Laugfs Chairman wins Asian Grid Leadership Award

The Awards Committee of the 9th Annual Convention on Leadership has conferred the Asian Grid Leadership Award for Excellence in Entrepreneurship to Laugfs Chairman W. K. H. Wegapitiya.

This award has been sponsored by Grid Consultants Pvt. Ltd., pioneers in leadership training in India.

Wegapitiya is the Chairman of Laugfs Holdings Ltd, having started his career as a "Shipping Trainee" at Ceylon Shipping Corporation.

His entrepreneurial startup began in 1990, with a capital of Rs. 5,000.

With the knowledge and experience gained, he incorporated Gas Auto Lanka (Pvt) Ltd., which was the pioneering effort in introducing LPG as an alternative fuel for motor vehicles in Sri Lanka.

The Laugfs Group of Companies have been making strategic management initiatives, having chosen a corporate strategy of extensive diversification, both in terms of concentric conglobed expansion.

Laugfs today is a household word with a portfolio of fifteen companies, engaged in a wide spectrum of manufacturing and marketing activities.

He subsequently incorporated Laugfs Gas (Pvt) Ltd as the Flagship company of the Laugfs Group which today is the second largest downstream LPG player in the country, having gained almost 30% market share within seven years.

Within a span of merely 12 years, he developed and led a vast business conglomerate having an average annual turnover over Rs. 7 billion, today.

Laugfs recently ventured out into attaining multi - national status, having successfully gained entry into Australia, pioneering as an Asian Company, fully geared to convert petroleum driven vehicle to LPG Gas.

The Australian government has granted considerable monetary incentives to LAUGFS in the venture.

Laugfs has also made arrangements to commence similar ventures in India, Pakistan, Middle East, Jamaica, Newzealand, Fiji Islands and Iran.