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CCS to venture into new beverages
Hiran H. Senewiratne
Ceylon Cold Stores (CCS), which dominates the biggest market share in
the carbonated soft drink business is looking at possibilities to
venture into new beverage categories in the future, its sources said.
“The company has invested Rs. 800 million by adding two bottling
lines at Ranala factory with the intention of introducing new beverage
categories,” CCS Head of Beverages S. Srikanth told the Daily News
Business.
He said by next year, new products will enter the local markets,
which are international level drinks to give a novel experience to Sri
Lankans. These new beverage categories would be available in competitive
prices for the mass market, he hinted.
CCS currently enjoying a market share of 45 per cent in the
carbonated drinks is exporting to more than 30 countries. The company
exports more than 100 containers of carbonated soft drinks and their
premier brands are Necto and Elephant Ginger Beer (EGB). The company
exports to European markets including UK, France, Switzerland, Australia
and the Middle Eastern markets, he said.
With these developments the company was able to record a 50 per cent
growth in the business, despite all odds and tribulations during the
recent past, Srikanth said.
He said over the last few years the beverage market was a stagnant
market, CCS was able to record a good profitability in the beverage
sector and their share prices went up quite well due to the innovative
market practices. Currently, they have 80,000 outlets throughout the
country and they recognised 180 dealers at the recently concluded dealer
convention, he said.
The company’s icecreams market is doing well and was able to register
a market share of 65 per cent during the recent past.
The company also exports icecream to the Maldives and there they
command a market share of 55 per cent, its Category Head Frozen
Confectioneries, Neil Samarasinghe said.
He said they manufacture more than 15 to 20 flavours of ice cream
with new value added products and operate through 20,000 outlets.
People’s Leasing wins Gold Star Quality Award
People’s Leasing Co. Ltd. (PLC) has won the world class Star Award
for quality in the Gold Category at the 33rd International Business
Initiative Directions (BID) Quality Convention held in Geneva, in
recognition of its commitment to Quality, Leadership, Technology and
Innovation.
The event was organised by BID, located in Madrid, Spain and strongly
committed to building better business reputation worldwide.
The presentation of the International Star Award for Quality (ISAQ)
took place on October 27, in the Convention Hall of the Intercontinental
Hotel in Geneva, Switzerland.
The event was presided by the Executive President/CEO of BID Jose E.
Prieto, along with many outstanding personalities from high caliber
corporates of 52 countries in the business world.
In this manner the BID symbol has made its presence known among 178
countries around the world, and has created a firm ground for the
implementation of an original quality process through the technology and
procedures of the QC 100 Total Quality Management.
This Gold Category Quality Award was received by Chairman,
PLC/People’s Bank W. Karunajeewa, who led the two member delegation,
along with Senior Manager Andy Ratnayake, representing People’s Leasing
Co. Ltd. Upon receipt of this Gold Award, W. Karunajeewa said, “It was
indeed a unique and well represented awards convention, bringing PLC and
People’s Bank to the limelight in front of an international audience.”
The purpose of the Quality Convention Geneva 2008 was to recognise
the commitment to quality of award-winning companies, whose activities
cover the top areas of industrial product and services, including
financial service products.
All awardees in the corporate sector, representing 52 countries from
all over the world, were commended for achievement in quality and
excellence.
South Asia prime for Infrastructure Investment - MTI
Addressing the World Infrastructure Investment Conference in Doha
recently, MTI Consulting shared their findings from a recent study on
the attractiveness of the Asian Markets, with particular emphasis on the
Indian Sub-Continent. The report identified the region as a destination
for potential Gulf Investment Dollars, which has predominantly been
targeted at the home markets so far.
CEO of Bahrain based MTI Consulting, Hilmy Cader, urged the Gulf
Investors to look beyond the Gulf to Asia - on the premise that most
Gulf States have reached maturity levels on infrastructure and that
emerging nations, even after factoring in the risk element, represents
an attractive opportunity for these Petro-Dollars.
MTI, based on their research, had identified four key sectors for
Infrastructure Investments.
Power and Utilities was identified as a key area. India’s capacity
shortfall is expected to rise to possibly 37 per cent with other
regional countries having significant capacity shortfalls as well.
Estimates indicate that USD 80 billion worth of private funding will be
needed for these areas in the region.
Demand for Healthcare was identified as another key area, primarily
driven by the demand for health-infrastructure to support the middle
class and poor.
India is expected to need USD 50 billion over the next decade. While
countries such as Singapore and Thailand are already well established,
Medical Tourism will continue to spread through India and the rest of
the region.
The ports of India and China are servicing strong regional growth
with Transshipment and value addition demand trends making Transport and
Ports to be identified as a further key area.
USD 75 billion is needed in India by 2010 with 65 per cent of this
expected to come from the private sector. Recently the Emirate of Ras al
Khaimah took controlling stake of the Georgian Black Sea port of Poti,
and will set up a free industrial zone, investing USD 200 million over
the next four years.
This zone is expected to create more than 20,000 jobs in the region.
The Mining industry is a significant stakeholder in the growth in the
South Asian region as well as the BRIC countries.
The demand from India and China and the rest of the region is
expected to continue to be robust as they move closer to home to
optimise transportation costs relative to Africa and Latin America.
MTI has worked on over 275 client-specific assignments across 33
countries. MTI’s consulting solutions include core business strategy
solutions such as Strategic Planning and Restructuring as well as
specialised solutions in Marketing, Brand Management and Sourcing,
Internationalisation and Partner Identification, Sales and Channel
Management, and Service Quality, Web Strategy and Technology
Optimisation.
Colombo’s shoppers can step into a world of palatial elegance this
festive season at Odel, following the transformation of the iconic
lifestyle retailer’s landmark Alexandra Place department store into a
glittering edifice of Silver and Gold in celebration of Christmas.
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The Odel
store |
The 35,000 square-foot colonial era building has undergone a Rs. six
million makeover inside and outside to match the chosen theme for this
Yuletide season — ‘Picture of Elegance’ - offering shoppers an oasis of
style and grace reminiscent of a bygone era of grandeur.
Grand chandeliers dangle from the ceilings, striking silver and gold
patterned wall paper adorns the walls, and ornate picture frames
embellish the displays, creating a setting far removed from the mundane
and crowded spaces that shoppers have come to accept in the festive
season.
“We wanted to give shoppers an extra-special experience this
Christmas,” said Odel’s founder and CEO Otara Gunewardene. “Shopping
during the festive season can be a hassle, and we know that our
customers have their share of pressures and stress. Here, for at least
one brief, shining moment, they can step out of the mundane and into a
world of elegance and style.”
“Odel has become much more than a location for shopping,” she noted.
“People come here to meet friends and relax over a snack or a glass of
wine, to have fun browsing, or simply to take a break from the hectic
world outside.” With this in mind, Odel has made arrangements for a
choir, opera singers and a jazz ensemble to entertain visitors on
alternate days throughout the Christmas season.
The popular store Santa Claus will be back with gifts for children,
spreading good cheer among the naughty and the nice.
A huge range of Christmas theme gift items in Silver and Gold, the
latest in high street fashion and all the accessories, food, beverages,
gift wraps and trinkets that make up a shopping list at Christmas have
already been brought in from all parts of the world.
“Christmas always comes early to Odel, and this year is no
exception,” Gunewardene added.
Launched on November 8, the luxurious new in-store decor of Odel
Alexandra Place will be extended to Odel outlets at Kohuwela, Ja Ela,
Majestic City, Dickman’s Road and the Bandaranaike International Airport
by November 20, and will remain in all outlets till January 11. As is
customary, the ‘Lipton’s Circus’ roundabout outside Odel will also be
decorated in the same silver and gold theme for the festive season.
Indices plunge amidst weak corporate earnings
Indices tumbled as stocks sustained a downward trend throughout the
week on the back of sluggish investor sentiment. The weak corporate
earning results coupled with unsettled global equity markets continued
to add pressure on the market while as a result, week on week the ASPI
(All Share Price Index) ended 5.6% or 106.4 points lower at 1783.9
points while the more sensitive MPI (Milanka Price Index) closed down by
6.4% or 135.5 points at 1989.2 points.
The banking stock DFCC accounted for 38% of market turnover during
the week supported largely by Friday's crossing, which amounted to
Rs.360 million, based on 4.4 million shares that went through at a price
of Rs.82 per share.
The share fell by a notable 9.8% against its week's opening to close
at Rs.83 per share, after trading between a price range of Rs.82.25 and
Rs.85.50 per share.
Another stock which came among the top contributors during the week
was Sunshine Holdings which had over 1.0 million shares traded during
the week, adding closer to Rs.129.8 million to the week's turnover.
Sunshine Holdings on Monday saw a large deal consisting 1 million of
its shares changing hands at a price of Rs.125 per share, which
constituted almost 73% of the day's turnover.
The share price of Sunshine Holdings witnessed a marginal increase of
0.2% for the week to close at Rs.125.25 per share.
Ceylon Cold Stores was a yet another stock that saw a crossing taking
place during the week.
On Friday 0.7 million shares of Cold Stores changed hands at Rs.135
per share amounting to a total turnover of Rs.93.1 million becoming the
3rd highest contributor towards weekly turnover.
WoW the share price of Cold Stores picked up by 22.7%.
Distilleries saw its share dipping 5% WoW to close at Rs.52.25 per
share after fluctuating within a price band of Rs.52 and Rs.57 per share
for the week.
The stock's total contribution towards the week's market turnover
amounted to Rs.50.7 million while the total number of Distilleries
shares traded during the week amounted to nearly 1 million.
Activity levels were low during the week except on Friday, which
posted almost twice the turnover of the first three days (The week was
restricted to four trading days), prompted largely by the crossings on
DFCC and Cold Stores.
Total weekly turnover for the week thus showed a 41.3% increase to
amount to Rs.940 million while the average daily turnover stood at
Rs.133 million showing a 76.6% improvement compared to last week.
Foreign input was virtually unseen during the first three days of
trading as foreign participation of total activity stood at a mere of
1.5%.
However with Friday's heavy foreign activity the participation level
jumped up to 27.0% for the week.
Foreign purchases and foreign sales respectively showed a 191.7% and
a 104.7% improvement to stand Rs.387.1 million and Rs.121.0 million for
the week. The resultant net foreign inflow was Rs.266.1 million for the
week, up by a massive 261.5%.
The highest traded stocks during the week were Nawaloka, DFCC,
Vallibel and Sierra Cables.
Point of view
Sentiment to remain negative amidst gloomy earnings outlook
Indices slipped throughout the week as cautious investors remained on
the sidelines. During the week All Share Price Index (ASPI) lost 5.6%
while the Milanka Price Index (MPI) shed 6.4% compared to last week's
closing levels.
We do not expect the sentiment to get a boost amidst dismal corporate
earnings outlook. Most companies witnessed their profits shrinking in
the back of reducing margins and in our opinion the pressure on earnings
would continue in the short to medium term with interest rates and
inflation still remaining high.
Thus we advise investors to adopt a cautious approach as a result of
weak fundamental outlook on equities.
(This information has been compiled from sources that we believe to
be reliable but we do not hold ourselves responsible for its
completeness or accuracy)
The Sri Lankan Government has taken action to provide equipment for
IT education at schools and universities through STC General Trading
Company.
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Chairman of STC General Trading
Pradeep Gunawardana and MD of Sala Chinthaka Wijewickrema at
the opening.
Picture by Sudath Nishantha |
The first step towards this process was the opening of a showroom /
sales outlet by Minister Bandula Gunawardana at the STC premises on
Thursday.
The Minister said that STC General Trading has broken its history by
ending its financial year without bank over drafts, in the recent years.
He said relief will be provided to students in lesser income groups
through this medium.
Referring to Upahara package the Minister said that it was much
appreciated by everyone, similarly the Minister said that this relief
measure too would be of immense help.
Chairman of STC General Trading Pradeep Gunawardana said together
with Sala Technologies and STC as the main Government institution which
supplies computer and communication appliances, opened this show room
with the intension of providing the latest computers and communication
appliances under one roof at affordable prices.
Managing Director of Sala Chinthaka Wijewickrama said his main
objective is to introduce the latest computer and appliances to Sri
Lanka within a very short period.
(Lankapuvath)
Attractive savings schemes from The Finance Company
The Finance Company with 68 years of expertise and competence in the
financial market, is the largest Finance Company in Sri Lanka having
more than 42 branches and 18 Service Centres islandwide.
The Finance has introduced two minor savings accounts namely “Raja
Daruwo” and “Kiri Mavu Surakum” with special benefits to children. With
“Raja Daruwo” we offer higher rate of interest 10% and attractive gift
scheme as the balance grows.
Those are starting from Caps, Mugs, School Bags, and even includes
Electric Key boards, Guitars, Bicycles, Portable CD Players, Mobile
Phones, DVD Players, Etc. Also, the child is entitled for a Health
Insurance Scheme up to a maximum of Rs. 100,000 per annum. Any
parent/Guardian can open an account for their child with just Rs. 100.
“Kiri Mavu Surakum” the newest minor savings account with a valuable
concept of releasing a cow from being slaughtered. Milking cows so saved
will be sent to Sanctuaries maintained by Ceylinco Consolidated in
Meegoda, Rambukkana and Tangalle at present.
Any one who opens this account for his/her child with a initial
deposit of Rs. 15,000 will automatically contribute towards this
meritorious act while enjoying the highest rate of interest of 15% per
annum. The more funds you deposit to your child’s account, more
contribution will be made by TFC towards the fund maintained for the
above purpose. Under this scheme child will be entitled for a Health
Insurance Scheme of Rs. 100,000 per annum.
For adults, the company has two types of accounts ie. “Normal
Savings” and “Super Savers”. Normal savings can start with Rs. 250 and
the rate of interest will range from 9% up to 12.5% as the balance
increases. “We have revolutionised the savings market by introducing
“Super Saver” with highest rate ever paid, to a savings account.
“Customers can open a “Super Saver” with a minimum of Rs. 100,000 and
the rate of interest will be 17% p.a., yet no restrictions on the number
of withdrawals permitted.
For both accounts the company issues debit cards free enabling
customers to withdraw at any VISA ATMS islandwide any time.
Sports fans in the South get a taste of VIVA
GlaxoSmithKline (GSK) - together with Sri Lanka’s cricketing hero
Kumar Sangakkara recently drove an exciting and motivating programme
targeting sports fans in the southern coastal belt.
Flanked by the GSK brand team and a lively paparai band, Sangakkara
drew hundreds of fans to the streets.
The crowd was not disappointed as the star cricketer took time to
sign autographs and pose for photographs as the GSK convoy made its way
through Panadura, Kalutara, Aluthgama, Bentota, Ambalangoda, Galle and
Matara.
The fans were also treated to free VIVA drinks and VIVA merchandise.
Speaking on the company’s drive to show its appreciation towards
sports fans and VIVA drinkers, Managing Director GSK Jayant Singh,
consumer healthcare said “VIVA drinkers are synonymous with sports, fun
and adventure.
We wanted to have a special event like this to say thank you, and
give true sports fans the opportunity to meet an inspiring sportsperson
who personifies the spirit of VIVA. So who better to be the person for
this than our brand ambassador and national cricket idol Kumara
Sangakkara.”
He added “The programme has been a tremendous success.
Just to see the happiness on the faces of fans has been fantastic.” |
