John Keells Holdings PLC (JKH) is Sri Lanka s largest listed conglomerate in the C

olombo Stock Exchange. From managing the largest number of hotel rooms in Sri La
nka to owning the largest private-sector-owned transportation business in the co
untry, providing port and marine fuel services to IT solutions, manufacturing of
food and beverages to running a chain of supermarkets, tea broking to stock bro
king, banking to real estate, JKH has made its presence felt in virtually every
major sphere of the economy. Since its modest beginnings as a produce and exchan
ge broker in the early 1870s, JKH has been known to constantly re-invent, re-ali
gn and reposition itself in exploring new avenues of growth, and is widely consi
dered as a benchmark of the local economy.
JKH is a full member of the World Economic Forum, and having issued Global Depos
itory Receipts on the Luxemburg Stock Exchange, was the first Sri Lankan company
to be listed overseas. As a Member of the Global Compact
the UN-sponsored inter
national corporate citizenship initiative JKH is also committed to sustainable d
evelopment and greater social responsibility in a multi-stakeholder context. JKH
has been ranked first in LMD's "Most Respected Entities in Sri Lanka" survey fo
r a record nine years including in 2014 and assigned an AA+ (lka) credit rating
by Fitch Ratings Lanka Ltd.
Contents
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History
Recent History
References
External links

History
The origins of John Keells Holdings lie in a produce and exchange broking busine
ss started by two Englishmen, Edwin and George John, in Colombo, Ceylon, in the
early 1870s. E. John & Co. was one of a handful of broking companies that helped
build tea production and export into the mainstay of the colonial Ceylonese eco
nomy. In 1948, the year of Ceylon's Independence, E. John & Co. merged with two
London-based broking companies to form the private limited company of E. John, T
hompson, White & Co. Ltd. Business opportunities in a fledgling post-Independenc
e economy spurred growth and expansion throughout the Fifties and Sixties. The n
ame that is now synonymous with Sri Lankan business leadership came into existen
ce following the acquisition of another Colombo broking company, Keell & Waldock
Ltd, in 1960, the resulting entity being named John Keell Thompson White Ltd.[1
] As Ceylon modernized, becoming the Republic of Sri Lanka in 1972, social and p
olitical change helped drive John Keells' expansion and diversification. The gro
wing economic importance of travel and tourism was reflected in the acquisition
of Walkers Tours & Travels, the leading inbound tour company of the time, and th
e Mackinnons' Group, which had extensive interests in shipping.[1] Thus began a
process of diversification that has resulted in today's 70-member conglomerate.
The parent firm, now known as John Keells PLC, became a public quoted company in
1974. The merged entity was known as John Keell Thompson White Ltd.
In October 1986 a newly incorporated John Keells Holdings Ltd. (JKH) acquired a
controlling stake in John Keells Limited and obtained a quotation on the Colombo
Stock Exchange Colombo Stock Exchange amidst a heavily over-subscribed public s
hare issue.[1]
Recent History
1994/95
Trans-Ware Logistics was established in collaboration with the Keppel Group of S
ingapore and the Malaysian International Shipping Corporation, to operate a stat
e-of-the-art integrated container depot.
P&O Nedlloyd Keells was created, as the agency for P&O Nedlloyd shipping lines.

RPK Management Services, a 50:50 JV with Richard Pieris, acquired controlling in

terests in Kegalle Plantations and Maskeliya Plantations, which together own ove
r 20,000 hectares (42 estates) of tea and rubber plantations.
1995/96
Acquired Velidhu Resort Hotel (an 80-roomed island resort) in the Maldives
irst major investment abroad.

JKH s f

1996/97
Keells Plantation Management Services acquired controlling interest in Namunukul
a Plantations, which owns nearly 12,000 hectares (20 estates) of tea and rubber
plantations.
1997/98
Incorporated John Keells Computer Services (JKCS), to take over the operations o
f John Keells Software, also adding P&O Nedlloyd s of UK and Emirates Airlines of
Dubai to its clientele.
1998/99
JKH entered into a JV with Central Finance and the IFC to set up a commercial ba
nk, Nations Trust Bank (NTB), which subsequently acquired the business of the Co
lombo branch of the Overseas Trust Bank of Hong Kong.
Hakuraa Island Resort, JKH s second hotel in the Maldives, commenced operations wi
th 70 water-bungalows.
1999/00
South Asia Gateway Terminals (SAGT), the largest private sector investment in Sr
i Lanka, commenced operations to own, operate and develop the Queen Elizabeth Qu
ay at the Port of Colombo. In alliance with several international and multilater
al organisations, JKH was the largest local shareholder with a 26.25% stake.
JKH and NTB launched the country's first networked loyalty card, Nexus.
2000/01
Matheson Keells Air Services, a Joint Venture between JKH and Matheson Bosanquet
Enterprises commenced operations, representing Leisure Cargo and Air 2000 and w
as based in Goa, India.
Mack Air Services Maldives was established in a Joint Venture, to function as a
GSA for American Airlines, Air 2000, Gulf Air, Leisure Cargo and Jet Airways in
the Maldives.
Mr. Vivendra Lintotawela succeeded Mr. Ken Balendra as Chairman of JKH.
2001/02
JKH became the only Sri Lankan Company to be selected amongst the World s best 200
small companies by Forbes Global Magazine.
2002/03
JKH acquired Lanka Marine Services, the only bunkering facility at the Port of C
olombo.
Nations Trust Bank acquired the local operations of American Express.
2003/04

JKH acquired a controlling stake in Asian Hotels and Properties Limited, in the
largest ever transaction in the Colombo Stock Exchange.
JKH sold its 50% stake in RPK Management Services.
2004/05
JKH acquired a controlling stake in Mercantile Leasing Limited; JKH launched TRI
(Tide Relief Initiative) to partner the government in Tsunami relief efforts.
Resort Hotels were restructured under John Keells Hotels Limited (KHL)
the first wave of SAP ERP was launched group wide 45 days ahead of schedule.
2005/06
JKH announced the merger of Nations Trust Bank with Mercantile Leasing Limited.
KHL acquired Yala Village.
JKH entered into a BPO joint venture with Raman Roy Associates of India.
Mr. Susantha Ratnayake succeeded Mr. Vivendra Lintotawela as Chairman of JKH.
2006/07
The Group acquired a lease on Dhonveli Beach and Spa and Ellaidhoo Tourist Resor
t in the Maldives.
JKH acquired 20 per cent of Associated Motorways PLC.
JKH increased its stake in South Asia Gateway Terminals (Pvt) Limited by 7.5 per
cent to 33.75 per cent.
The Group exited its restaurant businesses with the sale of majority stakes in K
eells Restaurants (Pvt) Limited and Crescat Restaurants (Pvt) Limited. John Keel
ls Holdings Ltd was renamed as John Keells Holdings PLC.
2007/08
The Group's first
d operations.
The lease held by
The International
igned a long-term
Group's expansion
ted.

Cinnamon Resort in the Maldives,

Cinnamon Island Alidhoo , commence

the Group in the Velidhu Island of the Maldives, expired.

Finance Corporation (IFC), a member of the World Bank group, s
funding arrangement amounting to US$75 million to support the
plans. 74 per cent stake Keells Business Systems Ltd was dives

2008/09
JKH acquired a further 8.44 per cent in South Asia Gateway Terminals (Pvt) Limit
ed and also increased stakes in Union Assurance PLC, Ceylon Cold Stores PLC, Joh
n Keells PLC and Keells Food Products PLC.
The privatisation of Lanka Marine Services (Pvt) Ltd was declared null and void
as per judgement delivered by the Supreme Court.
The stake in Associated Motorways PLC was divested.
Acquired a 44 per cent stake in Quatrro Finance & Accounting Solutions.
2009/10
The market capitalization exceeded US$1 billion.
JKH increased its effective stake of UA to 80.6 per cent.
JKH purchased a 24.6 per cent stake in Central Hospital (Private) Limited.
At the conclusion of the KHL 1:3 rights issue, JKH owned 82.9 per cent of KHL.
JKH was ranked first by the Business Today magazine s Top 10 award.
TransAsia Hotel was re-branded and re-launched as Cinnamon Lakeside Colombo.
The group released its first stand-alone Sustainability Report for 2008/09 in ad
herence to the Global Reporting Initiative (GRI-G3) framework.

2010/11
The Group divested the head lease of Alidhoo Island and purchased the head lease
of Dhonveli Island.
Construction commenced on a 200-room hotel in Beruwela.
The 'OnThree20' a 475 unit apartment complex project was launched.
JKH was ranked first in LMD magazine's Most Respected Entities in Sri Lanka surv
ey for 2010 & in Business Today magazine's Top 20.
2011/12
JKH was ranked first in the LMD Magazine s Most Respected Entities in Sri Lanka surv
ey for 2011 and Top 50 of Sri Lanka s leading listed companies for 2010/11.
JKH secured the number one spot in the Business Today magazine s Top 20 rankings. Co
nstruction of The Emperor apartment project at Crescat City, Colombo was completed
.
Chaaya Tranz Hikkaduwa (formerly known as Coral Gardens ) and Chaaya Wild Yala (
formerly known as Yala Village ) were re-opened after refurbishment.
2012 - 13
JKH was ranked first in the LMD Magazine's "Most Respected Entities in Sri Lanka
" survey for 2012 for the seventh time since the inception of the survey in 2005
.
Fitch Ratings reaffirmed John Keells Holdings PLC's National Long-Term rating at
"AAA(lka)" with a "Stable" outlook.
JKH secured the number one spot in the Business Today Magazine's "Top 20" rankin
gs for the eighth time since 1999.
John Keells Holdings PLC was adjudged the winner of the Gold Award in the "Overa
ll Excellence in Financial Reporting" category at the 48th Annual Report Awards
competition organized by the Institute of Chartered Accountants of Sri Lanka.
JKH was awarded the Golden Peacock Global Award for Sustainability and Walkers T
ours launched Asia's first Carbon Neutral Fleet.
Lakeside Colombo topped the Brand Finance list as the "Most Valued Hospitality B
rand" in Sri Lanka and the 200 room five star resort hotel "Cinnamon Bey" opened
.
The Group invested Rs.224 million during the financial year in the associate com
pany Saffron Aviation (Pvt) Ltd which is the parent company of a domestic airlin
e operating under the brand name "Cinnamon Air".
John Keells Foundation announced the first free corporate digital art gallery fo
r Sri Lankan artists to showcase their work throughout the year.
2013 - 14
The market capital of John Keells Holdings PLC exceeded US$2 billion for the fir
st time it its history.
Was recognized as one of the 15 great places to work in Sri Lanka through a surv
ey conducted by the Great Place to Work Institute in partnership with LMD and th
e Ceylon Chamber of Commerce.
JKH also announced the proposed development of a luxury multi/mixed use integrat
ed resorts project "Waterfront".
Keells Super launched the first ever mobile commerce enabled online store in Sri
Lanka.
Fitch Ratings reaffirmed John Keells Holdings PLC's National Long-Term rating at
"AAA(lka)" with a "Stable" outlook.
JKH remains at the number one position in the LMD Magazine's "Most Respected Ent
ities in Sri Lanka" survey for 2013 for the eighth time since the inception of t
he survey in 2005, topped the list of LMD 100 the nation's premier rankings of l
isted companies and also topped the list of Business Today Magazine's list of Sr
i Lanka's Top 25 Companies in Sri Lanka.
Chairman Mr. Susantha Ratnayake was recognised as LMD's Sri Lankan of the Year f

or 2013.
JKH was adjudged the winner of the Silver Award in the "Overall Excellence in Fi
nancial Reporting" category in the 49th Annual Report Awards competition organis
ed by the Institute of Chartered Accountants of Sri Lanka and won the "Overall S
ustainability Reporting Award" at the 10th Annual ACCA Sri Lanka Sustainability
Reporting Awards 2014.