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Expolanka Holdings

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Expolanka Holdings Limited
Company typePrivate
IndustryLogistics
Founded1978; 46 years ago (1978)
Headquarters15A, Clifford Avenue,
Colombo 3
,
Sri Lanka
Key people
  • Bokuto Yamauchi (Chairman & Group CEO)
RevenueDecrease LKR249.954 billion (2024)
Decrease LKR(16.422) billion (2024)
Decrease LKR(17.693) billion (2024)
Total assetsDecrease LKR182.868 billion (2024)
Total equityDecrease LKR113.173 billion (2024)
Number of employees
Increase 3,724 (2023)
ParentSG Holdings Global
Websitewww.expolanka.com
Footnotes / references
[1]

Expolanka Holdings Limited is a diversified conglomerate with interests in logistics, leisure, food and technology businesses with a global presence in 39 countries and over 100 cities.

Expolanka Holdings PLC shares were delisted from the Colombo Stock Exchange (CSE) on 12 September 2024, after shareholders approved a resolution on 27 March 2024.[2] The company is now registered as Expolanka Holdings Ltd.[3]

History

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Expolanka Limited was established in 1978 as the Sri Lankan economy was liberalised and is the flagship company of Expolanka Holdings. Initially a pioneer exporter of fresh produce, Expolanka has had sustained growth emerging as a strong group of companies. The group has diversified into exports, imports and trading, freight forwarding & logistics, manufacturing, airline representation & operation, travels & tours and information technology over the years.

New Developments

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Having announced on 26 April 2011, its intention to go public with an initial public offering after successful private placement of its shares to broad-base ownership, Expolanka Holdings went ahead with the IPO on 12 May 2011 floating 172,000,000 ordinary voting shares at LKR 14 per share.

Listed on the main board of the Colombo Stock Exchange, Expolanka Holdings PLC once ranked among the top five diversified conglomerates in the bourse.[4]

In May 2014, SG Holdings, Japan's second-largest logistics firm, acquired a 30% stake in Expolanka Holdings PLC triggering mandatory offer requirements set by Sri Lanka's Securities and Exchange Commission.[5] In June 2014, SG Holdings confirmed that it has secured controlling interest in Expolanka with the acquisition of over 51% of total shares.[6]

Delisting from the Colombo Stock Exchange

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On 1 March 2024, Expolanka Holdings PLC disclosed its intention to withdraw from the Colombo Stock Exchange (CSE) in a press release conveyed by the company Director and Group CEO Hanif Yusoof. This proposition will be contingent upon requisite shareholder approval, regulatory endorsements, and authorisations.[7][8]

On 27 March, at the Extraordinary General Meeting the shareholders of Expolanka Holdings approved the requisite resolution pertaining to the proposed delisting of the shares of Expolanka Holdings from the Official List of the CSE.[9] On 8 May 2024, Expolanka Holdings disclosed that the company received permission from the Securities and Exchange Commission to its delisting request.[10]

Expolanka Holdings PLC's shares were delisted from the Colombo Stock Exchange on 12 September 2024, following a shareholder resolution passed on 27 March 2024.[2] The company has transitioned from a public listed company to a public company and is now registered as Expolanka Holdings Limited.[3]

Finances

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Financial summary
Year Revenue LKR (mns) EBIT LKR (mns) Profit LKR (mns) Current assets LKR (mns) Equity LKR (mns) Earning per share LKR
2022/23 546,401 39,572 31,050 159,380 149,628 15.88
2021/22 694,157 86,770 72,792 275,172 124,354 37.24
2020/21 218,735 16,893 14,880 59,543 27,380 7.61
2019/20 103,246 652 (438) 28,295 12,831 (0.22)
2018/19 95,455 3,263 1,909 28,196 15,788 0.74
2017/18 77,533 1,864 961 23,929 14,028 0.36
2016/17 63,492 2,061 1,229 18,809 13,377 0.49
2015/16 56,015 2,134 1,445 18,086 13,120 0.57
2014/15 52,652 1,454 1,048 17,348 11,618 0.45
2013/14 53,319 2,179 1,570 17,007 10,765 0.73

Source: Annual Report, 2022/23 (pp. 224–225)[11]

References

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  1. ^ "Interim Report 2023/24" (PDF). cse.lk. Expolanka Holdings PLC. Archived (PDF) from the original on 8 May 2024. Retrieved 8 May 2024.
  2. ^ a b "Expolanka off CSE's official list". Daily FT. 13 September 2024. Archived from the original on 13 September 2024. Retrieved 13 September 2024.
  3. ^ a b "Expolanka Holdings changes name and status post-delisting". Daily FT. 13 September 2024. Archived from the original on 13 September 2024. Retrieved 13 September 2024.
  4. ^ "CLC beats Expolanka Holdings in market capitalization". The Island. Upali Newspapers. 4 November 2021. Archived from the original on 28 March 2023. Retrieved 5 April 2023.
  5. ^ "Japan Sagawa's deal with Expolanka boosts Lanka's hub aspirations". The Financial Times. Colombo, Sri Lanka. 12 May 2014. Archived from the original on 18 June 2014. Retrieved 16 June 2014.
  6. ^ "Results of the Takeover Bid of Expolanka Holdings PLC". 19 June 2014. Archived from the original on 14 July 2014. Retrieved 3 July 2014.
  7. ^ "Expolanka plans delisting from CSE to focus on global growth". Daily Mirror. 2 March 2024. Archived from the original on 2 March 2024. Retrieved 2 March 2024.
  8. ^ "Most valuable PLC Expolanka announces de-listing from CSE". Daily FT. 2 March 2024. Archived from the original on 2 March 2024. Retrieved 2 March 2024.
  9. ^ "Expolanka extends Exit Offer deadline to 10 June | Daily FT". www.ft.lk. Retrieved 5 June 2024.
  10. ^ "Expolanka Holdings PLC - Delisting of ordinary shares from the official list of the Colombo Stock Exchange" (PDF). cse.lk. Expolanka Holdings PLC. Archived (PDF) from the original on 8 May 2024. Retrieved 8 May 2024.
  11. ^ "Annual Report 2022/23" (PDF). cse.lk. Expolanka Holdings PLC. Retrieved 8 September 2023.
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