Business
Hatton Plantations sharpens competitive edge through strategic partnership with Regency Teas
Hatton Plantations (HPL) is entering into a Partnership with Regency Teas, a milestone in the company’s rapid and remarkable progress. In a share trade off completed this week, Regency Teas has made a strategic investment of LKR 290M by acquiring close to 30 Million Hatton Plantations (HPL) shares from Lotus Renewables (LRE), representing 12.28% of HPL’s share capital, an announcement made to CSE stated.
Lotus Renewables is an energy sector leader in the country, with a diverse company portfolio including HPL. One of Sri Lanka’s largest tea producers, HPL generates close to 10 million kilograms of tea, with 14 estates and 11 factories. Its plantations span is in excess of 7,200 hectares of land,and its premium quality high grown teas are grown in estate elevations reaching 4,800 ft above sea level.
Upon completion of the transfer, Lotus would continue to hold the majority shareholding of 75.65%.The proceeds of the share sale will be used by Lotus primarily to expand its renewables and agricultural portfolio.
Hatton Plantations is expected to benefit from Regency Teas’management expertise and vision, especially with its standing as a leading exporter of value added tea from Sri Lanka to over 25 countries worldwide. With a tea-bagging capacity of 3 million tea bags per day, its production plant is certified with all modern quality certificates including ISO 22000 and FSSC 22000. Regency’s products are also certified with Halal, Kosher and Organiclabels.
Commenting on the sale announcement, Gary Seaton, chairman of LRE and HPL said, “The combination of these two great companies — Regency and Lotus — within the folds of the HPL business ecosystem enables to scale, portfolio, selling and distribution capabilities to leverage competition in the race for excellence in the Sri Lankan tea industry. With a large portfolio of brands and being a leading tea export business, Regency has the ability to satisfy any tea connoisseur’s need. I am honored to be one of the leaders of this great expanded team — and excited that together we will challenge this industry in a new way.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
