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SLRA focuses on building ultimate retail excellence across the country

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The newly elected president of Sri Lanka Retailers’ Association Prakash says that the changes in retail landscape over the past decade has been very significant. Interwoven with speed and technology, this sector remains one of the most vibrant yet challenging.

“From a Retailers Association point of view, we would envisage a future where the country would be positioned as a retail hub, giving further impetus to the already focused tourism sector. Our aim is to build that ultimate retail excellence across the country, which will contribute to enhance customer, community and business interest alike,” he says.

The 4th Annual General Meeting of the Sri Lanka Retailers’ Association (SLRA) was held on 17th December 2020 as a virtual meeting.

During the course of the year, the SLRA also host the executive directors virtual meeting of Federation of Asia Pacific Retail Association in July 2020 and attended the Head of Directors meeting in December 2020 of FAPRA. SLRA was nominated to be the host country for Asia Pacific Retail Exhibition and Conference 2024, which is flagship event of FAPRA.

Office bearers for the Year 2020/21: Murali Prakash; Group Managing Director & CEO, Ambeon Capital & Ambeon Holdings PLC is the President of SLRA, and Charitha Subasinghe; CEO, Jay Kay Marketing Services Pvt Ltd, Infiyaz Ali; CEO, Healthguard Pharmacy Pvt Ltd. serve as the Vice Presidents.

The newly appointed Executive Council for the year 2020/21: General Secretary Ms. Kaushalya Perera; Director, D. Samson & Sons (Pvt) Ltd, Asst. General Secretary – Dinesh Perera; Director, Abans PLC, Treasurer – Mahesh Wijewardena; CEO, Singer Sri Lanka PLC,Asst. Treasurer – Ajith Amarasekara, Sector Chair; Durables including Households & Consumer Electronics – Asoka Pieris; Director, Cargills Ceylon PLC and Hatton National Bank PLC, Sector Chair; E commerce- Dulith Herath; Founder, Kapruka.com (Pvt) Ltd, Sector Chair; Entertainment, Restaurant & QSR- Ms. Ruvini Kariyawasam; Corporate Manager, Perera & Sons Bakers (Pvt) Ltd, Founder President- Hussain Sadique; Deputy Managing Director, Hameedia, Past President, Sidath Kodikara, Council Member- Rakhil Fernando; Managing Director, Kaymu Lanka (Pvt) Ltd.



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Rootcode wins Startup of the Year and People’s Choice Award at SAARC Startup Awards 2022

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Rootcode, one of Sri Lanka’s leading tech companies, recently took home the “People’s Choice Award” in addition to being bestowed with the “Startup of the Year” title at the SAARC Startup Awards 2022. This regional recognition marks a significant milestone for the Sri Lankan tech space and workforce. Rootcode’s mission to build great tech is well underway, and it is gaining traction faster than ever.

This is the first time a Sri Lankan tech company has made a name for itself in the regional competition, and it is a watershed moment that has focused the global spotlight on Rootcode’s distinct approach to fostering innovation in Sri Lanka. This is also the first time that a Sri Lankan company was able to take home two awards of those presented at the SAARC Startup Awards.

Global Startup Awards SAARC celebrates the spirit of entrepreneurship and promotes bridging boundaries through innovation in its regions, which include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, by recognizing them with its most prestigious awards program, attended by top-notch entrepreneurs, corporates, investors, and ecosystem builders from Nordic, Central Europe, SAARC, and ASEAN regions.

Every year, the SAARC Startup Awards bring together hundreds of South Asian startups, entrepreneurs, investors, co-working spaces, and accelerators to provide a platform to highlight trailblazers in the region’s startup world. Rootcode was chosen ahead of dozens of other regional tech startups in the competition.

Sri Lanka is a relative newcomer to the South Asian startup fraternity, and Rootcode’s ability to represent the country on the global stage not long after its inception is remarkable.

“We are extremely humbled and honored by the support shown to us at the SAARC Startup Awards 2022, and being recognized under two categories is a huge milestone for us,” said the CEO and Founder of Rootcode Labs, Alagan Mahalingam. “We have always been driven forward by excellence, collaboration, and integrity, which I believe is the reason why we have come so far and why Rootcode continues to grow every day.”

Rootcode is driven by its focus on helping businesses build great tech not just locally but globally, and its achievement at the SAARC awards stands as a testament to that. Despite the challenging times, this is a win for Sri Lanka.

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INSEE Cement felicitates Sri Lanka’s youngest Commonwealth medallist

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INSEE Cement awarded aspiring wrestler, Nethmi Ahimsa Fernando, who won a Bronze Medal for Sri Lanka at the recently concluded Commonwealth Games in Birmingham, LKR 1 million cash reward, to support her to pursue her passion. Suranga Kumara, her coach, also received LKR 250,000 cash reward, in appreciation of his contribution towards Nethmi’s recent achievements. INSEE Cement has also pledged to support Nethmi’s aspiration to represent Sri Lanka at the 2024 Olympic games, while also providing the entire cement requirement for the completion of her new house, which is presently under construction, in collaboration with the Manusath Derana initiative.

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Textile maker Teejay knits strong start to 2022-23

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Q1 revenue more than doubles to Rs 23.9 billion

Teejay Lanka PLC has made a positive start to 2022-23 posting Group revenue of Rs 23.9 billion for the three months ending 30th June 2022. The Group achieved nearly half its full-year revenue of 2021-22 in just the first quarter of the new financial year as a result of the low base of the previous financial year due to the impacts of COVID, the depreciation of the Rupee and the passing on of yarn price increases during the last quarter.

In a filing with the Colombo Stock Exchange (CSE), Sri Lanka’s largest textile manufacturer said it had also recorded significant growth in pre-tax and net profit at both Group and Company level in the quarter reviewed.According to interim financial statements, Group profit before tax for the three months grew by more than Rs 1 billion or 291% to Rs 1.5 billion, while Group net profit for the period was up 301% to Rs 1.2 billion.

At Company level, revenue improved by 108% in the quarter under review to Rs 12.9 billion, while profit before tax grew by 323% to Rs 1.5 billion, and net profit increased by 311% to Rs 1.3 billion.

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