Business
Litro Gas – A driving force in empowering Sri Lanka towards COVID-19 economic recovery
Overcoming economic adversity through resilience and financial efficiency has been at the heart of Litro Gas strategy as the Company mitigates a powerful turnaround during challenging times.
“External circumstances such as the Easter Sunday attack and the Saudi drone attack in 2019 impacted our businesses but we have been strong enough to manage a successful turnaround” says Anil Koswatte Chairman & CEO – Litro Gas Lanka Ltd & Litro Gas Terminal (Pvt) Ltd.
“This year, the COVID-19 impact was felt considerably, but we were able to rise to the challenge and fulfill our obligations as the country’s leading supplier of domestic LPG.”
“A true test of our capability and strength came during the COVID-19 period – our responsibility to keep the stoves burning in Sri Lankan homes spanned across markets as our dedicated teams worked around the clock to make sure every home had its gas supply unbroken and consistent.”
Koswatte pointed out that Litro Gas used innovative and real time strategies in ensuring the customers were assured of a consistent supply of domestic LP Gas.
“It was not just a testimony to our strength and industry capability but more importantly, a promise we had to keep to our customers as the market leader and the primary supplier of domestic gas to the nation”, he stressed.
Yet, in a testimony to its resilience, economic challenges notwithstanding, Litro Gas went on to record an outstanding performance with a 3.5% YOY volume growth in 2019. A robust 2.3 percent volume growth in the first quarter of 2020 reiterates the Company’s effective response in mitigating the Covid-19 pandemic phase.
The cash flow from operating activities stayed strong when compared against other players in the industry – at LKR 22 billion in 2019. Over LKR 1.5 billion was dispersed to its shareholders at LKR 32.3 per share in Litro Gas Lanka Ltd (LGLL) and Rs 3.66 per share in Litro Gas Terminal (Pvt) Lanka Ltd (LGTL); majority of the shares are held by the Treasury. The Company recorded a turnover of LKR 45 billion with PBT of LKR 7 billion and a net profit of LKR 5 billion.
The Company commands a market share of 75% as the country’s provider of domestic LPG. “The figures affirm the tremendous undertaking Litro Gas has as the industry leader”, says Koswatte.
The tough economic conditions only enhanced the Company’s strength, Koswatte adds, pointing out that gearing increased from 20% to 29%, confirmed as the highest in the history of the Company, following the undertaking of restructuring by Royal Dutch Shell in 1995.
Koswatte reiterates that maintaining strong fiscal discipline backed by a strengthening of the portfolio through strategic investments, was central to the Company’s outstanding success.
“We have always believed in sustaining a strong focus on growth and consolidation – despite the COVID-19 pandemic, Litro Gas was successful in purchasing outright the long term leased land where operations have been based since 1995”, he added.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
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