LMD 100 Q&A

Q: Describe your group’s journey of diversification since inception…

A: CIC Holdings has a rich legacy spanning almost six decades in Sri Lanka, incorporated as part of Imperial Chemical Industries (ICI) of the UK in 1964 to supply chemicals to the local industry.

After ICI divested its stake in the early 1990s, CIC’s diversification journey truly began – first in the agro-inputs business with key acquisitions of state farms.

This strengthened CIC’s R&D capabilities in its mission to be more impactful in providing the market with the least toxic (class 3 and class 4, internationally accepted) agrochemicals and plant nutrients to increase yields and hybrid seed development.

CIC has cemented its position as the market leader in the provision of high quality inputs to strengthen Sri Lanka’s core agricultural base and food security.

Thereafter, CIC invested in Link Natural and its reputable brand Link Samahan, by leveraging ancient recipes with modern science and technology.

Thereafter, the business moved on to manufacturing Western pharmaceuticals, focussing on providing affordable and quality branded generic medicines.

CIC’s industrial solutions sector is a leading supplier of essential raw materials to support manufacturing activities spanning from textiles to the latex export business.

Today, CIC is engaged in five business verticals: agro-cluster; healthcare; industrial chemical inputs; animal feeds, poultry processing and vet care; and consumer brands business – with brands such as Creamoo, Besto chicken and Golden Crop low GI rice varieties.

The group has expanded on the back of meaningful acquisitions, shaping its purpose of nurturing lives by selecting businesses that complement its values. CIC’s ‘starburst’ logo depicts the convergence of its various businesses to ‘Nurturing Life,’ and positive impact on community and nation.

Q: What trends do you observe in your sectors – and what have you done to optimise such emerging trends? 

A: At CIC, we have strong domain knowledge of each business vertical. With agriculture being a key thrust of the government, we are creating and engaging with farmer clusters, to advise and keep them abreast of good agronomical and climate adaptive practices, in optimising yields.

Our products and services are backed by clinical trials and strong R&D. Our priority is to harness ancient wisdom, domain knowledge and superior quality to provide a strong value proposition to the consumer.

We have initiated the Envisioning programme to boost impact, increase revenue and expand our export base, through new avenues and business adjacencies, for greater export value.

Q: What measures have been taken to sustain or grow your group in the past 12 months?

A: Despite challenges in the past year, we’ve aimed for greater value and impact in our operating environments.

CIC has established a robust product development pipeline for growth, and prioritised employee engagement through training and development, to enhance resilience and wellbeing, recognising human capital as our most vital asset.

Q: What skill gaps do you see in the local talent pool – and how should these be addressed at national and industrial levels? 

A: Local talent needs exposure to new technologies, modern processes, and better communication and presentation skills in English. A ‘can-do’ attitude is the key to success as is resilience.

In our organisation, we try to create that enabling environment and performance culture.

Sri Lanka must benchmark its workforce against other talent pools in the region, and put in place a robust and relevant education curriculum to support industry needs.

Q: What are the group’s medium-term priorities, given the prevailing business environment?

A: We operate in essential businesses that helped sustain the group despite external challenges in recent times.

In the medium term, our focus is on growing exports and building stronger brands. We will continue investment in R&D to build a strong ‘future ready’ product pipeline and expand the technological footprint across our sectors.

Developing an environmental, social and governance (ESG) footprint in line with our ethos of ‘Nurturing Lives’ is a key priority for the group.

Our focus will also be on investing in people; because despite well laid plans, you need capable people to implement and execute strategies.

Telephone 2359359 | Email: cicho@cic.lk/info@cic.lk | Website: www.cic.lk