Hambantota International Port (HIP) had a robust start to the new year, with 6 supply cargo ships at the port in January 2022, discharging raw materials for the cement industry. The consignees were Lanwa Sanstha Cement Corporation (Pvt) Ltd., and INSEE Cement, leading cement manufacturers operating in the Southern part of the country. Both companies entered into strategic partnerships with HIP in the latter part of 2021, to increase their supply chain efficiency. HIP handled a total volume of 265,163.34 MTs of cement raw material for the 2 manufacturers in January this year.
Vessels Tang Binh 245, Unity and Dubai Crown carried shipments of clinker, gypsum and slag for Lanwa Sanstha Cement. These were the first ships calling at the port with raw material for Lanwa Sanstha Cement, following the signing of the agreement with HIP last year to establish a covered conveyor belt and two ship unloaders within the port premises. The facility which is currently under construction, will deliver raw material consignments directly to their manufacturing plant at the Mirijjawila BOI zone.
Tang Binh 245 at the Hambantota Port to discharge 27,607 MT of clinker.
“Two major cement manufacturers, INSEE and Lanwa are currently working with HIP. While HIP is developing and offering services as a multipurpose port it is also supporting industries and enabling the development of adjacent areas. As much as HIP will see a considerable increase in our bulk volumes, with the commencement of the Lanwa factory, we expect Lanwa Sanstha Cement to have a significant advantage through the logistical arrangements of our port operations,” says Johnson Liu, CEO of HIPG.
Thusith Gunawarnasuriya, CEO of Lanwa Sanstha Cement says their plant, which will be the first of its kind using cutting edge European technology, will soon commence operations. “We will commence manufacturing during the first quarter of this year and optimise production to meet market demand. We are very happy with our collaboration with Hambantota International Port, and the handling of our first three cargo ships for the year carrying raw material for our manufacturing process went smoothly. The port crew was efficient and worked with remarkable speed, which is of great value to us,” he said.
There were 3 consignments of clinker and slag for INSEE Cement also in January. INSEE who has worked with HIP since 2018 was the port’s first customer for dry bulk cargo, enabling the port to handle a volume of over 1 million metric tonnes for them last year.
The Hambantota International Port expects their partnerships with the two cement manufacturers to strengthen their supply chains and productivity, enabling them to meet the high demand for cement in the construction industry. HIP, which is on a steady track to becoming a fully functional multi-purpose port, with continuous testing of its systems for optimum efficiency, is now delivering productivity levels setting benchmarks in the region.
CSE Director Board appoints new chairman
The Chairman of the Colombo Stock Exchange (CSE) Dumith Fernando who has served in this role since July 01, 2020, has informed the Board of his intention to retire by rotation on June 23, 2022 at the conclusion of his current term as a Director. Subsequently, at its regular monthly board meeting held on May 19th, 2022, the Board of the CSE has elected Director Dilshan Wirasekara to succeed Fernando as Chairman with effect from June 24th, 2022. Wirasekara is currently Director and Chief Executive Officer of First Capital Holdings PLC.According to the Articles of Association of the CSE, it’s Chair is chosen from among the five Directors elected by the members of the CSE. The appointment of Wirasekara is in line with the CSE’s normal board succession practice.
The outgoing Chairman Fernando said that “We are very pleased with the advancement of the CSE in the last 2 years. The market has set records across capital raising, trading volumes and participation alongside significant wealth creation for investors. The CSE is also financially stronger than it has ever been, and I am pleased to hand over my role following the institution’s highest-ever profitability and capital reserves position. Credit for this is due to my fellow board members, management and staff as well as all those stakeholders who collaborated with us including our regulator the Securities & Exchange Commission of Sri Lanka and the stock broking and investor communities.”
Commenting on the appointment of his successor, he further stated “I have had the pleasure of serving as a Director with Dilshan for five years where he has been a critical and energetic member of the board. The board and I have full confidence that he will continue to work with all stakeholders to build on our recent efforts to transform into a modern-day multi-product exchange. I look forward to supporting Dilshan over the next few weeks to ensure a smooth transition.”Wirasekara thanked both the outgoing chairman for his leadership of the CSE over the last 2 years and the CSE Board for the confidence placed in him. He further stated, “I hope to continue the good progress at the CSE and look forward to working with the Board and the CSE team together with the regulator and the industry to advance our ambitious capital market development plans.”
SLIM Research Bureau embarks on a mission to promote fair trade in Sri Lanka
As corporates and consumers globally are shifting towards best practices such as sustainability, inclusivity, and most importantly, equality to all, “fairness” has become a significant part of how business and buyer decisions are made.With this in mind, SLIM Research Bureau, the research arm associated with the Sri Lanka Institute of Marketing (SLIM), recently signed an agreement with Fairtrade NAPP at SLIM Home, in aspiration of promoting fair trade and consumption of fairly traded products in the local market of Sri Lanka.Through this collaboration, SLIM Research Bureau and Fairtrade intends to launch a project – named “SRI-PROM” funded by AICS, the Italian Agency for Development Co-operation, and supported by Fairtrade Italy – that aims to contribute to the social and economic strengthening of rural areas in Sri Lanka, through the development of much more profitable eco-sustainable supply chains for small farmers.
Commenting on the partnership, SLIM President Mr. Nuwan Gamage stated: “SLIM is thrilled to enter into this milestone partnership with Fairtrade NAPP to instil globally accepted best practices within the corporate circle that help achieve fair, equitable trade relationships. The project will be the first step in inviting businesses across industries to become a trailblazer that sets an example both in Sri Lanka and around the world. We look forward to expand these efforts further in the days to come.”The modern concept of fair trade refers to the ethical and sustainable sourcing of products, where workers and farmers at the foundational level of supply and value chains are treated fairly. This, in turn, offers consumers a powerful opportunity to reduce poverty through their purchases.
Fairtrade International Programme Consultant for Sri Lanka, Standards Committee Chair, and Oversight Committee Asia-Pacific Representative Mrs. Iresha Sanjeewanie noted: “Fairtrade takes a 360-degree approach to address a number of different issues and developmental challenges faced by small-scale producers and workers. Though Fairtrade Standards are a glum eye-opener into the implications of unfair trade, in a broader sense, it advocates reform-oriented research and pushes to raise the bar in trade.”
Bank of Ceylon sponsors Annual Sand Paving Ceremony at Jaya Sri Maha Bodhi Temple Anuradhapura
Invoking the blessings of the sacred “Jaya Sri Maha Bodhi” situated in the historic city of Anuradhapura, on the country and on all its citizens, for peace, harmony and prosperity, the Bank of Ceylon conducted its annual ceremony of strewing fresh sand which is known as “weli Athirime Pinkama” in “Uda Maluwa” recently.
The ceremony took place with the participation of the Bank’s General Manager K.E.D. Sumanasiri, DGM Corporate and Offshore Banking Priyal Silva, DGM Human Resource Dhamma Wijeyawardhene, DGM Branch operations and Development Banking Nilantha Meneripitiyage, AGM North Central Province Mahinda Bandara, AGM Marketing Aruna Hettiarachchi, AGM North Western Mrs.Ruchindra Perera and other staff members. The event was organized by the Bank’s Assistant General Manager North Central Province (NCP) G.K.G. Mahinda Bandara and staff members of the NCP province with the guidance of the Atamasthanadipathi of Anuradhapura, the Most Venerable Dr. Pallegama Siriniwasa Thero.
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