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New Anthoney’s Group strengthens its position with 100pct acquisition of Gold Coin Feed Mills Lanka 

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New Anthoney’s Farms (Private) Ltd, recently bought 100pct stake in Gold Coin Feed Mills (Lanka) Ltd from Gold Coin Management Holdings Pte Ltd and Glen Arbor Holdings (Singapore) Pte Ltd, both of whom are subsidiaries of Aboitiz Equity Ventures Inc (“AEV”). With this acquisition Gold Coin Feed Mills (Lanka) will now be Anthoney’s Feed Ltd, making New Anthoney’s Group an integrated poultry player with end-to-end supply chain capabilities in Sri Lanka.

With this acquisition New Anthoney’s is now able to control and manage the entire manufacturing process end to end, enabling it to further enhance the quality delivered to its customers and improve production efficiencies. New Anthoney’s is also among the top exporters of poultry products in Sri Lanka and this acquisition directly fits in with the company’s overall objective of accelerating the export growth further, earning valuable foreign exchange to the country.

The acquisition was completed following an official signing between the two companies during mid- December. Nithya Partners acted as legal advisor to New Anthoney’s whilst Mr. Saminda Weerasinghe, CFA acted as financial advisor to the buyer. TWCorp (Pvt) Ltd was exclusive financial advisor to the seller whilst Julius & Creasy acted as legal advisors to the seller.

Emil Stanley, the Chairman of New Anthoney’s Group, commenting on this, said ‘‘This is a historic moment for New Anthoney’s. I am confident that the acquisition of the animal feed business from Aboitiz Group will help us to grow our business exponentially and will help us to achieve our vision of becoming a reputed brand in the global poultry market. I would like to extend our sincere thanks to Aboitiz Group for the trust placed on us and to TWCorp for facilitating this transaction.’’.

‘This was a timely decision considering the many factors at hand and the acquisition will strengthen our position in the feed sector enabling us to provide an uninterrupted supply of poultry and also cater to the increasing demand both locally and internationally,’ said Neil Suraweera, CEO and Executive Director.

The foundation of New Anthoney’s is the farmer who ensures the nation receives the right proteins. As a result, the country’s more significant population depends on animal producers regardless of its size inside the country. It is because of them producers like New Anthoney’s can conduct environmentally friendly business practices nationally.



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Opposition threatens to move no-faith motion against Speaker over OSB

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Speaker Abeywardena

By Saman Indrajith

Opposition and SJB leader Sajith Premnadasa told Parliament yesterday that the Online Safety Bill had been passed in violation of the law and unless remedial action was taken, a no-faith motion would be brought against Speaker Mahinda Yapa Abeywardena.

Premadasa said that Article 123(4) of the Constitution says, “Where any Bill, or the provision of any Bill, has been determined, or is deemed to have been determined, to be inconsistent with the Constitution, such Bill or such provision shall not be passed except in the manner stated in the determination of the Supreme Court.”

Premadasa said: “It is illegal to pass a Bill without adhering to this constitutional provision. There were nine instances where the government overlooked the Supreme Court determination on the Bill. The Speaker allowed that to happen despite our protests. The Justice Minister, too, has admitted that there are flaws in the Act. How could that happen? Rectify them immediately, or we will bring a no-confidence motion against the Speaker.”

Justice Minister Dr. Wijeyadasa Rajapakshe said that even if the Supreme Court determined that a section or clause of a draft Bill was inconsistent with the Constitution, a Bill could be passed by Parliament. It could be done with either a two-thirds majority or two-thirds majority plus people’s approval from a referendum. A case cannot be filed against the way the Speaker or an MP behaved in this House as they have immunity. Former Speaker Anura Bandaranaike, too, has given a ruling on this issue and we still consider it as a precedent to be upheld. With regard to the Online Safety Bill, the Attorney General has instructed Public Security Minister Tiran Alles to incorporate some amendments as per the Supreme Court determination and to bring other recommended amendments in the form of a separate Amendment Bill. I was not a party to that discussion. This Amendment Bill was presented to the Cabinet and approval was granted and now is at the Legal Draftsman’s Department. Thereafter, it would be referred to the Cabinet again and with that approval we can have it here in this House for consideration,” the Minister said.

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Teheran expects enhancement of bilateral ties in all fields

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Following Iranian FM’s visit

The Foreign Ministry said yesterday that Iranian Foreign Minister, Hossein Amirabdollahian, during high level meetings in Colombo this week, expressed hope that with this trip, the bilateral ties in all fields, including political, economic, commercial, and tourism, would be expanded.

Amirabdollahian was here at the official invitation of the Sri Lankan Foreign Minister Ali Sabry, PC. During his meeting with Sabry, Amirabdollahian referred to the good and friendly relations between the two countries and the continuous consultations between them on bilateral, regional, and international issues.

The Iranian also considered scientific and technological issues as areas to which the two countries pay attention for cooperation.

Amirabdollahian appreciated the invitation of the President of Sri Lanka to the President of the Islamic Republic of Iran, Seyyed Ebrahim Raisi, to visit this country and stated: “We hope that this trip will be on the agenda at the right time.”

He also appreciated Sri Lanka’s positions in supporting the people of Palestine and Gaza in international forums, including the United Nations.

In this meeting, Sri Lankan Foreign Minister Ali Sabry also warmly welcomed his Iranian counterpart and described his trip to Tehran last summer as memorable, stating: “During my trip to Iran, I witnessed the high morale of the Iranian people in the social arena. I observed production and life.”

The Sri Lankan Foreign Minister emphasized: “The two countries have good relations with common areas and shared values.”

Referring to Sri Lanka’s transition from previous economic conditions and economic growth and prosperity in this country, Ali Sabry expressed hope that the relations between the two countries would expand even more in the new era.

Referring to the industrial and economic capabilities of the Islamic Republic of Iran, the Minister of Foreign Affairs of Sri Lanka emphasized the readiness of his country to host Iranians to implement economic projects in Sri Lanka.

The issue of developing cooperation between the two countries in the field of tourism was one of the other topics discussed by the foreign ministers of the two countries, and the parties expressed hope that Iranian and Sri Lankan tourists would mutually choose the two countries more and more as tourist destinations.

In this regard, the parties emphasized the necessity of establishing direct flights between Iran and Sri Lanka, the Iranian Foreign Ministry said.

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Only 50,000 out of 7 mn buildings have rooftop solar systems

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Great potential to increase solar power generation

by Rathindr5a Kuruwita

Rooftop solar power generation in Sri Lanka has exceeded 750 megawatts by the middle of February 2024, Ceylon Electricity Board (CEB) media spokesman Noel Priyantha said on Wednesday.

Priyantha added that Sri Lanka has great potential in solar, wind and other forms of renewable energy.

Sri Lanka has around seven million buildings, but only 50,000 of them have installed rooftop solar systems, and there is a great potential to increase rooftop solar power generation exponentially, he said.

The CEB now buys a unit of electricity from rooftop solar power producers for 37 rupees, and these producers can recover their initial costs in five years, Priyantha said.

The CEB is also talking to state-owned banks to introduce a concessional bank loan for those interested in installing rooftop solar power units, he said.

The Sri Lankan government has set a goal of achieving 70 percent renewable energy generation by 2030 and becoming carbon-neutral by 2050.

The total installed capacity of the national power grid is over 5,000 megawatts, and the daily energy consumption in February 2024 is about 46 gigawatts per day, Priyantha said .

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