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Power House Limited

Established in 2008, Power House Limited is a growing media company that owns the Derana Group of companies through Derana Macro Entertainment (Pvt) Limited. Presently, FM Derana, Derana TV, Ada Derana (online) and Ada Derana 24/7 (TV) are owned by Power House Limited. Dilith Jayaweera and Varuni Amunugama Fernando are the majority shareholders; they jointly own 49.41 percent of shares in addition to 9 percent of individual shares at Power House Limited. As per the national survey conducted by the Kantar Lanka Market Research Bureau (LMRB) for the year 2017, Derana TV and FM Derana have the highest viewership and listenership respectively.

Key facts

Mother Company

Power House Limited

Business Form

Private

Legal Form

Private Limited Company

Business Sectors

Television and Radio Broadcasting, Advertising, Photography Studios, Pre Press Service, Printing, Public Relations, Annual Report Design and Production, Event Management, Digital Advertising Agency and Online Marketing, Below The Line Services, Audio Visual Production, Tourism

Ownership

Dilith Jayaweera and Varuni Amunugama Fernando

Dilith Jayaweera and Varuni Amunugama Fernando jointly own 49.41 percent of shares at Power House, in addition to the 9 percent (each) they own separately.

49.4%
Media Outlets
Other Media Outlets

Other TV Outlets

Ada Derana 24/7 (0.3%)

Other Online Outlets

Facts

Business

Advertising

Triad (Pvt) Limited

Photography Studio

Taprobane Street (Pvt) Limited

Graphic Design

Imageline (Pvt Limited

Deseign and Printing

Emagewise (Pvt) Limited

Printing

Printage (Pvt) Limited

Public Relations

HardTalk (Pvt) Limited

Event Management

Ad Pack (Pvt) Limited

Digital Advertising Agency and Online Marketing

Triad Digital (Pvt) Ltd

Branding Services

Hammer BTL (Pvt) Limited

Audio Visual Productions

35 KM (Pvt) Ltd

Tourism

Citrus Leisure PLC

General Information

Founding Year

2003

Affiliated Interests Founder

Well-known entrepreneur Dilith Jayaweera and the daughter of Minister of Science, Technology, Research, Skills Development and Vocational Training and Kandyan Heritage Sarath Amunugama, Varuni Amunugama Fernando, co-founded Power House Limited, which owns Derana Macro Entertainment (Pvt) Limited. Presently, Derana Macro Entertainment (Pvt) Limited maintains Derana TV and FM Derana. Dilith and Varuni initially began their commercial ventures with an advertising agency, Triad (Pvt) Limited, while they were law students. Established in 1993, the agency was modelled as the country’s first local advertising house. In 2005, the agency gained prominence for running the advertising campaign of former President Mahinda Rajapaksa’s candidacy for the presidential election. Having established Triad (Pvt) Limited, Dilith and Varuni ventured into several other media-related businesses such as Power House Limited, formerly Power House (Pvt) Limited, which was incorporated in 2003, and Derana Macro Entertainment (Pvt) Limited, which was incorporated in 2008.

Jayaweera was named Director of the Reefcomber in August 2010 after one of his subsidiary companies, Emagewise, purchased significant shares of the hotel. In October 2010, the Reefcomber was re-branded as Citrus Leisure PLC and currently has hotels at three locations – Hikkaduwa, Waskaduwa and Colombo. Jayaweera remains a Director at Citrus Leisure PLC today. In 2011, Jayaweera and another prominent businessman, Nimal Perera, were appointed to the board of directors after securing around 43 percent of shares at the George Steuart and Company Limited. Sitting as either Chairperson or on the board of directors, Jayaweera is currently the Chairperson of the George Steuart Group as well. This includes a finance company – George Steuart Finance Limited.

In 2015, the Colombo Magistrate Court approved an investigation into the financial transactions of Dilith Jayaweera, Nalaka Godahewa, Varuni Amunugama Fernando and Sarvajana Anandaraj Ameresekere over the alleged irregularities in the share transactions of Lanka Hospitals. After such claims emerged, Jayaweera had reportedly warned to sue the brother of the incumbent Prime Minister and the Chairperson of Telshan Networks (Pvt) Limited, Shan Wickremesinghe. This was owing to allegations that Wickremesinghe’s channel, TNL, had telecasted views against Jayaweera. The lawsuit was dropped after Wickremesinghe had reportedly issued an apology. Wickremesinghe’s daughter Ishini was also closely linked to the operations of Jayaweera’s Triad (Pvt) Limited previously. In the same year, Jayaweera's lawyers had reportedly warned to take legal action against the Chairperson of The Capital Maharaja Organisation Limited, R. Rajamahendran. A legal suit was to be filed claiming compensation of LKR 2 million (around USD 12,500) for defamatory statements allegedly aired on Rajamahendran's channel, Sirasa TV. However, Rajamahendran’s lawyers had also reportedly warned to counter-sue Jayaweera for LKR 20 billion (around USD 125 million) if Jayaweera proceeded with the suit.

Employees

Missing Data

Contact

No. 320, 'Deutche House', T.B. Jaya Mawatha, Level 4, Colombo 10

Tel: +945300800, +945300700

Fax: +942506226

Website:www.derana.lk

Tax/ ID Number

PB1399

Financial Information

Revenue (Financial Data/ Optional)

Missing Data

Operating Profit (in Mill. $)

Missing Data

Advertising (in % of total funding)

Missing Data

Management

Executive Board

Dilith Jayaweera – Co-founder and Shareholder of Power House Limited.

Further Information

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

2 ♥

Meta Data

Power House Limited does not have a website and the official website of the outlets relevant to the Derana Group of companies do not provide adequate information. As such, information was gathered through publicly available secondary sources. However, information on Power House Limited was relatively scarce in these respective sources. Meanwhile, information on the co-founders, Dilith Jayaweera and Varuni Amunugama Fernando, was easily accessible. Information regarding ownership was gathered from the annual returns available at the Department of Registrar of Companies. The most recent data was available for the year 2015. While the Media Ownership Monitor research team reached out to Power House Limited by formally requesting for the company’s information on 20 July 2018, the company did not respond to the aforementioned request. Viewership data was obtained from the Kantar Lanka Market Research Bureau (LMRB) for the year 2017, while listenership data was gathered for the period of January- November 2017.

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