Adaderana Biz English | Sri Lanka Business News

Kiddies & Toys International (KTI), Sri Lanka’s leading distributor of premium mother and childcare brands, with a view of providing families with access to the very latest premium childcare products at affordable prices, recently unveiled its latest mega showroom Cool Kidz. Conveniently located at 385, Duplication Road, Colombo 3, the new store is home to the largest selection of branded baby and kids products handpicked from premier international and Sri Lankan brands by the KTI team for young families. Designed specifically to alleviate the burden of having to shop at multiple locations, this one stop shop is the only store in the country to offer everything from trusted mother and baby care products and accessories, furniture and gear for babies to the coolest toys and lifestyle products and the trendiest clothes and footwear from top brands. Cool Kidz will house all KTI distributed brands as well as other original branded items like popular Indian kids wear brand Gini and Jony and famous Italian infant furniture and bedding brand Picci. The store comes with ample, hassle free parking on site. Going beyond the extensive collection of products in store, customers can take their pick from an even wider selection on www.coolkidz.lk and have it delivered right to their doorsteps. Commenting on the launch Mr Yohan Ziard CEO of Kiddies & Toys International (Pvt) Ltd said, “As parents ourselves, we know the difficulty of having to scour the city looking for the perfect, quality items which are safe for our children. There was a time that only those who travelled abroad were able to get the latest products from leading brands at a premium price. However, now these parents can find these trusted brands at our Cool Kidz store at affordable prices. We have also designed the store to be a place that both parents and children will love. We see Cool Kidz as more than just a store but a happy place that will become a part of the family as children transition through each age. We are excited to be on this journey with them and look forward to meeting their every need. Our teams pay attention to every minor detail of each of the products we stock to ensure that we continue to provide only the best products for your kids.” “This fits in with our vision of being the most trusted establishment, committed to providing safe, quality products and services that enrich the lives of expectant mothers, infants and kids,” he added. Cool Kidz also has a designated play area equipped with toys, books and a creative wall to make the shopping experience enjoyable for all parents as well as for the kids. The creative wall allows children to explore their imagination and express themselves through art by painting on the wall. Further adding to the fun experience of the store is their loyalty card in the form of a child’s passport, called the Kids passport club, in which children will earn stickers for every purchase and the opportunity to win existing gifts. The new location played host to the recently concluded LEGO Day and will host many more engaging, exciting and interactive events in the future and providing children and parents a completely immersive and unforgettable experience with their favourite toys. Families should keep an eye out for these exclusive events which will kick start in the near future. Kiddies & Toys International (KTI) Pvt. Limited is the exclusive agent for Farlin, Chicco LEGO, Barbie and Mattel brands in Sri Lanka with over 20 years’ of experience in the baby, Kids and mother care industry by featuring an outstanding range of premium child and mother care products as well as one of the largest selections of branded toys in Sri Lanka. Kiddies and Toys International (Pvt) Ltd, E-guardian Lanka (Pvt) Ltd, DCS International (Pvt) Ltd and Digital Engineering Solutions (Pvt) Ltd are the main subsidiaries of LIMRA Holdings, which has business interest in industries of ICT, mother care, baby care, toys, and engineering is mandated to identify, invest, acquire and manage business ventures profitably.

Jack Eyers, the 28-year-old personal trainer and model from Bournemouth, Dorset created history recently as the first-ever amputee to clinch the prestigious Mr. England 2017 title held in Birmingham last month, the preamble to the globally acclaimed Mr. World 2017 contest. The glamorous event, a celebration of brains and brawn between 22 finalists, was attended by the fashion moguls and crème de la crème of British society and watched by hundreds throughout the United Kingdom on 14^th July 2017. Envoy London, the brand grown in Sri Lanka and which bears the trademark as being the undisputed leader in premium quality menswear was the appointed Official Clothing Partner of the Mr. England 2017 contest, and that too for the second consecutive year. “We’re proud that a brand from a small country like Sri Lanka has effectively entered the overseas market and are proud to be associated as the Official Clothing Partner of an event of international repute such as this. We’re equally thrilled at the idea of creating a broader perspective in the unprecedented title winner Jack Eyers, who is the first-ever amputee to participate and win in such a highly competitive beauty pageant. He made the impossible possible by winning this title and is an inspiration to thousands of young men and women alike across the world. We look forward to welcoming him to Envoy Mansion in Colombo very soon”, said fashion visionary and creator of the Envoy London brand Fouzul Hameed. “As the winner of Mr. England, I consider it a privilege to be identified with a truly world-class brand such as Envoy London, which has the most expansive range of styles in men’s haute couture. I am looking forward to my journey to the paradise island, Sri Lanka and grateful for the opportunity to be associated with Envoy London”, Eyers added. Envoy London’s ethos of thinking beyond the box is boldly displayed in the daring winner who plans to defeat all odds to become Mr. World next year. Rich in experience and industry knowledge, Fouzul Hameed has revolutionised the Envoy London brand which is patronised by the discerning wearer. Envoy London is now a brand registered by the IPO of the UK and the EU. Mr. England 2017, Jack Eyers lost his leg due to a birth defect but his resilient stance has earned him world repute. Pursuing a dream which seemed unattainable has gained him a title in a hitherto unexplored field and paved the way for anyone with physical challenges. He had hoped to join the fire service when he was younger but realised that he could not as an amputee. He however found success in other areas and hopes to show that disability does not have to hinder your chances of having a successful life. Working hard to become fit, he became a successful personal trainer and signed with Models of Diversity, and was the first male amputee to walk in the New York Fashion Week. He also took part in the 2012 opening ceremony for the Paralympics and has walked in Milan and Moscow Fashion Weeks. Photo caption: (Above) Mr. England 2016 Christopher Bramell congraqtulates his successor Jack Eyers

Fashion visionary and creator of the Envoy London brand Fouzul Hameed with Mr. England 2017 Jack Eyers and the First and Second Runners Up

~ Agreement will expand customer choice and enhance user experience across the region Singapore – Mastercard (NYSE: MA) and PayPal (NASDAQ: PYPL) today announced an extension of their partnership into Asia Pacific to enhance the consumer experience and make Mastercard a clear payment option within PayPal. The deal will expand PayPal’s presence at the point of sale[i] and enable Masterpass for Braintree merchants in the region. Additionally, both companies will collaborate to create opportunities to leverage Mastercard’s new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card. “We’re excited to extend our long standing partnership with Mastercard into Asia Pacific,” said Rohan Mahadevan, Chief Executive Officer, PayPal Pte Ltd and Senior Vice President, APAC, PayPal Inc. “Our partnership will continue to drive innovation, accelerate the move to digital payments, and improve payment experiences for our mutual customers in the region, unlocking the potential to millions of customers to more freely spend and move their money.” “Whether paying in the physical or digital world, consumers want to see the familiar Mastercard brand from their chosen issuer,” said Rama Sridhar, Executive Vice President, Digital and Emerging Partnerships, Asia Pacific, Mastercard. “This expansion of our partnership with PayPal reinforces our commitment to our cardholders in the region to deliver the simple, speedy and secure payment experience they’ve come to expect from Mastercard. Furthermore, the agreement provides a number of joint growth opportunities that will advance Mastercard and PayPal’s shared vision to offer consumers greater choice and flexibility to pay and move their money.” Through collaborations with Mastercard bank partners, consumers will be able to seamlessly add Mastercard cards into PayPal from banking apps. Mastercard will be presented as a clear and equal payment option within the PayPal Wallet, making it easily identifiable to the consumer when transacting. Customers will also see a familiar digital representation of their Mastercard from their chosen issuer. Moreover, consumers will be able to choose Mastercard as their default payment method to allow for quick and easy check-out. The deal will also give PayPal the opportunity to expand its presence at the point of sale by utilizing tokenization services from Mastercard. This will allow consumers to use their tokenized Mastercard in their PayPal Wallet to make in-store purchases at the more than 6.5 million contactless-enabled merchant locations across the globe. In addition, customers will have the ability move funds to their bank accounts via their Mastercard debit cards in real time across multiple markets. The partnership will also bring more choice for merchants, adding Masterpass as a payment option for those that process payments via Braintree. Merchants that leverage Braintree will be able to easily integrate Masterpass into their checkout experiences, providing a seamless user experience for their customers. About PayPal: Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s 210 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. *Only applicable where PayPal is available to accept in store payments. About Mastercard: Mastercard (NYSE: MA), www.Mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau. [i] Where PayPal is available in market

Adding further accolades to their already extensive local and international award portfolio, Colombo’s favourite suburban hotel Waters Edge and its culinary team performed outstandingly at the recently concluded “Culinary Art & Food Expo” which was held at BMICH. The 17th edition of the most sought after event in the local hospitality sector was organized by the Chefs’ Guild of Lanka. Talented chefs from around the country battled it out in a bid to impress some of the world’s most renowned culinary masters who were specially flown down to judge the event. A total of 1,700 chefs from 165 hotels across the country and even from the Maldives took part in this year’s competition. The teams competed in various categories including creating a mouthwatering menu of internationally-themed dishes including plated appetizers, five-course set dinner menu, petit fours and pralines, pastry and chocolate showpiece, and hot and cold finger food for the judges. In addition, wedding cake structures, butter sculpture, bread dough showpieces were also featured in the competition. Renowned for cooking up the most authentic dishes from cuisines around the world in its 11 diverse food outlets, the team from Waters Edge displayed their real culinary prowess by walking away with 7 individual Gold medals, 11 Silver medals and 11 Bronze medals. This included Gold for the Butter Sculpture created by Daminda de Silva, the 5-course Set Dinner Menu and Plated Appetizers by Imal Danwatta, Gold for the Hot Cooking (Open) Live to Chanaka Kandambi, Hot and Cold Finger Food created by Krishan de Silva, and the Lion Beer/Stout Coktail concocted by Ganga Rajapaksha. In addition to these medals Waters Edge further cemented its position as the go-to place for all things gastronomical when Chanaka Kandambi walked away with the Award for Best Chef of Sri Lanka 2017. Speaking on the outstanding success of his team, General Manager of Waters Edge and Culinary Guru Rohan Fernandopulle said, “As a chef myself I am so proud to see the level of expertise that our team displays not only at competitions of this nature but also on a daily basis at the hotel. Serving up real food to our guests coupled with exceptional service is the backbone of our operations and it is humbling when our efforts are thus recognized by the industry”.

Internationally acclaimed Chartered Corporate Secretary Isura Sirisena recently launched Sri Lanka’s first-ever online portal for free corporate secretarial advice. The website www.companysecretary.lk is targeted not only at company secretaries but also at the business community and young entrepreneurs who want to launch their new enterprises but struggle with the cumbersome paperwork that company registration entails. The website will provide answers to all questions and queries related to corporate secretarial, corporate governance and company law online at no cost. Accessible from anywhere in the world and mobile friendly the platform is a knowledge hub for the corporate world. Isura Sirisena, a Registered Company Secretary and Qualified Member of the Chartered Corporate Secretaries of Sri Lanka speaking on the launch of the web portal noted, “During our years of working with company registration, company secretarial work and company law in Sri Lanka, we have noticed that many organizations struggle with questions with regards to laws and policies. This portal will serve as a knowledge hub for companies, bankers, finance professional, HR and legal teams and even students who wish to learn and understand the industry. We also look forward to constantly updating and upgrading the site with policy changes etc. periodically.” With 10 years practicing experience as a company secretary, Isura first started off working at Ananda Sirisena & Co under the guidance of his father the late Ananda Sirisena. He later took over the seat of Managing Director after the demise of his father. Since then the company has expanded its horizons not only locally but also internationally. Isura was also the Founder of THE BOARDROOM (PVT) LTD and the Australian ventures operating under the trading names CLICK 2 INCORPORATE and WE DO TAX. Isura is also a holder of a Bachelor’s Degree in Business Management from Northwood University, USA and a Bachelor of Law from University of Wolverhampton. He is also a Member of the Association of Business Executives UK and a Registered ASIC Agent (Australia). For more information and comprehensive company secretarial information please visit the new website www.companysecretary.lk

Reuters – Sri Lankan shares fell for a seventh straight session on Friday to their lowest closing level in more than 13 weeks, led by manufacturing and telecommunication stocks.

The Colombo stock index edged down 0.06 percent to 6,567.43, its lowest close since May 3. The bourse fell 1.48 percent for the week, its third straight weekly fall.

The index slipped 1.6 percent in July, but has risen about 6 percent this year as of close of trade on July 31.

Shares of conglomerate John Keells Holdings Plc dropped 0.6 percent, while Dialog Axiata Plc slipped 0.9 percent and Chevron Lubricants Lanka Plc fell 2.03 percent.

“There were lower market activities, as investors are waiting to see the direction of the market,” said Dimantha Mathew, head of research at First Capital Holdings.

Foreign investors net bought shares worth 80.6 million rupees (about $525,424) on Friday, extending their year-to-date net inflow to 26.5 billion rupees.

Turnover stood at 405.1 million rupees ($2.64 million), less than half this year’s daily average of around 893.3 million rupees.

Analysts however expect equities to gain due to a fall in the yields of government bonds.

Sri Lanka’s central bank held policy rates steady on Thursday, and said tightening measures taken in the past are helping cool inflation and credit growth. Short-term treasury-bond yields fell between 41 basis points (bps) and 55 bps at a weekly auction on Wednesday.

In last week’s auction, the weighted average yield on a 59-month bond dropped by 99 bps, while that on an 118-month bond fell by 78 bps.

Sri Lanka’s stock and foreign exchange markets will remain closed on Monday for a Buddhist religious holiday.

DFCC Bank was awarded a Certificate of Merit for “Outstanding Business Sustainability Achievement” at the Karlsruhe Sustainable Finance Awards organised by the Global Sustainable Finance Network which was recently held at the Karlsruhe City Hall, Germany. The Karlsruhe Sustainable Finance Award honours financial institutions and organisations that have made significant contributions to the field of sustainable finance and the award winners were financial institutions that have successfully embedded economic, social and environmental sustainability into their business, and have made outstanding contributions in the field of sustainable finance. The Karlsruhe Award also seeks to promote the growth of sustainable financial instruments and markets worldwide particularly in the fields of green finance and investments, financial inclusion and social finance, green equity and venture capital and holistic integration of sustainability in financial services institutions. Sri Lanka’s DFCC Bank received the Certificate of Merit in recognition of their success in incorporating sustainability in its corporate strategy as well as its business processes. Senaka Jayasinghe – Manager of DFCC Bank’s Sustainability Unit received the award from Dr. Frank Mentrup, Lord Mayor of Karlsruhe. Arshad Rab – CEO of the European Organisation for Sustainable Development, was also present at the awards ceremony. Senaka was also invited to make a presentation on “Sustainability at DFCC Bank” at the Sustainability Conference held in Karlsruhe, organised by the European Organisation for Sustainable Development. This is the 5^thconsecutive year that DFCC Bank has been recognised at this prestigious sustainable finance event. Among the previous awards was the “Most Outstanding Sustainable Project Finance Award” in 2013, for the Bank’s invaluable contribution towards developing the renewable energy sector in Sri Lanka and successfully operating the administrative unit for two credit lines from the World Bank towards development of renewable energy in Sri Lanka. DFCC Bank has also won Certificates of Merit under the Outstanding Sustainable Project Financing category for financing Sri Lanka’s first grid-connected solar power project and for financing a 4MW Bio-mass project. “Economic, social and environment development is deeply embedded in our values and informs how we conduct business, develop products and services,” stated Arjun Fernando, CEO, DFCC Bank. “This award recognises DFCC Bank’s deep commitment to creating sustainable value for the communities in which we operate, as well as our support for creating and nurturing sustainable finance practices in Sri Lanka.” DFCC Bank PLC is a part of the joint initiative by the Sri Lanka Banks Association (SLBA) to promote best practices in sustainable finance in Sri Lanka. With a rapidly expanding network of 138 branches and service points in Sri Lanka, the Bank is committed to creating financial inclusivity across the country, to enable all Sri Lankans to access financial services customised to their needs and aspirations. Senaka Jayasinghe, receiving the award from Dr. Frank Mentrup, Lord Mayor of Karlsruhe in the presence of Arshad Rab – CEO of the European Organisation for Sustainable Development

Cricket fans in Sri Lanka now have the opportunity to book tickets online for the on-going cricket match series between Sri Lanka and India. BookMyShow, which is India’s biggest online entertainment ticketing platform and the exclusive online ticketing partner for the series is offering Sri Lankan cricket fans the convenience to book tickets from the comfort of their homes and offices, while availing exclusive discounts on https://lk.bookmyshow.com/ A total of 5 test matches, 3 ODIs (one day international) and 1 T20 are being played between Sri Lanka and India between July 26^th and September 6^th. For all match tickets, BookMyShow is exclusively offering LKR 200 off. Cricket fans in Sri Lanka, who book a minimum of two tickets can use the offer code ‘BOOKMYSHOW’ to get discounts. This is a limited period offer and will be available on first-come-first served basis. Rajesh Balpande, Co-founder, BookMyShow said, “At BookMyShow, we are committed to transform the Sri Lankan ticketing experience. After redefining the online entertainment ticketing market in India, we are now implementing our learnings here. We want to make the people in Sri Lanka realise the convenience associated with online ticketing and ease and resolve their problems which they would otherwise face to get tickets- such as battling the heat or rains, standing in long queues outside a cricket stadium etc. when now they can simply log on to BookMyShow and get their tickets. We are already witnessing encouraging traction for the ticket sales and are confident that people here will soon take to online ticketing in a big way.” In 2016, BookMyShow set foot in Sri Lanka by becoming the exclusive online ticketing partner for the Sri-Lanka v/s Australia cricket series.

Plastindia Foundation from India launched India’s biggest Plastics Expo, The 10th International Plastics Exhibition, Conference and Convention -Plastindia 2018 in Sri Lanka recently at The Kingsbury Hotel Colombo to the Plastics industry of Sri Lanka. The event was attended by over 100 plus CEOs and Directors and Koenraad Pringiers President Plastics & Rubber Institute of Sri Lanka welcomed the gathering. The launch event focused on promoting Plastindia 2018 among the leading plastics processors of Sri Lanka, inviting them to India to visit the expo. Plastindia 2018 is set to take place from the 7th – 12th February 2018 at Gandhinagar – Ahmedabad, Gujarat, India and is organized by PLASTINDIA FOUNDATION. The exhibitors offer free airfare and accommodation to 50 plus visitors and the total event will be spread across 125,000 sqmtrs of total exhibition area with 2000 world’s finest exhibitors and 600 overseas exhibitors from 40 countries, and in total 200,000 visitors from all over the world in one platform. Speaking about the event Anil Reddy Chairperson of Sri Lanka and Maldives Market, “PLASTINDIA 2018 – the 10th edition of PLASTINDIA EXHIBITIONS represents the very best of this empowerment of man’s very growth through the unceasing efforts of the Plastics community. The event will showcase two distinct and critical facets – The future of the Plastics Industry and the future of humankind itself”. The event will feature growth segments such as Automobiles, Healthcare, Packaging, Infrastructure, Agriculture, Telecom, New & Renewable Energy and the emerging segments like Plastic Composites, Sports, 3-D Printing. Concurrent to the main event special themed events such as the 5th Edition of PROPLAST – a ‘one of its kind’ platform that showcases India’s growing plastics processing capabilities to the entire world, The 10th International Conference – hosting the world leaders in Plastics in one platform sharing best practices, expertise, experience and knowledge, the 8th Plasticon Awards recognizing and honoring the Iconic Innovators (Individuals & Organisations) excelling in their performance and thus contributing to the growth of Industry and the Gala Networking Dinner to top it off in style. Key Highlights:

Overseas Business Visitor Delegation from Russia, CIS Countries, Turkey, Europe, Indonesia, Philippines, Myanmar, Vietnam, Philippines, SAARC Countries, South Africa, America, Australia, New Zealand, & more have been invited for the “ MEET 2 TRADE” the Reverse Buyer Seller Meet Pavilion.
Various Plastics Associations from all over India support the show and promotional activities are conducted in major metro cities. Road Shows and preview events are being planned in smaller towns and rural areas of India.
A launch of a Mobile App for Visitor Registration and for updates on progress of PLASTINDIA 2018.
Online Visitor Registration commenced from June 15, 2017 . For the first 2 months, ie upto August 15, 2017, it shall be free registration Promotional offer and the registered visitors will be eligible for a gift by Lucky draw each week.
Plastindia Foundation has tied up with Emirates and Jet Airways as the official travel partners for PLASTINDIA 2018, with special packages for exhibitors and visitors.

Plastics – One of the fastest growing industries in India , has a very vital role to play in Indian economy. The next two decades will witness an unprecedented, explosive growth in all sectors of Plastics Industry the demands clear, long term constructive goals and a time bound action programme PLASTINDIA FOUNDATION is the Apex body of major Associations, Organisations, and Institutions connected with plastics, with common objectives to promote, the development of plastics industry and to assist the growth of plastics and related materials and their products. Photo Caption: Head table from left: Chairperson of Sri Lanka and Maldives Market Plastindia Foundation Anil Reddy, President Plastics & Rubber Institute of Sri Lanka Koenraad Pringiers and Chairperson International Marketing Vietnam & Myanmar Plastindia Foundation B. Swaminathan

The fifth annual CFA Sri Lanka Capital Market Awards 2017 was held at the Hilton Colombo recently, under the theme “Sharpen Your Investment Edge”; with the objective of encouraging those in the investment profession locally to uphold standards of best practice, excellence, and financial market integrity. The speakers of the evening focused on consumerism and macroeconomic the fundamentals driving the consumer sector in Sri Lanka. The winners were recognised in four categories by recognizing analysts who produce best in class reports on fundamental equity research, fund management companies that place unit holder interest first, promote better compliance and transparency to unit holders, stock broker research teams that aim to provide high quality and timely research to create an efficient capital market and listed companies that practice active investor relations by communicating interactively with the investor community. The award winners of the evening were honoured for their achievements and contribution to the capital markets by making a difference that matters. The Best Equity Research Report – Gold went to Kanishka Perera, Asia Securities (Pvt) Ltd for the report on Sampath Bank, Silver to: Lakshini Fernando, Asia Securities (Pvt) Ltd for the report on Central Finance; Bronze to: Nishara Sangapilarchchi, JB Securities (Pvt) Ltd for the report on Ceylon Cold Stores and a certificate of commendation to: Anjula Nawarathna – Acuity Stock Brokers (Pvt) Ltd. The Best Unit Trust Fund: Gold – JB Vintage Money Market Fund, Silver – Guardian Acuity Money Market Gilt Fund; and Bronze – Guardian Acuity Money Market Fund. The Best Stock Broking Research Team: Gold – Asia Securities (Pvt) Ltd, Silver – CT CLSA Securities (Pvt) Ltd and Bronze – NDB Securities (Pvt) Ltd. The Best Investor Relations Team: Gold – National Development Bank PLC; Silver – Dialog Axiata PLC; and Bronze – Hatton National Bank PLC. Speaking of the award ceremony Rachini Rajapaksa, President, CFA Society Sri Lanka said, “I congratulate the winners of the evening for their efforts to uphold best practices and set global standards and advocate for professional excellence that ultimately benefits society. We are proud that the CFA Sri Lanka Capital Market Awards is the only award ceremony that incentivizes capital market participants and the stakeholder groups to strive for standards of excellence. The judges for each award category is carefully handpicked and consist of both CFA Charter holders and industry experts. Considerable time and effort is devoted by the judges to ensure fairness, independence and objectivity in selecting the winners. The audience for the evening included market regulators, investors, investee companies and the professionals who serve them. Professional excellence and vision shapes the next generation capital market. May I request you to take cognizance of the commendations by the judges and harness them further but more importantly focus on improving the areas requiring improvement.” This year the speakers engaged the audience present with Sharang Pant, Managing Director Nielson Sri Lanka speaking on consumer spending trends globally and in Sri Lanka and patterns that can be envisaged with the introduction of online platforms. Ruvini Fernando, CEO of Guardian Fund Management focused on how spending trends have evolved with more people spending on organised retail and the need for a proper support structure for e-commerce. Post the presentation a panel discussion was held with the two speakers and Lahiru Pathmalal, Co-founder and CEO, Takas.lk and Gihan Cooray, Executive Director, John Keells Holdings, moderated by Shalini Kurululasuriya, CFA, sharing useful insights on the rapid growth of 3^rd party on-line portals and the challenges in existing payment gateways in the country. The CFA Sri Lanka Capital Market Awards was created by CFA Society Sri Lanka in 201_ and this year’s event was chaired by Mifnaz Jawahar, CFA. The award ceremony is an exclusive event for the investment industry executives looking to be rewarded and improve their asset-management strategies and advance their market knowledge with the guidance of some of the most experienced minds in the industry. Best Investor Relations Team Bronze – Hatton National Bank PLC Silver – Dialog Axiata PLC Gold – National Development Bank PLC Best Stock Broking Research Team Bronze – NDB Securities (Pvt) Ltd Silver – CT CLSA Securities (Pvt) Ltd Gold – Asia Securities (Pvt) Ltd Best Unit Trust Fund Bronze – Guardian Acuity Money Market Fund Silver – Guardian Acuity Money Market Gilt Fund Gold – JB Vintage Money Market Fund Best Equity Research Report Recognised: Anjula Nawarathna – Acuity Stock Brokers (Pvt) Ltd Bronze: Nishara Sangapilarchchi, JB Securities (Pvt) Ltd for the report on Ceylon Cold Stores Silver: Lakshini Fernando, Asia Securities (Pvt) Ltd for the report on Central Finance Gold: Kanishka Perera, Asia Securities (Pvt) Ltd for the report on Sampath Bank

The Ceylon Chamber of Commerce will conduct a seminar to announce the launch of “Best Corporate Citizen Sustainability Award 2017” (BCCS Award 2017) and also brief the prospective applicants on the criteria and the process of applying for the competition. The seminar, to be held on the 11^th August 2017 at the Ceylon Chamber of Commerce, starting at 9 a.m. will see the panel of evaluators of the competition addressing the audience covering areas such as the Environment, Customer Relations, Community Relations and Supplier Relations, Employee Relations, Governance, Financial Performance and Economic Contribution, which are the focal areas of the competition. During the seminar prospective applicants will be given guidance on how to compile and submit applications to compete at the BCCS Awards 2017. A senior executive of the Winner of the competitions, Grand Slam Award, Hayleys PLC. will also address the gathering. The target audience for this seminar would be CSR and Communication Managers, Sustainability Managers and the staff engaged in the preparation of application for the BCCS awards. If you wish to take part, please call via 115588850 or 51 or email to oshadhi@chamber.lk

The Sri Lanka Retailers’ Association (SLRA) www.slra.lk under the patronage of the Ministry of Tourism Development and Christian Religious Affairs and in collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB) www.srilanka.travel is organizing the ‘Colombo International Shopping Festival’ (CISF) during the entire month of October 2017. A Joint promotional initiative is underway under a National Steering Committee headed by the Secretary of the Ministry of Tourism, Sri Lanka Retailers’ Association (SLRA) and the Sri Lanka Tourism Promotion Bureau (SLTPB) to launch the first ever Shopping festival in Sri Lanka with a Global Advertising campaign along with Sri Lankan Airlines, Sri Lanka Export Development Board (SLEDB), Sri Lanka Convention Bureau, Sri Lanka Tea Board, The Hotels Association of Sri Lanka (THASL), The Travel Agents Association of Sri Lanka (TAASL) and Sri Lanka Association of Inbound Tour Operators (SLAITO). The Government of Sri Lanka allocated funding in the National Budget 2017 to organize the Shopping Festival; based on representations made by SLRA. In making Sri Lanka a Retail hub this would be one stepping-stone. It is envisaged that the Colombo International Shopping Festival will become an annual Shopping festival similar to those in Dubai and Singapore. Colombo International Shopping Festival (CISF) will inter-alia focus on Tourist segments from India, Pakistan, Maldives and Bangladesh with an Advertising campaign launched in those countries by Sri Lanka Tourism. Marketing in other countries will be with assistance of respective foreign embassies and Sri Lankan Airlines. The Sri Lanka Retailers’ Association (SLRA) with a strong membership of leading organized Retailers and over 2000 retail outlets will offer value bargains /discounts during the Shopping Festival season month from 1^st to 31^st October 2017 in island-wide outlets in collaboration with credit card companies; MasterCard, Visa and AMEX along with Banks and other financial institutions. SLRA invites All Retailers and other national, domestic/ local, organizations and parties to join this pioneering endeavor to launch the first ever Sri Lankan Shopping festival. For more inquiries, please contact Mr. Leonard Perera, Founder Convener & Head of Business of SLRA on 0727354880 or email leonard@slra.lk, the SLRA Secretariat on 5588800 or email Sachini.gunawardena@chamber.lk

Advantis Bunkering was recently awarded the International Occupational Health and Safety Assessment Series certification or OHSAS 18001:2007 by Société Générale de Surveillance (SGS), the world’s leading inspection, verification, testing and certification company. The certification covers all three legal entities of the business; Moceti International (Pvt) Limited, Lanka Bunkering Services (Pvt) Limited and Lanka Maritime Services Limited. The OHSAS 18001:2007 certification was awarded following a stringent evaluation process of the health and safety standards maintained by the company. It ensures that all employees are trained to carry out all operational activities without incident and in the event of an incident are able to minimize and mitigate further adversities. Furthermore, the OHSAS uses a management approach tool called the PDCA (Plan, DO, Check, Act) cycle, which is an ongoing process that enables an organization to establish, implement and maintain its health and safety policy based on top management leadership and commitment to the safety management system. “The safety of our employees is of paramount importance to us. Providing them with a safe working environment is a responsibility we take very seriously. This drives us to minimize risks associated with health and safety within the workplace. This dedication has allowed us to maintain an impressive safety track record and this latest certification is further validation of our commitment to the highest safety standards,” said Praneeth Gunawardena, Director – Advantis Bunkering. Advantis Bunkering is a fully owned subsidiary of Hayley Advantis Limited, the transportation and logistics arm of Hayleys PLC. Established in 2008 Advantis Bunkering is built on a combination of strengths of Moceti International (Pvt) Limited, Lanka Bunkering Services (Pvt) Limited and Lanka Maritime Services Limited. The company has established itself as a reliable bunker supplier at all ports in Sri Lanka, and went on to expand its services to the Maldives in 2016. OHSAS 18001 is an Occupation Health and Safety Assessment Series for health and safety management systems and is intended to help organizations mitigate occupational health and safety risks. It was developed in response to the widespread demand for a recognized standard against which to be assessed and certified. Photo caption: Chamika Wimalasiri, Business Manager – SGS Lanka (3^rd from left), handing over the OHSAS certificate to Praneeth Gunawardena, Director – Advantis Bunkering (2^nd from left), in the presence of Ruwan Waidyaratne, Managing Director – Hayleys Advantis (extreme left) and Shano Sabar, Group Director – Hayleys Advantis (extreme right)

Fuelled by impressive growth in its consumer and agri-business sectors, diversified Sri Lankan conglomerate Sunshine Holdings reported impressive growth in top and bottom line performances during the first quarter of the current financial year (1QFY18). Consolidated group revenue during the quarter increased by 12.5% Year-on-Year (YoY) to Rs. 5.2 billion, bolstered by strong performances in Agri and Consumer sectors, and despite a slight reduction in growth within the Healthcare sector. The group’s Agribusiness emerged as the largest contributor to Sunshine’s top-line performance, accounting for 38% of total revenue, where Healthcare contributed 37% and Consumer 22% of the total revenue. Profit after tax (PAT) for the period in review rose by 32.5% YoY, on the back of sales growth and operating margin improvement, with strong positive results also being carried through to the Group’s Profit After Tax & Minority Interest (PATMI) which rose by 8.7% YoY to Rs. 224 million. For 1QFY18, PAT amounted to Rs. 540 million up 32.5% YoY, on the back of sales growth and operating margin improvement in 1QFY18 (10.4%) compared to 1QFY17 (8.8%). Profit After Tax & Minority Interest (PATMI) grew 8.7% YoY to LKR 224m with prominent group Sunshine Holdings subsidiary, Watawala Plantation PLC, making the largest contribution to PATMI, accounting for 42% of the total. “Overall, it has been another highly dynamic quarter for Sunshine Holdings, during which we were able to achieve substantial gains with regard to turnover and profitability. Our proactive strategy of focusing on improving quality and internal efficiency continues to yield strong results for the group, as evidenced by the resurgent performance of our agribusiness. “While our healthcare sector continues to grapple with significant challenges arising out of the implementation of the price controls on pharmaceuticals and recently on medical devices, the group continues to perform extremely admirably. We commend our dynamic team of employees, and our network of business partners and valued customers for their role in driving outstanding performance over the last quarter. Moving forward we will continue to work in the same spirit of responsible entrepreneurship that Sunshine Holdings guided our company from strength to strength,” Sunshine Holdings Group Managing Director, Vish Govindsamy stated. In total, the group’s healthcare segment generated Rs. 1.9 billion in turnover during 1Q18, representing a minor 1.2%YoY contraction. Despite these constraints however, tight cost and efficiency controls resulted in the group’s healthcare segment improving its profitability by 5.8% YoY up to Rs. 85 million over the quarter. Similarly, Sunshine’s Consumer brands – spearheaded by premium brands like ‘Zesta’ and ‘Watawala Tea’ – recorded impressive growth in revenue, with stronger domestic business growth enabling a sharp 45.4% YoY growth to Rs. 1.1 billion on the back of both volume and price increases. The Consumer sector accounted for 22% of group revenue during the period in review while the domestic branded tea business sold 0.95 million kilos of branded tea, up 19% YoY. These strong performances resulted in a 22.5% YoY increase to PAT for the Consumer segment, which closed the quarter at Rs. 51 million. The Group’s Agribusiness sector, led by Watawala Plantations PLC, recorded 19.8% YoY growth up to Rs. 2 billion on the back of a 29.6% YoY growth in Tea revenue driven entirely by increase in average selling price and supported substantially by a 12.2% YoY increase in the contribution of the Palm Oil segment. Palm Oil volumes were 10.7% higher than same period last year while the company also managed to obtain a higher price for its crude palm oil during 1QFY18, which also positively contributed to both top line and bottom line of the Agribusiness sector. Particularly in the context of Sunshine’s remarkable performance over the last quarter, Vish Govindasamy expressed strong confidence over the outlook of the group over the coming year. While acknowledging the continuing impact of the price controls on its healthcare business, he noted that the potential for further growth, supported by increased volumes to offset the reduced prices and greater attention to its growing surgical and medical devices sub sector, which had displayed impressive growth potential over the recent past. Similarly, the Group’s consumer business would continue investments into its brands to scale both domestic and international businesses while the continuing success of its Palm Oil segment was also expected to continue to yield higher returns, brought about by superior agronomic practices. The Dairy segment is anticipated to begin contributing to Group Revenues from the second quarter of this financial year, having successfully imported an initial herd of 400 milking cows from New Zealand; however, Govindasamy noted that the interim cost of feeding the whole herd would produce limited impacts to the group’s Agri profits over the short to medium term. About Sunshine Holdings: Sunshine Holdings PLC is a diversified conglomerate with interests in Healthcare, Plantations, consumer, Packaging and Renewable Energy. The Group with revenue exceeding US $120 million is listed on the Colombo Stock Exchange. Beginning with the healthcare business in 1967, the group has built strong businesses over the last five decades, including partnering with the Tata Group in 1992 to form a joint venture in Plantations. Group companies include Sunshine Healthcare Lanka, Watawala Plantations PLC, Watawala Tea Ceylon Ltd, and Sunshine Energy. Sunshine Holdings PLC contributes to ‘nation building’ by creating value in vital sectors of the Sri Lankan economy – including healthcare, agribusiness, fast moving consumer goods and renewable energy. Many of its business units are leaders in their respective sectors, have secured partnerships with multiple top global brands and have won prestigious awards at the national as well as the regional level. The leading brands of the group include Zesta, Healthguard, Watawala Tea, Pedia Plus and Diabeta Plus. Photo: Sunshine Holdings Group Managing Director, Vish Govindsamy

~ Wins three accolades for the first time at Great Place to Work Awards 2017 HNB Grameen Finance Limited has been recognized as one of Sri Lanka’s best work places by Great Place to Work Institute Sri Lanka. The company managed to bag three prestigious accolades at this year’s awards ceremony held at Cinnamon Grand Colombo on 28 June. Being adjudged for the first time since its inception, HNB Grameen was awarded ‘A Great Place to Work’, one of only 25 companies in Sri Lanka to be recognized as such this year, as well as the Bronze Medal in its respective category. HNB Grameen also received the coveted Special Award for Pride and Advocacy among its workforce. Commenting on the achievement, B.M.D.C. Prabhath, Managing Director and CEO of HNB Grameen noted, “The value of this award to us, as a debutante to this accolade, is that we as an organization have not only achieved in terms of recognition among our customers but also our own people. It’s indeed a testament to the heart and soul that our staff, the lifeblood of HNB Grameen, has put in over the past 17 years. Having a significant and steadfast backing by two powerhouses in their respective industries – Hatton National Bank and Prime Lands Group – I believe this award has showcased the bond our people have not only with this company but also with what they do, interestingly, putting true weight behind who we are and our organizational mantra. The unique value of the Great Place to Work Certification is its unwavering ability to establish the true sentiment of an organization’s workforce. Conducted over a process involving a sampling of individuals, done independently by the team at Great Place to Work, including a Trust Index® Employee Survey and Culture Audit®, among others, the awards are meted out based solely on the unabated employee feedback. With over 350,000 customers being serviced through 48 branches by a strong contingent of 1665 employees, HNB Grameen is an internationally acclaimed brand for its contribution to the micro financing sector of Sri Lanka. The unified focus and vision of HNB Grameen, throughout this journey of 17 years in the industry, has been to lead the nation as a stable and leading finance company pioneered in Microfinance, with a key focus towards a committed human touch; uplifting the populous and develop the economy of Sri Lanka. Photo Caption: The HNB Grameen Team with the Awards

Nestled in the quiet serenity of a typical village down south, Cocoon Resort & Villas in Induruwa is the perfect getaway for anyone looking to experience a different kind of holiday. But don’t take our word for it… Let renowned actor, radio personality, quiz master and the face behind Hon.Pusswedilla, Dominic Kellar tell you why. Dominic and his group of equally eccentric buddies have been to Cocoon Resort & Villas in Induruwa 5 times since 2012, and were most recently at the property about a year ago. “We love the privacy that Cocoon offers whenever we stay there. We really need to get out of the hustle and bustle of Colombo every now and then and Cocoon is the perfect escape, where we can relax and wind down. The service at Cocoon is impeccable! And the decor is out of this world! We especially are in love with the Grand Villa with its private pool. No one disturbs you ever, and the best part is they’ve never said no to any request I’ve made, and there have been an outrageous few”, Dominic said. Celebrating 5 years in the hospitality industry this year, Cocoon Resort & Villas, Induruwa also notably was awarded the Trip Advisor Certificate of Excellence for the third time in 2016. This accolade pays testament to the level of service and luxurious offering at the property. Featuring 3 grand villas with their own private pools, 5 extravagant villas with private Jacuzzis, 2 luxury villas with Jacuzzis and 16 other silk rooms also with their own Jacuzzis, the luxury boutique villas of Cocoon provide you with your own secret space – perfect for the modern traveller who seeks to wind down. For ultimate rest and relaxation for the entire family Cocoon Resort & Villas has its own in-house spa, swimming pool and children’s playground as well. Situated in close proximity to one of the finest beaches in the Southern coast, Cocoon Resort & Villas facilitates complimentary beach shuttles for those who wish to picnic under the sun. Not only is Cocoon Resort & Villas the perfect hide-out for groups of friends but it is also ideal for families on vacation this August “I can imagine Cocoon being an excellent location for a family as there is a lot of space for kids to run around and do activities”, notes Dominic who highly recommends the property for your next planned (or unplanned!) vacation. For more information or to make reservations at Cocoon Resorts, please contact 0722 330 890 or visit their website www.cocoonresorts.com

“Our labour force should step up and needs exposure to a higher level of skills if Sri Lanka is serious about seizing maximum advantage of the ‘One Belt-One Road’ (OBOR) initiative” expressed Sunshine Holding’s Group Managing Director, Vish Govindasamy, speaking at the ‘Belt and Road initiative – transformative opportunity for Sri Lanka’ panel at the recently concluded Ceylon Chamber of Commerce Sri Lanka Economic Summit 2017. Perhaps the largest single overseas investment drive by China, OBOR was discussed and deliberated by an eminent panel also comprising Dr. Amitendu Palit, Senior Research Fellow and Research Lead of Trade and Economic Policy, National University of Singapore, Dr. Wen Zha, Associate Professor of China Foreign Affairs University, Ambassador Nihal Rodrigo, Former Sri Lankan Ambassador to China and the UN, and Jim McCabe, Chief Executive Officer of the Standard Chartered Bank, with Dr. Ganeshan Wignaraja, Chair of Global Economy Program at the Lakshman Kadirgamar Institute as moderator. Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes. OBOR will connect 65 countries, including Sri Lanka, with the session discussing advantages to both the world and Sri Lanka, the potential weaknesses involved, and the opportunity for Sri Lanka to be part of the larger global economic leadership and commerce. Replying to the question of whether Sri Lankan labour could match the productivity of Chinese labour, Govindasamy said, “I don’t think there is a need to match their capabilities. However, the Sri Lankan government and the business community need to step up and double their efforts to increase skills and key competencies of our local labour force and equip them with the right talent and attitude to harness opportunities out of China’s ambitious plan of OBOR. More work needs to be done from both sides to elevate the level of skills require to work with Chinese business entities.” Asked if Sri Lanka is ready to be a part of OBOR, Govindasamy added “OBOR can be transformational for us if we allow it. FTA’s between Sri Lanka and China need to be understood in totality and Sri Lanka needs to be prepared – whether its sending economists who understand the language over to China to comprehend the enormity of the potential and intra-regional trade opportunities, initiate Public, Private Partnerships, to build our logistics capacity – whatever it is , we need to double up our efforts or lose out on the 8 trillion USD platform that OBOR is offering. “It’s like a bullet train that’s coming our way and we are on a steam engine track”. On working with Chinese businesses, Govindasamy said, “I think it is a learning curve for Sri Lanka to understand and build solid relationships with China. Doing business with China is no different to other businesses in other parts of the world, however when it comes to industrial sector, speed is a necessity. They need to know answers quickly, and so Sri Lanka should enhance our competencies to be able to respond quickly within a given time. It is about learning, trusting and understanding their culture and it is really important for us to do business with China.” Sri Lanka’s diversified conglomerate Sunshine Holdings, celebrating its 50th year of responsible entrepreneurship, supported the country’s premier economic forum for the third consecutive year, as the Platinum Sponsor. About Sunshine Holdings: Sunshine Holdings PLC now in its 50^th year, is a diversified conglomerate with interests in Healthcare, Plantations, FMCG, Packaging and Renewable Energy. The Group with revenue exceeding US $120 Million is listed on the Colombo Stock Exchange. Beginning with the healthcare business in 1967, the group has built strong businesses over the last five decades, including partnering with the Tata Group in 1992 to form a joint venture in Plantations. Group companies include Sunshine Healthcare Lanka, Watawala Plantations PLC, Watawala Tea Ceylon Ltd, Sunshine Packaging and Sunshine Energy. Photo Caption: Sunshine Holdings Group Managing Director Vish Govindasamy at the Panel

Toyota Lanka (Private) Limited, the sole authorized distributor for Toyota vehicles and Hino trucks in Sri Lanka, recently supplied the Ceylon Petroleum Storage Terminals Limited (CPSTL) with 10 brand-new Hino Prime Mover units. These world-renowned transporters will facilitate in upgrading CPSTL’s island wide fuel delivery network. The official handing over ceremony was held at the CPSTL Complex under the patronage of CPC and CPSTL officials. COO/Director Manohara Atukorala, Head of Sales Ashan De Silva and Manager for the Hino Truck Division Chandima Dahanayake represented Toyota Lanka at the event. Speaking at the event Toyota Lanka’s COO/Director Manohara Atukorala noted, “Toyota Lanka and Hino are proud to be a business partner for Ceylon Petroleum Storage Terminal Limited to empower fuel transportation networks island wide. It is the high-quality and durability of the Hino range that won the trust of CPSTL, and we have been able to deliver customized Prime Movers as per the requirement. We look forward to a long term business partnership with CPSTL to further enhance the fuel transportation needs of the nation.” The consignment was the first ever importation of brand new Hino 700 series Prime Movers to Sri Lanka, and were customized according to the fuel transportation requirements of the CPSTL. In addition to this consignment, Toyota Lanka has also supplied Hino trucks to many state sector establishments and organizations, indicating the absolute on-road reliability that Hino provides to facilitate essential services driving the country. The market leader among Prime Movers in Japan, the Hino Prime Mover is known for its combination of reliability, durability and comfort. With Japanese engineering and build quality, European levels of comfort, safety equipment and performance technologies; Hino, a subsidiary of Toyota Motor Corporation is the ultimate ‘total solution’ truck brand. With the ability to weather any condition and backed by Toyota Lanka’s global standard after-sales care, experience an unprecedented level of total support for your business with Hino. For more information on the Hino Truck range, please call Toyota Lanka on 0112 939000.

Need to go somewhere? Book a PickMe. Hungry? Why not order from quickee.lk? Need a job? everjobs.lk is your friend. And the list goes on. Sri Lanka is increasingly shaped by online startups who are changing the business landscape by disrupting traditional ways of doing everyday tasks and getting people used to smoother, easier and cheaper methods for basic activities. Internet coverage has risen tremendously over the last years and will certainly not stop at around 30%, where it is at the moment. This provides an increasingly attractive field for tech-savvy entrepreneurs, who dive into conservative markets and change the playing field. As explained by Rushabh Sheth, Managing Director, everjobs.lk, “Gone are the days where you send your CV via post to apply for a job and wait for weeks to get a reply, if you get one at all. Now thousands of jobs are accessible on everjobs.lk and all that a job seeker has to do is apply to as many as he or she wants with just one click” Sri Lankan internet startups receive a lot of external support from organisations like the Information and Communication Technology Authority (ICTA), a governmentally owned agency that aims to foster the economy through ICT. It runs several initiatives, such as their Spiralation Seed funding programme, which provides seed funding of 5,000 USD per startup along with training by industry experts. The Federation of Information Technology Industry Sri Lanka (FITIS) is another organisation that strongly promotes entrepreneurship in the IT space. With their annual INFOTEL, an exhibition at BMICH, they help companies in the IT space to showcase their services and products, a good way for internet businesses to gain publicity. The Sri Lanka Association of Software and Service Companies, or SLASSCOM, launched ‘Startup Sri Lanka’, an initiative and plan to launch 1000 Sri Lankan startups by the year 2020. SLASSCOM ran a survey in 2015 among 215 aspiring or existing local entrepreneurs and analysed their demographics, as well as the barriers for growth for startups. Lack of affordable workspace, missing online payment solutions, poor access to capital – most of the start-ups are internally funded – and unreliable and expensive internet access represent the biggest obstacles. Numerous banks are currently working or introducing payment solutions, which will take away one of the worries. It is inevitable for Sri Lanka to support the startup industry, given that 8 out of 10 jobs come from the private sector. And while cities like Singapore, Bangkok, Beijing or Ho Chi Minh City are regulars in lists for attractiveness for startups, Colombo is nowhere to be found. However, as SLASSCOM’s survey pointed out, this is certainly not due to lack of talent in the country. More than 50% of the respondents had no issue at all with finding technically proficient talent. It is therefore evident that Sri Lanka has some structural, financial and legal obstacles ahead that need to be tackled in order to be mentioned with the likes of Singapore and Hong Kong.

By Omar Hmaoui, Head of Business Development, everjobs.lk

99RetailStreet, a Cloud-based Common Commerce Platform provides services to “Kades”, individual pharmacies and other small retailers. The 99RetailStreet solution helps the “Unorganised Retail” to compete on an equal footing with “Modern Trade” (Supermarkets) through Sales Growth, Access to and improved Financial Capabilities and increased business efficiencies across the Value Chain. By August 2017, over 300 stores in Sri Lanka will be on the 99RetailStreet platform and this number is expected to increase significantly in coming months. The size of the addressable local market is approximately US$ 23 billion, spanning more than 100,000 outlets. There are also plans to enter other markets in South East Asia, Australia, Africa and Latin America in future. This unprecedented growth trajectory has been buoyed by a recent investment round that raised US$ 1 million. The round was led by Sri Lanka- and Singapore-based venture capital firm BOVCapital. 99RetailStreet was founded jointly by Alok Jayant, Joydeep Dutt and Sandeep Mahapatra. A former Retail Lead for SAP in India, Bangladesh and Sri Lanka, Mr. Jayant spent more than a decade at SAP. He is widely recognised as an Expert in Retail, having closed multi-million dollar deals while at SAP. With almost two decades in FMCG, Retail and Commodities, Mr. Dutt previously led the Sales Strategy Management Consulting Practice at Ernst and Young. He has also worked at Hindustan Unilever and Accenture in markets in India and South East Asia. A Director of SAP Consulting Services in his previous role, where he was responsible for the South Indian and Sri Lankan markets, Mr. Mahapatra had built the SAP Sri Lanka business from the ground up, into a multi-million dollar entity. He has earned very strong relationships at board levels across most of the large companies in Sri Lanka. A 20-year veteran in IT and Retail, Mr. Mahapatra’s deep expertise is enhanced by his time at IBM, HCL and Accenture in prior stints. “99RetailStreet has a large growing customer base of unorganised retailers and an Eco-system comprising of Market Leaders across FMCG, Pharma, Telco, Banking and Financial Services Industry. We have built the capability to address the requirements of the Sri Lankan market. The neutrality of the 99RetailStreet platform and the constant Value Added to our Customers and the Eco-system, along with our constant innovation and ability to adapt, has resulted in success in a short period,” noted 99RetailStreet’s founders. The 99RetailStreet solution provides unorganised retailers with an integrated Point of Sales (POS) machine and payment systems in their stores connected to the 99RetailStreet Cloud. The POS machine has two Screens, the first screen hosts a user-friendly multilingual interface for the retailer to access Retail Transactions and Reports, while the second screen allows real-time, location and context dependent Advertisement, Promotions and Loyalty Programs for Brand Owners such as FMCG companies, Banks, Telcos and other Advertisers with two-way communication possibilities. The latter gives 99RetailStreet’s brand owners and Eco-system Partners an unprecedented opportunity to communicate and develop Customer Experience at the level of an individual end-consumer. The 99RetailStreet platform enables real time monitoring of store-specific sales, inventory and back-end solutions, enabling small businesses to access analytics on sales data, loyalty programs and other marketing-centric information, as and when required. Established to invest in, and work closely with, early-stage ventures in Sri Lanka, BOVCapital funds ventures in the range of US$ 100,000 to US$ 2 million. With a significant amount of local experience, the founders of BOV Capital have invested in over 20 ventures in Sri Lanka over the last five years, having been instrumental in developing the Sri Lankan entrepreneurial Eco-system and, as such, providing valuable advice based on an in-depth understanding of Sri Lanka’s unique working environment. BOV Capital General Partner Prajeeth Balasubramaniam commented that “our experience in the local Eco-system has helped 99RetailStreet not only get the funding they need, it has also aided them in securing a number of valuable client partnerships, to fast-track their business growth in Sri Lanka. Our hands-on approach, in terms of providing advice and even access to local networks, has undoubtedly facilitated the best opportunities for ventures like 99RetailStreet.”

Cool Kidz new Kids Showroom experience in Colombo

Envoy London’s new Brand Ambassador Mr. England 2017 Jack Eyers excited to visit Sri Lanka

Mastercard and PayPal expand partnership in Asia Pacific to spur mobile and digital commerce

Waters Edge wins big at Culinary Art & Food Expo 2017

Isura Sirisena launches Sri Lanka’s first-ever portal for Free Corporate Secretarial Advice – www.companysecretary.lk

Sri Lankan shares end lower; post 3rd straight weekly fall

DFCC Bank recognised at Germany’s Karlsruhe Sustainable Finance Awards For 5th Consecutive Year

Tickets for Sri Lanka-India cricket series available online on BookMyShow

Plastindia 2018 holds preview meeting in Sri Lanka

CFA Sri Lanka Capital Market Awards recognize the best in the investment profession

Ceylon Chamber to hold seminar on “The Best Corporate Citizen Sustainability Award 2017”

Sri Lanka’s First Ever Colombo International Shopping Festival In October 2017

Advantis Bunkering Further Strengthens Commitment to Safety with OHSAS Certification

Sunshine group profits rise by 32.5% YoY to Rs. 540 million in 1Q18

HNB Grameen recognized as one of Sri Lanka’s ‘Greatest Places to Work’

Holiday at Cocoon Resort & Villas… Why? Coz Dominic Kellar says So…

Sunshine’s Vish Govindasamy calls for ramping up skills of local workers to capitalize on China’s One Belt – One Road initiative

Toyota Lanka supplies Prime Movers to CPSTL

How Internet Businesses are shaping the Sri Lankan Economy

Cloud-based 99RetailStreet ‘Unorganised Retail’ platform now in Sri Lanka