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Expolanka Holdings acquires three US logistics companies

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By Hiran H.Senewiratne 

Expolanka Holdings PLC  acquired three logistics companies in the US for US$ 2.2 million to expand its logistics operations based out of New York’s John F. Kennedy (JFK) International Airport, stock market analysts said.

Expolanka revealed that its subsidiary acquired 100 percent stakes in New York- based Seville Container Freight Station Inc., Seville Freight Systems Inc. and Seville Transfer Ltd. for a purchase consideration of US$ 2.2 million on March 1, this year, a market disclosure revealed last week.

“Seville is a bonded container freight station (CFS) and a bonded trucking company located in the strategically important John F. Kennedy Airport in the United States of America, the disclosure said.

Towards the end of last year Expolanka launched its new JFK office and facility in a grand opening event.

Seville Container Freight Station Inc. is categorised as a general warehousing and storage firm while Seville Freight Systems is categorised as a transportation consultant and Seville Transfer Ltd. as a local general freight trucking firm, informed sources said.

Yesterday, CSE activities got off on a positive note but during the latter part of the day they turned negative. The reason being that the UNHCR amended resolution on Sri Lanka has increased worries for stock market investors. Further, a gloomy economic condition is adding insult to injury. Due to these external factors, stock market investors are psychologically affected, market sources said.

Consequently, both indices moved downwards. All Share Price Index went down by 87.07 points and the S and PSL20 declined by 25.24 points. Turnover stood at Rs. 812.4 million without a crossing. 

In the retail market, top five companies that mainly contributed to the turnover were; Dipped Products Rs. 95.6 million (1.9 million shares traded, Sampath Bank Rs. 92.2 million (595,000 shares traded), Expolanka Rs. 75.1 million (1.59 million shares traded), JKH Rs. 62.4 million (421,000 shares traded), and LOLC Rs. 50.4 million (164,0000 shares traded). During the day 31.5 million share volumes changed hands in 10346 transactions.

Citizens Development Business Finance PLC (CDB) raised Euro 5 million (around Rs. 1.15 billion) in Tier II qualifying capital, strengthening its capital ratios aimed at supporting its business growth. The Tier II qualified subordinated loan which has a tenure of five years has been extended by Triodos Microfinance Fund and Triodos Fair Share Fund which are two financial inclusion funds managed by Triodos Investment Management. Triodos Investment Management BV is a 100 percent subsidiary of Triodos Bank, one of the world’s leading sustainable banks with branches in The Netherlands, Belgium, United Kingdom, Spain and Germany. Triodos Investment Management is a globally recognised leader in impact investing.

Sri Lanka’s rupee quoted weaker at 197.50/198.50 levels to the US dollar in the one-week forward market on Monday while bond yields remained unchanged, dealers said. The rupee last closed in the one- week forward market at 197.00/198.00 to the US dollar on Friday.   

 

 



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Business

Seylan Bank offers amazing discounts for Avurudu

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With Avurudu just around the corner, Seylan Bank PLC is offering amazing discounts to customers purchasing daily essentials, electronics, clothing, gifts, and more. The bank with a heart will celebrate the New Year with “Ratatama Super, Avurudu Offers with Seylan Cards” and “Seylan Tikiri – Season of Gifts and Laughter”.

The bank with a heart, commenced these exciting offers and promotions to provide the best Avurudu experience to its customers young and old, and to reward them for their continued loyalty to the bank, in the spirit of festivity.

“At Seylan Bank, we want to make your Avurudu an unforgettable experience,” said Gamika De Silva, Assistant General Manager, Marketing and Sales at Seylan Bank. “These two promotions underscore our customer-centric approach which focuses on providing products and services that enhance the overall customer experience and convenience, adding value to your experience with the Bank with a Heart.”

The Bank has partnered with leading supermarket chains on selected promotions; with Keells offering 30% off on fresh meat during the weekends, Cargills providing 20% off on total bills during selected weekends, Glomark offering 20% off on the total bill on every Sunday for a limited time, Laugfs Super providing 20% off on a range of goods on every Monday for a limited time, and Premasiri Supermarket offering 20% off on vegetables & 10% off on fruits on every Wednesday & Thursday during the promotion period.

 

 

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OPPO launches Avurudu song to spread seasonal cheer

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OPPO recently launched an Avurudu jingle ahead of the Sinhalese & Tamil New year. Sung by OPPO brand ambassador & The Voice coach Umaria Sinhawamsa, the song also features popular personalities including actor& singer Gayan Gunawardena and choreographer Ramod Malaka& his dance troupe, Cool Steps.

The visual for the song has been shot in a scenic village atmosphere & features a host of New Year traditions of great cultural significance. The video also features the newly launched fan-favorite OPPO F19 Pro which is on offer during the season. On the first day of sales alone, the F19 Pro recorded a 200% increase in sales compared to its predecessor F17 Pro.

CEO of OPPO Sri Lanka Bob Li said: “This project helped us to immerse into Sri Lankan culture better. In keeping with the spirit of the season, evolving & upgrading, OPPO has launched two concurrent promotions: ERABADU WASI from 2-13 April & OPPO SERVICE WASI from 5 – 18 April.”

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SLIM elects new president and EXCO at 51st AGM

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The Sri Lanka Institute of Marketing (SLIM) held its 51st AGM, which saw the induction of its new President Thilanka Abeywardena, who will spearhead the Institute as its 43rd president. This appointment is a milestone in the history of the Institute as Ms. Abeywardena became the first ever female to hold the position of President.

The AGM was held on 7th April, 2021 at Marino Beach Hotel, Colombo. Both a new Council of Management as well as an Executive Committee were appointed during the meeting.

Thilanka currently holds the position of the CMO Lead, South East Asia Emerging Markets at Microsoft Sri Lanka (Pvt) Ltd. and leads marketing and communications across nine Asian countries; Bangladesh, Bhutan, Brunei, Cambodia, Laos, the Maldives, Myanmar, Nepal and Sri Lanka.

The newly appointed Executive Committee comprises ten experienced marketing professionals:

SLIM is the apex body for Marketing in Sri Lanka and has been promoting marketing excellence and elevating the status of marketing since 1970.

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