Ambeon Holdings
A Sri Lankan listed conglomerate holding company with roots in a nineteenth-century plantation-supply business and a portfolio spanning manufacturing, information technology, property, and other investments.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Ambeon Holdings PLC is a Sri Lankan conglomerate holding company whose corporate history reaches back to Walker and Greig, a business established by Scottish engineer John Walker in 1874 to supply agricultural machinery and related equipment to plantations in the central highlands. The enterprise developed from regional trading outlets in Badulla and Haldummulla, later adding a premises in Haputale as the area grew in commercial importance. Its headquarters eventually moved to Colombo, where the business operated from a substantial site in Slave Island. Walker and Greig was incorporated as a limited liability company in 1910. In 1959 it came under the ownership or control of Brown and Company, becoming part of the Browns Group. The company was later listed on the Colombo Stock Exchange on 1 January 1970, establishing a long-running public-market presence in Sri Lanka. A major transformation began in 2007, when UK-based Lionhart Investments Limited acquired the company from the Browns Group. The business was renamed Environmental Resources Investment PLC in 2008. Under the new ownership it pursued investment-led expansion, including the acquisition of an interest in Dankotuwa Porcelain in 2010 alongside Ceylon Leather Products. This period also generated substantial regulatory and political controversy. Sri Lanka's Securities and Exchange Commission investigated the company in connection with alleged stock-market manipulation and a transaction involving a platinum mine in South Africa held through a British Virgin Islands subsidiary. Although the mine was sold at a capital gain, the investigation continued. In 2013, parliamentarian Harsha de Silva alleged that Lionhart and its related parties had engaged in a pump-and-dump scheme. Company directors were also fined in connection with document falsification and non-disclosure allegations. The corporate identity changed again when Environmental Resources Investment was renamed Lanka Century Investments PLC in November 2013. In 2015, Taprobane Holdings PLC, a consortium associated with Navitas Holdings, the Galle Face Hotel Group, and the Hirdaramani Group, acquired control. The company subsequently broadened its portfolio. In 2017 it acquired MillenniumIT ESP from the London Stock Exchange Group, adding an information-technology and enterprise-solutions business to its investments. In June 2018, Lanka Century Investments adopted the name Ambeon Holdings PLC, while its parent company became Ambeon Capital PLC. The two entities are generally presented collectively as the Ambeon Group. Ambeon Holdings has operated as a diversified investment platform rather than as a single-product consumer brand. Its historical and reported portfolio has included porcelain, leather, textiles, information technology, food processing, property development, and holding-company investments. Notable subsidiaries or associated businesses have included Dankotuwa Porcelain, Royal Fernwood Porcelain, Ceylon Leather Products, MillenniumIT ESP, Harischandra Mills, Myland Developments, and Colombo City Holdings. Several of these holdings were later disposed of: South Asia Textiles was sold to Hayleys Fabric in 2021, Ceylon Leather Products was disposed of in June 2023, and Dankotuwa Porcelain and Royal Fernwood Porcelain were disposed of in July 2023. The company is recognized in Sri Lankan corporate rankings, including the LMD 100, which ranks listed companies by revenue. Its parent and operating company have appeared separately in that ranking. Ambeon Holdings has also been described as one of Sri Lanka's larger conglomerates by brand value. Its current identity is therefore best understood as that of a listed Sri Lankan investment and holding company whose portfolio has evolved through ownership changes, acquisitions, disposals, and periodic restructuring.
History
Ambeon Holdings traces its origins to Walker and Greig, founded by Scottish engineer John Walker in 1874. The original business supplied agricultural machinery and related equipment to plantations in Sri Lanka's hill country. It established operations in Badulla and Haldummulla, later moving into Haputale as that town became more commercially significant. Its principal office was eventually transferred to Colombo, where the company developed a large headquarters site in Slave Island. The enterprise was incorporated as a limited liability company in 1910. In 1959, Walker and Greig was brought under Brown and Company and thereby became associated with the Browns Group. The company entered the Colombo Stock Exchange on 1 January 1970, giving the historic trading business a continuing listed-company identity. A decisive ownership change occurred in 2007, when UK-based Lionhart Investments Limited acquired the company from Browns Group for a reported consideration. The company changed its name to Environmental Resources Investment PLC in 2008. During this period, it pursued investments outside its original agricultural-equipment roots. In 2010, Environmental Resources Investment and Ceylon Leather Products acquired Dankotuwa Porcelain. The expansion coincided with regulatory scrutiny over a South African platinum-mine transaction conducted through a British Virgin Islands subsidiary. The Securities and Exchange Commission opened an investigation into alleged stock manipulation. In 2013, parliamentarian Harsha de Silva made allegations in Parliament concerning a pump-and-dump scheme involving Lionhart and its parent. Directors were fined in connection with document falsification and non-disclosure matters. The company was renamed Lanka Century Investments PLC in November 2013. In 2015, Taprobane Holdings PLC, a consortium linked with Navitas Holdings, the Galle Face Hotel Group, and the Hirdaramani Group, acquired control. The new ownership period emphasized portfolio building and diversification. In 2017, Lanka Century Investments purchased MillenniumIT ESP from the London Stock Exchange Group, adding technology and enterprise-solutions capabilities to a portfolio that already included manufacturing and consumer-oriented businesses. In June 2018, Lanka Century Investments changed its name to Ambeon Holdings PLC. Its parent company became Ambeon Capital PLC, and the two companies were presented as part of the Ambeon Group. Under this structure, Ambeon Holdings functioned as a diversified listed investment company with interests in porcelain, leather, textiles, information technology, food processing, and property. Reported notable subsidiaries and investments included Ceylon Leather Products, Dankotuwa Porcelain, Royal Fernwood Porcelain, MillenniumIT ESP, Harischandra Mills, Myland Developments, and Colombo City Holdings. The portfolio was later reduced or reorganized through disposals. South Asia Textiles, acquired by Ambeon in 2011, was sold to Hayleys Fabric PLC in 2021. Ceylon Leather Products was disposed of in June 2023, followed by the disposal of Dankotuwa Porcelain and Royal Fernwood Porcelain in July 2023. These transactions illustrate the company's continuing use of acquisitions and divestments to adjust its investment portfolio. Ambeon Holdings has appeared in Sri Lankan corporate rankings, including the LMD 100. The company and its parent have been ranked separately in that publication. It has also been described as one of Sri Lanka's leading conglomerates by brand value. Its historical significance lies in the transformation of a nineteenth-century plantation-supply company into a listed, diversified holding group operating across several sectors.
- 2023
Leather and porcelain disposals
[1]Ceylon Leather Products was disposed of in June, followed by Dankotuwa Porcelain and Royal Fernwood Porcelain in July.
- 2021
South Asia Textiles disposal
[1]South Asia Textiles was sold to Hayleys Fabric PLC.
- 2018
Ambeon Holdings name adopted
[1]Lanka Century Investments became Ambeon Holdings PLC and its parent became Ambeon Capital PLC.
- 2017
MillenniumIT ESP acquisition
[1]Lanka Century Investments acquired MillenniumIT ESP from the London Stock Exchange Group.
- 2015
Taprobane Holdings takes control
[1]A Taprobane-linked consortium acquired control of the company.
- 2013
Renamed Lanka Century Investments
[1]The company changed its name to Lanka Century Investments PLC in November.
- 2010
Dankotuwa Porcelain investment
[1]Environmental Resources Investment and Ceylon Leather Products acquired Dankotuwa Porcelain.
- 2008
Renamed Environmental Resources Investment
[1]The company adopted the Environmental Resources Investment PLC name.
- 2007
Acquired by Lionhart Investments
[1]Lionhart Investments Limited acquired the company from Browns Group.
- 1970
Colombo Stock Exchange listing
[1]The company was listed on the Colombo Stock Exchange on 1 January.
Products and positioning
A diversified Sri Lankan listed conglomerate and investment platform rather than a single-category product brand.
Ceramics and tableware
Porcelain businesses
Ambeon's historical portfolio included Dankotuwa Porcelain and Royal Fernwood Porcelain, businesses associated with porcelain and ceramic manufacturing. These companies represented the group's move into branded and industrial manufacturing beyond its original investment-company and plantation-supply heritage. Both businesses were disposed of in July 2023 and should not automatically be treated as current Ambeon holdings.
Leather manufacturing
Ceylon Leather Products
Ceylon Leather Products was one of the manufacturing businesses associated with the Ambeon portfolio. It also participated with Environmental Resources Investment in the acquisition of Dankotuwa Porcelain in 2010. The business was later disposed of in June 2023.
Textile manufacturing · 2011
South Asia Textiles
South Asia Textiles was acquired by Ambeon in 2011 and formed part of the group's industrial portfolio. Its ownership ended when Ambeon Holdings sold the business to Hayleys Fabric PLC in 2021.
Information technology · 2017
MillenniumIT ESP
MillenniumIT ESP added information-technology and enterprise-solutions exposure to the group. Lanka Century Investments acquired it from the London Stock Exchange Group in 2017. The available reference material does not establish its present ownership status within Ambeon.
Food and consumer products
Harischandra Mills
Harischandra Mills has been identified among the notable businesses controlled or previously controlled by Ambeon Holdings. It represents the group's exposure to food processing and consumer products. The available reference material does not provide a detailed current product or ownership description.
Property and real estate
Property investments
Through businesses including Myland Developments and Colombo City Holdings, Ambeon's reported portfolio has included property development and real-estate investment. The reference material identifies these entities but does not provide enough detail to describe specific projects or establish their current ownership status.
Controversies
2013
Parliamentary stock-manipulation allegations and director fines
Harsha de Silva alleged in Parliament that Lionhart and its parent had engaged in market manipulation. Directors were fined in relation to document falsification and non-disclosure matters.
2010
Securities and Exchange Commission investigation
The Securities and Exchange Commission investigated Environmental Resources Investment in relation to alleged stock manipulation and a transaction involving the sale of a South African platinum mine held through a British Virgin Islands subsidiary.
Brand decisions
2023
Disposal of leather and porcelain businessesM&ABackground
The group continued reshaping its portfolio through exits from selected manufacturing businesses.
Action taken
Ceylon Leather Products was disposed of in June, followed by Dankotuwa Porcelain and Royal Fernwood Porcelain in July.
Aftermath
Ambeon's historical portfolio became less concentrated in leather and porcelain manufacturing, although the available material does not specify the resulting current portfolio in full.
2021
Disposal of South Asia TextilesM&ABackground
Ambeon reviewed its industrial portfolio after holding South Asia Textiles since 2011.
Action taken
South Asia Textiles was sold to Hayleys Fabric PLC.
Aftermath
The transaction reduced Ambeon's direct exposure to textile manufacturing.
2018
Ambeon rebranding and group restructuringStrategyBackground
The company and its parent were reorganized under a common Ambeon identity.
Action taken
Lanka Century Investments became Ambeon Holdings PLC, while the parent adopted the name Ambeon Capital PLC.
Aftermath
The two companies became associated with the Ambeon Group and the operating company continued as a diversified listed holding company.
2017
Acquisition of MillenniumIT ESPM&ABackground
Lanka Century Investments sought to broaden its holdings beyond manufacturing and traditional investment activities.
Action taken
The company acquired MillenniumIT ESP from the London Stock Exchange Group.
Aftermath
The transaction added technology and enterprise-solutions exposure to the group's portfolio.
2015
Control transferred to Taprobane HoldingsM&ABackground
A consortium associated with Navitas Holdings, the Galle Face Hotel Group, and the Hirdaramani Group pursued control of Lanka Century Investments.
Action taken
Taprobane Holdings PLC acquired control of the company.
Aftermath
The group expanded its portfolio, including the acquisition of MillenniumIT ESP in 2017 and the later rebranding as Ambeon Holdings.
2013
Renamed Lanka Century InvestmentsStrategyBackground
The company underwent another identity change after the period associated with Environmental Resources Investment.
Action taken
The company changed its name to Lanka Century Investments PLC in November 2013.
Aftermath
Taprobane Holdings later acquired control in 2015 and continued to develop the company as a diversified investment platform.
2008
Adopted the Environmental Resources Investment identityStrategyBackground
Following Lionhart Investments' acquisition of the historic Walker and Greig business, the company shifted toward an investment-oriented identity.
Action taken
The company was renamed Environmental Resources Investment PLC.
Aftermath
The renamed company pursued acquisitions and became subject to regulatory scrutiny during its expansion.
Recent events
- Unconfirmed
Ambeon Holdings annual report wins Vision Awards recognition[2]
Reported:
Ambeon Holdings PLC's 2018/19 annual report was ranked 38th among the Top 100 Reports Worldwide 2018/19 and received a joint Gold Award in the conglomerate sector at the Vision Awards Annual Report competition organized by LACP.
Sources2 sources
Cite this profile: Cite the canonical profile. /brand-wiki/ambeon-holdings · Editorial policy · How profiles are compiled