Sit Land Holdings Limited (Mauritius)

The Sugar Investment Trust (SIT) is a body corporate established under an Act of Parliament in 1994 and, which operates as a company under the Companies Act 2001. It is the largest shareholder based public company in Mauritius with more than 40,000 members. Shareholders within the SIT Group of companies exceed 55,000.The creation of SIT constitutes a landmark in the Mauritian history. Set up initially as a participation scheme in the sugar industry, it has become a model of economic democratization for the country. It provides a forum for participation of planters and workers at corporate decision making level of sugar milling companies as well as equity participation and therefore a share of profit which ensures a fair rate of return on investment to all shareholders. SIT has known spectacular growth. Its net assets were worth Rs 296 million in its first year of operation. The assets of the Group now exceeds Rs 2 billion. Its investments were originally limited to all sugar milling companies. SIT now has a portfolio of private equity in sugar cane cultivation, sugar milling, energy, leisure, banking and property development.