Carson Cumberbatch

The company has its origin in the colonial era, having founded by merging two companies founded by R. B. Carson and Henry Cumberbatch (nephew of Robert William Cumberbatch).{{cite news |last1=Moonesinghe |first1=Vinod |title=The Sabonadiére Heritage |url=https://www.echelon.lk/the-sabonadiere-heritage/ |access-date=23 March 2021 |work=Echelon Magazine |date=11 April 2016}} The rubber interest of the Carson and Company traded in 1910 in London Stock Exchange with a capital of 1.5 million sterling pounds thus making it the largest rubber business of the country at that time.{{cite web |title=Our History |url=http://www.carsoncumberbatch.com/about_us/our_history.php |website=carsoncumberbatch.com |publisher=Carson Cumberbatch |access-date=23 March 2021}} The Carson and Company converted to a limited liability company in 1913, and the merger with Cumberbatch and Company happened in 1947.{{cite book |last1=Abeysekera |first1=Indra |title=Intellectual Capital Accounting: Practices in a Developing Country |date=20 December 2007 |publisher=Routledge |isbn=978-1-134-07361-0 |page=71 |url=https://books.google.com/books?id=S4d9AgAAQBAJ |access-date=31 October 2023 |language=en}} In 1976, the company diversified into hotels by building the Giritale Hotel and Moonlight Beach Hotel and taking over the management of Pegasus Reef Hotel. In 1988, Sri Krishna Corporation Limited, a 75 years old company, acquired a controlling interest in Carson Cumberbatch. In 1995, Carson expanded its palm oil interest into Indonesia, and in 1997 a new brewery in Biyagama was commissioned.

In 2006, through Agro Bukit, the company acquired a new plantation of {{convert|20000|ha|acre}} in Kalimantan, Indonesia. Goodhope Asia Holdings was incorporated in 2008 in Singapore to consolidate the company's plantation sector, and in 2014 the company acquired the Millers Brewery. In September 2020, Ceylon Guardian Investment Trust PLC, the investment managing subsidiary of Carson Cumberbatch entered into an agreement with Singapore-based Gazelle Asset Management to sell 84% of the stake of Guardian Capital Partners PLC.{{cite news |title=Carson Cumberbatch Group enters deal to sell private equity investment arm |url=http://www.dailymirror.lk/business-news/Carson-Cumberbatch-Group-enters-deal-to-sell-private-equity-investment-arm/273-196522 |access-date=23 March 2021 |work=dailymirror.lk |publisher=Wijeya Newspapers |date=24 September 2020}} When that agreement did not realise, Carson Cumberbatch, sold a 75.6% stake of Guardian Capital Partners PLC to a Renuka Holdings-led consortium for LKR636 million in October 2021.{{cite news |title=Renuka Holdings buys control of Carson’s Guardian Capital for Rs. 636 m |url=https://www.ft.lk/front-page/Renuka-Holdings-buys-control-of-Carson-s-Guardian-Capital-for-Rs-636-m/44-725084 |access-date=15 January 2023 |work=Daily FT |publisher=Wijeya Newspapers |date=29 October 2021}}

Bukit Darah PLC, a member of Carsons Group, is the largest shareholder of the company while the Selvanathan family, founders of the Sri Krishna Corporation, is the ultimate controlling shareholder.{{cite news |title=Carson’s ensure no job losses or pay cuts despite crippling blows to business |url=https://island.lk/carsons-ensure-no-job-losses-or-pay-cuts-despite-crippling-blows-to-business/ |access-date=23 March 2021 |work=island.lk |publisher=Upali Newspapers |date=6 September 2020}} In turn, Carson Cumberbatch owns a 6.15% of shares of Bukit Darah PLC in a circular ownership scenario.{{cite book |last1=Perera |first1=Shalini |title=Corporate Ownership And Control: Corporate Governance And Economic Development In Sri Lanka |date=2010 |publisher=World Scientific |isbn=978-981-4469-08-1 |page=98 |url=https://books.google.com/books?id=9e3FCgAAQBAJ |access-date=31 October 2023 |language=en}}{{cite web |title=Annual Report 2019/20 |url=https://cdn.cse.lk/cmt/upload_report_file/456_1598433179546.pdf |website=cse.lk |publisher=Bukit Darah |access-date=23 March 2021 |page=69 |date=2020}} The company holds ten quoted companies including Pegasus Hotels of Ceylon, Good Hope PLC, Ceylon Beverage Holdings, and Lion Brewery (Ceylon) and many unquoted companies including Millers Brewery, Agro Bukit, and Pubs 'N Places (Private) Ltd.

Source: Annual Report, 2022/23

The company engaged in businesses in oil palm plantations, beverage, portfolio and asset management, real estate, and leisure sectors and operates in Sri Lanka, Indonesia, Malaysia and India.{{cite web |title=Carson Cumberbatch PLC |url=https://markets.ft.com/data/equities/tearsheet/profile?s=CARS.N0000:CSE |website=ft.com |publisher=Financial Times |access-date=23 March 2021}} During the COVID-19 pandemic, the company provided LKR20 million worth of equipment for enhancing PCR testing capabilities to the Ministry of Health.{{cite news |title=Carson Cumberbatch supports fight against COVID-19 |url=http://www.ft.lk/business/Carson-Cumberbatch-supports-fight-against-COVID-19/34-701880 |access-date=23 March 2021 |work=ft.lk |publisher=Wijeya Newspapers |date=19 June 2020}} In the year ended on 31 March 2020, the Carson Cumberbatch group incurred a collective loss of LKR 2.65 billion and despite the losses, none of the employees lost jobs or had to take pay cuts.

• List of companies listed on the Colombo Stock Exchange
• List of Sri Lankan public corporations by market capitalisation

{{Reflist}}

• [http://www.carsoncumberbatch.com/ Official website]

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{{Palm oil}}

Category:1913 establishments in Ceylon

Category:Companies listed on the Colombo Stock Exchange

Category:Conglomerate companies of Sri Lanka

Category:Holding companies of Sri Lanka

Category:Companies established in 1913