Distilleries Company of Sri Lanka PLC

sted companies in Sri Lanka.[3]


In 1995, the company entered into a joint venture with Pernod Ricard of France, one of the top 5 liquor producers in the world, to incorporate Periceyl Limited to produce whiskeys, brandies, and other international liquor in Sri Lanka for the Sri Lankan market. Also in 1995 the company acquired the century old Beruwala Distillery Limited. In 1996, the company signalled its intention of diversifying into non liquor sectors and acquired tea and rubber plantations by purchasing significant stakes in Madulsima Plantations PLC and Balangoda Plantations PLC under the government's privatization program. In 1999 the company acquired a significant stake in highly diversified Aitken Spence & Company Limited which has interests in power generation, shipping and hotels in Sri Lanka, India, Oman and the Maldives. In 2003 the company acquired a 90% stake in Sri Lanka Insurance Corporation Limited when the Sri Lankan government sold the state owned insurer.[4] Sri Lanka Insurance Corporation is a composite insurer with life and non life insurance portfolios and over US$ 500 million in assets and assets under management. In June 2009, the Supreme Court of Sri Lanka determined that the privatization of Sri Lanka Insurance was flawed, annulled the privatization and ordered that its current owners return its shares in the company back to the treasury. However, its owners have been allowed to keep profits made by the insurer after privatization.[5]

In 2005, the company acquired a 99% stake in Lanka Bell Limited, a fixed line telecom operator in Sri Lanka.[6]

DCSL is currently the holding company of Lanka Bell Limited, Periceyl Private Limited, National Assets Management Limited, Balangoda Plantations PLC, Madulsima Plantations PLC, Texpro Industries Limited and associate company Aitken Spence & Company PLC. Deshamanya Harry Jayawardena is the Chairman of Distilleries Company of Sri Lanka PLC.