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Ties among Japan, India and Sri Lanka seen as crucial for regional development

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Key participants at the Sri Lanka, Japan, India investment promotion event.

The critical importance of growing ties among Japan, India and Sri Lanka for regional development was stressed by the founder of the Pathfinder Foundation Milinda Moragoda recently. Among other things, he also pointed to the crucial significance of growing India-Sri Lanka connectivity in taking development to Northern Sri Lanka.

A Pathfinder Foundation press release said in this connection: ‘Milinda Moragoda, Founder of the Pathfinder Foundation, delivered a keynote address highlighting the importance of trilateral cooperation between Japan, Sri Lanka, and India. The event, held at the newly renovated Japanese embassy, brought together high-level representatives from all three countries and was attended by representatives of Japanese investors in Chennai, the Japanese Chamber of Commerce in Chennai, and key members of the Sri Lankan business community.

‘The trilateral trade and investment promotion mission was organised by the Japanese Chamber of Commerce in Chennai and the Japanese embassy in Colombo in collaboration with JETRO. Coincidentally, Pathfinder Foundation participated in this important trilateral promotional event that took place on the last day of Japanese ambassador Mizukoshi Hideaki’s tenure in Sri Lanka.

‘In his keynote speech, Moragoda expressed deep appreciation for Ambassador Mizukoshi’s influential role during a critical period for Sri Lanka. The ambassador’s leadership, particularly during Sri Lanka’s economic crisis, was praised for his steadfast support of the country and its people. Moragoda noted that the ambassador was pivotal in promoting key projects that would positively impact Sri Lanka’s economic recovery and development.

‘The event also served as a platform to discuss the growing potential for trilateral cooperation between Japan, Sri Lanka and India.  Moragoda emphasised the importance of investing in the Northern Province of Sri Lanka, a region ripe with opportunities, particularly in the power and energy sectors. He stressed that strengthening connectivity between India and Sri Lanka could unlock significant economic benefits, spur further investment, and enhance regional growth.

‘Dr. Dayaratna Silva, Executive Director of the Pathfinder Foundation, made a comprehensive presentation on the prospects for trilateral cooperation in key sectors such as trade, renewable power and energy connectivity. He highlighted the growing convergence of interests between Japan, Sri Lanka, and India, emphasising leveraging shared opportunities in the energy sector. He outlined specific projects that could foster deeper ties, promoting a mutually beneficial framework for sustainable power and energy development that would connect with the larger regional network. The Pathfinder Foundation was represented at the event by its Chairman, Bernard Goonetilleke, and Director PF, Ahmad A. Jawad.’



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‘Hemas Holdings boosts profitability through efficiency in a challenging market’

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Acting CEO_Ravi Jayasekera

Hemas Holdings PLC reported a cumulative revenue of Rs. 54.4 billion, with operating profits of Rs. 5.0 billion and earnings of Rs. 2.5 billion. The decrease in revenue compared to same period last year was a result of cautious consumer spending accompanied by several strategic downward price adjustments, particularly in the Consumer Brands segment.

However, the Group’s ongoing commitment to efficiency improvements alongside favourable foreign exchange movements, contributed to enhanced profitability margins. Additionally, the initiatives aimed at optimising working capital combined with the advantages of a declining interest rate environment, led to a further reduction in finance costs thereby boosting earnings.

The country’s GDP recorded a growth of 4.7 per cent while the local currency demonstrated resilience, appreciating against the United States Dollar to 299.36. Furthermore, the Average Weighted Prime Lending Rate (AWPLR) closed at 9.3 per cent. The Colombo Consumer Price Index experienced a deflation of 0.5 per cent, primarily due to easing of food inflation. However, despite these positive indicators, people faced considerable pressure on purchasing power due to high direct and indirect taxes, resulting in ongoing affordability challenges.

Consumer Brands

During the quarter, the strengthening of the domestic currency and declining global commodity prices have led to aggressive pricing and promotion strategies among industry players, intensifying competition in key categories. A strong focus on value-for-money (VFM) options continues, reflecting the current constraints on purchasing power.

The stationery market experienced heightened competition as new brands continue to emerge. This influx has prompted some players to reduce prices, often at the cost of compromising quality. As consumers navigate this landscape, their focus remains firmly on affordability, leading to a gradual shift in their purchasing habits. More specifically, there is a notable trend toward VFM offerings, as consumers seek products that deliver both quality and cost-effectiveness.

The Consumer Brands Sector reported a cumulative revenue of Rs. 19.9 billion while the operating profit and earnings Rs. 2.5 billion and Rs. 1.8 billion for the year respectively.

The Sector reported a revenue of Rs. 11.0 billion for the quarter, while the operating profits and earnings increased to Rs. 1.7 billion and Rs, 1.2 billion respectively due to the improved profitability margins compared to the last year. Despite the decline in revenue compared to the same period last year, a combination of margin improvement and cost rationalization initiatives led to overall growth for the businesses.

Home and Personal Care

Although overall industry demand declined, company witnessed improvements in overall market share, consumer reach and product availability this quarter. Increased emphasis on personal and beauty care, along with efficiency enhancements and supply chain optimisations resulted in increased profitability margins.

While competitive pricing and promotions were introduced in key categories, new product launches gained positive momentum, enhancing brand visibility and consumer engagement. This quarter marked the successful re-launch of Vivya, strengthening the brand’s presence in the market.

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Browns Hotels & Resorts rings in a Tropical Christmas with festive cake mixing ceremony

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Browns Hotels & Resorts Corporate Chef Deepal De Alwis and General Manager of Occidental Eden Beruwala Channa Ekanayake hosting the cake mixing event

Browns Hotels & Resorts welcomed the holiday season with a vibrant Christmas cake mixing ceremony at Occidental Eden Beruwala, embracing the theme of ‘Christmas Made Tropical for You’. Known for its diverse portfolio featuring beachfront retreats, scenic highland hideaways and cultural destinations throughout Sri Lanka, Browns Hotels & Resorts (BHR) welcomed the season in style by promising an array of holiday events that will blend effortlessly with the island’s paradisal charm.

The annual cake mixing ceremony featured a delightful combination of exotic fruits, aromatic spices and a selection of spirits, all combined with festive flair. Hosted by Channa Ekanayake, General Manager of Occidental Eden, the ceremony brought together General Managers from BHR properties across the island, in-house guests and team members, each contributing to the lively celebration.

Guests enjoyed Santa’s arrival and dynamic dance performances that set the tone for the vibrant season ahead, along with festive cocktails crafted to enhance the holiday atmosphere. The cake mixing ceremony was a symbol of warmth and goodwill, reflecting Browns Hotels & Resorts’ commitment to creating joyful moments for all guests.

Speaking on the occasion, CEO Eksath Wijeratne remarked, “At Browns Hotels & Resorts, we are dedicated to customising your Christmas experience to suit your needs, all while infusing it with our unique tropical charm. We’re ready with a fantastic seasonal line-up and new food and beverage offerings that will make this holiday season truly memorable.”

This year, Browns Hotels & Resorts has planned a bespoke ‘Tropical Christmas’ celebration at each of its stunning destinations, including Dickwella Resort, Hotel Sigiriya, The Calm Resort Pasikuda, Thaala Bentota, Club Hotel Dolphin Waikkal, Occidental Eden Beruwala and Occidental Paradise Dambulla, ensuring that guests can experience the festive spirit infused with the warmth of the tropics wherever they choose to celebrate.

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ComBank and Hayleys Solar donate solar power system

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The Commercial Bank of Ceylon and Hayleys Solar recently donated a photovoltaic solar panel power supply system for the use of the Sri Kavantissa Vocational Training Centre in Tissamaharama and the Tissamaharama Raja Maha Vihara.

The 40kW on-grid solar power system benefits the students receiving vocational training at the centre as well as devotees from all around the island that visit the temple, and helps the two institutions to reduce their electricity costs.

The donation by the two companies flows from a strategic collaboration between Commercial Bank and Hayleys Solar to provide concessionary terms under the Bank’s ‘Diribala Green Development Loan’ scheme for businesses to purchase solar power systems from Hayleys Solar with a number of exclusive benefits.

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