March 9, 2022
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2min

 



 

 

 

Singer reaffirms its commitment towards responsible corporate reporting by winning the first place under “Service Category”, at the 25th Best Presented Annual Reports of the South Asian Federation of Accountants (SAFA) which was hosted by the Institute of Chartered Accountants of Sri Lanka.

The competition received applications from companies across Bangladesh, India, Nepal, Pakistan and Sri Lanka under 13 sectors where each award was conferred after stringent evaluation by the SAFA Committee for Improvement in Transparency, Accountability and Governance.

Mahesh Wijewardene, Group Chief Executive Officer commented on this achievement, “This award is a testament to the fact that Singer has always strived to lead with respect, demonstrate responsibility, reliability and integrity. We are indebted to the trust our customers have continued to place in us, despite the challenging times the pandemic brought about. I am delighted that we were able to achieve this accolade.”

Singer (Sri Lanka) PLC has a legacy that spans over 145 years and stands tall today as one of Sri Lanka’s most diversified companies.

Throughout the pandemic and in the era of the ‘new normal’, Singer managed to persevere and by meeting all customer requirements with their mammoth portfolio of products and services. During this period, Singer also underwent a largescale transformation, into a future proof entity. The company introduced an all-new store concept and leveraged e-commerce platforms to not only strengthen existing customer relationships but to also build new ones.

 



 

 

 


September 15, 2017
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4min

Colombo, September 15, 2017: Hayleys PLC and its subsidiaries are pleased to announce the purchase of 61.73% of shares of Singer (Sri Lanka) PLC, for a consideration of LKR 10.9 billion, making it the single largest acquisition for a listed company in Sri Lanka in recent times.

This strategic acquisition by Hayleys PLC and its subsidiaries is anticipated to yield substantial opportunities for new business synergies within the Hayleys Group. Both Hayleys PLC and Singer (Sri Lanka ) PLC collectively account for over 280 years of experience in the Sri Lankan market.

Commenting on the transaction Mr. Mohan Pandithage, Chairman and Chief Executive, Hayleys PLC stated, “This is a historic milestone for the Hayleys Group. It is in alignment with our Group’s growth-oriented approach to the Sri Lankan market, as we have been seeking a strategic partner to strengthen the Group’s retail sector. Leveraging on the diversity of the Hayleys’ products and services portfolio and combining it with the time-tested and extensive expertise of Singer Sri Lanka, we anticipate unprecedented new business opportunities for both entities moving forward.”

Elaborating further he added, “It is the vision of Hayleys to offer enhanced lifestyles to Sri Lankans, with extensive ranges of innovative, high quality lifestyle products which are affordable to all segments of society. The diversity of our products and services portfolio will now be driven to greater heights, opening doors to new business opportunities for both entities moving forward. We will leverage Singer Sri Lanka’s brand and extensive retail network, with its strong customer base to pave the way for significant upscaling of the Group’s domestic retail sector presence.

Mr. Dhammika Perera, Co-Chairman, Hayleys PLC, stated, “This acquisition is no doubt the biggest in Sri Lanka. Given the strength of Singer Sri Lanka, one of the most iconic and trusted retail brands in the country, we believe that with this move, the Hayleys Group will be able to leverage and amalgamate the expertise and know-how of two corporate giants and boost the Group’s growth trajectory.”

Hayleys, the largest Sri Lankan conglomerate nearing its 140th year, has a global presence in 15 countries across all 5 continents. It is the most diversified conglomerate in the country. This acquisition creates a total of 16 Public Listed Companies under the Hayleys Group umbrella.

Established in 1878, Hayleys PLC is one of Sri Lanka’s largest, multinational business conglomerates driving a globally competitive business portfolio cutting across manufacturing, agriculture and services. The Group is internationally recognized as a leader in innovation and currently operates manufacturing and service facilities in Sri Lanka, Indonesia, Myanmar, Maldives, Thailand, Bangladesh and Singapore. Its Marketing facilities are located in Australia, India, Malaysia, Italy, Japan, The Netherlands, UK and USA. The Group accounts for approximately 3.53% of Sri Lanka’s export income, and 3.4% of tea and 3.8% of rubber production. It is one of the leading foreign exchange earners of the country, and sources 95% of its raw material manufacturing requirement locally, while providing employment to over 28,000 employees.

The Board of Directors of Hayleys PLC comprises Messrs Mohan Pandithage (Chairman and Chief Executive), Dhammika Perera (Co-Chairman), Rizvi Zaheed, Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral PC, Dr. Mahesha Ranasoma, Lalin Samarawickrama, Ruwan Waidyaratne, Hisham Jamaldeen , Aravinda Perera and Noel Joseph.



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