Hayleys

From Wikipedia, the free encyclopedia
Hayleys PLC
TypePublic conglomerate
CSE: HAYL.N0000
IndustryAgriculture
BPO And Shared Services
Construction Materials
Consumer Products
Fibre
Hand Protection
Leisure And Aviation
Plantations And Tea Exports
Power & Energy
Purification Products
Textiles
Transportation And Logistics
PredecessorChas P. Hayley and Company
Founded10 January 1878; 144 years ago (1878-01-10)
Galle, Sri Lanka.
FounderCharles Pickering Hayley
Headquarters
Colombo
,
Sri Lanka
Key people
Mohan Pandithage (Chairman)
Dhammika Perera (Co-Chairman)
RevenueIncrease Rs 241.276 billion [1]
(US$ 1.278 billion (2021)
Increase Rs 25.954 billion [1]
(US$ 323.957 million (2021)
Increase Rs 14.046 billion [1]
(US$ 74.402 million (2021)
Total assetsIncrease Rs 279.383 billion [1]
(US$ 1.398 billion (2021)
Total equityIncrease Rs 75.198 billion [1]
(US$ 376.312 million (2021)
OwnerDhammika Perera (51.01%)
D.S.Jayasundera Trust (11.60%)
Finco Holdings (3.12%)
Number of employees
Decrease 30,765 (2021)[1]
Websitewww.hayleys.com

Hayleys PLC was founded in 1878 and has since become one of Sri Lanka's largest multinational and diversified conglomerate. Hayleys single-handedly accounts for approximately 4.2% of Sri Lanka's export income,[2] and 3.9% of the country's tea and 4.5% of its rubber production.[3] With over 30,000 employees, Hayley was also the first listed entity in the country to surpass annual revenue of US$1 billion in Fiscal Year 2017/18.[4] The company operates over 16 business sectors: eco solutions, hand protection, purification, agriculture, consumer and retail, leisure, textile manufacturing, construction materials, plantations, industrial solutions, power and energy, transportation and logistics, BPO, tea exports, projects and engineering, and investments and services. Hayleys comprises over 130 business units and subsidiaries, nine of which are publicly listed in the Colombo Stock Exchange. In addition to Sri Lanka, Hayleys today has manufacturing facilities in Indonesia and Thailand and marketing operations in Australia, India, Bangladesh, Italy, Japan, Netherlands, UK and USA and its products are sold in 80 countries.

History[]

Early Years[]

The beginnings of the Hayleys Group can be traced back to 1871 when Charles Pickering Hayley (1848–1934), the son of British businessman, Thomas Hayley (1807–1881), disembarked from the Percy Douglas,[5] a 781-tonne clipper ship (owned by Thomas Hayley), at Galle, Ceylon. The ship subsequently was wrecked off the coast of Rangoon.

Hayley joined a firm of shipping agents, Thomson Mitchell & Co, in 1874. When the company closed three years later due to bad investments, he rented a shop on Pedlar Street in Galle Fort and started his own import/export company, Chas. P. Hayley & Co., on 10 January 1878, exporting local products including coir, cinnamon and citronella oil and importing goods such as British claret. Hayley married Gertrude Fanny Lee (1849–1911), the daughter of George Lee, the Postmaster General of Ceylon (1844–1860) and Martha née Austin.[6] The couple had six children and in 1893 his oldest son, Alec (1875–1936), joined the firm, followed by another son, Stuart Pickering (1883–1960), eight years later.

In 1909, he entered into partnership with W. W. Kenny to purchase Thurburn Stores, at Deans Road.

Hayley and Kenny became a Private Limited Company in 1935 and Chas P. Hayley & Co. becomes a private limited liability company and fully owned subsidiary of Hayley and Kenny Ltd. in 1944. In 1954 under one corporate umbrella, the entity went public. Hayleys Ltd continued to diversify into a portfolio that currently includes activated carbon, rubber gloves, textiles, fibre based products, tea and rubber plantations, leisure, transportation and logistics services, consumer products, and other investments and services to name just a few.

2000-Present[]

Hayleys steps into power generation in collaboration with AES corporation of USA in 2001.[7]

Hayleys entered the ship-owning business in 2003 with a maiden investment in the container vessel "Orient Stride". 2003 also saw the first overseas plant setup by Dipped Products Ltd.[8]

2006 saw Hayleys adopt a new visual identity, replacing its former logo of 50 years.[9]

In 2008, Hayleys became one of the 10 signatories for the CEO Water Mandate initiative of the UN's Global Compact.[10] It was also in 2008 that Dhammika Perera acquired the controlling stake in Hayleys.[11]

Hayleys continued to grow and expand through the decades with a series of strategic acquisitions, such as the acquisition of the Ceylon Continental Hotel in Colombo in 2010 (which at the time was the single largest investment in its history),[12] and that of Alumex Group[13] and Amaya Leisure PLC in 2011.[14] The Ceylon Continental Hotel was rebranded and unveiled as The Kingsbury Hotel in 2012.[15]

Hayleys also made forays into the renewable energy industry from 2013 onwards, through its wind power, hydro power and solar power plants located in advantageous locations in Sri Lanka.[16]

The Advantis Free Zone was opened for operations in 2015.[17]

In 2016, Hayleys acquired a 75% controlling stake in Fentons Group[18] (subsequently rebranded as Hayleys Fentons)[19] and purchased the Kuda Rah Resort in the Maldives (which became Amaya Kuda Rah).[20]

In 2017, Hayleys acquired 61.73% of equity in Singer (Sri Lanka) PLC[21] (the single largest acquisition for a listed company in Sri Lanka in recent times), as well as the majority stake in Sri Lanka Shipping Company Limited,[22] a leading shipping and maritime organization, making Advantis the largest vessel operator.

Hayleys celebrated 140 years of excellence in 2018.[23]

In 2018, Hayleys entered into a strategic partnership with Martin Bauer group of Germany, renaming Hayleys Global Beverages as Martin Bauer Hayleys with the joint venture investment by MB Beteligungs GmbH.[24]

In April 2021, Hayleys Fabric acquired a 98.84% stake in South Asia Textiles Limited as part of its strategic plan to export value-added fabrics.[25]

Hayleys and its associates have forged successful partnerships with global giants such as Mercedes-Benz, TATA International, Dystar, Symrise, Bayer Cropscience, Philips Lighting, Polymer Latex, Volvo, Fujifilm, P&G, Shimadzu, FedEx and Gillette, to name just a few. Its adherence to the tenets of good corporate governance and ethical practices has made it one of the most respected companies in Sri Lanka and a corporate inspiration to many others.

Despite such unfavorable conditions such as an ethnic conflict that had claimed 65,000 lives since 1983, rampant inflation, and devastation and 30,000 deaths caused by the tsunami of 2004, Hayleys has survived and evolved into a US$300 million firm. The company has now transformed from its roots as a trading company into an industrial and services conglomerate.

Corporate affairs[]

Hayleys is a Sri Lankan diversified conglomerate headquartered in Colombo, Sri Lanka. Its main offices are located in and around the premises; however other manufacturing, agricultural, marketing and production bases are geographically spread around the country and throughout five different continents.

Hayleys PLC, the Group's holding company, has an AA-(Ika) by Fitch and a market capitalisation of 1.08%. However the composition of the entire Group includes 8 other publicly listed companies. The blue chip recorded its highest profits in the twelve months ending 31 March 2010, and made its single largest investment in its 130 plus year history – the buying over of the five star Ceylon Continental Hotel in Colombo, Sri Lanka now known as The Kingsbury. In 2010, the Ceylon Chamber of Commerce ranked Hayleys as the country's best corporate citizen, based on an analysis of several factors of CSR and sustainability, implemented throughout public and private spheres.[26]

Governance Structure[]

Hayleys is governed by the chairman and the board of directors and is managed by the Group Management Committee.

Chairman and Board of Directors[]

The current chairman and Chief Executive of Hayleys is Mohan Pandithage while Dhammika Perera serves as co-chairman and Non-Executive. The current board of directors includes Executive Directors Sarath Ganegoda, Rajitha Kariyawasan, Ruwan Waidyaratne, Jayanthi Dharmasena and Rohan Karr, as well as Non-Executive Independent Directors Harsha Cabral, PC, Hisham Jamaldeen, Aravinda Perera and Gamini Gunaratne. Additionally, Kawshi Amarasinghe serves on the board as Alternate Director to Dhammika Perera.[27]

Group Management Committee[]

The Hayleys Group Management Committee (GMC) comprises the Chairman & Chief Executive, the executive directors of Hayleys PLC, the managing directors of subsidiary companies, Group Chief Financial Officer and the Head of Group Human Resources. The current GMC consists of Roshan Rajadurai (Managing Director – Hayleys Plantations), Rohan Goonetilleke (Managing Director – Hayleys Fabric PLC), Darshi Talpahewa (Head – Group Human Resources, Legal & Corporate Communications), Pramuk Dediwela (Managing Director – Alumex Group), Niran Ranatunga (Managing Director – Mabroc Group), Choliya De Silva (Group CFO), Andrew Ng (Managing Director – Dipped Products Group), Hasith Prematillake (Managing Director – Fentons Group), Mahesh Wijewardene (Managing Director – Singer Group), Wasaba Jayasekera (Managing Director – Hayleys Aventura (Pvt) Ltd)[28] and Rajeeve Goonetileke (Managing Director – Eco Solutions Sector).[29][30]

Corporate recognition[]

In 2010, Hayleys Group was named Sri Lanka's Best Corporate Citizen by the Ceylon Chamber of Commerce.[31]

The firm brought fame and recognition to the country by winning a European Foundation for Management Development Award for the INSEAD produced case study featuring the company, and winning the USAID Global Development Alliance Award for Sri Lanka for fostering commercial agriculture in Sri Lanka's Eastern Province.[26] [32]

In 2012, the Hayleys Group was ranked amongst the top three most respected business entities in Sri Lanka and placed first for Nation-Mindedness in Lanka Monthly Digest's ‘Most Respected Entities In Sri Lanka’ survey, the Group's best standing since 2008.[33]

In 2021, Hayleys PLC was ranked the No.1 company in the LMD's Top 100 listed companies of Sri Lanka (for the fifth consecutive time) and the Business Today Top 40.[34]

References[]

  1. ^ a b c d e f "Hayleys PLC Annual Report 2020/21" (PDF). Hayleys. Hayleys PLC. 30 June 2021. Retrieved 30 June 2021.
  2. ^ "Leading business rankings place Hayleys as No. 1 corporate for 2020/21 | Daily FT". www.ft.lk. Retrieved 2021-12-03.
  3. ^ "Hayleys Annual Report 2020/21 | Colombo Stock Exchange". Colombo Stock Exchange. Retrieved 2021-12-03.
  4. ^ publisher (2018-05-22). "Hayleys becomes first listed Sri Lankan company to cross US 1 billion dollars turnover in FY2017/18". Ceylon Business Reporter. Retrieved 2021-02-18.
  5. ^ "Archived copy". Archived from the original on 2012-04-05. Retrieved 2013-02-19.CS1 maint: archived copy as title (link)
  6. ^ Senanayake, Manouri P Senanayake (2018). Odyssey of a Runaway Child: Galle to Australia's Goldfields and Beyond. ISBN 9789555333672.
  7. ^ "Performance Evaluation Report: AES Kelanitissa Power Project in Sri Lanka". Asian Development Bank. 2012-12-27. Retrieved 2021-07-27.
  8. ^ "Hayleys goes for ship owning and management". Daily News Sri Lanka. 2003-10-18. Retrieved 2021-07-27.
  9. ^ "Hayleys unveils new corporate identity". The Sunday Times. 2007-01-21. Retrieved 2021-07-27.
  10. ^ "Hayleys PLC Submits Communication on Progress for 2018". CEO Water Mandate. 2018-12-18. Retrieved 2021-07-27.
  11. ^ "Sri Lanka stocks up, Dhammika Perera ups Hayleys stake". Lanka Business Online. 2011-09-01. Retrieved 2021-07-27.
  12. ^ "Sri Lanka Hayleys buys 51-pct stake in Hotel Ceylon Continental". Lanka Business Online. 2010-03-10. Retrieved 2021-07-27.
  13. ^ "HOW HAYLEYS COMPLEMENTS DHAMMIKA PERERA'S AGGRESSION". Echelon Magazine. 2017-11-27. Retrieved 2021-07-27.
  14. ^ "Sri Lanka Hayleys buys control of Amaya Leisure". Lanka Business Online. 2011-09-01. Retrieved 2021-07-27.
  15. ^ "Ceylon Continental Hotel rebrands as 'Kingsbury' Hotel". Sri Lanka Mirror. 2012-12-17. Retrieved 2021-07-27.
  16. ^ "Hayleys starts wind power generation at Nirmalapura". Daily FT. 2012-08-10. Retrieved 2021-07-27.
  17. ^ "Hayleys Advantis to Enter Free Zone Logistics Hub Operations". Daily Mirror. 2014-06-09. Retrieved 2021-07-27.
  18. ^ "Hayleys acquires Fentons for Rs 963 mn". Daily Newss. 2016-03-16. Retrieved 2021-07-27.
  19. ^ "Hayleys ups Fentons stake by 24.5% to 99.5%; unveils new logo". Daily FT. 2019-08-26. Retrieved 2021-07-27.
  20. ^ "Hayleys-Amaya forays into Maldives with $ 23 m luxury resort buy". Daily FT. 2016-07-20. Retrieved 2021-07-27.
  21. ^ "Hayleys to acquire Singer Sri Lanka for Rs.12.5bn". Daily Mirror. 2017-09-14. Retrieved 2021-07-27.
  22. ^ "Hayleys Group buys Sri Lanka Shipping for Rs. 4.9 billion". Daily FT. 2017-08-29. Retrieved 2021-07-27.
  23. ^ "Hayleys celebrates 140 years of innovative excellence in Sri Lanka". Daily FT. 2018-08-13. Retrieved 2021-07-27.
  24. ^ "Martin Bauer Group and Hayleys Global Beverages form JV". Daily News. 2018-11-02. Retrieved 2021-07-27.
  25. ^ "Sri Lanka's Hayleys buys South Asia Textiles for Rs3.9bn". EconomyNext. 2021-04-24. Retrieved 2021-12-03.
  26. ^ a b "Research – Articles – Journals – Research better, faster at HighBeam Research". Business.highbeam.com. Archived from the original on 11 October 2012. Retrieved 22 November 2018.
  27. ^ "HAYLEYS PLC (HAYL.N0000)". Market Screener. Surperformance. Retrieved 9 June 2021.
  28. ^ "Ministry of Defence – Sri Lanka". www.defence.lk. Retrieved 2021-10-29.
  29. ^ "Hayleys Fibre announces Rajeeve Goonetilleke as new MD | Daily FT". www.ft.lk. Retrieved 2021-10-29.
  30. ^ Lugoda, Uwin (5 May 2020). "Hayleys Group's senior management on voluntary pay cuts". The Morning Newspaper. Retrieved 9 June 2021.
  31. ^ "Hayleys gets the balance right at the Best Corporate Citizen Awards 2010 – Other | Daily Mirror". www.dailymirror.lk. Retrieved 2021-12-03.
  32. ^ "Centres of Excellence – INSEAD" (PDF). Insead.edu. 15 August 2015. Retrieved 22 November 2018.
  33. ^ "Archived copy". Archived from the original on 2012-11-05. Retrieved 2013-02-19.CS1 maint: archived copy as title (link)
  34. ^ "Hayleys ranked No. 1 corporate for performance and value creation". Sunday Observer. 2021-11-27. Retrieved 2021-12-03.

External links[]

Retrieved from ""