Cracker Deal

April 23, 2007 (LBO) – Listed-firm Hemas Holdings which is strong in marketing fast moving consumer goods and Maliban, a biscuit maker, said Monday they are exploring a strategic alliance. “The possible future alliance is being discussed with a view to further enhancing the Maliban brand equity and boosting the distribution of Maliban products, both in Sri Lanka and Overseas,” the two firms said in a joint statement to the Colombo Stock Exchange.

Maliban Biscuit Manufacturies is an old established privately-held firm with a strong brand presence in Sri Lanka’s confectionary market.

Hemas shares closed at 113 rupee Friday, and trading in the stock was halted on Monday with the announcement.

Hemas Holdings has interests in power, apparels, pharmaceuticals and tourism in addition to FMCG.