Shree FM
Shree FM is a Sinhala language radio station that was founded in 1999 under the Edirisinghe Broadcasting Company Limited. It began transmission in 2000. The company also owns the Sinhala language TV channel, Swarnavahini. As per the company’s annual returns for the year 2018 at the Department of Registrar of Companies, 59.99 percent of the company’s shares are owned by Ben Holdings (Pvt) Limited, while 39.99 percent of shares are owned by a Singaporean-based company, Blue Summit Capital Management Pte. Limited. Alexis Indrajit Lovell is the sole shareholder of Ben Holdings (Pvt) Limited, whereas Blue Summit Capital Management Pte. Limited is owned by Portugal-based Pettigo Commercio Internacional LDA, owner of the trademarks of Lycamobile, Lyca and Lycafly. The company is affiliated with Allirajah Subaskaran, the owner of Lycamobile, which is an international mobile network operator based in London.
It is possible that Ranawaka Arachchilage Michael Anthony De Alwis and Edinadura Wipula Soysa still own one share each while ETI Finance Limited may own two shares. The company has not filed an annual return since these share transfers took place in order to determine the present structure of ownership.
Audience Share
5.99%
Ownership Type
Private
Geographic Coverage
National
Content Type
Free to air
Media Companies / Groups
EAP Broadcasting Company Limited
Ownership Structure
Shree FM is managed by EAP Broadcasting Company Limited, where ETI Finance Limited used to have majority shares until 2017. In March 2018, 39.99% of shares that were held by ETI Finance Limited, were sold to a Singapore-based wealth management company, Blue Summit Capital Management Pte. Limited. Meanwhile, 59.99% shares of EAP Broadcasting Company Limited were sold to Ben Holdings (Pvt) Limited, a company which is based in Sri Lanka. Alexis Indrajit Lovell is the sole shareholder of Ben Holdings (Pvt) Limited, whereas Blue Summit Capital Management Pte. Limited is owned by the Portugal-based company, Pettigo Commercio Internacional LDA. This Portuguese company owns the trademarks of Lycamobile, Lyca and Lycafly. The company is affiliated with Allirajah Subaskaran, the owner of Lycamobile, which an international mobile network operator based in London. It is uncertain as to whether ETI Finance Limited holds 2 shares and Ranawaka Arachchcige Michael Anthony De Alwis and Edinadura Wipula De Soysa own one share each, as an annual return has not been filed since the transfer of shares.
Voting Rights
Missing Data
Individual Owner
General Information
Founding Year
1999
Affiliated Interests Founder
EAP Broadcasting Company Limited, which operates the Swarnavahini TV channel, was started by the Edirisinghe family. Founded by E.A.P. Edirisinghe in the 1930s, EAP Holdings Limited (the parent company of EAP Broadcasting), initially began in the pawning industry. Thereinafter, the business branched into several sectors such as: two finance companies – Saravana Finance and Edirisinghe Trust Investments (ETI) Limited, broadcasting, hospitality, jewellery, and theatres. After E.A.P. Edirisinghe passed away in 1974, his wife Soma Edirisinghe took over the company, which consisted of 25 subsidiary companies and spanned over diverse industries. She was the first female District Governor of the Lions Club (2003 – 2004) and is widely known for her philanthropic initiatives such as establishing the charity organisation, Janasara Foundation. After Soma passed away in 2015, her children – Jeewaka, Nalaka, Asanka and Deepa Edirisinghe – took-over the business.
Affiliated Interests Ceo
As per the annual returns available for the year 2018 at the Department of Registrar of Companies, the CEO is listed as a Malaysian-based individual, Thomas Mathew.
Affiliated Interests Editor-In-Chief
Missing Data
Affiliated Interests other important people
Asanka Srimal Edirisinghe – the son of the founder of EAP Holdings and an Executive Director at Swarnamahal Financial Services PLC. He also serves as a Director in over 15 companies, many of which are affiliated with the EAP Group of companies. In July 2018, it was reported that Asanka Srimal Edirisinghe, along with three other Directors from the EAP Group, had been issued a travel ban by the Colombo Fort Magistrate, Lanka Jayaratne. On 10 July 2018, the Central Bank of Sri Lanka issued a public notice requesting for information on assets and properties held by the aforementioned Directors. As per the data available at the Department of Registrar of Companies for May 2018, he is listed as a Director of EAP Broadcasting Company Limited.
Anjali Deepa Edirisinghe – is the daughter of the late Soma Edirisinghe, who was the wife of the founder of EAP Holdings and previously managed the EAP Group of companies. Deepa serves as a Director for many of the same companies as Asanka Srimal Edirisinghe. In 2017, Deepa announced that she would contest in the Local Government Election through the Sri Lanka Freedom Party (SLFP). She was also reportedly appointed by President Maithripala Sirisena as the Colombo District Organiser for the SLFP. Akin to Asanka Srimal Edirisinghe, Deepa was also issued a travel ban. Additionally, the Central Bank of Sri Lanka included her name in the list of Directors the bank was monitoring with regards to ownership of properties and assets. As per the data available at the Department of Registrar of Companies, she is listed as a Director for EAP Broadcasting Company Limited.
Omar Siraj Qandeel – reportedly serves on the Board of Switzerland-based BlueOrchard, which is a leading impact investment manager worldwide and especially focuses on inclusive finance such as microfinance. As per the data available at the Department of Registrar of Companies for May 2018, he is listed as a Director.
Don Cyril Rodrigo – Don Cyril Rodrigo, also known as Cyril Rodrigo, is the founder and CEO of S-Net Freight (Holdings) Pte. Limited, which is a Singapore-based freight company. He has previously held the positions of Cargo Marketing Manager for Cathy Pacific, Marketing Manager for AEI and Asia Pacific Vice President for Emery Worldwide. As per the data available at the Department of Registrar of Companies for May 2018, he is listed as a Director.
Paul Xavier Kelly – As per the data available at the Department of Registrar of Companies for May 2018, he is listed as the Investments Manager.
Contact
EAP Broadcasting Company Limited
No.676 A2, Galle Road, Colombo 3
Tel: +947 534 534
Website: www.eapholdings.lk
Financial Information
Revenue (in Mill. $)
Missing Data
Operating Profit (in Mill. $)
Missing Data
Advertising (in % of total funding)
Missing Data
Market Share
Missing Data
Further Information
Meta Data
The official website of EAP Holdings has been under construction for over two months, making the information on the company’s present ownership difficult to obtain. As such, the MOM research term referenced several newspaper reports in addition to gathering shareholder details through the annual returns available at the Department of Registrar of Companies. The most recent data was available for the year 2017. However, documents on the transfer of shares was for the year 2018. As mentioned in Shree FM’s profile note, an annual return has not been filed by EAP Broadcasting Company Limited since the transfer of shares to Blue Summit Capital Pte. Limited and Ben Holdings (Pvt) Limited. Blue Summit Capital Pte. Limited also does not have an official website. Information on Blue Summit Capital Pte. Limited was obtained from the Singapore Registrar of Companies and the Portuguese Companies Registrar. Listenership data was obtained from the Kantar Lanka Market Research Bureau (LMRB) for the year 2017 (January- November). While the Media Ownership Monitor research team reached out to EAP Broadcasting Company Limited by formally requesting for the company’s information on 25 July 2018, the company did not respond to the aforementioned request.
