The visit of Ratan Tata, the Chairman of the TATA Group to Sri
Lanka in 2002, seeking further opportunities with regards to business,
identified Sri Lanka as a market with great potential in terms of
the telecommunication industry. As a result of this VLL was incorporated
in June 12, 2003, as a public limited company incorporated under
the companies act (No 17 of 1982) of Sri Lanka.
Speaking on the acquisition, V Govindasamy, Group
Managing Director of Sunshine Holdings Limited said "Due to
our relationship with the TATA Group, I was appointed to the board
of VLL and we started to work together. There was an understanding
that the Sunshine Holdings Group will have a stake in the VSNL company. It
is in that spirit that VSNL has now offered us this opportunity
to enter into the telecommunication business. We are in the business
of creating value addition to our shareholders. Telecommunications,
namely the long distance telecommunication business by far is one
of the best investment opportunities in Sri Lanka. It is also the
backbone of a developing nation. For Sri Lanka to move forward,
this industry is one of the most integral parts of its future development."
"We are very proud to be associated with the
VSNL Company and the TATA Group and the Group of TATA's strengthens
our relationship further with them. By doing this we will add value
to the shareholders of Sunshine Holding, being in one of the thrust
industries not only in Sri Lanka but globally", he added further.
"Although, VSNL has been in existence for
the past 140 years, Sri Lanka was a new territory for us, when we
entered into this market in 2003. We are very appreciative of the
support we have received from Sunshine Holdings Limited. This also
reaffirms the relationship Sunshine Holdings Limited has with the
TATA Group. VLL has been actively catering to the international
communication requirements of Sri Lanka by providing cutting edge
technology blended with responsive customer care", CEO-VLL,
V. Ravi Sankar said.
The mission of VLL is to make its global and seamless
architecture of information superhighways be available in Sri Lanka
to connect the people and data networks efficiently for their requirements
across the globe.
VLL strives to be the preferred partner to customers
by providing appropriate and optimum communication solutions. The
corporate philosophy of 'No compromise on quality' will be the guiding
motive for services offered to customers in Sri Lanka. It operates
in three market segments with products tailored to meet the specific
needs of the individual segments, mainly concentrating on the business
efforts of the wholesale voice and corporate data market. The products
and services offered are international voice and international IP
bandwidth, enterprise solutions such as international private lease
circuit and MPLS based global VPN services and retail products such
as their global calling cards.
Sunshine Holdings Limited is a diversified conglomerate
with over 15,000 employees and strategic business holdings in tea,
packaging, plantations, health care and tourism is at present a
goldmine of investment due to the many innovations taking place
in the various sectors of the company.
Its flagship company, Watawala Plantations Limited
(WPL) is a marketing oriented company, which has developed its own
brands. Its premium brand Zesta produces the finest quality blends
of tea and continues to win the trust and confidence of consumers.
Watawala Kahata is the company's most popular brand of tea. The
brands have gained a 25 per cent share of the market within a short
span of six years.
During the past year, Sunshine Holdings was ranked
35th among the LMD top 50 companies of Sri Lanka, heralding its
place among the top tier of publicly listed companies.