Information Sources：Fountain Set (Holdings) Limited (the “Company”) - Corporate Governance Department of the Group

Release Date：2023-07-06

As a forward-looking company that highly values the well-being of its employees and corporate branding, Ocean Lanka (Private) Co., Ltd. ("Ocean Lanka"), a subsidiary of the Company, proudly inaugurated its new office premises on July 5, 2023. The momentous occasion was celebrated with a grand ceremony and a captivating cocktail event among partners, including the Company, Brandix Lanka (Private) Limited, and Ceylon Knit Trend (Pvt) Ltd. (a subsidiary of Hirdaramani Group).

The welcome note was delivered by Dr. Austin Au, the Managing Director of Ocean Lanka, who expressed his gratitude and enthusiasm for this remarkable venture. He said “It is a new, happy, and exciting experience, to have our partners, suppliers, customers, and others here tonight. This celebration is not only for the opening of our new office, it is also a celebration of our 25th year in operation, which we were unable to celebrate before due to the pandemic. We have entered into a new era of Ocean Lanka’s business, from our new look and vision, we are excited to see what the future holds.”

The ceremony also featured insightful guest speeches by key partners. Dr. Li Gang, Executive Director and Vice President of the Company, conveyed his excitement about Ocean Lanka and the immense potential it holds for all parties involved. “I am very happy to be in Ocean Lanka's new office. The textile industry has gone through a series of challenging times in the past few years, which have been also full of opportunities. Facing many difficulties, we have always been brave to explore, venture, try, seize opportunities, and achieve new development. I hope that Ocean Lanka can always move forward and stand out in the highly competitive and ever-changing textile and apparel market.”

Mr. Ashroff Omar, Group Chief Executive Officer of Brandix Lanka Limited, expressed his delight in collaborating with Ocean Lanka, emphasizing the shared values of quality and sustainability that will shape their collective journey. He said “I think Ocean Lanka was the first professional, educated textile plant in Sri Lanka. Because of Ocean Lanka, we became known as a nation of cut-and-sew knits. Ocean Lanka has done a fantastic job for the country, the industry, its shareholders, and its employees.”

Mr. Siddarth Hirdaramani, Director of Hirdaramani Group, commended Ocean Lanka and its potential to revolutionize the textile landscape in Sri Lanka. He said “To maintain our position as a market leader in Sri Lanka, we’ve had to adapt and innovate. This is something we have done with Ocean Lanka for many years and I hope we will continue to move forward. As one of the few large-scale fabric mills on the island, I think we have a unique opportunity to influence the future of our industry, I believe we have to continue exploring avenues of improvement, by investing in technology, and our environmental impact.”

About Ocean Lanka

Ocean Lanka was established in 1994 as a joint venture between the Company and Sri Lankan clothing leaders Brandix Lanka (Private) Limited and Ceylon Knit Trend (Pvt) Ltd. (a subsidiary of Hirdaramani Group) (the Company 60%; other 40%). It is located in the suburbs of Colombo, the capital of Sri Lanka. Ocean Lanka is the largest manufacturer of weft knitted fabric in Sri Lanka and the first manufacturer in Sri Lanka's textile and garment industry to establish a system partnership with Bluesign. With over 25 years of experience, Ocean Lanka produces high-quality and world-class fabrics for renowned international brands, including Victoria's Secret, PVH (Tommy Hilfiger/Calvin Klein), Nike, and Uniqlo. Ocean Lanka represents a unique collaboration combining the strength and expertise of a world-renowned entity.