The 100 year old of Kegalle Plantation PLC, is set to create financial history by posting the highest ever net profit of Rs. 20 million by the end of the year. This was Rs. 11 million last year.
Superintendent Atale Estate Lakshman Amaratunga a subsidiary of Arpico Group said that new management tools, the US dollar appreciation and high prices in the global market for their products has helped the increase in profits. “We are also expecting a record crop this year as well.”
He said that the Atale Estate which has over 2500 acres was given on a long lease by the Janatha Estate Development Board under the then government restructuring program in 1993. The ownership of the Company changed during the latter part of 1995 when the Government sold 20% of the shares it held to the public and the majority stake of 51% to RPK Management Services (Pvt) Limited.
It also gifted 10% or 2 million shares to over 8,000 eligible employees. In May 1997 the Government sold further 19% shares it held through the Colombo Stock Exchange (CSE), to the public and thereby, totally exited from the ownership of Kegalle Plantations PLC.
Today Kegalle Plantations PLC is the largest rubber producing company among the Regional Plantation Companies accounting for 4.0 million kg of average production per annum. It also supplies their products to Arpico and several other local tyre manufactures.
He said that he joined Atale Estate in 2010 and launched a major restructuring program. Under this program for the first time coconut was also planted and now the company has also invested Aga Wood and Palm oil as well. “This is to have a plantation mix rather than depending only on one crop.”
Atale Estate invested over Rs. 20 million for the project so far. To date Atale Estate is the only Estate in Kegalle Plantations PLC to have Palm oil of 30 hectares.
The company also launched a major CSR initiative by providing land and single housing units to their laborers moving them out of the line room culture. For this endeavor Atale Estate won a merit award at the annual competition for the Estate Worker Housing Cooperative Society conducted by the Plantation Human Development Trust held in 2014 at Ministry of Disaster Management.
He said they built 110 single unit house and the estate would provide 7 perches each for this. The Indian government too has come up with a credit line to fund this project of which 40% has now being completed.
Another significant achievement made by Atale Estate under guidance from Superintendent Atale Estate Lakshman Amaratunga is that deviating from the current trend of estate youth seeking employment in the apparel sector, about 20 women from the neighboring villages and from the estate, who were employed in the apparel sector left and joined Atale Estate’s sole crepe factory as a conducive environment has been created.
For this Atale Estate of Kegalle Plantations PLC received the prestigious Gold Award under Large Scale, Estate sector in recognizing the contributions made to maintain very high standard of Social Dialogue and Work Place Corporation.
In addition we also have a banking arm for the estate to provide them with loan facilities for any need under very flexible interest rates.” This program has also won several awards.
The safety of workers too have been increased work atmosphere along with facilities for workers too have got the management attention.
In a bid to save electricity the company has also introduced a special lighting system in the roof and this initiative helped the Atale Estate to win a Green Energy award.
For this Atale Estate received the prestigious Gold Award under Large Scale, Estate sector in recognizing the contributions made to maintain very high standard of Social Dialogue and Work Place Corporation.
Atale Estate also won the Silver Category Award at the National Chamber of Exporters of Sri Lanka 25th (NCE) Export Awards 2017 at the Hilton Colombo. This prestigious award was presented under Agriculture Bulk, Rubber Products Sub Sector category in recognition of export performance in 2016.
Selected by an eminent panel of judges, the award recognizes the efforts made by the company to positively impact the nation’s export sector. Atale Estate is the first regional plantation company estate to obtain this prestigious NCE Export Award and this is the second consecutive year this prestigious award has been won by Atale Estate.
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| Amaratunge with some of the awards they won |
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