“The larger the dream, the more important the team”

Hanif Yusoof’s story is arguably one that is romantic as it is a handsome fairytale success story. He met the Chairman of what is now Expolanka Group quite by chance when the Chairman offered him a lift into town in his vehicle – in those days, a motorbike. This was a journey from which the young Yusoof never looked back.

It is a journey that has seen the company, which started by exporting fruits and vegetables from Colombo, expand to a diversified entity, not only trading internationally but actually businesses in Africa, the Middle East, India, Bangladesh, Vietnam, and Indonesia – whilst being headquartered in Sri Lanka.

A company with a turnover of Rs. 29 billion – US$ 290 million – employing 2,513 staff in 47 companies with 14 CEOs, present in 11 countries, 38 cities, it is still very much privately-owned. Next week though that almost cozy arrangement is set to change when Yusoof as the Group CEO takes Expolanka on yet another journey: The Expolanka IPO, with 25% of the company being sold on the Colombo Stock Exchange.

Family

Yusoof is now 52, married for 27 years to whom he calls a “splendid lady” and has three amazing children – his choice of description. One, he says, followed his advice and graduated from the University of Michigan, majoring in supply chain management; his daughter followed her own advice and graduated from a University in Melbourne and majored in journalism; whilst his youngest son followed no one, gave up his A/Ls and set himself up as an entrepreneur.

The journey that the Kassim brothers and Yusoof undertook from 1978 onwards has seen the creation of a company involved in four distinct sectors and has seen Expolanka create its own businesses in places like Africa, the Middle East and Asia.

Out-of-the-box thinking

His out-of-the-box thinking but conservative approach has seen the Group flourish in the sectors and has led to the shareholders seeking to raise Rs. 24 billion (US$ 240 million) from an IPO that closes on the 12 May. Brokers report steady interest and the offer is expected to be heavily oversubscribed.

Yusoof traces his ancestry to a small village in the Gujarat and part of the family moved to Ceylon during the so-called portioning years in India. Involved in textiles, Yusoof recalls that the only time he went to Court was when he had fallen foul of Mrs. Bandaranaike’s price control measures – he had inadvertently forgotten that a simple ballpoint pen was deemed an essential item and had sold it for a few cents more than the official price. That experience has honed in him the skills needed to do business by negotiation and consensus.

Commercial journey

Hanif Yusoof’s commercial journey has seen him in many diverse roles: that of a magician, a fashion designer with his own disastrous fashion show, a city tour guide and a club photographer – the club being in close proximity to where he lived. Not long before he – in modern parlance, retired his debts – sold out and moved on joining the Kassim family in setting up the transportation business to facilitate the exports that was their principal business then; today its fashion logistics business is the preferred partner of many of the world’s leading brand names – as indeed is the airline representation business which represents 15 international airlines in Sri Lanka.

IPO

Yusoof is bullish about the prospects for his Group’s IPO. The money raised, he said, would be used to expand businesses that it is already successful in. None of it is to be used for new, untested or unexplored businesses – “just doing what we know how to do” is how it was simply put.

Asked whether the prospect of setting up business in other countries didn’t daunt him, a bemused Yusoof said: Not at all!”

“Foreigners come here and set up businesses and we saw nothing more natural than us going over there and doing likewise,” he added. Clearly, with businesses in 11 countries, they certainly know a thing or two.

Relationships

Yusoof is passionate about relationships, saying it is a fundamental that needs to be a constant presence in thought and action. In his own words, “Business is really about people. An organisation is nothing more than a human venture that brings people around a marvellous dream that inspires them to express their talents. Everyone you meet is someone’s son or daughter. Everyone has a story that is worth hearing. The larger the dream, the more important the team.

“I never lose sight of the fact that every morning they leave the comfort of their families and come to work for me, giving me the best they have to give. The quality of the organisation comes down to the quality of the relationships between the team members. Good relationships give you a good company. Extraordinary relationships give you an extraordinary company. With all the modern technology, disruption and competition, a lot of us have forgotten the whole game is about relationships. The stronger the bond, the stronger the results.”