Business
Strong market confidence in JF Packaging IPO – HNB Investment Bank
Demonstrating renewed investor confidence in Sri Lanka’s capital market, HNB Investment Bank (HNBIB) has expressed strong optimism over the Initial Public Offering (IPO) of JF Packaging Limited, describing it as a “landmark and timely offering” poised to deliver significant long-term value.
Addressing the Investor Forum held at Cinnamon Life in Colombo recdently, Dr. Yavin Jayasekera, Chief Strategic Officer of HNB Investment Bank (Pvt) Ltd., said that market sentiment toward the IPO had been “overwhelmingly positive,” reflecting the appetite among institutional, high-net-worth and retail investors for well-structured equity offerings.
“The response we have received so far is nothing short of phenomenal. The online applications opened just a week ago, and by this afternoon we had already exceeded a thousand applications. This shows the depth of demand and the market’s hunger for opportunities like this, Dr. Jayasekera said.
He noted that the issue, which seeks to raise Rs. 600 million through the sale of 51.7 million new shares at Rs. 11.60 per share, represents “not merely a capital raise, but the beginning of an exponential growth phase” for JF Packaging.
“The issue is optimally priced and right-sized to meet the company’s objectives. From day one, investors will see tangible benefits to the company’s bottom line. The risk is not in investing in this IPO — the real risk is in not investing, given the momentum we’re seeing, he added.
Jayasekera highlighted that this was only the second IPO on the Colombo Stock Exchange in 2025, adding that lower interest rates, improving macroeconomic stability and positive market sentiment had created an ideal window for new listings.
“We are proud to be associated with JF Packaging — a resilient, future-ready enterprise. Their leadership, financial discipline and strategic clarity give us supreme confidence that this IPO will not just be successful, but phenomenal, he said.
Taking the discussion forward, Ms. Shivanthi Sugathadasa, Senior Assistant Vice President – Corporate Finance at HNB Investment Bank, provided an analytical overview of the IPO’s highlights, financial outlook, and valuation metrics.
She said the offering represents a 30.05% stake in the company, valuing JF Packaging at approximately Rs. 2 billion post-listing.
“The IPO price offers a potential 36.6% upside to investors based on our valuation models. The proceeds will primarily be used to settle specific term and import loans, thereby deleveraging the balance sheet and positioning the company for the next phase of growth, Sugathadasa explained.
Highlighting the company’s credentials, she described JF Packaging Limited as an “integrated one-stop packaging solutions provider” catering to both food and non-food sectors through its flexible packaging, PET products, plastic accessories, adhesive tapes and paper-based packaging divisions.
The JF Packaging IPO opens on October 30, 2025, and is managed and advised by HNB Investment Bank (Pvt) Ltd.
By Ifham Nizam ✍️
Business
Cross-border supply chains seen as key to new business opportunities
By Ifham Nizam
Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.
The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.
Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.
‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.
His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.
The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.
Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.
The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.
The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.
But the investment also has a distinctly local agricultural dimension.
Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.
That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.
Duckworth said this type of business partnership could generate benefits for both countries.
‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.
‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.
The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.
For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.
Business
Ideal Motors makes history with multiple workplace excellence accolades
HR-led transformation places people, culture and business performance at the heart of the organisation
Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.
Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.
The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.
At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.
These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.
Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.
Business
AAC takes seat belt safety message to Colombo motorists
The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.
AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.
The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.
AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.
The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.
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