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INSEE Cement secures spot on LMD’s Most Respected Entities List

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INSEE Cement, Sri Lanka’s leading and only integrated manufacturer of cement has been ranked amongst Sri Lanka’s Most Respected Entities 2021 by LMD magazine. The ranking is based on research carried out by Nielsen involving 800 “Manager and above” personnel within the corporate sector. The data was gathered through unaided and unprompted telephone interviews, where each respondent was asked to name their picks for the top 3 companies in Sri Lanka, along with other questions. The Most Respected Entities ranking by LMD is one of the most prestigious accolades within Sri Lanka’s corporate sector and reflects the market leading position that INSEE Cement enjoys.

Expressing his pleasure, Jan Kunigk, Executive Vice President, Sales, Marketing & Innovations at INSEE Cement said, “Being recognized as one of Sri Lanka’s most respected entities is a testament to our dedication to delivering best-in-class quality, sustainably and reliably. We are achieving this by leading the industry towards sustainable building practices, responsible waste management and digital integration to meet the needs of tomorrow. Our stakeholders have witnessed and been a part of our pioneering efforts, resulting in them perceiving us as a respected entity. By consistently aiming for excellence, we create world class products that are clean and sustainable, which has earned us a reputation as the industry leader. I take this opportunity to thank everyone who has supported us and also LMD for providing us with this opportunity.”

INSEE Cement is driven by a core ethos of “Build for Life”, which the company lives true to by driving innovation across the sector and guiding the industry towards more sustainable and green building practices. Its range of Sanstha cement is engineered to be a superior blended cement that is environmentally friendly, while producing compressive strength equivalent to or greater than that of Ordinary Portland Cement. The Company was also handpicked by the Colombo Porty City project to engineer and supply a specialized variety of cement for this megaproject. Being more than up to the task, INSEE Cement engineered the concretes used to build this modern marvel, which is certified to last at least 100 years amidst harsh marine conditions.

Kunigk further explained that one of INSEE Cement’s strengths has been its collaborative spirit and how that has contributed towards the company receiving this recognition, “One of the reasons we have achieved such a high degree of respect from within the industry, and also from outside, is because we are always willing to share! We share our knowledge, expertise and achievements with all industry stakeholders, including competitors, because we believe in winning through collaboration. Thus, our efforts and values are on display for all to see. Our open culture of learning and industry-leading innovation, naturally place us in a position that elicits corporate respect and cooperation; both within the industry and with other stakeholders, such as government, to constantly improve standards within the industry. Our INSEE i2i Innovation Space, which is a centre of excellence open to all for collaboration, reflects our ethos and values, perfectly.”

INSEE Cement or Siam City Cement (Lanka) Limited, is a member of the Siam City Cement Public Company Limited (SCCC), a leading cement manufacturer in Southeast Asia, founded in 1969 in Thailand. The Company – INSEE Cement, manufactures INSEE branded – Sanstha, Mahaweli Marine, Mahaweli Marine Plus, INSEE Rapid Flow, INSEE Rapid Flow Plus and INSEE Extra cement. INSEE Cement is the first certified ‘Green Cement’ in Sri Lanka with the Green Labelling certification awarded by the Green Building Council. The company is the only fully integrated cement manufacturer in Sri Lanka.



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SLT-MOBITEL donates fourth PCR machine to Matara District Hospital

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Group Chairman of SLT-MOBITEL Rohan Fernando handing over the donation to Deputy Director of Matara District Hospital Upali Ratnayake accompanied by Dr.Thushara Vidanapathirana, Dr.Deepika Priyanthi and Group CEO of SLT-MOBITEL Lalith Seneviratne.

Recognising the importance to enhance Sri Lanka’s PCR testing capacity to curtail the spread of COVID-19 and to protect citizens, SLT-MOBITEL continues its support by donating yet another vital PCR machine to the District General Hospital in Matara recently.

The donation of the PCR machine valued at over Rs. 5.7 million is part of SLT-MOBITEL’s ‘Sabandiyawe Sathakaraya’ CSR initiative in further strengthening the nation’s healthcare systems and assisting communities in need.

The equipment was handed over to the Deputy Director of the Matara Hospital Doctor Upali Rathnayaka in the presence of Rohan Fernando, Group Chairman, SLT-MOBITEL; Lalith Seneviratne, Group Chief Executive Officer, SLT-MOBITEL; Kiththi Perera, CEO, SLT; Shashika Senarath, CMO, Mobitel along with Regional GM, SLT; Regional Head – Mobitel and Hospital Staff.

Previously, PCR machines were donated to the Base Hospital, Karawanella, District General Hospital, Matale and the University Hospital of the Kotelawala Defense University. SLT-MOBITEL appreciates the support received from all Sri Lankans towards ‘Daana Paaramitha’ which was conceptualized as a platform to further increase community involvement in carrying out relief efforts to support families affected by the pandemic.

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Extension of lockdown negatively impacts CSE

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By Hiran H. Senewiratne

CSE trading activities commenced yesterday in a lacklustre manner with little share-buying interest and later on became negative following the government’s announcement on the lockdown extension until October 1, stock market analysts said.

The Colombo International Financial Centre (CIFC) at the Port City was set to commence this month and has been delayed until December owing to the current Covid 19 situation. This also affected CSE trading activities yesterday, analysts said.

Consequently, the stock market lost steam yesterday, closing on a negative note as investor sentiment remained erratic due to internal and external environmental factors. Both indices moved downwards or to negative territory despite healthy turnover in the market. The All Share Price Index went down by 46.09 points and S and P SL20 declined by 17.93 points. Turnover stood at Rs. 3.8 billion with two crossings. Those crossings were reported in Expolanka, where 600,000 shares crossed for Rs. 101.1 million, its shares trading at Rs. 158.50 and Sampath Bank one million shares crossed for Rs. 49.5 million, its shares traded at Rs. 49.50.

In the retail market, some companies that mainly contributed to the turnover were; Expolanka Holdings Rs. 1.2 billion (7.4 million shares traded), JKH Rs. 604 million (4.6 million shares traded), Browns Investments Rs. 540 million (58.3 million shares traded) and Hayleys Rs. 204 million (2 million shares traded).

It is said that following two sessions of gains, the indices closed in the red due to price declines in large-cap stocks as investors opted to book modest returns after the recent sharp rally. Stocks such as Expo, LOLC, and JKH, which saw sharp gains in the past two sessions witnessed profit-taking at higher levels and weighed on the momentum throughout the session.

Further, high net worth and institutional investor participation was noted in Sampath Bank. Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company and LOLC Holdings, while retail interest was noted in Browns Investments, Lanka Orix Finance and Industrial Asphalts. During the day 153 million share volumes changed hands in 24000 transactions.

As of yesterday, the current exchange rate of 1 US dollar was equal to 199.607 Sri Lankan rupees. This is an increase of 7.856656 percent (or +14.5401 LKR) compared with the same time last year (17 September 2020), when 1 US dollar equaled 185.067 Sri Lankan rupees.

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Lockdown takes toll on Sri Lanka’s manufacturing sector activities

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The resurgence of the COVID-19 pandemic in August 2021 has slowed down the manufacturing activities in the country. Accordingly, the manufacturing PMI recorded an index value of 45.1 in August 2021 with a fall of 12.7 index points from the previous month, mainly driven by the decrease in New Orders, Production, Employment, and Stock of Purchases sub-indices. The decline in New Orders and Production, especially in the manufacture of food & beverages, furniture, and textiles & wearing apparel sectors, have mainly contributed to the overall decrease of the manufacturing PMI. Many respondents in those sectors highlighted that their local orders and distribution channels were affected due to the lockdown imposed as a measure of containing the pandemic. Further, many of them also emphasised that factory operations were disrupted due to the spread of the COVID-19 virus among employees. Employment sub-index also declined in line with these developments.

The decrease of Stock of Purchases was in line with the decline in New Orders and Production. Further, the difficulties encountered in placing purchase orders and in settling foreign payments also adversely affected the supply chain of raw materials and production schedules. Many respondents stressed that the continuous increase in the cost of imported raw materials adversely affected their profit margins. Meanwhile, Suppliers’ Delivery Time lengthened at a slower rate in August 2021. The manufacturers cautioned that the uncertainty over the COVID-19 pandemic would continuously hinder the prospects of the manufacturing sector, yet, overall expectations for manufacturing activities for the next three months remained above the neutral threshold.

Services PMI dropped to an index value of 46.2 in August 2021 with the restrictions imposed to contain the further spread of the COVID-19. New Businesses, Business Activity, Employment and Expectations for Activity sub-indices recorded declines. New Businesses decreased in August compared to the previous month mainly with the declines observed in wholesale and retail trade, insurance, real estate, and education sub-sectors. Business Activities across most of the sub-sectors such as, wholesale and retail trade, real estate, insurance and other personal activities reported considerable declines indicating the adverse effects of travel restrictions on their business operations. Nevertheless, transportation sub-sector recorded some improvements solely due to the growth in freight volumes. Moreover, financial services sub-sector also indicated improvements despite the disturbances from travel restrictions. Employment continued to fall at a higher pace as retirements and voluntary resignations exceeded the number of recruitments carried out during the month. Backlogs of Work increased at a higher pace in August along with the reduction in staff availability amid travel restrictions and growing COVID-19 infections of staff. (CBSL)

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