CEYLON BUSINESS NEWS
NDB Capital and CFA Society to Enhance Financial Services Industry
NDB Capital Holdings Limited has renewed its collaboration with the CFA Society Sri Lanka as a Silver Partner for the second year running. This move aims to uplift the financial services industry and enhance its reach. During the partnership renewal ceremony, Senaka Kakiriwaragodage, CFA, Director/Chief Executive Officer of NDB Capital Holdings Limited, handed over the sponsorship cheque to CFA Society Sri Lanka President Aruna Perera, CFA.
CFA Institute is a globally recognized association for capital market professionals with a strong focus on ethics and governance principles. Speaking about the continued partnership with NDB Capital Holdings Limited, Aruna Perera CFA, President of CFA Society Sri Lanka, expressed his Pleasure and stated that collaborating with NDB Capital Holdings Limited will enhance the capital market development activities of both organizations. "We are delighted to continue our collaboration with CFA Society Sri Lanka and are committed to delivering exceptional results. Our focus on driving progressive change in capital market development is unwavering, and we look forward to strengthening our partnership with the CFA Society Sri Lanka. We are confident that our joint efforts will contribute to the growth and development of the Sri Lankan financial services industry." - Senaka Kakiriwaragodage, CFA, Director/Chief Executive Officer of NDB Capital Holdings Limited.
As a leading financial services provider, NDB Capital strongly supports CFA Society Sri Lanka’s mission to promote and develop the financial services industry while serving society. The continued partnership between NDB Capital Holdings Limited and CFA Society Sri Lanka is expected to contribute significantly to the growth and development of the Sri Lankan financial services industry.
From Left to Right: Isuru Somaratne, Senior Vice President of NDB Capital Holdings, Senaka Kakiriwaragodage, CFA, Director/Chief Executive Officer of NDB Capital Holdings Limited, Aruna Perera CFA, President of CFA Society Sri Lanka, and Aruna Alwis, CEO of CFA Society Sri Lanka.
UNIDO, EDB programme on German Sustainable Supply Chain Due Diligence Act
United Nations Industrial Development Organization (UNIDO) and the Delegation of German Industry and Commerce (AHK Sri Lanka) together with the Sri Lanka Export Development Board (EDB) organized an awareness program for Sri Lankan exporters in preparation for the forthcoming German Act on Corporate Due Diligence in Supply Chains that came into force in Germany from 1st January 2023. The initiative aimed to increase awareness regarding the new law in Germany, and outline the challenges and opportunities for Sri Lankan Export Industries.
More than 75 guests including exporters, Sri Lankan agencies, professional associations and relevant stakeholders attended this event which was organized on the 25th of April 2023 at the Mövenpick Hotel. The German Supply Chain Act (titled Act on Corporate Due Diligence Obligations in Supply Chains) is an effort on the part of the German Federal Government to work with enterprises towards improving the human rights situation around the world and giving globalisation a social dimension while taking the 2030 Agenda for Sustainable Development into account. The act obliges all companies operating in Germany in 2023 with 3,000 or more employees to implement a supplier risk management system. In 2024, the act will apply to companies operating with 1,000 or more employees. The risk management system will help assess, mitigate, and monitor human rights and environmental risks in the company’s supply chain. Sri Lankan exporters to Germany will need to comply with the requirements requested by the importers in Germany to assure supply chain due diligence, through traceability, site-level audits and company reporting mechanisms.
Ms. Marie Antonia von Schönburg, Chief Delegate of AHK Sri Lanka stated: “The implications of the German Supply Chain Due Diligence Act is to ensure free and fair trade. This includes transparent value chains, sensible trade agreements that enable lasting good economic relations, and the observance of fundamental human rights and international conventions in commerce. In short, it is to guarantee economic standards across value chains when doing business with Germany.”
The European Union (EU) is preparing similar legislation, that goes even further than the German Act. For example, while indirect suppliers will not be affected by the German Supply Chain Due Diligence Act, the European Supply Chain Act will monitor the entire value chain. Considering that the EU is Sri Lanka's second-largest export region, and Germany is the fourth-largest export destination for Sri Lankan exports, it is pivotal for Sri Lankan companies to be prepared to adhere to the conditions imposed by the German and the upcoming EU Supply Chain Act.
H.E. Hoger Seubert, German Ambassador to Sri Lanka & Maldives conveyed “The German Sustainable Supply Chain Due Diligence Act is yet another example to showcase Germany’s commitment towards social and environmental standards. These guidelines have been implemented to make supply chains more transparent, boost human rights and protect the end consumer. I believe this will be a great opportunity for Sri Lankan exporters to stand out from their competitors by demonstrating their integrity and resilience”.
Dr. Jairo Andres Villamil- Diaz said UNIDO with the financial support of the EU has carried out several projects in Sri Lanka and presently implementing another EU-funded project titled BESPA FOOD ‘ “Mainstreaming Standards-based best practices for Agri-Food Sector Development” that aims to contribute to a more productive, sustainable, diversified, climate-resilient, market-oriented and inclusive agriculture production in Sri Lanka. A producer-driven communication campaign is targeted and implemented under BESPA food activities to strengthen awareness of commercial and public health benefits of compliance with technical regulations, voluntary standards, and market requirements for greater access to high-value markets. In this regard, UNIDO identified the Corporate Due Diligence in Supply Chains (Supply Chain Due Diligence Act) published in the German Federal Law Gazette dated July 22, 2021, entered into force by January 1, 2023, as an opportunity hence joined hands with AHK Sri Lanka and EDB in providing guidance on the Supply Chain Due Diligence Act for entrepreneurs and businesses.
The following dignitaries were present at the successfully concluded awareness program, H.E. Holger Seubert - German Ambassador to Sri Lanka and Maldives, Dr. Kingsley Bernard, Chairman & Chief Executive – EDB, Dr. Jairo Andrés Villamil Díaz – International Senior Specialist, UNIDO, BESPA-Food, Ms. Marie Antonia von Schönburg, Chief Delegate of Delegation of German Industry and Commerce (AHK Sri Lanka).
In addition, key personnel from leading exporting companies to Germany representing apparel, coconut products, spices, value-added fruits were also present at the program.
Sri Lanka’s first-ever pointz based gaming app experience with PlayPointz
Avanux (Pvt) Ltd, a leading provider of digital and creative solutions, recently launched PlayPointz, Sri Lanka’s first-ever unique pointz-based gaming app that delivers a seamless and entertaining shopping experience. With its innovative approach to online shopping, PlayPointz is set to revolutionize the e-commerce industry by offering users a fun and engaging way to redeem their favourite products. A play-to-win game designed exclusively in Sri Lanka, the players can earn PlayPointz by answering trivia questions and redeeming products from its Pointz Store.
Since 2018 Avanux has been offering enhanced digital experiences that are human-centered and future-proof. The company aims at creating change through effective marketing, utilizing digital platforms to provide clients with an end-to-end marketing solution with a critical view on brand strategy, marketing strategy, digital strategy and analytics to ensure that clients reach their full potential.
Commenting on this new concept, Chinthaka Nuwan & Supun Tharanga said, “PlayPointz was designed with the aim of providing our users with a next-generation e-commerce app experience. We would like to emphasize on the fact that this app in no way involves cash, credit or debit cards and is 100% secure. It allows players to test their skills among like-minded individuals in a thriving community.
We will continue to expand alongside Avant Media and Avant Studio and form a formidable digital powerhouse that becomes a one-stop destination for all digital services.”
PlayPointz doesn’t just offer the opportunity to win sensational items but players can also make a splash by sharing splendorous events with the PlayPointz community. It embodies technologies for people and their connections with the PlayPointz community to guide them through a whole new e-commerce experience.
To exerience PlayPointz, Sri Lanka’s first-ever unique gaming e-commerce platform, the app can be downloaded from,
Apple Store https://l.playpointz.lk/HWWqGswfmG
Google Play https://l.playpointz.lk/q0qVlZpZyA
or you can visit their web site at https://playpointz.com/
Sri Lanka, a regional hub for enhancing connectivity for the Daraz Group
The Daraz Group recently convened its strategic management meetings in Colombo Sri Lanka. The leadership teams and senior management from the Daraz’s offices in Pakistan, Bangladesh, Nepal, Singapore and Dubai met in Colombo for this forum where the Group strategy and direction for the new financial year was discussed and finalised.
Commenting on the opportunity, Managing Director of Daraz Sri Lanka, Rakhil Fernando opined, “We are honoured and privileged to host our counterparts and colleagues of the Daraz Group from the South Asian region, here in Colombo for a strategy planning workshop and integration conference. The event offered Daraz Sri Lanka and Sri Lanka a chance to showcase its potential as a regional centre for business events and conferences. This positioning can attract high-spending business travellers and foster professional networking, which is good for sector development and ultimately boosts the tourism industry as well. It is also encouraging that the teams across the region and the Daraz Group management are impressed by the talent in Sri Lanka and discussed expanding Daraz Sri Lanka into a central hub for Group interactions across the region.”
As a leading e-commerce platform in South Asia, Daraz recognizes the importance of regional connectivity and is committed to supporting the development of Sri Lanka as a regional hub. As part of this commitment, Daraz will bring together stakeholders from South and Southeast Asia to discuss opportunities for enhancing physical connectivity and promoting trade and investment flows within the region. By bringing together experts and stakeholders from across South and Southeast Asia, Daraz will convene forums and platforms for sharing knowledge, experiences, and best practices, and will help identify opportunities for collaboration and partnership. With its extensive network of sellers and buyers, and its expertise in logistics and supply chain management, Daraz will help promote cross-border trade and investment, and support the growth of small and medium-sized enterprises in Sri Lanka and across the region.
Founded in 2015, Daraz is South Asia’s leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, Nepal and Myanmar. It empowers more than 200,000 active sellers with world-class marketplace technology to reach the fast-growing consumer class in a region of 500 million people. Through Daraz Express and Daraz Pay, it operates the most efficient and digitalised logistics and payments infrastructure in its markets. Daraz’s vision is to be a champion of South Asia serving 50 million consumers and businesses by 2030.
For more information, please visit www.daraz.com
DSI celebrates 25 years of partnership with Jaffna distributor
D. Samson & Sons, a leading distributor of footwear in Sri Lanka, recently organized a special felicitation ceremony to honour Ratnagopal Jeyarasa, their distributor in Jaffna, who has completed 25 years of successful business partnership with the company. Jeyarasa has been a key distributor for DSI in the Northern peninsula and has played a significant role in expanding the company's reach in the region.
The ceremony recognized his unwavering commitment to the business, even amidst long-standing crisis situations and economic
downturns. The event was held on March 25, 2023, at the North Gate Hotel, Jaffna, in the presence of Nandadasa Rajapaksa, Emeritus Chairman of D. Samson & Sons, Thusitha R Rajapaksa, Managing Director of D. Samson & Sons Private Limited, and Mr. Pradeep Samarathunga, General Manager of D. Samson & Sons Private Limited. Also in attendance were Senior Managers , Head office staff of DSS, 20 dealers in Jaffna which . Jeyrasa developed and fostered DSS business, Jeyarasa's family, and the staff. The relationship and trust that Mr. Nandadasa Rajapaksa has maintained with. Jeyarasa have been instrumental in driving the business to achieve higher status while Jeyaras's commitment to maintaining long-standing relationships with key business stakeholders has
enabled the business to reach its full potential in the Jaffna region.
In 1998, DSI was looking for a potential distributor in the northern province to overcome problems related to distribution and find new markets. The new distributor, Ratnagopal Jeyarasa, started competently adorning the feet of people in the northern peninsula with DSI
footwear developing and maintaining 20 dealers and providing invaluable service in distributing DSI footwear to the people of the Northern Province in spite of communication and transportation problems that prevailed at that time. D. Samson Sons wishes. Ratnagopal Jeyarasa continued success in his future endeavors and looks forward to many more years of fruitful business partnership.
Insurance, a protection for Women
. In today’s society women play a key role. Be it family, work place or in the community women are at the forefront of making decisions on various aspects. By nature, women are emotionally involved in their families and their well-being. They would want the best for their families and will look at various avenues to ensure that their families are safe and sound.
Child education, health of the family and even the health of their parents are day to day concerns a woman goes through and not stopping at that she will also be concerned of the safety and a secure future for her family even in her absence. In the current context the need for a secure future is even ore. Therefore, today’s women look at the best available avenues to address her needs to provide for her family and to ensure they have a less stressful life ahead.
Keeping this in mind Insurance companies today have addressed many areas of concern a woman might have in terms of her family and her personal well-being. A range of Insurance products are available in the market to support and empower women in society. Child Education, short and long term investment plans, protection for her family at a time if an unexpected misfortune befalls her, health care, safety of assets and property are some of the products available in the market. Child education is very vital for every parent. It is every parent’s dream to ensure their child has an
uninterrupted education even in their absence. Regardless of who brings the income for the household it is very important to secure one’s child’s education. There may be unforeseen unfortunate incidents that can take place and one needs to be prepared to face such a situation with
minimum obstacles. Today there are Insurance plans in the market that act as an education fund to ensure that a Child’s education is not interrupted even in the event of an untimely demise or a total permanent disability of a parent. Especially for a mother who can be vulnerable in such a situation,
these kind of insurance plans will be a support system and a relief to her. Short term and long term investment plans are another area woman can invest for their future protection. These plans provide the policyholders with financial stability and a sound financial plan for the future in case of a demise or a partial or a permanent disability of the breadwinner of the family. Investing in such plans will ensure financial independence for the policyholders loved once and peace of mind for the policyholder even in her absence. Health care for women is a critical aspect. A woman will have various requirements in terms of
health care for herself and as a mother and a daughter she will want the best healthcare for her family and parents. There are many health Insurance plans offered by Insurance companies to ensure that the policyholder and his or her family is well taken care of during a health crisis.
Planning for retirement is another important element for women. Having a retirement plan is always a good future investment for a stress free and hassle free retirement. It allows the policyholder to enjoy the same lifestyle without compromising what she has currently. Protection for life is very important, but in the current context safety of lives, assets and property is also equally important and it is evident that women are being apprehensive regarding same. The
insurance industry offers a range of products in this regard to benefit all customers and as far as women are concerned specially for single women or mothers it is more beneficial as their responsibility is shared rather completely taken care of which eases the challenges they may come
across in life. They can have their much-needed peace of mind in terms of protection and safety of their loved ones, assets and property.
Iftikar Ahamed – President of the Insurance Association of Sri Lanka, sharing his thoughts said, “Majority of the women in our society are independent and make vital decisions for themselves and their loved ones. As an industry we understand her requirements and we have made many
products available for her and her family to protect them, empower them and enhance their life styles. As IASL we have taken the responsibility of creating awareness on our products and make them understand the benefits of having Insurance to safe guard their family’s today and tomorrow.
We are continuously working towards encouraging women to take that decision of obtaining Insurance for their loved ones through education and sharing of information”, he concluded.
Today Insurance has become a vital need for everyone. It has numerous benefits, especially peace of mind because his or her responsibility is shared with a third person - an Insurance Company. In these uncertain times Insurance is more beneficial for single women and or single mothers who
look out for their families and their own protection and safety. With the high cost of living and unforeseen emergencies it is best to be covered in every possible way and good to have a support ystem in place.
Women through Crisis
SLIM’s Annual Leading Liyo Panel Discussion 2023
The Sri Lanka Institute of Marketing (SLIM) recently hosted the annual 2023 panel discussion in celebration of International Women’s Day at Hilton Colombo Residences, for the fourth consecutive year. This year’s topic for the forum was Women’s Leadership in Crisis, Change and Transformation, and the keynote address was based on Unlocking Women’s Leadership Potential in Crisis, Change and Transformation.
The Leading Liyo initiative has been significantly influenced by the leadership of Professor Maduka Udunuwara, who served as the Project Chair for Sustainability Projects at SLIM for the year 2022/2023. Her prominent role as a female leader has considerably impacted the program.
The moderator for the panel discussion was Dr Dilhan Jayatilleke - Executive Committee Member for SLIM. Panellists for the forum included Sen Prof. Chandrika Wijeyaratne - Vice Chancellor, University of Colombo from 2019 April to 2022, Ms Kimarli Fernando - Former Chairperson of Sri Lanka Tourism, and Ms Rumal Fernando - Head of Customer Service and Logistics, Unilever Sri Lanka Ltd.
As the National Body for Marketing in Sri Lanka, SLIM is committed to encouraging and empowering women to take on leadership roles and drive the country’s economy forward. Through initiatives such as Leading Liyo and the Leadership Development Programme, consisting of seven modules, SLIM provides a platform for women to shatter glass ceilings and elevate their skills and knowledge from managerial to leadership development. The forum also launched Episode 3 of the Leadership Development Programme which is now calling for applications from aspiring women leaders from both the private and public sectors.
Commenting on this year’s panel discussion, the President of SLIM, Mr Nuwan Gamage said, “SLIM’s aim is to bring attention to the importance of creating avenues for women to take on leadership roles and drive Sri Lanka’s economy forward. We are committed to empowering women and promoting workplace gender equality through initiatives such as Leading Liyo our Leadership Development Programme.”
Mr Gayan Perera, VP of Events and Sustainability also commented, “I am proud to lead initiatives that encourage and empower women to break through glass ceilings and take on leadership roles. Our Leadership Development Programme, which comprises seven modules, provides a blueprint for women to develop essential skills and knowledge needed to elevate their managerial skills to leadership development.”
Mr Sanath Senanayake, CEO/ED SLIM said, “Leading Liyo is committed to promoting Gender Equality, as outlined by the United Nations Sustainable Development Goal 5. We offer a comprehensive platform that empowers women by providing access to various fields and opportunities. Our Leadership Development Programme comprises 7 modules that have been thoughtfully designed to enhance the skills and knowledge of aspiring women leaders in both the private and public sectors.”
Further commenting on the forum, Project Chairperson - Sustainability - SLIM, Prof Maduka Udunuwara said, “Encouraging women to have confidence in their abilities and promoting gender balance in the corporate world is crucial for driving progress. At SLIM, we offer the Leading Liyo Leadership Development Programme as a platform for women to develop their skills, voice their thoughts and unlock their potential.”
The SLIM Leading Liyo Panel Discussion was an inspiring event that brought together a group of passionate and energetic women who are eager to make a difference through their leadership. The panellists, representing different industries such as medicine, academia, hospitality, tourism, and FMCG, presented strong evidence to encourage women to have the confidence to voice their thoughts and to understand their potential in bringing change and transformation in any crisis.
CDB opens in Kurunegala
Citizens Development Business Finance PLC (CDB) created a revolutionary chapter in its history when it ceremonially opened its wholly owned state of the art Regional Office in Kurunegala. Founded on its strategic compass of embracing a sustainability
embedded business model that intertwines a digitally driven eco-system reflective of emerging business requirements, the Kurunegala Regional Office now sets the benchmark higher in customer service excellence.
The architect designed purpose-built complex will house a modern training and development facility which, given CDB’s committed focus to creating a winning team through constant upskilling, will be the training hub for all regional branches.
Ergonomics plays a key role in the design of the interiors including maximizing of space, natural light and a calming colour palette which is complemented with large spacious areas housing lush greenery, a definite positive for both customers and Team CDB who live and work in fast paced environment. Adding to its energy saving model built on utilizing alternative energy sources, CDB will be installing a rooftop solar system to the building. Ample parking too has been added as a stress reliever for customers who are welcomed into friendly and open spaces with CDB’s trademark hospitality.
Having envisioned and crafted its visionary pathway to ensure becoming a highly socially impacting environmentally conscious organization, the Kurunegala Regional office embeds the CDB ethos of a tech-based future strategy, leading CDB to become a resource-efficient organization. The Kurunegala Regional Office therefore incorporates a rainwater harvesting
system and an irrigation system that keeps plants watered and cools the complex due to evaporation, maximizes natural lighting and uses green screens to reduce thermal penetration.
As one of the top four NBFIs in Sri Lanka, CDB acknowledges wholeheartedly the responsibility of its corporate stewardship of creating and sustaining a progressive and sustainable business environment. The multi-awardwinning organization has shown
repeatedly in its journey of over 27 years that it remains unwaveringly committed to financial inclusion which will in turn foster a nation that will stand tall as a champion of change. The Kurunegala Regional Office is one more step in the direction of its
Pics by Prabodha de Silva
CAPAZITY: Providing Value to Senior Citizens
Capazity (Pvt) Ltd., Sri Lanka's first and only organisation catering to the varied needs of senior citizens of Sri Lanka was launched on the 14th of March 2023 with the presence of its founders, advisory board members, clients, and media personalities.
Senior citizens are the most deserving community in any country. They have contributed tremendously towards the economy and society. Individuals retire from their careers, not from their lives and they continue to contribute to society in many ways. Whilst this sounds rather straightforward, in reality, the transition can be tough. Capazity is a social enterprise driven by the desire to create impact through a range of services and solutions catered to senior citizens so that their next years in life will be the best.
Capazity, is founded by three like-minded individuals with years of corporate and social enterprise experience. They are Nirmal De Silva - Award Winning Business Leader, Entrepreneur, and board member of several leading companies, Sanjeew Perera - a Technology Expert, Entrepreneur, and Innovation Specialist as well an Ecosystem Enabler and Ramzeena Morseth Lye - Marketing Expert, Entrepreneur, and Skills Trainer. For the founders, the inspiration to initiate Capazity is considered their collective responsibility for society and not a mere choice.
The purpose of the organisation is to empower Sri Lankan senior citizens, both economically and socially. The company aims to address five of the United Nations Sustainable Development Goals; Good Health and Well-being, Access to Quality Education, Decent Work and Economic Growth, Industry, Innovation and Infrastructure, Reduced Inequalities and to bring about social impact in the process.
Capazity leverages technology for data-driven decision-making and utilises some of the most innovative technology to arrive at simple, easy-to-use solutions for senior citizens. Service excellence and continuous improvement are at the core of the operating philosophy. For this reason, Capazity has partnered with local universities and international research entities.
A rapidly ageing population creates a number of challenges. Compared to the other countries in the South Asian and Southeast Asian regions, Sri Lanka’s population is ageing fast. At present 13% of the population are senior citizens (above 60 years of age) and this will increase to 27% in the next 7 years. This is a situation which requires urgent attention. Unfortunately, the national focus is not on this segment. This segment faces several challenges which need to be addressed. For example, improvements in terms of healthcare and psychological well-being need to be made. The rising cost of living has also had a significant impact on the savings and income of senior citizens who are now unable to afford the lifestyle which they worked for their entire lives.
With these in mind, Capazity will initially offer three sets of solutions that will aid senior citizens and improve their quality of life. Capazity Impact - a range of services and solutions to individuals as well as companies, which will help senior citizens remain competitive in their careers through education and upskilling. Capazity Benefits – a simple and user-friendly online platform to connect senior citizens with a variety of merchants so that they can avail themselves to special offers, discounts and value-added services. Capazity Care – focuses on providing care for senior citizens. Paid care facilities will be made available through a range of cluster-based locations with world-class independent and assisted living services to senior citizens in a welcoming, vibrant and future-driven environment keeping social engagement and an active lifestyle in mind. The initiative has already attracted the initial round of investment through an Australian-based investor and the team hopes to achieve success through a mindset change and collaboration with other like-minded individuals and organisations so that the journey and the transition of senior citizens will be an interesting one.
A brand-new range of locally produced snacks from C. W. Mackie PLC
C. W. Mackie, a well-known conglomerate in Sri Lanka, recently launched a brand new range of locally produced snacks that includes Cassava Chips, Fried Dhal, Buddy Peanuts, and Mixtures under its widely popular food and beverage brand, SCAN.
C.W. Mackie is a multi-cluster, multi-channel organization with a strong presence in its brands every level in the market. SCAN Jumbo Peanut is one of the flagship brands of the SCAN Products Division of C.W. Mackie PLC group. In 2018, upon identifying the opportunity to not only provide high-quality, locally-grown peanuts but also promote community engagement and sustainable farming practices, C.W. Mackie PLC decided to promote peanuts cultivation locally and process same in a brand new factory with cutting-edge technology located in Horana, in an attempt to build a sustainable agriculture and food system in the country.
Today, in its specific product category, SCAN Jumbo Peanut is the category leader with an impressive market share of over 70 percent. The SCAN Jumbo peanuts are selected based on their size, processed with great care, and packaged under the trusted SCAN label in hygienic
conditions. It is a proprietary brand that is highly popular among consumers of all ages that has gained a reputation for providing quality peanuts, which has contributed to its success and popularity in the market. Its commitment to quality and hygiene standards has helped to
maintain its dominant position in the market.
Building upon the success of the consumer movement that gives prominence to locally produced items, demand has grown tremendously in recent months and with good reason, C.W. Mackie PLC has now extended its locally produced snacks portfolio to Cassava Chips,
Fried Dhal, Buddy Peanuts and Mixture Bites, an impressive range of fast food at affordable prices.SCAN products testing laboratories are equipped with state-of-the-art equipment and staffed with skilled and experienced personnel; comparative tests are perfomed on products in accordance with local and international regulatory standards. The popularity of the SCAN brand is a testament to the trust that consumers have in its products. Its success can be attributed to its focus on quality, careful processing, and strict adherence to hygiene
standards. While constantly improving and expanding its product portfolio, the company strives to provide the local consumer with high-quality products that meet their needs and preferences.
Over 1.2 million orders were influenced by Daraz Live campaigns and streams in 2022
Daraz Group, South Asia’s leading e-commerce platform, released the inaugural report on Daraz Live selling in South Asia. The report indicated that live commerce, a combination of live streaming and sales is one of the fastest-growing platforms for raising awareness for brands and sellers alike. The report looks at Daraz Live’s performance over twelve months across Pakistan, Bangladesh, Sri Lanka and Nepal with over 3000 brands and sellers. Over 2600 consumers were also interviewed across the four markets.
The report revealed that Daraz Live selling saw a 900 per cent increase in orders in the last six months of 2022, cementing itself as a strong selling proponent for marketing campaigns. Live selling has worked particularly well for categories where consumers were either able to make quick, low-cost, impulse purchases or situations where consumers want to learn more about certain products before purchasing. In addition, categories like fashion, lifestyle, electronics and fast-moving consumer goods benefit the most from live streaming. 60 per cent of the consumers surveyed stated that they use Daraz Live to learn more about a product and potentially get additional discounts before making a purchase.
Besides Daraz Live streaming, Daraz also launched the Daraz influencers model that allows brands to tap into a list of influencers who are trained to live stream professionally in Pakistan, Bangladesh and Sri Lanka. Trained influencers have their own engaged following, which helps brands to increase their reach and visibility. Professional live stream influencers also bring a level of authenticity and credibility to brands that are difficult to achieve through traditional advertising methods. 71 per cent of the orders generated directly from live streams happened during the live stream itself due to the influencer/presenter’s persuasive skills, time-sensitive discounts and deals, as well as real-time two-way interaction. Since the launch of influencers, 45 per cent of the total rders can be attributed to them.
“Live commerce at Daraz Pakistan has been a great experience in terms of building engagement across platforms and creating the right kind of conversions by implementing tactics like gamification, product reviews and unboxing. This, powered by commissions, keep the momentum going,” said Zoheb Asif, Daraz Live Pakistan influencer and actor.
According to McKinsey
1 , live commerce has evolved rapidly in China, taking less than five years to develop into an innovative sales channel. Following China’s lead, Western brands, retailers and marketplaces are establishing their own live-commerce ventures and events to promote their
products, especially in beauty and fashion. Closer to South Asia, according to a report by Boston Consulting Group and TikTok
2 , live commerce or shoppertainment could uncover USD 1 trillion in market value for brands in Asia Pacific by 2025.
As the leading e-commerce player in South Asia, Daraz is confident that live selling will scale in the next few years as internet penetration continues to grow in Pakistan, Bangladesh, Sri Lanka and Nepal. 3 In addition, barriers to entry are lower for businesses signing up for Daraz Live since it is a free-for-use solution that increases the visibility of their brand.
Be LED by Delmege
Delmege Forsyth & Co Ltd launched its newest product from its ever-increasing product portfolio in a range of high quality LED bulbs. The acronym LED is derived from Light Emitting Diodes which are known to produce light with an electrical current passing through a microchip. The significance of the LED bulb is the efficiency it displays which is up to 90% or more than the incandescent light bulbs.
Commenting on the utility value of the LED bulb Prashanth Senarath, the COO of Delmege Life Style Cluster Products highlighted that "the LED bulb takes energy efficiency to another level. He said, "a 5W LED bulb is equivalent to a 40W incandescent light bulb". He also went on to clarify that the directional nature of the Bulb makes it ideal for both household and commercial use.
The LED Bulb marketed by Delmege Forsyth is in the "A" shape Form and will be available in a range of 5W, 7W, 9W, 12W and 15 W brightness and comes with a 2-year manufacturer warranty. The bulb is also available in both Warm White and Day light and in both Pin type and screw type increasing its functionality.
Nilantha Fernando the CEO of Delmege Lifestyle commented that "the consumers are very conscious of the ever-increasing electricity tariffs and as such the LED bulb is an ideal method to lower electricity bills". He also commented that the LED bulb has a longer life and is a better and safer light source overall as it is free of toxic chemicals and harmful gasses. The average life span of the LED bulb is estimated at 50,000 hours which is 50 times longer than incandescent lights and 8-10 times longer than CFL. Commenting on this new initiative, Dinusha Bhaskaran the Managing Director of Vallibel One (Holding company of Delmege Ltd) and Managing Director of Delmege Ltd said "1 am very happy to note that the companies of the Delmege conglomerate continue to charter new paths by being inspired by innovation and adding products and services that complement the rest of the diverse portfolio.
The newest product that will be marketed by Delmege Building Products will certainly add value and create a more holistic and meaningful product mix for the consumer. Delmege Forsyth Co is lighting up the nation with an LED bulb which is, cost effective and
ecofriendly has a lower energy consumption, increased efficiency and improved longevity in line with the company's fundamental values of diversity, innovation, creativity, leadership and its people
Pics by Prabodha de Silva
Pics by Prabodha de Silva
Sunquick opens Ready-To-Drink Manufacturing Facility in Horana
Sunquick Lanka (Private) Limited, the local manufacturer of the much loved Sunquick fruit concentrate,Sunquick BIBi ready-to-drink (RTD), officially declared open its Sunquick RTD Manufacturing Facility in Horana on 23rd February,2023, reassuring its strong presence in the Sri Lankan market.
Gracing the special occasion were CO-RO A/s Denmark, President Søren Holm Jensen and Sunquick Lanka Chairman Mr. Hemaka Amarasuriya, which saw the attendance of distinguished invitees from Sunquick Lanka and CO-RO A/s Denmark, the media, and well-wishers. Speaking to the gathering, CO-RO A/S President Søren Holm Jensen stated: "Sunquick Lanka (Private)
Limited enters a new phase of growth with the launch of this RTD Manufacturing Facility. With uncompromised taste and quality, Sunquick has been a lifestyle brand bringing families and friends together, for decades. This is a special occasion that takes us a step further to delivering this promise of giving the best to our consumers."
The RTD tetra pack was introduced to the local market with the purpose of offering consumers a more convenient form of packaging that allows them to enjoy the deliciousness of Sunquick anywhere at any time. The Sunquick BiBi comes in two sizes of 200 ml and 125 ml, in four fruit filled flavours: Orange, Mixed Fruit, Berry Mixed, and Pink Guava and Strawberry. The RTD manufacturing facility in Horana is housed with state-of-the-art machinery that conforms to the strict Scandinavian standards demanded by the product, where quality assurance personnel from the Global QA team ensure that international quality standards are never compromised.
Commenting on the new manufacturing facility launch, Sunquick Lanka (Private) Limited Chairman Hemaka Amarasuriya noted: "The launch of the new SUNQUICK RTD manufacturing facility is indeed a milestone achievement that resulted from the hard work and passion of our team. Utilizing the latest technology and complying to strict global safety and quality standards, the new factory will enhance the capacity and speedy delivery to markets. It's appropriate to announce that Sunquick Lanka (Private) has become an export hub which generates much needed foreign currency to the country as we expands our parameters."
Sunquick Lanka plays an active role in contributing to the national economy by enhancing its manufacturing strength and exporting to other countries. Sunquick is the category leader in the fruit squash segment in Sri Lanka enjoying 70 % of the market share and exporting its products to most of the Asia Pacific region countries including Australia, New Zealand, Papua New Guinea, Fiji, Maldives, Taiwan, and Bangladesh to name a few.
Pics by Prabodha de Silva
Ceylinco General Insurance and SLT-MOBITEL join hands to offer a unique insurance cover
Ceylinco General Insurance and SLT-MOBITEL recently announced the launch of a unique insurance benefit offered to SLT-MOBITEL customers. Under this new insurance cover, Ceylinco SLT-Mobitel Ananthaya, SLT-MOBITEL customers are entitled to a Serious llness
insurance of up to Rs 500,000 and a Personal Accident insurance of up to Rs 1,000,000 for death and total permanent disability due to an accident.
SLT-MOBITEL Fixed and Mobile users are entitled to these benefits and will receive an annual insurance cover equivalent to five times of their monthly bill value. For example, if SLT-MOBITEL customers paya bill of Rs. 5,000/- during the month of January 2023, they will be
entitled to a cover of Rs. 25,000/ When they pay another Rs 6,000/- in February, they will be entitled to a cover of Rs. 30,000/-and accumulated cover by end of February will be Rs 55,000/. Likewise, this cover will accumulate as and when bills are paid. Each cover will be valid for a period of one year. Cover given for each bill will have a policy period of one year and will accumulate until it reaches a cap of Rs 1 Million. A very nominal premium will be charged for each cover such that they do not feel any financial burden to pay the small amount. For example, for a cover of Rs. 25,000/- which will be valid for one year, the premium will be only Rs. 100/-.
Commenting on the Ceylinco SLT-Mobitel Ananthaya scheme, Ajith Gunawarde na,
Chairman of Ceylinco Insurance PLC said, "Ceylinco General Insurance has served the people of our nation with the finest in innovative
insurance products and services, which is an inbuilt component in the company's DNA. Leveraging on this expertise, we have designed this unique product of high value thereby enabling SLT-MOBITEL customers to enjoy the benefits as long as they are covered under the
scheme. Also, this unique scheme addresses a compelling need of the people for affordable health insurance cover for serious illnesses at a premium that is negligible. Considering ever- increasing medical costs, this benefit will undoubtedly ease the financial burden on our people to a great extent. We are more than happy to join hands with SLT-MOBITEL to launch 'Ceylinco
SLT-Mobitel Ananthaya' insurance scheme which will be expanded to other sectors as wel."
Ceylinco General Insurance has already obtained a patent for the 'Ananthaya' product and several corporates in the country have expressed their willingness to get on board with Ceylinco General Insurance as partners. This product process won the Innovation of the year award at he Asia Insurance Awards' held in Singapore.
Commenting on this unique benefit offered to SLT-MOBITEL customers, SLT Group Chairman Rohan Fernando said, "We at SLT-MOBITEL are focused on continually enhancing the lives of our customers by unde rstanding their evolving needs and offering solutions that are
convenient and accessible. To this end, we are pleased to partner Sri Lanka's most popular insurer, Ceylinco General Insurance, to offer our customers a product that is simple yet powerful, which enables them to remain protected against hospitalization due to serious
illnesses with no additional financial stress."
Pics by Prabodha de Silva
‘Hela Osu’ wellness for the modern family
By Shivanthi Medagoda
PRASARA -New Herbal Personal Care Product
Wellness remedies from the 'Hela Osu' era for the current family Hemas introduce the "Prasara" line of Ayurvedic personal care products. Based on an ancient ayurvedic recipe, Prasara comprises a 100% natural 'Hela Osu' extract endemic to Sri Lanka that powers the product range and offers wellness advantages that the modern family seeks. The soap, toothbrush, face cream, face wash, and ayurvedic tonic that make up Prasara's product line are all made from regional herbs and old ayurvedic doctor's recipes that have been handed down from one generation to the next.
Prasara is a comprehensive line of ayurvedic personal care products that has the support of ayurvedic professionals and guarantees consumers the utmost health and well-being. It has been found, consumers today are more health concerned and picky about the products they buy. They also have a lot of faith in ayurvedic medicines and goods that include ayurvedic elements.
In order to meet a variety of consumer needs, Hemas Manufacturing (Pvt) Ltd. has been at the forefront of introducing superior herbal personal care products for local and international customers. “Prasara”, is a new brand that offers a comprehensive line of ayurvedic products for the whole family. It is suitable for the entire family, including kids over 12 years old, and aids in restoring the body's natural equilibrium.
The confidence-boosting purifying face cleanser offers skin that is clearly cleansed, brightens, clear, and rejuvenate. The newly released “Prasara” toothpaste contains herbal components and offers complete dental care protection for tooth decay and brightens your teeth. The ingestible body purification tonic helps restore healthy skin, hair, and nails by nourishing them. It also acts as a natural immune booster. All Prasara products have undergone skin safety testing and are registered with the Ayurveda Department.
The highest health and safety requirements are followed while manufacturing every “Prasara” product. Prasara is a reliable brand that comes with the goodness of ayurvedic herbs to safeguard the entire family because it is a 100% Sri Lankan product of Hemas Holdings PLC. Soon, leading supermarket chains, large grocery stores, upscale stores, pharmacies, and ayurvedic stores will carry the Prasara product line. Hemas Holdings PLC, one of the oldest corporations in Sri Lanka with a 70-year history, includes Hemas Manufacturing (Pvt.) Ltd.
Pics by Prabodha de Silva
PATH TO SUCCESS - VISIT THE EDEX EXPO, 2023!
If you're after A/L's and wondering what to do next or if you are considering to upgrade your qualifications and looking for a job (at whatever age or stage in your career), or planning to elevate your career to the next level; to know all the choices, options and opportunities you have at your disposal, you must visit the EDEX Expo 2023, happening from the 24th-26th of February at the Sri
Lanka Exhibition and Convention Centre (SLECC), in Colombo and the 4th & 5th of March at the Kandy City Centre (KCC), in Kandy.
EDEX is Sri Lanka's pioneering, largest and the leading Higher Education Expo and Job Fair, renowned for the variety of choices and opportunities (in both quality and quantity) offered through leading higher education institutes in Sri Lanka and a number of prominent overseas universities. EDEX has been fulfilling their brand promise of "Empowering the Sri Lankan Youth to be Globally Competitive" for almost two decades and celebrating their 19th edition in 2023.
"With the introduction of its innovative and digitized online educational exhibition, EDEX marked its presence in March of 22 with a Hybrid Expo, for the first time in Sri Lanka, providinga digital event experience to the local youth, amidst the Covid pandemic and fuel crisis. EDEX, being committed to its vision, has been continuously investing time, funds and effort towards taking the educational exhibition sector to the next level", stated Mr. Mahinda Galagedera, Chairman of EDEX Held at the Sri Lanka Exhibition and Convention Centre (SLECC) this year, the EDEX Expo will once again have a vast array of higher educational institutes, both local and international, which includes representation from Australia, Japan, France, Dubai, Pakistan and india. There will be over a 1,000
scholarships and other benefits offered to all potential candidates, exclusively at the EDEX Expo 2023 The EDEX Expo 2023 will also include the Job Fair, with representatives from many of Sri Lanka's leading corporates, offering on-site interviews and immediate recruitment opportunities. The EDEX Careers will offer Psychometric Testing facilities (conducted by industry experts), for both students and job seekers of all ages, helping them determine the best career paths suited for them, as well as many Career Seminars conducted by leading professionals and subject experts throughout the Expo, covering key trending topics in demand, in view of aligning the aspirations of local youth to cope up with challenging crisis situations.
The EDEX Entrepreneurship unit will be launching the "Entrepreneurs Club" parallel to the EDEX Expo 2023, with the vision of bridging a critical gap in Sri Lankan society, by bringing together budding entrepreneurs from all across the country. ldentifying the vital requirement of entrepreneurial skills to fight the ongoing economic challenges, Edex has organized a series of
sessions conducted by prominent and experienced entrepreneurs of the country, to collaboratively guide and shape the business propositions of young entrepreneurs towards success.
There will be many other unique and exciting features, which includes a Gaming Zone as well as the Nanapahana stall, where you can donate books to be given to needy students in rural schools all over the island. You can also witness the Sustainability Quiz competition organized by EDEX- Think Green and handing over certificates to the winning entries of the EDEX Sithuwam Art Competition, at the EDEX Expo 2023. Therefore, whatever it is you may be looking for; Higher Education, Job Opportunities, a Career Path, advice and guidance on Entrepreneurship, dönate books, enjoy a gaming session or even a mix of all
of these, itť's all happening at the EDEX Expo 2023!
Sri Lanka Twins Organization - Global Twins Festival 2023
By Shivanthi Medagoda
Over 4000 participants to arrive Sri Lanka for the Pageant
For the festival this year, the SL Twins organization anticipates that more than 4,000 twin and non-twin travellers would arrive on the island nation.
This will be a fantastic opportunity for sponsors and businesses to work together to increase the the success of this event and raise brand recognition in light of the ongoing economic crisis in Sri Lanka. Given that this is a global event and that many people from around the world are
expected to attend, this will be a fantastic opportunity for both the tourism and economic sectors.
The Global Twins Festival includes:-
*Global Twins Cultural Festival
*Global Twins Pageant and Global Most Handsome Twins
*Global Twins and Multiples Birth Forum
*Global Twins Business Forum
Global Twins Pageant and Global Most Handsome Twins event is held for 1st time in Sri Lanka. It's a fantastic chance for candidates to participate, experience everything the festival has to offer, and take in Sri Lanka's natural beauty, diverse cuisine, and rich culture. The preliminary rounds began on the 12th of February 2023, and the final selection round for the Top 3 twin couples from Sri Lanka for the Global Twins Pageant and the Global Most Handsome Twins will be place for the first time in Sri Lanka on the 28th of May 2023.
Global Twins Day Festival: From July 24th to 31st, 2023
Attendees: 4000 twin and non-twin participants Foreign delegates
Global Twins Pageant ( July 26th, 2023)
Venue : Nelum Pokuna Theater, Colombo 7
Theme : Green Global for Pure Breath
Time :5:00 PM
Objectives : To gain global recognition for Sri Lanka for initiating this concept as
the world’s first attempt at the Official World Records.
Global Twins and Multiple Birth Forum (July 27th, 2023)
Venue : The historic city of Kandy
Time :9:00 AM
Objectives : Finding the right solutions for educational, economic, social, sports
and health-related problems twins and multiples face routinely across the globe.
Global Twins Business Forum (July 28th, 2023)
Venue : The historic city of Kandy
Time : From 2:00 PM to 5:00 PM
Objectives : Building vital import and export relationships between participating/
visiting countries to help make Sri Lanka an international hub for economic relations and
facilitating a multitude of sectors to gain world recognition.
Island-wide Tour of Scenic Places (July 28th- 29th, 2023)
Objectives : Further promoting tourism by showcasing the Island’s most beautiful
sights and sceneries as well as our greatest inventions including Hela treatments and one of the
world’s most alluring mixes of culture and traditions.
Global Twins Music Festival (July 30th, 2023)
Venue : Colombo
Objective : Showcase talents and entertain the tourists present. Media
personnel from their respective countries like Asia, Europe and Africa are expected to attend
Hatch Is Giving Entrepreneurs the Opportunity to Pitch Their Startup to Tim Draper, Silicon Valley Investor, in Sri Lanka.
Hatch in collaboration with Draper Startup House is bringing the global TV Show “Meet the Drapers” to Sri Lanka. If you are working on the next big idea in Tech don’t miss this opportunity! Email your pitch decks to firstname.lastname@example.org by January 18th 2023
This is a chance for local entrepreneurs to not only showcase their startup in front of millions of viewers worldwide, but also the once-in-a-lifetime opportunity to pitch their business to Silicon Valley investor, Tim Draper and stand the chance to win USD 1 million in investment.
Earlier last year, Vikram Bharati founder of Draper Startup House met with Jeevan Gnanam and Brindha Selvadurai-Gnanam, creators of Hatch, following which he expressed his confidence in Sri Lanka’s tremendous potential to transform itself from a troubled nation to a true start-up nation, commenting that the country’s growing entrepreneurship ecosystem presents the greatest opportunity in overcoming its hardships.
Hatch is on a mission to make innovation and entrepreneurship more accessible, sustainable, and inclusive to reflect the diversity seen in the world. Driven by the belief that entrepreneurs are the catalyst for economic development, collaboration drives innovation and everyone, regardless of background should be given the opportunity to create a meaningful impact in the world; Hatch supports early-stage Start-ups by providing them with access to capital, training tools, mentoring, market access, 60,000 sq ft. of award-winning co-working space, and an entire support system through its blended model of community creation, incubators, accelerators and
a fund. Starting with just 28 start-ups, in four years, Hatch has supported over 500 start-ups. Of these, they have incubated and accelerated 37% of them through programs and 33% of the founders are women-led or focused businesses. Even in uncertain times, Hatch offers hope for budding Sri Lankan Entrepreneurs to not just excel within the country but internationally as well.
PERFORMANCE OF TEA INDUSTRY IN 2022 UP TO NOV AND PROSPECTS FOR END OF 2022
Year 2022 began with a lot of optimism. Monthly auction average prices continuously increased and more sharply from April. However, as anticipated, the crop shortfall was inevitable due to the fertilizer crisis. As the year progressed, the Sri Lankan tea industry faced numerous challenges.
Subsequent to the banning of Chemical fertilizer by the Government of Sri Lanka in 2021, tea growers and large plantations, in particular, were forced to only use organic fertilizer which too was not adequately available resulting in a negative impact on the Tea production. A drop of 17% compared to the previous year has been recorded up to end November 2022. The forecast for 2022 with just one month remaining will be approximately 252 million kilos which would be one of the lowest.
With the Government’s decision to allow a more generous policy on fertilizer, all expectations are that the country’s tea production in 2023 would improve to at least 290 million kilos. It is believed that the initiative re-launched jointly by the Sri Lanka Tea Board and Tea Small Holdings Development Authority’s titled B 60 or “Sahakampanaya” in September this year would contribute favourably towards achieving a higher crop. The objective of this program is to increase the intake of better green leaf which will also help growers and plantations to return to 4 plucking rounds per month from the present 2 rounds. The drawback however is the shortage of tea pickers which area will have to be addressed soon. Expectation of an increase in production next year is however subject to the weather conditions remaining conducive for growth throughout the year 2023. Ageing tea bushes and low productivity levels could also act as a downside.
Made tea production for the year up to end November was 231.87 million Kgs. This is significantly lower compared to 278.96 million Kgs recorded for the same period in 2021. It is also lower than 250.19 million Kgs produced during the corresponding period in 2020. Out of the total production for 2022, the Smallholder sector output was 174.71million kgs (75%) while the RPC sector accounted fo 75.8 million kgs (33 %). Both sectors recorded decreased outputs with the greatest decline of 20 % being registered from the RPC sector. The production shortfall in the small holding sector was 16%.
During the period under review, a total of 5.57 mn/Kgs of tea was imported which account for 2.4% of the production and export volumes. It represented only the specialty tea category, green tea and CTC tea as per the 1981 gazette notification for tea importing policies and regulations.
Figure 1: Tea Production Trend (2019 - 2022 up to November)
2019 Vs 2020
2020 Vs 2021
2021 Vs 2022
Owing to the marked decline of supply caused by production shortfall, coupled with the sharp depreciation of the Sri Lankan rupee against the US dollar, tea Auction prices registered a steep increase, moving up to an average of USD 3.80 per Kg by end November 2022 from USD 3.10 per kg at the beginning of the year.
During the year 2022 (up to November), a total of 231 million Kgs was exported. This was 12% lower than the 262 million Kgs exported during the same period of last year. The export earnings in real value decreased by USD 168 million from USD 1.21 Billion (USD 1,214 Million) recorded in 2021 to USD 1.05 Billion (USD 1,046 million) up to November in 2022. Lower earnings were attributed to low production in the year under review.
Market diversification on account of initiatives by the stakeholders in both the public and private sector contributed to opening up of more export markets. Amongst the markets on the review period, Iraq was the leading export destination for Ceylon tea having imported 41 million Kgs, and accounting for 18% of the total export volume. Other key export destinations for Ceylon tea were Russia (22.96 million Kgs), UAE (20.31 million Kgs), Turkey (13.52 million Kgs), Iran (11.96 million Kgs), Azerbaijan (11.27 million Kgs), Libya (10.79 million kgs), China (10.48 million Kgs), Chile (6.22 million Kgs) and Germany (6.17 million Kgs).
Going by the above trends, the Chairman SLTB expects the export volume for the year 2022 to be 250mn/kg and total tea export revenue to touch USD 1.2 billion for the year.
CEYLON TEA BREWS AGAINST ALL ODDS
The Sri Lanka Tea Board (SLTB) as the apex regulatory and administrative body for the industry, organised a Media Conference recently to discuss the industry's performance, resilience, and future agenda.
Celebrated as among the finest teas for its unique flavour, fragrance and freshness, the Ceylon Tea aroma, in existence for over 155 years, and though amidst severe challenges, continues to capture the world, brewing positively.
During its golden days, tea production reached an all-time high with a record of 340 million Kgs in 2013. After short increases during the period 2017 to 2019, tea production recorded a decrease in year 2020, mainly due to the fallout from the pandemic. With all stakeholders within the industry growers, manufacturers, producers, brokers, and exporters facing obstacles, output has continued to dip. However, the industry's contribution to national output cannot be underestimated, and its resilience and revival are crucial for the country's economic, social, and political stability, to shore up external finances and for the country's economic development
Due to the depreciation of the rupee against the dollar, during the first half of the year, and a shortage of tea, sales caught up, and Auction Prices increased sharply since March 2022 Despite fuel shortages and logistic issues, the Regional Plantation Companies and smallholders have been able to continue the harvesting of green leaf throughout the year. When compared to 2020 and 2021 volumes, the Green Leaf price to smallholders has increased exponentially from July 2022 onwards. In the low-grown sector, smallholders have been enjoying prices ranging between Rs. 265-300 per Kg compared to Rs. 90 from about 2 to 3 years before
The last few months have shown much-needed respite for the industry. Monthly Auction and FOB prices from August to October have continued to increase while in October the highest FOB price of 5.72 USS/Kg was recorded.
Elaborating on its future direction, Niraj de Mel, Chairman of the Tea Board noted that SLTB 1s forecasting modest growth for 2023 in comparison to the current year. For 2023, the estimated production is 290 million Kgs with export revenues expected to increase to USD 1.4 Bilion. With the SLTB reviewing market conditions and changes proactively, it is seeking innovative avenues to preserve Ceylon Tea's reputation for quality, while benefitting all stakeholders. During ue event, Tea Sector Development Projects with an emphasis on the B-60 Program were elaborate and the Promotional and Marketing Agenda for 2023 was also unveiled.
Pics by Prabodha de Silva
Pics by Prabodha de Silva
Corporate Due Diligence Certification for EDB officials
As requested by EDB, The Delegation of German Industry and Commerce (AHK) in Sri Lanka and the Friedrich Naumann Foundation for Freedom (ENE) co-organized a capacity Duia officials of the Sri Lanka Export Development Board (EDB) in preparation for the forthcoming "German Act on Corporate Due Diligence in Sunny Chains" that will come into force in Geray from 1 January 2023.
The objective of this programme is to make the ex-pat community aware of the new law to be imposed by Germany with effect from January 2023 through EDB, the apex government organization for promoting Sri Lanka's export in overseas markets. 26 EDB officials who successfully completed the capacity building program on Germany's new Act were awarded certificates at a ceremony followed by a press conference organized on 22 November 2022 at the Cinnamon Grand Hotel.
New German Act on Corporate Due Diligence Obligations in Supply Chains
According to the German Act on Corporate Due Diligence Obligations in Supply Chains to be imposed by the German federal government with effect from January 2023, all German companies are obliged to observe human rights and environmental due diligence obligations in their supply chain in an appropriate manner. This is to ensure that companies fulfil their responsibility to protect human rights and environmental protection throughout their whole supply chain.
However, it causes the suppliers from Sri Lanka exporting to Germany to adhere to the requirements to be requested by the importers in Germany as additional policies on human rights and environmental considerations or contractual assurance to comply with implementing risk-based control mechanisms, such as audits, or training sessions on the measures.
In practice, this indicates that Sri Lankan companies should be prepared to disclose relevant information on their own operations with transparency and compliance with human rights and environmental expectations.
Considering the fact that the EU is Sri Lanka's second-largest market and Germany Is the number one market in the EU for Sri Lanka, it is highly important for Sri Lankan companies to be prepared to adhere to the conditions applied with Supply Chain Due Diligence Act to be enforced in 2023 n Germany.
Cloud Chaos is Slowing Asia Pacific’s Potential to Succeed: VMware Study
Research reveals an acute need to evolve multi-cloud strategies from Cloud First to Cloud Smart as the use of Cloud by organizations across Asia Pacific matures
With more control over visibility, costs, security, and the skills needed to support multi-cloud architectures, a strategic approach to cloud could fast-track business growth
A new study by Vanson Bourne and commissioned by VMware, found that while many organizations in Asia Pacific are fully immersed in a multi-cloud environment today, a large percentage lack a strategic approach to multicloud. The survey revealed that 70% of all organizations responding to the study in Asia Pacific are already using multiple public clouds, only 38% say their multi-cloud strategy is fully defined. What’s more challenging is that Asia Pacific organizations surveyed appear to have a disconnect between their applications and cloud strategies. A whopping 90% of respondents from multi-cloud organizations, report that that have apps built to run across multiple clouds, allowing these organizations to increase app dev, DevOps and IT productivity according and get products and services to market faster.
Across the board, Cloud Smart organizations – defined as those with smart business environments to innovate and scale securely, and across multiple environments – are performing better than their peers in the three other groups identified in the report: Trailing, Cloud Beginner and Cloud Intermediate. The research shows that Cloud Smart and Cloud Intermediate organizations are more likely to originate from Asia Pacific than anywhere else in the world.
“The findings are clear – organizations in our region are committed to being Cloud First, but many are fast approaching a plateau in their multi-cloud usage. Instead of adopting a Cloud Smart approach, many organizations are in risk of entering a state of Cloud Chaos, losing visibility and control as more and more of their apps and data are spread across more and more clouds,” said Paul Simos, Vice President and Managing Director, Southeast Asia and Korea, VMware. “Organizations need to make their investments in multi-cloud work harder. It is time to shift gears and transition to a cloud-smart strategy not just to weather what is to come, but to continue getting the scale of productivity and profitability they have been enjoying when they first moved to the Cloud far into the future.”
There are six key areas organizations across Asia Pacific need to consider in the next phase of the journey towards becoming a Cloud Smart organization:
Unlocking revenue and profitability potential: While Asia Pacific organizations surveyed say having a multi-cloud environment is key for business growth, the benefits are a lot stronger and clearer for Cloud Smart organizations. 97% of Cloud Smart organizations across the Asia Pacific region report that their multi-cloud approach has positively impacted their revenue and profitability.
Transforming data into money: Data monetization is growing as a significant source of revenue. For APJ organizations surveyed 30% report data monetization as significant source of revenue versus 22% two years ago. When looking at the segment of Cloud Smart organizations, , 41% report data monetization as a significant source of revenue currently, with 75% anticipating this to be the case by 2027.
Demystifying visibility to control on cloud costs: The lack of visibility and control over multi-cloud operations is directly impacting the bottom lines of businesses. Trailing organizations are more than twice as likely to report a struggle with cloud costs than Cloud Smart organizations (32% to 70%).
Tackling data sovereignty and management: Organizations are increasingly collecting data from customers around the world. In tandem, governments are requiring enterprises to keep the data that’s collected within sovereign borders. Multi-cloud clearly helps organizations address the growing data sovereignty considerations, with 92% of Cloud Smart enterprises saying it’s easy to manage data in whichever nation it resides as compared to 63% of Trailing organizations. Further to this, 89% of Cloud Smart enterprises report it is easy to secure the data in whichever nation it resides compared to 60% of their Trailing counterparts.
Strengthening security and control: With more clouds, comes more potential entry points for bad actors, prompting organizations to cite ‘increased cybersecurity risks’ as the most likely challenge associated with multi-cloud at 42%,
Given the lack of visibility and control over their multi-cloud environment, it is perhaps not surprising that 61% of APJ organizations surveyed say they need to improve their cybersecurity strategy in order to successfully secure apps and data across multiple clouds. In comparison, more than nine in 10 Cloud Smart organizations say little or no improvement is needed in securing their organization’s data (93%), their end-user employee data (93%) and customer data (92%).
Bridging the talent gap: Another obstacle in succeeding with multi-cloud is the talent gap. 46% of Asia Pacific respondents agree their organization does not have the skills inhouse to achieve a multi-cloud approach, and even Cloud Smart organizations are struggling with this issue, with 42% saying the same. Having a clear multi-cloud strategy is crucial, with 91% of Asia Pacific respondents acknowledging it plays an important role when it comes to recruiting and retaining the best talent.
To help organizations in this next phase of the cloud journey, VMware recently unveiled offerings focused on helping customers to better run, scale, and secure enterprise workloads across private and public clouds and at the edge to adopt a Cloud Smart approach to their multi-clouds.
VMware is also launching new assessment toolkits and support to help enterprises take meaningful and tangible steps and progress towards becoming cloud-smart in a multi-cloud operating reality, and help the region fulfil its full economic and innovation potential.
To demonstrate the value of a Cloud Smart approach for organizations across industries and markets, VMware customers and partners have these to share:
“International SOS is in the business of saving lives. We need an equally agile and available IT backbone to support the millions of assistance calls we get each year from the more than 9,000 organizations we support worldwide,’’ said Henk Van Rossum, General Manager, Group Cloud, Infrastructure and Operations, International SOS. “Only a multi-cloud approach can provide that certainty, flexibility and reliability, but we need to be able to manage multiple clouds efficiently and cost-effectively. To be smart in how we deploy technology to support our 13,000 strong medical, security and logistics experts worldwide for the millions more they support in turn, we need to adopt a Cloud Smart approach to have that visibility, security and control over all our apps, data and processes on any cloud. We are glad to be able to do so with VMware and show how to fully leverage multi-cloud to save lives.”
“Data is the lifeblood of business, growth and innovation today. However, it has to be stewarded carefully and responsibly. More than adopting any cloud solution, businesses should deploy the right data to the right cloud to ensure data ownership, trust and control,” said Tanapong Ittisakulchai, Chief Enterprise Business Officer, AIS Business. “Instead of being bogged down by even more complexity with regulations and management needs, we are giving enterprises peace of mind with our soon-to-launch sovereign cloud – one of the first anywhere in Southeast Asia – so they can focus on growing and innovating.”
“Businesses need to innovate to stay competitive and relevant. Forward-thinking business leaders look to adopt a cloud-native architecture, however, many get stuck with complexities of running a multi-cloud business model, as is also reflected in this study,” said Komal Narula, Vice President IT Infrastructure Engineering and Architecture, Genpact. “One of the critical areas the organizations should be considering is strengthening their cloud security by deploying the landing zone, control tower, guardrails, common tech stack across multiple environments to mitigate risk. It is essential for organizations to move away from a traditional perimeter-based security model to a zero-trust model that relies on well architected framework and security policies and a tagging-based approach.”
“With a clear and coherent multi-cloud strategy, Asia can reach its full potential as a world-class innovation hub,” said Andrew Cheng, Managing Director, AsiaPac. “Multi-cloud deployments allow businesses to improve innovation through open-source technologies and scaleup seamlessly by reducing infrastructure costs. We are excited about the opportunities ahead for businesses in the region; and will continue to work with VMware to empower more companies turn ‘Cloud Smart’ by leveraging from the best each cloud provider has to offer.”
To maximize the potential of the gaming-leading Asia market, it is important that you build a cloud-native infrastructure to improve user experiences and agile developing," said Yoo Yeongsoo, IT system Team leader of NCSOFT. "NCSOFT is focusing on building Kubernetes infrastructure for cloud-native applications in partnership with VMware, a leading innovator in enterprise software and app modernization through Cloud Smart approach."
“Moving to the cloud should not be difficult. Through our partnership with VMware, we are combining our local on-the-ground expertise with best-in-class solutions and problem solving to help more businesses of all sizes to do so,” said Na-pajra Umpudh, Chief Executive Officer, Cloud HM. “As the technology providers and experts, it is only our duty to simplify adoption so businesses regardless of their IT background can also join the journey to the cloud and receive the benefits it provides from security, reliability and cost effectiveness through scalability.”
“Adopting a multi-cloud strategy is a central pillar to our bank’s digital transformation by enabling us to build a flexible hybrid cloud platform that would easily integrate with multiple public clouds without compromising on security and management policies,” said Tawan Jithavech, Chief Technology Officer, KASIKORN Business-Technology Group, the technology arm of Thailand’s KBank. “This multi-cloud approach is key to helping us deliver at least 200 digital transformation projects a year, freeing up 50% of our IT resources to focus on innovation and reducing energy usage overall by 10%, allowing us to focus on what matters – growing the business in a much more sustainable and scalable way.”
About the Multi-Cloud Maturity Research Report
From June to August 2022, more than 5,700 C-suite leaders, cloud architects, DevOps and AppDev pros as well as business decision makers from 19 countries participated in the Multi-Cloud Maturity Research by Vanson Bourne commissioned by VMware. This included more than 1,900 from the APJ region. View the complete Executive Summary report for APJ here.
CA Sri Lanka’s Business Level exam in October records 75% pass rate
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) announced that the Business Level I & II exams conducted in October recorded a pass rate of 75%.
A total of 5,186 CA Students who are studying to be Chartered Accountants sat for the Business Level I and II exams held in October 2022 at centres in Colombo, Galle, Kandy, Kurunegala, Ratnapura, Bandarawela, Anuradhapura, Jaffna and Batticaloa. The results of the exams were released in just three weeks.
The Business Level is the first stage of the globally recognised Chartered Accounting programme offered by CA Sri Lanka, and the level comprise of eight subjects which are BL1 Financial Accounting, BL2 Business Mathematics & Statistics, BL3 Business Law, BL4 Business Environment & Economics, BL5 Audit, Business Processes & Digitalisation, BL6 Management Accounting, BL7 Business Taxation and BL8 Digital Business Strategy.
At the Business Level I exam, Chathuni Riviprabha Jayalath won the first in order of merit prize, while Sinethma Silva won the second merit prize and Malki Subodha Wickramasingha won the third merit prize. At the Business Level II exam, Viradha Thisumi Vishodha Abeydeera Gunarathne won the first merit prize, followed by Sulochana Maduwanthi Peiris winning the second merit prize.
Under the Business Level subject prizes, Chathuni Riviprabha Jayalath won the Financial Accounting, as well as Business Mathematics & Statistics subject prizes, and Ashini Minasha Palihakkara Amarasekera won the Business Law subject prize. Yasangee Shakya Wekadapola won the Business Environment and Economics subject prize, while Chamidu Dilshan Palansuriya and Sulochana Maduwanthi Peiris shared the Audit, Business Process & Digitalization subject prize.
The Management Accounting subject prize was jointly won by Thisaru Chamika, Fathima Ifrah Abdul Azeez and Heshani Sansala Sandagomi Kodikara. The Business Taxation subject prize was won by Shalinda Janith Senevirathne and the Digital Business Strategy subject prize was won by Nazeer Umar.
The Business Communication 1 (CS1) and the Business Communication 2 (CS2) exams were also held in October, and over 1,200 CA students sat for both exams. The pass rate recorded at the CS1 exam was 72% while the pass rate for the CS2 exam was 69%. M A F Ashfa was adjudged the prize winner at the CS1 exam, while the prize winner of the CS2 exam was K Eswarakumar. The CA Sri Lanka curriculum comprises of the Business Level, Corporate Level and Strategic Level. A unique feature of the CA Sri Lanka programme is that students who successfully complete each level under the CA curriculum receive a recognised accounting qualification, which guarantees employability locally and overseas.
Students who complete the Business Level exam successfully will qualify as a Certified Business Accountant (CBA), while students who complete the Corporate Level will qualify as a Certified Corporate Accountant (CCA). The Strategic Level is the third and final level of the CA Sri Lanka programme, and students who complete the requirements as per this level will be awarded the benchmark Associate Chartered Accountant (ACA) qualification.
CA Sri Lanka is also the only professional body in the country to offer a dual membership pathway simultaneously with one of the world’s most respected accounting bodies, the Institute of Chartered Accountants in England, and Wales (ICAEW). To obtain dual membership from CA Sri Lanka and ICAEW, CA students must complete 2 out of 5 subjects from the CA Sri Lanka Strategic Level and 3 subjects from the ICAEW Advanced Level.
UK ENIC (formerly UK NARIC), which is the UK National Information Centre for the recognition and evaluation of international qualifications and skills, has also benchmarked the ACA qualification as comparable to a Master’s Degree standard, while the CCA qualification was comparable to a Bachelor’s Degree and the CBA was comparable to a Certificate of Higher Education.
Uncle Albert' to encourage remittances - Seylan Bank
Unique digital collectables (NFT)to be offered in a first-in-Sri Lanka campaign
Seylan Bank, the Bank with a Heart, brought back the enigmatic character, Uncle Albert from its memorable television commercial featuring Western
Union's money transfer service, to encourage increased foreign remittances through official channels First aired over two decades ago, the iconic advertisement features Uncle Albert saving the day by sending Suresh Rs. 50,000 via Western Union to replace a wedding ring that is lost on the wedding day. Ever since then, Uncle Albet, whose true identity remained a mystery, became a truly iconic and homegrown reference for receiving money from abroad Seylan Bank is now bringing back the indelible character as the key motivator for Sri Lankans abroad and in the country, to receive foreign remittances through secure and official channels
such as Western Union. The first-in-Sri Lanka promotional campaign will reward 15 responsible citizens who do so with a host of benefits and prizes including unique Uncle Albert digital collectibles.
Speaking on the initiative, Gamika De Silva, Assistant General Manager of Marketing and Sales at Seylan Bank said, "Increasing foreign remittances into the country is vital to addressing the current need of the hour that Sri Lanka is facing, and as the bank with a heart
we at Seylan Bank felt we needed to do something innovative to encourage increased remittances through official channels and contribute to a national solution. We felt that reviving the unforgettable Uncle Albert can help us to connect with the young and old, and motivate both the sender and the receiver to use official channels for remittances and be part
of solving a national need."
Digital collectables or non-fungible tokens (NFTs) are cryptographic assets on a blockchain that represent real-worid items like artwork or real estate. Each of the Digital Collectible (NF) has a unique identification code and metadata that distinguishes it from another. Tokenizing' real-world tangible assets make buying, selling and trading them more efficient while reducing the probability of fraud Seylan Banks' novel campaign which centres around NFTs will reward 15 winners with a unique Uncle Albert NFT each, while one winner from the 15 will also receive Rs. 100,000. Winners will be selected through a grand draw and anyone who remits the equivalent of USD 500 in any foreign currency through the Bank's Western Union service within 45 days since the campaign launch, will be eligible to enter by sharing a reference number to Seylan Bank s Social media channels. Vinners will also receive access to a host of special services offered by Seylan Bank such as priority hotline, priority service in branches for all banking products
and many more
Pics by Chanaka de Silva
Pics by Prabodha de Silva
Quality, affordability and self-reliance Panel - Bath-ware industry
The Sri Lanka Ceramic & Glass Council (SLCGC), the apex body for consensus building among all parties in the ceramic industry, hosted a panel discussion on the quality, affordability, and self-reliance of the Sri Lankan Bath ware industry. The event was held at the Colombo Hilton on the 19th of October 2022 and was attended by officials representing various Government & Private Organisations, bath-ware manufacturers and a distinguished discussion panel.
The panel included Chief Guest Hon. Dr. Ramesh Pathirana, Minister of Industries, Mrs. J. M. Thilaka Jayasundara, Secretary, Ministry of Industries, Mr. Rohana Wijesekera, Assistant Governor, Central Bank of Sri Lanka, Dr. Saranga Alhapperuma, Chairman, Industrial Development Board, Manawachandra Bopitiya, Managing Director, Lanka Minerals &
Chemicals (Pvt) Ltd., Aravinda Perera, Managing Director, Royal Ceramics Lanka PLC, Dr. Nishantha Nanayakkara and Chairman, RSL Group of Companies.
During the discussion, the SLCGC addressed a major misconception about the local bath ware industry, which is the fact that many Sri Lankans still believe that there are only 1 or 2 manufacturers in the country. However, today, there are more than 8 small, medium, and large-scale producers in the industry, who are capable of supplying to multiple price points and varying levels of quality.
The manufacturers include Royal Ceramics Lanka PLC, RSL Ceramics (Pvt) Ltd., Mulatiayana Ceramics (Pvt) Ltd., Nilwala Ceramics Village (Pvt) Ltd., Otto Bath ware, Hega Tile (Pvt) Ltd. Embilipitya Ceramics (Pvt) Ltd., Novel Ceramics (Pvt) Ltd., and Dilax Chemical (Pvt) Ltd. The event also showcased a live display of products of varying qualities and price ranges, manufactured by some of the aforementioned manufacturers. The panel also discussed the effects of the COVID-19 pandemic and the economic crisis on
the local bath ware industry. In early 2020, Sri Lanka did not have the capacity to fulfil the demand for bath ware in the country. The import restrictions also had a great impact on the industry as well.
However, due to government requests to increase manufacturer capacities, an influx of factories and investments of over Rs.1 billion, was able to expand and rejuvenate the industry. A plethora of new factories and significantly increased capacities helped the industry reach its desired target within a span of 2 years. The SLCGC also established the fact that 80% of the raw materials needed for the industry are locally sourced and extremely high value addition is applied to these local raw materials.
'BIMSTEC' the path to prosperity
By Chanaka de Silva
Challenges facing this region and at present could be listed as Central Banks, Commodities, China, Conflicts, Covid, Crude oil, Climate change, Connectivity, Cost of living, and currency crisis said Prof. A, Saj U. Mendis in his opening remarks at BIMSTEC’s ‘Towards a Peaceful, Prosperous and Sustainable Bay of Bengal Region panel discussions held recently.
Speaking further he said, This region is one of the most geostrategic areas of the globe. With proper integration and corporation BIMSTEC can become the next powerhouse of the world. But the above factors can and will affect this region negatively from time to time. Therefore the BIMSTEC could not only face these challenges together but also work towards the elevation of the region as a whole through their effort Mendis said.
During the panel discussion on ‘Bridging the Gap The way forward’ Ceylon Chamber of Commerce Chief Economist, Shiran Fernando said, Bilateral relations with China and other BIMSTEC countries have helped Sri Lanka. The cooperation among the members can support Sri Lanka at the present time. However, though there are numerous FTAs in force there need to be a lot more facilitation efforts taken in order for these to be effectively utilized. Because if this is done Sri Lanka also can trade with Europe and America. When facilitation is not at its’ optimum level there are a lot of non-tariff barriers that crop up and hinder the trade he said.
Also speaking at the panel Brandix, COO Digital Transformation, Oshada Senanayake said, The population of this region is 1.7 billion people. The GDP is USD 4.4 trillion. This means connectivity is extremely vital to find ourselves moving forward in future. Here Sri Lanka can boast of being among the top 20 countries in terms of affordable connectivity for the fixed broadband. We will soon achieve 100% coverage for interest island-wide. This gives solid backing to any interested investors.
Finally, he added that since now data security is of vital importance especially since data is not stored locally this is another area that has to be carefully looked at. As in the future cyber attacks will have to be expected Sri Lanka has taken the lead in becoming Asia’s first in the creation of our platform in Data protection. To the success of this which will benefit the whole BIMSTEC region, information and intelligence are the vital elements needed to face regional issues he said.
Pix by Prabodha de Silva
Bring down proceeds within a month, reduce credit period - Dr Nandalal Weerasinghe
Text and Pics by Chanaka de Silva
Central Bank Governor Dr. Nandalal Weerasinghe strongly urged to encourage their overseas buyers to remit the proceeds within the present credit period of 6 months, speaking at the 128th Ceylon Tea Traders Association (CTTA) AGM held recently.
Further, the Central Bank Governor stressed the need to do so as the foreign exchange brought in could be used to purchase the more dire basic needs of the country presently. He also suggested shortening of the present 180-day credit period to 30 in this time of need. This stress will greatly facilitate the foreign exchange requirement as now the facility of short-term financing is not available to us. Hence we have to depend heavily on the export earnings he said.
Speaking further he paid tribute to the fact that new technology has been adopted in the industry and stressed the fact that this is the way forward. This is the way to improve both the business and productivity.
The newly appointed Chairman CTTA Sanjaya Herath in his address said the industry must pull together and utilize the large extent of land to use this efficiently and optimize the land use. Crop diversification and complementary business such as tea tourism and animal husbandry are areas that should be looked at he said. Implementing a productivity-based wage system to improve the industry as a whole is our responsibility he said. Further heritage teas to promote tourism is another area that could be gainfully developed as well. As tea smallholders account for 70% of the tea production with their holding of 30% of Lanka their efforts must be lauded in no small measure Hearth said. As the suppliers of 50 % of the world’s orthodox teas maintaining quality are paramount. The quality of the Ceylon Tea alone should be our hallmark of quality he added.
The biggest drawback in the industry is that the stakeholders are working independently. The right communication is not going down to grass root level. At present they were vulnerable with almost 20% crop loss and price being 2 dollars higher than their competitors. Hence prioritising the improvement of communication among all stakeholders including the Sri Lanka Tea is vital Herath said.
Addressing the gathering Sri Lanka Tea, Chairman, Board Niraj De Mel said, Sri Lanka has been the number 1 auction level tea price earner among all the producing countries. The country had earned USD 882 million from tea exports at the end of August for the first 8 months confirming that they bring in not USD 100 million but USD 110 million a month which means they were earning a higher front-end price in dollar terms. Though rubber has earned around USD 693 million and coconut USD 590 million by the end of July he added.
‘INVESTMENT SPOTLIGHT’ to attract US FDI - AmCham 30th AGM
AmCham Sri Lanka recently held its 30th Annual General Meeting (AGM) and election of Directors. Despite the challenges of the socio-economic and political conditions faced by the business community over the past year, significantly curtailing usual Chamber activities, the Chamber recorded its highest net surplus yet, for the third consecutive year.
Addressing the gathering comprising over 100 member companies, Lakshan Madurasinghe, who was re-elected President for his second year, noted: “When I took on the prestigious mantle of the AmCham Sri Lanka Presidency last year, I shared with you my belief in partnerships – in my fervent desire and hope that through meaningful collaboration with you our members, key stakeholders, and partners we could reach our goals and make a lasting impact. I am proud to state that, through conceptualizing and serving activities, engagements, and most importantly B2G, B2B and B2C connections that have supported your businesses despite the multitude of socio-economic and political challenges over these past years, we have done just that.”
Introducing the initiative, AmCham SL General Manager Vrai Raymond stated: “Working together with collaborative partners, the US-Sri Lanka Chamber of Commerce in New York, Sri Lanka @100, and the USAID MSME Development Program – PSD in Colombo, this webpage will provide a platform for pre-screened companies and projects to call EOI and RFPs for credible investment and partnership opportunities for establishment and or expansion in to either Sri Lanka or the US.”
Commenting on this initiative, the Director General of the Board of Investment,. Renuka Weerakoon stated: “Attracting investment, in the current context, is a priority for Sri Lanka as it is the best non-debt source of FOREX inflow. Having recognized that the global FDI trend is also more towards re-investment as opposed to greenfield, the BOI has undertaken various measures to support our enterprises to reinvest and operate relatively smoothly. It is indeed heartening to witness how investors have taken it upon themselves to champion Sri Lanka to the world. I think this gives a very good idea of the sentiments our existing investors have for Sri Lankan in taking our story to their own part of the world. This is why I wish to place on record my sincere appreciation of this initiative – which is a timely intervention – and we look forward to working together with AmCham to attract FDI from the US, which can be leveraged for the economic resurgence of Sri Lanka.”
DIGIS launches for the 4 th Consecutive Year
Entries open from 23rd September to 25th October 2022
Sri Lanka Institute of Marketing (SLIM), the apex body for Sri Lankan Marketers, has opened entries for the 2022 edition of SLIM DIGIS from the 23rd of September until the 25 th of October 2022. SLIM DIGIS celebrates and rewards outstanding work and talent within the digital sphere. This year’s competition, SLIM DIGIS 2.2, features two awards categories; the special awards category and the main awards category, under which multiple awards are poised to recognize the Best Digital Marketing campaigns from a range of categories chosen specifically to reflect the development and growth of Sri Lanka’s digital marketing sector.
Nuwan Gamage, President of SLIM, stated, “During the last 3 years, as a nation, we have aced numerous challenges than we have ever faced in our history. Consumer behaviour changed dramatically, and companies that acted quickly were able to thrive despite the changing economic backdrop. In those agile approaches, we have seen digital marketing play a vital role and I firmly believe that it will continue to play a very prominent role in the
nation's branding national initiative that we are running currently to position Sri Lanka globally to travel, invest and live. I would like to invite all the digital marketers and brand owners to showcase the great digital execution that they have done in this challenging environment.”
Nuwan Thilakawardhana, Assistant Secretary of SLIM and Project Chair for SLIM DIGIS 2.2, shared his comments on the competition. "The strength of our digital campaigns, strategies and the performance of digital campaigns will be tested within this competition. We are in a
challenging time period and Digital Marketing has played a pivotal role in bridging the gap between people and companies. It has helped many brands overcome various challenges and has also contributed to the development of brand equity and organisational profits.
There’s no debate that digital marketing is the future of marketing and we consider it our duty to help Sri Lankan marketers embrace and improve in this sphere via heated but healthy competition. Arosha Perera, Communications Director, IESC Sri Lanka and Head of Jury, also shared his
thoughts on the competition. " SLIM DIGIS is a unique awards program, focused on the cutting edge of marketing. It is incumbent upon us to improve and upgrade the level of competition in keeping with digital marketing evolution and the future trajectory of the industry. This will be an exciting year with new categories and opportunities for experienced, young industry professionals to join the ranks of jurors.”
Gayan Perera, VP Events at SLIM, also commented. " Hosting a significant competition such as this, is important as it allows the industry to identify the role that digital marketing plays in the marketing industry. It was inaugurated with the hope that the competition will become a
major annual event, and over the years it truly has. As the digital sphere continues to evolve, it is imperative that we continue to identify and reward those who truly stand out in the industry. SLIM hosts the SLIM DIGIS Awards to identify the pivotal role played by digital marketing. The demand for and importance of the digital industry has grown exponentially, and SLIM as an industry leader has identified the need to recognise and reward the digital marketing industry for its commitment to improving the nation's digital scope. The awards competition is judged according to international standards and by the industry’s most respected business, marketing and digital marketing professionals. SLIM DIGIS is a means for organisations to showcase their contribution to the digital marketing and advertising sector and has been a resounding success over the years. SLIM DIGIS Entry Kit is available at www.slim.lk.
Pics by Prabodha de Silva
PANEL DISCUSSION ON SRI LANKA’S TURNAROUND STRATEGIES AND THE ROLE OF THE INTERNATIONAL COMMUNITY
Sri Lank must develop a strategic plan acceptable on IMF lines- Dr. Nandalal Weerasinghe
By Chanaka de Silva
At a recently helped strategic forum by the Postgraduate Institute of Management Alumina Keynote speaker Governor of the Central Bank Sri Lanka Dr. Nandalal Weerasinghe said, we have now prepared our turnaround strategies required to bring the country back to even keel. He said.
The IMF has found that our debt is not serviceable. Therefore it is their policy and rule not to lend money to such counties. Since several requests have been made by the IMF for the debts to be restructured none has been carried out as yet. Therefore in order for our request to be processed, we have to bring our debt to a level that it is sustainable level even before the request is considered.
Elaborating further on the steps to be taken to meet the IMF requirements Weerasinghe said, initially a detailed account of the proposed road map with which we hope to achieve these targets and macroeconomic programs that will ensure recovery has to be shown. Only once this report meets with their approval will any assistance be granted. Once this approval is secured we can then present this to our external creditors with the request to have our debts restructured to a manageable level on a long-term basis, he said.
The four-year turnaround facility we have agreed upon with the IMF will entail both several both a number of policy and structural reforms. However receiving the endorsement of the IMF is vital as that alone will create confidence among our creditors and future investors as well, he said. Another vital factor is the physical consolidation of the primary deficit which is at 6.8% of the GDP last year, and this year it is at 4% and in 2025 and onward it has to be brought down to 2.4% of GDP there onward we will be able to maintain a surplus he said. This is how we will be able to demonstrate to them that we are committed to the agreement of having a strong adjustment program. This will be a very painful process as the taxes will have to be raised. With the increase in the essentials, the low-income and fixed-income earners will be badly affected. We have at this time taken measures to protect the vulnerable. If the present inflation of 60% increase to 95% we will end up like Zimbabwe and Argentina where it has gone out of the control of the Central Monetary authority, then it would be disastrous. No businesses will be able to carry out their work if this happens. It will then double the price of goods. At this stage, we lose our foreign exchange reserves and not be in a position to purchase any fuel and other essentials.
This presentation is the first step in the process. This will begin the restructuring process. Our bilateral creditors and others will have to grant us assurances prior to the IMF lending us any money. We are confident that these bilateral creditors will grant us the required financial assurances,Weerasinghe said. This will demonstrate to all concerned parties that this process is done transparently so that all terms offered are known to all, Weerasinghe said.
Finally, Weerasinghe said, the importance of policy changes on matters such as Money laundering and other financial crime will have to be addressed according to the requirement of the IMF. In their request Anti-corruption measures take a prominent place which is among the primarily necessary amendments to be carried out. The anti-corruption law has been discussed in parliament, and accountability and credibility with this in place it could be foreseen that it would encourage enhanced investment he said.
Responding to the night’s topic the panellist Embassy of Japan, Dep. Head of Mission, Katsuki Kitaro said, that Japan always appreciates the fact Sri Lanka spoke up for Japan after WWII helping to get back into the mainstream. As the 2nd largest partner in the IMF, we can play a constructive role in assisting Sri Lanka with the proposal submitted by Sri Lanka for approval. We have been helping the pharmaceutical sector and in other assist the most vulnerable of people in Sri Lanka now.
Further, he said that the two areas that would generate the most foreign exchange is tourism and employment. In this view, they are discussing certain terms with both relevant ministers respectively. As trade and investment at this moment is crucial more trade agreements are needed. We will also be looking at the IMF re-structural agreement where Anti-corruption measures to be taken are taking a prominent place.
Further, he added that if a stable situation is achieved, within the next 15-20 years Sri Lanka can be a regional hub. Because it is close to south East Asia, the Bay of Bengal, India and the east coast of Africa. For several reasons Sri Lanka can be a hub, I believe that in the right direction given by the leadership this can be achieved and Japan will continue to stand strongly next to you Kitaro said. Panellist Deputy Chief of Mission U S Embassy, Douglas E. Sonnek addressing the gathering said, “the US will remain a friend and partner to Sri Lanka. This economic crisis with the right tools, friends and partners will overcome the situation".
The economic recovery is going to need tough decisions timely action and real fortitude. Some decisions won't be popular. The US is committed to playing a positive role. As the largest participant in the private bond market, we are looking forward to working constructively. Comparable and transparent treatment of debt is important in reaching a quick and important solution. As the countries with the independent constitution are the ones that will make the most progress Sonnek said.
As taking care of the vulnerable population is not easy the US shared USD 200 million last year and another USD 40 million is waiting for congressional approval to provide fertilizer to the farmers. However long-term prospects must be built by trade as in 2021 Sri Lanka exported USD 3 billion worth of goods to the US Sonnek concluded.
Finally, Deputy High Commissioner of India, Vinod K Jacob sharing his views said, India totally supports Sri Lanka. The line of credit, the Foreign Exchange snapshot, currency swaps, humanitarian assistance, medical assistance and development partnership. India kept the borders open to the people of Sri Lanka for as long as possible. The support of the Indian people to the people of Sri Lanka gives strength to the political leadership of Sri Lanka to make tough decisions. As we in India know what it is to go to the IMF. India has built around 60,000 houses and we will help in capacity building we have given over 700 scholarships, the tourism sector brings and over 400 training slots for government officers. Finally, Jacob said we will always be with the people of Sri Lanka.
Financial professionals in Sri Lanka set to benefit from ACCA, CA mutual recognition agreement
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and ACCA (the Association of Chartered Certified Accountants) has entered a Mutual Recognition Agreement (MRA) allowing members from one body to apply directly for membership of the other.
The MRA was signed by ACCA’s Chief Executive and CA Sri Lanka’s President at a ceremony on 26 September 2022 at the CA Sri Lanka office in Colombo. The MRA provides a direct route to membership for ACCA and CA Sri Lanka members having more than 5
years of post-membership experience, without any additional examination or practical experience requirements.
ACCA global Chief Executive, Helen Brand OBE, commented: “We’re committed to supporting and building a strong and resilient economy in Sri Lanka and this agreement is an important step in bringing together the people to achieve this.
“The MRA also brings equality of professional standing between ACCA and CA members and that’s a huge step forward in supporting members’ career progression.” CA Sri Lanka members will benefit from the global recognition that comes with being an
ACCA member, and ACCA members will benefit from employer recognition in Sri Lanka, being able to access practicing rights on completion of additional requirements. Sanjaya Bandara, President of CA Sri Lanka, said: "CA Sri Lanka is delighted to sign the
agreement with ACCA to further enhance the standing of our members both on a global and local platform." "In a globalised world, with expectations rising, it is vital that we consistently improve the skills and opportunities of our membership. I am certain the MRA with ACCA will bring renewed opportunities for our members alike."
Dulani Fernando, CEO CA Sri Lanka, said: “CA Sri Lanka and ACCA will continue to work together in areas that benefit both the profession and its mutual members. These areas will include research and publications, public sector development activities, events and CPD.”
The MRA follows a Strategic Partnership Agreement (SPA) signed in December 2020 by the two bodies to strengthen collaboration and is a mutual recognition of the high standard of each other’s qualifications. Nilusha Ranasinghe, Head of South Asia, ACCA, said: “This MRA will bring substantial opportunities for members of both bodies and demonstrates the value of professional bodies collaborating to explore synergies for the benefit of the profession and the wider public good.”
CA Sri Lanka has produced over 7,900 members and currently enjoys a student base of over 27,000 who are aspiring accounting professionals. ACCA has approximately 5,600 members and future members based in Sri Lanka.
Focus on prudent tax policies for economic stability
- CA Sri Lanka’s inaugural tax symposium
With Sri Lanka continuing to face unprecedented challenges due to the ongoing economic crisis, and government revenue expected to play a crucial role in salvaging the economy, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in a new landmark initiative, will host its first-ever inaugural tax symposium where matters pertaining to the ongoing crisis and the way forward will be discussed in-depth.
The CA Tax Symposium, which aims to be an annual event, will be ceremoniously inaugurated on Thursday (01st September 2022) followed by two days of technical sessions on 02nd and 03rd September where matters pertaining to macroeconomics, budget
proposals, tax trends, and the way forward will be deliberated in an effort to help bring stability to the ongoing crisis.
The event will be officially inaugurated in the presence of Mr. D. R. S. Hapuarachchi, Director General of the Inland Revenue, Mr. Sanjaya Bandara, President of CA Sri Lanka, Mr. Heshana Kuruppu, Vice President of CA Sri Lanka, Mr. Tishan Subasinghe, Council
member and Chairman of the Faculty of Taxation, Ms. Sarah Afker, Alternate Chairperson of the Faculty of Taxation and Ms. Dulani Fernando, Chief Executive Office of CA Sri Lanka.
The ultimate aim of the symposium is to provide a common forum for both policymakers and taxpayers to deliberate and make suggestions on how the policy framework in the country should be tailored with the best interests of all the stakeholders taken into consideration.
The first session will focus on "Macro Economics - The Context" where the historical context of Sri Lanka’s current economic position will be briefly outlined, with the ultimate goal being to lay the groundwork for a fruitful discussion on tax policies that will be better suited to fulfilling the government's goals. The second session on "Budget Proposals 2022 -
Implementation" will deliberate on how effectively the budget proposals have been implemented with specific focus on how well these policies have been aligned with the economic objectives of the government.
The third session on "Recent Tax Trends - The Local & the Global View" will pay attention to the recent trends in the local and international tax arenas while providing an overview of the tax trends from a regional and global perspective. The fourth and final session will be on "Chambers Discussion Forum - Way forward 2023 and beyond" where leading business
associations and chambers will come together to share their views and opinions on the tax regime in the country and the changes that they would like to see in the taxation policies in the future, apart from sharing their experience in relation to the practical issues in
dealing with the tax statutes, the Inland Revenue Department and other administrative and procedural challenges.
Pics by Prabodha de Silva
Rooftop Solar is the only way out of the present energy crisis
UP TO 75%, INCREASE IN ELECTRICITY PRICES FOR CONSUMERS
By Chanaka de Silva
Electricity consumers received an "Electric Shock" recently with the increased tariff announced by PUCSL. The increased consumer tariffs have been put up by 75% on certain bands. The Ceylon Electricity Board (CEB), however, had in fact requested a far higher escalation an overall price increase of up to 239% of the current tariff.
Speaking at a recently held pressmeet held by the Solar Industries Association (SIA) Secretary Lakmal Fernando said, with the losses of the CEB amounting to LKR500bn in 2022 and the depreciation of the SLRs, the CEB is almost certain to impose tariff hikes repeatedly unless urgent remedial measures are implemented. From a 100% renewable energy dependant country, running almost entirely on hydroelectricity, Sri Lanka's generation mix had deteriorated to 35% Renewable Energy (RE) - 65% fossil fuel by 2022. The CEB has not made any serious effort to absorb sufficient RE to the national grid, in spite of clear directives from industry regulators over the past decade. Therefore in spite of several warnings by the RE sector, the country's energy mix was ignored. The CEB's approach has been short-sighted and has not established a long-term strategy for the RE sector, even to date.
Further he added that if the local market is encouraged to invest in rooftop Slar systems this will give immediate returns to the country. The other benefit is that grid will not have to carry the total load of supplying the country. With this system the requirement to generate power through fossil fuels will be greatly reduced thus will help stem the drain on the foreign exchange of the country, Fernando said.
Pics by Prabodha de Silva
'TAGS awards 2022' entries open
Marking a new chapter in financial and non-financial reporting, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Wednesday announced that t is accepting applications for TAGS Awards 2022. It aims to crown the best corporates for promoting transparency, accountability, governance and sustainability.
The TAGS Awards, formerly known as the Annual Report Awards, which commands an impeccable history spanning over half a century, in its 57th year, welcomes any organisation that produces an Annual Report, including multinational companies, conglomerates, SMEs, and even small-time comnmunity groups, as well as NGOs and NPOs io apply and get recognised, for upholding the integrity of financial, environmental, social, and governance reporting with a key emphasis on transparency and sustainability Organisations producing annual reports can register for the highiy acclaimed competition by providing their Annual Reports for the Financial Year ending on 31st December 2021 or 31st March 2022. Applications will be accepted from 24th August to 16t September 2022 The announcement was made at a press conference held under the patronage of CA Sri Lanka President Sanjava Bandara, Vice President Heshana Kuruppu, and Chairman of the TAGS Awards Committee. Thivanka Jayasinghe, Chief Executive Officer Dulani Fernando and Alternate Chairperson of the TAGS Awards Committee Chamila Cooray at the Institute MK Sanjaya Bandara, President of CA Sri Lanka, said that change is essential if we are to face today s environment with confidence and the TAGS Awards aim to reflect these changes, which are not onily pertinent in the current volatile business environment but also aim to gear companies both big and small for future challenges.
He noted that while the Annual Report Awards Competition had a particular focus on financial reporting for over half a century, the reconceptualized TAGS Awards will take on a new format with a specific emphasis on both non-financial and financial reporting.
"A key feature of this competition will be how organisations continue to remain transparent and accountable and how businesses, regardless of their size or profits, are making the necessary efforts to give back to society and protect the planet. I am confident that the TAGS Awards will be an important platform for going beyond conventional expectations from businesses
Lenovo Graphic Workstations from Softlogic
Lenovo, Graphic Workstations in Sri Lanka and Bangladesh, announces its collaboration with Softlogic Information Technologies (Pvt) Ltd (Softlogic IT), in introducing the best Lenovo Graphic Workstations. This essentially enables the tech community and graphic designers to adapt to the work-from-home concept which is gaining more popularity for many businesses. Graphic design demands the best out of a computer, so if you are a graphic designer, you probably choose your equipment extremely carefully, which is why Lenovo, an established name across the globe, joined hands with Softlogic IT to provide the best Graphic Workstations for customers.
Lenovo offers two of the best graphic workstations for advanced users who need powerful devices to help support more complex workloads such as data analysis and graphic designing. Its two graphic workstations are the Lenovo ThinkStation P Series Fixed Workstation and the Lenovo ThinkPad P Series Mobile Workstation. The ThinkStation P Series workstations deliver powerful performance to handle whatever jobs you need to accomplish: from the P620 with its game-changing AMD Ryzen™ Threadripper PRO to the latest generation of Intel® Xeon® processors combined with NVIDIA® Quadro® RTX professional graphics, in dual- and single- processor systems. Independent software vendor (ISV) certified, energy-efficient, and highly versatile, Lenovo's ThinkStations feature the superior reliability you expect from Think. The ThinkPad P Series workstation fuses the portability of a laptop and the performance of a workstation, the ThinkPad P Series laptops are ISV-certified for all major applications. These systems feature lightning-fast graphics and processing, and the latest cutting-edge technology to handle your compute-intensive needs in surprisingly light packages.
Commenting on this partnership, Roshan Rassool, CEO at Softlogic Information Technologies (Pvt) Ltd said, “We are pleased to say that the Sri Lankan market is growing in terms of technology. We now witness clear importance being offered to graphic workstations by architects, designers, and engineers who use these systems to increase their efficiency and productivity. For many years, these experts have been using customized desktops and notebooks to suit their requirements, though, the graphic workstation is specifically built for ‘number crunching’ jobs that need a high CPU power and outstanding graphic capabilities.
Furthermore, the workstations are already fine-tuned for the software that these experts utilize. We are proud to be a part of Lenovo and the impact they are having in this section of he market.”
Ceylon Chamber Conducts BCCS Awards Briefing Webinar
The Ceylon Chamber of Commerce recently held a webinar to brief prospective applicants for the Best Corporate Citizen Sustainability (BCCS) Awards 2022. Held this year for the nineteenth consecutive year, the BCCS Awards, which champion corporate sustainability in an increasingly environmentally vulnerable world, are one of the most anticipated events on the corporate calendar.
Against a backdrop of a challenging year in terms of the global and national socio-economic environment, the Awards seek to highlight proactive initiatives that sought to ensure sustainable and resilient practices. ‘The purpose of these Awards is to give due recognition to the concept of corporate sustainability in Sri Lanka, whilst encouraging corporates to adopt the best sustainability practices in their business strategies. Considering the COVID-19 pandemic and the current socio-economic crisis that had a significant impact on business operations in 2021/22, this year the Chamber has adopted new and enhanced evaluation criteria, whilst also introducing Awards that celebrate sustainable resilience’, Alikie Perera, Deputy Secretary General and Financial Controller of the Ceylon Chamber stated, delivering the welcome preliminaries on behalf of the Ceylon Chamber.
The briefing was led by the Chairman of the Panel of Evaluators and a veteran in the field of sustainability, Dr. Ananda Mallawatantri, Country Representative (Sri Lanka) - International Union for Conservation of Nature. Stressing the urgency in mainstreaming sustainable Environmental, Social, and Governance (ESG) practices in core business processes and corporate strategies, Dr. Mallawatantri elaborated on ESG practices including circularity, net-zero approaches, life- cycle analysis, science-based targets, etc. as important pillars of sustainable strategies. The introduction of a ‘Planning and Adoption of Resilient Practices for Covid-19 and Emerging Country Context’ award this year, will highlight corporates that effectively identified, assessed, and implemented Covid-19 resilient practices, as well as practices to ensure sustainability and stability in the context of emerging political, economic and social disruption.
Dr. Chandana Siriwardana, Senior Lecturer, Faculty of Engineering - the University of Moratuwa, who will lead the panel of evaluators for the Best Projects Sustainability Awards, briefed participants on the Best Projects Sustainability Awards application. These awards highlight the efforts of the private and public sectors to develop and implement individual projects that promote a specific aspect one or more aspects of sustainability, and which demonstrate a contribution to the well-being of the people or the planet. Applications for the BCCS Awards are now open, with the application forms, brochures and other relevant documents accessible at www. chamber.lk For further information, please call Oshadhi on 0115588851 / email@example.com or Whitney on 0115588850 / firstname.lastname@example.org
Pics by Prabodha de Silva
Nippon Donation Foundation facilitates Roshan Mahanama The Nippon Donation Foundation is active in over 30 countries around the world and continues its efforts to uplift many sectors in developing nations such as health, and Its entrepreneurship and more. It is one of the leading donations incorporated in Japan oy founder and Chairman Mr. Yuma Muranushi, who from a young age has been wo towards achieving lasting peace in the world. A self-acclaimed entrepreneur, Mr. vudud Degan investing at the age of 19 while studying at the Osaka University in Japan. At age 24, he established a private fund and entered the financial business, managing domestic and foreign funds, and repeating business buy outs. Mr. Muranushi, is in Sri Lanka on the invitation of Dr. Ruwan Perera, the National Director tor the Nippon Donation Foundation. He previously donated Rs.10 million worth of medicine to the National Hospital of Sri Lanka. He is facilitating former Sri Lankan Cricketer Mr. Roshan Mahanama, for his continuous social work and donations during these challenging times. Mr. Muranushi is also in Sri Lanka to seek avenues to expand his commercial and CSR activities widely in Sri Lanka through donations and FDIs on a long-term basis. Mr. Yuma Muranushi commented on his visit to Sri Lanka: "I honoured to have been invited to Sri Lanka by Dr. Ruwan Perera. I see this country as one with endless potential, and it imperative that we do as much as we can to assist this nation and its people in their recovery from the challenges brought about by the current economic situation. I am pleased to be able to facilitate Mr. Roshan Mahanama, whose generosity during these challenging times has been invaluable."
Dr. Ruwan Perera is an electrical engineer who studied at the Tokyo University in Japan and worked at the Sony Corporation for over 20 years at a senior level. Dr. Perera holds 3 global patents under his name and facilitates commercial and non-commercial bilateral relations between Sri Lanka and Japan. He is currently the Chairman of a conglomerate in Sri Lanka, that holds over USD 100 million worth of interest in the country. The latest investment was USD 25 million to build the first ever airport transit hotel in Sri Lanka.The Nippon Donation Foundation has p edged to continue with their donation programmes and initiatives to previously identified sectors. The organisation will also continue to bridge Japanese investors to invest in lucrative projects in Sri Lanka. Additionally. Dr. Perera will facilitate local exporters who want to enter the Japanese market and as made arrangements for a Japanese investment delegation to Sri Lanka in the next few months to help the people and the government of Sri Lanka recover from the previously identified sectors. The organisation will also continue to bridge Japanese investors to invest in lucrative projects in Sri Lanka. Additionally. Dr. Perera will facilitate local exporters who want to enter the Japanese market and as made arrangements for a Japanese investment delegation to Sri Lanka in the next few months to help the people and the government of Sri Lanka recover from the prevailing economic crisis.
Fairfirst -Among most loved General Insurance Brands in Sri Lanka
Fairfirst Insurance, known for its empathy-based innovations, has transformed the insurance industry since the brand’s inception, and its capabilities in refreshing and uplifting the service quality within the local industry have translated into the company being ranked as “One of the Most Loved Brands” in the General Insurance category, as recognised in the Brands Annual 2022 edition (compiled by Brand Finance / presented by LMD). This also comes on the heels of the company being recently awarded as one of the “Most Innovative Brands” across all categories in Sri Lanka by the Sri Lanka Institute of Marketing (SLIM) and the only General Insurer that’s acquired the highest Facebook review score of 4.1 ratings (as at May 2022). It is evident from these wins that the company’s evolving capabilities find more unparallel ways in redefining world-class customer experiences with empathy, authenticity, transparency, and responsibility.
Becoming one of the most loved brands has become possible because Fairfirst has consistently and continuously delivered on its brand promise. A promise built on four essential pillars – experts in protection and progression, service quality beyond the usual, meaningful innovation, and peace of mind at the right price – each pillar stands on its own to complement the unique strengths of the company’s efforts in delivering empathy-led, customer-centric insurance solutions and journeys that allow them to redefine the status quo through its world-class service offerings.
Speaking on this achievement, Sandeep Gopal – Chief Executive Officer of Fairfirst Insurance, commented: “To be recognised as one of the most loved brands is a great accomplishment for any company. The weight of this recognition is even greater when our efforts in doing well by doing good for individuals, businesses, and the communities are consistent despite all odds. I thank all our amazing Sri Lankans for believing in us on this journey to be the best. Great moments like these motivate us to continue on our path of contributing to the progression of this nation.”
Whilst the use of such techniques and tools revolutionizes its positioning in the insurance category, being a responsible corporate citizen is also an integral part of the company and its global values. Delving into the grassroots of the community via a proactive community engagement agenda plays a key role in the FairfirstWay of promoting Sensible Optimism. That is why Fairfirst’s thinking is not boxed into short-term goals with immediate results, but goes beyond what meets the eye.
Sasith Bambaradeniya – Chief Marketing Officer of Fairfirst Insurance, also commented: “We are extremely thrilled about this achievement. This recognition serves true to our consistency in delivering on our brand promise, always. A promise that emphasises our strengths in generating unique and empathetic insurance solutions across the market. It is also an apt recognition of being progressive, aligned to customers evolving needs, and always willing to make a sensible difference.”
Fairfirst Insurance Ltd. is part of the global Fairfax Group. The Group is a leading property and casualty insurer, reinsurer, and investment manager, headquartered in Toronto, Canada. Fairfirst is today among the top general insurance companies of Sri Lanka and is recognised as the only Sri Lankan company amongst the 2020 top insurance global giants in Asia-Pacific. Fairfirst serves individuals, businesses, and institutions across this beautiful island through a versatile workforce spread across the comprehensive branch network, affinity partners, and brokers in Sri Lanka.
Luminex IPO Postponed to 19th May
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share, that will be postponed until the 19th of May 2022. The postponement comes in the light of the current unrest in the country and at the consultation with the CSE.
The issue, when launched, amounts to an 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will enhance the working capital to scale up by consolidating local operations. Navara Capital Limited are a financial advisor and issue manager.
Luminex Limited is a leading engineering company and market leader in Telecom Infrastructure Engineering and is also involved in Electrical, Civil and Water Projects as well.
The company has been in operation for well over 35 years and completed over 850 projects in the past 10 years. It is a leading telecom OSP (Outside Plant) construction partner for Sri Lanka Telecom and Dialog Axiata and a construction contractor for Public & Private entities. The company is empowered by a competent 570 in-house workforce across 8 operation centres and 29 project offices at present.
For IPO applications and more information, visit www.cse.lk/ www.luminexpl.com/ipo /www.navaracapital.com .
Prima Brands win Big at Partner Power 2022
Top-performing suppliers awarded at Keells’ annual supplier convention
Ceylon Agro Industries Ltd (Prima Group Sri Lanka), the company behind some of Sri Lanka’s most popular consumer brands such as Prima KottuMee, Prima Stella, Prima Sunrise, Prima Treats, Prima Flour and many more, was recognized at the recently concluded “Partner Power 2022”, the 9th annual supplier convention hosted by Keells.
The Keells Annual Supplier Convention recognized and awarded top-performing suppliers for the year 2021/22 across multiple industries, under four key categories: Best Performance – Platinum Tier, Best Performance – Gold Tier, Best Performance – Silver Tier, and Best Performing – Private Label Supplier.
The highlight of the event was that CAI (Prima Group Sri Lanka) emerged victorious, receiving the Best Performance – Platinum Tier award for its exceptional performance that syncs with Keells’ core purpose of improving the quality of life for the nation, where the best outcomes are ensured for all Keells and Prima consumers islandwide.
Ceylon Agro Industries (Prima Group Sri Lanka) Deputy General Manager Sajith Gunaratne and Channel Manager Raveen Perera receiving the award
LankaPropertyWeb Celebrates its 15th Anniversary
With a Focus on the Post Pandemic World
LankaPropertyWeb Sri Lanka’s number one real estate platform celebrated its 15 year anniversary since its inception on the 22nd of April 2022. The real estate company was founded in 2007 offering digital listings for the real estate market in Sri Lanka. Currently, it is the largest real estate platform in the country providing a complete service in property buying, selling and investing.
The 15-year celebration marks a significant milestone in the company's history as now the website has over 500,000 monthly visits from more than 70 countries including Sri Lanka. It has also become a pioneering platform in assisting property buyers and sellers to connect virtually without geographical restrictions.
Commenting on the growth of the company, Daham Gunaratna, Managing Director of LankaPropertyWeb (LPW) said, “Since the inception in 2007 as a digital online property portal, we have expanded to many other areas throughout the last 15 years, to help the country’s property buyers and sellers. Now LPW is not only the No.1 property site, but also operates the No.2 site as well, through House.lk and also idealhome.lk, which helps homeowners and builders to find products and services. We plan to continue our expansion into the future years to bring more facilities, insights and assistance to the public to help them with their property needs.”
Besides offering a platform for digital listings, through its LankaPropertyWeb Research wing the company releases monthly data-based informative articles and content on the Sri Lankan real estate market. While LankaPropertyWeb Digital provides digital marketing solutions to the majority of the real estate agents and property developers in the country. Property buyers and investors are also connected with lawyers, valuers and other property related consultants through idealhome.lk and the Buyer and Seller Assistance service that was launched in 2018.
Since 2017, LankaPropertyWeb has also been organizing its annual property show, the Lanka Property Show. With the pandemic striking Sri Lanka, the initiative to launch the first virtual property show in the South Asian Region was taken up in 2020. The event had seen massive success and will be hosted alongside the physical event from here onwards. The property show is Sri Lanka’s largest real estate gathering and with the virtual property show it has now managed to successfully remove the geographical barriers related to the real estate purchase in Sri Lanka.
As a part of this year’s 15th anniversary LankaPropertyWeb will be launching a new and improved ad posting and management section, along with relaunching its app with upgrades to facilitate the purchase and sale of property easier.
While the new upgrades make it easier to post and manage ads from whichever devices you use, it’ll also include new features and technology that have become widely used by property seekers around the world since the pandemic, such as ability to shoot and upload property videos and 360 walkthroughs straight from a standard smartphone, without requiring any additional hardware or software, which facilitates remote viewings of properties.
The launch of the invest section in 2020 was another significant milestone of LPW in its 15 year journey. In Sri Lanka, the real estate sector contributes up to 6% of the GDP. While the typical rental yield from an apartment for rent in Colombo amounts to 6% and the return on investment is 8%. However, due to the lack of financial literacy, the number of investments taking place is low and those profiting off of these is less.
“In the dynamic real estate sector of Sri Lanka being the No. 1 property portal of the country LPW is getting prime properties available for sale in Sri Lanka. Going a step further LPW research and strategy team evaluate these properties with a series of internal and external analytics and advise real estate investors to make viable investment decisions making their property search easy and fast. We have supported first time home buyers to multi billion projects like the Port City Colombo in making their decisions” commented Tharindu Jayaratna Head of Research & Strategy of LankaPropertyWeb.
The invest page includes features like a Return On Investment (ROI) calculator, a catalogue of top investment opportunities, trending properties and all the details on why you should be investing in Sri Lankan real estate.
LankaPropertyWeb also launched a complete Property Buying Guide earlier this year in all 3 languages Sinhala, Tamil and English, offering buyers, sellers and investors information on buying, selling and investing in property in Sri Lanka. The guide compiled along with industry experts and lawyers is aimed at bridging the gap in the lack of information in the real estate market in Sri Lanka.
Continuing on with the tradition this year as well LankaPropertyWeb will be hosting the Lanka Property Show 2022 virtually and physically on the 25th and 26th of June, while celebrating its 15th year anniversary. More details on the event will be released in the near future.
Luminex Limited announces upcoming IPO
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share commencing on the 12th of May 2022. The issue amounts to a 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will be utilized to enhance the working capital to scale up by consolidating local operations. Navara Capital Limited are the financial advisor and issue manager.
Luminex Limited is a leading engineering company and market leader in Telecom Infrastructure Engineering and also involved in Electrical, Civil and Water Projects as well. The company has been in operation for well over 35 years and completed over 850 projects in the past 10 years. It is a leading telecom OSP (Outside Plant) construction partner for Sri Lanka Telecom and Dialog Axiata and a construction contractor for Public & Private entities. The company is empowered by a competent 570 inhouse workforce across 8 operation centers and 29 project offices at present.
Luminex has been certified as EM1 by the Construction Industry Development Authority (CIDA) in the main area of operation and it has also obtained the ISO 9001: 2015 Quality Management Certification awarded by DET NORSKE VERITAS (DNV). The Company has recorded an annual turnover of LKR 2.55Bn for year 2020/2021 and after-tax profit of 295 million. In the first nine months of the FY 2021/22 the company has recorded a turnover of LKR. 2.48Bn and after-tax profit of LKR. 453 million maintaining a healthy growth rate.
Ruwan Fernando – Managing Director of Luminex commented: “We are pleased to list Luminex Limited on the Colombo Stock Exchange as part of our strategy to broad-base the ownership and to further enhance our brand equity. Luminex is positioned strongly in the nation’s engineering sector and is geared to expand its operations beyond the shores of Sri Lanka. Since the offer is already announced, we invite the public to subscribe for shares of Luminex against a backdrop of aggressive expansion in telecom infrastructure and water projects which are expected to benefit revenue growth of Luminex favorably.”
Jayasankha Alahendra COO of Navara Capital commented “we believe the issue is attractively priced at 3.18 times PE based on the 9months earnings for 31st December, 2021. Luminex presents a favourable investment opportunity even in the currently depressed market conditions. Based on the historical records of the company, one could expect an attractive dividend payout and this would present an excellent investment opportunity in the medium term.”
For IPO applications and more information, visit www.cse.lk/ www.luminexpl.com/ipo /www.navaracapital.com .
‘10 Best Sri Lanka Startups – 2022’ Avanta Infotech -SiliconIndia Startup City magazine
Avanta Infotech, an end-to-end telecommunications infrastructure service provider in Sri Lanka, was recently recognized by the SiliconIndia Startup City magazine, a leading business magazine focusing on news, challenges, and talks related to start-ups, under its annual “10 Best Sri Lanka Startups – 2022” ranking.
Each year, the ranking, one among the multiple rankings carried out by SiliconIndia Startup City, acknowledges the prowess of the 10 best start-ups in Sri Lanka and their contribution to the growing start-up ecosystem of the country. Commenting on this recognition, Avanta Infotech Managing Director Irishad Ally stated: “We are honoured to be recognized as one of the best start-ups in Sri Lanka for the year 2022 by a leading Indian magazine dedicated to start-ups. This is a testament to our commitment and passion to consistent value creation for all our stakeholders, which stems from our strongest attributes of innovativeness, scalability, and teamwork. Sri Lanka’s telecommunications industry is one of the fastest-growing in the South Asian region. Having recognized this potential since day one, we at Avanta are committed to continuing our efforts to become the foremost player in telecommunications project implementation and consultancy.”
Start-ups are often termed as the innovators of a country and play an influential role to uplift local communities and accelerate economic prosperity. While global statistics back the claim that start-ups create more jobs compared to larger enterprises, start-ups in the telecommunications service industry in Sri Lanka are becoming increasingly competitive and rewarding. Initiated taking these developments into account, the “10 Best Sri Lanka Startups – 2022” list has gained incredible response from the corporate fraternity since inception, as it adds value to the recruitment industry, thus fast-tracking the growth of the start-up culture.
Sharing insights into Avanta’s way forward, CEO Damitha Kariyawasam noted: “It is truly humbling to be recognized by SiliconIndia Startup City in appreciation of our contribution to the development of the Sri Lankan start-up ecosystem. As a principle, we constantly monitor trends and challenges in the industry. This helps us keep ourselves ahead of the game, the benefits of which are ultimately enjoyed by our clients. Avanta is dedicated to further ensuring the highest standards in our products and service delivery.”
The selection process to determine the top start-ups in Sri Lanka for 2022 has undergone deep scrutiny, incorporating a comprehensive survey and an interview conducted by a panel of judges comprising CXOs, analysts, and the SiliconIndia Startup City editorial team. Established in 2019 as a subsidiary of Arinma Holdings (Pvt.) Ltd., Avanta Infotech is a complete solution provider catering to telecommunication companies, local operators, and public entities. The company offers clients a wide array of telecommunication products, services, consultancy, and trading requirements, including telco engineering solutions, Software as a Service.
‘Diabe Tea-Sabaragamuwa’ by Fadna Tea reinvigorates lifestyles
Fadna Tea (Pvt.) Ltd., a pioneer in the Sri Lankan herbal tea industry, is making waves with the launch of its new product, “Diabe Tea-Sabaragamuwa”. Fadna introduced the concept of sharing the natural goodness of conventional beverages with the world and now brings its own functional herbal tea products by preserving their natural goodness while conforming to international standards.
This product uses 100% natural ingredients to maximise its benefits for patients suffering with blood sugar-related disorders. Understanding the challenges faced by such patients in society, Fadna Tea was motivated to develop a product that would somewhat alleviate their daily struggles. The product is developed in collaboration with the Accelerating Higher Education Expansion and Development Operation (AHEAD) and the Faculty of Applied Sciences at the Sabaragamuwa University.
Speaking about the project, Sabaragamuwa University Vice-Chancellor Senior Prof. Udaya Rathanayake stated: “As a university, we are continuously engaging in these types of product development projects, and launching and commercializing Diabe Tea-Sabaragamuwa is a great initiative as well as a motive for upcoming projects. We expect to do these types of projects similarly with Fadna and also other companies for the betterment of society.”
Fadna Tea Managing Director Chamendra Somatunga said: “Innovation associated with problem-solving is vital for the development of societies and countries. Commercializing products that are born out of this innovativeness not only opens up new avenues for people, especially those suffering from blood sugar-related disorders, to adopt healthier lifestyles but also supports the local economy. We thank the AHEAD Grant for their collaboration, research, and assistance in making this product a success. We hope to introduce and commercialize similar products in the future to serve more people in the long run.”
Fadna Tea (Pvt) Ltd. strives to continuously innovate in collaboration with esteemed research and educational institutes across the country. Research and studies are constantly carried out in collaboration with several universities to improve the quality and efficacy of the products, where research results are published in globally recognized journals. Revitalising the tea industry of Sri Lanka through the superior quality that can be seen at the root of all their products, Fadna Diabe Tea-Sabaragamuwa is a stepping stone in Fadna’s journey towards truly elevating the lifestyles of the people of Sri Lanka.
Fadna products are exported to many destinations across the world. With these great strides, Fadna has expanded its production domain to functional cosmetics based on traditional formulae used in the past.
Image 1 – Fadna Tea MD Mr. Chamendra Somatunga and Sabaragamuwa University Vice Chancellor Senior Prof. Udaya Rathanayake displaying the new ‘Diabe Tea-Sabaragamuwa’ product
FLUKE POWER QUALITY TECHNICAL HOLDS SEMINAR
Pics by Prabhoda de Silva
BY Chanaka de Silva
Marlbo Trading Company which commenced operations in 1989 have launched their state of the art power testing unit to date. . The main business focuses is the importation of Testing Equipment relevant to the Energy Industry, especially Power Quality Analyzers used by the Ceylon Electricity Board Solar Industry, Lanka Electricity Company (Pvt) Ltd. and several other Consultation/Engineering companies working with the Energy Industry.
Speaking to the media Marlbo Trading Company, M ManiymuthuChairman, said, "Power Quality is one of the major factors to be considered in their day-to-day operations. With the present energy crisis around the country and the future of the energy sector is moving towards renewable energy, this technical seminar on Power Quality Analysis would be of utmost importance to the technical experts engaging in the same. This seminar is organized as a goodwill gesture to the energy industries, taking into consideration of the present situation of the country. However as the Covid-19 pandemic situation is still not fully settled, limited participants have been invited. "
Further he added that special arrangements for whoever has missed this opportunity to view this event live on social media platforms as it will be very useful to them, which has already been communicated to them.
Marlbo Trading Company, jointly with Fluke Corporation -USA has arranged this seminar presenting the following experts to help understand power analysis further, the Speakers are as follows, H M Wijekoon, Project Director, Colombo Port City Development Project, Ceylon Electricity Board.and R. Girish, Associate Manager – FPQ & Training Manager, Fluke Corporation.
Prima KottuMee ‘Advertisement of the Year’
SLIM-KANTAR People’s Awards 2022
Prima KottuMee celebrated a night of glory as it clinched the “People’s Advertisement of the Year” award at the recently concluded SLIM-KANTAR People’s Awards 2022. Not only does this re-affirm the brand’s love of fun, but also how much Prima KottuMee has captured the hearts of the youth in the country.
The advertisement features Sri Lankan, global singing sensation and Prima KottuMee Brand Ambassador Yohani de Silva, spotlighting and living the brand’s iconic Hot N Spicy ethos. Commenting on the win, Deputy General Manager Sajith Gunaratne shared: “It is a great honour to be recognized at one of Sri Lanka’s most prestigious award ceremonies and winning ‘People’s Advertisement of the Year’. This is a true testament of the consumers’ share of heart Prima KottuMee has. It truly inspires us to continue by staying relevant, whilst also raising the bar as to how we communicate our Hot N Spicy ethos. We thank our valued consumers for the immense love and support they continue to show towards Prima KottuMee. We would also like
to thank our creative partner TBWA, media partner OMD, and production partner Premier Edge Productions; our Brand Ambassador; and our very own Prima KottuMee team for the passion and hard work that made this advertisement as well as this achievement a reality.”
The 16th SLIM People’s Awards was organized by the Sri Lanka Institute of Marketing (SLIM) in partnership with world-renowned research company Kantar. The winners were chosen through a nationwide scientific research methodology covering all provinces, classes, and age groups. A
key national awards ceremony in Sri Lanka, SLIM People’s Awards celebrates the voice of the people, where the favourite brands, organizations, personalities, and programmes that have made a profound impression on the hearts and minds of the Sri Lankan people are picked as
Daraz wins the hearts of Sri Lankan youth
at SLIM-KANTAR People’s Awards 2022
Daraz Sri Lanka won the ‘People’s Youth Choice Service Brand of the Year’ award at the recently held SLIM-KANTAR People’s Awards 2022, clinching the first-ever accolade for the eCommerce platform at the esteemed national awards ceremony organized by the Sri Lanka Institute of Marketing (SLIM).
Speaking about the award win, Daraz Sri Lanka Head of Marketing Heshan Perera said: “We are honoured to have won the hearts of Sri Lankan youth as their preferred service brand, and are truly humbled that within a short span of time, we have been able to make a significant impact in the lives of our youth. Daraz has always been focused on bringing new and exciting experiences to our customers while enhancing their lifestyles and making lasting impressions. We are confident that the all-new Daraz experience will add even more value to our customers, giving them more reasons to stay with us for the long term. We thank all our valued customers for their love and support, while also thanking SLIM for providing this platform to recognize and honour the voice of the people.”
A key event in the Sri Lankan corporate calendar, the 16th edition of the SLIM People’s Awards was carried out in partnership with the globally renowned research organization Kantar as the Research Partner. The awards incorporate a scientific process through which brands, organizations, personalities, and programmes that have made the deepest impression on the hearts of the people are chosen as the winners each year.
Committed to uplifting communities through the power of commerce and serving the country at large by boosting the digital economy, Daraz has played a key role in transforming the way people perceive and experience online shopping in a changing world, bringing convenience, island-wide delivery, and secured payment options. The eCommerce platform is also focused on empowering its seller community, including women entrepreneurs and small and medium-sized enterprises (SMEs), by educating and providing access to wider -markets through tech-enabled business tools.
Providore redefines online shopping
Providore, the online grocery store co-founded by Sri Lankan cricketing legends Kumar Sangakkara and Mahela Jayawardene, is redefining online shopping in Sri Lanka by bringing freshness, quality and on-time delivery to every customer’s doorstep.
All Providore produce is of the freshest quality as the fruits and vegetables are delivered to their modern processing centre daily. Here, each item is carefully quality checked, cleaned, packed and stored in a specialized optimum temperature-controlled storage, ready to be delivered directly to the customer as and when required by them.
When it comes to deliveries, the Providore Customer Service Associates (CSAs) have been specially trained to use the given mapping software to accurately find the location of the customer instead of calling numerous times. Additionally, while the customers are given the freedom to schedule their deliveries, the CSA ensures that the package is delivered exactly during the allocated time slot chosen by the customer. This provides customers greater freedom and convenience as they are able to plan their deliveries based on their work schedule and availability at the given delivery location. This is very convenient for individuals working from home and especially for busy mothers who have to manage several things on the home front. Using Providore, they are able to easily order the items they require and get them delivered when they want so that they can plan their cooking for the day easily, saving them time and reducing their stress. Furthermore, considering the customers’ need for immediate fulfillment of orders Providore is now available on UBER and PickMe as well.
Sharing her views, Menaka Galgamuwa – CEO of Providore stated, “Providore is your all-inclusive shopping experience where everything you want is at your fingertips. Our ethos is freshness and quality and we have taken all necessary steps to ensure that only the freshest fruits and vegetable are received by us, stored at optimum conditions, dispatched carefully and delivered on time to our customers. When it comes to customers who are working from home, especially busy mothers running their households, they will find our deliveries very convenient as they can select the time slot for the package to be delivered so that they can plan their cooking and meals. Also, the fact that the CSAs won’t be calling multiple times to ask for directions and will simply find his way to your doorstep using the maps tool given to them is another great benefit for the customer.”
Providore has gone to great lengths to play an active role in helping reduce the impact of plastic in the environment by partnering with the largest HDPE plastics recycler in the country and one of the foremost manufacturers for sustainable packaging based on polyethylene. By collecting plastic packaging from previous deliveries and using only recycled bags as part of its sustainability roadmap the company is exploring options for more sustainable packaging.
Providore was introduced as a customer-focused start-up venture to deliver unparalleled quality and service for online grocery shoppers in Sri Lanka. Customers are presented with over 2,000 items to choose from and these include everything from daily essentials and groceries to personal care, household equipment, bakery products, health and wellness products, pet food and accessories, along with premium quality products including cheeses, meats and artisanal ice creams and desserts. Providore ensures food safety and hygiene on all products and guarantees 100% quality, service and on-time delivery. Customers can place orders through the Providore website, the Providore.shop App which available on Apple and Google Play Store for daily delivery from 8am to 8pm and now through UBER and PickMe as well for smaller orders and immediate fulfilment.
Mount Lotus Hospital marks World Glaucoma Week 2022
by creating awareness on Glaucoma treatments and lifestyle changes
Mount Lotus Eye and ENT Hospitals, the newest hospital of its kind in Sri Lanka, is marking World Glaucoma Week 2022 by focusing on the various types of treatments for Glaucoma and tips for lifestyle changes if you are diagnosed with it.
There are different types of treatments for glaucoma all of which depend on the type of glaucoma you have. The most common type is known as primary open-angle glaucoma and is generally treated using eye drops. Eyedrops reduce the pressure in the eyes and are normally used between 1 and 4 times a day. At times, you may have to try several types of eyedrops before finding the one that works best while there is a possibility that you may require more than one type of eyedrop. In the event, eye drops don’t improve your condition laser treatment may be recommended. This involves a high-energy beam of light that is cautiously directed towards one part of your eye to stop fluid buildup. In rare cases, both eye drops and laser treatment may not be effective and surgery may be required. The most common type of surgery for glaucoma is called Trabeculectomy were part of the eye-drainage tubes are removed to allow fluid to drain more easily.
Living with glaucoma will require you to make certain lifestyle adjustments. You may be required to take one or several types of eye drops throughout the day to manage your glaucoma. This should be done according to a proper schedule and therefore alarms and alerts on devices such as your mobile phone, computer or watch are useful. With the loss of vision, you are prone to the risk of falling and injuring yourself. So areas of the household should be cleared of potential dangers and as a habit, you should always scan any room and be aware of the surroundings before entering. Regular exercise based on your doctor's advice will also help your eye health as well as your overall health. If you're an avid reader, you will find reading to be challenging due to the loss of vision. However, by using tools such as handheld magnifying devices you can continue reading. Web browsers allow you to increase the font size and contrast for easier reading while there are also tech-based solutions such as audiobooks to enjoy your favourite books without actually reading.
Testing for glaucoma can be done at Mount Lotus Eye and ENT Hospitals located at No.102, Galle Road, Mount Lavinia. It is a specialized hospital dedicated to providing a world-class range of Eye and ENT medical solutions to local and international patients. The hospital is fully-equipped with modern medical technologies and highly-acclaimed, skilled professionals to provide medical and surgical solutions for any kind of Eye and ENT impairment.
Pics By Prabodha de Silva
‘#MyHomeKurunegala’ real estate investment CBH Lands sheds light
Real estate is highly regarded as a stepping stone to financial security, CBH Lands, a leader in real estate in Sri Lanka and the market leader in Kurunegala, shared new research and insights into the strategic importance of Kurunegala to national economic growth and community development.
Speaking at a special media briefing on 8 March 2022, CBH Lands Founder Chairman Yatila Wijemanne and Deputy Founder Chairman Manjarie Tissera explained the historic, territorial, and scientific aspects of real estate investment in Sri Lanka and opportunities for investors through its “#MyHomeKurunegala” initiative. At present, Kurunegala is the second largest contributor to the national GDP (gross domestic product), with the second-largest government teacher base and highest road kilometrage. With a trade economy that functions independently, whereas many other areas mainly rely on tourism or their close proximity to Colombo, Kurunegala is strategically located at the crossroads of key internal routes in the country.
Over the past three years, Kurunegala has demonstrated an annual land price appreciation of 60%, according to CBH Lands Intelligence. While the company only focuses on lands, it was mentioned that lands are an appreciating asset that can be easily valued.
Elaborating further on this in response to a question regarding the viability of real estate investment in the current environment, Wijemanne noted that in recent years, a significant drive for real estate investment for residential and commercial purposes has been recorded. He further noted that while there are certain bottlenecks, the low-interest rates, as well as all-time low housing and home loans offered at present, contribute to the high demand.
When questioned about the environmental impact, Wijemanne explained: “Generally, we have to go through a minimum of around 12 government bodies for each project, starting off with the Local Authority, Provincial Council, Urban Development Authority, and then the government with an analysis. From there we are referred to the Water Board, Central Environmental Authority, and Road Development Authority. We have a separate team deployed to handle all approvals.”
Adding to this, Tissera pointed out that Kurunegala is the only district in Sri Lanka that requires a developer licence, which she opined should be the practice in other districts, too. She noted: “Every district should have a policy where a licence is required for this kind of subdivisions. That way, other rivers and such can be protected, too, not just in Kurunegala.”
Drawing attention to the “Real Estate Decision Triangle”, put together by CBH Lands Intelligence, it was mentioned that investor decisions are based upon the three factors of budget, space, and location. Noting that generally real estate investment is a compromise, especially in Colombo and Gampaha Districts, where one of the factors are sacrificed, Kurunegala poses no such threat at the moment.
Both Wijemanne and Tissera emphasised that while national development programmes and marketing campaigns – such as those implemented in Hambantota – could be highly beneficial, the responsibility of the development of Kurunegala also falls on the shoulders of developers, residents, and businesspersons of the district.
Gifts that love your body and the planet by The Body Shop
Celebrate love a little more sustainably this year with gifts that love your body and the planet. Activist brand, The Body Shop, has rounded up an assortment of vegan and nature-inspired gift choices including those that can be repurposed or recycled. Made with ingredients sourced through Community Fair Trade partnerships, or that feature clever packaging designed for a second life, shopping for gifts that do good could not be simpler.
Shop more mindfully with The Body Shop vegan gift ranges, choose gifts wrapped in sustainable, bio-degradable pouches to contribute towards a cleaner environment. By opting for more natural materials, you will also be supporting the small-scale artisans who source and craft them.
The Body Shop’s gifts that give back don’t just bring joy to the people you gift them to, they support the partners who help make these body-loving treats. Its Community Fair Trade programs source ethical, high-quality ingredients and help suppliers gain market access. Some gifts keep giving. Spoil the people you love with gifts that can be reused, recycled, or come in re-giftable packaging.
The Body Shop celebrates the day of love with carefully crafted gift packs featuring favourites from its skin, body, hair, bath and body, makeup, and fragrance ranges. The hampers can be customized online or at The Body Shop stores on Bagatale Road, Odel in Alexandra Place, Kandy City Centre, and Colombo City Centre.
Pics by Chanaka de Silva
Southbeach Weligama by Balmond Studio a celebration of modern beachfront living
106 apartments on Weligama beach from $129,000 equivalent of 26 million rupees
Unique design features combining internationally acclaimed architecture design
combined with Sri Lankan artisanal craft
Balmond Studio's signature design in Colombo is Cinnamon Life
01 February 2022 Colombo Sri Lanka: The beautiful Weligama coast will soon play host to Sri Lanka's most exciting new freehold address South Beach Weligama. These 106 apartments offer exceptional value designed by the internationally renowned Balmond Studio, designers of Cinnamon Life, Colombo.
Balmond Studio combines over 50 years of experience in architecture and design with Cinnamon Life being its visionary ideal for Colombo's transforming skyline. Its London and Colombo design studios renowned for innovation, creativity and passion for modern design is led by Sri Lankan born Cecil Balmond OBE, the world's leading thinker on form and structure. His son John Balmond who leads the Southbeach Weligama project explains the unique proposition Balmond Studios adds to the Sri Lankan property development landscape.
"Southbeach Weligama offers an affordable alternative to a 5-star hotel infusing a complete, distinctive and ethical lifestyle, promising year-round yield, setting a new trend for coastal living," he says. "In 2017, the Oxford Business Group predicted that beachfront properties in Sri Lanka will increase in value by 50% and in fact, Weligama land values have increased 84% since 2016 as per a report by Jones Lang Lasalle. With these statistics depicting the high-value, Southbeach Weligama narrates, our one and two-bedroom apartments at 727 square feet and 1,137 square feet respectively are predicted to bring in a gross rental yield of 6.5%." Balmond Studios has partnered With global commercial property and investment management company Jones Lang La W has offices in 80 countries, to position a high-level team at Southbeach Weligama to ensure investments are secure and in safe hands.
Besides a 75 meter beachfront and 35-meter swimming pool, John says, "Our entire look is a celebration of modern Sri Lankan talent, from showcasing local artists in the art gallery to having all the furniture handmade in Sri Lanka. The feel is about elegant sophisticated beachfront living embracing international lifestyle vignettes with our renowned F&B partner from London operating the restaurant and poolside bar, while our design intertwines the surrounding Sri Lankan landscape in all its multiple hues."
Southbeach Weligama's oxidized copper façade and blue/green glass balconies reflect the colour palette of the Indian Ocean and surrounding coconut palms. The spacious interiors with their high ceilings, large rooms and balconies are complemented by artisan furniture and lifestyle vignettes handmade by Sri Lankan carpenters and masons.
"We believe strongly in 360-degree sustainability principles being integral in everything we do," says John of Southbeach Weligama aiming to meet the Platinum standards of the Green Building Council of Sri Lanka. "We infuse the synergies of renewable energy and design into our project, with turbines and solar panels powering the lobby and restaurant areas and rainwater harvesting conserving water. We are building strong relationships with our local communities to not just ensure sourcing local produce but also that every piece of furniture within the property is artistically crafted by Sri Lankan artisans. And for every apartment sold, we will donate USD 1,000 to Lanka Environment Fund towards their conservation projects. It is up to us, to protect today to create tomorrow."
Pics by Chanaka de Silva
Astra Activ support normal immunity and growth & development
Packed with micronutrients and omega 3 & 6 essential fats
Tuesday 1st February 2022, Colombo: Astra was launched in Sri Lanka, back in 1965 providing great taste and the nutrition to help kids 'Grow Healthy & Happy. Astra is currently owned by Upfield which is the largest plant-based food organization in the world with their presence across 95 countries. As an organization which operates with the purpose of making Sri Lankan families,
healthy and happy with great tasting plant-based products which are good for us and good for the planet, Upfield always tries to ensure that they come with solutions which address consumer needs and their tension points The current Astra portfolio includes Astra Fat Spread, Astra Mayonnaise and Astra Cooking Pack.
With the increasing focus on kids' growth and immunity, Astra has now introduced its newest addition 'Astra Activ fat spread to the market, which is fortified with vitamin A, D, B6, B9 and B12 to support the normal function of the immune system and omega 3 & 6 naturally sourced from sunflower and canola oils to support the growth and development of kids. As a plant-based product, Astra Activ is free from bad trans fats and doesn't have any inherent cholesterol. At the same time, it also does not conta in artificial colours or artificial flavours. Astra Activ is also a soft fat spread. So as soon as you take it out of the refrigerator, it can be applied right away. This makes it an ideal fit into today's busy lifestyles helping moms better busy mornings and sending children off to school.
Cementing its credentials as the preferred choice for children in Sri Lanka, the launch of Astra ActivW was held by Upfield Sri Lanka, on 1st February, amidst a timely panel discussion that comprised of an eminent panel including Dr. R.M. Surantha Perera - Consultant Pediatrician and Neonatologist, Ministry of Health of Sri Lanka, Ms. Nilesha Dahanayake - Registered Nutritionist, Nutritionist at Dietplan LK, Former Nutrotionist for the National Football Team, Ms. Nadini Premadasa Musician, Performer and Mother and Ms. Shehani Liyanage - Global Marketing Manager, BlueBand for AMEA (Asia Middle East Africa) & ANZ region at Upfield Lanka Limited.
This panel discussion provided professional opinions and insights on the right micronutrients including Vitamins A, D, B6, B9 and B12 that are important to support the normal function of immunity. The panel also discussed the type of food such as vegetables, fruits, green leaves which can carry these nutrients as well as how difficult it can be to feed these foods to our little picky eaters. Another key point of discussion was on kids growth and development. Parents expectations on growth expands beyond physical growth into mental and cognitive growth as well. And it is important to have the right nutrition to facilitate that. Omega 3 and 6 essential fatty acids play an important role in this overgrowth of kids. However, these fatty acids cannot be made inside our bodies hence has to be taken in with the diet. Omega 3 can be found in food such as fish oil while omega 6 is abundant in sunflower, canola linseed and similar plant-based
eeds and oils. However, giving the right quantities of these food on daily basis can be challenging specially with kids' food preference. That's why Astra Activ is going to be the best friend of our parents going forward as it is packed with those essential fats and micronutrition in the form a tasty fat spread that is easy to be given to our picky eaters.
The session also offered insights on debunking myths around fats and margarine. There we some shocking data and insights that revealed around consumer perceptions based on resear conducted by Prosoft research agency. 95% of Sri Lankans believe that fats are overall bad, a it makes you fat, which is a completely wrong perception. As per WHO classification, 30% of daenergy must come in the form of fats. All that is importa t is to eat everything in moderation it fats or any other food type. But as a key macronutrient, if you remove fats totally from yodiet that can have bad repercussions such as lack of vitamin absorption and increase in bacholesterol formation in body.
With generations of mothers' trust and love for over 56 years, Astra is also known for its icorflavour and that great taste is still maintained for their newest addition Astra Activ as well. Inmtime where consumers are constantly worrying about source of the products they buy, it is al-noteworthy to share that Upfield products are made with the finest ingredients and made global and local standards. Their products are manufactured locally as per the SLSI standa guideline under both HAcCP and GMP certified facility. They also use new cutting-edg
technology like interestification and full hydrogenation to ensure that no trans fats are formein the process of making their products Astra is a part of the global brand Blue Band which is present across 35 countries including bnot limited to Pakistan, Netherlands, Kenya, Malaysia, and Indonesia. And it comes to households with the same global quality standards through the same processing techniques
provide our families the essential fats and vitamins they need in their regular diet.
Vision Care’s newly-refurbished Crescat branch brings the latest Emporio Armani eyewear collection
Vision Care, Sri Lanka’s largest eye care provider, has unveiled its most comprehensive Emporio Armani eyewear collection at the newly-refurbished Crescat Boulevard branch, thereby making it the must-visit store for customers seeking the latest eyewear from the world-famous Italian fashion house.
Vision Care customers searching for classic and elegant Emporio Armani spectacles and sunglasses to add a touch of impeccable style can now walk into the sleek, spacious Vision Care branch located at L33 of the Crescat Boulevard and experience incredible, fashionable, and eye-catching eyewear and accessories. While elegance, quality, and simplicity are three main things that have formed the famous company's motto, the brand combines simple shapes and straight lines with metal frames that express the contemporary city vibes. For female customers who like eye-catching and bold sunglasses, the brand offers oversized metal square frames with an interesting A-shaped bridge and high-quality gradient lenses. Aviator sunglasses are offered for both men and women as vintage irregular frames decorated with distinctive details to add a sophisticated and elegant style to any outfit.
Emporio Armani is one of the world’s most iconic brands with a rich, fascinating history that started in 1974. The brand is characterized by its classic style and the use of grey and white colours. The iconic style of the eyewear company combines the brand's heritage spirit expressed in pastel colours and various textures with bright metal details. Each pair of eyewear made by this famed manufacturer is designed under the celebrated slogan " Simplicity and nothing more!" The company's aesthetics and its continued commitment to perfection are masterfully captured in its fashionable and stylish collections. While the brand experiments with eyewear design, it has always stayed devoted to its well-recognizable elegant and laconic style.
Prior to purchasing any eyewear, Vision Care customers can get their eyes tested using state-of-the-art equipment operated by eye care professionals with years of experience in the field. In addition to Emporio Armani, they are able to choose from a wide array of top global brands for
sunglasses and spectacles. Besides pioneering the introduction of the best range of eyewear brands recognised globally to the local market, Vision Care also offers high-quality eye testing, spectacles, sunglasses, contact lenses as well as hearing aids and hearing testing. High quality,
high precision contact lenses, optical and ophthalmic products are available at all outlets.
parents going forward as it is packed with those essential fats and micronutrition in the form a tasty fat spread that is easy to be given to our picky eaters.
The session also offered insights on debunking myths around fats and margarine. There we-some shocking data and insights that revealed around consumer perceptions based on researconducted by Prosoft research agency. 95% of Sri Lankans believe that fats are overall bad, a
it makes you fat, which is a completely wrong perception. As per WHO classification, 30% of energy must come in the form of fats. All that is importa t is to eat everything in moderation it fats or any other food type. But as a key macronutrient, if you remove fats totally from yo
diet that can have bad repercussions such as lack of vitamin absorption and increase in ba
cholesterol formation in the body.
With generations of mothers' trust and love for over 56 years, Astra is also known for its icon flavour and that great taste is still maintained for their newest addition Astra Activ as well. Inmtime when consumers are constantly worrying about the source of the products they buy, it is noteworthy to share that Upfield products are made with the finest ingredients and made global and local standards. Their products are manufactured locally as per the SLSI standa
guideline under both HACCP and GMP certified facilities. They also use new cutting-edge technology like interesterification and full hydrogenation to ensure that no trans fats are formed in the process of making their products Astra is a part of the global brand Blue Band which is present across 35 countries including bnot limited to Pakistan, Netherlands, Kenya, Malaysia, and Indonesia. And it comes to household ds with the same global quality standards through the same processing techniques provide our families with the essential fats and vitamins they need in their regular diet.
Eric Rajapakse Opticians at Malabe now
Eric Rajapakse Opticians, Sri Lanka’s leading eye care specialist with over 100 years of expertise, has widened its network by opening its newest branch located at No. 888, Athurugiriya Road, Malabe.
The new branch was ceremoniously declared by Rajeev Rajapakse - Managing Director of Eric Rajapakse Opticians at a simple ceremony that was held in keeping with the COVID-19 health guidelines given by the authorities. The company plans to add more branches to its network during the year.
The Malabe branch is conveniently located with ample parking, providing customers easy access to their wide range of products and services. The highly-qualified and well-experienced professionals of Eric Rajapakse Opticians use state-of-the-art equipment to carry out all testing. Customers can choose from world-famous spectacles and sunglasses brands including Michael Kors, Prada, Gucci, Vogue, Ray-Ban, Polo Ralph Lauren, PolarSun and many others with more brands to be added to the collection in the future. A comprehensive range of international brands of lenses, including the world-renowned Essilor lenses from France are also available. Additionally, Beltone hearing aids which are made in Denmark and available in over 40 countries, are also available allowing customers to get their eyesight and hearing checked under one roof.
Eric Rajapakse Opticians is widely known as a female-friendly optical brand due to its staff having more female personnel and its product portfolio consisting of a broad range of choices for female customers. All Eric Rajapakse Opticians showrooms provide a safe and secure environment by operating strictly following the health guidelines given by the authorities due to the COVID-19 pandemic.
Digital Payment Services to develop banking platform-ComBank Bangladesh
Award winning fintech software development provider Digital Payment Services (Pvt) Ltd (DPS) has been selected to custom develop a comprehensive digital banking platform for Commercial Bank of Ceylon Bangladesh. The solution will be the first of its kind in Bangladesh, incorporating a number of innovative features to improve the speed of on boarding new customers as well as introducing new banking products and services.
Over the past several years DPS has been recognized as one of the leading local FINTECH services providers working closely with several financial institutions, both locally and in the region. In Sri Lanka, DPS is the digital banking solution provider to Commercial Bank of Sri Lanka, having developed the innovative “Flash Digital Bank” platform that is used by many customers across the country.
“Bangladesh offers a number of interesting avenues for a digital banking solution provider,” said Mufaddal Lukmanjee, CEO DPS (Pvt) Ltd. “Most exciting being the possibility of using biometric or facial recognition as a part of the onboarding process to allow faster and more secure Know Your Customer (KYC). We are privileged to work with the Commercial Bank Bangladesh team at this critical juncture in their digitization journey, where the entire country is on the cusp of becoming a regional hub for commerce.”
“In Bangladesh we currently operate out of 19 branches across a country of 164 million people,” Najith Meewanage, CEO Commercial Bank Bangladesh. “The digital banking platform will enable us to reach more potential customers without having them visit a branch in person. It will also allow us to roll out new services to our customers fast and ensure a better customer experience.”
Commercial Bank Bangladesh has been rated AAA for 11 consecutive years by CRISL (a renowned rating agency in Bangladesh). It has also received two awards as the “Best foreign bank in Bangladesh” by two UK based rating agencies, Global Business Outlook Awards and Global Economics Ltd, and "Most Sustainable Bank in Bangladesh" from Dubai based International Business Magazine Awards in 2021, an indication of the bank’s sustainable and stable growth in the last few years.
Vivo Rewind 2021 – Another Blockbuster Year For The Global Smartphone Brand
With a variety of product launches, improved customer service, a global footprint, successful events, and increased sales, Vivo, has emerged as a global leading smartphone maker and has had another successful year in Sri Lanka. According to Canalys, Vivo ranked fourth in the global smartphone market.
Let's look back at all of Vivo's accomplishments this year, as we look forward to a much bigger and successful 2022.
Expanded the Product Portfolio
This year Vivo expanded its portfolio at an astounding level. It introduced two smartphones in the V series - the V21 5G with a 44MP OIS Night Selfie System and the V21e with a 44MP Eye Autofocus Technology. In addition to this, the brand also launched the Y1s, Y12s, Y51 and Y53s with stellar features at great price points, as part of the Y series portfolio.
Self-Designed Imaging chipset V1
V1, a fully customized integrated circuit chip dedicated to imaging and video applications with leading-edge visual quality, was unveiled by Vivo. The Imaging Chip V1 meets user needs by optimizing smartphone application scenarios such as viewfinder look and video recording, in accordance with vivo's imaging system design.
Second Fastest Growing 5G Smartphone Brand
In Q1 2021, Vivo became the second-fastest growing 5G smartphone brand in the world, with 19 million units shipped, up by 62 percent from the previous quarter. vivo continues to focus on innovations and breakthroughs in the 5G mobile experience.
CSR Activities under the initiative #vivocares
vivo also undertook two community benefit activities in Sri Lanka under the initiative #vivocares. The first one involved distributing a smartboard to Olcott Maha Vidyalaya in Galle to ensure that 1200 children get an equal digitalised learning opportunity during the ongoing pandemic. For the second activity, vivo provided special donations including bags and stationery items to 150 underprivileged children in Getaheththa Tamil Vidyalaya of Rathnapura district.
EURO Partnership - “To Beautiful Moments” Campaign
vivo became one of the presenting sponsors at EURO and debuted its “To Beautiful Moments” campaign – a platform that encourages and enables fans to be in the moment with friends and family.
Innovation in 5G Technology
vivo is navigating towards large-scale 5G adoption making 5G devices ever more accessible and affordable and has released over 20 models of 5G devices globally. vivo submitted over 5,000 5G proposals to the 3GPP, leading to 15 technical features and getting three technical projects approved. Vivo holds over 3,000 patents for 5G inventions and ranks top 8 in terms of the company’s impact within 3GPP.
Partnership with National Geography – VISION+ Mobile Photo Awards
Vivo teamed with National Geography for the second time and launched the VISION+ Mobile Photo Awards. vivo has worked actively to inspire more people to embrace the joys of creation and to accelerate the development of mobile imaging.
Avurudu Festive Campaign
vivo launched a special campaign "Avurudhu Wasi" during the Sinhala and Tamil New Year in Sri Lanka. During this campaign, Vivo offered its customers a chance to win special prizes like Vivo gift boxes and other exciting items on the purchase of exclusive Vivo smartphones.
Daraz Consumer Promotions
vivo partnered with Daraz.lk, Sri Lanka's no. 1 and largest online marketplace to shower their customers with rewards and special gifts and became one of its Diamond partners. Customers were able to win exciting prizes on the purchase of an exclusive Vivo smartphone and the V and Y series.
vivo’s 4th Anniversary
vivo recently celebrated its 4th Anniversary in Sri Lanka and thanked all partners, employees, suppliers, distributors and consumers for their constant support and love. In this constant quest towards technology, Vivo has made some spectacular achievements this year by becoming one of the top-selling smartphone brands in the country, while expanding to 2000+ robust retail store networks and 2 exclusive service centres that offer premium aftercare service.
The brand also made solid partnerships with some key industry players including Abans, Singhagiri, Dialog Axiata PLC and SLT-Mobitel with an aim to serve the Sri Lankan consumers to their full potential.
After another successful year, Vivo is all set to push the limits and achieve greater heights in 2022. We're excited to see what Vivo has in store for us next year!
'Tutopiya' provides Sri Lankan tutors with global opportunities
Over 300 Sri Lankan tutors currently benefit from Tutopiya’s online tuition platform
Significant advantage for Tutors to work from home by choosing flexible hours while earning above market rates
With more than 90% of female tutors, Tutopiya provides work-life balance and financial independence by empowering women
Tutopiya, a Singapore-based edtech platform, announced the official launch of its tutor recruitment drive in Sri Lanka. This drive comes at a time when online tuition is necessary amidst the pandemic and social distancing measures across the globe.
Tutopiya works with a network of experienced tutors to bring online tuition to students at home. Tutopiya specialises in teaching international school students from grades 1-12 focusing on the IGCSE and A levels by Cambridge & Pearson Edexcel Examination Boards and the International Baccalaureate (IB).
Nuha Ghouse, CEO of Tutopiya said, “We are excited to launch our tutor recruitment campaign in Sri Lanka and have already seen a lot of interest from tutors looking for global teaching opportunities which are not disrupted by the COVID-19 pandemic. We want to offer students access to quality online education, which is crucial at this point, so we have one of the largest and thoroughly vetted active databases of quality teachers to ensure we provide the highest standard of online tuition.”
A growing interest in global online teaching opportunities
Developed and honed in-house over a three year period, Tutopiya’s proudly owns its advanced web-based platform and mobile app which completely equips tutors to offer a high quality online learning experience with absolute convenience in lesson scheduling, joining and teaching. In addition, tutors are provided with teaching resources and ongoing continuous training and webinar series to ensure the tutors are fully supported and up-to-date with the latest international curricula and the best online teaching techniques.
Tutopiya’s faculty of internationally-qualified subject specialist teachers ensure the students have access to advanced standards of knowledge and skills for every subject offered. Tutors are selectively and privately screened to ensure that they provide students with the best education possible.
Private live and interactive lessons without leaving home
Through Tutopiya’s advanced mobile app and web-based platform, students and teachers have a range of features that provide a complete solution for online learning - live lessons, practice
assignments, progress tracking, feedback, lesson recordings, to name a few. This makes online learning most effective, efficient and best of all, convenient.
Becoming a Tutor with Tutopiya
If you are someone who is passionate about teaching and would like to work with students from different parts of the world, visit www.tutopiya.com and submit your online application under the ‘become a tutor’ section. https://www.tutopiya.com/become-a-tutor/
Traditionally, students who enroll in tuition outside of school have to travel to their tutor’s homes or vice versa. However, with more restrictions due to the COVID-19 pandemic, this is not a viable option for many.
By removing the physical barrier, learners and tutors will have more opportunities and chances for exploring new and qualified educators. Tutors can gain a better understanding of each student through one-on-one time. Through this communication, tutors can deliver customised lessons that suit their individual needs and learning styles for the best outcomes.
Luminex - Driving innovation in engineering
Leading the field of Telecommunication Infrastructure development, Electrical Engineering Low Tension (LT) and High Tension (HT), Luminex Limited has been powering the nation with innovations in technology since 1986. Sri Lanka’s engineering prowess and spearheading of telecom technology in the region has been noteworthy over the past three decades and Luminex has been a prominent player in the industry. Buoyed by its success within Sri Lanka, it is exploring opportunities overseas and plans to expand to the Middle East in the near future.
Ruwan Fernando – Managing Director of Luminex comments: “Luminex has been at the forefront in the fields of telecom, electrical engineering projects in the country which have been recognized with awards and accolades. The success of the organization through the years has been its ability to deliver high-quality products and services in a customized and trustworthy manner. This takes us closer to achieving our vision, to be among the top 10 most preferred for reliability in Total Construction Solutions Providers in Sri Lanka while maintaining a topmost position in the Telecommunication & Electrical Fields.”
The company’s project and service portfolio encompass telecommunications, electrical engineering, civil and water projects. Luminex is one of the specialists in Telecommunication Outside Plant Construction. The company is geared to handle any type of technology used in the industry. Sri Lanka Telecom is a key client, that Luminex has served continuously since 1997 to date. Within the last 10 years, the company has completed and handed over more than 850 telecom engineering projects. The range of services includes comprehensive surveying, feasibility studies, laying of Fiber Optic Cables both aerial and underground, by using Modern Technology, Optical Fiber Splicing and Jointing and developing all types of telecoms outside plants.
In addition, the company has also worked with leading telecom operator, Dialog since 2008. Luminex specializes in laying of Fiber Optic Cables by using trenchless technology, Horizontal Directional Drilling (HDD) and state-of-the-art machinery such as Micro Trenching & high-pressure cable blowing in order to keep up with new developments in this rapidly advancing industry. Luminex closely networks with international organizations and forums, which helps to identify, innovate and initiate pioneering products and services. The Company has been graded as EM1, the highest category in Construction Industry Development Authority (CIDA). It has also obtained the ISO 9001: 2015 Quality Management Certification awarded by DET NORSKE VERITAS (DNV).
Luminex occupies its own spacious office premises in the heart of Moratuwa Town and has since expanded to 8 Area Offices in the cities of Colombo, Kalutara, Galle, Matara, Kurunegala, Chilaw, Negombo, Jaffna and suburbs, which cover contracts offered by the Sri Lanka Telecom, Dialog and other Telecom operators. In order to support its activities, the Company possesses a complete fleet of projects vehicles, modern plant & machinery, tools & equipment, office premises and storage facilities in warehouses and sub-area stores.
Adding further Upul Lekamge – Director & CEO, of Luminex Limited, said, “Luminex’s has completed electrical projects in landmark buildings including Sethsiripaya stage II, Suhurupaya and Defense Head Quarters Complex. Future growth prospects look promising as the company expects to grow business volumes in all key industry segments including water supply projects. As the government focus on continued infrastructures investments in spite of the pandemic and low-interest scenario is expected to create an environment conducive for revenue growth”.
Moreover, the company is on a path of diversification of revenue, international expansion, while staying with technology. As a start, the company expects to have a fully operational presence in Telecom and Electrical engineering in the Middle East in the foreseeable future.
The Company’s growth is ably supported by a qualified team comprising of chartered engineers B.Sc. qualified engineers, chartered accountants, degree holders and other professionals. The culture of continuous local and overseas training ensures efficiency and a knowledgeable workforce. Luminex has established healthy relationships with subcontractors over the past 35 years and today has over 60 subcontractors supporting all its business segments.
Celebrate the season in style with Vision Care’s latest
Vision Care, Sri Lanka’s pioneering eye care solutions provider, promises to make this season special by offering the most delightful seasonal gifts for you and your loved ones at the best affordable prices. In its promotion, Vision Care is offering an attractive 20% discount on sunglasses, making it a great holiday gift for all your nearest and dearest this festive season. Valid from 11th to 31st December 2021, customers can visit its showrooms island-wide to avail of reasonably priced, branded eyewear in a wide variety of shapes, colours and designs.
Vision Care maintains a vast array of designer brands representing different styles and colours, backed by the expertise of its highly trained staff. From tinted glasses to chic shades and everything in-between, Vision Care’s eyewear for men and women includes designer brands such as Ray Ban, Vogue, Emporio Armani, Polaroid, Vintage, Polarsun, Carrera, Michael Kors, Prada, Bvlgari, Coach, Oakley Gucci and Porsche. Top brands from the Milan-based Luxottica Group, the largest eyewear company in the world, having a brand portfolio that counts many proprietary and prestigious licensed brands, are also available for the brand conscious looking to make an impression this season.
HSBC EDPL relocates to Mireka Tower
HSBC Electronic Data Processing Lanka (Pvt) Ltd (HSBC EDPL) is poised to relocate from Rajagiriya to Havelock City’s Grade-A office space, Mireka Tower. The highly anticipated office tower is set to open in mid-2022 and its opening has been further bolstered by the announcement of HSBC EDPL as its latest tenant.
HSBC EDPL consolidated the move by signing a lease agreement with Havelock City (Pvt) Ltd on 13 December 2021. HSBC EDPL will occupy eight floors within the coveted office space in Havelock City, which is lauded as one of Colombo’s most sought-after locations for work.
HSBC EDPL is one of HSBC’s key Global Service Centers (GSC) which operates from only eight countries, including Sri Lanka. It forms an integral part of HSBC Global Operations underscoring the importance of Sri Lanka to the world – from its office in Sri Lanka, HSBC EDPL’s employees deliver high quality financial and professional services for international clients around the world.
Commenting on Mireka Tower’s newest high-profile occupant, Pravir Samarasinghe, Chief Executive Officer at Overseas Realty said, “HSBC EDPL’s relocation from its existing office in Rajagiriya to Mireka Tower is a validation of the building’s high-end specifications and compliance with stringent international health and safety standards required by premium multinationals. It is an endorsement of Overseas Realty as a landlord reputed for its expertise in catering to the requirements of corporates with wide and complex local and international specifications for their office space and to the needs of their employees. Further, the move is also a marker of the centrality and ease of access of Mireka Tower’s location within the city. Mireka Tower’s design reconceptualises the contemporary office space. It prioritizes quality infrastructure and amenities and comes primed with unique features. We’re very pleased to welcome the HSBC EDPL Centre to Mireka Tower.”
With an exclusive corporate address, the distinctive 50-storey Mireka Tower features Grade-A premium and energy efficient office spaces built to the highest construction standards. The tower is a key focal point in the highly anticipated 18-acre Havelock City mixed-use development project. Occupants of the tower will be able to innovate, strategize and sculpt the businesses of Sri Lanka’s commercial future in expansive, column-free, and light-filled offices that offer spectacular cityscape views.
The office tower is adjacent to the Havelock City Shopping Mall providing easy access to medical, banking, and telecommunication services, as well as a variety of retail and food and beverage options. Commuters can access the building via bus and the proposed LRT stations, with the additional advantage of two basement levels of parking with over 800 vehicle spaces.
Mireka Tower is developed by Mireka Capital Land (Pvt) Ltd, a fully owned subsidiary of Overseas Realty (Ceylon) PLC, the owner, manager, and developer of the iconic World Trade Center Colombo. With over 20 years of successfully managing the World Trade Center in Colombo, Overseas Realty brings extensive expertise, domain knowledge and experience to its real estate developments, providing the highest standards of design, build quality, facilities and services.
Spikes Asia Announces Full Jury Line-Up for 2022
The Juries will judge work in 24 awards categories to set the region’s benchmark in creative excellence and marketing effectiveness
Spikes Asia has today announced the full jury line-up of industry leaders set to judge the Spikes Asia Awards, Asia Pacific’s most prestigious creative communications accolade.
Now in its 35th edition, the Spikes Asia awards will bring 106 jurors together to judge work in 24 awards categories, including new awards developed in response to the region’s shifting creative trends: The Creative Data Spike, the Social & Influencer Spike, and the incorporation of the Tangram Awards to form the new Strategy & Effectiveness Spike. In 2022, the awards will set the definitive benchmark for not only creative excellence but also marketing strategy and effectiveness in Asia-Pacific for the first time.
Philip Thomas, Chairman, Spikes Asia, said, “This formidable line-up of jury members represents the dynamism and diversity of the APAC creative community and the evolution of the Spikes Asia Awards. 2022 is an exciting year for Spikes Asia. The number of Spikes Award categories have been refreshed and expanded and the new Strategy & Effectiveness Spike recognises the vital link between creativity and marketing effectiveness.”
The jury members represent locations across APAC, including Bangladesh, China, Japan, New Zealand and South Korea, across a wide range of creative industry disciplines and backgrounds.
The juries will convene remotely to judge the work in February 2022 and the Spikes Asia Awards Grands Prix and Special Awards winners will be announced in March 2022. ‘Spikes Asia x Campaign Asia: The Experience’ is also set to return from 1-3 March 2022.
The jurors are announced as follows:
Brand Experience & Activation, Creative eCommerce Jury
Jury President - Natalie Lam, Chief Creative Officer, Publicis Groupe, APAC, MEA
Eugene Cheong, Chief Creative Officer, DDB, APAC
Nicolas Courant, Chief Creative Officer, Ogilvy, Singapore
Takahiro Hosoda, Executive Creative Director, TBWA\HAKUHODO, Japan
Jesse Wong, Creative Director, GREYnJ UNITED, Thailand
Aalap Desai, National Creative Director, Isobar, India
Ettie Hsieh, Senior Creative Director, Havas, China
Prue Jones, Design and Creative Director, Fjord, Australia
Creative Effectiveness Jury
Jury President - Michaela Lyon, Integrated Client Lead, dentsu, APAC
Justin Hind, CEO, CHE Proximity, Australia
Richard McCabe, Chief Strategy Officer APAC, McCann Worldgroup, Singapore
Arindam Bhattacharyya, Chief Strategy Officer - Media and Performance, APAC, dentsu, Indonesia
Michi Muramoto, Department Director of Experience Solution Unit, Experience Design Center, ADK Marketing Solutions Inc., Japan
Prem Sundar Narayan, Chief Strategy Officer, Ogilvy & Mather, India
Amrita Randhawa, CEO, Publicis Groupe, Southeast Asia, Singapore
Design, Industry Craft Jury
Jury President - Paul Chan, Chief Creative Officer, Cheil Worldwide, Hong Kong
Nicholas Adamovich, Head of Design, HostHavas, Australia
Kimiko Sekido, Art Director, Dentsu Inc., Japan
Nopparath Eksuwancharoen, Creative Director & Head of Art, SOUR Bangkok, Thailand
Paolo Garcia, Groupe Executive Creative Director, Publicis Groupe, Vietnam
I-Fei Chang, Chief Creative Officer, Wunderman Thompson Taipei, Taiwan
Russell Miranda, Creative Consultant, Dentsu Grant, Sri Lanka
Geet Rathi, Design Director & Creative Director, TBWA, India
Direct, Outdoor Jury
Jury President - David Guerrero, Creative Chair, BBDO Guerrero, Philippines
Kenneth Tung, Executive Creative Director, Havas, Hong Kong
Jaiyyanul Huq, Executive Creative Director, Grey, Bangladesh
Sam Choi, Executive Creative Director, Innored, South Korea
Kristal Knight, Creative Director, Saatchi & Saatchi, New Zealand
Garima Khandelwal, Chief Creative Officer, MullenLowe Lintas Group, India
Barbara Humphries, Creative Director, The Monkeys, Australia
Huy Dinh Nguyen, Creative Director, Circus Digital, Vietnam
Entertainment, Music Jury
Jury President - Kazoo Sato, Chief Creative Officer, TBWA\Hakuhodo, Japan
Jia Ying Goh, Strategist, Product Creative Studio, Netflix, Singapore
Karla Henwood, Executive Creative Producer, Squeak E. Clean Studios, Australia
Dew Intapunya, Chief Content Officer, Ensemble, IPG Mediabrands, Thailand
Hamza Amjad, Senior Creative Director, Ogilvy Pakistan
Patrick Tom, Director, Creative, Walt Disney Company, Hong Kong
Janice Jose, Senior Regional Director, UMG for Brands, Universal Music Group, Singapore
Sushant Sreeram, Director – Marketing, Amazon Prime Video, India
Film Craft Jury
Jury President - Sneha Iype, Partner, Executive Producer, Nirvana Films, India
Wuthisak Anarnkaporn, Film Director / Founder, Factory01, Thailand
Cinnamon Darvall, National Head of Broadcast Production, HERO, Australia
Jo Motoyo, Film Director, TOKYO / TAIYO KIKAKU, Japan
Frances Cooke, Creative Director, Clemenger BBDO Wellington, New Zealand
Laura Geagea, Managing Director, China, Asia + MENA, Sweetshop, China
Firrdaus Yusoff, Creative, Forsman & Bodenfors, Singapore
Film, Print & Publishing, Radio & Audio Jury
Jury President - Paul Nagy, Chief Creative Officer, VMLY&R AUNZ, Australia
Masaya Asai, Chief Creative Officer, Droga5 Tokyo, Japan
Andrew Hook, Executive Creative Director, APAC, VCCP, Singapore
Veradis Vinyaratn, Chief Creative Officer, TBWA\Thailand, Thailand
Jonathan McMahon, Executive Creative Director, Special Group, New Zealand
Dennis Kung, Creative Director, Wieden + Kennedy, China
Nicoletta Stefanidou, Chief Creative Officer, Tinker Tailor, Hong Kong
Swati Bhattacharya, Creative Chairperson, FCB, India
Kat Gomez-Limchoc, Executive Creative Director, Blackpencil Manila, Philippines
Jury President - Wendy Chan, Chief Creative Officer, Edelman, China
Shunsuke Kakinami, Executive Creative Director, McCann Health, Japan
Vaishali Iyer, Country Head Communications & Patient Engagement and CSR, Novartis, India
Kieran Moroney, Creative Director, VMLY&R, Australia
Gary Steele, Chief Creative Officer, DDB New Zealand, New Zealand
Innovation, Creative Data Jury
Jury President - Emad Tahtouh, Principal - Creative Technology, Deloitte, Australia
Simon Brock, Executive Creative Director, Digitas ANZ, Australia
Yusuke Miyabe, Executive Manager, Global Digital Business Development, Group 1, Hakuhodo, Japan
Dante Abelarde, Executive Creative Director, MRM, Singapore
Christina Lu, Global CMO, AliExpress, Alibaba Group, China
Jane Stanley, CEO, Heart&Science, New Zealand
Parattajariya Jalayanateja, Managing Director, Wunderman Thompson, Thailand
Jury President - Kasper Aakerlund, Regional President, UM APAC, Singapore
Jacqui Lim, CEO, Havas Media Group, Singapore
Minhee Kang, Global Media Director, Innocean Worldwide, South Korea
Rupert McPetrie, CEO, Greater China, MediaCom, China
Aimee Buchanan, CEO GroupM ANZ, GroupM Communications, Australia
Divya Karani, South Asia Chief Executive Officer, dentsu Media, India
Sapna Nemani, Chief Product & Solutions Officer, APAC, Publicis Groupe, Singapore
James Hawkins, Chief Executive Officer, Asia Pacific, PHD Media, Singapore
Sian Whitnall, Co-Chief Executive Officer, OMD, Australia
Mobile, Digital Craft Jury
Jury President - Jean Lin, Executive Officer, Dentsu Group Inc., Global
Ryutaro Seki, Creative Director, Google, Japan
Josephine Lin, Group Creative Director, Unisurf Digital Marketing, Taiwan
Tay Guan Hin, Chief Creative Officer, BBDO, Singapore
Claire Waring, Executive Creative Director, R/GA, Australia
Kelly Pon, Chief Creative Officer, BBH, China
Yun Jeong, Jang, Global Creative Director, integrated Retail & Digital, Cheil Worldwide, South Korea
Park Wannasiri, Chief Creative Officer, Wunderman Thompson, Thailand
Jury President - Shouvik Prasanna Mukherjee, Chief Creative Officer, Asia Pacific, Golin, Singapore
Tom Sanders, Creative Director, ANZ, Herd MSL, Australia
Tiffany Hu, Managing Partner, PR, Ogilvy Shanghai, China
Kenny Yap, Managing Director, Red Havas, Singapore
Maiya Kinoshita, PR Planner & Copywriter, Dentsu, Japan
Sunaina Jairath, Communication @ Cred, Cred, India
Shafaat Hussain, Managing Director, Omnicom PR, Singapore
Social & Influencer Jury
Jury President - Tea Uglow, IC, Creative Lab, Google, Australia
Graham Drew, Chief Creative Officer, Grey, Malaysia
Akae Wang, Executive Creative Director, Tencent, China
Jax Jung, Global Creative Director, Cheil Worldwide, South Korea
William Beale, Associate Creative Director, APAC, VaynerMedia, Singapore
Pei Ling Ho, Global Creative Director, Creative Works, Google, Singapore
Satoshi Chikayama, Executive Creative Director, TBWA\HAKUHODO, Japan
Teeny Gonzales, CEO, Seven A.D., Philippines
Strategy & Effectiveness Jury
Jury President - Anupama Biswas, Senior Director, Analytics & Insight - APAC Lead, The Coca-Cola Company, Singapore
Ayu Sasaki, Creative Director, Dentsu, Japan
Seung Eun Jang, CEO, Overman, South Korea
Chris Colter, Chief Strategy Officer, Initiative, Australia
Priya Patel, Group CEO, DDB Group Aotearoa, New Zealand
Anil K Nair, CEO, VMLY&R, India
Sindhuja Rai, Global Media Investment and AMEA CX Lead, Mondelez International, Singapore
Exclusive Pelwatte offer at Keells
Pelwatte Dairy Industries welcomes the festive season of Christmas and December with an exclusive partnership with Keells offering their signature Salted Butter at a concessionary discount of 15% off from the 01st to the 31st December 2021.
Commenting on the offer, Chaminda Pathirana – Channel Manager, Modern Trade said, “Its that season when Kitchens will be full of laughter and excitement and a time where families, friends and communities get together and divulge the food; and Pelwatte is humbled to give them the opportunity to indulge into their product of choice.”
Pelwatte butter is produced using the fat from locally sourced milk, is high in nutrients and healthy as well; the butter is made from the fat in fresh milk with no added preservatives. Fresh milk contains about 84 % fat and the process of butter production tends to increase the fat percentage so in order to control the fat percentage a standardization process is used which is also another reason as to why Pelwatte Butter is considered all-natural. They are manufactured to the highest quality standards and have no artificial preservatives added to extend shelf life.
Pelwatte Dairy has always aimed to supply the country's domestic milk demand while also improving the socioeconomic position of local dairy farmers. While maintaining the country's milk self-sufficiency remains the major goal, Pelwatte Dairy helps farmers, their livelihoods, and their families in a variety of ways, empowering them and driving their own, as well as the country's prosperity.
Eswaran Brothers completes Sri Lanka’s first-ever electronic Bill of Lading
The electronic Bill of Lading (eBL) facilitated by the blockchain underpinned TradeLens platform spurs innovation by digitalizing manual, time-consuming, paper-based shipping and logistics processes, while also contributing towards greater ease of doing business across supply chains for all involved stakeholders
Eswaran Brothers Exports, one of Sri Lanka’s premier tea suppliers for over five decades, became the first exporter out of the country to adopt eBL from TradeLens, a digital supply chain platform underpinned with blockchain technology that allows electronic issuance, transfer, and surrender of original bills of lading.
Eswaran Brothers’ initiative to adopt TradeLens eBL comes at the time when the Digital Ministry of Sri Lanka is building and implementing a holistic strategy to address all pillars of digital transformation. The strategy includes a cluster of digitisation projects and organisations that have come together to unlock the potential of new technologies for economic growth and the overall betterment of society. One such project, which TradeLens is also involved in, is the instillation of a data integration solution called ASYHUB, currently developed by UNCTAD, which allows for the smooth exchange of cargo data between the customs IT system, ASYCUDA, and multiple trade data providers. The Ministry has immensely supported Maersk’s drive to promote the use of TradeLens eBL and other digital solutions in the country.
Hon. Minister Namal Rajapaksa - Minister of Youth and Sports & State Minister of Digital Technology and Enterprise Development of Sri Lanka, congratulated Eswaran Brothers, Maersk and TradeLens teams on the completion of the first eBL in Sri Lanka by saying, “We believe digitalization is the cornerstone of operational efficiency for our business stakeholders across supply chains. The collaboration of Sri Lanka’s traders and other stakeholders in the supply chains with TradeLens is a very important step in strengthening this digital agenda and staying ahead of the curve when it comes to digital transformation. We are excited to be a part of this digital journey, that TradeLens offers the Sri Lankan shipping and logistics industry.”
“As we cater to markets in over 52 countries, we realized digitization is the key to streamline our business easily across the global supply chain. With the TradeLens eBL, we’ve digitized our manual paper-based processes. This has helped to reduce errors, improve security, and have mitigated chances of any additional costs. We are also able to offer superior customer service. We are very pleased to partner with Maersk for TradeLens’ simple and straightforward eBLs.” Subramaniam Eassuwaren - Vice Chairman, Eswaran Brothers Exports.
TradeLens is a carrier-neutral, blockchain-enabled digital supply chain platform, jointly developed by Maersk and IBM. The solutions offered by TradeLens are accelerating the digitisation agenda of the supply chain industry around the world by transforming manual, paper-based and time-consuming administrative processes into digital ones. TradeLens allows an original bill of lading to be digitally issued and moved electronically through its journey with all the stakeholders. This not only reduces the hassles of sending physical papers from one stakeholder to the other through a courier process, but also eliminates the possibilities of documents getting lost or forged and eliminates all sorts of inefficiencies from manual processes.
"At Maersk, we are constantly working towards connecting and simplifying our customers’ supply chains. This means that we cover every aspect of the integrated container logistics solutions that we are offering in the market. TradeLens has brought to table solutions that will delight our customers with ease of doing business, visibility, speed, and safe & secure digital solution that will create value for them,” said Siddharth Iyer - Country Manager, Maersk Sri Lanka and Maldives.
Apart from issuing eBL, TradeLens members can use the platform to connect within the logistics ecosystem and share information needed for their shipments based on permissions, without sharing sensitive data. TradeLens makes it possible to access data from the source in near real-time, boosts the quality of information, provides a comprehensive view of data as cargo moves around the world, and helps create a timelier, secured record of transactions. Launched in 2018, the TradeLens ecosystem now includes more than 350 organizations – extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals. It is fully integrated with both SAGT and CICT in Sri Lanka meaning importers and exporters have access to a pre-built supply chain ecosystem. Already the platform has tracked 50 million container shipments, 2.5 billion events and roughly 25 million published documents.
Hon. Minister Namal Rajapaksa - Minister of Youth and Sports & State Minister of Digital Technology and Enterprise Development of Sri Lanka
Subramaniam Eassuwaren - Vice Chairman, Eswaran Brothers Exports.
Siddharth Iyer - Country Manager, Maersk Sri Lanka and the Maldives
The Eswaran Tea logo
Tea Tasting Eswaran Tea
Industry Awards for Amana Takaful
2021 has been a year of awards and well-deserved accolades for Amana Takaful Insurance – one of Sri Lanka’s premier insurance companies with an ardent dedication ‘To Every Sri Lankan As One’!
Winning some of the prestigious awards in the insurance industry this year has rightfully elevated Amana Takaful Insurance to a level playing field in the international arena while symbolising its exceptional resilience, credibility and customer-centricity in the insurance domain.
Amana Takaful Insurance was felicitated with two distinct awards at the esteemed Insurance Asia Awards 2021 which witnessed the participation of over 100 insurance companies from across 25 different countries. Bagging the titles ‘Insurtech Initiative of the Year - Sri Lanka’ and ‘Education Insurance Initiative of the Year - Sri Lanka’, Amana Takaful Life Insurance was recognised as one of Asia’s most outstanding life insurance companies for its innovative initiatives and solutions.
Among the latest additions to the accolades are the titles, ‘Most Innovative Insurance company Sri Lanka 2021’ and ‘Most customer-centric Insurance Provider Sri Lanka 2021’ from the World Business Outlook Awards 2021. The company remains committed to continually evolving and upholding global best practices in insurance, as it forges ahead to provide peace of mind for all Sri Lankans through World-Class Insurance solutions.
Additionally, the Global Economics Awards 2021 bestowed Amana Takaful Insurance with the ‘Fastest Growing Insurance Company – Sri Lanka 2021’ award – a true testament to the company’s outstanding growth and credibility, especially over the past few quarters across 2020 and 2021. The Global Economics Awards programme recognises the best market players from around the globe and serves as the epitome of trust and credibility of its recipients, which is what makes this such a substantial win for Amana Takaful Insurance.
The homegrown insurance company brought in further laurels by clinching three more accolades at the International Business Magazine’s 2021 Awards. Amana Takaful Insurance was recognised as the ‘Best Takaful Insurance Provider 2021’, while simultaneously being awarded for ‘Most Innovative Insurance Product Portfolio 2021’ and ‘Best Insurance Customer Satisfaction Award 2021’ in the Asia category.
These truly noteworthy accomplishments showcase Amana Takaful Insurance’s extraordinary potential to influence the Sri Lankan insurance sector, while also recognising the quality excellence of its diversified insurance solutions that cover the many needs of its clients. This further ensdorses the trust that it has successfully cultivated and sustained among its loyal customers – a true measure of its brilliant business ethics.
Commenting on the aforementioned accolades, the company issued a statement: “We are extremely honoured to be bestowed with some of the prestigious awards in the insurance space. Amana Takaful Insurance places a great deal of importance on rigorously adhering to the global ethical standards in insurance and believes that this is an essential and non-negotiable duty. It brings us great joy to be recognised for this commitment on a global scale, and we consider it a true reward for our sincere efforts towards integrity, excellence and responsibility.”
It was further mentioned: “We extend our humble gratitude to our employees – who work tirelessly in delivering nothing short of greatness; our clients and other stakeholders – who place their trust in us with their continued support; and all the aforementioned awards platforms – for presenting us with the opportunity to stay accountable and showcase our calibre alongside our journey of mutuality and solidarity.”
CAL Launches IPO Portal to Empower Investors
Provides investors anytime-anywhere access to subscribe to IPOs managed by CAL
Thursday 21st October, Colombo: Fulfilling its promise to touch people’s lives, Capital Alliance (CAL) is empowering private investors with the chance to capitalize on investment opportunities by subscribing to Initial Public Offerings (IPOs) managed by CAL directly through its newly-launched IPO Portal. CAL’s reputation as Sri Lanka’s leading investment bank has been based on its pursuit of excellence in execution, research and product innovation, and developing a specialization in originating, trading and investing in debt and equity securities over two decades.
Committed to inclusion, the newly-launched digital signature backed Portal allows users to apply online for upcoming IPOs of companies intending to list on the Colombo Stock Exchange (CSE), making the investor bidding processes seamless, paperless, and contactless. CAL’s innovations give confidence to clients that change is necessary to meet the complex evolving needs of the markets – making it the ideal cutting-edge partner on the investment journey, be it a first-time or a veteran investor.
“CAL’s Investment Banking arm has a well-established position of market leadership in Initial Public Offerings, accruing expertise and experience that enabled us to streamline the process onto a widely accessible digital platform,” commented Vishnu Balachandran - Head of Investment Banking at Capital Alliance.
“With the IPO Portal, we are helping clients reimagine their IPO process, offering a wider investor reach to corporates seeking to raise capital in this new, increasingly contactless world”, he further added.
The IPO Portal, the latest feature to be added to the company’s continuously expanding digital investment platform, ensures easy access and convenience for investors. Backed by digital signature technology for elevated authentication and security, registered users will also be able to receive notifications on future IPOs announced by CAL to better capitalize on investment opportunities.
“CAL continues to expand our contactless, secure and seamless digital investment ecosystem, addressing online security concerns, and utilizing our capabilities to assist and better serve our customers in this post-pandemic trading environment,” Tharindra Kulasinghe - Chief Information Officer at Capital Alliance stated. “We are excited to open our digital offerings to a wider audience, as we witness a surge of retail participation in capital markets and we hope this new innovation will encourage more investors to come forward.”
CAL – Sri Lanka’s leading Investment Bank offering integrated investment and capital market solutions – has augmented its portfolio of services to reposition itself as a future-oriented company catering to family-owned businesses, whilst already serving institutional clients and high net worth entrepreneurs.
Interested parties can visit cal.lk/ipo and subscribe to IPOs managed by CAL.
A one-stop medical & cosmetic hair solution by Christell Luxury Wellness
Sri Lanka’s leading aesthetic solution provider, Christell Luxury Wellness has announced the launch of a new venture – “Christell Crown”. The new centre at One Galle Face shopping mall, will exclusively offer a suite of medical and cosmetic solutions to answer every hair and scalp dilemma, including for the first time in Sri Lanka, “AAPE Stem Cell Therapy” for hair growth.
At Christell Crown, clients have access to the latest in equipment and procedures, where medical doctors and highly-trained professionals customize hair treatment plans from a broad range of solutions; including hair & tissue mineral scans, stem cell hair growth therapy, PRP, scalp rejuvenation and circulation boosters, hair growth light therapy, hair and nail VitaDrip® infusions, bio revitalization, Ayurveda scalp and hair treatments, natural hair extensions, scalp micropigmentation, and dandruff and grey hair treatments among many others.
With the introduction of the cutting-edge and non-invasive AAPE® (Advanced Adipose-derived stem cell Protein Extract) treatments in particular, the brand further enhances its extensive portfolio of professional skin, hair, and body treatments by leveraging the regenerative power of stem cells; especially effective in addressing skin and hair conditions such as premature skin ageing and hair loss. For skin cell restoration, the products induce collagen into the skin to maximize the revitalizing effects of the skin rejuvenation. For addressing alopecia or hair loss, the products strengthen and nourish hair follicles and surrounding tissues to make hair regrow.
Developed by the world-renowned dermatologist, Dr. Byung-soon Park, AAPE stem cell therapy for hair and skin maladies is a result of over 17 years of research, proven by multiple published studies. Furthermore, AAPE is the first product based on stem cell described in SCI journals with clinical results in humans, having been conducted on over 600,000 clinical treatments and used by over 3,000 dermatologists in more than 30 countries worldwide.
“At Christell Skin Clinic, we only offer US FDA-approved alternative treatments to invasive dermatological surgeries that would otherwise be painful, have numerous side effects, or are just not as effective in the long term,” said Dr. Shanika Arsecularatne, Medical Director of Christell Skin Clinic. “We are proud to bring many firsts to Sri Lanka and yet again with the launch of Christell Crown, we are excited to be the first to introduce the many possibilities of AAPE, and are certain that as with all of the other products and therapies we have pioneered, this offering too will significantly change the lives of many.”
Founded in 2014 by established aesthetician Prof. Ramani Arsecularatne, the Christell Skin Clinic has over the years offered a personalized and non-invasive approach to dermatology, helping clients get the very best out of their skin, hair, and body. From humble beginnings, the cosmetology centre has expanded its services, reach, and international standing, and now boasts two state-of-the-art facilities in Sri Lanka and the Maldives, with over 50 full-time employees, including specialized cosmetologists, medical doctors, and nursing staff. The centre has served more than 35,000 clients to date, including heads of state, VVIPs, ambassadors, expatriates, and residents.
Hitachi Digital Payment Solutions launches Asia’s first touchless ATM technology
In a first for Asia, Hitachi Digital Payment Solutions (HDPS) has successfully developed a touchless ATM solution which is currently live at Sri Lanka’s Sampath Bank.
Customers can now withdraw cash from an ATM using their personal mobile phone without touching the buttons or surface of the ATM screen. The technology minimizes the need to physically touch ATM surfaces, reducing risk during COVID-19 while also reducing the time spent at the ATM itself.
“With the onset of the Covid-19 pandemic, we knew we needed to develop long term solutions to provide safer alternatives that would help solve the current issues of access and safety faced by banks and their customers. The goal was to create a solution that utilized existing technology and services for a fast and cost-effective rollout. By creating a solution that used a consumer’s personal mobile device and the bank’s existing ATM technology, we were able to achieve just this,” said Dinesh Rodrigo, CEO, HDPS. “The process is now faster, and people spend less time at ATMs to access their funds. Importantly, it is also designed with an eye on flexibility without compromising on security.”
While globally there is a move towards cashless transactions given the prevalent health risks, there are still large segments of people, particularly in Asia for whom such access is limited. Here ATM cash withdrawals and deposits (along with in branch banking) remain the mainstay of financial transactions. At the same time, phone and smartphone penetration in these regions remain high, making the mobile phone driven touchless ATM application an ideal solution that addresses market realities.
The technology that runs the touchless ATMs follows all regulatory and security standards. It requires customer presence and uses session specific encrypted information, ensuring safety. Further, the use of the bank’s mobile application validates users’ credentials and biometrics. Crucially for banks there is no need to change or upgrade existing ATM hardware ensuring no added capital expenses.
“The robust and agile technology which guides this has scope for more applications. We expect to further extend the offerings by facilitating deposits using CRM terminals. We are also working to further streamline the processes by reducing the average per-transaction time taken at the ATM/CRM machines. We are also in the process of exploring avenues to possibly cater to the unbanked population of Sri Lanka and Asia as well. HDPS intends to actively promote this service to our existing customers within the AP region to provide them an edge over their competition,” explained Masaya Okita, CMO, HDPS.
The touchless ATMs utilise the Hitachi ibSuite™- eWallet solution as well as the Hitachi ibSuite™ – Self Service solution. HDPS has a reputation for providing customers with cutting edge and first in the world solutions, enabling them to stay ahead of their competition and provide exceptional, personalised customer solutions without compromising on transaction integrity and security.
Globally, payment regulators are amending their service offerings in light of the coronavirus and a heightened need to carry out transactions securely while ensuring the safety of employees and customers. HDPS’s innovative product serves as a welcome impetus to this growing shift.
Cargills among 'Most Admired Companies' 2nd year running
Wednesday 6th October 2021, Colombo: Cargills is humbled to have been selected as one of the Top 10 Most Admired Companies of Sri Lanka by CIMA, ICCSL and the Daily FT, for the second consecutive year. This recognition is a testament to the resilience of the Cargills business model in the face of the pandemic, as we continued to grow by placing the needs of the community first. Our philosophy has always been based on the belief that by focusing on community development, the balance sheet looks after itself.
As an essential service provider and a leading food company, we continued to meet the needs of the consumers during the pandemic. Our reach and impact went beyond serving our consumers. At a time when many farmers across the country were left without a marketplace, we provided a guaranteed market for thousands of farmers and supported their livelihoods. At the same time, we ensured that not a single ounce of milk went to waste as we increased our fresh milk collection rate to 180,000 liters per day. During the 2020/21 Financial Year alone, Cargills generated direct income over Rs. 9 Bn to the dairy and agriculture farming community in Sri Lanka.
Realizing the challenges faced by small entrepreneurs in the aftermath of the first lockdown last year, we launched an initiative called ‘Village to Home’ in September 2020, with a vision to provide local entrepreneurs a platform to engage with a larger market. In addition to supporting them with packaging, marketing, and quality assurance, the Cargills Bank provides low-cost financing to help increase their capacity.
Supporting the economy
By sourcing most of our raw materials locally and producing value-added consumer foods that compete with global brands, Cargills plays an important role in saving foreign exchange for the country. Our food brands have become leading national brands due to our focus on quality and innovation.
In spite of the challenging operating environment that prevailed during the last 18 months, Cargills continued to make investments across all business verticals and across the country. In total, the Cargills Group made Rs. 6.4 Bn in capital investments during the 2020/21 Financial Year. It reflects our belief in Sri Lanka and her ability to overcome the current challenges and rise again stronger as we have done before. As a leading Sri Lankan corporate, Cargills stands ready to continue our investments, impacting community development and driving value for all stakeholders.
Our team is our strength
This recognition was only possible due to the Cargills team, who continue to serve the needs of the community even during the most challenging of times. During the pandemic, our primary duty was to protect our team and ensure their emotional, physical, and financial well-being. In addition to providing the necessary support and building the confidence of the team, we have also taken steps to ensure our team is vaccinated. Over 98% of the Cargills team which consists of over 12,000 members have been vaccinated to date.
Our farmers and suppliers played a pivotal role in helping us meet the consumers’ needs. We would like to thank them and assure them that Cargills will stand by our partners at all times. Our sincere appreciation to our consumers, who continue to support and believe in us. As one of the oldest and most trusted companies in the country with a heritage of 177 years, Cargills will continue to stay true to its core values of providing affordable nutrition and serving our communities across Sri Lanka.
CAL a preferred employer with ‘Great Place to Work’ certification
Sri Lanka’s leading Investment Bank offering integrated capital market and investment solutions, Capital Alliance Holdings (CAL), has been certified as a ‘Great Place to Work’ in an independent and anonymous survey conducted by Great Place to Work®. Affirming the Group’s human capital policies, CAL received an ‘A’ grade assessment on the staff trust index and the culture audit metrics to measure its people practices Great Place to Work®, is the global authority on workplace culture, employee experience, and leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation. With their team at the heart of everything they do, CAL continuously has a pulse on its team to ensure that it is a great place to work. The Group’s core values of Integrity, Fairness, Dynamism and Teamwork reflect the emphasis it places on ensuring a contented and productive workforce.
Commenting on the certification, Rochelle Mortier - Chief Human Resources Officer, Capital Alliance said, “The success that CAL has achieved over 20 years in the industry has been driven by its people, reputed to be the industry-best. We are delighted to be certified as a Great Place to Work on the basis of an independent study on the critical pillars of staff trust and employee experience. In the fast-moving industry in which we operate, it is critical that we retain and reward our employees by ensuring a fulfilling workplace culture that celebrates their achievements while supporting them to realize their potential. CAL remains dedicated to investing in its human capital and sustain a superior employee experience.”
CAL which has an enviable workplace culture of employees who are nurtured as one family. The company has a refreshing approach to developing its people, thereby helping build an incredible team of professionals who understand the value of maintaining CAL’s impeccable reputation to reach new heights.
TRI-ZEN reports 45% completion
A combination of attractive interest rates and the launch of real estate-focused financial products is leading a trend towards investing in apartments, according to John Keells Holdings Vice President, Head of Sales and Marketing (Property Group), Nadeem Shums.
Sri Lanka’s financial sector has reached a phase of low-interest rates - for fixed income products and housing loans. Together with strong underlying demand for condominium properties, the developer reported a surge in demand from investors on the lookout for stable, high yielding investments.
“Despite the challenges arising from the pandemic, the real-estate sector has continued to perform well. We have also made steady progress on construction with the towers ascending to the 39th floor. You can now start to see TRI-ZEN taking shape and transforming Colombo’s skyline,” Shums stated.
He added that with increased urbanisation more Sri Lankans are seeking a new standard in the convenience offered by properties like TRI-ZEN because of the central location, superior amenities, and attractive rupee pricing. “This is where our competitive pricing, relative to other metropolitan developments, proves to be particularly attractive. Especially with increased construction costs and land costs, the value of such condominium properties will continue to appreciate.”
In order to offer aspiring homeowners greater financial flexibility, JKP announced a slew of partnerships with some of Sri Lanka’s leading banks for its ground-breaking ‘Freedom Mortgage Package’. By providing customers a two-year interest free period on their mortgage, it requires customers to only pay 20% now and nothing more for the next two years. Customers can enjoy a payment free period of two years, after which the interest payments begin, and the capital repayments are made three years thereafter.
Interest rates are attractive, from just 7% per annum, and homeowners have the choice of a suite of mortgage packages with minimal down payment required. With three leading banking partners offering expansive branch networks and excellent customer service embedded within the pioneering mortgage plan, homeowners have the choice of partnering with a financial institution of their choice.
“The response to Freedom Mortgage has been very positive, and it has allowed many investors who, would typically not be in a position to put together large amounts of capital, to finally have a clear path to invest in a project like TRI-ZEN. This is game-changing for those looking either to hold the property as a long-term investment or to simply have a pad in the city for your family,” Shums said.
TRI-ZEN is a joint venture between Indra Traders (Pvt) Ltd and John Keells Holdings PLC, with China State Construction Engineering Corporation Ltd (CSCEC) serving as the main contractor. The three-tower 891-unit apartment project on Colombo’s Union Place will have one, two and three bedroomed apartments, with two-bedroomed apartments starting from just Rs. 36 million.
The complex will have over 35 amenities for a thriving community including green spaces, a jogging track, a swimming pool, fitness and wellness studios, and a games room, providing residents with an integrated living space capable of meeting all their needs, while its central location provides easy access to the heart of Colombo.
SLIM Launches Data-Drive Marketing Professional
Producing Future-Ready Sri Lankan Marketers:
The modern marketer should be two things: Agile and Data-hungry. Today, consumers have become extremely picky about the products they buy and the messages they choose to read. In response, marketers have to curate personalised messages to approach various customer segments, which requires data. The influx of information marketers receive every day is overwhelming, and one might need to critically analyse them to make a wholesome improvement in strategic decision-making. Collecting data at every customer touchpoint is as important as analysing them to better understand the audiences, predict the future consumer behaviours, and make effective real-time marketing decisions.
In a bid to upskill the modern marketers and to make them future-ready, the Sri Lanka Institute of Marketing—the apex marketing body in the country—recently launched the ‘SLIM Data-Driven Marketing Professional (DDMP). The launch was held at Hilton Colombo Residencies with the participation of industry experts in the country, who joined the programme virtually. The ceremony was conducted under the auspices of Thilanka Abeywardena, President, SLIM and Nuwan Gamage, Vice President-Education, SLIM and Sanath Senanayake, Chief Executive Officer/Executive Director, SLIM. Moreover, Seninda Bandara, Lecturer, SLIM/Founder, Boutique Agency Network and Chamira Jayasinghe, Founder/Chief Executive Officer, Arimac joined the virtual launch as guest speakers to enlighten the audience with valuable insights on data-driven marketing and its significance.
DDMP is a 3-month course that is focused on the theoretical as well as the practical context of data-driven marketing. SLIM DDPM is an ideal specialised programme designed to sharpen the knowledge of aspiring marketing managers—both conventional and digital—and provide the necessary understanding, knowledge and skills in data-driven marketing.
This professional qualification is curated in a way to evoke interest and educate about the essential applications and best tools in data-driven marketing, as well as blockchain technology in order to equip professional marketers to compete effectively and efficiently in their respective markets. DDMP covers a wide scope including, data mining to analysing and effective data-driven decision making. With the knowledge gained through this programme, marketers can streamline the digital marketing initiatives—the adoption of big data, cloud, social and mobile marketing campaigns—of their respective organisations to yield a better ROI.
Commenting on the launch of DDPM, Nuwan Gamage, Vice President-Education, SLIM stated, “The entire world is driven by digitalisation, which has changed our social behaviour, economic system and political landscape. In order to survive in such a technology-driven volatile environment, the objective of SLIM is to produce future-ready marketers. Therefore, we have introduced this latest professional qualification to empower local marketers with a global mindset.”
Addressing the audience during the launch, Seninda Bandara, Lecturer, SLIM/Founder, Boutique Agency Network said, “The very idea of data-driven marketing is about how we capture, acquire, and integrate data at all touchpoints of the marketing process by using technological solutions such as artificial intelligence and machine learning. The content of this particular course is an orchestration of theory and practice in a way to give a deep understanding of data-driven marketing and its application. This course covers a wide scope, including artificial intelligence, machine learning, Internet of Things, data analytics, data visualisation, big data as well as blockchain technology.”
Sharing valuable insights and his experience in the area, Chamira Jayasinghe, Founder/Chief Executive Officer, Arimac discussed the significance of data technology and its role as the next level of digitalisation. He also stated about ‘Diyasen’, a case study developed by Arimac on the orientation of robotics in a Sri Lankan context.”
SLIM is poised to groom the prospective marketers of the country to make them future-ready by bridging knowledge and competency gaps through quality educational programmes. During a time when a ‘fingertip society’ has emerged, and almost anything is just a click away, digital marketing and its advancements have become part and parcel of marketing. Therefore, it is of paramount importance for marketers to explore the depths of the digital aspect of marketing to excel in dynamic industries. Moreover, producing future-ready marketers is one of the key strategic pillars of the Institute’s ‘Future-Ready Sri Lanka’ national initiative. As per the World Economic Forum’s Future of Jobs report, 50% of all employees will need reskilling by 2025, as the adoption of technology takes the world by storm. As technology continues to dominate, the soaring demand for the profession of data scientist would skyrocket in the coming years and become the number one profession in the world by 2025.
Therefore, SLIM expects to enhance the value of the country’s human capital through various initiatives and create a future-ready Sri Lanka. Furthermore, the Future-Ready Sri Lanka initiative is driven by the mission of establishing Marketing as the driving force which enhances business and national value. SLIM believes that modern marketers should certainly embrace data-centric tools to make the most of the treasure troves of audience data being gathered from numerous devices and platforms to thrive in the digital age. SLIM is synonymous for its exceptional learning experience created through its focused and experienced panel of expert lectures.
SLIM is the National body for Marketing in Sri Lanka and has been promoting marketing excellence and elevating the status of marketing since 1970. It is a member of the National Chamber of Commerce of Sri Lanka (NCCSL), Organisation of Professional Associations of Sri Lanka (OPA) and Federation of Chamber of Commerce and Industry of Sri Lanka (FCCISL). SLIM also has received ISO 9001:2015 certification in recognition of its superior quality management system and ISO 2990:2010 for Learning Service Provider (LSP), providing non-formal education and training services.
EMA calls for re-start of events
Amidst enforcement of COVID-19 safety regulations
Issues comprehensive handbook with protocols to ensure COVID-safe events
Urges industry, venues, and clients to pledge support to follow suggested guidelines
Expresses grave concern over the survival of industry if safety violations lead to further outbreaks
Approx. 130,000 jobs and 600,000 livelihoods connected to the Rs 30 Bn industry at risk
Calls for prioritizing industry in vaccination rollout, 60% national threshold needed to safely scale-up events
Emphasizes country’s potential as a safe hub for MICE tourism if pandemic can be controlled
Following the easing of Covid-19 restrictions in Colombo, the Event Management Association (EMA) issued comprehensive guidelines for hosting COVID-safe events and called for the strictest possible adherence from stakeholders.
The EMA’s Handbook lists out detailed safety and hygiene standards and protocols to ensure that all future events will be hosted in a responsible manner - minimizing the risk of COVID-19 transmission at events in order to avoid further shutdowns of an industry that is already on the verge of collapse after 14 months of closure.
The EMA represents the interests of an array of business segments, from event management companies, wedding planners, equipment rental companies (sound systems, lighting, LED, etc.) stage & set fabricators, furniture & infrastructure rental companies, and digital creatives companies to venues, florists, musicians, event support services, entertainers, dance troupes, artists, designers, technicians and many more. In total, the entire sector is estimated to contribute as much as Rs. 30 billion to the national economy.
“We express our collective gratitude to the Government for taking a positive decision that will allow our members to earn a living after several painful months. While we welcome the opportunity for events to be hosted once more, extremely strict enforcement of comprehensive safety protocols is essential to avoid transmission of COVID-19 at events.
“When events were previously allowed, we have been disappointed to see many instances when these measures were totally disregarded. If such carelessness recurs and further COVID-19 cases arise, another shutdown will risk permanently destroying what is left of our industry. For the sake of all those employed and the families who depend on our industry, this cannot be allowed to happen. We therefore call on all stakeholders to implement and enforce our recommendations immediately and without compromises,” Roshan Wijeyaratne, President, EMA stated.
“Many event companies have made massive investments into infrastructure, equipment, and development of skills with investments ranging from Rs. 10 Mn to Rs. 800 Mn per business. They are now on the brink of collapse and are struggling to pay wages and meet financial commitments. Without assistance, they face impending bankruptcy. This will affect 130,000 direct and 600,000 indirect jobs and the people and families who depend on our industry for their livelihood,” Sajith Kodikara, Vice President, EMA.
Events are considered essential to businesses as a vital tool of ‘live communication’ which enables a cross-section of industries to present new products to the market and generate sales. In that regard, a high frequency of corporate events is often correlated with a healthy economy.
For countries that are beginning to emerge from COVID-19, face-to-face meetings and events are a priority feature of work they are looking to restart. A study of 125 New Zealand-based organisations found that 97% are planning to hold a business event in 2021 – up from 94% of respondents to a survey conducted in May 2020. Another recent study found that business travel has increased by 55% since restrictions eased while 37% of respondents expect to resume travel in 2021.
“Another crucial factor to consider is the potential for Sri Lanka to be positioned as a ‘safe event hub’ for MICE and destination event tourism which will accelerate Sri Lanka’s economic revival. That is provided we are able to get the health crisis under control with a scientific approach and a sustainable way forward for the industry. If we delay, we will most certainly lose out on business to other countries in the region,” Nishan Wasalathanthri, Treasurer Member, EMA.
In emulation of global best-practices adopted as a solution to ensure compliance of guidelines, the EMA Handbook proposes the appointment of ‘safe-event ambassadors’ tasked with reporting on non-compliance of guidelines.
“The handbook is created to simplify the organisers’ tasks of planning and hosting events and to mitigate the risk of weaker standards being applied. While the guidelines are already comprehensive, we expect to update it with additional information shortly,” Minha Akram, Committee Member, EMA added.
The Association also expressed its support for the Government’s efforts to control the pandemic and re-start the Sri Lankan economy.
“As with many sectors of the economy today, our industry is in dire peril. There is however a light at the end of the tunnel, in the form of mass vaccination. We take great encouragement from the Government’s emphasis and continuing rollout of vaccines to the public and request the prioritization of vaccines for industry members.
“In order for all sectors of the economy to scale up activity, and have a meaningful chance at recovery, we need to achieve 60% vaccination as soon as possible. Only then will we be able to see larger scale events take place. We also take this opportunity to urge the public to continue cooperating with public health measures to speed our progress to recovery,” Gerry Jayasinghe, Advisory Counsel, EMA said.
The EMA handbook will be available online on www.emalk.org from 19 July 2021.
EMA 1 – Mohamed Hussain – Member, Charm De Silva – Member, Saliya Weerasekera - Asst. Secretary, Roshan Wijeyaratne – President, Nishan Wasalathanthri - Treasurer, Malinda Lowe - Member and Gerry Jayasinghe - Advisory Counsel, Event Management Association Sri Lanka
EMA 2 - Roshan Wijeyaratne – President, Event Management Association Sri Lanka
EMA 3 - Nishan Wasalathanthri – Treasurer, Event Management Association Sri Lanka
EMA 4 - Saliya Weerasekera - Asst. Secretary, Event Management Association Sri Lanka
EMA 5 - Charm De Silva – Member, Event Management Association Sri Lanka
EMA 6 - Malinda Lowe – Member, Event Management Association Sri Lanka
EMA 7 - Mohamed Hussain – Member, Event Management Association Sri Lanka
EMA 8 - Gerry Jayasinghe - Advisory Counsel, Event Management Association Sri Lanka
Basilur Tea collaborates with Hemas Pharmaceuticals to launch TIPSON
Basilur Tea Export (Pvt) Ltd recently partnered with Hemas Pharmaceuticals (Pvt) Ltd to distribute TIPSON, an internationally recognized brand in the local market. A premium herbal infusion that has attracted many consumers across the globe, TIPSON has a vast range consisting of Organic Turmeric, Organic Ashwagandha, Organic Avocado, Organic Moringa, Organic Matcha and Organic Tulsi herbal infusions.
Including a functional wellness range with products such as Slim tea, Immune booster, Detox tea, Digestive support, Sleep-well tea, Liver cleanse and an Organic Beauty tea range, TIPSON is well equipped for all customer wellbeing requirements. Of the variety of TIPSON products available, Hemas Pharmaceuticals has decided to collaborate in the distribution of products in the Turmeric, Ashwagandha and functional wellness categories. Through this partnership, TIPSON is now available in several leading supermarkets in Sri Lanka.
Basilur Tea is renowned in multiple international brands across the globe as a premium gifting brand. While Basilur Tea is known for its superior quality Ceylon Tea, unique blends, freshness and unique branding, TIPSON is 100% natural, organic and consists of high quality herbs which enhance the vast amounts of health benefits. Its organic herbal infusions segment focuses on the health and wellbeing of its customers. Founded by Dr. Gamini Abeywickrama, an individual with decades of experience in producing and exporting the finest quality Ceylon tea, Basilur Tea aims at being more than just a beverage but rather a wholesome experience. Through the partnership with Mr. Andrey Mareev, a leading creative director, with some of the best tea designs and concepts seen in the tea industry, Basilur Tea was conceived.
With the highest quality Ceylon tea and unique products carefully developed over a decade of innovation, along with the use of cutting edge technology, creativity and constant research and development, Basilur Tea aims at personifying the luxurious elements of the most premium teas across the globe. Constant innovations, uniqueness in packaging and tea blends have positioned Basilur Tea products as an exclusive premium range internationally, resulting in a growing number of accolades and awards.
Over the years, Hemas Pharmaceuticals (Pvt) Ltd. has held the position as Sri Lanka’s leading pharmaceutical importer and distributor while becoming one of the most streamlined and modernized organisations in the industry with continuous growth over its operations. As such, the collaboration between Basilur Tea and Hemas Pharmaceuticals (Pvt) Ltd. reflects the expertise of two renown companies.
Inspired by years of research into the nutritional and functional benefits of herbs and fruits, TIPSON creates a unique, flavourful and overall healthy experience for customers to immerse themselves in. With interest in health, fitness and wellbeing steadily increasing, TIPSON is the optimum solution for refreshment at any time of the day. Available at exclusive Basilur Tea outlets at Liberty Plaza and Colombo City Center, these premium quality products ensure excellence and healing in every sip.
Vision Care relocates
Wellawatte outlet to provide enhanced services
Vision Care, Sri Lanka’s largest eye care solutions provider, unveiled its newly-revamped, more spacious Wellawatte outlet at its new location at No. 30, Galle Road, Colombo 06. The official opening ceremony was a low-key event held in accordance to the health guidelines given by the authorities.
The relocation and reopening of the Wellawatte outlet is in keeping with Vision Care's objective of providing the best quality eye and hearing care solutions to their valued customers by delivering superior products and services as well as greater convenience through all their outlets. The outlet offers modern infrastructure and state-of-the-art equipment and is manned by Vision Care’s well-trained, highly-experienced eye and hearing care professionals. It provides ample parking facilities together with large interior space that includes two eye testing units, hearing solutions and a wider selection of international eyewear brands. This means that customers traveling on Galle Road and living in the surrounding areas have the chance to access the latest eye and hearing care solutions as well as a wide array of world-renowned brands for sunglasses and frames. They are able to choose from top global brands for men and women such as Ray Ban, Vogue, Emporio Armani, Polaroid, Vintage, Polarsun, Carrera, Michael Kors, Prada, Bvlgari, Coach, Oakley, Gucci, Porsche and many others.
Harsha Maduranga - General Manager of Vision Care stated, “Despite the pandemic situation in the country, Vision Care has been mapping out plans to expand and upgrade our network in Sri Lanka when the time is right. We feel this is the time to move ahead with our plans to connect better with our existing and potential customers. This relocated Wellawatte outlet is the latest addition to our growing list of state-of-the-art outlets. I am sure that the outlet’s prominent location and world-class facilities will serve the customers in the area well. Given the risk of travelling these days, we are happy to bring our services to our customers’ doorstep so that eye and hearing care of international quality is just a short distance away for them.”
Kotmale and Sri Lankan Dairy
Kotmale has become one of Sri Lanka’s national dairy brands contributing to the nourishment of the country and strengthening the local dairy farming community. As a fully owned subsidiary of leading food company Cargills (Ceylon) PLC, Kotmale is a 100% Sri Lankan company. By sourcing fresh milk from over 17,000 local dairy farmers, Kotmale generated over Rs. 5.2bn of direct income for the Sri Lankan dairy farming community in 2020. Today, Kotmale has established itself as Sri Lanka’s largest private sector collector of fresh milk, collecting 180,000 litres on a daily basis.
Sri Lanka’s dairy industry
Sri Lanka imports about 60% of its milk requirement. That amounts to about USD 320 Mn (or LKR 64bn) of foreign exchange leaving the country every year. Though Sri Lanka has always had a milk deficit (local supply is less than local demand), regional peers like India are self-sufficient in dairy. Low milk production in Sri Lanka stems from two issues: 1) low and declining number of milking cows and 2) low yield per cow compared to global levels which has led to decreasing profitability for farmers.
Sri Lanka’s milking cow population has fallen quite drastically in recent times. From 596,000 in 2015 to 444,000 in 2019, the milking cow population has dropped 25% within a span of four years. This is an alarming statistic that needs immediate addressing from all stakeholders involved. Secondly, Sri Lanka’s milk production per cow remains low at around 3 liters per day, whereas the average global yield is around 7 liters per day and the yield in neighboring India is 8 liters per day. Low yield and low profitability have forced many farmers away from dairy farming which has further weakened local milk production.
Why is dairy important?
Dairy is a key component of a balanced, nutritional diet for both children and adults. Fresh milk contains important nutrients like calcium, phosphorus, B vitamins, potassium and vitamin D. Unfortunately, however, Sri Lanka’s per capita consumption of dairy is below globally recommended levels. One of the main reasons for this is the affordability factor. By increasing local production of fresh milk, Sri Lanka can not only reduce its dependence on imported milk but also improve the affordability of milk for local consumers, which will increase per capita consumption of fresh milk.
Kotmale and Cargills contribution
Over the years, Cargills has made significant investments to improve dairy production and support the smallholder dairy farming community in Sri Lanka. Cargills has provided both technical and financial support to dairy farmers to enhance capacity while providing a guaranteed marketplace. Cargills also ensured uninterrupted collection of milk during the COVID19 lockdowns. In addition to guaranteeing the best price for the farmer’s milk, Cargills contributes 50 cents for every liter of milk collected into a fund. This money is not reduced from the price paid to the farmer but is a direct contribution from Cargills, as a thank you for the dedicated service of our farmers to the country. These funds are used to provide educational scholarships to children of dairy farmers and support community development projects.
Cargills remains committed to the Sri Lankan Government’s vision of achieving self-sufficiency in dairy. To further support this national goal, Cargills started a dairy modernization program in partnership with 500 dairy farmers. As part of this project, Cargills established dairy model farms during 2020, providing farmers with assistance in improving the breeding stock, feeding systems including grass and fodder cultivation, improved cattle sheds, along with better nutrition and care for the animals. Farmers are also supported with land preparation and the necessary seeds for fodder cultivation. The Company hopes that the success of the dairy model farm project will encourage more farmers to emulate such a program and adopt similar practices, which will eventually lead to increased fresh milk production. By doubling the milk yield across the farmer network, Kotmale will be able to improve the incomes of farmers and further support the sustainability of the dairy industry. Given that smallholder dairy farmers form the backbone of the Sri Lankan dairy industry, making up more than 80% of local milk production, it is imperative that any future project to reach self-sufficiency and increase domestic milk production keeps the small dairy farmer at the center of it.
Kotmale supply chain and manufacturing
The Kotmale dairy supply chain from grass-to-glass is an extensive one with stringent quality checks to ensure the customer receives the highest quality products. The farmer network of over 17,000 smallholder dairy farmers bring their milk to the Cargills milk collection centers spread across the country. Once the quality of the milk is assessed, the milk is taken to a milk chilling center where the quality of the milk is assessed once more. Currently, there are 33 Cargills owned milk chilling centers around the country. The milk then makes its way to one of the four Cargills dairy processing facilities located in Banduragoda, Hatton Bogahawatta, Kelanimulla, and Kilinochchi where a third and final quality check is carried out.
At the state-of the-art dairy processing facility, expert teams manufacture dairy products ranging from UHT milk, pasteurized milk, yoghurt, cheese, butter, curd and dairy ice cream. The processing facility in Banduragoda is the largest integrated dairy facility in the Sri Lanka and has been approved for international-grade manufacturing.
Kotmale products offer round the clock nutrition for the family with the largest portfolio of dairy products in Sri Lanka. The Kotmale fresh milk comes in three different options – Full Cream, Low Fat, and Zero-Fat – meeting the needs of a range of customers across different demographic profiles. Kotmale has invested significantly in product innovation to bring healthier options for the customer. The recently launched Kotmale Milk with Oats is one such example, which provides wholesome nutrition of oats combined with fresh milk. The Kotmale jelly-yoghurt is another new innovation, combining the nourishment of yoghurt with the great taste of jelly at an affordable price to the consumer.
The Cargills philosophy
The Cargills philosophy of sourcing from local smallholder farmers and manufacturing value added dairy products that compete with international brands has proven to be a great success. It provides affordable nutrition for the consumer while increasing incomes for the Sri Lankan dairy farming community. The Company’s fresh milk sourcing alone saved over USD 28 Mn in foreign exchange for the country in 2020, while directing this income towards Sri Lankan farmers. As a food company focused on providing affordable nutrition, Cargills will continue to invest in uplifting local dairy farmers while bringing the best quality products to local consumers.
Forming Bonds of Steel for 35 Years
One of the most reputed hardware merchants in Sri Lanka, Janatha Steels was established in 1986, as a partnership and celebrates 35 years of excellence this year. A pioneer hardware supplier with a wealth of experience in the industry, they currently supply to a variety of construction industries including and not limited to engineering firms, plantations, and hydro projects. With a focus on imports, procurement, manufacture, warehouse, supply, wholesale and retail of all general hardware materials inclusive of tools, pipes, tubes, sheets, plates and many more, Janatha Steels offers the best products with imports from the world’s leading manufacturers such as Germany, China, India, Pakistan, Taiwan, Thailand and Korea.
Janatha Steels has had many iconic moments within the past 35 years. Commencing operations in 1986 with only a 3-member staff, they proceeded to import hardware items from Singapore in 1988, acquired their own warehouse in 1990, and by 1994 had started importing steel rods. By 1999 they had acquired more warehouses, which enabled their venture into the manufacturing of wire nails, nuts, bolts and fencing barbed wire in 2006. In 2007 they commenced the manufacture of wire nails at the Ekala factory and had started importing tools by 2010.
Providing productive direct employment to over 700 workers and indirect employment to thousands, Janatha Steels is now a force to be reckoned with and has remained reliable for 35 years. In 2013, Janatha Steels was named as one of the ‘Most Respected Companies in the prestigious LMD magazine further boosting its image.
Speaking to Vasudevan Subramaniam – Managing Partner, Janatha Steel, on the journey of over three decades, he stated, “During the early part of 1980s, when I was working with my father at his business, I had a dream of starting my own business to introduce my innovative thoughts. Having discussed my ideas with members of my family and after explaining my passion and ideas to them, they encouraged me to take that first step and embark on my journey towards setting up my own business. As the country’s economy was open in the 1980s, both the private and the public sectors were actively involved in new construction projects such as the low-cost housing projects initiated by the then Prime Minister Hon R Premadasa under Gam Udawa in 1987, the accelerated Mahaweli scheme and related small and large scale irrigation projects and hydropower plants, which needed hardware items as well as some general housing projects. Under these circumstances, I thought it was the ideal time to enter the field to address the growing demand for steel. It is amazing to see the fruit of our efforts as we are now one of the pioneering hardware companies in the country.”
Bonds of steel were formed when Mr Shayanthaan, the elder son of Mr Vasudevan, formally entered the business as a partner in 2016. The subsequent acquisition of Gamage Trading (Pvt) Ltd in Matugama to manufacture round and square tubes, in 2018, is evidence of the continuous growth and prosperity of the company.
From 2018 till the present day, the group has diversified into related and non-related fields such as Taprobana Island (Pvt) Ltd., a company engaged in importing and trading of stationery items, and Hemka Pharma (Pvt) Ltd., importers and traders of pharmaceutical equipment. In addition, Janatha Steels established Janatha Green Solution (Pvt) Ltd., to supply and install rooftop solar panels, Janatha Cement (Pvt) Ltd., to import, package and supply quality cement to construction industries and Janatha Automobiles (Pvt) Ltd., to acquire international agency representation for agricultural equipment and auto spare parts. Janatha Plantation (Pvt) Ltd. was also established to develop the existing poultry and agri-farm business located in Wattala as this would facilitate the expansion into the coconut and other cash crop plantations.
Janatha Steels has also initiated multiple CSR projects as they believe in the importance of ensuring the welfare of the people. The ground floor of Ganapathy Hindu Ladies College, Colombo was constructed by the Managing partner Mr S. Vasudevan. He also donated computers to Thiruvalluvar Tamil Vidyalayam in the district of Matale. Numerous donations in cash and kind are made periodically to several religious and educational institutions island-wide. The team at Janatha Steels believe in carrying out their CSR projects without the glitz and glamour of publicity, as the act of serving the people is their priority.
Fairfirst recognized as the ‘Best General Insurance Brand in Sri Lanka’
Fairfirst’s recent streak of both local & global awards and recognitions is a true testament to their continuous focus on being the best rather than the biggest. The leading insurer recently clinched the title of ‘Best General Insurance Brand in Sri Lanka’ at the 9th edition of the Global Brand Magazine Awards 2021, where they were recognised as the only Sri Lankan insurer to win alongside other global insurance brands such as AXA, Swiss Re, LIC (Life Insurance Corporation of India) and other non-insurance brands such as Google, Alibaba, DHL, Samsung and many more. Another global recognition for Fairfirst and for the 2nd time in Sri Lanka comes on the heels of 3 distinguished titles in 2021 for ‘Best Motor Insurance Claims Process (Click2Claim), ‘Best Cyber Insurance Company’ and ‘Best Employee Benefits Provider’ at the Global Banking & Finance Awards 2021. Fairfirst also achieved the distinction of being the only Insurer to bring home the ‘Merit Award’ at the CNCI Achiever Awards 2020 for Industrial Excellence.
Fairfirst has always taken an empathy-based approach to develop solutions for customer needs, combined with a design-led thinking culture that reinforces a learning mindset that encourages to #GiveItATry and learn from failures. In doing things The Fairfirst Way, this formula has led the company towards delivering a consistent investment in a number of world-class products, processes and capabilities. Thus, proving to be a key differentiator through empathy-based innovations that have brought convenience and peace of mind to millions of Sri Lankans.
Speaking on these wins Sandeep Gopal – CEO, Fairfirst Insurance states, “These wins show that regardless of trying times, we will always work together to further innovate and revolutionise the insurance industry. This, in turn, will contribute to our future readiness in terms of nation-building and serving insurance needs of amazing Sri Lankans, The Fairfirst Way,”
Further commenting on these exciting wins, Sasith Bambaradeniya - Chief Marketing Officer, Fairfirst Insurance says, “It’s an absolute honor to be winning and achieving local and global milestones in our journey towards being the best. With an expansive and active empathy-led design and communication agenda, we will always strive to be the Best rather than the Biggest.’
With a passion for making complex insurance solutions simple and accessible, Fairfirst is a leading insurance company that is part of the Canadian-based Fairfax Group. Serving individuals, businesses and institutions, the company offers its out-of-the-box solutions via its team of 1400 professionals, who work across a service center network comprising 56 branches. Putting innovation, fun and excitement back into the insurance industry, Fairfirst is fast-becoming an industry leader that people turn to and trust.