Why the Maharaja Organisation thinks Sri Lanka needs its own 'Shosholoza'

THE Capital Maharaja Group (CMG), now 95 years old, stands as a grand master of Sri Lankan business. With branches spread across key industries, finance, and development, the organisation is deeply entrenched in the country's economic landscape.

- By Tyron Devotta

What is remarkable about CMG is it has never gone public, remaining fiercely private and family-owned for three generations. Today, the Group continues to thrive under the stewardship of Sashi Rajamahendran, who has built on the vision of his late father, R. Rajamahendran.

How has this conglomerate sustained its momentum in an ever-changing world? The Group's latest annual review is testament to its enduring resilience: recording a profit before tax that reached an all-time high of six times greater than the previous year.

But CMG's journey has not been without its share of trials. In 1983, the company was deeply affected by the wave of racial violence that engulfed Sri Lanka. Its factories and offices were reduced to ashes-a bitter irony, given that the majority of its workforce was Sinhalese.

Yet, the Group then known as The Maharaja Organisation, was branded a 'Tamil company' and targeted in the unrest.In the aftermath, the management stood at a crossroads. It would have been easy to succumb to despair, but instead, the Board made a clear and unanimous decision: “We shall rebuild.”