Renuka Holdings in Forbes Asia’s ‘best list’

Renuka Holdings PLC was one of the two Sri Lankan companies selected by Forbes Asia for this great honour at an award ceremony at the Shangri-La Hotel in Singapore November 29. Forbes Asia’s “Best under a Billion” are Asia Pacific’s top midsized companies. According to Forbes, the criteria of selection included profitability, growth, modest indebtedness and future prospects.

Forbes editors picked 200 companies out of a universe of over 15,000 Asia Pacific companies with actively traded shares and sales between US $ five million and US $ one billion.

As per Renuka Holdings PLC’s Annual Report for 2011/2012 released to the Colombo Stock Exchange, it is a diversified holding company with subsidiaries engaged in three core sectors.

The Food and Beverage Sector is headed by Renuka Shaw Wallace PLC (formerly known as Coco Lanka PLC). Renuka Shaw Wallace’s businesses consist of fast moving consumer goods (FMCG), food service, dairy and agri-exports. These operate under Renuka Consumer Foods Ltd, Shaw Wallace Ceylon Ltd, Shaw Wallace Food Services Ltd, Renuka Products (Pvt) Ltd, Renuka Agri Foods PLC, Renuka Organics (Pvt) Ltd, Renuka Teas Ceylon (Pvt) Ltd and Kandy Plantations Ltd. Renuka Shaw Wallace operates five factories, nine processing centres, two plantations, an out-grower network exceeding 5000 farmer families and a state-of-the-art warehouse and logistics centre.

The Automotive sector is headed by McShaw Automotive Ltd, a joint venture between Renuka Holdings PLC and McLarens Holdings Ltd. This sector employees 95 individuals and represents two Fortune 500 companies.

The Investment and Services division is engaged in portfolio management, real estate, logistics and the provision of management services. The organisation has a valuable real estate bank in Colombo and intends to develop it with international partners.

Elaborating on the Forbes Award and the future direction, Director/ Chief Operating Officer Renuka Holdings PLC, Shamindra Rajiyah said, “We are most honoured by this international recognition this year as well. This recognition of Renuka Holdings PLC is a reflection on the hard work, commitment and dedication of all our stakeholders and our constant aim for perfection. Our recent re-alignment of companies and aggressive expansion in the food and beverage space will seize the opportunities the country offers and will see us entering the next phase of corporate growth.”