Business
Ex-Pack unpacks good 1st half
Ex-Pack Corrugated Cartons Limited, one of Sri Lanka’s leading manufacturers of corrugated cartons, has announced an excellent performance during the 1st half of FY2021/22, ending 30th September 2021. The Ex-Pack group has achieved a top line revenue of LKR 3.465 billion, against 2.065 billion during the same period in the previous year, recording a 59% increase, YOY. This was achieved amidst a subdued environment for manufacturing during April and May. Company turnover grew to LKR 2.319 billion, against LKR 1.460 billion the previous year. In terms of manufacturing volumes, Ex-Pack has achieved YoY growth of 17.4% during the 1st half, which is 7.7% above forecasts. The Company’s subsidiary, Neptune Papers (Private) Limited also posted volume growth of 13% for the same period under review.
Based on the 1st half results, Ex-Pack is on track to exceed its forecasted revenue of LKR 5.865 billion for the year. Given that the corrugated carton industry usually witnesses seasonal high demand during the 2nd half of the year, the Company is confident that it will beat all financial forecasts this financial year. During the 1st half of the year, PAT stood at LKR 200 million, against just 45 million during the same period in the previous year, during which performance was heavily impacted by the global pandemic. Earnings Per Share (EPS) for the 1st half stood at LKR 0.80.
Discussing Ex-Pack’s solid financials and sought-after IPO, Zulficar Ghouse, Managing Director said, “The numbers we are seeing are very encouraging. We have successfully managed to navigate one of the most turbulent times in global history, while still posting solid gains and delivering exceptional value to our shareholders. We take this opportunity to renew our resolve to maintain our position as one of Sri Lanka’s leading end-to-end corrugated cartons and packaging solutions providers.”
Ex-Pack Group Chairman, Sattar Kassim further added, “We are optimistic about the future, and look forward to expanding our production capacity through our soon to be commissioned 3-billion-rupee manufacturing plant, which will up our monthly capacity from 2,750 metric tons to 4,000 metric tons by 2025. We also take this opportunity to thank all those who subscribed to our IPO, and announce that trading of Ex-Pack shares will commence on the 10th of November 2021 under the ticker symbol, PACK, on the Colombo Stock Exchange.”
Ex-Pack’s product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons and a host of specialized products developed using recycled material. The Company has designed and engineered many innovative, world class products, including lightweight cartons for fresh fish, and garment on hanger cartons, for high-quality apparel to be shipped upright, hung on clothes hangers. Ex-Pack also worked with the Department of Elections to transform ballot boxes in Sri Lanka, crafting them out of corrugated cartons for the first time ever, enhancing security and mobility, during the 2020 General Election. The Company serves top corporate customers and brands, worldwide, across a range of industries including FMCG, consumer durables, apparel, tea and fisheries.
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
-
News5 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News4 days agoBid for Basil’s extradition nears final stage: Police
-
Features7 days agoThe emptying university: why are academics leaving?
-
Business5 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
News3 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
Opinion7 days agoWho committed genocide and created mass graves in Sri Lanka?
-
Opinion5 days agoA journalist who wrote across the divide
-
News2 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
