Business
Nestle products become further price competitive in international markets
Amidst weakening of rupee two ‘constructive gains’ for Nestle
by Sanath Nanayakkare
Amidst the weakening of the rupee, there exists two constructive gains for Nestle, a corporate update issued by First Capital on Nestle Lanka Plc. states.
# 1. Nestle products become further price competitive in international markets.
# 2. The inflow of foreign exchange,
Coconut Milk Powder is the salient product boosting export revenue contribution to 20% supported by Nestomalt and Milo, it notes.
The update further says:
Key products: Nestomalt and Milo is expected to drive domestic revenue to reach new highs on
the back of revival in volumes supported by Maggi noodles and Maggi Coconut Milk Powder.
The negativity attached in the recent past regarding the sugar content in Milo and excessive lead as well as mislabeling over flavour enhanced MSG in Maggi noodles have been handled by the company by taking necessary measures of reducing sugar content and better product awareness, First Capital Research notes.
NESTLE sources their milk 100% locally with the utilization of milk collection points and chilling centers across the island. However, Nestle has 14,000 dairy farmers who already price their milk at
a competitive price point. The recent price cap on coconuts has an indirect impact on Nestle’s cost of
sales as they collect the coconuts from farmers. Notably, the coconut procured is a
result of “NESTLE coconut plan” where Nestle enables coconut cultivation by aiding farmers and indirectly purchasing nearly 90 million coconuts a year. Further, the Maximum Retail Price
(MRP) set at a maximum of Rs. 70 per coconut may benefit Nestle, the report says.
“We upgrade Nestle’s fair value to Rs.1,500 for 2021 (estimated), First Capital notes.
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.
-
News4 days agoMastermind Naufer Moulavi among 15 found guilty
-
News6 days agoHatton youth protest against reported death sentence for Lankan in Saudi Arabia
-
News5 days agoProtest against setting up of cement factory in highly populated area near BIA
-
News6 days agoMahaweli rises as heavy rain triggers flood, landslide fears
-
Latest News7 days agoLandslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya
-
Midweek Review4 days agoThileepan’s fast unto death: An authentic narrative that many missed
-
Editorial4 days agoBig Bad Bills
-
Latest News3 days agoShowers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara Districts
