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Pradeep Edward appointed Executive Director/CEO at Sadaharitha Plantations

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Sadaharitha Plantations Ltd. has announced the appointment of Dr. Pradeep Edward to its Board as Executive Director and Chief Executive Officer.

He counts over 25 years of work experience in both local and multinational companies, of which 18 years were in the managerial capacity with over 10 years reporting at Board level in General Management/COO and CEO capacity.” I am confident that Pradeep’s wide experience, skills and interests will further strengthen our business strategies to drive innovation and business growth,” said Sadaharitha Plantations Chairman Sathish Nawarathne.”Today our green branches have spread around the world with a growth above industry norms. And we hold over 3,000 acres of sustainable forestry lands of mahogany, Sandalwood, Teak and Aquilaria (Agarwood) as an addition to our portfolio,” he added. Commenting on his appointment, Dr. Edward said: “I am delighted and honoured to be entrusted with this opportunity to join Sadaharitha and work with its passionate team of professionals to nurture and steer the company towards further growth. Sadaharitha is a unique platform, in terms of future profitability, growth and innovation and I look forward to improving consumer experience, while being at the helm of the nation’s market leader in commercial forestry.”Dr. Edward is a Certified Professional Marketer (Asia Pacific), Practicing Marketer (Sri Lanka), Chartered Marketer (CIM-UK), and a Fellow member of Chartered Institute of Marketing (CIM-UK). He was awarded the Fellow Membership of the Institute of Management Specialist (IMS-UK) and a Honorary Fellow from the Institute of Marketing Malaysia and Certified Professional Finance Manager from the Institute of Professional Finance Mangers (IPFM-UK); and a Life Member of the Sri Lanka Institute of Marketing – SLIM. He also holds a Ph.D., MBA, Post Graduate Diploma in Marketing / Business Management and a Diploma in Finance.He was a council member of the Sri Lanka Institute of Marketing, serving in the capacity of President. He is also the Current Secretary General of the Asia Marketing Federation, the Apex body in the region representing over 18 counties. He is also the Vice President of the Private Laboratory Association, Vice President of the OBU of St Peters’ College Colombo-4 and the current Chairman of the Management Club – Colombo.Dr. Edward is a Past President of the Pharma Promoters Association of Sri Lanka, and a Past President of the Buckinghamshire University MBA Alumni. Further, he has served as the Secretary of Sri Lanka Chamber of the Pharmaceutical Industry in association with the Ceylon Chamber of Commerce, held positions at the National Chamber of Commerce and is involved in activities in the Presidential Secretariat. He was a Member of the National Branding Committee to develop a strategic global campaign for Sri Lankan Exports and a Selection Committee member of the EDB. He was also a Director of CPM society at Sri Lanka and was an EXCO member of the OPA.Prior to his current appointment, he served as the CEO of Lanka Hospitals Diagnostics for 3 years where he was instrumental in turning around the LHD business into the next level by achieving an 18% revenue growth and 49% in profitability in the very first year of taking over the operations in 2018. 



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Galadari Colombo awarded ‘SLIM People’s Hotel Brand of the Year 2021’

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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.

 

 

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Expatriates’ organization painting competition for Sri Lankan children from care homes highlights close India-Sri Lanka ties

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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.

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Chrissworld to raise Rs. 56.25 million through IPO

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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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