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| Sunday, 5 October 2003 |
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Business |  |
| News Business Features Editorial
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Growth of supermarkets spurs new products by Hiran H. Senewiratne Sri Lanka's retail market is growing rapidly with the coming up of supermarkets compared to other countries in the region, said Eddie Lim, International Marketing Manager (Asia Region) Sime Darby Edible Products Ltd (SDEPL). SDEPL, a Singapore-based Malaysian company, is one of the top five edible cooking oil companies in the world. It dominates 30 per cent of the total market share in Asia. Stassen Foods Ltd is the importer and distributer for SDEPL's SunBeam Sunflower cooking oil, which will be launched next week. "With the development of the retail market in Sri Lanka, we thought this country as a better place to do business," Lim said. He said the supermarket culture is growing rapidly in the country, therefore it has many opportunities to position the brand among local consumers. Lim, based in Singapore, was here on a short official visit and was impressed with the local market conditions. He said that Sri Lanka has a good business environment. He said with the development of the local retail market, SDEPL products will give a better choice for local customers. With these developments, SDEPL is looking at the possibility of setting up an edible oil packing plant in the country. The idea behind the move is to re-export SDEPL products to the Indian subcontinent, he hinted. "If peace prevails and the Government provides the basic infrastructure facilities, we have big plans lined up for Sri Lanka," he said. Lim said with these positive signs, Sri Lanka can be a trading hub in the region. SDEPL's products are manufactured in Singapore, Lim added. Stringent hygienic controls are exercised through the manufacturing process, while international and contractual specifications are met, he said. SunBeam cooking oil will be available at all leading supermarkets. |
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