As the industry emerges from a tumultuous year, ALFT Packaging shows us how long-term planning and proactive thinking can enable a business to survive and even thrive in turbulent times. The organisation which recently celebrated its third anniversary was started with the intention of filling the growing need for technologically advanced, international standard, flexible packaging solutions, without having to rely on expensive imports for customers.
ALFT began with the coming together of several leading minds in the packaging industry, determined to engineer a solution that would satisfy demand and cater to future trends in packaging. The factory is purpose-built to meet international safety and hygiene standards and it’s the country’s only British Retail Consortium (BRC) “AA” certified flexible packaging facility. The production plant is designed to support automated machinery, and minimum handling. Further, underground cables are used instead of the usual overhead electric lines to prevent entrance points that could cause contamination, completely wallpapered interiors, stainless steel floors, and separate sections for every operation with its own temperature-controlled internal environment makes ALFT Packaging one of Sri Lanka’s most cutting-edge manufacturing facility.
The goal since inception was to provide packaging solutions in accordance with global health and safety standards making ALFT uniquely prepared for the post-pandemic world. ALFT Packaging was one of the few organizations designated as essential by the government during even peak lockdown periods as the organization played a vital role in supporting critical infrastructure, making it possible for manufacturers to meet consumer demand.
Rootcode wins Startup of the Year and People’s Choice Award at SAARC Startup Awards 2022
Rootcode, one of Sri Lanka’s leading tech companies, recently took home the “People’s Choice Award” in addition to being bestowed with the “Startup of the Year” title at the SAARC Startup Awards 2022. This regional recognition marks a significant milestone for the Sri Lankan tech space and workforce. Rootcode’s mission to build great tech is well underway, and it is gaining traction faster than ever.
This is the first time a Sri Lankan tech company has made a name for itself in the regional competition, and it is a watershed moment that has focused the global spotlight on Rootcode’s distinct approach to fostering innovation in Sri Lanka. This is also the first time that a Sri Lankan company was able to take home two awards of those presented at the SAARC Startup Awards.
Global Startup Awards SAARC celebrates the spirit of entrepreneurship and promotes bridging boundaries through innovation in its regions, which include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, by recognizing them with its most prestigious awards program, attended by top-notch entrepreneurs, corporates, investors, and ecosystem builders from Nordic, Central Europe, SAARC, and ASEAN regions.
Every year, the SAARC Startup Awards bring together hundreds of South Asian startups, entrepreneurs, investors, co-working spaces, and accelerators to provide a platform to highlight trailblazers in the region’s startup world. Rootcode was chosen ahead of dozens of other regional tech startups in the competition.
Sri Lanka is a relative newcomer to the South Asian startup fraternity, and Rootcode’s ability to represent the country on the global stage not long after its inception is remarkable.
“We are extremely humbled and honored by the support shown to us at the SAARC Startup Awards 2022, and being recognized under two categories is a huge milestone for us,” said the CEO and Founder of Rootcode Labs, Alagan Mahalingam. “We have always been driven forward by excellence, collaboration, and integrity, which I believe is the reason why we have come so far and why Rootcode continues to grow every day.”
Rootcode is driven by its focus on helping businesses build great tech not just locally but globally, and its achievement at the SAARC awards stands as a testament to that. Despite the challenging times, this is a win for Sri Lanka.
INSEE Cement felicitates Sri Lanka’s youngest Commonwealth medallist
INSEE Cement awarded aspiring wrestler, Nethmi Ahimsa Fernando, who won a Bronze Medal for Sri Lanka at the recently concluded Commonwealth Games in Birmingham, LKR 1 million cash reward, to support her to pursue her passion. Suranga Kumara, her coach, also received LKR 250,000 cash reward, in appreciation of his contribution towards Nethmi’s recent achievements. INSEE Cement has also pledged to support Nethmi’s aspiration to represent Sri Lanka at the 2024 Olympic games, while also providing the entire cement requirement for the completion of her new house, which is presently under construction, in collaboration with the Manusath Derana initiative.
Textile maker Teejay knits strong start to 2022-23
Q1 revenue more than doubles to Rs 23.9 billion
Teejay Lanka PLC has made a positive start to 2022-23 posting Group revenue of Rs 23.9 billion for the three months ending 30th June 2022. The Group achieved nearly half its full-year revenue of 2021-22 in just the first quarter of the new financial year as a result of the low base of the previous financial year due to the impacts of COVID, the depreciation of the Rupee and the passing on of yarn price increases during the last quarter.
In a filing with the Colombo Stock Exchange (CSE), Sri Lanka’s largest textile manufacturer said it had also recorded significant growth in pre-tax and net profit at both Group and Company level in the quarter reviewed.According to interim financial statements, Group profit before tax for the three months grew by more than Rs 1 billion or 291% to Rs 1.5 billion, while Group net profit for the period was up 301% to Rs 1.2 billion.
At Company level, revenue improved by 108% in the quarter under review to Rs 12.9 billion, while profit before tax grew by 323% to Rs 1.5 billion, and net profit increased by 311% to Rs 1.3 billion.
Domestic debt restructuring will cripple EPF, ETF – JVP
Powerful CEBEU says yes to restructuring but on its terms
SJB opposes blanket privatisations
‘Dates have the highest sugar content to fight Coronavirus’
U.S. Congress to probe assets fleecing by US citizens of Sri Lankan origin
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