LOLC Holdings

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LOLC Holdings
TypePublic
CSE: LOLC.N0000
ISINLK0113N00007
IndustryConglomerate
Founded1980; 42 years ago (1980)
Headquarters
Rajagiriya
,
Sri Lanka
Key people
ProductsFinancial services, Agriculture & Plantation, Leisure, Renewable energy, Construction, Manufacturing, Trading
BrandsLOLC, Browns
RevenueIncrease LKR2,530 million[1] (2021)
Increase LKR1,410 million[1] (2021)
Increase LKR8,788 million[1] (2021)
Total assetsIncrease LKR171,110 million[1] (2021)
Total equityIncrease LKR56,614 million[1] (2021)
Owner
  • LOLC Capital (Pvt) Ltd (30.99%)
  • Ishara Nanayakkara (19.28%)
  • Commercial Bank of Ceylon/Ishara Nanayakkara (16.62%)
Number of employees
13,362[1] (2021)
Websitelolc.com
Footnotes / references
[1]

LOLC Holdings PLC is a Sri Lankan conglomerate listed on the Colombo Stock Exchange (CSE). Originally starting as a non-banking financial company LOLC has grown into one of largest Sri Lankan conglomerates involved in many sectors and subsidiaries in several countries although it is still mainly involved in the financial sector.

History[]

LOLC was originally founded as Lanka ORIX Leasing Company (LOLC) which then grew into the LOLC Group. As diversification and growth continued LOLC became a holding company.[2]

By 2019/20 LOLC was among the most profitable companies in Sri Lanka but adopted a strategy of aggressive expansion without paying dividends to fuel overseas expansion in Cambodia , Myanmar, Pakistan, Philippines, Indonesia, Nigeria and Zambia.[3][4]

In January 2021 the market capitalization of LOLC Holdings exceeded $1Billion.[5]

LOLC using its Browns Investments PLC, also became the partner of China Harbour Engineering Company Limited for the development of the Colombo International Financial Center Mixed Development Project. Becoming the first major local investor in the megaproject. [6]

Subsidiaries[]

LOLC Holdings includes numerous subsidiaries in various sectors and companies with significant ownership by LOLC. These include,[7]

Financial[]

  • LOLC Finance
  • LOLOLC Development Finance
  • LOLC Securities
  • LOLC Life Assurance
  • LOLC General Insurance
  • LOLC Factors
  • LOLC Securities
  • LOLC Capital One
  • LOLC Investments
  • LOLC Motors
  • Commercial Leasing & Finance
  • PRASAC Micro Finance Institution
  • LOLC Cambodia
  • LOLC Myanmar Micro-finance
  • LOLC Al-Falaah
  • LOLC Fleet Management
  • Sarana Sumut Ventura
  • LOLC Finance Zambia
  • Fina Trust Microfinance Bank
  • Pak Oman Microfinance Bank Ltd

Agriculture[]

  • Browns Agriculture
  • AgStar
  • Maturata Plantations
  • Gal Oya Plantations

Leisure[]

  • Browns Hotels & Resorts
  • Excel Restaurants Pvt Ltd

Energy[]

  • Sagasolar Power
  • Sunbird Bioenergy Sierra Leone

Construction[]

  • Browns Engineering & Construction
  • Sierra Construction

Information Technology[]

  • LOLC Technologies

Manufacturing[]

  • LOLC Advanced Technologies
  • Ceylon Graphene Technologies

References[]

  1. ^ a b c d e f g "LOLC Holding PLC Annual report 2020/21" (PDF). cse.lk. LOLC Holding PLC. Retrieved 2021-10-23.{{cite web}}: CS1 maint: url-status (link)
  2. ^ "LOLC | History". lolc.com. Retrieved 2021-01-30.
  3. ^ Nadeera, Dilshan. "LOLC paid no dividends for past several years to fund overseas expansion: Ishara". Retrieved 2021-02-03.
  4. ^ "LOLC CONCLUDES US$ 603 MN SALE OF PRASAC AMIDST TURBULENT GLOBAL ECONOMIC CONDITIONS". Daily News. Retrieved 2021-02-03.
  5. ^ Nadeera, Dilshan. "LOLC Holdings, third $1 billion company at CSE". Retrieved 2021-01-30.
  6. ^ Sirimane, Shirajiv. "Port City to bring economic benefits for entire country'". Daily News. Retrieved 2021-05-22.
  7. ^ "Annual Report 2019/20" (PDF). Retrieved 28 January 2021.
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