Business
Ex-Pack Corrugated Cartons going for IPO to raise funds for factory expansion
‘Ever-increasing demand for corrugated carton products’
By Hiran H.Senewiratne
Ex-Pack Corrugated Cartons Ltd. will go for an Initial Public Offering (IPO) which is to be closed on October 22. The aim of the IPO is to raise funds for a major factory expansion facility to cater to the ever increasing demand for corrugated carton products.
“It is with great pleasure that we welcome the public to consider joining us on our journey towards emerging as the most preferred corrugated cartons supplier in Sri Lanka. At present, our 295-strong team produces 2,650 metric tons (MT) of corrugated cartons per month at our 203,000 square-foot facility, Managing Director, Ex-Pack Corrugated Cartons Ltd. Zulficar Ghouse said.
Ghouse said the company has designed and implemented a comprehensive medium to long-term growth strategy, which includes a new, ultramodern Rs. 3 billion production plant, for which the company has already secured the bulk of funds internally and through debt financing. This new plant will almost double the company’s capacity to 4,000 MT by 2025.
The media conference to announce the IPO was held yesterday at the Cinnamon Grand Hotel, Colombo.
Ghouse added: “The estimated Rs. 700 million we intend to raise through our IPO will be channeled towards this effort, giving us maximum potential for growth. I take this opportunity, in advance, to welcome our new shareholders and thank all investors who subscribed for placing their faith in us.
“The company is planning to set up a new factory on a ten-acre land. The funds that are coming from the IPO will used for that purpose.
“The company’s prospectus has already been officially published on the website of the Colombo Stock Exchange (CSE). Ex-Pack is a wholly owned subsidiary of Aberdeen Holdings, previously known as Expolanka Investments, one of the most diversified of family businesses for over 30 years.”
“Managed jointly by Capital Alliance Ltd. and Asia Securities Ltd., Ex-Pack Corrugated Cartons is expected to offer 83,333,333 ordinary voting shares at a price of Rs. 8.40 per share through its IPO, resulting in a projected market capitalization of Rs. 2.8 billion. This translates into an estimated forward PER of 7.7x for FY22 and implied TTM PER (as at August 2021) of 8.9x, Senior Vice President- Head of Equity Capital Market Rizny Faisal said.
Ex-Pack Corrugated Cartons has spent over two decades in the packaging industry while acquiring an extensive clientele comprising corporates and brands from over eight countries. In Sri Lanka, Ex-Pack leads in production and exports which account for 52% of revenue being generated in US dollars. The company has emerged as a full-service corrugated cartons solutions provider, currently producing one out of every five cartons in Sri Lanka.
The company’s product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons, and a host of specialized products developed using recycled material. Ex-Pack also worked with the Department of Elections of Sri Lanka in transforming ballot boxes by crafting them out of corrugated cartons during the 2020 general election. The company serves top corporate customers and sectors worldwide, including FMCG, consumer durables, apparel, tea, and fisheries.
Business
The Ceylon Chamber’s Commercial Document Registration Division expands export support
The Commercial Documents Registration Division (CDRD) of The Ceylon Chamber of Commerce has expanded its export support services with the introduction of the Free Sale Letter for Pharmaceuticals, providing Sri Lankan pharmaceutical manufacturers and exporters with an additional document certification service to support their export processes and compliance requirements in international markets.
The new service expands CDRD’s portfolio of trade documentation solutions, which includes Certificates of Origin and the certification of key commercial documents required by overseas buyers, customs authorities, and regulatory bodies. These services assist exporters across sectors by helping ensure their documentation meets applicable requirements for international trade.
Established in 1925 as one of the authorised institutions to issue Certificates of Origin in Sri Lanka, CDRD has supported the country’s international trade for nearly a century. Today, the Division provides certification and verification services to exporters, manufacturers, freight forwarders, logistics providers, and other trade stakeholders, supporting businesses in meeting documentation requirements for global markets.
In addition to pharmaceutical certification, CDRD facilitates the certification of Commercial Invoices, Packing Lists, Price Lists, Health Certificates, Phytosanitary Certificates, Certificates of Analysis, Bills of Lading, Survey Reports, Beneficiary Certificates, and other export-related documents. The Division also issues Free Sale Letters and Surveyor Appointment Letters, while supporting exporters through the Ministry of Foreign Affairs’ Electronic Document Attestation System (e-DAS), enabling secure and efficient document authentication.
Through established processes, digital solutions, and its e-service platform, CDRD continues to enhance the efficiency and accessibility of trade documentation services. Available 24/7 and 365 days of the year, the platform enables exporters to submit and manage documentation requirements conveniently while ensuring that certified documents meet internationally accepted requirements. By providing reliable documentation support and adapting its services to changing trade needs, the Division assists Sri Lankan businesses in managing export requirements and accessing international markets.
For more information on obtaining commercial document registration services, contact Achala via achala@chamber.lk / 0115588886
Business
Siyapatha Finance unveils newest branch in Bandarawela
Siyapatha Finance PLC recently expanded its island-wide footprint with the successful inauguration of its 64th branch in Bandarawela. Strategically located in scenic hill town in the Badulla District, the latest branch offers convenient and wider access to tailored, customer-centric financial solutions.
The branch was ceremoniously declared open by Siyapatha Finance PLC Chief Executive Officer (CEO) Mathisha Hewavitharana, joined by Chief Operating Officer (COO)Rajeev De Silva, Ms.D.M. Dewmi Tharindi, a student of Bandarawela Dharmapala Vidyalaya who won the Under-18 Girls’ 3,000m event at the Junior National Athletics Championship, the Senior Management and staff members as well as Traffic OIC Kandasami, Trade Association Secretary Sunanda Rathnayaka, representatives of the government and private banks and insurance companies and well-wishers.
Sharing his thoughts, Siyapatha Finance PLC CEO Mathisha Hewavitharana remarked: “We are deeply honoured to be of service to the people of Bandarawela. Opening this branch is a pivotal step in our 2026 expansion strategy and a reflection of our commitment to strengthen our presence in Sri Lanka. It is a region that showcases potential for greater economic development primarily through the country’s traditional agricultural practices. We look forward to reaching as many different communities as possible in the coming years.”
The Bandarawela branch offers a comprehensive product portfolio including leasing, fixed deposits, gold financing, business loans, personal loans, fast draft, and factoring to Smart Pay, the Company’s bill payment facility. With a thorough understanding about the current socio-economic dynamics of the region, the well-trained team at the newest branch is dedicated to providing flexible financial solutions to aspiring individuals as well as small and medium-scale enterprises (SMEs).
Business
Dialog recognised as Sri Lanka’s Most Loved Service and Telecommunications Brand for third consecutive year
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has once again been recognised as Sri Lanka’s Most Loved Brand in the Service and Telecommunications sectors, while also ranking among the top Corporate Brands in the LMD Brands Annual. Marking its third consecutive year at the top of both categories, the recognition reflects the company’s commitment to enriching Sri Lankan lives and enterprises through technology, while creating value for customers, communities and the nation.
The accolades were awarded through the LMD Brands Annual survey, conducted independently by PepperCube Consultants on behalf of Media Services. Based on responses from 400 readers across Sri Lanka, representing a broad demographic and geographic mix, the survey identified the brands that resonated most strongly with consumers in terms of trust, loyalty and brand affinity.
Lasantha Theverapperuma, Group Chief Marketing Officer of Dialog Axiata PLC said, “Being recognised as Sri Lanka’s Most Loved Brand across both the Service and Telecommunications sectors is a meaningful endorsement of the trust and confidence that Sri Lankans continue to place in Dialog. This recognition reflects our commitment to understanding and serving the evolving needs of our customers while expanding access to digital connectivity, services and opportunities. As we continue to innovate and grow, we remain focused on creating value for communities and supporting Sri Lanka’s digital and socioeconomic progress.”
The recognition also reflects Dialog’s continued focus on innovation, customer-centricity and investments that support Sri Lanka’s digital future, including expanded 5G connectivity, AI-powered digital experiences and broader access to digital services.
Beyond connectivity, Dialog continues to support communities, livelihoods and the environment through initiatives such as Govi Mithuru, which provides AI-driven agricultural advisory services to over one million farmers, and Shishyadhara, which has enabled subsidy distribution to more than 450,000 underprivileged students. The company also continues to advance its Net Zero 2050 ambition through energy optimisation, renewable energy adoption and the expansion of solar-powered network infrastructure.
Further underscoring the brand’s standing among Sri Lankan consumers, Dialog was also recognised as the ‘Service Brand of the Year’ for the fifth time and the ‘Telecommunication Brand of the Year’ for the 15th consecutive year at the SLIM-KANTAR People’s Awards 2026.
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