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Two major acquisitions at CSE



By Hiran H. Senewiratne 

Two major acquisitions took place at the CSE this week. One was Vidul Lanka, which  acquired  50 percent of shares in Solar Universe Pvt Limited.  The company generates 10 megawatts for the national grid and operates a ground mounted solar power plant, stock market analysts said.

Accordingly, total investment for its acquisition and development of the project would cost around Rs 1.4 billion. Meanwhile,  Aitken Spence PLC acquired energy company Waltrim Energy Limited  for a financial consideration of Rs 900 million. The company generates 6.6 megawatts for the national grid, operating three plants in Nuwara Eliya. Waltrim was a subsidiary of Sunshine Holdings which owned a 60 percent stake while Mouldex owned the balance shares.

Amid those developments, CSE was bullish throughout the day and financial sector counters witnessed gains. Both indices moved upwards. All Share Price Index went up by 117.8 points and S and P SL20 rose by 48.10 points. Turnover stood at Rs 3.92 billion with four crossings.

Those crossings were reported in HNB, which crossed 3.9 million shares to the tune of Rs 516.7 million, its shares traded at Rs 132, JKH 200,000 shares crossed for Rs 29.8 million and its shares traded at Rs 148.75, Sampath Bank 500,000 shares crossed for Rs 27 million, its shares traded at Rs 54 and Lanka Walltiles 500,000 shares crossed for Rs 24.25 million, its shares traded at Rs 48.50. 

In the retail market, top companies that mainly contributed to the turnover were; Browns Investments Rs 500.7 million (87.2 million shares traded), Expolanka Rs. 361.2 million (7.4 million shares traded), Dipped Products Rs 285.5 million (5.1 million shares traded), Sampath Bank Rs 233.8 million (4.3 million shares traded), LOLC  Rs 216 million (685,000 shares traded), and Royal Ceramic Rs 165.7 million (517,000 shares traded). During the day 150.6 million share volumes changed hands in 21700 transactions.

LOLC  and Browns Investments were the main contributors to the All Share Price Index and their share prices also appreciated during the day. LOLC contributed 22 points. Its share price moved up by seven percent or Rs 20.25. Its shares started trading at Rs 304.50 and at the end of the day they moved up to Rs 324.75.  Browns Investments contributed 13 points. Its shares moved up by seven percent or 40 cent. Its shares traded at Rs 5.60 and at the end of the day they moved to Rs 6. 

The Sri Lankan rupee has come once again under pressure. According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the current buying rate of the US dollar on April 8 stood at Rs.199.21 and selling rate of the US dollar stood at Rs.203.50.This is the highest buying and selling rate recorded for the US dollar in history.

The decline of the rupee vis-à-vis the US dollar is likely to have a mixed impact on listed companies. Rupee will have a negative impact for companies, such as, Dialog Axiata, Hemas Holdings, Lanka Lubricants while the slightly negative counters are, Sunshine Holdings, Tokyo Cement (Lanka), Acccess Engineering, Cargills (Ceylon) and Ceylon Cold Stores.

Those which will benefit from a depreciation include, JKH, banks, TeeJay, Hayleys Fabric, Dipped Products and hotels; though at present tourist arrivals are very low.

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



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


 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



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



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


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