Business
CEAT Kelani launches three new radial tyre variants in ‘Orion Brawo’ range
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Sri Lanka’s leading pneumatic tyre manufacturer CEAT-Kelani has introduced three new variants of high-performance radial tyres into the market, widening choice for a significant segment of vehicle owners, the company announced.
Joining CEAT’s ‘Orion Brawo’ range, the new radials are in the sizes 155/65 R14, 165/70 R14 and 165 R13, with the first two sizes designated for popular models of compact and small cars, and the third for mid-sized vans, the company said.
“These tyres both feature a tread pattern of a centre rib with three circumferential grooves and a high land area, which translate to improved tread life and higher resistance to impacts, cuts and other damage,” a news release said.
The 155/65 R14 is designed for Suzuki Wagon R, Daihatsu Mira ES, Daihatsu Hijet, Nissan Dayz and Honda N-WGN, while the 165/70 R14 fits Toyota Vitz, Toyota Aqua, Renault Kwid and Toyota Passo, seen in large numbers on Sri Lankan roads.
Meanwhile the CEAT Orion Brawo 165 R13 van radial sports a 4-rib high land design, angular notched rib pattern, a wide solid kerb rib and a highly reinforced belt that combine to deliver improved tread life, better durability, resistance to cutting and chipping and better load bearing. It is designed for Toyota Town Ace, Toyota Lite Ace and several other models of vans, the release explained.
The addition of these three tyres takes CEAT’s radial tyre portfolio in Sri Lanka to 58 variants, the company said.
“The launch of these tyres reflects our continuing commitment to cater to the tyre requirements of the full spectrum of vehicles in Sri Lanka, from the high-end European sedans and SUVs to the smaller family cars and vans,” CEAT Kelani Chief Operating Officer Shamal Gunawardene said. “The Orion range is priced to be affordable and competitive in the market, and is available at our dealer outlets island-wide.”
The largest domestic manufacturer of cross-ply and radial tyres in Sri Lanka, CEAT Kelani’s manufacturing operations encompass pneumatic tyres in the radial (passenger cars, vans and SUVs), commercial (Bias-ply and radial), motorcycle, three-wheeler and agricultural vehicle segments.
CEAT Kelani Holdings currently manufactures half of Sri Lanka’s pneumatic tyre requirements, exports about 20 per cent of its production to 16 countries and plays a significant role in helping the national economy conserve foreign exchange by reducing dependence on imported tyres.
Business
CEB urged to revise Draft Long Term Generation Expansion Plan, in view of renewable energy needs
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By Ifham Nizam
The Public Utilities Commission of Sri Lanka (PUCSL) has instructed the Ceylon Electricity Board (CEB) to revise its Draft Long-Term Generation Expansion Plan (LTGEP) 2025-2044, incorporating more robust projections for renewable energy and battery storage, while also reassessing LNG infrastructure and procurement strategies.
The Island Financial Review reliably learns PUCSL Director General Damitha Kumarasinghe emphasized the need for “more robust and realistic cost assumptions for Renewable Technologies and Battery Energy Storage Systems (BESS).”
The Commission stressed that BESS should be valued not just as a renewable integration tool but also for its potential to mitigate power shortages.
The directive also calls for revisions in LNG infrastructure planning, including “a comprehensive analysis covering LNG fuel cost calculation, infrastructure development, procurement contracting options, and risks associated with supply and procurement.” PUCSL has specifically highlighted the importance of evaluating the financial and economic feasibility of a natural gas pipeline from Kerawalapitiya to Kelanitissa.
Kanchana Siriwardena, Deputy Director General – Industry Services, reinforced the Commission’s stance on renewable energy, stating that “further reductions in renewable energy curtailment should be explored by incorporating more BESS.”
The PUCSL’s instructions also mandate incorporating clauses from the Memorandum of Understanding (MoU) with Petronet India, which includes a temporary LNG supply for the Sobadhanavi Plant. The revised LTGEP must also factor in infrastructure costs related to the Floating Storage Regasification Unit (FSRU) and pipeline networks as part of the overall LNG cost calculation.
The CEB is expected to resubmit the revised plan for PUCSL’s approval, ensuring alignment with Sri Lanka’s long-term energy security and sustainability goals.
The PUCSL directive also calls for a comprehensive evaluation of various LNG procurement options and associated risks. These include:
LNG infrastructure development and expansion
Contracting options for LNG procurement
Risks related to LNG supply and procurement stability
Robustness of natural gas demand calculations
Economic feasibility of the proposed natural gas pipeline from Kerawalapitiya to Kelanitissa, given the low plant factors of power stations at Kelanitissa.
Business
Nations Trust Bank ends 2024 with strong performance, achieving 24% ROE
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Nations Trust Bank PLC reported strong financial results for the twelve months ending 31st December 2024, achieving a Profit After Tax (PAT) of LKR 17 Bn, up 46% YoY.
Nations Trust Bank, Director & Chief Executive Officer, Hemantha Gunetilleke, stated, “The Bank’s performance for the twelve months ending 31st December 2024 showcases our continued growth and expansion across diverse customer segments. Our solid capital position, strong liquidity buffers, effective risk management frameworks, and steadfast commitment to service excellence and digital empowerment remain the key drivers of our success.”
Improvements in the macro-economic environment and successful management of the Bank’s credit portfolio resulted in total impairment charges decreasing by 69% and the Net Stage 3 ratio reducing to 1.6%.
The Bank’s financial performance is supported by its strong capital buffers, with Tier I Capital at 21.47% and a Total Capital Adequacy Ratio of 22.66%, well above the regulatory requirements of 8.5% and 12.5%, respectively.
A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 320.56% against the regulatory requirement of 100%.
The Bank reported a Return on Equity (ROE) of 24.22%, while its Earnings Per Share for the twelve months ending 31st December 2024 increased to LKR 50.82, against LKR 34.70 recorded during the same period last year.
Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through multi-channel customer touch points spanning both physical and digital. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.
Business
Modern Challenges and Opportunities for the Apparel Industry: JAAF drives industry dialogue
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The Joint Apparel Association Forum (JAAF), in collaboration with Monash Business School and the Postgraduate Institute of Management (PIM) successfully hosted the International Conference on the Apparel Industry 2025 recently in Colombo. This was the second time the event was held, following its inaugural edition in 2018, as part of JAAF’s commitment to fostering dialogue and collaboration within the global apparel sector.
Themed “Modern Challenges and Opportunities for the Apparel Industry”, the three-day event brought together industry leaders, academics, and sustainability experts to discuss pressing issues such as ESG (Environmental, Social, and Governance) compliance, circular economy strategies, technological advancements, and workforce transformation.
A key highlight of the event was the panel discussion on “Current Actions and Their Impact on ESG-Related Outcomes in the Apparel Industry,” featuring:
Felix A. Fernando – CEO, Omega Line Ltd.
Nemanthie Kooragamage – Director Group Sustainable Business, MAS Holdings
Gayan Ranasinghe – Control Union,
Chamindry Saparamadu – Director General/CEO, Sustainable Development Council
Pyumi Sumanasekara – Principal Partner, KPMG Sri Lanka
Discussions emphasized how Sri Lanka’s apparel industry is adapting to global ESG standards, incorporating sustainable production methods, and aligning with evolving regulatory frameworks.
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