In 2019 CLP transferred its shoe manufacturing business to wholly owned subsidiary Ceylon Leather Products Distributors Ltd., for its net asset value of Rs 49.4 million.Consequent to the transfer CPL transferred 6,803,250 ordinary shares held in Ceylon Leather Products Distributors Ltd., to VAST Holdings Limited for a total consideration of RS 10,000.

VAST Holdings was incorporated to hold the investment in Ceylon Leather Products Distributors Ltd., by Dr. Sarath Paranavitane and Varuna Maliduwapathirana who are directors, shareholders having extensive experience in health care, manufacturing and tea plantation.