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Elephant House unveils ‘Feelgood’ guilt-free frozen confectionery range for customers seeking wellness and balanced lifestyles



Elephant House Ice Cream, Sri Lanka’s leader and iconic ice cream brand, recently unveiled ‘Feelgood’ its new guilt-free frozen confectionery range, supporting consumers who embrace wellness and balanced lifestyles.

Today, more individuals and households are focussing on wellness and mindful eating. This long-term commitment to health has propelled customers to make wellbeing a part of their daily routine including a reduction in sugar intake. However, that does not prevent the need to satiate cravings with no guilt attached.

Elephant House Ice Cream, as a truly Sri Lankan brand has always been associated with trusted quality and goodness, enjoyed by generations. A recognised market trailblazer, Elephant House Ice Cream continues to drive innovation in the industry to meet the rising health and wellness trends.

Understanding that consumers are exploring alternatives that are healthier and pose nutritional value, Elephant House now indulges the simple delights in life. The newly launched Feelgood collection of Frozen Yoghurt; Mixed Berry and Tropical Mango and No-Added Sugar; Chocolate and Vanilla, is crafted with carefully selected ingredients while providing a lightened indulgence. These guilt-free indulgent frozen desserts, can be even consumed as a snack during the day, helping customers stay on track with their wellness goals.

The Feelgood Frozen Yoghurt is probiotic appealing to the wide range of digestive health benefits. Moreover, the Mixed Berry and Tropical Mango Frozen Yoghurt offers an ice-cold treat using naturally sweet real fruit pieces to delight customers with healthy choices that are also guilt-free.

Similarly, the Feelgood No-Added Sugar ice cream range is also the perfect attribute for today’s health conscious consumer.

Reinforcing Elephant House’s commitment to using low-impact, environmentally friendly practices, modern innovative paper-based packaging has been used for the Feelgood range.

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Seven factors of concern at upcoming Monetary Policy Review



by Sanath Nanayakkare

The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.

In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.

* Foreign Reserves USD 3.1 billion – Dec 2021

* Inflation CCPI 12.1% – Dec 2021

* GDP Growth -1.5% – 3Q2021

* Private Credit LKR 60.5 billion – Nov 2021

* 03M T-Bill rate 8.38% as at 12.01.22

Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion

Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21

First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.

“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.

As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.

First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.

However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.

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Sri Lanka’s dash brand enters international markets



Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.

Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,

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Janaka Abeysinghe appointed SLT CEO



Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.

The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.

Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.

In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.

He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.

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