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Asia Broadcasting Corporation (Pvt) Limited

Asia Broadcasting Corporation (Pvt) Limited

Asia Broadcasting Corporation (Pvt) Limited (ABC) was established in Sri Lanka in the 1990s by the UK-based Sunrise Radio Group. It is presently listed as a subsidiary under Rayynor Silva Holdings (Pvt) Limited, which is owned by Rayynor Silva. Five radio stations are under the purview of ABC: Hiru FM, Shaa FM, Gold FM, Sun FM and Sooriyan FM. ABC also oversees an HD ready/ digital ready TV channel, Hiru TV.

In 2007, the Sri Lankan government suspended ABC’s radio broadcasting licenses on two objections: firstly, that although ABC’s licenses were issues on 17 November 1995, the company had only been incorporated on November 27; secondly, that ABC had broadcasted an erroneous report during the country’s armed conflict. Despite ABC having issued an apology and attempting to rectify the erroneous report, the government proceeded with the suspension on the grounds that it was reportedly a “gross violation of the freedom of expression”. Moreover, the Supreme Court dismissed ABC’s fundamental rights petition and ordered Chairperson Rayynor Silva to pay a Rs. 250,000 (2,259.99 USD) cash bail for submitting a false affidavit to the Supreme Court which had reportedly suppressed the initial erroneous news content ABC had broadcasted. Several media-related groups such as Reporters Without Borders (RSF) and the Free Media Movement (FMM) however widely condemned the suspension.

Key facts

Mother Company

Rayynor Silva Holdings (Pvt) Limited

Business Form

Private

Legal Form

Private Limited Company

Business Sectors

Radio and Television Broadcasting

Ownership

Individual Owner

Media Outlets
Other Media Outlets
Facts

Business

Real estate

Skyline Pacific Real Estate (Pvt) Limited

Fashion

White Lotus Fashions (Pvt) Limited

Other

Mediacorp Investments (Pvt) Limited

General Information

Founding Year

1995

Affiliated Interests Founder

Asia Broadcasting Corporation (Pvt) Limited was initially founded by the Sunrise Radio Group in the 1990s. It was later owned by Rayynor Silva, who is a well-known businessman in the broadcasting field of Sri Lanka and the present Chairperson of the company. The company remains one of the largest radio networks in the country. Rayynor’s brother Vincent Silva serves as the current CEO of Asia Broadcasting Corporation (Pvt) Limited. Meanwhile, former Member of Parliament Duminda Silva is also Rayynor Silva’s brother. On 11 October 2018 the Supreme Court dismissed the appeal filed by Duminda Silva for the murder of former Member of Parliament, Bharatha Lakshman Premachandra.

Employees

Missing Data

Contact

Asia Broadcasting Corporation (Pvt) Limited

35th Floor, East Tower, World Trade Center, Colombo 1

Tel: +94 11 2 337 555

Fax: (+94) 112 346 870

E-mail: md@asiabroadcasting.lk

Website: www.asiabroadcasting.lk

Tax/ ID Number

PV16452

Financial Information

Revenue (Financial Data/ Optional)

Missing Data

Operating Profit (in Mill. $)

Missing Data

Advertising (in % of total funding)

Missing Data

Management

Executive Board

Samantha Rayynor Silva – Owner of Asia Broadcasting Corporation (Pvt) Limited.

Other Influential People

Prasad Karunarathne is the General Manager of Asia Broadcasting Corporation (Pvt) Limited.

Further Information

Meta Data

Information on Asia Broadcasting Corporation (Pvt) Limited (ABC) was obtained through the official website of the company as well as secondary sources. Information on the Chairperson Rayynor Silva was also available on the official website of Rayynor Silva Holdings (Pvt) Limited. Details about the ownership structure and board of directors was gathered through the annual returns available at the Department of Registrar of Companies. The designations of the key individuals at Sooriyan FM were confirmed upon contacting the station directly and also speaking with the Director of Programming. While the Media Ownership Monitor research team reached out to Asia Broadcasting Corporation (Pvt) Limited by formally requesting for the company’s information on 20 July 2018, the company did not respond to the aforementioned request. The Central Bank’s average exchange rate for 2007 (110.62) was used to convert the amounts into USD. 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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