With Sri Lanka’s economy picking up, the construction sector is also slowly and surely picking up and giving local companies more business opportunities, said a market leader in Sri Lanka’s mechanical, electrical and plumbing services market (MEP) segment, Managing Director Synex International (Pvt) Ltd, R. P. P. Senarathne.
He said that the real estate and hotel sector which were under a cloud of uncertainty has now built confidence and re-starting some of the stalled projects. This positive scenario is also evident in most of the developing countries as well.
“We are now 25 years old and have opened business in Bangladesh, India, the Maldives and some of the African countries from where we get 60% of our total annual revenue amounting to USD 17 million. In Sri Lanka, we have about 60%-70% of the market share in providing MEP services for garment factories including renovations.
“With this modern positive trend in the construction filed we hope to increase this to around USD 20 million this year,” Senarathne said.
Synex was founded in 1999 with only five employees to fill in a gap in the market and first undertook a project for Star Garments Group at the Katunayake Export Processing Zone.
Senira Senarathne, who has taken on the mantle of CEO at Synex, said, “We have a branding position when it comes to the apparel industry whether it is in Sri Lanka, Bangladesh, Jordan or any other country. “We specialise in niche MEP services, and we can replicate that in any part of the world. Through our sustainable corporate ecosystem, we are capable of delivering low to high profile electrical and low voltage solutions to various market segments across the country and overseas, ensuring project deliverables meet the clients’ demands, needs and timelines.
“We have a very strong presence in Bangladesh and due to this we opened our first regional office there and today we also have an assembly plant to service and to be a strong competitor in the market,” he said.
