LMD unveils Lanka's version of the Fortune 500
Media Services, the publisher of pioneering business magazine LMD,
unveils the 'who's who' of corporate Sri Lanka, in its annual standalone
edition of The LMD 50, which hit bookstores and newsstands last Friday.
  Marking a first since The LMD 50 was launched 15 years ago, a foreign
corporation heads the premier rankings of listed companies in Sri Lanka.
Lanka Indian Oil Company, or Lanka IOC, tops the list which ranks the
nation's quoted companies primarily on the basis of turnover. Lanka IOC
is followed by Sri Lanka Telecom (SLT) in second place and John Keells
Holdings (JKH) at No. 3.
SLT and JKH have dominated the rankings over the years, with the
former being the first to the finish line in four straight years since
it was partially privatised in 2003/04 and the latter occupying pole
position in eight of the 10 preceding years, states The LMD 50.
The magazine, priced at Rs. 700 and containing 176 pages, notes: "The
rising tide of oil prices in the global marketplace in 2007/08 put Lanka
Indian Oil Company (Lanka IOC) in the driver's seat, with the former
state enterprise Sri Lanka Telecom (SLT) following it into second place.
John Keells Holdings (JKH) led the conglomerates' charge, as it has done
for most of THE LMD 50's 15-year life span. JKH, together with SLT, took
the honours in the preceding year. albeit in reverse order."
And whilst there was no change in fourth place, with Distilleries
Company of Sri Lanka (DCSL) staying where it was in 2006/07, Hayleys
surrendered its No. 5 spot to Commercial Bank - the former, in fact,
ends financial year 2007/08 ranked eighth.
"Also riding high in 2007/08 is Dialog Telekom - another corporate
from the 'Malaysia-owned' stable - which still is by far the most
profitable listed corporation in Sri Lanka," it adds.
An annual compilation along the lines of The Fortune 500, The LMD 50
is published by Media Services, which also produces LMD, Living and Most
Respected (another annual standalone issue), and presents Benchmark, the
weekly TV business programme.
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