BIZ

Supreme Media and TNL forge historic alliance

Published

4 weeks ago

April 1, 2024

nipuni

Supreme Media, one of Sri Lanka’s fastest-growing channels, has announced a strategic partnership with TNL, first privately owned television broadcaster and pioneering force in the nation’s electronic media landscape.

This landmark alliance aims to significantly expand the reach and offerings of Sinhala language television and electronic media across the country, marking a momentous chapter in Sri Lanka’s media industry.

Under the inspiring slogan “Mage Handa Mage Rata – My Voice My Country,” Supreme Media has embarked on a new brand journey, committed to delivering unique and premium content to a diverse audience.

With the strategic collaboration with TNL, Supreme Media’s reach is set to more than double, enabling it to connect with a broader spectrum of viewers and fulfill its brand promise effectively.

The partnership extends into the radio domain, with TNL’s radio channels at 89.1 and 89.3 MHz undergoing a rebranding as ‘Supreme,’ echoing the inspiring brand message of “Mage Handa Mage Rata.

” This expansion solidifies Supreme Media’s position as a comprehensive media network, encompassing two TV channels, one radio channel, and three digital channels.

This alliance comes at a pivotal moment for Supreme Media, coinciding with the launch of the Indian Premier League (IPL) cricket matches on its platform.

The availability of IPL matches on Supreme’s platforms provides cricket enthusiasts across Sri Lanka with diverse viewing options, bringing the excitement of IPL closer to every home in the country.

With a long-term partnership in place, Sri Lankan media audiences can anticipate a broadened spectrum of unique and premium Sinhala language programming and news coverage.

Beyond entertainment and infotainment, Supreme Media aims to serve as a trusted media companion, touching the lives of viewers in multiple ways, guiding, mentoring, and comforting them through life’s journeys.

BIZ

Supreme Global Holdings enters bidding to acquire SriLankan shares

Published

23 hours ago

April 29, 2024

editor

Supreme Global Holdings, a conglomerate owned by R.M. Manivannan, has entered the bidding process to acquire shares of the national carrier – SriLankan Airlines.

According to a media release by the company issued in this regard, the Expression of Interest (EOI) process, which concluded last week (Apr 27), saw the participation of Supreme Global, under Sherisha Technologies Private Limited.

Sherisha Technologies Private Limited, formerly known as SunEdison Energy India Private Limited.

Last week it was reported that six (06) Request for Qualification (RfQ) were received from potential investors for the acquisition of shares in SriLankan Airlines Limited.

Sherisha Technologies Private Limited was among the six entities.

Supreme Global Holdings is also known for having formed a robust consortium including MBS Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani of Qatar.

Apart from its recent bidding for SriLankan Airlines, Supreme Global Holdings previously assisted Sri Lanka during the energy crisis faced in 2022, by extending over USD 1.5 billion in credit to Sri Lanka, along with innovative payment solutions such as accepting Sri Lankan rupees for oil payments.

BIZ

Oriflame exiting Sri Lanka due to economic challenges

Published

2 days ago

April 28, 2024

editor

Oriflame, a global beauty company, has announced its decision to withdraw from the Sri Lankan market effective 15 May 2024, citing a range of economic challenges that have made its operations unsustainable.

In a statement released, Oriflame expressed deep regret over its departure from Sri Lanka, a market it has been a part of since 1997. Despite years of dedication and resilience in the face of various challenges, the company cited a confluence of factors that have rendered its operations untenable.

“Unfortunately, despite our efforts, the macroeconomic environment, characterised by a series of financial crises, the global impact of COVID-19, stringent import restrictions, fluctuating exchange rates, increased operational costs and regulatory changes has significantly hindered our operations. These factors have made it unsustainable for us to continue our business in the foreseeable future,” it added.

Oriflame expressed gratitude to its brand partners, leaders, staff and stakeholders for their unwavering support, dedication and contributions over the years. Special acknowledgment was given to top leaders who have played integral roles in the company’s growth and success, being part of the top 15 council over the years.

This decision was not reached lightly. We have always been committed to nurturing the Oriflame dreams in Sri Lanka. However, the combination of these economic and operational challenges means that the outlook for our business in Sri Lanka does not align with our expectations for long-term profitability and growth,” the statement read.

The company concluded by expressing gratitude for the partnership with its stakeholders and extended best wishes for their future endeavours.

(www.ft.lk)
(Except for the headline, this story, originally published by www.ft.lk has not been edited by SLM staff)

BIZ

2 companies from Russia & India to take over MRIA management

Published

4 days ago

April 26, 2024

editor

Accordingly, the Cabinet approval has been granted to hand over the management of MRIA to Shaurya Aeronautics Pvt. Ltd of India and Airports of Regions Management Company of Russia or an affiliated company thereof for a period of 30 years.

Earlier during a Cabinet meeting held on Jan. 09, 2023, approval was granted to invite EOIs from interested parties for utilizing the facilities of the MRIA.

EOIs have been called, for which 05 institutions have submitted offers for the purpose.