PROJECT

Projects

Summary of Investment Information

Project Number

44366

Company Name

MAS CAPITAL (PRIVATE) LIMITED

Date SPI Disclosed

Dec 4, 2020

Country

Sri Lanka

Region

South Asia

Projected Board Date

Jan 14, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jul 17, 2021

Department

Regional Industry - MAS Asia & Pac

Industry

Manufacturing

Previous Events

Approved : Feb 10, 2021
Signed : Jun 8, 2021
Invested : Jul 15, 2021

Sector

Garment and Apparel (With Primary Textile Operations, Excluding Footwear)

Project Description

MAS Holdings (Private) Limited (“MAS” or the “Group”) manages a portfolio of businesses and has operated in the realm of apparel and textile manufacturing for over 30 years. It is also the largest apparel and textile manufacturer in South Asia. The organization is headquartered in Sri Lanka with 61 manufacturing facilities placed across 16 countries, with design locations placed in key style centers across the globe and over  93,000 people involved in its operation. Today, the Group manages a more diverse portfolio of businesses across IT, brands, wearable technology, Femtech, medical apparel, start-ups and fabric parks worldwide.

 

MAS Capital (Private) Limited (“MCAP” or the “Company”) is a wholly owned subsidiary of MAS and the holding company of the Group’s apparel pillar.

 

The Project consists of financing the medium- and long-term working capital requirements, capital expenditure and general corporate purposes of MCAP’s existing operations in Sri Lanka.

Associated Advisory Engagement

 Through IFC Advisory services in Gender, the Project is expected to provide support to identify gaps and understand the best practices etc. so that the Company can integrate it to the internal gender equality actions.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation