Business

Thai Sumeda incense sticks break into Canadian market

Published

6 years ago

2020/10/16

By Steve A. Morrell

Thai Sumedha incense sticks exported to many countries have now broken into the Canadian market. Hitherto, India was the main exporter of this commodity. Breaking into the trade was extremely difficult, said sole proprietor Sumedha Elpitiya at the recent launch of Sumedha incense sticks exports to Canada.

Minister of Trade Bandula Gunawardena and Minister of Industries Wimal Weerawansa were Joint Guests of Honour at the launch of this commodity to be exported to Canada.

Addressing the audience Minister Gunawardena said until recently our traditional exports were those commenced during the time of the British, who concentrated on the export of tea, rubber, coconut and other commodities. But all such products, although originating in this country, were products that were introduced by others . However, in this instance, the export of incense sticks under the brand name Thai Sumedha was a break from what we have been accustomed to. That too to a Western market like Canada, where similar products are perhaps not popular.

‘Irrespective of such a restrictive trade atmosphere, Thai Sumedha incense sticks to Canada marks a new chapter in exports, with the ‘Made in Sri Lanka’ brand that could be used in such export products . The President, informed of this product and the ground breaking reality of such exports reiterated support that the government would extend to ensure the product would reach more international markets, the minister said.

‘Incense sticks were traditionally exported by India to most other countries. Thanks to efforts of Sumedha Epitiya, it is now significant that such products are exported to other countries and reports are that such products were extremely well received. Value of exports of this product according recent information is now $ 22 million . The Cabinet was fully briefed on the firm quality of the product and Cabinet support too would be forthcoming, Gunawardena added.

Minister of Industries, Wimal Weerawansa after launch of the ceremonial package of Thai Sumedha Incense sticks destined to Canada said industries of such innovation and breaking with tradition will be supported by this government.

He said his ministry, the Ministry of Industries , responsible for such industries, would respond positively and encourage their expansion.

Chairman, Thai Sumedha Incense Sticks said while in Thailand to buy garments for his apparel outlet, he decided to visit temples in Bangkok and met a Sri Lankan monk . The monk advised him to develop high quality packs of incense sticks. He said he was diffident at first, that his products may not be marketable, but because of his strong entrepreneurial mind, set up its manufacture and production. In tribute to the origins of this product, he branded the product Thai Sumedha Incense Sticks. Combining the words Thailand and his own name Sumedha.

He was conscious of yet an un explored market and was determined to establish quality that would ensure his product would be accepted internationally.

Thai Sumedha Incense Sticks are now exported to the US, Australia, Germany, Malaysia, Hong Kong, Maldives, Tanzania, Czechoslovakia , UK, Singapore, and Lithuania. Exports to Canada were inaugurated that evening.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

4 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

5 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

5 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.