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((Multiple issues|
((Primary sources|date=October 2007))
((More citations needed|date=August 2007))
))

((Infobox company
| name = Ceylinco Consolidated
| type = [[Private limited company]]
| foundation = ((Start date and age|1938||))
| defunct = ((End date and age |2008||))<ref name="cc">((Cite web|url = http://www.ft.lk/article/38794/Golden-Key-collapse:-Lalith-K-and-others-finally-indicted--on-91-charges|title = Golden Key collapse |website=ft.lk/ |publisher = Wijaya News|access-date= July 11, 2011 |url-status=live|archive-url=https://web.archive.org/web/20180906012243/http://www.ft.lk:80/article/38794/Golden-Key-collapse:-Lalith-K-and-others-finally-indicted--on-91-charges |archive-date=2018-09-06 ))</ref>
| location = [[Colombo, Sri Lanka]]
| key_people = Deshamanya [[Lalith Kotelawala]] <small>(Group Chairman)</small><br> Titus Rodrigo <small>(CEO)</small>
| founders = [[Justin Kotelawala]]<br>[[Cyril E. S. Perera]]<br>Cyril Rodrigo<br>Hugh Weerasekere
| products = Banking, Insurance, Non- Banking Finance, Investment Banking, Housing & Property Development, Travel & Leisure, Communication & Information Technology, Education and Healthcare
| owner = [[Lalith Kotelawala]]
| net_income = ((profit)) US$ 10 million <small>(2006–8)</small><ref>((cite web|url=http://www.stock-market-today.net/2009_04_01_archive.html |title=April 2009 &#124; Stock Market Today |accessdate=2011-10-20 |url-status=dead |archiveurl=https://web.archive.org/web/20111027173508/http://www.stock-market-today.net/2009_04_01_archive.html |archivedate=2011-10-27 ))</ref>
| assets = ((Decrease)) US$ 200,000 billion <small>(2006–8)</small>
| num_employees = more than 30,000 people
| industry = Finance
| subsid = [[Seylan Bank]] <small>(1987-2008)</small><ref name="cc" /> <br>
[[Ceylinco Life]] <small>(1939-2008)</small> <ref name="cc" />
[[Ceylinco Insurance]] <small>(1987-2008)</small><ref name="cc" />
| homepage = ((URL|http://www.ceylincoconsolidated.com))
))

'''Ceylinco Consolidated''' was a  [[Sri Lanka]] business conglomerate until 2008.

==History==
The original company, ''Ceylon Insurance Company'', was founded by Hugh Weerasekera and Chevalier C. S. Antony with board members [[Justin Kotelawala]], Cyril Rodrigo, and [[Cyril E. S. Perera]] ([[United National Party|UNP]] member for [[Colombo North Electoral District|Colombo North]]). It was the first Ceylonese company to be registered under the Companies Ordinance of 1938. The company commenced business on 3 April 1939, providing life and general insurance services. The Company
was first located in the C.S. Anthony Building at 22 Baillie Street, in [[Colombo fort]] and later moved to No.69 Queens’ Street (Janadhipathi Mawatha), where the “Ceylinco House” was constructed.

The first directors of the company consisted of persons from the business world, medical profession and legal profession. They were:- Dr. [[S. C. Paul]]; [[Rosslyn Koch]], C. S. Anthony, L. B. de Mel; Dr P. Kulasinghe; and [[Cyril E. S. Perera]].

Due to the Perera's political stance against the [[Sri Lanka Freedom Party|SLFP]]'s divisive "[[Sinhala Only Act]]" the Ceylon Insurance Co. was eventually politically persuaded to relinquish control by the then SLFP government of Mrs Bandaranayake to Senator Justin Kotelawala then on the board of Ceylon Insurance. Justin Kotelawala gained control of Ceylon Insurance Co. from Alice Farmacia Perera, the widow of Cyril E. S. Perera, and from Violet van Dort, the widow of Hugh Weerasekere. Many people at the time were under the impression Ceylon Insurance Co. was not a profitable company due to what people were led to believe, when, in fact, Ceylon Insurance Co. was and still is a significant player in Sri Lanka's economy. Cyril E. S. Perera also co-founded (with the Berenger family) another significant Sri Lankan company, Ceylon Chocolates Limited, known for its Kandos brand, which was named after [[Kandy]] where they first produced chocolate bars, in combination with the Latin word for money "dos". Kandos also went under the same SLFP reformation, with control eventually being transferred into the hands of [[Upali Wijewardene]] for no monetary value.

Justin Kotelawala and his son [[Lalith Kotelawala|Lalith]] built the renamed Ceylinco into a major company which includes over 500 subsidiary companies. It has more than 450 offices with over 30,000 employees. In 1987 the company’s name was changed to Ceylinco Ltd. when it was registered as a public company. Ceylinco commenced business on 14 January 1988. A few of the many companies incorporated with Ceylinco are listed below.

===2009===
Ceylinco Consolidated is liable to repay nearly USD 200million for disgruntled<ref>((Cite web|url=http://sundaytimes.lk/090503/FinancialTimes/ft327.html|title=More FR petitions by Ceylinco Depositors))</ref> depositors<ref>((cite web |url=http://www.asiantribune.com/news/2011/03/10/sri-lanka-depositors-collapsed-ceylinco-fg-asked-return-reimbursed-properties |title=Sri Lanka depositors of collapsed Ceylinco F&G asked to return reimbursed properties &#124; Asian Tribune |accessdate=2011-10-24 |url-status=dead |archiveurl=https://web.archive.org/web/20120531123838/http://www.asiantribune.com/news/2011/03/10/sri-lanka-depositors-collapsed-ceylinco-fg-asked-return-reimbursed-properties |archivedate=2012-05-31 ))</ref> of failed [[Golden Key Credit Card Company]],<ref>((cite web |url=http://www.asiantribune.com/news/2011/01/24/sri-lanka%E2%80%99s-collapsed-golden-key-strikes-historic-repayment-deal |title=Sri Lanka's collapsed Golden Key strikes historic repayment deal &#124; Asian Tribune |accessdate=2011-10-24 |url-status=dead |archiveurl=https://web.archive.org/web/20120322215441/http://www.asiantribune.com/news/2011/01/24/sri-lanka%E2%80%99s-collapsed-golden-key-strikes-historic-repayment-deal |archivedate=2012-03-22 ))</ref> F&G (Finance and Guarantee) PLC, Ceylinco Shiram PLC<ref>((cite web|url=http://www.lankabusinessonline.com/fullstory.php?nid%3D672276403 |title=Sri Lanka Ceylinco chief says Golden Key mismanaged, boss resigned - LANKA BUSINESS ONLINE |accessdate=2011-10-24 |url-status=dead |archiveurl=https://web.archive.org/web/20120506073243/http://www.lankabusinessonline.com/fullstory.php?nid=672276403 |archivedate=2012-05-06 ))</ref> The scandal, which erupted like a tsunami when the Ceylinco [[Golden Key Credit Card Company]] failed to honour its payments to depositors, soon spread to other institutions. it is estimated as at 2009 a sum exceeding Rs. 26.5 billion approx (USD200 million) had to be paid to the 9,054 depositors.

===2011===
A failed Ceylinco group company, Ceylinco Shiram repaid<ref>((Cite web |url=http://www.ft.lk/2011/07/12/ceylinco-shriram-settles-over-50-in-cash-to-nearly-70-of-investors/ |title=Ceylinco Shriram settles over 50% in cash to nearly 70% of investors &#124; DailyFT - be Empowered |access-date=2011-10-24 |archive-url=https://web.archive.org/web/20120401091410/http://www.ft.lk/2011/07/12/ceylinco-shriram-settles-over-50-in-cash-to-nearly-70-of-investors/ |archive-date=2012-04-01 |url-status=dead ))</ref> a sum of With the release of the third tranche of payments by Ceylinco Shriram, nearly 70% of its investors would receive over 50% of their deposits in cash and in August 2011 Ceylico Shiram re paid the rest of the deposits in keeping with the promise made to the depositors that 60% of the deposit money would be settled within 42 months in 2009.<ref>((cite web |url=http://www.sundayobserver.lk/2011/07/24/fin21.asp |title=Financial News &#124; Sundayobserver.lk |accessdate=2011-10-24 |url-status=dead |archiveurl=https://web.archive.org/web/20110730032059/http://www.sundayobserver.lk/2011/07/24/fin21.asp |archivedate=2011-07-30 ))</ref>

==References==
((Reflist))

((Authority control))

[[Category:1938 establishments in Ceylon]]
[[Category:2008 disestablishments in Sri Lanka]]
[[Category:Conglomerate companies established in 1938]]
[[Category:Conglomerate companies disestablished in 2008]]
[[Category:Conglomerate companies of Sri Lanka]]

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