This is an automatically generated PDF version of the online resource sri-lanka.mom-rsf.org/en/ retrieved on 2019/12/07 at 00:50
Reporters Without Borders (RSF) & Verité Research - all rights reserved, published under Creative Commons Attribution-NoDerivatives 4.0 International License.
Verité Research LOGO
Reporters without borders

Selvanathan Family

Selvanathan Family

The Selvanathan family (brothers Hariharan Selvanathan and Manoharan Selvanathan) own shares at Express Newspapers (Ceylon) (Pvt) Limited through several companies that are listed as direct shareholding companies. The five companies that are listed as shareholders of Express Newspapers (Ceylon) (Pvt) Limited are: Ceylon Finance and Securities Limited, Fulcrum Limited, Tower Investments (Pvt) Limited, Natwest Nominees (Pvt) Limited and Wardley Investments (Pvt) Limited.

Hariharan Selvanathan and Manoharan Selvanathan jointly own and manage Carson Cumberbatch PLC. According to Forbes Asia, Hariharan and Manoharan are listed among the four wealthiest individuals in Sri Lanka. Hariharan Selvanathan is the Chairperson of Bukit Darah PLC, Carson Cumberbatch PLC, Carsons Management Services (Pvt) Limited and Agro Harapan Lestari (Pvt) Limited. In addition, he serves as the Deputy Chairperson of Goodhope Asia Holdings Limited. He also holds Directorships in several subsidiary companies within the Carsons Group and serves as a Director of Sri Krishna Corporation (Pvt) Limited and Express Newspapers (Ceylon) (Pvt) Limited. Hariharan Selvanathan has also served as a Past President of the National Chamber of Commerce and Past Vice Chairperson of the International Chamber of Commerce.

Manoharan Selvanathan is the Chairperson of Sri Krishna Corporation (Pvt) Limited, Ceylon Finance and Securities Limited and Selinsing PLC. He is also a Group Director at many companies in the Carson Cumberbatch Group in Sri Lanka, Indonesia, Malaysia and Singapore and is an active Member of its Executive Management Forums. He is also the Deputy Chairperson of Ceybank Asset Management Ltd. Previously, Manoharan has served as the Chairperson of the Ceylon Chamber of Commerce and The Indo Lanka Chamber of Commerce and Industry. Additionally, he served as the President of the Rotary Club of Colombo North. At present, he is the Honorary Consul of the Republic of Chile in Sri Lanka.

In recognition of the services rendered to Sri Lanka, Manoharan was awarded the title "Deshamanya" in 2005 by the Government of Sri Lanka. In 2011, he was awarded the "Pravasi Bharatiya Samma Award" by the President of India for fostering the Indian Sri Lankan relations. In addition, the Government of Chile in the year 2013 conferred the Presidential Honour of “Order of Knight Commander” on him.

In relation to the companies through which Hariharan and Manoharan own shares at Express Newspapers (Ceylon) (Pvt) Limited, Fulcrum Limited emerges as one such company. Formerly known as The Jake Organisation (Pvt), Fulcrum Limited was bought by Manoharan Selvanathan and Hariharan Selvanathan in 1988. Currently, Fulcrum Limited is owned by Goodhope Holdings Limited, Skan Investments (Pvt) Limited, Woodward Pte. Limited, Goodhope Pte. Limited and Hariharan Selvanathan. In addition, Hariharan Selvanathan, his daughter Shrada Selvanathan, his son Satish Selvanathan and Hariharan’s brother Manoharan Selvanathan, serve as Directors of the company.

Natwest Nominees (Pvt) Limited is owned by the Selvanathan family and Sashilekah Ramiah Nataraj. Manoharan Selvanathan, Hariharan Selvanathan, and Kanapathy Selvanathan have direct shares in the company. Sashilekah Ramiah Nataraj has a combined share with the two Selvanathan brothers. She is married to Ramiah Nataraj. According to the Carson Cumberbatch PLC Annual Report for 2016/2017, both Sashilekah and Ramiah are shareholders of the company.

Similar to Natwest Nominees (Pvt) Limited, Wardley Investments (Pvt) Limited started as a company with the Selvanathan’s owning the majority of shares. However, Sashilekah Ramiah Nataraj and her son Vikram Nataraj currently own all shares in the company.

In addition to these companies, Ceylon Finance and Securities Limited and Tower Investments (Pvt) Limited also hold shares at Carson Cumberbatch PLC, where Hariharan and Manoharan serve as the majority shareholders.

Media Companies / Groups
Media Outlets
Facts

Business

Plantations, Oils & Fats

Goodhope Holdings Limited

Portfolio and Asset Management

Ceylon Guardian Investment Trust PLC

Beverage

Ceylon Beverage Holdings PLC

Real Estate

Carson Cumberbatch PLC

Leisure

Pegasus Hotels of Ceylon PLC

Management Services

Carsons Management Services (Pvt) Limited

Uknown

Fulcrum Limited

Family & Friends

Affiliated Interests Family Members Friends

Hariharan Selvanathan – is the Chairperson of Bukit Darah PLC, Carson Cumberbatch PLC, Carsons Management Services (Private) Limited and Agro Harapan Lestari (Pvt) Limited. In addition, he serves as the Deputy Chairperson of Goodhope Asia Holdings Limited. He holds Directorships in several subsidiary companies within the Carsons Group and also serves as a Director of Sri Krishna Corporation (Pvt) Limited and Express Newspapers (Ceylon) (Pvt) Limited. Hariharan Selvanathan has also served as a former President of the National Chamber of Commerce and Vice Chairperson of the International Chamber of Commerce.

Further Information

Passive Transparency

upon request, ownership data is easily available from the company/channel

3 ♥

Meta Data

The Express Newspapers (Ceylon) (Pvt) Limited website and Virakesari newspaper's website do not provide any information regarding the ownership structure of Express Newspapers (Ceylon) (Pvt) Limited. As such, in order to obtain information about the channels and the company, secondary sources are required. Information on the company’s shareholders was gathered through the annual returns available at the Department of Registrar of Companies. The most recent data was available for the year 2017. Information on the individuals was collected through other companies that are directly related to the Selvanathan family. Annual reports and the website of Carson Cumberbatch PLC and its companies were utilised to gather information on the Selvanathan brothers. While the Media Ownership Monitor research team reached out to Express Newspapers (Ceylon) (Pvt) Limited by formally requesting for the company’s information on 20 July 2018, the company responded to the aforementioned request on 20 August 2018.

  • Project by
    Verité Research
  •  
    Reporters without borders
  • Funded by
    BMZ