Daily Mirror (Sri Lanka)
Lanka IOC retains MTI for second phase of ASEAN entry
Lanka IOC, having successfully completed the market mapping of Indonesia and Myanmar for lubricants with MTI Consulting, has now reappointed MTI to execute the second phase of in-country distribution operations.
Speaking to media, Lanka IOC Managing Director Subodh Dakwale said, “The MTI study has given us the market map and pulse of the lubricant market in these two key emerging markets of Indonesia and Myanmar. We are excited by the prospects offered by these two markets and the ability for Lanka IOC to service them.
We now rely on MTI’s regional expertise in setting up our channel network. As these markets will be serviced from Sri Lanka, it is expected to bring in foreign exchange into Sri Lanka.”
MTI Consulting has worked on assignments across emerging markets in Asian, the Middle East and African regions, which includes projects carried for multinational and regional companies in Algeria, Bangladesh, Cambodia, Egypt, Indonesia, Jordon, Iran, Iraq, Lebanon, Myanmar, Nigeria, Pakistan, the Philippines and Syria.
Lanka IOC PLC is a public listed company in the Colombo Stock Exchange with a turnover of Rs.75 billion for the year 2011-12.