Access Engineering

Access Engineering is a Sri Lankan diversified engineering and infrastructure company founded in 2001. Its core business is civil engineering and construction, but the company has developed a broader portfolio that includes the manufacture and supply of construction materials, mechanical engineering, real estate development, renewable-energy projects, automobile trading, logistics, and radiopharmaceutical production. This breadth gives the company a position that extends beyond the conventional role of a building contractor: it can participate in infrastructure delivery, property development, materials production, and selected industrial or service businesses. The company was established by Sumal Perera, Christopher Joshua, and Ranjan Gomez. An early expansion of its property interests came in 2008, when Access Realties Limited, which owned Access Tower on Union Place in Colombo, became a subsidiary. In 2011, Access Engineering issued 180 million ordinary shares and raised LKR 4.5 billion. The same year it became the first Sri Lankan construction company to participate in the United Nations Global Compact, reflecting an effort to connect its corporate practices with internationally recognized sustainability principles. Access Engineering entered Sri Lanka's public equity market in 2012 through a Colombo Stock Exchange initial public offering. The offering comprised 20 million shares and raised LKR 500 million. In that year the company also acquired 60% of Sathosa Motors PLC, extending its activities into automobile trading. Further property consolidation followed in 2014, when Access Engineering acquired full ownership of Access Realties II Limited. Construction and infrastructure remain the company's most visible activities. Its work has included roads, expressway-related construction, housing, high-rise and mixed-use developments, wind energy infrastructure, and specialist buildings. The company has also expanded asphalt production and was described as one of Sri Lanka's largest asphalt-concrete producers, with a seventh plant built in Kekirawa. Projects cited in reference material include the Thambapavani Wind Farm, the Bloemendal housing project in Colombo, a building for the Sri Lanka Institute of Nanotechnology, the Central Expressway, and the Nittambuwa-Pasyala Road project. The property portfolio includes Marina Square, described in the reference material as a 1,068-unit condominium development and the largest condominium project in Sri Lanka at the time of reporting. The 242-unit Capital Heights apartment complex in Rajagiriya was also nearing completion in the same period. Access Engineering was additionally awarded a 400-unit housing project at Elliot Road in Borella after Cabinet approval, with a reported contract value of LKR 9.34 billion. News of that award was associated with a five-fold increase in the company's Colombo Stock Exchange share price; the available material does not establish the precise dates or trading details of that movement. The company continued broadening its construction-materials platform in early 2021 by acquiring 50% of Lanka AAC Ltd., a producer of autoclaved aerated concrete, for LKR 131 million. In 2019 it acquired all issued shares of WUS Logistics (Pvt) Ltd. for LKR 925 million, adding logistics capabilities to the wider group. Access Engineering was also recognized by the Ceylon Chamber of Commerce in 2017, 2018, and 2019 among the country's ten Best Corporate Citizens, according to the cited reference material. It is a constituent of the S&P Sri Lanka 20 Index. The available sources do not provide enough information to describe its current executive team, current revenue, or present project pipeline reliably.

Access Engineering was founded in Sri Lanka in 2001 by Sumal Perera, Christopher Joshua, and Ranjan Gomez. It began as an engineering and construction business and subsequently developed into a diversified group with interests connected to infrastructure, property, construction materials, mechanical engineering, energy, automotive trading, logistics, and radiopharmaceuticals. The company's property platform expanded in 2008 when Access Realties Limited became a subsidiary. Access Realties owned Access Tower on Union Place in Colombo, giving the group an established real-estate asset alongside its construction operations. In 2011, Access Engineering raised LKR 4.5 billion through the issue of 180 million ordinary shares. It also became the first Sri Lankan construction company to participate in the United Nations Global Compact. That step placed the company among Sri Lankan businesses publicly associating their operations with the Compact's principles on responsible corporate conduct. Access Engineering joined the Colombo Stock Exchange in 2012. Its initial public offering consisted of 20 million shares and raised LKR 500 million. The same year, it bought 60% of Sathosa Motors PLC, broadening the group's commercial activities into automobile trading. In 2014, the company acquired the remaining ownership of Access Realties II Limited and consolidated another part of its real-estate interests. During the following years, construction and infrastructure remained central to the business. Access Engineering participated in road and expressway work, public and private housing, high-rise development, renewable-energy infrastructure, and specialist construction. It also expanded its asphalt operations, adding a seventh production plant at Kekirawa. The company was described in the cited material as one of Sri Lanka's largest producers of asphalt concrete, a capability that supports its road-building activities and gives it a materials-manufacturing dimension. The group's development portfolio included Marina Square, a 1,068-unit condominium project described at the time as Sri Lanka's largest condominium development. It also worked on the 242-unit Capital Heights apartment project in Rajagiriya. Other projects mentioned in the source include the Thambapavani Wind Farm, the Bloemendal housing project, a building for the Sri Lanka Institute of Nanotechnology, the Central Expressway, and the Nittambuwa-Pasyala Road project. In 2019, Access Engineering acquired all issued shares of WUS Logistics (Pvt) Ltd. for LKR 925 million. This transaction extended the group into logistics and supported its broader diversification strategy. The company was also listed among the ten Best Corporate Citizens in Sri Lanka by the Ceylon Chamber of Commerce for the third consecutive year in 2019, implying recognition in each of the three preceding years as well. It is also a constituent of the S&P Sri Lanka 20 Index. A further construction-materials expansion took place at the beginning of 2021, when Access Engineering acquired 50% of Lanka AAC Ltd. for LKR 131 million. Lanka AAC manufactures autoclaved aerated concrete, a lightweight building material used in construction. The deal connected Access Engineering's contracting and property activities with another specialized materials supplier. The company also received Cabinet approval for a 400-unit housing development at Elliot Road in Borella, reportedly valued at LKR 9.34 billion. Reference material states that the news was followed by a five-fold rise in the company's share price. The available source does not provide sufficient detail to determine the relevant trading dates or whether the movement was sustained. Current executive information, a current official website, and a fully updated description of present operations are not established by the supplied material.

• 2021

  Lanka AAC investment

  [1]Access Engineeringen.wikipedia.org

  The company acquired 50% of Lanka AAC Ltd., a producer of autoclaved aerated concrete, for LKR 131 million.

• 2019

  WUS Logistics acquisition

  [1]Access Engineeringen.wikipedia.org

  Access Engineering acquired all issued shares of WUS Logistics (Pvt) Ltd. for LKR 925 million.

• 2014

  Access Realties II ownership consolidated

  [1]Access Engineeringen.wikipedia.org

  Access Engineering acquired 100% ownership of Access Realties II Limited.

• 2012

  Initial public offering

  [1]Access Engineeringen.wikipedia.org

  Access Engineering listed on the Colombo Stock Exchange through an offering of 20 million shares that raised LKR 500 million.

• 2012

  Sathosa Motors acquisition

  [1]Access Engineeringen.wikipedia.org

  The company acquired 60% of Sathosa Motors PLC.

• 2011

  Capital raised and Global Compact participation

  [1]Access Engineeringen.wikipedia.org

  The company issued 180 million ordinary shares and raised LKR 4.5 billion. It also became the first Sri Lankan construction company to participate in the United Nations Global Compact.

• 2008

  Access Realties becomes a subsidiary

  [1]Access Engineeringen.wikipedia.org

  Access Realties Limited, owner of Access Tower on Union Place in Colombo, became part of the company.

• 2001

  Company founded

  [1]Access Engineeringen.wikipedia.org

  Access Engineering Limited was founded in Sri Lanka by Sumal Perera, Christopher Joshua, and Ranjan Gomez.

A diversified Sri Lankan engineering and construction group combining infrastructure contracting with property development, construction-material production, industrial services, and adjacent businesses.

• Engineering and construction · 2001

  Civil engineering and infrastructure construction

  The company's principal activity is civil engineering and construction. Its cited work includes roads, expressways, housing, high-rise and mixed-use developments, renewable-energy infrastructure, and specialist institutional buildings. Projects mentioned in the reference material include the Central Expressway, the Nittambuwa-Pasyala Road, the Thambapavani Wind Farm, and a building for the Sri Lanka Institute of Nanotechnology.

• Construction materials

  Asphalt concrete

  Access Engineering manufactures asphalt concrete for infrastructure and road-construction applications. The company expanded this activity by establishing a seventh asphalt plant in Kekirawa and was described in the supplied material as one of Sri Lanka's largest asphalt-concrete producers.

• Real estate development

  Marina Square

  Marina Square is a large condominium development associated with Access Engineering. The supplied reference describes it as a 1,068-unit project and, at the time of reporting, the largest condominium development in Sri Lanka.

• Real estate development

  Capital Heights

  Capital Heights is a 242-unit apartment complex in Rajagiriya. The reference material states that the project was nearing completion during the period described, but does not provide a confirmed completion date.

• Automotive · 2012

  Automobile trading

  Through its 2012 acquisition of a 60% stake in Sathosa Motors PLC, Access Engineering expanded into automobile trading. The supplied material does not identify the current product range or operating structure of this business.

• Construction materials · 2021

  Autoclaved aerated concrete

  Access Engineering acquired a 50% interest in Lanka AAC Ltd. in 2021. Lanka AAC manufactures autoclaved aerated concrete, a lightweight construction material used for building applications.

• 2021

  Investment in Lanka AACM&A

  Background

  The company expanded its construction-materials activities into lightweight building products.

  Action taken

  Access Engineering acquired 50% of Lanka AAC Ltd. for LKR 131 million.

  Aftermath

  The investment gave Access Engineering a stake in a manufacturer of autoclaved aerated concrete. The source does not provide later performance information.

  Acquisition consideration. LKR 131 million (2021)

  Source

• 2019

  Acquisition of WUS LogisticsM&A

  Background

  Access Engineering expanded its diversified group into logistics services.

  Action taken

  The company acquired 100% of the issued shares of WUS Logistics (Pvt) Ltd. for LKR 925 million.

  Aftermath

  The deal added logistics to the group's operating portfolio. The supplied material does not describe subsequent results.

  Acquisition consideration. LKR 925 million (2019)

  Source

• 2014

  Full acquisition of Access Realties IIM&A

  Background

  The company continued consolidating its property-related interests.

  Action taken

  Access Engineering acquired 100% of Access Realties II Limited.

  Aftermath

  The acquisition gave Access Engineering full ownership of the subsidiary. Further financial or operating consequences are not specified in the source.

  Source

• 2012

  Acquisition of Sathosa Motors stakeM&A

  Background

  Access Engineering sought to broaden its business beyond construction and engineering.

  Action taken

  The company acquired 60% of Sathosa Motors PLC.

  Aftermath

  The transaction extended the group into automobile trading. The supplied material does not provide later performance details for the investment.

  Source

1. 1Access Engineeringen.wikipedia.org