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Expolanka Holdings reportedly looking for more acquisitions

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By Hiran H.Senewiratne

CSE’s most valuable listed entity Expolanka Holdings PLC yesterday disclosed that it is looking for more acquisitions.Expolanka said the company has submitted proposals in response to calls for expressions of interest for the acquisition of certain logistic companies in international markets in pursuance of its overall policy to expand its global business, CSE sources said.

“The Board wishes to emphasize, however, that such expressions of interest have not been accepted to date. Moreover, any finality to such transactions, if they are proceeded with, will be dependent on standard pre-acquisition procedures such as due diligence as well as corporate and regulatory approvals,” Expolanka said.

“The Board will ensure that the public will be kept duly informed of any progress,” it added.

During the last financial year, Expolanka made three strategic acquisitions investing $ 18 million in expanding its operations in the Americas.Amid those developments, CSE activities were bullish throughout the day and its shares gained on mid- market trade, pushed up by Expolanka shares following its corporate disclosure on acquiring a logistics company, brokers said.

“The market was mainly pushed up by Expolanka following its disclosure on acquisitions. However, the overall market is on muted sentiments,” top market analyst said. The All Share Price Index went up by 148.6 points and S and P S20 rose by 92.2 points. Turnover stood at Rs 1.6 billion sans a single crossing.

During the day, Expolanka shares contributed almost 50 per cent of the turnover and also 40 indices to the All Share Price Index. The Expolanka share price appreciated by 16 per cent or Rs 22.75. Its share price started at Rs 140.50 and at the end of the day it shot up to Rs 163.76. Due to these developments investor sentiment also improved remarkably during the day, stock market analysts said.

In the retail market top seven companies that contributed to the stock market/turnover were, Expolanka Holdings Rs 648 million (4.1 million shares traded), Lanka IOC Rs 205.1 million (1.1 million shares traded), Lankem Development Rs 68.9 million (2.3 million shares traded), ACL Cables Rs 67.6 million (925,000 shares traded), Sampath Bank Rs 61.7 million (1.9 million shares traded), LOLC Holdings Rs 39.4 million (116,000 shares traded) and Browns Investments Rs 37 million (7.2 million shares traded). During the day 43.6 million share volumes changed hands in 15000 transactions.Yesterday the Central Bank- announced US dollar buying rate was Rs 360.29 and the selling rate Rs 371.29. The inflation rate continues at around 70 per cent.



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Farmchemie becomes the first Sri Lankan owned company to receive FAMI-QS certification

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Farmchemie has obtained FAMI-QS certification being the first Sri Lankan owned company certified with FAMI-QS. FAMI-QS stands for Feed Additive and pre-MIxture Quality System, which compromises the safety of animal feed and the quality of processed goods in accordance with European regulation no. 183/2005 on animal feed. Farmchemie is a BOI approved leading manufacturer and exporter of animal feed additives and nutritional supplements in Asia. Farmchemie is equipped with a state-of-the-art manufacturing facility from Bühler, Switzerland to offer quality assured manufacturing services for world-renowned European brands as well as own brands under Farmstar. Farmchemie has already established their presence in numerous international markets such as India, Bangladesh, Nepal, Kuwait, Lebanon, UAE, Egypt, Thailand, Vietnam, Malaysia, Mongolia, Cambodia and Uganda. FAMI-QS will enable them to expand their markets including the European and USA.

“We are honoured to announce that Farmchemie becomes the first Sri Lankan-owned company to be certified with FAMI-QS in combination with ISO 9001: 2015 and Good Manufacturing Practices certification for animal feeding. By attaining FAMI-QS, we are able to anticipate the expectations of our clients for safe, high-quality goods by lowering the related risk and enhancing the quality of onsite feeds via a supply chain that is properly guaranteed. For that Farmchemie implements measures for Feed Fraud and Feed Defense according to FAMI-QS supply chain integrity module V2. We would like to express our heartfelt appreciation to our customers and suppliers for their continued support and dedication. We look forward to elevating the firm to new heights in the coming months and years, as our aims will always be centered on quality assurance and innovative manufacturing.” Managing Director Uditha Wanigasinghe stated.

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Exports Gold Award for Textrip

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Textrip Pvt Ltd, the export arm of the Elasto Group, was recently recognized, as the gold award winner for rubber and rubber-based products, medium scale category at the NCE Export Awards ceremony held recently in Colombo. The Chairman and Managing Director of Elasto Group, Mangala Gunasekera accepted the award at the gala event held at Shangri La Hotel. The national export awards ceremony, organized by the National Chamber of Exporters (NCE), recognizes and rewards Sri Lankan exporters on their performance in the international market.

“We always strive to manufacture high-quality rubber-based goods, using the latest technology, adhering to the highest international standards, and showcasing Sri Lanka on the global stage. I would like to thank our clients, locally and internationally for their continuous trust and my staff for their hard work and dedication. They are the pillars of our success,” Managing Director of Elasto Group, Mangala Gunasekera stated. Textrip products have obtained a number of national and international quality standards such as ISO 9001:2015, ISO 14001:2015, CET, REACH and their products are designed to adhere to the ‘Wellness Wisdom’ theme. The company works with over 100 top sports and wellness brands and exports to more than 30 countries including European countries and the United States. TEXSTRETCH Progressive Exercise Resistance Bands is one of the most popular products of the company. The product is a great full-body workout solution for users of any level.

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Sri Lanka Tourism returns to Spanish market after pandemic

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Spain is one of the fastest recovery markets for Sri Lanka Tourism after the pandemic and participation in FITUR argues well for the much-needed exposure for Sri Lanka as an attractive tourism destination for Spanish-speaking countries, contributing in a substantive manner to its overall growth strategy. Sri Lanka Tourism made the presence with the 28 private sector companies at 43rd edition of FITUR International Travel Mart which was held from 18- 22 January 2023, Madrid, Spain. FITUR is the largest tourism event in the Spanish Market where all the sectors leisure, business and MICE tourism meet under one roof.

Sri Lanka Tourism stall was ceremonially opened by Mr.Chalaka Gajabahu ,Chairman of Sri Lanka Tourism Promotion Bureau and Honorary Consul of Sri Lanka in Barcelona, Mr. Agustin Llana and representatives of the leading private sector members of Sri Lanka.

Sri Lanka was able to attract high level of attention from the trade and travel visitors attended at the event. The Sri Lanka pavilion highlighted many aspects of its potential culture, beauty, Ayurveda and many more which Sri Lanka would offer as a tourism destination. Sri Lanka stand optimized the “So Sri Lanka” and “Visit Sri Lanka” vivid sights to attract the potential visitor segments. At the Sri Lanka pavilion, Ceylon tea was served for the visitors with a view of promoting Ceylon tea in the Spanish market.

On the sideline of the FITUR travel fair, Sri Lanka Tourism Promotion Burau officials participated at the events organized by the UNWTO. During the events, SLTPB officials met with the Mr.Harry Hwang , Director of Regional Department for Asia and the Pacific, UNWTO.As a result of discussions, Mr.Harry Hwang has shown the interest to hold the UNWTO Joint commission in Sri Lanka in 2024.

Meantime, the SLTPB and Sri Lanka Embassy of France also took steps to arrange Business Meetings, exclusive media interviews, Air Line meetings at the FITUR 2023. The Media gathering conducted during the fair created the great opportunity to highlight the updates on the destination and create awareness on the destination.

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