Adaderana Biz English | Sri Lanka Business News

Former Managing Director of Sampath Bank, Aravinda Perera, has reportedly been appointed as the new Managing Director of Royal Ceramics Lanka Plc. He was appointed to the position left vacant by the resignation of Nimal Perera on March 07, 2016. Aravinda Perera is the former Managing Director of Sampath Bank PLC and was appointed as a member of the board of directors of Hayleys Group in September last year. He is also a Fellow Member of the Institute of Bankers, Sri Lanka, and Fellow Member of the Chartered Institute of Management Accountants, UK, Chartered Engineer and member of the Institute of Engineers, Sri Lanka. He is a recipient of the “CEO Leadership Achievement Award 2016” from the Asian Banker.

Jaguar Land Rover UK’s largest automotive manufacturer continues its long standing partnership with Colombo Fashion Week (CFW) in its Summer edition. Jaguar is one of the world’s premier luxury sports sedan and sports car marques and Land Rover remains as the world’s leading manufacturer of premium all-wheel- drive vehicles. The two iconic British brand’s proudly partner with CFW in support of developing the fashion industry and creating a platform for the next generation of designers. This season, Jaguar brings to guests the powerful and agile sorts car, the F-Type along with the F-PACE, Jaguar’s first performance SUV and family sports car. The All-new Discovery will be exclusively unveiled by Land Rover. Guests can immerse themselves in a virtual experience using the latest digital technology. Outstanding design has been fundamental to everything Jaguar has done in its rich 81-year history. Jaguar products has always been among the most beautiful, elegant and dynamic cars the world has ever seen, such as the iconic Jaguar E-Type, exemplified today by the All-new F-PACE, a performance SUV and the desirable F-TYPE. With a no-compromise approach to design and engineering, the Jaguars of tomorrow aim to continue to set the standard for the next 80 years. The simplicity and purity of Land Rover’s design is as important to the company now as it was in 1947 when Maurice Wilks sketched out the concept for a “Go Anywhere” Land Rover on a sandy beach in Wales. Land Rover’s design philosophy is guided by the four key elements of: innovation, sustainability, relevance and desirability, to create its distinct vehicle families. Land-Rover-New-Discovery

Guests at Colombo Fashion Week will be privy to a range of Jaguar Land Rover vehicles along with special offers and viewings. SML Frontier Automotive (Pvt) Ltd, the sole agents for Jaguar Land Rover, UK’s largest automotive manufacturing business in Sri Lanka offers the entire range of Jaguar and Land Rover vehicles at the world class showroom located at No. 74, Flower Road, Colombo 07.

Siam City Cement (Lanka) Ltd, (earlier known as Holcim) announced the appointment of Nandana Ekanayake as the Company’s new Chief Executive Officer. He was the Finance Director and Head of Divestment project of Siam City Cement (Vietnam) Ltd, (formerly known as Holcim Vietnam Ltd) and will take over the reins of INSEE Cement in Sri Lanka from Phillippe Richart, who has accepted the position of General Director (CEO) in Vietnam. Nandana was the Finance Director of Holcim Vietnam since June 2007 and held the acting CEO position in several occasions in Vietnam and Sri Lanka in the past. Prior to that he was the Vice President, Finance & Controlling of Holcim (Lanka) Ltd. He has considerable experience in senior management level not only at Holcim Lanka, but also at Ruhunu Cement and Hayleys Ltd. During his tenure in Sri Lanka he was instrumental in restructuring and merging Ruhunu Cement and Puttalam Cement Co Ltd into one legal entity named Holcim Lanka Ltd and led many projects including raising financing through a preference shares issue to refurbish the Puttalam plant after the initial merger. In Vietnam he was in charge of several mergers, expansions and acquisition projects during the process Holcim Vietnam became a major player in the South of Vietnam. Holcim Vietnam has the highest brand equity among the cement brands and won the award of the best employer in the industry for a few consecutive years. He is a Fellow Chartered Accountant (FCA) of the Institute of Chartered Accountants of Sri Lanka and is a Certified Public Accountant (CPA) and member of Institute of Certified Public Accountants (ICPA), Australia. Nandana has received leadership training at the London Business School and International Institute for Management Development, (IMD) Switzerland. Chairman of Siam City Cement (Lanka) Ltd., Paul Hugentobler, who announced the appointments on behalf of the Board of Directors stated “I wish both Nandana and Philippe every success in their new appointments.”

Hela Clothing, a leading apparel manufacturer, partnering with Microsoft recently embraced digital transformation to revitalize the apparel industry. As the shift to a more digitally enhanced manufacturing era accelerates, the opportunity to deliver long-term digital solutions and insights has accelerated Hela Clothing’s ambition for modern, secure and efficient solutions such as Microsoft’s Office365 and Hyper-V platforms. “Businesses that embrace digital transformation generate materially more operating income each year than those who do not,” said Brian Kealey, Managing Director for Microsoft Sri Lanka and Maldives. “And with Sri Lankan companies faced with evolving customer and employee expectations, it’s increasingly challenging to be productive without a comprehensive, board level digital transformation plan.” The partnership with Microsoft has allowed Hela Clothing to choose Office 365 — over a number of others including other cloud competitors — as its preferred means of collaborating and communicating in the workforce. The platform is described as comprehensive and congruent; designed only to drive up productivity, with features that include: email, social networking, team chat services, instant messaging, personal cloud file sharing, shared document workspaces and an enterprise portal. Furthermore, Hela Clothing opted to replace Red Hat Virtualization with Microsoft Hyper-V. A platform aimed at consolidating Hela Clothing’s digital infrastructure to remote desktop and application virtualization systems. As a consequence, Hyper-V has increased Hela Clothing’s hardware utilization by consolidating servers and workloads onto fewer and more powerful physical computers. Moreover, the platform decreased capital expenditure such as power and physical space. “Focusing on digital transformation with Microsoft’s secure and comprehensive cloud enabled platforms has played a crucial role to our success,” said Thilina Samarasinghe, Group Head of IT of Hela Clothing. “Now that Microsoft has reduced our capex on server hardware and increased real-time communication, productivity at Hela Clothing is at an all-time high. With Microsoft, we will remain committed to innovating and accelerating insightful intelligence across the apparel sector.” Further to the current deployment, Microsoft will continue to work with Hela Clothing to help them envision and implement more integrated platforms like Skype for Business through Microsoft Most Valuable Professional Partner, Infront Consulting Group. Country Manager for Infront Consulting, Susantha Silva added, “We visualized an IT roadmap for Hela Clothing solely on what its short and long term plans were. And now that the apparel giant has carried out the implementation, we are in the process of offering new insights for further digital transformation.” In this context, Hela Clothing has fully leveraged the opportunities of present digital technologies to become a forerunner in the apparel industry. From left: Harsha Guneratne-Managing Director, Hela Clothing and Thilina Samarasinghe-Group Head IT, Hela Clothing.

In an effort to offer optimum protection to professionals of the local television industry, Janashakthi Insurance PLC stepped forward for the second consecutive year to partner Raigam Tele’es, a highly anticipated annual tele awards ceremony in Sri Lanka. The Insurance provider continues to protect the lives of local artistes by offering a Life Insurance cover and a Hospitalisation cover, offering peace of mind through complete protection to its 135 nominees, significantly becoming the first Insurer to do so. “The Raigam Tele’es play a vital role in celebrating Sri Lanka’s rich, creative cinematic heritage, bringing to light the accomplishments and highlights of this vibrant industry every year. Further, the artistes that are recognised via this platform have contributed immensely towards society through sheer talent that has resulted in quality entertainment for the general public. It therefore gives us great pleasure to come on board once again to offer protection to each and every nominee of the Raigam Tele’es 2017, guaranteeing them complete peace of mind and security during this period, in a bid to safeguard the talented individuals who are integral to the future of this industry,” said Mr. Jude Fernando, Chief Executive Officer, Janashakthi General Insurance Limited. With the nominations to be announced shortly, the proceedings will culminate with the 13^th annual Raigam Tele’es, to be held at the Nelum Pokuna Theatre on 3^rd June 2017. The award ceremony, which began as a CSR initiative from local FMCG corporation, The Kingdom of Raigam, aimed at adding value to the Sri Lankan television industry, has continued on to being perceived a calendar highlight and an acclaimed platform to celebrate industry achievements year on year. “We are delighted to have Janashakthi Insurance, a leading Insurance provider in Sri Lanka, as a partner of the Raigam Tele’es for the second consecutive year. Going beyond celebrating Sri Lanka’s finest talent in the television industry, we believe that Janashakthi’s sponsorship will play a crucial role in helping safeguard some of Sri Lanka’s most loved personalities. We look forward to an illustrious event this year as well, with an assurance of guaranteed protection from Janashakthi,” said Mr. Ganaka Amarasinghe, Managing Director, Raigam Group of Companies. Janashakthi Insurance PLC, founded in 1994, made its mark in the industry as an innovator and household name over a span of two decades. As an organisation that thrives to deliver excellence in Customer Service by addressing the Insurance needs of its customer base, Janashakthi has an island wide branch network of 113 branches, a 24-hour call centre and around the clock assessor service. Today, the Company stands strong as a leader in Motor, Non-Motor and Life Insurance services, and continues resolutely on its vision of lighting the lamp of Insurance in every home and work place.

Unilever Sri Lanka, a company with a 100 year proud history in the country, continues to endear itself to the hearts of people across the island as it walks away as the undisputed FMCG brand leader at the recently concluded SLIM-Nielsen People’s Awards 2017. The FMCG giant’s flagship brands Sunlight, Vim, Lifebuoy, Signal and Laojee all secured prestigious awards. This recent win continues to validate Unilever’s philosophy of Doing Well by Doing Good which has secured it a big place in the hearts and homes of consumers. The night saw Sunlight, one of the nation’s most iconic brands, voted ‘Household care brand of the year’; Lifebuoy, Unilever’s flagship germ-protection brand, voted ‘Youth FMCG brand of the year’; Signal, the most trusted oral care brand, voted ‘Personal Care brand of the year’; Laojee, Unilever’s rich blend of Ceylon Tea, voted Beverage brand of the year; and Vim, Sri Lanka’s household name for dishwashing, voted ‘FMCG brand of the year’. Commenting on the victory, Carl Cruz, Chairman – Unilever Sri Lanka said, “We are once again honoured to be recognized at the SLIM Nielsen People’s Awards which, unlike other awards, is a reflection of the people’s choice. These awards are a testament to the love and trust our brands have garnered from the community over the years and I am proud to say that we have become a part of their daily lives.” People’s Awards is an annual, flagship event organized by the Sri Lanka Institute of Marketing (SLIM) in partnership with Nielsen Sri Lanka. It holds the distinction of being the only award show in the country to be based on a nationwide independent survey. The awards recognize brands and personalities that have made an impact in the lives of people in Sri Lanka. Caption – A jubilant Unilever Sri Lanka team collecting the ‘FMCG Brand of the Year’ award for Vim at the SLIM Nielsen People’s Awards

Reuters – Sri Lankan shares fell to a near one-year closing low on Tuesday as expectations of an interest rate hike weighed on sentiment, after the International Monetary Fund urged the Sri Lankan central bank to tighten monetary policy. The Colombo stock index closed 0.4 percent lower at 6,046.79, its lowest close since March 30, 2016. The index shed 0.3 percent last week, posting its third straight weekly decline. The IMF urged Sri Lanka’s central bank last week to be ready to tighten monetary policy if credit growth or inflation did not abate. The central bank’s second monetary policy review of the year is due on March 24. “Retail investors are looking at fixed deposits. Investors will wait until the rates come down or they will invest only if something that could boost the market happens,” said Prashan Fernando, who heads Acuity Stockbrokers. Shares of Sri Lanka Telecom Plc closed down 2.9 percent. Biggest listed lender Commercial Bank of Ceylon Plc ended 1.1 percent weaker, while conglomerate John Keells Holding Plc fell 0.4 percent. Foreign investors net bought shares worth 112.8 million Sri Lankan rupees ($745,046) in the tenth straight session of net-buying, raising the year-to-date net foreign inflow to 2.29 billion rupees in equities. Turnover stood at 888.2 million rupees, higher than this year’s daily average turnover of 683.8 million rupees.

“For those interested in taking control of their own finance, with an aim to create sustainable wealth, there is no better place to start than ‘Money Market Accounts’. Investing in these allow for the safety and liquidity of traditional bank savings but, often, with higher rates of return”, according to Christina Wesley, a Financial Advisor at NDB Wealth. In particular, “Money Market Accounts” from NDB Wealth offer up a number of added benefits that make them more desirable as nontraditional savings choices. For example, the flexibility to make penalty-free cash withdrawals at any time, your earnings being credited to your account daily, and earnings being tax-free in the hands of customers. However, added Ms. Wesley, the best feature of NDB Wealth’s ‘Money Market Accounts’ is without doubt its remarkable earnings potential, which is significantly higher than the interest earned from the average bank savings account in Sri Lanka. “Many of our clients beginning with basic savings products, like our popular ‘Money Market Accounts’, are soon so emboldened, they go on to build sophisticated, sustainable wealth plans, with our help of course. Aided by the exemplary advice that only NDB Wealth can provide, our customers have used our expertise to help them build long-term and sustainable solutions to meet some very unique requests, from securing a worthwhile retirement income, to creating a self-sustaining college fund for their children”, revealed Ms. Wesley. For more information on NDB Wealth’s “Money Market Accounts”, visit www.ndbwealth.com.

Sanasa Insurance Company Ltd (SICL), a leading micro insurance provider with an aim to improve and uplift peoples’ lives all across the country, emerged as the winner in the SME category at the recent ACCA Sustainability Reporting Awards. Held at Cinnamon Grand on February 28th, the Association of Chartered Certified Accountants (ACCA) Sri Lanka rewarded the country’s most transparent, accountable and responsible entities at its annual flagship event, which is a competition with a view to recognizing business entities striving to comply with GRI (Global Reporting Initiative) standards and have demonstrated excellence in sustainable development. Indika Kiriwandeniya, General Manager of SICL, said ‘We are delighted to have been recognized as one of the most responsible business entities in Sri Lanka. This goes on to exhibit our commitment in going beyond the expectation in improving quality of lives and also posses the highest level of sustainability compliance in the industry.’ The company seeks to uplift peoples’ lives by focusing on them at a grass root level as most have no access to financial assistance from banks due to a lack of assets. Its micro insurance policies are geared to improve the current living standards for those seeking assistance. ‘SICL is a unique company in the industry as it goes hand in hand with the Sanasa movement and does not belong to one individual owner but to the community at large. 95pct of the benefits are flown to every member through the Sanasa societies in villages,’ Kiriwandeniya added. Sanasa maintains relationships with 8400 societies throughout the villages in Sri Lanka, with a membership of over 3 million Sri Lankans. The micro insurance schemes offered by the company are available to every member through these societies. Unlike the traditional structure of a corporate where documentation plays a vital role, here a villager who seeks to receive a loan must get the approval of the board of members in his or her Sanasa society. As the community at large in a rural village are familiar with each others’ history and can vouch for a person, the society can make an accurate decision regarding whether an individual can be trusted. The event recognized companies under the categories Conglomerates and Diversified, Banking, Financial Services and Insurance, SME (turnover less than Rs. 1 bn), Retail and Trading, Leisure and Connected Services and General Services and Utilities. Sanasa Insurance Company Ltd is a leading micro insurance provider focused on uplifting and empowering the people at the grass root level. The company has conducted numerous programs in villages to maintain and develop sustainability. While the micro insurance schemes aid them in developing their living conditions and entrepreneurial endeavors, the company also focuses on better educating the children of the communities, encouraging their talents to shine through various programs, amongst others. SICL continues to work with the Sanasa Movement to improve the society. Photo Caption :Indika Kiriwandeniya- General Manager of Sanasa Insurance (second from left) with the award. From L-R: Country Manager ACCA Sri Lanka Nilusha Ranasinghe, Chief Guest Resident Representative UNDP Sri Lanka Una McCauley, President Member Network Panel of ACCA Sri Lanka Adrian Perera

Fashion and trends evolve in the blink of an eye and it is imperative for the fashion-forward modern generation to have a constant supply of the latest global and local trends at affordable rates from a convenient location. Although Colombo has many clothing stores, few can boast to cater to all these needs. Ennigma is one of them. The retail clothing store situated in the heart of Rajagiriya is home to a wide variety of clothing, including trendy men’s, women’s and kids’ collections. The chic store also stocks women’s accessories, shoes and handbags. The store first opened its doors to the public in 2006 at Elvitigala Mawatha before moving to Borella and then to its current location in Rajagiriya. Rajagiriya is a bustling suburb that is soon becoming a modern metropolis with many of the state sector offices moving to the locality, several luxurious apartment complexes coming up and the new overhead bridge. Ennigma’s flagship store is easily accessible and found at the heart of Rajagiriya town, adjoining Sacred Heart Church and the main bus stand in a whitewashed building that clearly stands out. Besides the large collection of clothing items, and the ample parking space for greater customer convenience, the store also offers a loyalty card program. Each customer that walks out of the Ennigma store after making a purchase gets the privilege of having points added into the loyalty card. The loyalty card also offers discounts and many more offers when purchases are made at the store. The store also recognizes the importance of social media in terms of interacting with their loyal customer base so they hope to orchestrate different competitions and giveaways through social media that will help strengthen the bond between the clientele and the brand. The competitions will work in a way where the young and trendsetting customers of the store that follows the store on Facebook will be asked to post pictures in their Ennigma clothing and the management will pick the best out of the bunch to reward with discounts on their future purchases. In terms of future plans for the store, the owners intend on partnering up with an international brand to house a coffee shop on the premises of the store. The coffee shop that will be built in the near future will be the ideal place to grab a quick bite to eat and enjoy a cup of coffee after sorting through the large collection of stylish clothing they house. For more information please contact Ennigma on 0112887979 or visit their Facebook fan page https://www.facebook.com/Ennigma-552509344897481/ Enigma-Image-II

Department of Census and Statistics (DCS) has released monthly Index of industrial Production (IIP) for January 2017.

According to the Director General of DCS, Dr. A.J Satharasinghe from January, 2017 the IIP is released monthly with a time lag of 42 days considering 2015 as the base year. He stated that the IIP; the volume of industrial production has increased by 0.7% in January, 2017 compared to the same month in 2016. Manufacturing industries; other non-metallic mineral product (24.7%), Electrical equipment (12.2%) and Basic Metals (9.1%) showed remarkable increase in productions during the month of January, 2017 compared to that of January, 2016. The increase in volume of production of Non-metallic mineral product industry could be attributed to the growth of construction industry in the reason past. The volume of food products has increased by 1.6 % in January.The industries; Coke and refined petroleum products (44.2%), Chemical and Chemical product (23.2%), and Paper and Paper product (5.0%), reported decrease in the volume of production in the month of January compared to the monthly production of these industries in January 2016.

Development Strategies and International Trade Minister Malik Samarawickrama accompanied by Ambassador Rodney Perera met with European Commissioner for Trade Cecilia Malmström on 12th March at the European Commission in Brussels.

The Minister discussed with Commissioner Malmström prospects for increasing bilateral trade and investment from the European Union with the enhanced opportunities expected following the Commission recommendation to restore the GSP+ facility to Sri Lanka. It was noted that bilateral trade turn over currently stands at approximately USD 5 billion annually and the EU accounted for 36% of Sri Lanka’s total exports last year. Minister Samarawickrama discussed the prospects for increasing investment and invited European companies to do business with Sri Lanka. He stated that there are many opportunities to invest in infrastructure development and also in the agriculture and dairy sector with the possibility of joint ventures. The Minister referred to the resumption of the EU Sri Lanka Investment Dialogue in January this year after a lapse of many years. Commissioner Malmström expressed confidence that European investors would increasingly look at the favourable opportunities available in Sri Lanka in the context of the positive steps taken by the Government to create an investor friendly climate. It was noted that a high level delegation from the European Investment Bank (EIB) will visit Colombo at the end of this month to explore further avenues of economic cooperation between the EU and Sri Lanka. Minister Samarawickrama briefed Commissioner Malmström on the steps Sri Lanka is taking to bring about reconciliation, strengthen good governance and respect for human rights and the regular dialogue with the EU on matters of mutual interest. He also extended an invitation to Commissioner Malmström to visit Sri Lanka at an early opportunity to which the Commissioner responded positively.

The Marina, an exclusive member club built overlooking the calm and tranquil Bolgoda Lake, is the ideal getaway to enjoy a fun-filled, adventurous day or be at peace of mind by indulging in an aura of relaxation. The novel concept by Debug Hospitality and Leisure (Pvt) Ltd was started with the aim of promoting and encouraging water sports in Sri Lanka by creating a safe, private and luxurious environment for watersports enthusiasts to gather, learn and experience the lifestyle and to foster a community of like minded individuals with a love for water and the oppurtunities to adventure it provides. The Marina is only a fourty-five minute ride away from Colombo and therefore makes it the perfect setting to exclusively enjoy quality time with your family, friends or office colleagues, or experience adrenaline-filled watersport activities. The friendly staff at The Marina with years of experience in the local and global hospitality sector is driven to serve customers from every corner of the country on and out of water. The Marina at Bolgoda offers the highest level of exclusivity for its members which helps the club to maintain its standard with a touch of class and quality and serve their clientele with great attention to detail. The Marina also offers a unique one-day recreational package called ‘Day Pass’ of which a total of 30 passes will be issued on any given day on a first-come first-serve basis. The Marina Day Pass entitles customers to enjoy a plethora of fun-filled activities and gives customers the choice to choose what they would love to do the most – to ride a high-speed jet ski in full throttle or to read a book overlooking the pristine swimming pool, indulging on a delectable meal prepared in-house. The club offers a wide range of water sports activities – jet-skiing, tube rides, wakeboarding and boating, to name a few, making it a one-stop shop for the water sports enthusiast from every corner of the country. Apart from these activities, Marina has a members-only water craft fleet where they have unlimited access to boats seven days a week. With valet racks for members capable of accommodating their own boats and PWCs, trained personnel on deck will assist members with fueling and launching their boats and crafts, on-site maintenance, servicing and assuring safety while they enjoy a ride on the water. The club also has a water sports training center where members can learn the skills of boating and skiing with professional training. If it is just for luxuriate tension-free, quality time with your family or friends, The Marina has all the amenities one looks for. The pool with an underwater music system provides the ultimate joy and hours of relaxation or you can say good bye to a very hard day by getting into a hot Jacuzzi by the pool. The lake-front cabanas are perfect to enjoy the tranquility of the picturesque Bolgoda Lake with mellow tune playing in the background. The in-house restaurant offers a variety of mouth-watering food. From a five-course feast inside the restaurant or a hot plate of fish and chips by the pool side, the experienced team of chefs are more than happy to make your appetizing dream come true at The Marina. Speaking about the club, Mr. Chiranjeewa Amarasinghe, General Manager of The Marina said, “Sri Lanka has great potential to market the country as a destination that provides quality water-related recreational facilities. The Marina was built along this line to cater to an exclusive sector of clients by providing an exceptional experience on and off the water. The club offers the best products and expertise for sports enthusiasts and a range of other exclusive amenities. It is the perfect escape for anyone who wishes to create long-lasting memories and enjoy a well-earned relaxation and savor the tranquility.” The Marina also offers an air-conditioned reading room, TV lounge and a conference room complete with multimedia and state-of-the-art AV system. The exclusive recreational center is a worthwhile experience and a place like no other when it comes to aquatics. The valued day pass is only a click away on the website www.themarina.lk and a life-time experience for members.

The Colombo Stock Exchange (CSE), in association with the Securities and Exchange Commission of Sri Lanka (SEC) and the Sri Lankan High Commission in Australia will host a series of ‘Invest Sri Lanka’ Forums in Australia and New Zealand (ANZ). The Forums, which are set to take place in Sydney (20^th March), Melbourne (23^rd March) and Auckland (25^th March) are conducted with the objective of promoting capital market investment opportunities to ANZ investors and individuals of Sri Lankan origin residing in the two countries. The Invest SL Forums are expected to draw a combined participation of over 500 Institutional Investors, High-net-worth individuals and residents of Sri Lankan origin in the region. Commenting on the initiative, Chairman of the SEC Mr. Thilak Karunaratne said “Our immediate priority is to fulfill SEC’s mandate by initiating regulatory reforms and improving market infrastructure to ensure a level playing field in which issuers can raise funds and investors can participate with confidence. I am confident that ‘Invest Sri Lanka’ will provide investors based in both Australia and New Zealand an excellent chance to understand potential investment opportunities in Sri Lanka. This endeavour will facilitate the Government’s aspiration to attract more investments from the Diaspora to drive economic development.” The Chairman of CSE Mr. Vajira Kulatilaka stated that a strong community of individuals with a Sri Lankan origin eager to look at new Sri Lankan investment opportunities and a growing inflow of foreign investment originating from Australia, highlight ANZ as a market with notable potential. Mr. Kulatilaka said that bilateral activity surrounding the celebration of 70 years of diplomatic ties between Sri Lanka and Australia presented the CSE with a unique opportunity to promote the capital market at a time when Sri Lanka has the attention of the region. “We have taken steps to enter into partnerships with local consulates, associations and business councils considering the local context of each location and the diverse nature of our target audience”, he added. The Australian High Commissioner in Sri Lanka, Mr. Bryce Hutchesson, commended the initiative as a valuable means of fostering closer economic ties between the two countries. “Further economic reform in Sri Lanka should see more Australian businesses and investors looking to enter the local market. There is clear scope to expand the bilateral trade and investment relationship and this Invest Sri Lanka Forum initiative should contribute positively towards that goal”. Sydney marks the first stop of the series with an event taking place on 20^th March at the Shangri-La Hotel from 3.00 p.m. onwards. The Sydney Forum is organized in association with the Sri Lanka and Australia Chamber of Commerce and the Consulate General of Sri Lanka in Sydney. The series would then move to the state of Victoria, with an event exclusive to Australian Institutional Investors and High-net-worth individuals hosted at the International Chamber House Melbourne on 23^rd March at 8.30 a.m. followed by an evening event from 6.00 p.m. onwards at the Novotel Melbourne Glen Waverley, which is set to attract the participation of individuals with a Sri Lankan origin living in Melbourne. The Melbourne Forums are organized in association with the Consulate General of Sri Lanka in Melbourne and the Aus-Lanka Business Council. The final stop in the series of events will take place at the Fickling Convention Centre in Auckland on 25^th March from 4.00 p.m. onwards. The event will be organized in association with the Sri Lankan New Zealand Business Council and is expected draw the participation of individuals with a Sri Lankan origin living in Auckland. All events will feature a keynote address delivered by Hon. Niroshan Perera the State Minister of National Policies and Economic Affairs, while the Chairman of the CSE Mr. Vajira Kulatilaka and Director General of the SEC Mr. Vajira Wijegunerwardane will make presentations on the opportunities in the Sri Lankan capital market and the reformist agenda for the capital market, respectively. A macroeconomic overview of the country will be provided by Mr. Maninda Wickramasinghe MD/ CEO/ Country Head, Fitch Ratings Lanka and will be followed by an insight into the economic policy direction of the country, which will be delivered by Dr. (Mrs.) Yuthika Indraratne, Director of Economic Research at the Central Bank of Sri Lanka. The main presentations will be followed by a panel discussion moderated by CSE CEO Mr. Rajeeva Bandaranaike and a question and answer session with the audience. The events will also feature several leading Real Estate developments in Sri Lanka in the capacity of event sponsors, including the Colombo Port City (Platinum Sponsor) One Galle Face by Shangri-La Hotels & Resorts (Platinum Sponsor) and the luxury apartment development by Altair (Corporate Sponsor). Registrations and further information on the events could be obtained via www.investsrilanka.net

Visiting New Zealand farmer shares expertise with local dairying women As Sri Lankans continue to enjoy the goodness of milk, demand for dairy is growing by 13 per cent per year. However, currently the local industry can only meet 30 per cent of this demand. In addition, the fact that the agricultural sector employs 30 per cent of the Sri Lankan workforce, but contributes just 9 per cent of the national GDP, tells us that the productivity of this sector has an immense potential to grow. In time for International Women’s Day this week, Fonterra Brands Sri Lanka held a women’s networking session to empower local dairy women and recognise the contribution they are making to the industry, as well as the unique potential they hold to uplift the industry even more. Marloes Levelink, a Fonterra shareholder who has been in New Zealand dairy for 15 years, shared her insights and expertise with 10 Sri Lankan women from dairy farming families who supply Fonterra with fresh milk. This was part of her three-week visit, which is one element of the Co-operative’s dairy development programme that aims to help uplift the local Sri Lankan industry. Fonterra Brands Sri Lanka Head of Extension, Training & Partnerships Mik Harford said like their counterparts in New Zealand, local women in dairy are vital in running their families’ farming businesses. “Women often play substantial roles in the dairy farm, while also balancing multiple commitments such as managing the household, children and sometimes even other businesses. “Every day we work with dairy farming women through our training programmes, discussion groups and farm meetings. We encourage these women to find their voice in this environment and when they do, they bring unique perspectives that we can use to grow as an industry,” said Harford. At the session, local dairy women highlighted key challenges they face in their day to day farming activities including the irregular supply of quality feed and water, the need for veterinary services and the need for better time management when considering household and farming commitments. In discussing these road blocks, Ms. Levelink shared simple solutions and ways of working that help her and her fellow New Zealand farmers to increase their farms’ production and quality. She covered areas such as effective approaches to managing livestock and improving cattle health, farm productivity, and additional income opportunities from the existing herd. “From my visits to farms around Sri Lanka, it is evident that women play a crucial role in local dairy farming, and there is great potential for them to further enhance the industry. As a woman in dairy myself, I understand some of the common challenges we all face, such as unpredictability of the weather, as well as combing the farm business and the household activities. “Women can play an active role in not only identifying the challenges faced by her farm and family, but collaborate with other farmers in the community to find practical solutions. It is important to instil the self-confidence and knowledge necessary for women so they can support their families in a sustainable way, in turn making them contributors to the dairy industry ” said Levelink. Managing Director of Fonterra Brands Sri Lanka and the Indian Subcontinent Sunil Sethi said the session was all about women empowering women – sharing their knowledge and insights to uplift the dairy industry. “This fits within Fonterra’s farmer development commitment, where we draw on our Co-operative’s experience in New Zealand and work closely with Sri Lankan farmers to find solutions that work locally. This enables them to make an even greater contribution to their businesses, and ultimately the industry and economy,” said Mr. Sethi. Ms. Levelink was selected as one of four New Zealand farmers to visit local dairy farms and provide hands-on training to both farmers and Fonterra’s Supplier Relationship Officers in areas such as animal feeding, animal health and welfare, milk quality and production and running the farming business. Photo – Visiting New Zealand farmer Marloes Levelink discussing common challenges faced by local women in dairy farming and sharing her solutions for effective livestock management and farm productivity.

World’s Largest Passenger Jet Features Airline’s Award-Winning Three-Room Suite, The Residence Etihad Airways is introducing its award-winning A380 on the Abu Dhabi – Paris route this summer as part of seasonal adjustments to the airline’s fleet deployment plan. Featuring the carrier’s revolutionary The Residence – the world’s first three-room suite on a commercial airliner – the aircraft will operate on one of its twice-daily services to the French capital between July 1 and October 28. Paris becomes the airline’s latest A380 long haul destination following London, Sydney, New York and Melbourne. With the aircraft upgrade from a 328-seat Boeing 777, Etihad Airways is able to offer an all-A380 daily service from Paris to both Melbourne and Sydney via the airline’s Abu Dhabi hub. The additional capacity will provide business and leisure travellers from the UAE the benefit of experiencing the double decker aircraft – with a living room, bedroom and shower in The Residence, and more premium seats in the First Apartments and Business Studios – to meet demand to another popular long haul destination during the peak summer months. It will also support the strong connecting traffic to and from many cities across Asia and Australia including Brisbane, Perth, Bangkok, Chengdu, Ho Chi Minh City, Hong Kong, Jakarta, Manila, Shanghai, Seychelles, Chennai, Delhi and Mumbai, together with destinations across the GCC such as Bahrain, Doha, Jeddah and Muscat. Flight EY31 has a scheduled departure time from Abu Dhabi International Airport of 0215 hrs, arriving at Paris Charles de Gaulle Airport at 0750 hrs, with the return flight EY32 leaving the French capital at 1040 hrs, arriving in Abu Dhabi at 1930 hrs. (all times listed are local). Peter Baumgartner, Etihad Airways Chief Executive Officer, said: “Flying our flagship product to France with additional seat capacity helps fulfil growing demand and meet our guests’ expectations for an even greater travel experience with unmatched luxury, comfort and service. “Paris is one of our busiest and best performing European routes, so the deployment of this upgraded service will benefit travellers to and from Abu Dhabi, and our popular connecting cities across Asia and Australia.” Etihad Airways’ A380 features a total capacity of 496 seats – up to two guests in The Residence, nine First Apartments, 70 Business Studios and 415 Economy Smart Seats. The airline has taken the finest details from the best service hospitality establishments around the world to redefine the A380 travel experience – from the comfort of a seat and finest cuisine to new inflight amenities and extensive entertainment options. Inflight chefs create a made-to-order dining experience from a larder of fresh ingredients for guests travelling in The Residence and First Class. The Residence is an ultra-private, three-room suite featuring a living room with a 32” LCD monitor, bedroom with a double bed, separate en-suite shower room and dedicated personal Butler trained at the world-renowned Savoy Butler Academy in London to look after the needs of its discerning guests. The cabin also comes with a private chef ready to custom-create menus to order. The nine First Apartments in First Class are private living spaces featuring a flat-screen television, a chilled mini-bar, personal vanity unit, wardrobe and a fully equipped shower room for the exclusive use of First Class guests. The 70-configured Business Studios are located on the upper deck of the A380, all offering direct aisle access, a fully flat bed and an increase of 20 per cent in personal space. The Lobby, a luxurious lounge located between the First Class and Business Class cabins, features two comfortable sofas and a staffed bar, enhancing the sense of serenity. Onboard Food and Beverage Managers, with experience of working in luxury hotels and top restaurants, guide guests travelling in Business Class through the extensive menu options available and provide recommendations on the perfect accompaniment for their meals. And a Flying Nanny trained by the world-famous Norland College in the UK, is onboard every A380 to provide dedicated childcare support for families travelling with young children. The main deck features 415 Economy Smart Seats which offer unique ergonomic fixed-wing headrests, lumbar support and an 11-inch personal, high-definition monitor screen to enjoy over 750 hours of on-demand movies, TV programmes, improved gaming and live TV news and sports via the state-of-the-art Panasonic eX3 entertainment system. Flights to and from Paris can be booked at etihad.com, via Etihad Airways Contact Centres, or travel agents. Etihad Airways’ approximate one-way fare, including taxes and surcharges, in The Residence from Paris to Abu Dhabi is US$ 10,750; and Paris to Sydney or Melbourne is US$ 16,800. Ethihad-A380

As the second phase of the public power-generating programme ‘Surya Bala Sangramaya’ (SBS) launched by His Excellency President Maithripala Sirisena, the Ceylon Electricity Board together with the Ministry of Power & Renewable Energy of Sri Lanka, has now opened international competitive bidding by announcing the Request for Proposals (RFP) for the establishment of 60 solar power plants of 1MW each on build, own and operate (BOO) basis across the country. JLanka Technologies, the premier solar solution provider in Sri Lanka is stepping up to offer their highly demanded expertise and professional services for prospective project developers and investors. JLanka offers comprehensive support services for prospective developers who are required to design, finance, procure, construct, commission, operate and maintain the solar PV power plant. The service offerings cover all aspects of the project, from the submission of a complete, competitive and professional RFP to the design and construction of the solar power plant. The company will calculate the proposed PV power plant’s annual electrical energy production, and assess the project feasibility and revenue to support developers in attracting investors and necessary financing. JLanka will ensure the compliance of the resulting 20-year Power Purchase Agreement between the developer and the Ceylon Electricity Board, with local solar industry standards and regulations. The company offers expert advice on site selection, helping developers secure all environmental clearances, Governmental approvals and statutory licenses. JLanka will also introduce developers to landowners of suitable sites, with incentives from Sri Lankan banking and financial institutions. Having accumulated knowledge and expertise on the subject over the years, JLanka will review proposed plant design to maximize energy production and minimize system lifetime costs. Subcontracting is carried out by the company, drawing from their vast network of associates and partners in the construction industry in Sri Lanka. Post-construction services such as operation and maintenance will also be carried out by JLanka. “We understand our responsibility to support this historical endeavor in Sri Lanka,” stated Srinath Dolage, Marketing Manager of JLanka. “As the leading Sri Lankan solar expert, we have always endorsed the use of renewable energy to address the demand of the power lag in Sri Lanka. Therefore, we are truly excited to be part of this project and provide our assistance to developers and investors, to ensure the best solutions are initiated.” In order to further educate invested parties of the benefits of this project, JLanka, together with The Ceylon Institute of Builders (CIOB), the premiere body of building and construction professionals in Sri Lanka, will host a forum and networking reception for project developers entering the market, contractors, investors, policy makers and other stakeholders, on the 20th of March at 5 p.m. at the Golden Pond, Taj Samudra. Titled ‘The Key Aspects of Utility Scale Solar PV Project Planning’, this forum is facilitated by the Ministry of Power and Renewable Energy of Sri Lanka, the Ceylon Electricity Board and the Sri Lanka Sustainable Energy Authority with an objective to clarify how to successfully develop, finance, construct and operate utility-scale solar PV power plants. Hon. Ajith P. Perera, Deputy Minister of Power and Renewable Energy stated, will be Chief Guest at the event. “Of all the available renewable energy sources, solar is one of the most viable for Sri Lanka,” the Deputy Minister stated. “We are now continuing the Phase 2 of the Surya Bala Sangramaya, aiming to produce more electricity that can be fed to the national grid at a larger scale. This is why we have opened tenders for 60 solar PV plants throughout the island. Anyone can apply for the tenders, and we encourage local organizations to bid for this opportunity, to join us in creating a more sustainable Sri Lanka.” The grid substations that would be connected to the proposed 60 power plants are Anuradhapura, Habarana, Kilinochchi, Maho, Pannala, Polonnaruwa, Valachchenai, Vavuniya, Horana, Panadura, Embilipitiya, Beliatta, Galle, Matara, Mathugama, Ampara, Mahiyanganaya, Monaragala, Pallekele and Vavunathivu. Visit utilitysolar.jlanka.com for more details on this project and seminar.

Kiribathgoda has received its own Burger King restaurant, following the opening of the 14^th such outlet in Sri Lanka at a prime location in this bustling suburb, by master franchisee Softlogic Restaurants (Pvt) Ltd., a fully-owned subsidiary of Softlogic Holdings PLC. The new Burger King at No. 145, Dalugama, Kelaniya is seen as a highly anticipated and welcome new dining option for the residents of Kiribathgoda, offering vibrant surroundings, friendly crew members, ample parking space and mouthwatering meals. Located in a unique space, the restaurant has two entrances and can be accessed via the New Kandy Road as well as the Old Kandy Road, adding to customers’ convenience. The restaurant will stay open from 7AM to 11PM on weekdays and from 7AM to midnight on weekends for the convenience of residents of the area and people passing through. The fast food giant, which bills itself the ‘Home of the Whopper,’ grills rather than fries its patties for an exceptionally rich and clean flavour that burger lovers adore and proves to be healthier than other fast food options. Customers dining at Burger King can choose from a deliciously diverse menu featuring world-renowned products like the Whopper which comes with a 100% Flame-Grilled Beef or Chicken Patty, Mayonnaise, Ketchup, Fresh lettuce, Tomatoes, Onions and Pickles all inside a five inch sesame seed bun. Burger King also offers nutritious and value-for-money options for breakfast, considered the most important meal of the day, with Egg Burgers starting at just Rs 100. The restaurant also offers the tasty Scrambled Egg & Chicken Bacon Burger, the Chillie Cheese Chicken Burger with steaming hot melted cheese inside the burger at just Rs 200, Lavazza coffee and many other breakfast options. For lunch, the restaurant’s wide menu includes unbeatable deals such as BK Rice at Rs 230 and Royal Lunch at Rs 280, with a delectable dessert menu starting at just Rs 50 for Soft Ice Cream and extending to many perennial favourites such as chocolate mousse, chocolate biscuit pudding and the scrumptious Hershey’s Sundae Pie. “Kiribathgoda is a bustling community full of activity, with an affluent and cosmopolitan populace. It is therefore the perfect new addition in Burger King’s expansion strategy for Sri Lanka,” said a spokesperson for the company. He said the Burger King Kiribathgoda outlet offers an amazing experience for children of all ages through a “Digital Play Ground” which is operated via a projector and motion sensor which allows users to interact with games such as mini football. Children will also receive a free toy with every purchase of a Kids Meal. Burger King’s other outlets in Sri Lanka are located in Kollupitiya, Mount Lavinia, Rajagiriya, Arcade Independence Square, the Central Hospital Food Court, Kandy City Centre, Liberty Plaza, Negombo, Fort (Colombo 01), Wattala, Panadura, Nugegoda and at the Bandaranaike International Airport. Burger King has enjoyed tremendous success in the short time since its launch in Sri Lanka by franchisee Softlogic Restaurants Pvt. Ltd, a fully-owned subsidiary of Softlogic Holdings PLC which is one of Sri Lanka’s foremost, dynamic conglomerates, with leading market positions in the country’s growing economic sectors; retail, healthcare, ICT, automobiles, leisure and financial services. Softlogic holds Authorized Distributorships for key global brands and today, employs over 9,000 people in its offices located in Sri Lanka and Australia. Founded in 1954, the Burger King® brand is the second largest fast food hamburger chain in the world. Every day, more than 11 million guests visit Burger King restaurants around the world. The Burger King system operates more than 14,000 locations in approximately 100 countries and U.S. territories. Burger King’s commitment to premium ingredients, signature recipes and family-friendly dining experiences is what has defined the brand for more than 50 successful years. Burger-King-Composite2

Sri Lanka has been invited to deliver the key-note address at the 4th High Level Dialogue on Financing for Development in Asia and the Pacific. The official invitation was handed over to Finance Minister Ravi Karunanayake by the Executive Secretary of the United Nation’s Economic and Social Commission for Asia and the Pacific Ms. Shamshad Akhtar (March 10). During the meeting held with the Finance Minister Ravi Karunanayake at the Ministry of Finance, Ms. Akhtar said that receiving this opportunity by Sri Lanka is of paramount importance.

Accordingly, Finance Minister Ravi Karunanayake is scheduled to participate in the proposed summit to be held on April 28 and 29 in Bangkok, Thailand. Sri Lanka has been selected to offer this opportunity for its capability to maintaining good governance and strong financial disciplines.

Attention was drawn to the sectors which have been identified regionally for development during the meeting between Finance Minister Ravi Karunanayake and Executive Secretary of the United Nation’s Economic and Social Commission for Asia and the Pacific Ms. Shamshad Akhtar. The position Sri Lanka is currently enjoying in the regional financial development sector has been assessed during the meeting. Views were also expressed about the priority that Sri Lanka is going to claim in its development agenda for 2030.

Australia’s internet speed has ranked as the 51st slowest out of 108 countries around the world, lagging behind underdeveloped nations such as Kenya and Sri Lanka.

Australia’s online bandwidth has pathetic internet speeds compared to Norway, Sweden, Hong Kong, Switzerland, Denmark and Singapore – which all have speed above 20 megabits per second (mbps).

South Korea topped the list with the fastest connectivity at 26.1mbps.

Australia’s average speed was recorded at 10.01 mbps, seven megabits behind the USA which was ranked at 13th with 17.2mbps , Akamai’s State of the Internet report found.

Kenya recorded far better connectivity speeds than Australia – the east African country listed at the 23rd fastest in the world with an impressive average of 15mbps.

The Philippines had the worst internet speed of the countries surveyed.

In 2015 Australia was sitting at 48th on the list with an average internet speed of 9.6mbps, but last year the country slipped out of the top 50 entirely.

‘Quarterly changes were positive across the board except for Australia, which posted a 1.9 per cent decline in adoption,’ the report notes.

Vietnam and India were the only two countries to enjoy double-digit growth.

But mobile connectivity in Australia is topping the Asia Pacific region at 13.8mbps, which is higher than the global average of 7mbps.

The disappointing connectivity in Australia was blamed on the unfinished implementation of NBN across the country.

‘Providing fast, reliable internet to a vast rural population of this scale is a challenge that no other country has to deal with,’ Akamai said.

It is hard to compare Australia’s speeds to a small and densely populated country like Singapore, for example, where a single switch provides hundreds of thousands of people with internet.

The original premise of the National Broadband Network vowed it would make Australia a world leader in internet connectivity.

– Daily mail

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The Marina turns serene Bolgoda Lake into a heaven of relaxation for water sports lovers

Sri Lankan capital market to woo investors from Australia and New Zealand

Women Empowering Women To Uplift Dairy Farming

Etihad Airways To Launch A380 Flights To Paris

JLanka Takes Lead in Supporting Phase II of Surya Bala Sangramaya for 60 Solar Power Plant Project

Burger King Opens Its 14th Outlet In Kiribathgoda

Sri Lanka invited to deliver key note address at high level dialogue on Financing for Development in Asia Pacific

Australia slumps to 51st in internet speed rankings – behind Sri Lanka