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Two Aitken Spence companies rank in the top 10 Most Awarded by LMD

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Aitken Spence PLC and the Aitken Spence Hotel Holdings PLC emerge in the top 10 Most Awarded by LMD. Aitken Spence is the only Group that has two companies in the top 10 ranking. This is an inaugural edition of the Most Awarded ranks of the nation’s most revered corporations. Aitken Spence (19 awards) and Aitken Spence Hotel Holdings (18) round off the top 10 in the Most Awarded listing for 2019/20. The total number of awards describe the cumulative awards won between January 2019 and September 2020.

These are outstanding achievements both at home and abroad, bringing immense pride to the business community and nation as a whole. Aitken Spence PLC and Aitken Spence Hotel Holdings PLC are honoured to be in the top 10 among the 125 of the organisations that make up the complete rankings.

Commenting on this honour, Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director Aitken Spence PLC said, “Our efforts are not targeted towards solely winning awards. However, winning an award sharpens our focus and gives us valuable external perspectives. It is one means of monitoring, measurement and compels innovation. In all award platforms, we have consistently shared our performance, and we have used their feedback to improve our processes.”

“It brings us together to celebrate the efforts of our hard-working teams and is a powerful validation of the work they have done. It is also a reflection of how we are perceived,” he further commented.

With an indisputable repute as one of Sri Lanka’s pioneering corporates, Aitken Spence is a blue-chip conglomerate anchored to a heritage of excellence spanning over 150 years. Listed in the Colombo Stock Exchange since 1983, Aitken Spence is a responsible enterprise driven by over 13,000 employees across 9 countries, in hotels, travels, maritime, freight and logistics solutions, plantations, power generation, insurance, printing, apparel and other services. Creating opportunities for Sri Lanka across new frontiers, Aitken Spence PLC is an organisation committed to the development of Sri Lanka.



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Business

Market liquidity tightens as govt borrowing siphons funds from banking system

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The total outstanding market liquidity surplus or excess funds available in Sri Lanka’s banking system for lending and transactions declined by Rs. 36.65 billion in a week, according to the Central Bank’s latest economic indicators report.

An economic researcher analysing the data noted: “Treasury bill and bond auctions likely drained liquidity. If this tightening persists, short-term interest rates could rise, raising borrowing costs and potentially slowing economic growth. The situation warrants close monitoring, especially as the manufacturing sector is already facing a slowdown whether due to seasonal or structural factors.”

The report also highlighted the following developments in Sri Lanka’s economy:

Fiscal improvements: The deficit has narrowed but remains elevated.

Sectoral trends: The stock market rallied, and the services sector showed slower expansion (tourism, retail and IT driving resilience).

Total expenditure and net lending increased to Rs. 1,301.9 bn during the three months ending March 2025 compared to Rs. 1,197.5 bn in the corresponding period of 2024.

During the three months ending March 2025, the overall budget deficit decreased to Rs. 234.5 bn compared to Rs. 281.3 bn recorded in the corresponding period of 2024

The rupee value of T-Bills and T-Bonds held by foreign investors decreased by 2 per cent in comparison to the previous week.

“The April 2025 industrial slowdown points to weaker output, likely due to seasonal factors such as holidays or subdued demand. However, this was partially offset by an expansion in the Services PMI, offering some relief. The broader economic outlook for Sri Lanka remains uncertain, as these mixed signals unfold as Sri Lanka would receive a tariff letter from the US in the coming weeks. With market liquidity already tightening due to government borrowings from the banking system, policymakers face mounting challenges in balancing growth and stability,” the economic researcher noted.

By Sanath Nanayakkare

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AIA Sri Lanka ‘Pawfect Match’ campaign

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AIA Sri Lanka’s ‘Pawfect Match’ campaign, in partnership with animal welfare groups, inspired 500+ adoptions of stray pets. The initiative highlighted adoption, responsible ownership, and compassion, tackling Sri Lanka’s stray animal crisis. AIA thanks all supporters for their life-changing impact.

The campaign served as a reminder that even small acts of kindness like adopting a stray can make a big impact. It also provided an opportunity for the public to learn more about responsible pet ownership, animal rights, and the importance of compassion toward all creatures.

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Calton wins National Industry Brand Excellence award

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Mahesh De Silva , Director - Finance and Information Technology - Calton Group receives the award

Calton Sweet House Pvt. Ltd., a key part of Calton Group, was honored as the Best National Industry Brand in the Medium-Scale Food and Beverage Sector at the National Industry Brand Excellence Awards 2024, organized by the Industrial Development Board. Deshamanya Mahesh De Silva, Director of Finance and IT at Calton Group, accepted the award.

Established in 1991, Calton Sweet House has over 30 years of excellence, specializing in cakes, snacks, and frozen bakery items, with 20+ outlets across Negombo, Katunayake, and Colombo, including at Bandaranaike International Airport. The company holds ISO, HACCP, and GMP certifications, ensuring top-quality standards.

Starting as a small store in 1983, Calton Group now employs 300+ staff and operates multiple businesses, including Calton Hyper Market and Calton Catering, while partnering with global brands like Unilever and Upfield. The group remains committed to serving customers with high-quality, safely packaged food products.

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