ECONOMYNEXT – Sri Lankan conglomerate Carson Cumberbatch PLC has said it is looking to expand in the south and south-east Asian region through strategic alliances and joint ventures.
The group’s vision of becoming a ‘regional holding company’ is outlined in its latest annual report.
“ . . . given the opportunities that exist within the rapidly developing economies in the region, we believe our horizons in all our core businesses should extend to South and South-East Asia,” the company told shareholders.
“As such, while Sri Lanka remains our priority, our strategic plans take into account the need to mobilize resources and develop core competencies that will make our businesses competitive in the region,” the report said.
“An expansion into the region will also benefit Sri Lanka. The future we envision will involve strategic alliances, joint ventures and other collaborative arrangements that will inject the necessary financial resources and the technical and management competencies required for our journey.”
The Carson group owns oil palm plantations in Indonesia, having sold estates in Malaysia, and has entered the downstream edible oils and fats business with the acquisition of a specialty oils and fats manufacturing operation in Malaysia and a palm oil refinery in India.
Other businesses are beer brewing and retailing, portfolio and asset management, real estate and hotels.
(COLOMBO, Sept 01, 2017)