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Melstacorp

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Melstacorp PLC
Company typePublic
CSEMELS.N0000
ISINLK0450N00003
Industry
FoundedFebruary 3, 1998; 26 years ago (1998-02-03)
Headquarters,
Sri Lanka
Key people
RevenueIncrease LKR182.990 billion (2022)
Increase LKR22.651 billion (2022)
Increase LKR17.635 billion (2022)
Total assetsIncrease LKR311.947 billion (2022)
Total equityIncrease LKR136.333 billion (2022)
Number of employees
Increase 22,765 (2022)
ParentMilford Exports (42.802%)
SubsidiariesSee text
Websitemelstacorp.com
Footnotes / references
[1]

Melstacorp PLC is a Sri Lankan diversified conglomerate. It is listed in the Colombo Stock Exchange. Melstacorp PLC is one of the 10 largest listed companies. It has a market capitalization of approximately USD 450 million. Deshamanya Harry Jayawardena is the Chairman of the company.

History

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Melstacorp PLC was originally formed as Beruwala Distillery (Private) Limited in 1995. Distilleries Company of Sri Lanka (DCSL) acquired the Company and renamed it Melstacorp Limited in order to subsequently make it the holding Company of the then DCSL group. All subsidiary companies of DCSL were transferred to the Company between 2010 and 2015. In 2016 through a 180-degree share swap, Melstacorp became the holding company of DCSL.[2]

After the share swap, Melstacorp was listed in the Colombo Stock Exchange on 30 December 2016.

Subsidiaries

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Melstacorp subsidiaries are involved in industries such as Distilling, bottling and distribution of liquor, Insurance, Health, Manufacturing, Logistics, ICT, Telecommunications, Energy, Tea and Rubber Plantations, Hospitality, Property Development, Brand Management, and in Advertising.

It is the holding company of Distilleries Company of Sri Lanka PLC.[3]

Subsidiary Holding Market value/Cost LKR (mns)
Quoted subsidiaries
Aitken Spence PLC 50.32% 15,058
Balangoda Plantations PLC 58.61% 241
Browns Beach Hotel PLC 41.88% 488
Distilleries Company of Sri Lanka PLC 92.44% 57,831
Madulsima Plantations PLC 55.91% 871
Unquoted subsidiaries
Bellvantage (Pvt) Limited 100% 75
Bogo Power (Pvt) Limited 99.30% 993
Continental Insurance Lanka Limited 100% 1,164
Melsta Health (Pvt) Ltd 1,896
Melsta Logistics (Pvt) Limited 571
Melsta Properties (Pvt) Limited 1,590
Melsta Technologies (Pvt) Limited 10
Melsta Tower (Pvt) Limited 658
Milford Holdings (Pvt) Limited 98.36% 3,350
Periceyl (Pvt) Limited 100% 7
Splendor Media (Pvt) Limited 51
Timpex (Pvt) Limited 51.03% 157

Source: Annual Report (2022, p. 152)[1]

References

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  1. ^ a b "Annual Report 2021/22" (PDF). cse.lk. Melstacorp PLC. Retrieved 22 February 2023.
  2. ^ "Transformation at Distilleries as Melstacorp takes over parent company | The Sunday Times Sri Lanka". www.sundaytimes.lk. Retrieved 2018-11-23.
  3. ^ "Why? Melstacorp By Harry J?". Daily Mirror Online. 4 April 2011. Retrieved 2011-04-04.