Business
Twin wins for Teejay Lanka at Presidential Export Awards
Teejay Lanka PLC, Sri Lanka’s leading fabric manufacturer, won twin awards as the ‘Best Textile Exporter’ in Sri Lanka at the combined 2019-20 and 2020-21 Presidential Export Awards ceremony hosted by the Export Development Board (EDB).
These are Teejay Lanka’s second and third consecutive ‘Best Exporter’ awards in the Knitted Fabric Sector. The Company won this title for the first time on its debut at the Presidential Export Awards in 2019. The combined awards ceremony marks the 24th edition of this awards programme and was necessitated by the COVID-19 pandemic which prevented the conduct of last year’s ceremony.
The Best Textile Exporter awards were presented to Teejay in recognition of its outstanding contribution to the export sector and to the economic development of Sri Lanka. Teejay Lanka which has been on a steady growth trajectory over the years reported a total revenue of US$ 112.9 million for 2020-21 and US$ 109.2 million for 2019-20. Of this, 11 per cent (about Rs 2.4 billion at current exchange rates) was generated by exports to customers in Bangladesh, Italy, India, and Haiti in 2020-21, while in 2019-20, exports of approximately Rs 5 billion represented 23 per cent of revenue.
“These awards are a testament to our resilience and adaptability in turbulent times,” Teejay Lanka CEO Mr Pubudu De Silva commented. “Despite the disruptions created by the pandemic and the increase in prices of cotton and other inputs, we have maintained our growth trajectory and retained our status as Sri Lanka’s top knit fabric exporter for three years in a row. The Group is now focused on catering to our customers’ next phase of fabric requirements with synthetic and niche fabric offerings that are high in quality and value.”
Matching Teejay Lanka’s milestone accomplishments, its wholly-owned subsidiary Teejay India too has been recognised for its outstanding services to the textile industry. For the financial years 2018-19, 2019-20, and 2020-21, the Company won Best Exporter Awards in the Visakhapatnam Special Economic Zone (VSEZ) at the Export Excellence Awards presented by the Export promotion Council for Export Oriented Units (EOU) and Special Economic Zones (SEZ).
Teejay has invested $ 26 million to increase the India plant’s daily output by 20 tons, which is aligned with the Group’s focus on building its synthetic fabric manufacturing capacity in Teejay India and would contribute to the Group’s target of becoming a US$ 300 million business by 2023. The first phase of expansion under this project is expected to come on line in January 2022, adding five tons a day to production capacity.
The 24th Presidential Export Awards ceremony for the financial years 2019-20 and 2020-21 was held on 26th November at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of President Gotabaya Rajapaksa.
Sri Lanka’s largest textile manufacturer and the first textile manufacturer in the country to receive membership of the US Cotton Trust Protocol, Teejay Lanka PLC is a public quoted company with 40 per cent public ownership. The company is backed by Sri Lanka’s largest apparel exporter Brandix Lanka which has a 33 per cent stake. Pacific Textiles of Hong Kong whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 27 per cent of Teejay Lanka.
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.”
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