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Piramel Glass deal energises CSE

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By Hiran H.Senewiratne 

Piramal Glass Ceylon PLC ‘s largest shareholder, Piramal Glass Pvt Ltd, entered into a share purchase agreement to sell its entire stake of 56.45 percent  in the company to Pristine Glass Pvt Ltd for Indian Rs. 5.166 billion.

In a CSE filing the company noted that the Board of Directors of Piramal Glass Ceylon has entered into a sale and purchase agreement with, inter alia,  Piramal Glass Pvt Ltd (seller) and Pristine Glass Pvt Ltd ( purchaser), a company duly incorporated under the laws of India, for the sale and purchase of 536,331,880 shares (56.45 percent) being the entire equity held by the seller in the company.

The consideration for the transaction is to be calculated based on the enterprise value of the company of Indian Rs. 5.166 billion, the indebtedness of the company, the net debt of the company and a working capital adjustment to be computed, as agreed, as of the date of transfer of the glass manufacturing business of the seller in India.

Amid those developments, CSE activities were of a negative kind most of the time yesterday but in the latter part of the day they turned positive following the Piramal Glass deal, which accounted for more than 33 percent of the turnover yesterday, stock market analysts said. 

Melstacorp PLC share prices also moved up, thus enabling the market to perform in a positive manner. Both indices moved upwards. All Share Price Index went up by 14.84 points and S and P SL20 went up by 12.04 points. The turnover stood at Rs.  2.93 billion with a crossing. The crossing was reported in JKH, which crossed 300,000 shares to the tune of Rs. 45.6 million; its shares trading at Rs. 152.

In the retail market, top five contributors to the turnover were;  Piramal Glass Rs. 1.07 billion (108.5 million shares traded), Browns Investments Rs. 399 million (118 million shares traded), Melstacorp Rs. 212.8 million (212.8 million shares traded), JKH Rs. 228.4 million (844,000 shares traded) and Hemas Holdings Rs. 80.2 million (846,000 shares traded). During the day  305.9 million share volumes changed hands in 25463 transactions.

During the day investment holdings companies and diversified business conglomerates contributed and were active on the market floor yesterday. Piramal Glass share prices appreciated by 10 percent or 90 cents, following the sale and share purchase agreement. Its shares started trading at Rs. 8.70 and at the end of the day they moved up by Rs. 9.60. Melstacorp share prices moved up by 14 percent or Rs. 6. Its shares started trading at Rs. 42.50 and at the end of the day it moved up to Rs. 48.50. It is said , Carson Cumberbatch  announced an interim dividend of Rs. 0.75 per share.    

Sri Lanka rupee quoted weaker at 186.05/40 to the US dollar on Friday in the spot market while yields remained unchanged in dull market trade ahead of the bond auction, dealers said. The rupee closed at 185.80/186.00 to the US dollar on Thursday.



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Next Meats, Purveyor of the World’s First Plant-based Yakiniku Meats, Is Now in Singapore

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The Tokyo-based startup makes its debut in the alt-protein hotspot of Singapore Next Meats has collaborated with Aburi-EN to deliver two new meal sets Made with soybean proteins, the Kalbi contains no chemical additives or animal ingredients

SINGAPORE –

 Media OutReach – 14 April 2021 – Next Meats, a purveyor of the world’s first plant-based yakiniku meats, is making its debut in the alternative protein hotspot, Singapore! The Japanese alternative meat company has collaborated this time with popular Japanese restaurant Aburi-EN, which will offer two types of set meals using the NEXT Kalbi (boneless short rib) for the very first time. Made largely from soy proteins, the NEXT Kalbi contains double the amount of protein and half the fats than that of regular meat and even more, it does not contain any chemical additives or cholesterol due to its lack of animal ingredients. Now, Singaporeans can enjoy yakiniku without the guilt! 

The two new menus available at Aburi-EN are the Kalbi Don Set (S$13.80) and the Stamina Teishoku (S$15.80) — which are available for a limited time only. Next Meats has specifically chosen to work with Aburi-EN as they are a Japanese grilled-meat specialist. The two menus are the culmination of many months of research and development, and they will also be Aburi-EN’s first-ever plant-based dishes.

For the Kalbi Don Set, Next Meat’s Kalbi is grilled and served atop a bowl of fragrant Japanese steamed rice. Equally indulgent, the Stamina Teishoku features the Kalbi stir-fried with cabbage along with egg imported from Okinawa. The meat is then served with fragrant Japanese steamed rice, salad, pickles and miso soup. For both dishes, the meats are glazed with a special homemade sauce that packs an irresistible umami punch.   

 Both the Kalbi Don Set and Stamina Teishoku will be available at all Aburi-EN stores from April to July 2021.

 An advocate of sustainable food production and better food security

 The NEXT Kalbi is one of Next Meats’ innovative offerings, which includes other plant-based delicacies such as the NEXT burger and NEXT gyudon (beef bowl). The company champions the importance of saving the planet and humanity through reducing the emission of greenhouse gases (which is produced from meat consumption and animal agriculture) and utilizing biotechnology to combat protein deficiency.

 Through extensive research and development, Next Meats has culminated the knowhow on using molecular binding to mould vegetable proteins from powder. Buoyed by state-of-the-art, proprietary technologies, the company has successfully created vegan substitutes that replicate the texture of real meat.

 

 

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Lanka Hospitals tops healthcare sector in LMD’s Most Awarded Entities

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Lanka hospitals, the internationally accredited multiple award-winning healthcare provider, topped the healthcare sector in the Most Awarded list compiled by LMD magazine for 2019/20.

Designed to rank the most awarded entities in Sri Lanka, LMD conducted the research, the first of its kind in Sri Lanka, involving 204 corporate entities, based on the cumulative tally of awards received from 52 awarding bodies between January 2019 to September 2020.

With a total of five awards, securing the overall rank of 67, Lanka Hospitals came first in the healthcare sector.

Deepthi Lokuarachchi, Group CEO, Lanka Hospitals, said three factors contributed towards Lanka Hospitals’ award winning process; profound commitment to quality, service standard in healthcare and the accreditation of Joint Commission International (JCI).

“Our stringent standards for quality have earned accolades and accreditations from numerous national and international agencies. Lanka Hospitals has been in the forefront of healthcare providers since 2009 and, particularly, between 2019 and 2020, we were able to win seven national and international awards including one for environmental management systems”, he said.

As a result of superior facilities, customer care and quality of service Lanka Hospitals offers, a growth was experienced in terms of medical tourists during the Covid-19 pandemic even though the inbound international population was restricted. JCI, a US-based accreditation agency, rates healthcare services based on several criteria related to medical as well as non medical services”, he noted.

In terms of corporate responsibility, Lanka Hospitals focuses on skills development, medical care and donations. Every year, Lanka Hospitals’ nursing school enrolls batches from outside the Western province and upon the successful completion of the course they are offered employment, he added.

 

 

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AkzoNobel harnesses AI technology to introduce Dulux Preview Service

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AkzoNobel’s Dulux has harnessed the transformative power of machine learning technology and artificial intelligence (AI) to introduce for the first time in Sri Lanka, a new concept that allows customers to accurately visualise their dream space ahead of their next paint job. A first in the industry, the Dulux Preview Service is accessible from a desktop or mobile platform, and enables clients to experiment with different colours, combinations, and themes on the go; enabling informed decisions about what works best for their interiors, a company news release said.

“Gone are the days of lugging around multiple decks of colour cards in an attempt to envision what a new space will look like, or being disappointed on having discovered a better colour scheme right after the walls were painted. The Dulux Preview Service provides a detailed virtual picture of projected living spaces -allowing users to try out over 2000 Dulux colours and multiple instant colour scheming options-, also equipping customers with the confidence to commit to a colour scheme knowing it will transform their space as they envisioned,” it said.

“In just three steps, the revolutionary new feature reduces turnaround time to under 48 hours on working days; making it a no-fuss, no-frill, seamless and hassle-free platform. First, users upload an image of the room or house they want to recolour. Next, a reference image is uploaded, and a colour shade or theme is chosen. Then Dulux colour experts curate the generated results catering to the specific need, and finally, a preview is received for customers to either store or use as recommendations.”

With just a ‘Snap, Preview, and Paint’, the Dulux Preview Service provides clients with the following:

Real-time visualisation. Customers upload a photo onto the platform, and the feature will digitally project how the space will look with the new colours. This allows customers to plan their paint job while taking into account the other furniture or wall fixtures in the room.

Options for multiple colour combinations. The preview service serves up a variety of colour combinations based on the reference image uploaded. Customers can also select from various Dulux colour themes based on the ambience they are looking for, with recommendations even on what other colours would complement the room or energy they are aspiring for.

Personalized recommendations. The tool also takes into account global trends and advice from colour experts to equip users with the best, personalised design recommendations.

Instant accessibility. As an easy-to-use, online tool, the service completely eliminates wait times for assistance from service agents; getting customers to that recreated space much quicker.

For free and customised designs or colour recommendations on how to transform your walls at the click of a button, visit www.duluxpreviewservice.com.

 

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