The Sugar Investment Trust is a body corporate established under the Sugar Industry Efficiency Act in 1994 and it operates purely on a commercial basis under the Companies Act 2001.
The Group’s impressive growth since 2005 has been driven by a new, successful and viable business model characterised by medium to long term value creation for the Group’s stakeholders. The outstanding performance of SIT Group has been supported by a diversified investment portfolio across a number of economic sectors: sugar milling, sugar cane cultivation, energy, leisure and property development.
As the largest shareholder based public company in Mauritius, SIT Group has grown into a rare model of economic empowerment with more than 55,000 shareholders comprising mainly of small cane planters, employees and pensioners of the sugar industry.
The established record of the Group’s financial performance and robust balance sheet cannot be overlooked. From an average meagre profit of Rs 72 million in its early years, the Group has been generating an average profit of Rs 200 million during the last five years. The Group’s total assets have increased from Rs 506 million in its first year of operation to a staggering Rs 4.7 billion in 2012.
The success of the SIT Group has been propelled by the noteworthy achievements of the company and its key subsidiaries (presented in the table below), all aligned around a coherent vision and objective.
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Main Business Activity
|Sugar Investment Trust||Holding investments in sugar milling, cane growing, energy, leisure, banking and property developments and real estate|
|SIT Leisure Limited||Operation of Splash n Fun Leisure Park at Belle Mare|
SIT Land Holdings Ltd
SIT Property Development Ltd
Real Estate and Property Developer and Promoter
|SIT Landscape Contracting Services Ltd||Landscaping services primarily to SIT Property Development Projects|
SIT Corporate & Secretarial Services Ltd
Registrar & Transfer Agent
|SIT Syndicate Services Ltd||Syndicate services primarily to residential and commercial projects of SIT Group|
NG Tower II Ltd
Rental of office space at NG Tower Ebène
Investments in the property development sector have been benefiting from strong growth over the last decade and today, represent the Group’s core business activity and main income driver. Recent developments initiated by SIT Group constitute landmark achievements in the property development landscape of Mauritius.
With a further stream of projects in the pipeline, the Group is determined to build on an impressive track record to further establish its leading position as a property developer. Considering the strength of the Groups’ financial standing and asset base including a land bank of some 2,500 arpents (1055 Hectares), the potential for successful and profitable development projects is indeed patent.
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