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‘Be Sri Lankan, Buy Sri Lanka’, indicator of ‘product excellence’



Institute of Packaging committee

By Steve A. Morrell

‘Be Sri Lankan, Buy Sri Lanka’, was not only a marketing blurb but carried with it integrity of product excellence and added prestige to local products, newly-elected president of the Institute of Packaging Rohan Wijesinghe said. He was elected 46th president of the Institute recently.

Past president Anuradha Jayasinghe introducing the in-coming president said the fact that the mantle of office is moving to another year of progress for innovation and a new focus on priorities meant that the Institute of Packaging was in consonance with the changing times. The exigencies and challenges in the context of the unavoidable incidence of the on-going pandemic posed new priorities to be addressed. Taking office in these times of extraordinary significance was important for the year ahead and it was with confidence that Rohan Wijesinghe was elected to the high office of president.

Jayasinghe added: ‘Rohan Wijesinghe’s background resume was that he is not new to leadership, having proved himself a professional both locally and internationally.

‘He represented Sri Lanka at the World Packaging Congresses in Japan and many other countries, including Germany, China, Taiwan, Australia, New Zealand, India, Thailand, Malaysia, The Netherlands, United Kingdom, Spain, Belgium, Dubai and Tasmania.

‘Mr. Wijesinghe successfully held the office of chairman, Twins Packaging Pvt. Ltd, Premium Packaging Solutions Pvt. Ltd. and other organizations who lauded his progress as outstanding contributions instrumental in their progress.

Rohan Wijesinghe accepting office said he was perhaps the first Catholic to be conferred the titles, Deshamanya, Desha Shakthi and Lanka Puthra.

Accepting the office of president, he paid tribute to the leadership of the Institute of Packaging which withstood the vicissitudes of time and through the 46 years or so of its existence continued to ensure the excellence of the essentialities of packaging to maintain high standards so essential for product marketing and presentation.

Wijesinghe said: ‘The packaging industry is now a crucial component for product marketing and effective shelf presentation. Its attractive features that are usually seen on product shelves are of distinct assistance to ensure product distinction and sustainability that contribute to value addition of such products. ‘Be Sri Lankan buy Sri Lanka’ was not only a marketing blurb but carried with it integrity of product excellence and adds to the prestige of each local product.

‘Demand for excellence was now a sophisticated necessity and the Institute of Packaging and its professional exactitude was necessary for product marketing and consequent public appeal.’

Rohan Wijesinghe’s Alma Mater is St. Anthony’s College, Kandy. He excelled in academic activity and was a true all-rounder. He represented the college in athletics and rugger and is a triple coloursman, having played basketball and tennis as well. He was also captain of the table tennis team.

Wijesinghe said out-going president Anuradha Jayasinghe, past president Rohan Victoria, Secretary – Social, Tania Francis, treasurer Sunil Costa and others who held office, continued to be actively involved with the packaging industry. Their expertise was etched in the progress of the Institute and ensured its continuous positive development.

His tributes to the past committee and outstanding personnel included Michael Perera, recipient of the life-time achievement award.

Michael Perera said packaging was now essential to minimize waste. He said it was now time that re-cycling was part of the packaging industry, in that it had to be addressed as a matter of urgency, because of waste plastics that was now the bane of goods and services. As much as packaging was important, the conversion of waste and its recycling was urgent and cannot be ignored. Particularly because waste from other countries too was carried to our shores, which was a growing problem.

Outgoing president Anuradha Jayasinghe expressed his appreciation to his committee and assured the Institute of his continuous interest in its activities.


CSE expected to maintain growth momentum in the wake of brighter IMF bailout hopes



By Hiran H.Senewiratne

The CSE will be able to maintain its growth momentum with IMF bailout prospects brightening this week. Consequently, foreign inflows to the CSE will improve in the future, Head-Market Development, CSE, Niroshan Wijesundara said.

“To date the CSE has been able to register a 14 per cent growth and with the IMF bailout approval we could expect more foreign inflows into the market, Wijesundera told the Island Financial Review.

Amidst these developments the market ended on a positive note at the end of yesterday. Initially there were mild profit- takings but this did not negatively impact the overall performance of the market.

Accordingly, shares edged up in mid-day trade yesterday while investors adopted a wait- and -see approach as the country looked forward to IMF approval on the Extended Fund Facility towards the end of this week.

“Investors are on a wait- and- see approach as the IMF is likely to approve the US$ 2.9 billion dollar loan, market analysts said.

“Selling pressures have eased and now buying sentiments are improving, analysts said.

The ASPI went up by 29.54 points, while the most liquid S&P SL20 index rose by 15.7 points. Turnover stood at Rs 1.8 billion with three crossings. Those crossings were reported in Hemas Holdings, which crossed three million shares to the tune of Rs 199 million, its shares were quoted at Rs 65, Hayleys 738,000 shares crossed for Rs 59.8 million, its shares traded at Rs 31 and JKH 290,000 shares crossed for Rs 42 million, and its shares fetched Rs 141.

In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 209 million (30.8 million shares traded), JKH Rs 84.6 million (584,000 shares traded), Access Engineering Rs 79.5 million (4.9 million shares traded), LOLC Finance Rs 75.4 million (10.9 million shares traded), Union Bank Rs 62.9 million (6.7 million shares traded), Expolanka Holdings Rs 60 million (420,000 shares traded) and SLT Rs 57.5 million (687,000 shares traded). During the day 98.7 million share volumes changed hands in 20000 transactions.

Top gainers during mid- hours were Commercial Bank, Browns Investment and Access Engineering. Access Engineering is an unusual top contributor and this is because interest had been generated in it after assurances had been given on the IMF deal and there is an assumption that multilateral projects are likely to begin with the IMF restructuring process coming to a close, market analysts said.

Sri Lanka’s growth will be contained at a negative 3 per cent in 2023 after a 12.4 per cent shrinkage in the fourth quarter of 2022 and is expected to turn positive from next year, State Minister of Finance Ranjith Siyambalapitiya said. Siyambalapitiya told reporters on March 18 that Sri Lanka can expect a “positive economy” in 2024.

Yesterday the rupee opened stronger and was quoted at around Rs 330/338 to the US dollar, stronger from Friday’s close of Rs 337/345 to the US dollar, dealers said.

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“Surfing Through the Crisis”



EY Sri Lanka, is scheduled to host a discussion ‘Debt Restructuring Implications to the Financial Services Sector’, on March 22, from 08:45 am to 12:30 pm at The Kingsbury Colombo. The session branching under the theme, ‘Surfing through the Crisis’, is designed specifically for CEOs, CFOs, and CRO of the financial sector, as well as the chairpersons of the Audit Committee and the Board Integrated Risk Management Committee. The event hopes to create value for Sri Lanka’s financial sector amidst the prevailing economic challenges. As the largest service providers to the financial sector in terms of audits, tax, consultancy, and strategy & transaction, EY Sri Lanka feels compelled to assist the financial sector as they navigate the challenges of the economic crisis.

Despite the expected positive outcomes of debt restructuring, the process itself can be painful for the country, financial institutions, debtors and creditors. To the financial services sector specifically it could bring several challenges to capital management, financial reporting, Credit Risk and Liquidity Risk management strategies.

This session will explore these implications, under two technical segments, from Risk Management and Accounting lenses, and the mechanisms required for an effective transition. From a Risk Management perspective there will be several simulations on how it affects the financial institution’s capital and profitability whilst the accounting perspective will include discussions relating to how the debt restructuring process shall be accounted for in line with SLFRS 9 Financial Instruments.

The event will be conducted by Manil Jayesinghe, Country Managing Partner of EY Sri Lanka and Maldives, and Rajith Perera, Partner Financial Accounting Advisory Services EY Sri Lanka. To register for the session, or for further inquiries please contact Nurani Rajapaksha (

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Participants of Raid Amazones 2023 arrive from Paris on SriLankan Airlines



The participants of the adventure trail ‘Raid Amazones 2023’ arrived at Bandaranaike International Airport on SriLankan Airlines’ flight UL 564 from Paris. SriLankan Airlines is the Presenting Partner of Raid Amazones and extended a warm welcome with a traditional flare to the arriving group.

The group boarded the Udarata Menike train from the Gampaha Railway Station shortly thereafter for a scenic journey to Kandy, where the trail will unfold from 22 – 28 March.

Raid Amazones is the world’s only itinerant women’s adventure race. Nearly 250 female athletes will be participating in the 21st edition of the trail in Kandy.

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