Maskeliya Tea Exports Acquires 11.84% Stake in Asia Siyaka Commodities PLC

Maskeliya Tea Exports, a client of Asia Securities, purchased 30.2 million ordinary voting shares of Asia Siyaka Commodities on January 30, 2023.

"Accordingly, total shares held by Maskeliya Tea Exports (Pvt) Ltd in Asia Siyaka Commodities PLC amount to 30,791,252 shares, representing 11.84 percent of the company's issued share capital," Asia Securities said in a stock market filing.

Lanka Commodity Brokers Limited owned 51.03 percent of Asia Siyaka Commodities as of September 30, 2022.

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

Maskeliya Tea Exports began as a small family-run business with one tea garden in the southern region of Ceylon and has grown to become one of Sri Lanka's largest tea manufacturers. It is a vertically integrated tea industry group focused on tea growing, manufacturing, exporting, branding, and marketing.

Its expertise spans all phases of tea production, from the initial establishment of new tea gardens, to growing tea under difficult conditions, to specialised field husbandry and harvesting, to the design, production, and international marketing of value-added tea products such as tea blending, tea flavouring, tea packing, and all aspects of herbal tea production.