The plantation sector will be one of the best foreign earning businesses in Sri Lanka bringing in the much needed foreign exchange to boost the economy, said former Sri Lanka cricketer and current ICC elite panel umpire Kumar Dharmasena.
Dharmasena has ventured into his familiar turf with the launch of the first branch of his company, Pintenna Plantations in Galle recently with much optimism of great prospects despite the gloom of the current global environment.
He said there is a huge market opportunity for oud oil aka liquid gold which is in short supply in the market at present.
Pintanna Plantations Company is now coming into the market and offering the investment product, trees which are already grown and physically existing in the estate.
“This is the first stage of our business plan. Thereafter, our oil factory will be expanded with new technology to enhance the quality of the product during the next five years,” he said.
Pintanna Plantations (Pvt) Ltd will offer Agarwood trees to prospective investors. Three investment plans were unveiled where a minimum return is guaranteed.
He said that the field of plantations is not new to him. “I have been in this sector for decades planting Agarwood trees for the past eleven years. Oud oil is extracted from the agarwood tree by using the water distillery system and is a fine product for the export market.
Expansion
“My dream is to expand the business and increase business volume. There is a huge market opportunity for the business.
I have thought of using my leisure time to expand the existing business operation specially during the Covid-19 pandemic period,” said Dharmasena, a nature lover since childhood.
He said he used to visit his family estate whenever he came back to Sri Lanka after an overseas cricket tour.
“Initially the estate comprised tea, rubber, cinnamon and spices and thereafter, we moved into planting agarwood having studied its value.
He said the pandemic is a blessing in disguise to plan and launch this venture.
Investors could enhance their return through our investment product specially during the low interest rate regime.
“I have a professional management and marketing team; they manage the company based on the plans. I have to only do the overall supervision.
Therefore, I know that cricket and business could be managed properly,” he said.
Enthusiasm
At present, there are over 13,000 trees known by its native name Vallapatta spanning over 139 acres in the Ratnapura district.
A product of Nalanda College, Dharmasena rose to fame being a favourite of the Sri Lanka team and then an elite umpire. Continuing the same enthusiasm he had for the sport from childhood he took his interests deep into the heart of the country as a planter of trees that would generate a return that would bring foreign exchange to the country.
Dharmasena was a member of the Sri Lanka team that clinched the 1996 Cricket World Cup.