Macksons Paints Industries (Pvt) Ltd, manufacturer of the popular brand of paint and coatings- Multilac, bagged the Gold award at the recently held annual export awards organised by the National Chamber of Exporters (NCE).
The NCE Export Awards recognizes and rewards exemplary Sri Lankan exporters while maintaining high standards and professionalism. Upon which they have recognised Macksons Paints for their efforts to boost the nation’s economy with their rapid progression in terms of innovation. They have been accredited as an organisation that has, since their inception brought great pride to the nation.
Speaking on their outstanding achievement, Director and CEO, Macksons Holdings, Shimmer Milfer stated: “Proudly Sri Lankan, yet renowned globally for international quality products, Multilac has always been at the forefront of innovation. It is our passionate drive, sustainability and diversity among the workforce that has led us to achieving great heights.”
“Multilac’s product range, has been developed to meet the constantly changing customer dynamics while specialising in surface coatings and high-quality paints which has enabled us to take on global giants while emerging as a trail blazer” added Milfer.
The award-winning company has also over 7000 dealers island wide and is the only paint company in Sri Lanka that exports the products manufactured entirely from and in the country. “Our future goals are to expand exports while diversifying the business and taking our name and through it our country onto the global platform” noted Director and Chief Executive Officer, Macksons Paints Lanka (Pvt) Ltd, Mizha Mizver Ismail.
Since its inception, Multilac has been honoured several times in recognition of its excellent accomplishments. The company was awarded the Export Brand of the Year, the Best Sri Lankan Enterprise and the Presidential Export Award, standing at the pinnacle as the largest paint exporter in Sri Lanka. With exports products ranging from paints and coatings, water proofings to sanitizers to countries including: Indonesia, Australia, India, the Maldives, Myanmar, Seychelles, Bangladesh and the Middle East, Multilac products have put Sri Lanka on the map in the surface coating industry. The research and production team of Multilac works with leading chemical giants such as Germany’s BASF, Clariant and Beyer, Dow, BYK chemie and Ferro USA ,
Multilac is the first paint brand in Sri Lanka to have obtained the Green Label Certification and have also been certified as lead-safe, by the IPEN Institute of America. They are the only company in Sri Lanka and the third company in the world to be certified, as lead safe by a prestigious institution such as IPEN USA.
Further due to the strict and stringent quality criteria that are adhered to during production, the company has also received the Quality Management System (QMS), Sri Lanka Standards (SLS) and the ISO 9001:2008 certifications as well.
Likewise, with the promise of uncompromising quality control, in conformity with ISO 14001:2015 quality management systems, that support consistent improvement, the company has since its inception succeeded in building innovative products.
While Europe, Asia & India as a whole have been fighting for their shelf space of our country’s paint industry, Multilac is proud to have countered these competitions, facing global challenges by swimming against the tide and setting new records for the Sri Lankan industrialists with the strong belief that the nation can achieve anything we put our hearts into. The company is now a testimony to this. It is this, that has made Multilac rise to the pinnacle.
Given their tremendous efforts to identify and develop overseas markets for Sri Lankan products, Macksons Paint Industries has previously received the Gold Award for Exports in 2015 and for the year 2014 as well. With its wide-ranging dealer network and innovative products, Sri Lanka’s Heritage brand Multilac has been at the forefront of the paint and coatings industry for the past 40 years. Thereby, this year’s achievement goes on to show how the brand has come along way to reach the pinnacle.
Macksons Holdings Chief Executive Officer Shimmer Milfer together with Mackson Paints Lanka Director and Chief Executive Officer Mizha Mizver Ismail represented the company at NCE awards and accepted the Gold Award. Macksons Paints Lanka Chief Operating Officers Ismail Hussain ,Sajjaad Saliheen and Macksons Holdings Vice president Nilrukshi De silva were also present at the event.
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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