Maskeliya Tea Exports acquires 12% of Asia Siyaka Commodities

Maskeliya Tea Exports (Pvt.) Ltd has acquired an 11.84 percent stake in Asia Siyaka Commodities PLC.
Asia Securities yesterday said its client Maskeliya Tea Exports bought 30.2 million ordinary voting shares of Asia Siyaka Commodities, on January 30, 2023.

“Accordingly, total shares held by Maskeliya Tea Exports (Pv.t) Ltd in Asia Siyaka Commodities PLC amounts to 30,791,252 shares, which is 11.84 percent of the issued share capital of the company,” a stock market filing by Asia Securities said.

As at September 30, 2022, Lanka Commodity Brokers Limited held a controlling stake of 51.03 percent in Asia Siyaka Commodities.

The second largest shareholder was Chadstone (Pvt.) Ltd, with 5.19 percent, followed by K.V. Kaviratne and Almas Holdings (Pvtm) Ltd, which held 4.23 percent and 3.85 percent, respectively.

Maskeliya Tea Exports, which started as a family-run small business, with one tea garden in the southern region of Ceylon, has grown into one of the largest tea manufacturers in Sri Lanka. It is a vertically integrated group of companies in the tea industry, with growing, manufacturing, exporting, branding and marketing of tea as its focus. 
Its expertise covers all phases of tea production from the initial setting up of new tea gardens, growing tea under marginal conditions, specialised field husbandry and harvesting, through black and green primary manufacture, to the design, production and international marketing of value-added tea products – tea blending, tea flavouring, tea packing as well as all aspects of herbal tea production.