Stax Inc., a global strategy consulting firm, delivered a cohesive presentation highlighting the country advantage and the untapped potential of Sri Lanka at a high-profile event held in Singapore recently.
The concentrated group included 70+ professionals ranging from large corporates to small and medium enterprises (SMEs) and private equity firms in one platform in an open knowledge sharing and networking session.
The event was held at The Tower Club, Singapore in partnership with the Singapore International Chamber of Commerce (SICC), International Enterprise (IE) and the Singapore Sri Lanka Business Association (SLBA).
Stax CEO Rafi Musher sharing his experience in setting up a fully-fledged consulting arm in Sri Lanka opined, “Stax, as a global consulting firm, especially saw the prospect in 2005, when we were looking to expand our business in to the Asian region. What intrigued me was Sri Lanka’s vast space for a growing economy despite the internal conflict the country was facing then.
Sri Lanka is transforming into an attractive investment geography as we speak. We are working with a number of global corporations in multiple sectors and private equity firms, serving them from the initial acquisition screening to helping them finalize their investments. As a frequent visitor to the beautiful island nation, I am confident about the plethora of possibilities resurgent Sri Lanka has to offer us, to our clients, businesses and investors - in the present and future.”
He further elaborated on how Stax enables both international companies looking to invest in Sri Lanka through their acquisition screening process as well as assisting local companies’ position themselves for investment from such firms.
Stax Director Dr. Kumudu Gunasekera delivering an in-depth analysis about the factors escalating Sri Lanka’s economical readiness, said, “Present Sri Lanka is experiencing the highest gross domestic product (GDP) growth rates within the region. Sri Lanka is on the threshold of moving to the ‘upper middle income’ category according to the latest reports and we feel this is the ideal period for an investor to focus towards the ‘Miracle of Asia’.”
He explained, “In the past, the majority of businesses in Sri Lanka only considered traditional methods of raising capital such as taking loans or going for an IPO, but in recent times, companies are open for investments from private equity funds and corporates, realizing the benefits of such a relationship which goes beyond mere financial benefits. These relationships provide local companies with access to international networks, share best practices as well as expose companies to their valuable knowledge and experience base.”
Dr. Gunasekera also mentioned that he believed the new government would introduce policies to create a competitive, knowledge-based economy. He featured four sectors in Sri Lanka which the consultancy firm believes in having high potential for growth, which are healthcare, education, hospitality and exports covering both knowledge-based and manufacturing-based industry verticals.
Stax serves large corporations and private equity firms across multiple sectors and regions, advising on changes in market needs, growth, profit improvement and major investments. The company has operated in Sri Lanka since 2005 and has helped a number of international firms successfully enter the local market. Its corporate strategy clients range from US $ 100 million local companies to US $ 30 billion global corporations and its private equity clients and their portfolio companies include 14 of the top 20 global private equity firms.