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CBL Group acquires Indonesian Coconut Company

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Shea Wickramasingha, Group Managing Director of CBL Group, inaugurating the CBL TJT facility in Indonesia

CBL Group, one of Sri Lanka’s largest diversified food manufacturing conglomerates, yesterday (21) announced the strategic acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large coconut processing facility, with an investment of over USD 25 million. TJT has a workforce of over 800 employees.

The investment was supported by the International Finance Corporation (IFC), a member of the World Bank Group, the group said in a press release.

The acquisition forms part of CBL Group’s broader global expansion strategy, aimed at strengthening its presence in the fast-growing value-added coconut and coconut-based products segment, while building scale and resilience. Indonesia is the world’s largest coconut-producing country.

The statement quoted Shea Wickramasingha, Group Managing Director of CBL Group as having said: “This acquisition is a strategic step in increasing capacity and enabling geographic risk mitigation, with the objective of strengthening our market share in the global coconut milk category. The Indonesian factory will also enable us to further leverage Indonesia’s trade agreements with several export markets.”

Global demand for coconut-based products continues to rise, driven by growing consumer preference for plant-based, natural, and functional ingredients. The global coconut products market is projected to reach nearly USD 12 billion by 2030, presenting significant opportunities for value-added exporters. In Sri Lanka, coconut and coconut-based exports surpassed the USD 1 billion mark in 2025, highlighting the sector’s growing importance to the national economy.

Randeewa Malalasooriya, Director / Chief Executive Officer – CBL Natural Cluster, and President Director – PT Tri Jaya Tangguh Indonesia, added: “While we are doubling our capacity in Sri Lanka, Indonesia is a critical hub in the global coconut industry. Bringing TJT into the CBL Group allows us to significantly scale our processing and manufacturing capabilities, strengthen supply-chain resilience, and better serve international customers. With this investment, we are targeting a substantial increase in production capacity, alongside the expansion of exports to key international markets, including Europe and the United States. Importantly, we remain committed to prioritising the local workforce, with plans to progressively add employment opportunities over the coming years as the business grows.”

The acquisition is expected to enhance CBL Group’s end-to-end coconut value chain, supporting product innovation, expanded export capacity, and improved access to key international markets.



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FSP complains of irregularities in a Guinness World Record event held in Sri Lanka

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FSP Secretary Duminda Nagamuwa speaking to the media outside the CIABOC yesterday

The Jana Aragala Sandhanaya yesterday lodged a complaint with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), calling for an investigation into Deputy Minister Sundaralingam Pradeep over alleged irregularities related to a Guinness World Record event held in Sri Lanka.

The organisation alleged that state patronage had been extended to a private company for the event and that large sums of money had been collected from around 5,000 families of participating students.

Speaking to the media, after submitting the complaint, Jana Aragala Sandhanaya National Executive Council member and Frontline Socialist Party (FSP) Secretary, Duminda Nagamuwa, alleged that the government had promoted the Bharatanatyam workshop, held on June 14, as an event that secured a Guinness World Record for the participation of the largest number of students.

He said a government politician had taken the lead in organising the event, attended by Deputy Minister Mahinda Jayasinghe.

Nagamuwa questioned the decision to provide state support for an event organised by a private entity, claiming that the Guinness certificate issued for the achievement had been awarded not to Sri Lanka or a state institution, but to a company.

“Why did the government provide state patronage to a private institution’s programme?” he asked.

He alleged that each of the approximately 5,000 participating students had paid Rs. 5,000, resulting in the collection of a substantial amount of money. He claimed that parents were also asked to pay additional amounts of Rs. 3,450 for logos and Rs. 2,350 for certificates.

Nagamuwa alleged that many families, from economically disadvantaged backgrounds, had incurred heavy expenses travelling to Colombo and staying there for several days for the event, with some families spending around Rs. 30,000 each.

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Opposition MPs sign motion demanding debate on prolonged failure to fill vacancies in superior courts

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Opposition MPs yesterday signed a motion demanding  an adjournment debate in Parliament on the prolonged failure to fill vacancies in Sri Lanka’s superior courts.

The motion, submitted under Standing Order 83(1), calls for a debate on the implications of leaving more than eight vacancies in the Supreme Court and the Court of Appeal unfilled for over six months.

The Opposition said the proposed debate would examine the impact of the vacancies on the administration of justice, the rule of law, the protection of fundamental rights and public access to justice, while urging the authorities to expedite appointments to the vacant posts.

The motion, bearing the signatures of Opposition MPs, is to be forwarded to Speaker Dr. Jagath Wickramaratne, for approval, to schedule the debate.

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Another Lankan desperado deported from Malaysia arrested at BIA

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The suspect being escorted out of the airport by police

Suranga Sanjeewa Karunaratne, alias ‘Matiya’, an alleged underworld gunman linked to organised crime figure Kehelbaddara Padme, was arrested on arrival at the Bandaranaike International Airport in the early hours yesterday.

Police said the suspect, a resident of Kotugoda, Yagodamulla, had been detained by Malaysian authorities and deported to Sri Lanka. Officers of the CID took him into custody upon his arrival.

Investigators said an Interpol Red Notice had been issued against the suspect.

Karunaratne is wanted in connection with the fatal shooting, near the Gampaha Magistrate’s Court, in July, 2022, in which alleged organised criminal ‘Paspodda’ was killed and several others sustained injuries.

Following preliminary questioning by the CID, the suspect was handed over to the Western Province North Crimes Division for further investigations. Police said a 72-hour detention order had been obtained to facilitate further inquiries.

by Norman Palihawadane ✍️

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