in Borella, constructed by FLC Holdings was opened recently. The commercial building comprises of 13 floors and is located in the heart of Colombo along Dudley Senanayake Mawatha, Colombo 08.

The event to mark the relocation of the Browns Leisure Sector was attended by the following dignitaries: Mrs. R. Nanayakkara, Chairperson, LOLC Group, Mrs. Kalsha Amarasinghe, Director, Browns Group, Mr. Kapila Jayawardena, Group Managing Director/CEO, LOLC Group, Mr. Rimoe Saldin, Group Chief Operating Officer, MD / Chief Executive Officer, Browns Investments PLC as well as a number of top officials from the Browns Group.

The Browns Leisure Sector, comprising of Browns Tours, BG Air Services, Browns Hotels & Resorts and Ceylon Roots have been relocated here.

Mrs. R. Nanayakkara, Chairperson, LOLC Group ceremoniously declaring the office open

Mrs. Kalsha Amarasinghe, Director, Browns Group lighting the traditional oil lamp

Mr. Kapila Jayawardena, Group Managing Director/CEO, LOLC Group lighting the traditional oil lamp

Sri Lanka and West Indies cricket teams pick Dickwella Resort & Spa

Dickwella Resort & Spa, Browns Hotels & Resorts’ unique property positioned on a peninsula along the southern coast of Sri Lanka, played host to the Sri Lanka and West Indies A cricket teams recently. Cricketing legend, Sir Viv Richards was also present.

Participating in the West Indies A tour of Sri Lanka 2014/15, both teams, accompanied by their coaches, managers and officials stayed at Dickwella Resort & Spa during the 1st and 2nd unofficial Tests played at Hambantota and Matara respectively.

Sri Lanka cricket team is pictured here with the Dickwella Resort & Spa team

Upul Tharanga lighting the traditional oil lamp at Dickwella Resort & Spa.

West Indies cricketing legend, Sir Vivian Richards lighting the traditional oil lamp at Dickwella Resort & Spa

West Indies cricket team is pictured here with the Dickwella Resort & Spa team.

Eden Resort & Spa kicks off upcoming festive season

Eden Resort & Spa kicked off the upcoming festive season with the all-important, traditional Christmas cake mixing ceremony. This annual ritual was held in the presence of distinguished repeat in-house guests of Eden along with the hotel’s staff members

Eden’s most long-standing repeat visitor, Kurt Zehnder from Switzerland, who marks his 92nd visit to Browns Hotels & Resorts venues did the honours. Eksath Wijeratne, General Manager, Eden Resort & Spa; Deepal de Alwis, Executive Chef, Eden Resort & Spa and members of the hotel’s staff and culinary team also partook in this celebration.

LOLC Leisure re-branded as Browns Hotels and Resorts

Browns Investments PLC (BI) today, announced the re-branding of LOLC Leisure to Browns Hotels and Resorts.

In March this year, Browns Investments acquired sole shareholder status of LOLC Leisure. BI previously held a minority interest of 30% in LOLC Leisure; the investment into the hotel sector was made jointly along with BI’s parent company, LOLC. As part of its consolidation efforts, LOLC divested its direct exposure in leisure to BI, giving the Company the opportunity to focus on nurturing and growing this sector. LOLC continues to be the holding company for the Browns group.

Hotels under the Group include: Eden Resort & Spa, Dickwella Resort & Spa and Green Paradise, Dambulla. The Company also announced the construction of a 71-room four star hotel in Passikudah, which is scheduled to be opened later this year.

The Company’s current portfolio holds 308 keys, with plans to increase it to around one thousand within the next few years.

“Browns Investments has expanded its footprint in the leisure sector and made a number of significant acquisitions. This increased interest will lead us to soon be one of the largest hotel operators in Sri Lanka. This is extremely timely, considering the country’s increased focus on tourism.” stated Rimoe Saldin, Managing Director/ Chief Executive Officer, Browns Investments PLC.

A 363-roomed, 25 acre property located along the golden mile of Beruwala, currently under construction and scheduled to be completed in 2016, will be included in the portfolio of hotels; as will be a 172-roomed five-star property, already under construction in Kosgoda which will be completed during the first half of 2015. The Company also owns properties in Nilwella and Trincomalee, and is looking at options for a new city hotel.

Adrian Jansz, Head of Sales & Marketing, Browns Hotels and Resorts also added, “This is an exciting year for us, with our current properties being upgraded to suit the demands of the modern tourist. Our current portfolio includes a number of landmark properties, with the promise of more exquisite properties earmarked. The changes taking effect have made us step back and re-evaluate our offerings, and has led us to draw parallels between the emotional connect of our customers and their satisfaction. This is the promise of Browns Hotels and Resorts.”

Browns Investments PLC is a subsidiary of the legendary 135+ year old Brown & Company PLC, with its ultimate parent company being LOLC. Browns Investments operates in fast-growing sectors of the economy such as leisure, agriculture and plantations, construction, marine and manufacturing and power generation

Eden Resort and Spa is a five star resort on the golden beaches of the Southern Coastline in Beruwela. The resort offers its guests 158 recently renovated luxury rooms and suites, an Ayurveda spa, signature restaurants, cafes and bars to indulge themselves in.

Nestled away within the jungles of the Cultural Triangle adjacent to world heritage sites, Green Paradise offers luxury to all its guests whether it’s by dining above the trees, relaxing by the padded pool or in the comfort of your Italian crafted villa.

Dickwella Resort and Spa is located on a peninsula on the golden sands of the Southern Coastline in Dickwella, and offers its guests a very relaxing experience where simple pleasures like breathtaking views of the Indian Ocean and tucking into the catch of the day can be enjoyed by everyone.

Eden Resort & Spa lays foundation stone for new school building at Moragalla Junior School

Eden Resort & Spa of LOLC Leisure Ltd laid the foundation stone for a new building at the Moragalla Junior School in Beruwala. Upon completion, the new school building will comprise of 08 additional classrooms, which would be constructed at a total investment of approx Rs. 16 Mn.

This project is part of Eden’s CSR initiative to uplift and develop the Beruwala community at large, by focusing on fulfilling its immediate requirements in areas such as education, youth employment, health, community wellbeing and other.

The construction project of the two-storey new school building is expected to be completed in two stages. The 1st phase would be completed with the initial financial assistance provided by Miss Chris McGrail, a frequent visitor to the Eden hotel hailing from West Midlands, UK. She is affiliated to the Redhill School of England as the Deputy Head Teacher, and funding for the new building in Moragalla Junior School has been raised through various fund raising activities conducted by the students of Redhill, UK. The 2nd phase of the project would be completed with fund raising activities which Eden Resort & Spa is aiming to initiate in the coming months.

A formal ceremony was organized by the Hotel to lay the foundation stone to this new school building. The auspicious activities were presided over by General Manager, Mr. Eksath Wijeratne together with Religious Leaders; Key officials from the Kalutara Zonal Education Office, Beruwala Divisional Secretariat and Sanasa Development Bank; Principal of Moragalla Junior School together with teachers and students; Hoteliers from Bentota-Beruwela area; Community Members; Management and Staff members of Eden Resort & Spa.

Commenting, Mr. Eksath Wijeratne said, “It is with deep gratitude that I commend the generosity of our honoured guest, Miss Chris McGrail and the students and staff of the Redhill School. Ms. McGrail expressed her keen interest to partner Eden’s CSR initiatives, and together we identified that the Moragalla Junior School was immediately in need of financial assistance. With her school’s contribution, we will complete the first phase of the project and look at other possibilities of partnering with well-wishers, aiming at an early completion of the new school building.”

Moragalla Junior School at present provides education to 210 students, with 20 teachers and staff members on its cadre. In previous years too, Eden Resort & Spa has provided financial assistance and held educational programs aimed at providing greater educational facilities and development opportunities for the children of this school.

In the picture : Mr. Eksath Wijeratne, General Manager - Eden Resort & Spa ; Mrs. C. D. Kumarasiri, Principal - Moragalla Junior School ; Ms. Inosha Anuradhi Edirisinghe, Secretary – School Development Society ; Ms. Inoka de Silva, Development Director - Kalutara Zonal Education Office ; Ven. Moragalle Chandawimala Thero from Purana Sri Gangaramaya Temple of Moragalla ; Mr. Upali Jayaratne, Director - Sanasa Development Bank; Ms. Mary Nolan – visiting English Development Teacher from UK; students; well-wishers and officials participating in auspicious activities.

Eden Resort & Spa Celebrates New Year with 41 Nationalities

With the dawn of peace in the country and spread of good news across the globe that Sri Lanka is a safe haven to all including tourists visiting this beautiful island, Eden Resort & Spa of LOLC Leisure Ltd - the newly renovated 5-star resort on the Golden Mile of Beruwela - was privileged with the opportunity and honour of accommodating guests from 41 nations worldwide.

These guests belonging to vibrant and diverse nationalities and ethnic backgrounds visited the hotel during the festive period and are scheduled to stay over until the end of the peak season.

They were hosted to a special New Year celebration on the topmost deck of the hotel - the “7th Heaven” - where they were served with Tea and Cakes during morning hours of 1st January 2014. The occasion was also graced by the Management Team and Executives of Eden – where both parties exchanged pleasantries.

Mr. Eksath Wijeratne, General Manager of Eden Resort & Spa and staff members together with the guests.

Calm Resort & Spa starts commercial operation

The Calm Resort and Spa is a 4-star, a 72-room property located on mesmerizing blue waters of Passikduah beach, the newest addition to the portfolio. The hotel was introduced to the market with a soft opening in April 2015, with commercial operations commencing in July 2015. Encouragingly, despite being only the first season of operation, the hotel generated positive feedback from the market, indicating good prospects for the future.

Saga Solar power (PVT ) LTD starts power generation

The Government has a vision of increasing the share of electricity generation from renewable energy sources from 50% in 2014 to 60% by 2020, to reduce the carbon footprint of the energy sector by 5% by 2025, and finally, to meet total demand from renewable and other indigenous energy resources by 2030. Currently, the demand for electricity is catered through hydro power (38%), coal (34%), fuel oil (17%) and non-conventional renewable energy (11%). Hence, the Government requires the mix to be changed and to adopt a more sustainable approach. With this context in mind, the Browns Group entered into solar power generation. Saga Solar (Pvt) Ltd, the first privately owned solar plant in Sri Lanka with a capacity of 10 MW was opened during the year under review

With this context in mind, the Browns Group entered into solar power generation. Sagasolar, the first privately owned solar plant in Sri Lanka with a capacity of 10 MW was opened during the year under review. With Sagasolar, the Browns Group has entered into non-conventional renewable energy which is part of the key driver in the Sri Lanka’s sustainability goals. The utility-scale power project located in Buruthankanda in Hambantota is expected to add 19 Giga Watt hours of clean energy to the national grid annually for 20 years. At full capacity the plant could contribute 19,000 Mega Watt hours to the national grid plus generate enough electricity for roughly 10,000 homes.

Browns Investment in overseas

Bodufaru Beach Resorts Pvt Ltd is a company which is incorporated with the strategic view of managing three investment which will operates luxury resorts in the Republic of Maldives. Plot of Lagoons, located in North Kaafu atoll which is the proposed investment of Bodufaru Beach Resorts Pvt Ltd with three sub investments which will start their commercial operations in 2019 calendar year. This proposed strategic investment includes 5-star resort with 120 guest rooms, a 4-star resort with 150 guest rooms and another 4-star resort with 200 guest rooms by making the Bodufaru Beach Resorts Pvt Ltd, a prominent and renowned holiday destination in the world.