The CEAT brand’s retail presence in Sri Lanka has been further strengthened with the opening of three more premium outlets in the country – two in Colombo city and one in Hanwella.

The three new CEAT Shop-In-Shop (SIS) outlets are designed to drive brand premiumisation and enhance customer experience at leading dealer outlets. They are located at U&H Wheel Service and Paramount Tyre Traders, both at Prince of Wales Avenue, Colombo 14; and at Sakura Tyre Centre, Hanwella.

Part of a three-year distribution channel expansion strategy by the country’s highest-selling tyre brand, the CEAT Shop-in-Shop concept entails demarcating a dedicated area for CEAT branded tyres within existing multi-brand dealer premises. CEAT furnishes the interior, customer lobby and reception areas of this private space to augment customer comfort. Additionally, CEAT Kelani Holdings invests in interior branding, signage, and innovative product display racks to emphasise the tyre offerings available with the channel partner. Besides enhancing the visibility and positioning of the brand, this model is also known to increase the channel partners’ revenue, the Company said.

Bitumix Private Limited, the leading company in the production and sale of bitumen and related products in Sri Lanka, has expanded fulfilling its corporate social responsibility by implementing the latest stage of the Bitumix Sisu Senehasa scholarship programme that provide financial assistance to students from low-income families. Under this programme, financial assistance is provided to selected students from Anuradhapura District who have excelled in their education. The students are benefitted through this programme to complete their school as well as university education.

The scholarship programme, a concept of Bitumix Managing Director Ashoka Siriwardena, was first launched in 2014 by providing financial assistance to six students. Over the past, hundreds of students have received assistance under this programme and successfully completed their school and university education.

(A group of students from Anuradhapura District who had excelled in their education received financial assistance from Bitumix under the programme)

Lanka Special Steels Limited, Sri Lanka’s premier and pioneering manufacturer of hot-dipped galvanized steel wire, with a rich history of over 25 years, recently announced the launch of its flagship international brands of wire, “Lanka Special Steels Ltd Poultry 300” and “Lanka Special Steels Ltd Premium 100”. These high-quality products are designed for use in the poultry industry and for general fencing requirements, respectively. Lanka Special Steels is launching these products for the Indian

market, where these use cases are niche markets with few high-quality solutions. Lanka Special Steels utilizes only premium quality virgin raw materials sourced from reputable suppliers, including JSW Steel, TATA Steel, and Hindustan Zinc, ensuring superior finished products. The Galvanised Steel wires manufactured by Lanka Special Steels find extensive applications across various industries, including poultry enclosures, chain-link fencing, barbed wire, PVC-coated fencing, cable armour wire, ACSR wire, and numerous other diverse applications.

DIMO Academy, the educational arm of DIMO, recently hosted its 32nd convocation ceremony, recognizing the achievements of 50 graduates who completed the German Diploma in Automobile Mechatronics Program and Certificate course in Automobile Mechatronics. The ceremony highlighted the exceptional performance of three graduates who received gold, silver, and bronze medals for their outstanding academic accomplishments. D. G. Kasun Induja Wickramarathne, U. L. D. Chamath Milintha Gunasinghe, and Siyambalapitiyage Ishan Piyethro Silva were honoured with the respective awards.

A noteworthy milestone for this year’s diploma recipients was the attainment of foreign employment opportunities with four esteemed German automobile companies, prior to their official graduation ceremony. Following the final exam, these companies swiftly approached the Academy, recognizing the calibre of talent nurtured within the Academy. This underscores the effectiveness of DIMO Academy’s collaboration with industry partners and its dedication to shaping a skilled workforce that aligns with the evolving needs of the industry.

Ms Dilrukshi Kurukulasuriya, Executive Director and CHRO of DIMO who is also spearheading education arm of the group said, “The Certificate course in Automobile Mechatronics which Academy offers free of charge and our versatile Diploma in Automobile Mechatronics program play a crucial role in empowering young Sri Lankans with correct skill set in the automobile sphere. By equipping them with globally demanding technical skills and knowledge, we pave the way for their successful careers in the ever-evolving automotive industry while realizing their dreams.”

Lanka Harness Co. a fully Japanese owned BOI enterprise won overall silver winner of the best management practices awards 2024, best management practices excellence awards 2024 and category winner of manufacturing at the best management practices company awards 2024, organised by the institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka) at the Cinnamon Grand recently. Mekala Dunuwila of Lanka Harness Company receives the award from Mizukoshi Hideaki, the Japanese Ambassador in Sri Lanka.

Dipped Products PLC, a leading manufacturer of hand protection solutions, has secured two prestigious awards at the National Business Excellence Awards 2023 (NBEA). The awards ceremony, organized by the National Chamber of Commerce, was attended by government officials, diplomatic community members, and business leaders. The NBEA, a renowned corporate awards competition in Sri Lanka since 2004, recognizes excellence in business practices and emphasizes environmental, social, and governance (ESG) considerations. DPL emerged as the winner in the Export Sector and received the Joint Merit Award in the Extra-large category. DPL, a global leader in providing innovative and sustainable hand protection solutions since 1976, has manufacturing facilities in Sri Lanka and Thailand and marketing arms in Italy, Poland, France, and the Middle East. These accolades further strengthen DPL's position as a leader in Sri Lanka and the global market.

DFCC Bank has launched a new Financial Literacy guide titled "Is this Every Sri Lankan Migrant Worker's Story?" to empower migrant workers in Sri Lanka. The guide, spearheaded by DFCC Bank PLC's Remittances Department, aims to create awareness about financial literacy and educate migrant workers on the advantages of remitting money through legitimate channels. The guide aims to contribute to increased foreign currency inflows to the country and help migrant workers secure their financial futures better. DFCC Bank CEO Thimal Perera believes that the guide will become a trusted guide for financial planning and investment decisions, helping migrant workers secure their financial future and support their loved ones back home. Senior Vice President of Offshore Banking, Remittances and Business Development Anton Arumugam emphasized the importance of the initiative, stating that migrant workers play a vital role in supporting the economy and society. The guide will also be facilitated by the regional offices of the Sri Lanka Bureau of Foreign Employment. The guide was launched at a special ceremony at the DFCC Bank Head Office, with the patronage of the Sri Lanka Bureau of Foreign Employment and Assistant General Manager for Corporate Affairs L. A. P. K. Liyanwala.

Source:- Daily News – 29th August 2023

CEAT Kelani Holdings, a major user of natural rubber in Sri Lanka, has started hosting rubber cultivators for tours of its extensive manufacturing complex in Kelaniya. The first group of 45 rubber growers and dealers from various areas visited the CEAT Kelani factory to learn about the procurement processes, stringent quality tests, storage of the precious raw material, the first-in-first-out (FIFO) method used in inventory management, and the entire manufacturing process from inception to completion. The company highlighted the importance of maintaining consistently superior quality in the supply of natural rubber and the impact of a small omission in the tapping of rubber on product quality. CEAT Kelani Holdings Managing Director Ravi Dadlani said that the company's success is important to the cultivators, and the company was encouraged by the level of interest shown by the growers and dealers. The company's manufacturing operations in Sri Lanka encompass tyres in the radial, commercial, motorcycle, three-wheeler, and agricultural vehicle segments. The cumulative investment of CEAT Kelani Holdings in Sri Lanka exceeds Rs 8 billion.

Source: - The Island – 10th September 2023

Multichemi International Ltd., a leading Sri Lankan manufacturer of eco-friendly, biodegradable detergents, has launched its first plant-based fabric conditioner, 'Magic Soft'. Launched at the Tangerine Beach Hotel in Kalutara, the conditioner is free of animal fats, offers premium softness, and uses encapsulated fragrance technology for longer-lasting scents. It also prevents color fading, minimizes wrinkles, and preserves the new look of clothes for longer, making ironing easier. The conditioner is available in Floral Fresh and Aqua Fresh fragrances in 1L bottles and 200ml refill packs. Multichemi International Limited, established in 1993, is one of the largest Sri Lankan manufacturers producing international standard, biodegradable, and environmentally friendly detergents under the brand 'dash'. The company has achieved ISO 9001 quality certification and a strong commitment to customer satisfaction and product quality.

Hemas Holdings PLC reported a 13.5% growth in revenue in the first six months of 2023/24, with a total revenue of Rs. 59.0 billion. Operating profit and earnings saw marginal growth, reaching Rs. 4.9 and 2.3 billion, respectively. In comparison to the previous year, Sri Lanka’s economic landscape has shown some developments. There has been a significant reduction in inflation with September closing at 0.8% growth on a year-on-year basis although being on an inflated base. Amidst ongoing pressure on the external sector, the exchange rate remained fairly steady throughout the quarter, and interest rates experienced a substantial decline of over 120 percentage points, reducing the burden associated with financing costs.

Given the progress made in the domestic debt optimisation efforts and external debt restructuring discussions, the disbursement of the second tranche of the IMF loan is anticipated in the near future. Nevertheless, Sri Lanka continues to face a multitude of issues, including elevated unemployment rates, constrained disposable income of individuals, and the formidable challenge of managing an extensive debt burden. Consumers, grappling with reduced purchasing power, maintained a cautious approach to their spending patterns.

ACL Cables PLC bagged the Gold Award, Extra Large Category in the Electronic and Electrical Sector at the NCE Export Awards 2023 for their export performance in the year 2022 - 2023. The awards, organised by the National Chamber of Exporters, recognises exporters’ performance annually under strict criteria. ACL Cables PLC was also honoured with a Certificate of Ethical Trading (CET) under the category of Best Ethical Exporter 2023 as part of the NCE Challenge Trophy, and inducted into the select few corporates that have been recognised for their commitment to ethical trading practices, and in recognition of the corporate’s continuous efforts to ethical practices with all stakeholders. The CET is issued by the National Chamber of Exporters exclusively for NCE Members who have exemplified commitment to ethical trading practices.

Asiri Surgical Hospital shines in its commitment to patient safety & care, winning ‘Best Infection Control Strategy’ at the National Safety and Occupational Health Excellence Awards 2022, held at the Shangri-La-Colombo. November 21, 2023

HNB Assurance PLC have been recognized as the Silver Award Winner (Insurance Category) at CA Sri Lanka's TAGS Awards 2023.

TAGS Awards is a recognition of Transparency, Accountability, Governance and Sustainability in Annual Corporate Reporting.

Janashakthi Insurance PLC received SILVER in the Insurance Sector category at CA Sri Lanka's TAGS Awards 2023.

DIMO achieved remarkable recognition at the TAGS Awards 2023, hosted by the Institute of Chartered Accountants of Sri Lanka, securing the following awards:
- Gold Award for Integrated Reporting (Shared)
- Gold Award for Diversified Holdings (Group Turnover up to LKR 50 Billion)
- Silver Award for Digitally Transformative Reporting (Shared)
- Bronze Award for Sustainability Reporting

Nestlé Lanka achieved a new milestone, emerging as the overall winner for the Best Risk Management Solution category at the esteemed Adam Smith Awards ASIA 2023.