Statement by John Keells CG Auto (JKCG)- 22.05.2026

Following the recent Gazette notification No. 2488/56 dated 15 May 2026 introducing a temporary surcharge on imported motor vehicles, public references have alleged that certain vehicle importers, including John Keells CG Auto (JKCG), established Letters of Credit on the day immediately prior to the notification. 

JKCG categorically rejects this claim and states that the company had no prior knowledge of the surcharge.  No Letters of Credit were established for BYD vehicles a day immediately prior to the relevant Gazette notification, and the company did not have any advanced knowledge of the surcharge, as falsely alleged.

JKCG, as a significant player in the motor vehicle market, places orders in the ordinary course of business on a regular basis. The most recent orders in respect of BYD vehicles were between the period March to 30th April 2026. No Letters of Credit have been established after this date, including at any time during May 2026.

JKCG remains committed to transparency, good governance, and full compliance with applicable laws and regulations, and will continue to serve customers responsibly within the prevailing regulatory framework.