The Birth of the Harry Jayawardena Empire (1977)

When I heard of the death of Harry Jayawardena, I remember the reaction of my father when he heard of the death of H.V.Perera , a legend of the legal profession in post independence days. My father H.A.J Hulugalle spluttered “A mighty oak has fallen”. I felt very much the same when I heard of Harry’s death.

It feels almost ridiculous for an 87-year-old like myself to write an appreciation of Harry Jayawardena. He was such an overwhelming public figure. My main qualification for doing this is that I saw his ascent over 48 years.

Not many knew of him back then in 1977, though some may have recognized him as the dynamic Manager in the Consolexpos’ Tea Department.

Harry, like my brother Haris Hulugalle, was a strong supporter of Mrs. Bandaranaike’s policies and stood by her through thick and thin.

While working for Mrs. Bandaranaike, especially during the 1977 election, my brother Haris could see Harry’s exceptional abilities. But after Mrs. Bandaranaike’s party was routed by the UNP, Harry knew his days as the Manager at Consolexpo were numbered. Feeling disheartened and demoralized, he confided in Haris about his uncertain future.

Harry was brought into our office and reassured, “If you cannot return to Consolexpo, we will help you start your own tea business.” Harry’s concern was, “But where will we get the money, Sir?” he asked us. “We’ll find it. Just come to our office, and we’ll give you some chairs and tables, and you can start working right away if you have the business to back it.” Our office was at “Holywell”, 90, Galle Road Kollupitiya, a hundred year old dilapidated office built by the Steuarts. Today, Seylan Bank has replaced “Holywell” with a modern office Building.

Harry accepted the invitation and 13 members of his staff from Consolexpo were housed in a hall in relatively simple surroundings in our humble but vibrant office. This was 1977 and life was in any case much simpler.

Barely, 10 days before Harry passed away, he telephoned me and spoke about those days. He told me that he missed Haris very much. Did Harry have the premonition that his days were numbered and he was going to meet Haris elsewhere?

Harry throughout his business career claimed that it was Haris who had inspired him on his business trajectory. There is some element of truth in this. Haris was born on the March 3, 1930, birthday of C.H. de Soysa. Dr D.E. Wijewardene, brother of D.R.Wijewardene, a leading gynecologist while delivering the baby proclaimed “C.H. de Soysa is reborn”.

Harry and Haris had a common interest in business and that was to create businesses for the common betterment.

At that time Haris and I operated a successful printing and publishing establishment which enabled us to support Harry on his new venture. Haris had recognized Harry as a genius, way beyond his own capacity.

At that stage, there were three matters that had to be attended to at the Sri Lankan end. They were 1) formation of a company, 2) relationship with a Bank and 3) a license to trade in tea for export.

To form a company, we needed a name. We asked Harry “What are your names?”

“Harold” said Harry.

Harry Jayawardana (right) with Haris Hulugalle (left) at a wedding reception. The bridegroom is in the center

“That won’t do. Have you any other names?” said Haris.

“Yes, I am Don Harold Stassen” came the answer.

The quick reply was “Stassen it has to be”. So the name was accepted without any further discussion. The name of this future conglomerate was born.

The next move was to establish a relationship with the Bank. The relationship with the new government was hostile towards Harry. No State Bank would touch him.

Harry and V.P.Vittachi, who later was Chairman of Stassens went to the Commercial Bank. There they drew a blank. Co-laterals were asked for leading to a refusal of granting a facility.

I then went with Harry to the DGM Hatton National Bank, L.S.D.Peiris. Peiris listened to the young Harry, who Sir d him from beginning to the end of the conversation. Harry had Letters of Credit from first class Middle Eastern Banks. Another DGM, Gaston Goonewardene was brought into the discussion and the deal was sealed.

The facility given was Rs 250,000 Overdraft and Rs 1,000,000 packing credit. Ten years later Harry took control of the Bank as its Chairman.

I am not familiar with the story of the Tea License. That I understand would have been negotiated by V.P. Vittachi using his civil service connection to Ronnie de Mel, the Minister Of Finance.

Many others will have interesting narratives about the birth of Stassens. What I touch here is what I saw firsthand. Harry Jayawardena created an Empire which was in the league of C.H. de Soysa (who owned 80,000 acres of land) and other outstanding entrepreneurs in Sri Lanka.

I will deeply miss Harry, his sincerity and friendship. He was a devout Catholic, his faith served as the intellectual and spiritual foundation that fueled his dynamism. He cherished his family—his wife, Priya, and their three children.

Arjuna Hulugalle