Business
LAUGFS Lubricants expands its international market presence to Bangladesh
Illustrating the Company’s robust presence and the global expansion drive, LAUGFS Lubricants, the only home-grown, innovation-led lubricant brand in Sri Lanka, recently expanded its presence to Bangladesh. A fully owned subsidiary of LAUGFS Holdings, LAUGFS Lubricants has been offering lubricant solutions for every class of motor vehicle since its inception in 2008. As the only Sri Lankan Company with its own lubricant blending license, LAUGFS Lubricants has become a dominant player amongst multinationals.
“In spite of the pandemic-driven challenging macro-economic conditions that prevail across the globe, we at LAUGFS Lubricants have been able to steer forth strongly to achieve our goals through adopting a pragmatic and market sensitive approach. Our expansion into Bangladesh is the first step in our global expansion drive, a comprehensive journey that we have chartered for the Company. As such, this is a proud moment not only for LAUGFS Lubricants but also for Sri Lanka as a nation,” commented LAUGFS Holdings Limited Group Chairman, W. K. H. Wegapitiya.
LAUGFS Lubricants combines global technology and local expertise through conducting extensive research and development to manufacture lubricants that suits the tropical climate experienced in Sri Lanka and rest of the South Asian region. The unique lubricant formulations that LAUGFS Lubricants continue to offer are created cutting-edge research and innovation combined with the unmatched experience and insights LAUGFS has gained in the local lubricant industry.
“Expanding our presence to Bangladesh is an important milestone in our strategic journey. As a truly Sri Lankan conglomerate with entrepreneurial beginnings, we are pleased to be on track, in our strategic path to grow in a sustainable manner to build a global presence as a trusted, profitable and viable multinational. Our growth efforts reach beyond Company goals to become champions of propelling the Sri Lankan economy on an upward trajectory,” said LAUGFS Holdings Limited Group Deputy Chairman, Mr. Thilak De Silva.
Established in 2008, LAUGFS Lubricants offers a range of high quality automobile and industrial lubricant products. The Company holds ‘Original Equipment Manufacturer (OEM)’ approvals for Volvo, Renault and Porsche vehicles and is the only Sri Lankan lubricant company to hold licenses from the American Petroleum Institute, which defines global industry standards for motor oils.
LAUGFS Holdings Limited is one of the largest diversified business conglomerates and a trusted and well-loved home-grown business in Sri Lanka. Founded in 1995, LAUGFS today has expanded across 20 industries in Sri Lanka and overseas, establishing a strong presence as a leader and pioneer in the power and energy, retail, industrial, services, leisure, and logistics sectors. With over 3,500 employees and an annual turnover exceeding Rs. 60 billion, LAUGFS continues to expand and empower millions as a trusted Sri Lankan brand.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
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