business Sri Lanka

Women’s International Shipping & Trading Association (WISTA) Sri Lanka concluded yet another successful event held at Cinnamon Grand Hotel to celebrate Women’s Day 2021 with two-panel discussions and members’ fellowship.

President of WISTA Sri Lanka NiluMediwaka Wickremasinghe, (Director, SALOTA International) addressed the gathering where she highlighted the importance of achieving gender equality and minimizing the gender gap. She also emphasized the positive impact gender equality will bring in to the national economy. She further elaborated on the objectives of WISTA Sri Lanka and the activities carried out to empower women in Shipping and Logistics which include promoting shipping and logistics as a preferred industry from a job entry point, strengthening skills and competencies with various initiatives, providing networking and mentoring opportunities. The first panel discussion themed the future of Sri Lanka’s Logistics and female participants with a challenging and thought-provoking session moderated by Maersk Lanka Country Sales Head Randima Krishnaratne with two reputed Industry leaders, Hayleys Advantis Managing Director Ruwan Waidyaratne, and Expo Lanka Holding Group CEO Hanif Yusoof. They shared views on an industry with only 3% female participation and what needs to be done to encourage and empower more women to join this industry. Ruwan Waidyaratne in his address said “I have two wishes for the Industry, one is there will be policy consistency and better integration of all authorities concerned. The second being that the industry would swiftly embrace technology to create better stakeholder value”. Hanif Yusoof said, “I am an impatient man and I make things happen, if Sri Lanka is to truly become a hub the ease of doing business has to improve “.

The second panel discussion on inclusivity – achieving an equal world moderated by GAC group CEO Ravi Edirisinghe with an eminent panel comprising of Indira Trust Chairperson Dr Lanka Dissanayake, Maersk Pakistan Managing Director Aruna Hussain, Mrs World 2020 Caroline Jurie, SAGT Chief Commercial Officer Ted Muttiah, Psychologist Rasini Bandara, and McLarens Group. Managing Director Shehara Jayawardena,

Lanka Dissanayake sharing her views said women must look after themselves, TLC campaign is all about this and all women over the age of 20 years must do a self-breast examination every month”. Rasini Bandara said “Women empowerment is something we all have within us and it’s a matter of understanding that, you need to believe in your self first to build that empowerment in you, then only you will have the power of empowering another human being. Caroline Jurie shared her story of why women should stand up for themselves irrespective of their appearance as beauty is more about women feeling confident about themselves to stand up against any challenges they face.

Shehara Jayawardena in her address spoke about unconscious biases affecting gender equality at Organizations. She also said “many companies have shown their commitment to gender equality by establishing family-friendly policies and facilitating women’s careers and professional networks.

Nevertheless, unconscious gender bias continues to impact women in the workplace, and more must be done to enable highly skilled women to advance into leadership positions”.

WISTA firmly believes and advocates inclusivity in the workplace giving equal opportunities for women to rise in their respective careers. WISTA has carried out many such initiatives in the past empowering and coaching women to become a powerful force in the industry.

Cleantech Pvt Ltd., one of Sri Lanka’s pioneering leader in Solid Waste Management Solutions, recently concluded a year-long beach clean-up project covering a 6 KM beach strip between Mount Lavinia and Wellawatta, an initiative led by Port City Colombo.

The project ‘Lassana Werala’ involved daily cleaning efforts facilitated by the Wana Arana Foundation, a Youth Environmental Organization and concluded on March 31, with a total of 154,080 kgs of collected waste.

A significant portion of the waste collection was attributed to but not limited to plastic waste, PET and glass bottles, beer cans, fishing nets and cigarette filters. Fabric waste, rubber slippers, tires, Styrofoam, food waste, invasive plants, and coconut shells, husks and leaves were significant sources of pollution as well. The majority of waste collected during the beach clean-up was carefully segregated and recycled to partner companies engaged in sustainable manufacturing.

“In addition to keeping our beaches clean, our objective was to gain deeper insight into the waste and marine debris profile in one of the most urbanized shores in Sri Lanka. The waste collected during the past year was significant and paves way for our organisation to better understand the gaps in current solid waste management practices and optimise recycling and resource recovery options as a solution. We believe that collaboration is key to accomplishing mammoth tasks such as these and consider it a privilege to have been part of the ‘Lassana Werala’ initiative along with like-minded partners on a cohesive mission to safeguard our environment,” commented Gihan Chamara, Operations Manager of Cleantech Pvt Ltd.

“The environment is where we all meet. As we all walk towards the common goal of prosperity in our own chosen directions, protecting the earth must be at the core of all our actions,” commented Thushara Wanasinghe, Secretary of the Wana Arana Foundation.

Cleantech extends its heartfelt appreciation to the Port City Colombo for initiating the ‘Lassana Werala’ beach clean-up. The company also appreciates the Colombo and Dehiwala-Mount Lavinia Municipal Councils, The Sri Lanka Coastguard, The Coastal Conservation Department, the Sri Lanka Police and Sri Lanka Navy for the significant support extended towards effectively implementing this project.

Hameedia, Sri Lanka, a leading total men’s wear solution provider commemorated International Women’s Day recently with a wave of educative and interesting events.

Celebrated cricketing personality Roshan Mahanama, Attorneys-at-Law, Naushalya Rajapaksha and Chamathka Rathnayaka from The Yeheliya Foundation and Dr. Lanka Jayasuriya Dissanayake, Chairperson and Trustee of the Indira Cancer Trust (ICT) Foundation together with the management and staff at Hameedia (Pvt) Ltd joined hands to celebrate all the impressive women who are an integral and invaluable part of the fashion entity.

Guest speakers from the Yeheliya Foundation made an informative speech related to cyber bullying in modern society, as many fall prey to the diabolical dilemma that wrecks the lives of many, with a majority of the victims being women, children and youth.

The speakers advised the staff of Hameedia on how important it is for women to be mentally strong in order to fight against injustices they face in today’s society where a person or anyone’s character can be destroyed by the mere click of a button.

Moving on, in keeping with an environment friendly concept that is additionally beneficial to women, Hameedia gifted a fruit plant each, to all 375 female members of their staff, to be grown in their home gardens.

Going a step further in ensuring the health and vitality of the staff meant taking the initiative to create awareness about breast cancer. Organised in collaboration with the Indira Cancer Trust, this event was instrumental in increasing awareness on the subject that had been a taboo for years. Now, regarded as a preventable form of cancer if detected early, cancer also shows no partiality as women belonging to all levels of society are prone to it.

Sri Lanka’s celebrated menswear specialist, Fouzul Hameed, Managing Director at Hameedia (Pvt) Ltd said, “While we at Hameedia value our female workforce and ensure they are treated with utmost respect every single day, Women’s Day 2021 gave us a good opportunity to organize events in collaboration with two of the most formidable charitable organisations that have created an impact on the lives of women in our country. It is our aim that these events will ensure a life well lived for all our female staff as each woman deserves to live life to the fullest and become the best version of themselves”.

The Swadeshi Industrial Works PLC recently announced the Gold necklace winners of Rani Sadun Wasana Warama promotion which was launched with the aim of rewarding loyal Rani Sandalwood consumers.

The six winners were U. Mariyan Fernando from Marawila, W.D. Samarakoon from Anuradhapura, Nadeesha Deepthi Jayathilake from Melsiripura, H.H. Pushpa Malani from Medirigiriya, Rashmini Madushali from Welipenna and T.D. Malani Priyanthika from Ampara were awarded with gold necklaces at an event held recently.

Rani WasanaWarama promotion which was underway during the months of November and December last year, received a large number of responses out of which the winners were chosen via a raffle draw. Besides rewarding the Gold necklaces, the six-week long promotion also gave away 6 washing machines, 6 microwave ovens, 6 media pads, 6 gas cookers, 6 rice cookers and 84 Rani Gift packs, showering gifts upon gifts to fill households with joy.

A spokesperson from Swadeshi said, “It is with utmost pleasure that we reward our loyal consumers as a tribute to their long standing relationship with Rani Sandalwood. We have received overwhelming responses for the campaign, setting the tone for yet another round of promotions. Championing this promotion was the highly embraced and sought after, Rani Sandalwood. Infused with sandalwood, Rani Sandalwood is the preferred choice amongst women who aspire to take their beauty to the next level.”

The Swadeshi Industrial Works PLC, was one of the first Sri Lankan company to manufacture herbal soap in Sri Lanka.

The Swadeshi Industrial Works PLC is an ISO 9001: 2015 certified company that uses the best mix of herbs and all its ingredients are extensively researched and the products are fully tested to ensure quality. All Swadeshi products are 100% vegetarian, not tested on animals and are cruelty free.

The Swadeshi Industrial Works PLC recently announced the Gold necklace winners of Rani Sadun Wasana Warama promotion which was launched with the aim of rewarding loyal Rani Sandalwood consumers.

The six winners were U. Mariyan Fernando from Marawila, W.D. Samarakoon from Anuradhapura, Nadeesha Deepthi Jayathilake from Melsiripura, H.H. Pushpa Malani from Medirigiriya, Rashmini Madushali from Welipenna and T.D. Malani Priyanthika from Ampara were awarded with gold necklaces at an event held recently.

Rani WasanaWarama promotion which was underway during the months of November and December last year, received a large number of responses out of which the winners were chosen via a raffle draw. Besides rewarding the Gold necklaces, the six-week long promotion also gave away 6 washing machines, 6 microwave ovens, 6 media pads, 6 gas cookers, 6 rice cookers and 84 Rani Gift packs, showering gifts upon gifts to fill households with joy.

A spokesperson from Swadeshi said, “It is with utmost pleasure that we reward our loyal consumers as a tribute to their long standing relationship with Rani Sandalwood. We have received overwhelming responses for the campaign, setting the tone for yet another round of promotions. Championing this promotion was the highly embraced and sought after, Rani Sandalwood. Infused with sandalwood, Rani Sandalwood is the preferred choice amongst women who aspire to take their beauty to the next level.”

The Swadeshi Industrial Works PLC, was one of the first Sri Lankan company to manufacture herbal soap in Sri Lanka.

The Swadeshi Industrial Works PLC is an ISO 9001: 2015 certified company that uses the best mix of herbs and all its ingredients are extensively researched and the products are fully tested to ensure quality. All Swadeshi products are 100% vegetarian, not tested on animals and are cruelty free.

Hutch, one of Sri Lanka’s mobile broadband services announced winners of the 26th edition of Hutch Danumai Miliyanayai general knowledge quiz competition.

The winners were awarded with cash prizes at an event held at the Hutch Head Office, Colombo.

The first prize was awarded to M.S. Girty Samanmalee from Morawaka, second prize to Y.K.P.P. Senanayaka from Colombo 05 and third prize to B.M.A.S. Sripali from Kithulhitiyawa. The prizes were handed over by Indunil Fernando, General Manager-Postpaid at Hutch.

Organized by HUTCH together with Beyond M, a leading supplier of software products and services and a subsidiary of hSenid Software International, which acts as the service partner and provided the platform for the quiz service, Danumai Miliyanayai is a six-month long quiz competition where users can participate via SMS, web or Danumai Miliyanayai app.

Danumai Miliyanayai is highly distinctive from traditional quiz competitions as it is a digital platform designed to improve general knowledge and spend leisure time while having fun. Most importantly, it is a highly rewarding competition that provides equal winning opportunities for every contestant.

Users who wish to participate in this competition can register by typing WIN and sending a SMS to 6633 or simply downloading the app from play store. After subscribing to this service, users will receive 10 questions per day and for each correct answer, they can collect points. Winners will be selected via a draw at the end of six months where the number of points scored will determine the winning chances for each user. The 27th season of Danumai Miliyanayai competition which is in progress ends on April 30 and the 28th season kicks off from May 1, in search of more lucky winners.

The Commercial Bank of Ceylon has announced that ComBank Q+ Payment App, the first Quick Response (QR) based payment app to be launched on the LANKAQR platform, is now being used by over 50,000 customers who have embraced the convenience and security of the cashless digital payment solution offered by the Bank.

The App went through a series of upgrades even as the Bank stepped up its promotion as part of its support to the Central Bank of Sri Lanka’s post-lockdown initiative to popularise QR code-based payments via LANKAQR.

ComBank Q+ Payment App was designed as a convenient and hassle-free payment alternative for Credit, Debit and Prepaid Cardholders and merchants, taking them to the next dimension of digital payments, the Bank said. After the launch of the app that enabled cardholders to pay for purchases via their mobile phones simply and securely by scanning the merchant’s QR code, the app underwent several functionality-enhancing upgrades. These included biometric authentication login for both the consumer and merchant applications, an ‘In-App Bill Payments’ feature that allows users connected to the Bank’s Debit, Credit or Prepaid cards to pay bills instantly, and the facility to promptly settle Credit Card outstanding and top-up Pre-paid Cards.

The ‘In-App Payments’ feature enables ComBank Q+ Payment App users to make payments in six categories such as data reloads, prepaid and post-paid mobiles, fixed telephone lines, utilities, water, and electricity (CEB and LECO), and pay-TV bills.

The pervasive, dynamic and interactive user experience and convenience the app offers are the driving forces behind its popularity, the Bank said.

By binding their cards to the Q+ app, ComBank cardholders avoid pulling out the card from their wallets which prevents card losses and card theft. This also encourages the use of environment friendly, paperless-banking features such as Digital receipts and in-App alerts. Payments done using Q+ app require authentication using a static PIN which ensures the safety and security of transactions, making the Q+ App more secure than a normal card.

Customers can add their ComBank Visa, Mastercard and UnionPaycards to the ComBank Q+ Payment App, enabling them to perform LankaQR, mVisa, and Mastercard QR transactions. A maximum of five cards can be added to Q+ app. ComBank Q+ Payment App is the only payment app in Sri Lanka that supports LankaQR, mVisa, and Mastercard QR transactions.

Commercial Bank has continuously supported the Central Bank initiative to promote cashless digital payments via the LANKAQR platform, and in turn, popularised its Q+ application among both customers and merchants when it participated in events in Matale, at Diyatha Uyana in Colombo and in Kandy and Matara.

An insurance policy that gives early returns whilst offering comprehensive protection

Understanding the modern and vibrant lifestyle of the young generations, Sri Lanka Insurance presents an ‘Early Cash’ life insurance solution that provides early returns while offering comprehensive protection for policyholders.

Sri Lanka Insurance Life ‘Early Cash” is a long term plan in which pays up to 50% of the policy value in two advance payments before the end of the policy period. (50% for a 10-year plan and 40% for a 15/20 year plan).

Also, policyholders will receive an unmatchable bonus calculated based on the total policy value even if advance payments have been obtained, making it an unparalleled insurance solution in the market.

The insurance solution can be further customized according to the specific insurance needs of policyholders with additional covers such as Critical Illness Cover, Hospitalization Cover, Additional Life Cover, Permanent Disability Benefit, Accidental Death Cover and Spouse Cover etc. for enhanced protection.

In the event of the unexpected demise of the policyholder during the policy period the entire sum assured with accumulated bonus will be paid to the dependents immediately, regardless of any previous advance payments made.

The insurance policy is open for anyone in the age of year 18- 60 and policyholders can choose the policy period from 10, 15 and 20 years. Also, premium payments can be made annually, bi-annually, quarterly and monthly as per the convenience of the customer.

Established in 1962, Sri Lanka Insurance Corporation is the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs.212 billion and a Life fund of Rs. 117 billion, the largest in the local insurance industry.

Fortune smiled in 22-carat radiance on another 103 Ceylinco Life policyholders recently when the life insurance leader presented gold to the value of Rs 5 million to the third batch of winners under the 14th edition of its ‘Family Savari’ mega promotion.

The latest jackpot winner of Rs 1 million in gold was from Matara, while residents of Moratuwa and Piliyandala took home gold and five residents of Baddegama, Bandarawela, Batticaloa, Kotahena and Wellawatte won gold.

Another 25 policyholders were each presented gold and 70 others received gold. Three more draws are to be conducted this year, culminating in a total of 618 Ceylinco Life policyholders winning Rs 30 million in gold.

The decision to present policyholders with gold instead of the customary overseas holidays and local excursions of the ‘Family Savari’ promotion was on account of the travel restrictions and safety precautions necessitated by the COVID-19 pandemic.

LB Finance, partnering with Thuru, donated 2500 tree saplings to the Sri Lankan Navy on the 21st of March 2021 to celebrate International Day of Forests. This falls within the company’s CSR focus of committing to the environment, to which LB Finance has dedicated many of its resources in the past.

The undisputed leader in the non-banking sector, LB Finance has continuously engaged in tree planting projects under the theme of “Thuru Wawamu” to save the planet in the run up to the company’s anniversary celebrations in 2021. This tree planting and donation event, which was held at the Welisara Navy Camp, was graced by Vice Admiral Nishantha Ulugetenne (Commander of the Navy), Chandima Ulugetenne (President of the Navy Seva Vanitha Unit) and Hasanka Padukka (Co-Founder – Thuru).

Taking into consideration that the country’s forest cover has decreased from 36% to 29%, “Mission Thuru Wavamu, 50-50Thousand” by LB Finance aims to curb deforestation in the country by planting trees. Over the past 3 years, the company has worked tirelessly to plant 50,000 trees across Sri Lanka to culminate in 2021 to celebrate its 50th anniversary.

In keeping with that mission, LB Finance donated another 1,000 tree saplings to the National Scout’s Movement to be planted in their recently inaugurated project to plant 100,000 trees.

The project was held to commemorate the 164th birth anniversary of the founder of the Scouts Movement, Lord Baden Powell. The trees planted across the country by over 70,000 scouts would be registered on the ‘Thuru’ mobile phone application under the Sri Lanka Scouts Association.

LB Finance’s CSR arm has engaged in many CSR projects including opening a rehabilitation centre in Rumassala, Galle; conducting “Sisu Shakthi” seminars for O/Level students in Mahiyanganaya and Viyaluwa, donating limbs in partnership with Friend-in-Need; conducting free health screening programs for customers in Polonnaruwa to build awareness about non-communicable diseases; and many blood donation campaigns around the country.

The premiere savings bank in the country, National Savings Bank (NSB), as a responsible government institution and corporate citizen, has joined hands to commemorate World Earth Day, on April 22 and as the next stage of the agroforest program launched by NSB to promote planting agrarian crops in urban spaces, distribution of vegetable and fruit saplings for the dwellers at Elvitigala Flats, Colombo took place with the participation of the Environment Minister Mahinda Amaraweera, NSB Chairperson Keasila Jayawardena, Colombo Municipal Council Commissioner Roshani Dissanayake and NSB General Manager/CEO Ajith W Peiris.

Further, the Bank has taken part in the planting program launched by the Colombo Municipal Council to establish a fruit orchard at Vihara Maha Devi Park in Colombo as per the concept of Municipal Commissioner of Colombo Municipal Council, Roshani Dissanayake. The objective of this program is to attract bird species by planting trees which are common in rural areas such as Palu and Weera, in urban areas and thereby encourage the children living in urban areas to be more familiar, sensitive and connected with nature.

The Environment Minister Mahinda Amaraweera, NSB Chairperson Keasila Jayawardena, Colombo Mayor Rosy Senanayake, Environment Ministry Secretary Anil Jasinghe, NSB General Manager/CEO Ajith Peiris, NSB DGMs K Raveendran, Lal Karunathilake, Colombo Municipal Council Commissioner Roshani Dissanayake, French and Japanese Ambassadors to Sri Lanka, United Nations Secretary General’s Envoy on Youth at the United Nations, Jayathma Wickremanayake, Senior Management of NSB and many other distinguished guests were present.

The tendency to recruit foreign people for professional jobs in Japan has come out just recently. We foresee that the demand for foreign professionals, especially in the IT sector, will grow up rapidly in the coming years due to increasing demand for such skills and decreasing youth population. It is the right time for Sri Lankan youth to consider Japan as a “new destination” for IT jobs. But, don’t forget! IT skill is not the only skill you need to develop a successful career in Japan. Go something beyond that, and grab Japanese language skills, plus a good understanding of the Japanese business practices. The key to a successful international career will be in your hand soon!

Especially the graduates from countries like Vietnam, China and India are getting the benefits of high demand in the country. The following table compares Japan with Europe’s largest economy and with Australia. In terms of safety, quality of life and economic benefits Japan can be positioned as one of the best places to work. Therefore, professionals can expect a very safe working and living environment while enjoying a highly competitive salary. On average 7.5 million Yen per year.

In most ways, Japan is one of the best destinations to start a professional career for a graduate. Working on time and being extra careful about the quality of your work are basic qualities society expects from you all the time. This is not limited to the job you do; disposing of garbage is also a skill you should improve gradually. But, once you get used to them, it will be a gift from Japan to have a better future.

Many Japanese companies still have the concept of lifetime employment. Therefore, companies invest a lot in employee training. Initial training goes for many months for fresh graduates. If you are lucky to join a Japanese company as a fresh graduate, then you will be able to get this training. This training based on actual working experience is very effective, which you cannot find in any paid course program. Even after this training, the company gradually introduces the working culture and technology to the new employees during the first few years.

But, unfortunately, the language and cultural barriers have made entering this job market a painful challenge. Especially in a field like software engineering both language and cultural knowledge matter very much. Proper software development practices and extreme testing are essential parts of this environment. That does not mean opportunities are limited to a unique set of people. There is a large population of foreign IT professionals working in Japan. Once get used to this working culture, it will be a good foundation to work anywhere in the world with confidence and discipline.

Japan has a well-shaped modern economy that has evolved for centuries. While protecting the ancient roots, the country has been able to hold a leading place in the global market. The following table shows how the economy has changed over the last century.

Within the IT industry, there is a big demand for experts in areas like Information Security, Big data, Artificial Intelligence in parallel to Japan’s “Society 5.0” concept, “A human-centred society that balances economic advancement with the resolution of social problems by a system that highly integrates cyberspace and physical space”.

Japan expects to achieve a smarter and human-friendly society through better utilization of computer science and cyberspace. Lots of improvements and innovations are required in the coming decades to achieve this goal. Therefore, even with the challenges of Covid-19, top Japanese companies plan to invest more in IT-related projects.

Population-decrease in Japan is a well-studied aspect in Japanese society. Lots of contemporary socioeconomic factors have contributed to this situation. But people tend to see many pros and cons of it. One of the main disadvantages to the country is the lack of a workforce to drive the country’s industry. This has become one of the biggest challenges to economic growth. Especially the booming IT industry suffers severely from this, creating a good demand for foreign experts.

The government of Japan has already taken many steps for this. One major step is to attract highly skilled foreign professionals from potential nations. For that, they are also making bilateral agreements to make a conducive environment for the professionals to come inside the country. Nearly 300,000 foreign software engineers were needed in the year 2020 to fill the vacancies in the Japanese IT industry. In the year 2030, this number will pass 500,000.

The author is the Chairman of the Lanka Nippon BizTech Institute (LNBTI), the first Japanese higher education institute established in Sri Lanka, with courses on the IT sector. He also is a founding member of Metatechno Inc Japan the main software provider for many multinational companies in Japan including Canon Corporation.

Capital Gain Tax (CGT) was re-introduced in Sri Lanka by the Inland Revenue Act No. 24 of 2017 with effect from 1st April 01, 2018. The history of CGT dates back to 1978 when a tax rate of 45% was introduced, later reduced to 25% and finally being abolished in 2002.

The CGT is a tax on profit on disposing of investment assets. The effective tax rate under CGT is 10%.

What is meant by profit?

That is the gain, not the amount received on the realization of an investment asset.

What does “disposing of” mean?

Disposing of means, selling, transferring to someone or swapping for something else and getting compensation (E.g.: insurance payout at a loss)

What is an investment asset?

As per Sec. 195 of the Inland Revenue Act, an investment asset means capital assets held as a part of investment such as land or building; a membership interest in a company, partnership, or trust; security or other financial assets and an option, right, or other interest in an asset.

What are the exemptions from CGT?

If the profit is less than Rs. 50,000/- (if multiple gains, a cumulative amount less than Rs. 600,000/- within a year), the principal place of residence of an individual provided it has been owned by the individual continuously for three years before disposal and lived in at least for 2 years out of those 3 years (calculated daily), capital gains from share market, depreciable assets, a property (or land) gifted to blood relations, investment assets realized in two or more parts and realization of Investment assets jointly owned.

What is the cost of an investment asset?

The cost of investment asset held by a person as of 30th September 2017.

How is capital gain calculated?

Capital gain = Selling price-Cost as at 30/09/2017

The cost as of 30/09/2017 is equal to the market value of the asset at that time. If the property was acquired before 30/09/2017, then the cost would be valued as of 30/09/2017.

And if the asset was acquired after that date, then it will be the cost of acquiring that asset.

Every liable person should make payment to Inland Revenue Department within one month after the date of realization of the investment asset.

Valuable resources are extracted every day to develop convenient products such as bottles, containers and more. As the extraction of virgin resources rapidly depletes the availability of such, it is high time a sustainable alternative is fetched, to ensure longevity and liveability for future generations.

With the prices for virgin material on the rise, the alternative, which is waste that can be recycled, is staring at us from the roadsides, canals and landfills. If we collect and recycle the waste plastic bottles around our island, the need to import approximately 1000-1300 tonnes of polyethylene terephthalate (PET) every month would significantly reduce, and help revive the environment and economy as well.

60% of the monthly PET plastic in Sri Lanka is circulated within the Western Province. Unless measures are taken to collect and dispose of waste plastic effectively, the requirement to import plastic will continue to rise, and the potential for a resilient circular economy and improved livelihoods in the recycling sector will eventually disappear.

Bottle-to-Bottle: a better solution?

One of the easiest solutions is to bring plastic back into the system and recycle it to produce a bottle again. But, that’s hardly a reality. Why? Sri Lanka doesn’t legally allow recycled content in food-grade manufacturing.

According to the Extraordinary Gazette Notification No. 1160/30 of 29th June 2010 “any food in any package, appliance, container or vessel that has been made from recycled plastic” is prohibited. Thus, there is a fear around using recycled plastic in food-grade packaging in terms of quality and impact on the health of the end consumer.

However, around the world, countries are embracing this concept, committing to world-class standards and implementing the bottle-to-bottle concept to efficiently curb plastic waste pollution, while also giving back to their economy and local communities. Developed and developing economies such as the USA, Canada, Europe, Brazil, Bangladesh and Nigeria allows recycled PET in food-grade packaging, which scales down on the use of virgin resin in manufacturing.

For example, the level of PET bottle recycling in Japan is one of the highest in the world, and this was made possible by the Containers and Packaging Recycling Act (1995) which was implemented to promote the segregated collection and recycling of containers and packaging waste. The Government of Japan designates three types of recycling processes; Material, Chemical and Thermal recycling. PET plastics fall under the ‘Material’ category, where PET bottles are made into new PET products.

In Indonesia, Coca-Cola plans to set up a new recycling facility, which will help eliminate the use of virgin plastic. The facility will house a bottle-to-bottle grade PET recycling facility where the use of recycled plastic could reduce the amount of new plastic resin the company uses by an estimated 25,000 tonnes each year. Through this venture, Coca-Cola hopes to play a critical role in supporting Indonesia’s plastic waste management issue, while creating an impact on the country’s circular economy as well.

Moreover, in evident efforts to save foreign exchange and successfully battle against the war of pollution, the bottle-to-bottle concept is approved in many countries. The case in Sri Lanka should be no different. As this concept is also approved by The United States Food and Drug Administration (FDA), Lankan authorities should follow suit and save valuable foreign exchange by converting waste PET back to a bottle. Currently, Sri Lanka spends up to USD 1,550 per ton, per month in foreign reserves for the importation of PET plastic, where approximately 1000-1300 tons of PET is imported per month.

Additionally, recycling PET bottles to their original form can be done more than 7-8 times, where the process is much more affordable and less harmful to the environment, as PET plastics produce 3 times less CO2 in production when compared to an alternative material such as glass.

Using modern and advanced machinery in the recycling process, the intrinsic viscosity (IV) level, which is the strength of a bottle, will not only be kept stable but increase as well.

So if the underlying benefits are clear and extremely advantageous to all Sri Lankans, why hasn’t this concept been implemented?

Waste management: a need for stronger reform

From a holistic point of view, one of the biggest issues in Sri Lanka’s waste management system is the poor implementation of proper waste collection. From rural households to the urban West, to the authoritative bodies in the country, a responsibility to segregate and dispose of plastic waste appropriately must be indoctrinated.

Primarily, every household should ideally have 4 separate designated bins to collect organic waste, paper waste, glass and metal waste and plastic waste. This way, collectors can collect the less contaminated plastics and give them to the recyclers.

In Japan, households are encouraged to sort their waste at home as they are provided with specific containers for PET bottles, PS foam containers, and PP bottle caps separately, instead of mixing them with other plastics. They are further encouraged to utilise segregated disposal methods such as PET bottle shredders provided at supermarkets for consumers to dispose of their used PET bottles, after which they can collect store credit or shopping tokens. Japan’s impressively high plastic recycling rate is owed to its local Governments’ sorting rules, which are some of the strictest in the world.

In Sri Lanka, most people look up to the Government to address this issue, but the truth is told, the infrastructure and practices in place are outdated and inefficient. In essence, the local Government’s policy decisions in the waste management and recycling arenas have been extreme, often overlooking the long-term economic and environmental benefits that could be availed, in favour of an ‘easy-fix’ ban.

Local authorities are also a key stakeholder in ensuring proper and efficient waste segregation and management system. Their support in raising awareness and imposing strict rules and penalties to maintain proper waste segregation will not only empower the local recycling industry, but also reflect well as people now want to recycle, but the issue prevails in collection efforts.

Therefore, the local communities and the Government must take a strong stance in handling the country’s waste management issue, as the long term economic and environmental benefits definitively outweigh the complications and issues created by either neglecting the concerns in the local waste management and recycling sector or simply chucking the problem under the rug with another ‘ban’.

Waste management efforts must be strengthened so that waste plastic makes its way into the recycling economy. An easy solution to the plastic waste issue is also to have plastic go back into the system. However, this is currently prohibited in the country as it has been gazetted as mentioned above. Allowing recycled material to be used in food-grade packaging will further increase the demand for plastic recycling, a critical priority in our island nation.

The writer is the chairman at CMC Engineering Export GmbH, a member of the Melchers Group, engaged in importing an extensive range of technical products from quality suppliers from Europe and Asia, and is also a Past President of the Institute of Packaging)

The Central Bank of Sri Lanka has announced tomorrow (30) as a special half-day holiday due to in lieu of May Day which falls on a Saturday (May 1).

Sri Lanka surpassed US$ 1 billion exports in March 2021 after a lapse of six months. As per the Customs statistics, earnings from merchandise exports recorded double digit growth of 62.47% in March 2021 on y-o-y comparison –the March figure being US$ 1,066.1 million.

Earnings from merchandise exports increased by 11.51% in first quarter 2021 to US$ 2,954.53 million compared to first quarter 2020. This growth could be attributed to the gradual lifting of Covid 19 restrictions imposed within the country and globally. Export Development Board (EDB) Chairman Suresh De Mel (Pictured) said; “Sri Lanka’s exports show a remarkable rise despite the current pandemic situation across the World.”

Earnings from the export of major product sectors such as apparel, tea, rubber based products, coconut based, spices and electrical & electronic components were increased both in the month of March 2021 and during the first quarter of 2021. Export earnings from spices and essential oils in March 2021, increased significantly compared to March 2020- growth is mainly due to increased exports of cinnamon (1425.9%), pepper (140.58%) and cloves (226%). Both export earnings and volume of tea increased y.o.y. in March 2021 by 99.33% and 86.69% respectively. Tea exports of US$ 124.61million is 12% of total merchandise exports.

Earnings from all the major categories of coconut based products increased by 109.57% in March 2021 compared with March 2020 due to the improved performance in export of coconut oil, liquid coconut milk, cocopeat & activated carbon.

Similarly, earnings from the export of all the major categories of coconut based products increased by 42.18% during the first quarter of 2021.

Export earnings from rubber and rubber finished products increased by 80.45 % y-o-y to US$ 35.06 million in March 2021 due to the better performance of exports of industrial and surgical gloves of rubber (160.09%) and pneumatic and retreated rubber tyres and tubes (58.99%).

Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 83.09% to US$ 37.9 million in March 2021.

The single largest export destination of the United States of America recorded US$ 715.4 million worth of exports in first quarter 2021–a marginal increase of 0.94 % in comparison to US$ 708.76 million recorded in first quarter 2020.

The services exports estimated by EDB which includes ICT/BPM, construction, financial services and transport & logistics show exports of US $ 1,194.3 million for the first quarter of 2021 compared to US$ 993 million recorded in the corresponding period of 2020. Estimated service exports increased by 20.27% in the first quarter 2021 compared to the first quarter of 2020.

Litro Gas Lanka Limited said that the company will ensure that the 12.5 kg cylinders of gas will be made available to the public without any shortage.

The company has decided to ensure that the 12.5 Kg cylinders be made available to the public without shortage. “We assure our customers that our Regular 12.5 Kg cylinder is available in the market without any shortage at the same price,” the statement said. “As Sri Lanka’s national LPG provider with a heritage of over 150 years, Litro Gas Lanka has been known for its unique LPG expertise, delivering a specialised level of service that meets varied customer needs for energy,” the statement said“With a market share of 75%, Litro Gas Lanka has always upheld the highest level of trust placed in the Company by the consumers, while giving priority to maintaining the optimum safety protocols accepted by the LPG industry globally.

People’s Bank showcased its digital baking prowess yet again by completing a mammoth 5,822,504 transactions and dispensing Rs. 65.3 billion from April 1 to April 15 2021. This includes transactions completed via bank’s Internet banking, mobile apps ATMs, CDMs and Kiosks.

People’s Bank has been at the forefront of providing digital financial services to the rural areas of the country and has gained unparalleled success in turning Sri Lanka into a digital society. The bank pioneered Self Banking Units (SBUs), which was a concept that consisted of ATMs, CDMs and Kiosks which allowed customers to bank at their convenience, 24 hours a day, 7 days a week, 365 days a year. The Self Banking Unit concept has been a colossal success for People’s Bank.

Additionally, the bank’s People’s Wave App and People’s Wyn Apps have also changed Sri Lanka’s digital banking landscape. The People’s Wave App has over 1 million downloads and consists of over 50 different financial transactions and a host of modern banking features to help make banking easier for customers.

The People’s Wyn App was designed specifically for the corporate world, enabling business to authorize, approve, and conduct corporate transactions such as transfers, payments, remittances and much more easily and securely.

 Amid a spike in COVID-19 cases, the Association of Private Hospitals and Nursing Homes (APHNH) commended the Government’s decision to commence the roll-out of the second dose of the AstraZeneca vaccine, and called for the prioritization of private healthcare workers in the second vaccine drive.

According to State Minister of Pharmaceutical Production Channa Jayasumana, priority groups - primarily healthcare workers, the military, and the police - would be given precedence in the vaccine drive set to commence in the first week of May. Handling over 50% of out-patient care in the country, the Association reiterated the importance of private healthcare workers receiving the second dose alongside public sector medical staff. “As an Association, we’re grateful to Government officials and authorities that ensured that private healthcare workers were included in the country’s first vaccination drive in February. Nevertheless, only 50% of private medical staff has been vaccinated so far. We hope that as the second doses are rolled out, our frontline medical staff in the private sector will be considered a priority,” opined APHNH President, Dr.. Lakith Peiris. The Association noted that the Government is in possession of 350,000 vaccine doses of the 500,000 doses initially provided by the Serum Institute, and was hopeful that a quantity could be reserved for the members of private medical staff that had received the first inoculation.

“While we appreciate the Government’s tireless efforts to protect the public, the urgency of the second vaccine dose for healthcare workers is paramount. We’re deeply concerned that members of the medical staff of the private healthcare sector, who received the vaccine in February, have recently contracted COVID-19. The second dose will afford them a higher degree of protection, which is our main priority now.”

According to a press release from AstraZeneca, the Oxford/AstraZeneca vaccine remains to be 100% effective at preventing severe death and hospitalization.

“As concern grows over the country’s capacity to handle the pandemic, we would like to reassure the public that we are ready and standing by to assist the Government health forces. Throughout this crisis, private healthcare has played a complementary role to public healthcare in the country, and we hope that the invaluable contributions of private medical staff will be recognized and rewarded,” concluded Dr. Peiris.

According to official statistics from the Institute for Health Policy, the private healthcare sector accounts for Rs. 193 billion in expenditure on medical goods and services, which amounts to nearly 55% of the country’s total healthcare cost.

Economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, according to a new report from the Asian Development Bank (ADB).

The projected resurgence follows a 0.2% contraction last year, according to ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021, released today. The region’s growth is forecast to moderate to 5.3% in 2022. Excluding the newly industrialized economies of Hong Kong, China; the Republic of Korea; Singapore; and Taipei, China, developing Asia’s economic activity is expected to grow 7.7% this year and 5.6% in 2022.

“Growth is gaining momentum across developing Asia, but renewed COVID-19 outbreaks pose a threat to recovery,” said ADB Chief Economist Yasuyuki Sawada. (Pictured) “Economies in the region are on diverging paths. Their trajectories are shaped by the extent of domestic outbreaks, the pace of their vaccine rollouts, and how much they are benefiting from the global recovery.”

Rising exports are boosting some economies in developing Asia amid strengthening global economic activity, including a rebound in manufacturing. Progress on the production and delivery of COVID-19 vaccines has contributed to this momentum, but the pandemic remains the biggest risk for the region as potential delays in vaccine rollouts or significant new outbreaks could undermine growth.

Other risks include increasing geopolitical tensions, production bottlenecks, financial turmoil from tightening financial conditions, and long-term scarring—for instance, learning losses due to school closures.

Most economies in developing Asia will see healthy growth this year and in 2022. Central Asian economies are forecast to grow 3.4% on average this year and 4.0% next year. The trade-dependent economies of Southeast Asia will also recover, with the sub region forecast to grow 4.4% this year and 5.1% in 2022 after contracting 4.0% in 2020.

East Asia’s GDP is expected to grow 7.4% in 2021 and 5.1% in 2022. Pacific economies, still affected by global travel restrictions and a collapse in tourism, will post modest growth this year at 1.4%, before expanding by 3.8% next year.

India’s economy, meanwhile, is expected to grow 11.0% in fiscal year (FY) 2021, which ends on 31 March 2022, amid a strong vaccine drive. However, the recent surge in COVID-19 cases may put this recovery at risk. India’s GDP is expected to expand 7.0% in FY2022. This year, South Asia’s GDP growth is expected to rebound to 9.5%, following a 6.0% contraction in 2020, before moderating to 6.6% next year. According to their predictions (Graph) Sri Lankan GDP growth will be 4.6% in 2021.

The National Chamber of Commerce of Sri Lanka (NCCSL) in association with the Adana Chamber of Industry in Turkey will conduct a B2B Zoom meeting session for Sri Lankan corporate community in May 2021.

Business community dealing in various diversified sectors, such as Metal - Machinery and Equipments, Textile and Its Raw Materials , Food Industry, Tea, Herbal Products, Rubber Industry(Tires, Gloves)Textile and Garment, Plastic industry are expected to participate at the meeting.

The National Chamber is inviting Sri Lankan business community to register for the said programme and meet their counter parts in Turkey, Online.

Turkey was the 10th export market for Sri Lanka with a share of 2.11% in 2020.

The main items exported from Sri Lanka to Turkey in 2020 were, tea, vegetable textile fibers, apparel, used pneumatic tyres, man-made staple fibers, activated carbon, new pneumatic tyre , apparel accessories, lead oxides, Misc. articles of base metal, Misc. edible preparations, desiccated coconut, the National Chamber of Commerce of Sri Lanka said.

Registration could be done through email marketing1@nationalchamber.lk

An exclusive raffle draw titled ‘Parts Dala Dinanna Bajaj Genuine Parts Cash Back’ for Bajaj Genuine Spare Parts customers was launched by David Pieris Motor Company (Private) Limited, recently. The raffle draw is active from March 22 to May 31.

Customers who purchase Bajaj Genuine Parts for the value of Rs. 2,500 or more from DPMC Spare Parts Outlets and its dealers are eligible for this draw. To enter the draw, customers are required to WhatsApp a picture of the bill along with their name, address and ID number. Fifteen winners will be drawn weekly and will have their bills reimbursed.

All customers who qualify for the weekly draw will be eligible for the grand draw too, which will be held in June.

Bajaj genuine spare parts can be identified easily through the Baby Elephant symbol and DPMC hologram sticker on the spare parts package which assures customers of its genuineness.

Customers can confirm the authenticity of the spare parts by scratching the bottom of the hologram sticker and texting the number that appear.

DPMC ensures availability of genuine spare parts for all Bajaj vehicles through its spare parts and accessories outlets and dealer network islandwide.

Toyota’s new bZ subbrand shows the automaker has been busy with electric vehicles after all, complete with its own design language, platform and power train.

The automaker announced plans last week in Shanghai ahead of the auto show for a line of bZ-badged EVs, starting with the bZ4X Concept. The compact crossover kicks off Toyota’s scramble to catch the pack of rivals sprinting out of the blocks in the global EV race. When the futuristically styled electric utility vehicle goes on sale by mid-2022, it will be competing against the Volkswagen ID4, Kia EV6, Ford Mach-E and Tesla Model Y.

Although Toyota Motor Corp. is late to the game, it has been working on an EV portfolio for years. The Japanese automaker even previewed the lineup in 2019, outlining the technology behind the electric drive trains and teasing a new unified design language for the entire vehicle family.

The looks of the bZ4X cleave very close to a crossover mock-up that was unveiled alongside a slew of other EV models at that time, including a large SUV, small crossover, minivan, sedan and compact car. Toyota says six more bZ entries — likely realizations of those other concepts — will come to market as part of its bid to deliver a global portfolio of 15 dedicated electric vehicles.

Among those future offerings will be a pickup, in both hybrid and full-electric versions.

The bZ4X will be produced in Japan and China and sold worldwide. U.S. plans were not detailed.

The vehicle was jointly developed with Subaru, which is 20 percent owned by Toyota. The crossover is the first vehicle built on Toyota’s new e-TNGA dedicated electric vehicle platform and leverages Subaru’s all-wheel-drive technology.

Toyota’s future EVs are being developed at a new unit called the ZEV Factory, short for zero-emission vehicle. The EV architecture divides the car into modules, for the front, center, rear, battery and motor. The idea is to mix and match these building blocks into different body types.

The approach supports rear-, front- and all-wheel-drive layouts, as well as battery packs ranging from 50 kilowatt-hours to 100 kWh. The batteries will be mated to two types of motors, small or medium. Motor output is expected to range from 80 to 150 kilowatts.

The bZ name comes from “Beyond Zero,” Toyota’s catchphrase for its 2050 ambition to achieve carbon neutrality and have a net-positive impact on the global ecosphere and society.

(Automotive News)

Seylan Bank recently announced its partnership with local automotive provider, Indra Traders, to offer exclusive leasing solutions and benefits for all registered and unregistered vehicles.

The partnership will allow eligible customers to purchase a vehicle with special interest rates, free vehicle registration, and discounted insurance premiums.Seylan Bank is streamlining its leasing services to offer convenient and hassle-free leasing solutions, enabling customers to own a vehicle within a day.

Seylan Bank is committed to facilitating convenient leasing facilities and is ready to provide customized leasing structures to suit the consumer’s spending capacity with minimum documentation.

These options are uniquely structured to help SMEs and consumers looking for opportunities to own their dream vehicle.

McLarens Lubricants Limited recently launched the Mobil Super 3000 All-in-One Protection series in Sri Lanka, a synthetic motor oil product joining the existing Mobil Super 1000 and 2000 range in the market.

This launch proves to be a major shift in hybrid automotive care with the product providing a revolutionary All-In-One protection for all kinds of hybrid vehicles.

Mobil is a global leader in automotive lubricants, with over a century of experience with every kind of machinery imaginable, which led to the development of highly successful products like the ever-popular Mobil 1 motor oil. Mobil Super 3000 All-In-One Protection is formulated with Heat Activated Anti-Wear Molecule, which protect vehicles from high temperature wear while keeping the engine clean.

With this launch, for the first time in Sri Lanka, there is not a motor oil product that meets API SP and ILSAC GF-6A standards. Mobil Super 3000 All-In-One Protection exceeds the latest motor oil standards in order to deliver a superior fuel economy, better engine wear protection and cleanliness while reducing low speed pre-ignition damages in modern turbocharged engines. 

The Mobil Super 3000 range is being launched with two viscosity grades. The first of which is a 0W-20 grade, which is most suitable for hybrid engines, whereas the 5W-30 grade on offer is suitable for both petrol and hybrid engines. 

“Modern Engines prioritize performance. Performance that results in higher heat and higher stress levels, which are detrimental to its health” said Chaminda Gunaratne, Joint Managing Director McLarens Lubricants Limited, Automotive Division “Mobil Super 3000 All-In-One is the perfect solution with its heat-activated anti-wear molecules that protect your vehicle from high-temperature wear while keeping the engine clean.

ExxonMobil is the world’s largest publicly traded international oil and gas company with operations across the world. The Mobil brand has been a world leader in lubrication technology for over a century, keeping home and industry running faultlessly. McLarens Lubricants is the sole agent for Mobil Lubricants in Sri Lanka and the Maldives.

The Ministry of Tourism will invest over Rs. 519 million for tourism development projects this year. The need for engaging in work so that tourist attraction is protected when developing infrastructure facilities in tourist zones was also emphasized.

Minister of Tourism Prasanna Ranatunga has advised officials to pay special attention regarding this when the annual development plan of the Ministry of Tourism is being implemented. A sum Rs. 100 million has been allocated for the development of historic Dutch Forts while Rs. 37 million has been reserved for developing current tourist attraction venues. The renovation of ancient forts in Mannar, Kalpitiya and Batticaloa has already commenced. Also, a sum of Rs. 265 million has been set aside for constructing 30 intermediate houses in the vicinity of the Madhu Church in Mannar and it is a joint project between Sri Lanka and India.

In a bid to offer more infrastructure facilities Rs. 62 million has been reserved for developing railway stations that attract tourists. The Minister gave these instructions during a discussion held yesterday to inquire into the progress of development projects being carried out by the Ministry of Tourism. A number of development projects under developing infrastructure facilities at places of tourist attraction, including construction of the approach path to Yala Galge, the viewing platform at Madulsima, Small World’s End and development of infrastructure facilities for tourists visiting Bopath Ella have already commenced.

With the intention of developing the HR aspect Rs. 45 million has been set aside for the development of human resources in the field of tourism.

This initiative training of those engaged in the field of tourism, covering all provinces of the island is already underway. By March 31, 1042 persons had received training at 21 centers in 11 districts. A sum of Rs. 10 million has been allocated for the tourist village projects.

Under the community-based tourist village’s project, seven tourist villages are in operation. Arrangements have been made to introduce seven new websites in relation to these tourist villages. Under the programme to modernize railway stations, Badulla, Bandarawela and Nuwara Eliya Railway Stations are being modernized. Expressing his views, Minister Prasanna Ranatunga strongly emphasized the need to implement tourism development work jointly by the Ministry of Tourism and the Tourism Development Authority.

Due to this development work being carried out based on requirements of officials on certain occasions, the Minister who pointed out that various conflicts arise, also emphasized that when infrastructure facilities are constructed in tourist zones,they should bedone so that tourist attraction were protected. Secretary to the Ministry of Tourism, S. Hettiarachchi, Additional Secretary Deepa Sannasooriya and Chairperson of the Tourism Development Authority Kimali Fernando also expressed their views.

AIA Sri Lanka is proud to be recognised as the Best Life Insurance Company in Sri Lanka for the second consecutive year, by the internationally acclaimed Global Banking and Finance Review. (Awarded for 2019 and 2020) This prestigious recognition followed a detailed assessment of key performance indicators by the UK-based media powerhouse that analyses the financial industry and the global economy. The award is testimony to the significant contribution made by AIA Sri Lanka to the life insurance industry.

AIA has many attributes that contributed to this award, including having the strongest Capital Adequacy Ratio (CAR) in Sri Lanka’s insurance industry, making it the best disposed to withstand risk or crisis. This was most evident during the recent Covid 19 pandemic during which AIA was able to stand strong, honour all claims and continue business uninterrupted. AIA’s stability is supported by a prudent investment strategy and high quality of investments.

AIA Sri Lanka has always exceeded expectations with a track record of paying better than promised policyholder dividends for over 30 years. The company’s innovative digitalisation efforts and focus on ease-of-doing business has strengthened its reputation of being a truly customer-focused insurer. Keeping a keen eye out for customer needs and addressing them ahead of time is something AIA does well, as with the case of pioneering the introduction of telemedicine services in the industry, well ahead of the pandemic.

AIA’s groundbreaking efforts to move away from being just an insurance provider to a partner in their customers’ wellness journey is rooted in its brand promise of helping people live healthier, longer, better lives. The ultimate goal is to facilitate an entire ecosystem that helps customers become healthier, wealthier and happier. Most recently, the company announced the introduction of 06 free consultations with Sri Lanka Medical Council registered Wellness Specialists via the oDoc app, for all customers with an Annual Premium of above Rs. 100,000/-. AIA also continues to promote health and wellness through the AIA Vitality programme, which includes pioneering initiatives such as ‘Sri Lanka’s Healthiest Workplace Survey’ which aids workplace wellness.

The company has also been recognised as a Great Place to Work® in Sri Lanka for eight consecutive years and as a ‘Best Workplace for Women’ in Sri Lanka for 03 years straight. These awards demonstrate the company’s great workplace culture which encompasses equality, inclusivity and opportunity to grow.

AIA is well connected to the community and is a company with a big heart. Be it the partnership with the Sri Lanka Cancer Society, renovating underprivileged schools and hospitals around the island, saving lives during Poson, providing free covid covers for health sector workers and donation of PPE equipment or providing higher education scholarships, AIA Sri Lanka is a company that prioritizes giving back to the community.

Throughout it all, AIA Sri Lanka’s mission has been to help Sri Lankans become physically and financially strong while enjoying life to the fullest.

Displaying signs of a promising future, Treinetic (Pvt) Ltd, an innovative software product engineering company, won two awards at the e-Swabhimani 2020 organized by the Information & Communication Technology Agency of Sri Lanka.

Each year ICTA organizes this prestigious awards ceremony to recognize excellence in digital application creation that would serve society’s needs.The company secured two merit awards; one for their own product, “Examiner” for the Learning & Education category, and the other is for another product known as “Poth” for the Digital Entertainment category. Imal Perera, CEO, and Gihan Wijesinghe, Director, received the awards on behalf of the company. Examiner is a mobile application that is specifically designed to uplift the knowledge of A/L and O/L students. It was so popular that more than 10,000 students joined with Examiner during last year’s Covid-19 pandemic to prepare themselves better for the examinations.

“We all know with the pandemic large number of corporates went digital, by doing that most of them reduced their losses and some made large profits, with our technical expertise 100 years old, yet innovative publication giant M.D Gunaseana found a new venue in the publishing industry with their product “Gurulugomi”. what I believe is that only the companies with a good digital strategy will survive in the coming years, so I invite all of the corporates to join hands with us and let us empower your organization with technology.” Imal Perera, CEO of Treinetic said. Treinetic (www.treinetic.com) is an award-winning software product engineering company serving both local and foreign clients since 2014.

They await new opportunities to contribute to the market and society.

DP Logistics (Private) Limited (DPL) recently commenced a warehouse operation facility in Ranna in addition to its facility in Matara, to cater to the ever-growing logistics requirement in the Southern part of the country.

With its increased customer-centric approach and through this new warehouse operation, DPL intends to add value to logistics operations of assembling, pick-and-pack etc., while optimally using the strategic location for overall customer benefit.

The gamut of supply chain solutions DPL offers include transportation, third party logistics (3PL) including Warehouse Management, Freight Forwarding and consistently exceeds traditional norms in logistics to provide customized solutions.

The company is well supported by an experienced fleet management team, professionally trained drivers, assistants and maintenance personnel, which has resulted in DPL’s transportation solutions being renowned for reliability, professionalism, and emphasis on safety.

Commenting on DPL’s capacity to be agile and deliver timely end-to-end logistics solutions Dhanushka Jayasinghe Head of 3PL at DPL said, “More than ever, planning well in advance for the unpredictable logistics needs of our clients with a strategic presence will certainly be a competitive advantage in the post pandemic market space.”

Further reinforcing DPL’s commitment to clients in its customer-centric approach, Laksiri Kumarasinghe Chief Operating Officer of DPL said, “Within a very short period we have been able to setup a facility at Ranna which provides a comprehensive logistics services to clients. This strategic location has further enhanced our 3PL capabilities”.

A member of David Pieris Group of Companies, DPL offers fully integrated and tailor-made Logistics Solutions using strong business insight.

The iconic Baurs building situated at Upper Chatham Street in Fort, one of Colombo’s strong and long-standing corporate buildings of colonial times, celebrates 80 years.

This elegant, imposing structure and a well-known architectural landmark houses the Head Office of one of Sri Lanka’s leading diversified business group A. Baur & Company Ltd. Since its humble beginnings in the year 1897 by Swiss national Alfred Baur, the company’s philosophy, value systems and culture are deeply rooted in its Swiss heritage till today.

The Baurs building, the first shock-proof building in Colombo completed in 1941 and securely located within the Navy Headquarters zone, has seen ten managing directors come and go, nine of whom were Swiss nationals with the most recent being a well-known Sri Lankan business personality, Lakshman Niyangoda who now serves as the company’s Non-Executive Chairman.

‘This year marks a historic event in the Baurs journey as our building at Fort marks its 80th anniversary. The walls of this building have heard and witnessed all our plans, prayers and passion and we have a very emotional connection to it. The refurbishment done to the front arenas of the building giving it a modern outlook resembles our ambitious intentions to embrace the future whilst living up to our century-old Swiss values,’ said Lakshman.

Baurs’ distinctive reputation stands for its trust and reliability, quality and innovation.

The company’s bold approach has resulted in initiating many industry’s firsts in Sri Lanka. Widely regarded as an industry pioneer, Baurs is the first company to focus on agriculture fertilizer since 1897.

Its fertilizer factory located in Kelaniya is one of South Asia’s most advanced, fully automated plant. The culture and values at Baurs are similar to that of its parent Genève-based Alfred et Eugénie Baurs foundation. Just like the foundation, Baurs continuously engages in numerous social responsible agendas in the infrastructure, knowledge, and training domains, with the view of uplifting communities and rural towns in Sri Lanka.

Spectrum Institute of Science & Technology (SIST) celebrates 20 year of academic excellence.

The occasion was marked with multi religious ceremonies followed by a tree planting ceremony held at the facility.

SIST has traversed two decades of academic excellence since its inception, through which it has grown from strength to strength. A pioneer in life sciences in Sri Lanka, SIST was first established in 2001 by its founder Chairman Jayanthan Kulasingham with the aim of aspiring youth and to train young scientists in the fields of research and development, thereby enhancing human capital.

SIST now offers a number of overseas degrees in the fields of life sciences, engineering technology, business and Information technology, recognized by the University Grants Commission of Sri Lanka. SIST is the collaborative partner of Edinburgh Napier University, UK and the Lincoln University College, Malaysia.

SIST is also the examination partner of the Indian Institute of Technology, Madras for their online education programme.

The Scientific Advisory Board of SIST comprises of Professor Shervanthi Homer-Vanniasinkam, consultant vascular surgeon Leeds General Infirmary, UK, Professor Frances De Silva, former Vice Chancellor - University of Moratuwa, Prof. Sarath Gunasekara, former Chairman of Mechanical Engineering, Ohio University and Bala Mahendran, former CEO of Basildon County UK.

The Research and Development Committee of SIST headed by Prof. Chandrani Wijeratne former Head of Botany, University of Sri Jayawardenapura, Sri Lanka and Dr. Pathmasiri Ranasighe (Director, Herbal Technology Section, Industrial Technology Institute, Sri Lanka) works with faculty and students in performing active research.

SIST believes in providing students with the ultimate university experience. Thus, Spectrum Students’ Society operates underfive main avenues; community service, green army, performing arts, sports, visual communication and digital media. The student magazine “The Spectrum” opens up opportunities for students to voice their opinions to the public.

Commercial Bank’s Chief Operating Officer Sanath Manatunge and Colombo City Centre Chief Executive Officer Praveen Methil exchange the agreement. Also pictured are Colombo City Centre; Tuan Haniffa, Amila Niranjan, Suranga Peiris, and Hirushka Fernando. Commercial Bank; Sandra Walgama, Hasrath Munasinghe, Pradeep Banduwansa, Dushmantha Jayasuriya, and Hasela De Silva.

Buyers of apartments at Colombo City Centre (CCC) Residences can now enjoy the special benefits of a Zero interest and fees investment scheme which is a Developer Interest Bearer Scheme, following a partnership between the Commercial Bank of Ceylon and the developer of CCC Residences, the Abans Group.

Under this collaboration, customers can receive up to 80% of the purchase value of an apartment as a Home Loan from the Bank while CCC will undertake to pay the monthly interest on the loan for up to 24 months on the buyer’s behalf. Further, as an additional benefit, CCC will also pay the management fees for the first two years on behalf of the customer, thereby leaving the customer to pay only 20% to take over the units and pay nothing for the next twoyears.

The Home Loan tenure under this special scheme will be up to 20 years, the Bank said. Colombo City Centre will settle the monthly interest for up to 24 months at the prevalent market interest rate subject to a maximum interest amount.

Commenting on the partnership, Commercial Bank Chief Operating Officer, Sanath Manatunge said, “We are happy to support one of the leading property developments in the country by facilitating the purchase of apartments for prospective buyers. With the Developer Interest Bearer Scheme in place, the payment burden on our borrowers is substantially reduced as they do not have to bear the interest cost of the loan andcan move into their new apartments just paying the buyer’s contribution of 20%, which is a great benefit for the customer.”

Colombo City Centre Residences comprise a total of 192 luxury apartments of 2 BR, 3 BR and Penthouses. The backing of the corporate powerhouse Abans PLC, the main partner in developing this project, saw the project through to completion, amidst turbulent market conditions. Having completed the shopping mall and the residences, the developer is now looking forward to making the exciting announcement about the opening of the international hotel in 2021.

Colombo City Centre Director Sales, Hirushka Fernando commented, “Partnering with one of the most esteemed banks in Sri Lanka as Commercial Bank gives immense opportunity for many customers to enjoy the benefits of this revolutionary payment scheme to own ready-to-move-in apartments in the heart of Colombo by paying just 20% and nothing for the next two years.”

The Hi-Fi Centre, a leading provider of professional audiovisual solutions has recently successfully installed professional smart classroom/training room solutions comprising of a Digital Smart Podium with the interactive facility having the ability to convert the same to an Audio Video Conferencing System for huge rooms with expansive capabilities including training and conference rooms at Mumtaz Mahal (National Defence College Sri Lanka) premises and the solutions were optimised for compatibility, performance and pre-configured to meet the most challenging situations.

Adhering to the customer (Mumtaz Mahal’s) requirement to deploy solutions to conduct lectures and training sessions to officers in the tri forces and for all their meeting spaces to confidently work well, providing excellent audio and video conferencing facilities in the room and simultaneously catering to remote participants, the Hi-Fi Centre with their expert team of professionals supplied and installed the total audiovisual solution consisting of sound systems, audio and video conferencing, lecturing with a digital smart podium, CCTV indoor monitoring system and smart interactive projection, providing a family of integrated solutions comprising of high-end brands such as Epson projectors, DB technologies speakers, Soundcraft audio mixers, Beringer audio splitters, CCTV cameras and NVRs and AONI VCI. Video conferencing cameras especially for meeting and training spaces, enabling the customer to easily deploy and scale high quality conferencing within their institution.

The Hi-Fi Centre set up their complete smart classroom/training room solutions offering customers advantages that extend far beyond superb conferencing audio. The result is a complete customised solution that provides significant cost and time savings, as well as customer confidence in crystal clear communication within every meeting space. The Hi-Fi centre a subsidiary of The Debug Group of Companies being in the sound space for over 50 years, acquired by The Debug Group, one of the largest ICT product, service and solutions company in Sri Lanka 13 years back has been audiovisual solutions arm of the group. Hi-Fi offers a wide range of solutions comprising professional audio products, projection products and consumer AV products, including some of the leading brands in the industry.

The company specialises in professional audiovisual and catering to the growing demand for broadcast solutions, survey equipment, laser alignment tools, GPS systems and construction testing equipment.

The Hi-Fi centre has been actively involved in high-end installations at well-known places such as the University of Technology Sydney (UTS) Institution for Classrooms Smart Interactive Audio Visual System and Wireless Audio Conferencing System for four different conference rooms catering to an attendance capacity of over 100 at the UNDP premises. Audiovisual system for a mini auditorium with a digital interactive smart podium, sound systems, audio and video conferencing, CCTV indoor monitoring system and smart interactive projection were implemented by the highly capable Hi-Fi team at the well-known Arthur C. Clark Institute for Modern Technology.

The University of Sri Jayewardenepura – Science Faculty’s solution consisting of Boardroom Audio Conference System with Sound System and Sri Lanka E-Commerce Building solution consisting of Wireless (WiFi) Conference System with Sound System are some of the clientele in their myriad list of installations carried out by the technically adept Hi-Fi Centre with some of the leading brands in the industry installing conference systems that are futuristic reliable and efficient, delivering superb sound and imaging quality to meet the most demanding situations.