Effort to grow rubber exports fourfold by 2024
Global Rubber Industries (Pvt) Ltd. (GRI) has partnered with Kingslake, the manufacturing solutions experts, to lay the foundation for its next phase of growth. By leveraging Kingslake’s Advanced Planning and Scheduling (APS) solutions, the country’s leading manufacturer of specialized tires hopes to make a significant contribution to the rubber industry, a key export of the country.
For the past 150 years, Sri Lanka has been one of the world’s most sought-after primary sources for natural rubber and rubber-based products, having contributed $1 billion to the country’s export revenue in 2018 alone. With a revenue target of $4.4 billion set for 2024, all eyes are on specialist companies such as GRI to bolster their own production, advanced planning, and scheduling capabilities so as to stay on par with global players.
Additionally, as a member organization of the Sri Lanka Export Development Board (SLEDB), GRI’s move to partner with Kingslake will help the local export economy stay competitive as a result.
With Siemens Opcenter APS, GRI will have decision-making support for overtime, order prioritization, split production batches, due date negotiation, and order processing clarity. With the new solution, the company will also have complete visibility and control to support better scheduling decisions.
More specifically, GRI will be able to make better and more strategic its Bill of Materials (BOM) level Planning, Make to Order (MTO) Planning, and Make to Stock (MTS) Planning; all of which are critical to a tangible enhancement of existing manufacturing processes.
“Work order modifications, time overruns, and material availability issues frequently disrupt the production schedule. GRI is looking to solve these challenges by seamlessly connecting our planners to the shop floor, enabling capacity-based production plans, and real-time schedule changes with Kingslake’s experience and scheduling APS software,” said Ananda Caldera, Executive Director of Global Rubber Industries (Pvt) Ltd.
“We have entrusted Kingslake’s interactive and multi-constraint scheduling APS software expertise to fortify and further digitize our operations,” said GRI’s Chief Information Officer, Tharaka De Alwis. “The availability of resources and additional constraints such as tooling and materials, needs to be taken into consideration during scheduling to ensure an accurate model of our environment. This is of vital importance given the aggressive investments we are making, and our vision to position Sri Lanka and GRI as a tire manufacturing hub.”
“Digitalization is changing everything, and manufacturers must be able react quickly and intelligently to unexpected changes, while also being able to respond to shorter lead times and satisfy customer demands,” said Duleep Fernando, CEO of Kingslake. “Through this partnership with Kingslake, GRI will be able to sequence production orders faster, make production planning more accurate, improve production master plans, and enhance inter-departmental and inter-factory communication.”
“Our systems have added immense value to the processes of a range of manufacturing companies, and subsequently their sectors which include tea, furniture, rubber-based products, complex electronics, fashion, gloves, packaging, plastics, molds, tools, electrical devices and glass,” he added. “We are certain that our digital solutions and expertise will reap greater dividends for GRI, and for Sri Lanka’s rubber export industry as a whole.”
Since its inception in 1994, Kingslake has focused on providing software to help mid-sized manufacturing companies grow. The company delivers state-of-the-art solutions built with a mix of best-of-breed ERP systems, specialized software solutions, and experienced dynamic consultants. Today Kingslake continues to build and deliver fit-for-purpose software that enables manufacturers to increase the visibility of their operations, be it customer service, inventory management, planning, procurement, manufacturing, engineering, HR, transport, or finance.
GRI was founded in 2002 and has expanded its business globally by taking high-grade Sri Lankan specialty tires to the world. The company produces radial agriculture tires, construction tires and material handling solid tires using locally produced natural rubber. GRI has sales offices and warehouses in nine countries, and a business presence in more than 50 countries.
In 2018, GRI opened an advanced manufacturing plant in Sri Lanka primarily to produce radial agricultural tires. In 2020, GRI also commenced construction of a new mixing facility in the Mirigama Export Processing Zone (MEPZ) in Sri Lanka and in 2021 laid the foundation to expand its advanced specialty tire plant.
Galadari Colombo awarded ‘SLIM People’s Hotel Brand of the Year 2021’
The Galadari Colombo was given a thumbs up from the people as the People’s Hotel Brand of the Year for the second time running at the recently concluded SLIM (Sri Lanka Institute of Marketing) People’s Awards 2021.
The uniqueness of the SLIM People’s Awards is the fact that it is awarded by the public which shows the popular choice of the Sri Lankan people.
This is the 15th successful running of the much-anticipated event conducted by SLIM in association with Nielsen which is globally renowned for its measurement and consumer insights.
Having stood the test time of time in the hospitality industry for more than 3 decades the Galadari Colombo is hopeful to remain in the hearts of its people as a brand that is trustworthy and dedicated to service.
Expatriates’ organization painting competition for Sri Lankan children from care homes highlights close India-Sri Lanka ties
Celebrating 75 years of India’s independence in Sri Lanka, Sri Lankan children from care homes converged in Colombo from all across Sri Lanka over 10-11 April 2021 for the final round of the nationwide painting competition organized by Colombo Expatriates Cultural Association (CECA) – a voluntary organization of expatriates consisting of mainly Indians – with support of the High Commission of India, Ministry of Education of government of Sri Lanka and several other partners.
Prof. G.L Peiris, Minister of Education was the Chief Guest and Gopal Baglay, High Commissioner of India was the Guest of Honour at the final round. Several other dignitaries including State Minister Piyal Nishantha were also present. The dignitaries lauded the effort as a shining example of strong people-to-people ties between India and Sri Lanka and stressed the enormous significance of the enriching experience for the children.
The competition was held in three categories – Sub Junior, Junior and Senior. The first round of the competition had seen enthusiastic participation of 4,375 students from child care homes across Sri Lanka. Contestants from all provinces who had produced sixty best paintings were invited along with one care-giver for the final round held in Colombo on April 10 at Hotel Taj Samudra. While top three winners in all the three categories were awarded SLR 100,000, SLR 75,000 and SLR 50,000 respectively in addition to various other gifts, certificates and medals, all the 60 finalists received cash awards, desktop computers, and other gifts contributed by various sponsors.
The event also formed part of ‘India @ 75’ celebrations in Sri Lanka which comprise events and activities in the run up to completion of 75 years of India’s Independence in August 2022. Prime Minister of India Shri Narendra Modi had launched these celebrations in India on March 12 2021, 75 weeks before the 75th Anniversary of Independence. In Sri Lanka, formal launch of these celebrations had taken place on April 9 2021 with the inauguration of ‘India Corner’ at the Nagananda Institute for Buddhist Studies.
Chrissworld to raise Rs. 56.25 million through IPO
By Hiran H.Senewiratne
Chrissworld Ltd. (CWL), an SME company engaged in the provision of third-party logistics (3PL) services, is gearing to raise up to Rs. 56.25 million via an initial public offering (IPO) on the Colombo Stock Exchange, sources said.
The company plans to offer 7,500,000 Ordinary Voting Shares for subscription at Rs. 7.50 per share. The subscription will open on April 27, with Atara Capital Partners representing the company as managers to the issue.
Meanwhile, the CSE noted in a statement that it has approved an application submitted by Chrissworld Ltd. for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE.
The company, starting off with Rs. 6 million capital in 2019, expanded its capital to Rs. 22.5 million and projects to obtain Rs. 79 million after the IPO.
Chrissworld will be earmarking milestones with the IPO as the first to be listed on the Empower Board, CSE’s newest listing platform, dedicated to SMEs. Further, Central Depository Systems (Pvt.) Ltd., a subsidiary company of CSE, will step in for the first time as the registrar to the issue.
Amid those developments the CSE started on a bullish note yesterday and during the latter part of the day with heavy retail investor participation the CSE witnessed a bullish trend. It is said that manufacturing sector counters became the most popular stocks during the day. Notable price appreciation was reported in Hayleys Group, Royal Ceramic Group and Distilleries.
Both indices moved upwards. The All Share Price Index went up by 100.10 points and S and P SL20 rose by 49.18 points. Turnover stood at Rs. 3.51 billion with a crossing. The crossing was reported in JKH, which crossed 1.32 million shares to the tune of Rs. 199.3 million and its share price was Rs. 151.
In the retail market, companies that mainly contributed to the turnover were; Royal Ceramic Rs. 511.2 million (1.46 million shares traded), Expolanka Holdings Rs. 359.9 million (4.5 million shares traded), Hayleys Group Rs. 359.9 million (4.5 million shares traded), Dipped Products Rs. 321 million (5.5 million shares traded), JKH Rs. 290 million (1.9 million shares traded), and Haycarb Rs. 177 million (1.5 million shares traded). During the day 87.8 million share volumes changed hands in 23900 transactions.
Hayleys shares appreciated by Rs. 6 or eight percent. Its shares started trading at Rs. 75.90 and at the end of the day they moved to Rs. 82. Royal Ceramic shares appreciated by Rs. 13.5 or nine percent. Its shares started trading at Rs. 328.25 and at the end of the day they moved to Rs. 358.75. Expolanka shares appreciated by Rs. 2.70 or five percent. Its shares started trading at Rs. 49.70 and at the end of the day they shot up to Rs. 52.40 and Distilleries shares appreciated by 70 cent or 3 percent from Rs. 20.20 to Rs. 20.90
Sri Lanka’s rupee quoted steady at 202.00/203 to the one month US dollar Monday, while gilt yields remained unchanged, dealers said.
The rupee last closed in the one-week forward market at 202/203 to the US dollar on Friday. Sri Lanka markets were dull as seasonal bliss kicks in.
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