Sierra Cables expands to Maldives

From left: Panduka Weerasingha – Executive Director Sierra Cables PLC/Chief Executive Officer Browns Investments PLC, Shamendra Panditha – Executive Director Sierra Cables PLC, Sunjeevani Kotakadeniya – Non-Executive Director Sierra Cables PLC/Group Chief Financial Officer LOLC Holdings PLC, Harsha Jayatunga – Chief Executive Officer Sierra Cables PLC, Zain Hassan – Managing Director ASK Holdings Pvt Ltd, Maldives, Asim Mohammed – Senior Executive ASK Holdings Pvt Ltd, Maldives, Wasantha Batagoda – Chief Legal Officer LOLC Group and Nadeesha Koggalahewa – Manager Legal LOLC Group.

Sierra Cables PLC recently entered into a strategic partnership with ASK Holdings, a key supplier of hardware, construction and electrical engineering products and services in the Maldives.
The new collaboration between the two will further enhance the distribution, availability of high-quality products and market presence of Sierra Cables in Maldives while contributing to the ongoing development and growth of the region’s infrastructure in keeping with the company’s growing global footprint. 

Sierra Cables currently fulfils orders from Sri Lanka for client projects and retail stockists in the Maldives. With this, the company has recognised the need for an improved and structured approach in order to maximise its sales presence in the Maldivian market and the collaboration with ASK Holdings is a significant step in strengthening Sierra Cables’ overseas marketing strategy. 

With its network of showrooms across the Maldives, ASK Holdings has and continues to be a vital contributor towards Sierra Cables’ sales. In addition, Brown & Company PLC, one of Sri Lanka’s most diversified and leading conglomerates, of which Sierra Cables is a subsidiary under Browns Investments, the investment arm of the LOLC Group, plans to explore future collaboration opportunities with ASK Holdings. 

The agreement between Sierra Cables PLC and ASK Holdings Private Limited was signed on the 28th of May by Sunjeevani Kotakadeniya, Non-Executive Director Sierra Cables PLC/Group Chief Financial Officer LOLC Holdings and Zain Hassan, Managing Director ASK Holdings Private Limited, to establish a joint venture named, Browns Electric Company (Pvt) Ltd. The new entity will synergise the strengths of both in order to solidify its presence further in the Maldivian market and beyond.