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Carson’s ensure no job losses or pay cuts despite crippling blows to business

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Carson Cumberbatch PLC, the 107-year old Colombo incorporated conglomerate had suffered a group loss of Rs. 2.65 billion in the year ended Mar. 31, 2020, down 349% from a profit of Rs. 1.07 billion a year earlier. according to the company’s just released annual report.

Despite possibly the worst challenges faced during its long history, Carson’s Chairman Tilak de Zoysa said he was proud to report that none of their group employees lost their jobs or had to take pay cuts on account of the Covid impact – something they considered a key corporate social responsibility.

Carson’s are among the world’s major players in palm oil with extensive plantations in Indonesia and Malaysia and substantial processing capability. The business had been impacted in the year under review by two consecutive years of low prices for crude palm oil (CPO), de Zoysa reported.

“(Prices) started recovering during the third quarter, and were yet again pushed down by the demand downturn following the spread of the pandemic,” he said. “In addition global crude petroleum prices were not incentivising vegetable oil during the year.”

These remained range-bound at the USD 50-60 level, subsequently crashing since Jan. 2020 despite the emergence of an industry benevolent bio-diesel programs in Indonesia. Also adverse weather hurt crops impacting the fresh fruit bunch production.

In addition to growing and processing palm oil, Carson’s are into the ancillary oils and fats industry, beverages (being the dominant stakeholder in the Lion Brewery), portfolio and asset management, controlling the wealthiest investment company quoted on the Colombo Stock Exchange, leisure (Pegasus Reef and Giritale Hotels) and real estate owning prime commercial properties in Colombo.

The chairman said their three main areas of activity were oil palm plantations, beverages and portfolio and asset management with a value of Rs. 7.2 billion.

Despite the negative results resulting from a variety of factors including the Easter bomb and the pandemic, de Zoysa said that as a “resilient conglomerate, the group remained focused and positive by looking ahead despite the immediate economic and operational strain created by the pandemic on markets and businesses.”

He vowed to move forward achieving a balance of utmost health and safety of their operations and the optimum level of business and customer satisfaction.

Carson’s has a strong balance sheet with total assets totaling Rs. 172.9 billion and total liabilities Rs. 117.7 billion. A revenue reserve of Rs. 23.1 billion is also carried in the books. An interim dividend of 75 cents per share was paid during the year under review, down from one rupee a share a year earlier.

Bukit Darah PLC, a member of the Carson’s group, is the single largest shareholder of the company where there is a total if 1,997 shareholders in the register including the EPF (2.85%) and several non-resident investment funds. The Selvanathan family, founders of the Sri Krishna Corporation, is the ultimate controlling shareholder.

The directors of the company are: Messrs. T. de Zoyza (chairman). H. Selvanathan (Deputy Chairman), M. Selvanathan, DCR Gunawardena, SK Shah, VP Malasekera, F. Mohideen, R. Theagarajah, Ravi Dias, AS Amaratunga and Ms. Sharada Selvanathan. Mr. K. Selvanathan is alternated for Mr. M. Selvanathan and Mr. S. Selvanathan for Mr. DCR Gunawardena.



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From Mt. Fuji to Sri Pada: Lessons from a father-son climb

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by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

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FLIR, Marlbo promote smarter industrial maintenance

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Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

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Lumbini Tea Valley wins intl award for Singharaja Wirytips

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Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

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