Sri Lanka’s Macktiles announces Indonesian debut export
The Morning: Macktiles Lanka (Private) Limited has achieved its debut in the Indonesian market, the company announced issuing a release.
“For decades, Sri Lanka has relied on imports from Indonesia for its tile requirements. Today, we are immensely proud to announce that Macktiles Lanka has successfully exported Sri Lankan tiles to Indonesia for the first time,” stated Macksons Holdings Managing Director Mizver Makeen. Macksons Holdings is the parent company of Macktiles Lanka.
In 2023, the company invested Rs. 12 billion in expanding its operations, culminating in the establishment of a cutting-edge tile manufacturing plant in Bandaragama. This facility has augmented the company’s production capacity, enabling Macktiles to manufacture 44,000 square metres of tiles per day, translating to a staggering 15 million square metres annually.
“I believe Sri Lanka can do better in this global arena, and we, as a company, are so proud of achieving that milestone exporting to a destination like Indonesia. Our dedicated team at Macktiles has worked tirelessly to provide the best quality tiles to the market, and this achievement is a testament to their unwavering commitment,” Makeen noted.
The expansion not only ensures self-sufficiency in Sri Lanka’s tile manufacturing industry but also positions Macktiles to penetrate international markets. With exports to countries such as Maldives, Dubai, and Kenya, Macktiles has been a vital contributor to Sri Lanka’s economic recovery, bolstering foreign currency earnings and fostering economic resilience.
OSL take:
Sri Lanka’s private sector had shown a steady growth and recorded profits in the past few years despite facing many challenging economic conditions. Many private sector businesses in Sri Lanka have also taken steps to expand operations locally and internationally. Macktiles’ expansion to Indonesia is a similar movement. Sri Lanka’s strategic positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed with other countries have also helped the country’s economic resilience and private sector expansion. All these indicate the overall resilience and growth of Sri Lanka’s economy as well as the increasing business potential with the ongoing economic activities. Sri Lanka’s target of becoming an emerging business destination in the South Asian region has also supported the country’s bounce back from the economic crisis faced by Sri Lanka in the past few years. Given the positive growth in Sri Lanka, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the country’s key economic sectors. Foreign businesses could also explore the possibilities of forming partnerships or joint ventures with local businesses on the expansion path to look at further expansion.
| Article Code : | VBS/AT/20240219/Z_1 |