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A series of gruelling field tests commissioned by CEAT Kelani Holdings for some of its top-selling motorcycle tyres has concluded that they hold their own against those of the two biggest competing brands, one from Sri Lanka and the other from India.
The benchmarking exercise was conducted at India’s state-of-the-art National Automotive Test Tracks (NATRAX) of the National Automotive Testing and R&D Infrastructure Project (NATRiP) in Indore, and at CEAT India’s corporate R&D facility in Halol, the Company said.
Matching tyres from a leading Sri Lankan motorcycle tyre brand and a top Indian brand were tested alongside five motorcycle tyres manufactured in Sri Lanka by CEAT, on multiple key value propositions (KVPs) – handling stability, ride comfort, straight line stability, character curves, limit handling, brake stability, dry and wet braking index and distance.
The final test scores indicated that the CEAT 140/70-17 Zoom XL, 90/100-10 Gripp X3, and 100/90-17 Gripp tyres were superior in some aspects, and on par in terms of other features with the products of the competitor brands, the Company disclosed. The tested tyres are those that fit the Yamaha FZ, Honda Activa, Bajaj Pulsar, Bajaj Platina and Hero HF Deluxe motorcycles.
Commenting on this exercise, CEAT Kelani Managing Director Ravi Dadlani said: “Lives literally ride on motorcycle tyre, and we periodically invest in rigorous testing of key aspects of our products on purpose-built tracks. This is part of CEAT’s continuous product development strategy that is closely integrated with consumer insights and research findings. Insights suggested that tyre pattern features that support ride and handling, traction and grip, and better cornering capability are some of the key requirements of motorcycle tyre users. These requirements defined the parameters of our latest KVP tests. The test results drive our product development and performance enhancement processes and lead to the introduction of a new and improved tread patterns.”
The latest KVP test report revealed that overall, the CEAT motorcycle tyres excel in dry and wet grip features when compared with the leading competitor brands. Specifically, the CEAT Gripp and Gripp X3 patterns are superior in their dry and wet grip features, ride and handling and breaking stability, and display exceptional wheel balance in comparison to the two leading brands they were benchmarked against.
Furthermore, the Zoom XL tyre pattern emerged on par in performance with the two competitors with regards to ride and handling, braking stability, dry and wet grip, and wheel balance.
Meanwhile, it was observed that the Secura Zoom and Milaze tyre patterns could improve in the ‘ride and handling’ parameter which has prompted CEAT to develop a new product by adapting a superior pattern technology based on the findings. Subsequently, the improved Zoom X3 tyre pattern was launched which shows enhanced performance in ‘ride and handling.’ Additionally, CEAT is also in the process of developing another product for this segment with a new variant of compound that promises further improvement in performance, Dadlani said.
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The Colombo Stock Exchange (CSE) is announces the appointment of Dilshan Wirasekara as the Chairman of the Board of Directors of the CSE with effect from 24th June 2022. Wirasekara has served on the Board of the CSE since 21st November 2017 and succeeds Dumith Fernando, who steps down as the Chairman after completing his two-year tenure.
Wirasekara is the Director/Chief Executive Officer of one of the leading investment banking firms, First Capital Holdings PLC, offering a diverse range of financial services in Government Securities, Corporate Finance and Advisory, Asset Management and Stock Brokering, which he has been part of since 2013.
He currently is the chairman of the Investment Subcommittee of the CSE and also serves on the Risk and Audit Committee of the CSE as well as the CSE/SEC joint committees on Digitalization and the Central Counter Party System (CCP).
An Investment banker by profession with a career spanning over 26 years, comprising diversified expertise in financial services, including banking, treasury and investment management, capital market strategy, and corporate finance advisory services. Wirasekara specializes in Asset and Liability Risk Management, having secured the accolade of leading and representing two Sri Lankan companies in winning the International Bank Asset and Liability competition organized annually by the Netherlands Development Finance Company (FMO), German Investment Corporation (DEG), and Proparco – a subsidiary of the Agence Française de Development (AFD).
Wirasekara is an alumnus of INSEAD, having completed his Executive Professional Education at INSEAD Business School in Fontainebleau, France. He is also an alumnus of AOTS, Tokyo, Japan.
The CSE moved up marginally yesterday with the announced Expolanka Holdings’ Rs 8.19 cash dividend per share the previous day. The stock market rallied because the Expolanka dividend payment is quite attractive at this juncture, market analysts said.
Sri Lanka’s giant logistics multinational and most valuable listed entity Expolanka Holdings yesterday thrilled investors with a hefty Rs. 8.19 per share cash interim dividend for financial year 2023, market analysts added.
In the financial year 2022 Expolanka paid a dividend of Rs. 1.17 per share and 50 cents per share in financial year 2021. The interim dividend was announced after the market closed yesterday. Expolanka in the financial year 2022 announced stellar results amidst global and local shocks, reinforcing its resilience and fruition of its recent strategies, market watchers said.
Accordingly, the Expolanka share price appreciated by Rs 13.50 or 7.8 per cent. During the day the share price shot up to Rs 180.75 from Rs 172.25.
Amid those developments both indices moved upwards. The All-Share Price Index went up by 43.9 points and S and P SL20 rose by 21.6 points. Turnover stood at Rs 1.1 billion with two crossings. Those crossings were reported in Commercial Bank, which crossed 980,000 shares to the tune of Rs 49 million, shares traded at Rs 50 and HNB crossed 502,000 shares to the tune of Rs 40.1 million; its shares traded at Rs 80.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 386 million (2.1 million shares traded), Browns Investments Rs 141 million (16.9 million shares traded), HNB Rs 117 million (1.4 million shares traded), Royal Ceramic Rs 93.8 million (3.3 million shares traded), Lanka IOC Rs 39.9 million (582,000 shares traded), JKH Rs 28 million (230,000 shares traded) and LOLC Holdings Rs 23 million (54000 shares traded). During the day 43.7 million share volumes changed hands in 9500 share transactions.
Yesterday, the Central Bank announced the US dollar buying rate as Rs 356.67 and the selling rate as Rs 367.39.Commercial Banks were offering US dollars for telegraphic transfer at around Rs 368 to Rs 370 dollars for small transactions as the country is facing severe forex shortages.
Banks offered to buy inward remittances at Rs 357.90. A ‘guidance’ rate for interbank transactions announced by the Central Bank was also unchanged at Rs 360.90 the previous day.
The Non-Financial Reporting (NFR) Guideline to promote non-financial reporting practices among companies would enable the sustainability of any business entity and lead to social governance for the betterment of society, Securities and Exchange Commission of Sri Lanka (SEC) chairman Viraj Dayaratne said.
“Developing a NFR Guideline for listed and non- listed companies when preparing annual reports promotes not only the sustainability for the organization but also helps it to promote social equity and justice and fairplay, Dayaratne said at the launch of the Chartered Accountants of Sri Lanka’s Non- Financial Reporting Guideline for companies. The event was held at the CA- Sri Lanka auditorium on Wednesday.
The SEC chairman said that having a NFR guideline of this nature would enable business leaders to take future decisions, like investments on behalf of the company, and also enable them to take sustainability related risks for companies in a competitive business environment.
Dayaratne added: ‘Best accounting standards create public confidence while the Non-Financial Reporting Guideline will support the company’s integrated corporate activities.
‘SEC, being the stock market regulator, intends to promote these NFR Guidelines among listed companies. This Non- Financial Reporting Guideline will strengthen and ensure fair and balanced corporate reporting among companies, while also promoting non-financial reporting practices amid growing demands from diverse stakeholders and enhancing corporate social responsibility.’
CA-Sri Lanka president Sanjaya Bandara said that the aim of this guideline is to help companies show high quality relevant useful, consistent and comparable non-financial information spanning economic, environmental, social and governance related matters to ensure sustainable growth while providing transparency and accountability to all stakeholders of corporates that produce annual reports
“This guideline will firstly provide a new framework for reporting non-financial information and also the development of the capital market in our country, Bandara said.
Chairman, CA Sri Lanka Task Force to Develop Non-Financial Reporting Practices in Sri Lanka Nuwan Withanage said that the NFR Guideline has been developed with the aim of delivering investor oriented sustainability related disclosures, focused on enterprise value creation over the short, medium and long terms.
The NFR Guideline has been developed for all entities, including listed and unlisted as well as large to small and medium sized enterprises in Sri Lanka, which produce annual reports and follow the Economic, Environment, Social and Governance (EESG)framework.
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