Nestlé wins ‘Highest Value Added Exporter’ for Coconut Kernel products at Presidential Export Awards

September 25, 2017, 7:09 am

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~ Continues to support local livelihoods whilst enhancing foreign earnings for Sri Lanka  Nestlé has won ‘Highest Value Added Exporter’ in the Coconut Kernel Product category at the recent Presidential Export Awards. This marks the sixth Presidential Export Award for the company, in recognition of its strong contribution to national exports, and efforts to create sustainable livelihoods for local coconut growers and farm workers.  Nestlé Lanka is one of the world’s largest exporters of coconut milk powder. The product is exported to over 50 countries, and is sold locally under the Maggi brand. It is manufactured in Nestlé’s state-of-the-art factory in Kurunegala, where the company procures around 80 million Sri Lankan coconuts every year; providing a livelihood to close to 6,000 local coconut farming families. Said José Roldán, Vice President – Supply Chain at Nestlé: “We are honoured to accept this award in recognition of our success in exporting Sri Lankan coconut milk powder. We pioneered the manufacturing of coconut milk powder in the 1980s and have continued to invest in the local coconut industry since. Our efforts have made Sri Lankan coconut milk powder one of the most sought after in the world; offering the best taste, highest quality and minimal environmental impact.”     Nestlé’s coconut milk powder is used by culinary professionals globally for a variety of dishes, as well as by world leading manufacturers of confectionery products like chocolates and ice cream. With coconut waste a growing concern in the face of crop scarcity in the island, it also offers consumers a more efficient way of using coconut milk. Authorities estimate only 65% of the coconut kernel is extracted from the raw fruit when used in-home. Coconut milk powder, in contrast, utilises as much as 85% of the coconut kernel. To help secure coconut cultivation and rural livelihoods, Nestlé launched the Nestlé Coconut Plan in late 2016, in collaboration with the Coconut Cultivation Board. 2,000 coconut farming families received 10,000 high yield coconut plantlets, and benefit from comprehensive training programmes as well as model farms to help benchmark best practices. The Plan encourages coconut cultivation by commercial farmers as well as home growers, both within the coconut triangle and outside, in areas identified as high potential for successful coconut cultivation.     More recently, Nestlé initiated a significant investment to enhance its manufacturing capacity for coconut milk powder to support demand, in consideration of the high growth potential in both local and export markets. Said Shivani Hegde, Nestlé Managing Director: “We believe our purpose as a company is enhancing quality of life and contributing to a healthier future. We are honoured and most proud to be recognised for our strong exports performance, and for our work in investing in projects that make a difference to our farmers, their families and workers. By supporting them we build stronger communities, which in turn help to ensure the long term security of the industry.”    The Presidential Export Awards is an annual event that recognises and awards companies that have made a significant contribution to the local exports sector. It is organised by the Sri Lanka Export Development Board. Previous awards won by Nestlé include ‘Best Exporter of the Coconut & Coconut Based Product Sector’ in 2010 and 2013, ‘Best Exporter of the Food & Other Beverages Product Sector’ in 2011, and ‘Best Multinational Company (MNC) engaged in Exports’ in 2014 and 2015. About Nestlé: Nestlé is the world’s largest food and beverage company. It is present in 189 countries around the world, and its 328,000 employees are committed to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future. Nestlé offers a wide portfolio of products and services for people and pets throughout their lives. It’s more than 2000 brands range from global icons like Nescafé and Maggi to local favourites like Nestomalt.  Company performance is driven by its Nutrition, Health and Wellness strategy. Nestlé is based in the Swiss town of Vevey where it was founded more than 150 years ago. Nestlé Lanka has operated in Sri Lanka since 1906 and manufactures most of its products locally, largely using local ingredients. It is one of the top four companies on the Colombo Stock Exchange in terms of market capitalization, and contributes to the livelihood of over 25,000 farmers.  It has been recognized as the Number 1 Most Respected Food and Beverage Company in the country (LMD Most Respected Entities ranking for 2017). Visit www.nestle.lk for more information. Photo caption: (Above from left) Lakshika Weeramundage, Nestlé Senior Manager – Exports; Indira Malwatte, Chairman – Export Development Board; Dr. Harsha de Silva, Deputy Minister of Foreign Affairs and Chandani Wijewardana, Secretary – Ministry of Development Strategies and International Trade 

Rajiv Dharmarajah, Nestlé Senior Executive – Procurement; Sujeewa Priyadarshana, Nestlé Assistant Manager – Financial Reporting; Shivani Hegde , Managing Director – Nestlé Lanka; José Roldán, Nestlé Vice President – Supply Chain; Lakshika Weeramundage, Nestlé Senior Manager – Exports; Satish Daswani, Nestlé Assistant Manager – Exports; Sathya Goonasekera, Nestlé Assistant Manager – Supply Planning; Sujeewa Pinto, Nestlé Assistant Manager – Customer Services; Dhanushke Ramanayake, Nestlé Manager – Procurement and Mohamed Sazmin, Nestlé Assistant Manager – Management Accounting

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Sri Lankan shares fall to one-week low as blue chips decline

September 25, 2017, 7:09 pm

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Reuters – Sri Lankan stocks fell for a third straight session on Monday to a one-week closing low as investors sold shares in market heavyweights ahead of the central bank’s policy rate decision.

Sri Lanka’s central bank is expected to keep its key interest rates steady on Tuesday, a Reuters poll showed, to support a stuttering economy even as inflation accelerates amid strong credit growth.

The Colombo stock index ended 0.24 percent weaker at 6,412.07, its lowest close since Sept. 18.

Shares of Nestle Lanka Plc fell 0.9 percent, while conglomerate John Keells Holdings Plc ended 0.6 percent weaker, and Browns Investments Plc dropped 3.1 percent.

“Most of the investors are on the sidelines awaiting the policy rates decision,” said Hussain Gani, deputy CEO of Softlogic Stockbrokers.

Turnover stood at 793.9 million rupees ($5.19 million), compared with this year’s daily average of about 919 million rupees.

Foreign investors who bought a net 17.7 billion rupees worth of equities so far this year turned net sellers for the first time in six sessions. They sold 59.2 million rupees worth of shares on Monday.

Current Monetary Policy Stance Is Appropriate – Monetary Board

September 25, 2017, 7:15 pm

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Considering developments and outlook in the domestic and international macroeconomic environment, the Monetary Board, at its meeting held on 25 September 2017, was of the view that the current monetary policy stance is appropriate and decided to maintain the policy interest rates of the Central Bank of Sri Lanka at their present levels. Given below are the key factors that the Monetary Board considered in arriving at the decision. According to the provisional estimates of the Department of Census and Statistics (DCS), the Sri Lankan economy expanded at the moderate pace of 4.0 per cent, year-on-year, in the second quarter of 2017, in comparison to 3.8 per cent year-on-year growth in the first quarter of 2017. Economic growth continued to be affected by extreme weather conditions and weak external demand. In terms of value addition, key growth drivers in the first half of the year were construction, mining and quarrying, financial service activities, and wholesale and retail trade. Although disruptions to near term growth prospects continue, forward looking indicators show improved medium term prospects, which are likely to be realised with the envisaged structural reforms and expected inflows of foreign investments. Headline inflation based on both Colombo Consumer Price Index (CCPI, 2013=100) and National Consumer Price Index (NCPI, 2013=100) increased in August 2017, reflecting the base effect of tax revisions as well as higher prices of food items. Core inflation, based on both CCPI and NCPI also recorded an uptick in August 2017. Nevertheless, projections indicate that inflation will revert to the envisaged mid-single digit levels by end 2017 and stabilise thereafter, underpinned by tight monetary conditions that have been in place from the beginning of 2016. The growth of credit extended to the private sector by commercial banks has shown a gradual deceleration since July 2016, responding to the prevailing high nominal and real interest rates in the domestic market. So far during the year, net credit extended to the government (NCG) by the Central Bank has declined sharply, although NCG by the banking sector has been high. A moderate expansion of credit to public corporations has also been observed during the year. However, the expansion in the net foreign assets (NFA) of the banking sector, as a result of the buildup of NFA of the Central Bank and the reduction in foreign liabilities of commercial banks, caused broad money (M2b) growth to remain at elevated levels. Meanwhile, deposit and lending rates appear to have stabilised, partly in response to the recent decline in yields on government securities. In the external sector, earnings from exports maintained its positive growth for the fifth consecutive month in July 2017. However, the cumulative trade deficit widened in July 2017 as a result of the rise in import expenditure, partly attributed to weather related disruptions to power generation and food production. Tourist arrivals and associated foreign exchange inflows grew on a cumulative basis. Workers’ remittances also increased in July 2017, although declining on a cumulative basis during the year owing to sluggish economic performance and geo-political uncertainties in the Middle East. The rupee denominated government securities market and the Colombo Stock Exchange (CSE) continued to attract foreign inflows. Amidst these developments, the Central Bank cumulative purchases of foreign exchange from the domestic market exceeded US dollars 1.1 billion on a net basis, and gross official reserves improved to around US dollars 7.3 billion by 21 September 2017 from US dollars 6.0 billion at end 2016. With increased flexibility in the determination of the exchange rate, the pressure in the domestic foreign exchange market has eased considerably, resulting in a cumulative depreciation of the Sri Lankan Rupee against the US dollar by 2.0 per cent up to 22 September 2017, in comparison to the depreciation of 3.8 per cent observed in 2016. In view of the above, the Monetary Board decided to maintain the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.25 per cent and 8.75 per cent, respectively.

Global Trade Rebound Boosts Growth in Asia and the Pacific

September 26, 2017, 1:30 am

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HONG KONG, CHINA (26 September 2017) — Growth remains strong across most of developing Asia as a result of the broad-based recovery in global trade, robust expansion in major industrial economies, and improved prospects for the People’s Republic of China (PRC). This will combine to push growth in developing Asia for 2017 and 2018 above previous projections, says a new Asian Development Bank (ADB) report. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2017, ADB forecasts gross domestic product (GDP) growth of 5.9% in 2017 and 5.8% in 2018 for developing Asia. “Growth prospects for developing Asia are looking up, bolstered by a revival in world trade and strong momentum in the PRC,” said ADB Chief Economist Yasuyuki Sawada. “Countries in developing Asia should take advantage of favorable short-term economic prospects to implement productivity-enhancing reforms, invest in badly needed infrastructure, and maintain sound macroeconomic management to help increase their long-term growth potential.” Growth across developing Asia is buoyed by a revival in trade. The dollar value of the region’s exports surged by 11% in the first 5 months of 2017 over the same period in the previous year, and the value of its imports rose by 17%. The pickup follows two consecutive years of contracting export values caused by falling commodity prices and subdued external demand for manufactures. Excluding the PRC, the eight largest regional developing economies saw real manufacturing exports rebound. Industrial economies’ growth will reach 2% in 2017 and 2018, up by 0.1 percentage points from the April 2017 forecast. Consumers are keeping the world’s largest economy on track, as the United States’ expansion enters its ninth year. Growth in Japan surprised on the upside, spurred by a combination of improving consumer confidence and business sentiment. Expansive fiscal and monetary policies, easing political uncertainty, and robust market confidence are driving the recovery in the euro area, the report said. Expansionary fiscal policy and unanticipated external demand helped the PRC exceed expectations in the first half of 2017. Output will increase 6.7% in 2017, an increase of 0.2 percentage points over the previous forecast. In 2018, growth will slow to 6.4% as anticipated reforms to trim industrial overcapacity and reduce financial risks kick in. India continues its strong showing, although demonetization and implementation of the new goods and services tax regime have dented consumer spending and business investment. These short-term disruptions are expected to dissipate, allowing these initiatives to generate growth dividends over the medium term. India’s GDP growth is downgraded to 7% in FY2017, a 0.4 percentage point drop from the April forecast. In FY2018, the forecast is adjusted down to 7.4% from 7.6%. Southeast Asia, meanwhile, is set for stronger growth as output accelerates steadily from 5% in 2017 to 5.1% in 2018, an upgrade from 4.8% and 5% in the previous forecast. Regional growth will be led by rising exports from Singapore and Malaysia, while the forecasts for regional leaders Indonesia and Thailand are maintained. Growth forecasts for Central Asia are revised up this year and next amid stable oil prices, improving prospects for the Russian Federation, and rising remittances. The Pacific outlook, on the other hand, is retained for 2017 but adjusted slightly downward for 2018 as prospects for the largest Pacific economies—Papua New Guinea and Timor-Leste—are unchanged. Risks to the region have become more balanced. Loose fiscal policy in the US and lower oil prices are potential upside risks to the region, while downside risks include tighter global liquidity, economic disruption from a geopolitical event, or a weather-related disaster. While the region remains better prepared for potential risks from the US unwinding its quantitative easing, high debt levels in Asia and the Pacific now pose a risk to financial stability. Because long-term interest rates in many Asian economies are closely linked to those in the US, policy makers need to strengthen their financial positions further and monitor debt levels and asset prices. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.

Altair links to the world with Dialog Broadband Fibre

September 26, 2017, 2:59 am

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Every apartment to receive state-of-the-art ultra-high-speed connectivity solution

Residents of Altair, the inimitable twin tower residential high-rise nearing completion, are to be provided ‘fibre-to-home’ – a state-of-the-art high-speed fibre connectivity solution by Dialog Broadband Networks, under an agreement ratified recently. Encompassing high-speed data services of up to 100 Gbps for Broadband Internet, Wi-Fi and IPTV, the facility can also be used for home automation which enables residents to manage their AV, lighting, air-conditioning and selected appliances through their smartphones. Additionally, a hosted PABX will support an intercom facility for residents, connecting apartments with the front desk and other common locations such as the gymnasium and recreation centre, spa, Building Manager and security. “We have chosen Dialog Broadband as our connectivity solutions provider for the company’s ability to be among the first to rollout the latest advancements in technology in the local market,” Altair Director Pradeep Moraes said. “This is another example of our continuing efforts to exceed customer expectations by offering more than is promised in our contracts with apartment owners.” Apartment owners would however have the freedom to choose any other Internet Solutions Provider if they so wish, Mr Moraes said. Jeremy Huxtable, Group Chief Officer of Dialog Enterprise said: “We welcome the opportunity to provide our Broadband services to a game-changing residential development of the calibre of Altair. The fibre optic internet we provide connects through Dialog Broadband Networks’ owns Submarine Fibre Optic Cable –BBG (Bay of Bengal Gateway) – that delivers over 6.4 Terabits per second of international bandwidth to Sri Lanka with direct access to the Google and FB servers. Altair will receive internet at a significant speed within this capacity.” Besides speed, the other primary benefits of Dialog Broadband Networks’ fibre-to-home solution are convenience and safety. Unlike copper, fibre significantly increases reliability of connectivity and eliminates risks such as interference from electronic or radio signals, inclement weather and human or electrical interference. The signal strength of fibre-optic Internet does not degrade as quickly over distance. Fibre-optic Internet also eliminates delays that occur while processing data over a cable Internet connection — termed latency issues — especially when streaming video or high-definition content. Scheduled for completion in July 2018, Altair comprises of two tower blocks, a 63-storey sloping tower which leans in to a taller, 68-storey vertical tower. Acknowledged as a new paradigm in contemporary living in Sri Lanka, the Altair building has already brought a new dimension in aesthetics to Colombo’s skyline. A one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience, Altair offers its 400 apartments spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo. The development’s 1.5 million square feet of high-end eco-friendly living space will be supported by 40,000 square feet of up-market retail space. The building was designed by the globally renowned celebrity architect Moshe Safdie.

Photo caption : Altair Director Pradeep Moraes (right) and Dialog Enterprise Group Chief Officer Jeremy Huxtable.

Sampath Bank’s ‘Green Inventor’ workshop to help young inventors go green

September 26, 2017, 9:29 pm

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Sampath Bank, one of the nation’s most innovative banks, in their continuing bid to secure a sustainable future recently held a workshop for the “Sampath Green Inventor” competition finalists at the Buddhist Cultural Centre. The 78 finalists were shortlisted from 17 state and private universities for the final round to present their inventions which are designed to help environmental conservation. The workshop itself aimed to groom the young inventors in the principles of “product development and socially responsible entrepreneurship” that form the basis of the competition. The workshop was also attended by the eminent panel of judges as well as prominent figures involved in environmental conservatism to guide the finalists on their journey. The inventors were provided with an understanding on the necessity and the positive impact of developing green inventions. “Our impact on the environment is a very important question that must be addressed. As we begin to come to terms with how we have been treating the world around us it falls on the inventors, the dreamers, the innovators to envision a path to a greener future. We are dedicated to provide these inventors with the necessary tools and platform needed to help create viable solutions to ultimately reduce the harm we are doing the environment thereby creating a sustainable world for future generations,” said Mr. Lalith Weragoda, Assistant General Manager – Human Resources, Sampath Bank PLC. The primary focus of this competition is to encourage young inventors in Sri Lankan universities to provide sustainable solutions for environmental protection and conservation with green innovations. The winners of the competition will be awarded with cash prizes and valuable trophies. Selected participants will receive certificates for their commitment towards the competition and the repective universities of the winners will also be recognized. Established in 1987 Sampath Bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to their constant innovation and customer focused approach to business. Their unique tailor-made solutions, superior services and convenience of access have allowed Sampath Bank to further differentiate them from the competition and make them the bank of choice for many in Sri Lanka.

Gateway College and Hatton National Bank partner to launch a novel Smart Pay card for students

September 26, 2017, 9:44 pm

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Sri Lanka’s most technologically innovative bank, HNB PLC announced a breakthrough partnership with Gateway College to introduce HNB Smart Pay – a revolutionary new proprietary card that will completely streamline payments and attendance recording for the school. Through the new partnership, each student at Gateway College from Year 5 to Year 13, will be provided with a Smart card that will be capable of serving both as a school identity card for recording and monitoring of attendance and as a key to a cashless payment system within the school, enabling students to quickly and conveniently pay school fees and carry out other transactions at authorized locations in the school including the school canteen and bookshop. Notably, the card – which leverages Near-field Communication (NFC) technology for greater user convenience – will also allow students to make payments at selected partner outlets including Hameedias, enabling students to routinely benefit from the convenience of cashless payments even for such tasks as purchasing of school uniforms. Commenting on the significance of the new partnership, Gateway Chairman, Dr. Harsha Alles said: “We are confident that the launch of this new student card will immensely benefit the child, the parent and the school to enhance the systems and processes to prepare themselves for the technological advances in the future.” Another key feature of the Smart Pay card from HNB for schools is the improved visibility that parents gain into their children’s spending. A parent now need only load the amount of money needed for the card, meaning that students will no longer be required to carry cash with them. This will provide even greater security for the child, and provide parents with greater peace of mind, while HNB will send out SMS alerts to parents whenever the card is used for any time of transaction. “HNB is very pleased to introduce the convenience of our Smart Pay card to Gateway College. In today’s increasingly fast-paced world, the creative and strategic use of technology can have far- reaching positive implications. With this launch, we aim to empower students to understand the power of a well-developed savings habit and also to raise their awareness and help them to gain familiarity with a cashless payment eco-system. Utilizing these tools, we look forward to partnering with these students in their journey towards a more stable and secure financial future,” HNB Managing Director/CEO, Jonathan Alles stated. The joint initiative between the two reputed organisations was made possible through the specialized expertise developed by both Gateway and HNB in their own spheres of activity. Hatton National Bank through its innovative technological background and substantial customer centre network was able to introduce the initiative to the network of Gateway Colleges. Similarly, Gateway, through its use of an in-house School Management System, School Online (SOL) was able to rapidly integrate the facilities offered by the Smart Card to achieve their goal of converting the school a paperless environment. Photo caption: (Above – from left) Mrs Surani Maithripala, Team Leader – Change Management of Gateway College, Dr Harsha Alles, Chairman of Gateway Group, Mr Dilshan Rodrigo Chief Operating Officer of Hatton National Bank and Mr Roshantha Jayathunge Head of Cards – HNB

Dr. Harsha Alles Chairman of Gateway Group, Mr Dilshan Rodrigo Chief Operating Officer of Hatton National Bank and Mrs Devika Alldis, Principal of Gateway College Negombo handing over the HNB Smart Pay card to Master Shavindra Jayakody of Gateway College Negombo

Administrative Officials of HNB and Gateway College, along with students who received the HNB Smartpay card at the launch

amanté launches inspiring new Autumn-Winter 2017 collection

September 26, 2017, 9:56 pm

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~ New amanté Autumn-Winter collection pays tribute to the muse that inspires Drawing its inspiration from the rousing examples of successful women who have persevered against the odds, leading intimate apparel label amanté unveiled its Autumn-Winter 2017 “Muse” Collection at a fittingly inspiring showcase. The chic new collection was launched on 21 September 2017 at the ARQ Style House, where ladies were invited to find their muse, and celebrate those women that have dared to forge ahead. In keeping with the theme of evening, prominent Sri Lankan thespian, speaker and activist Shanuki de Alwis shared her experience in overcoming a fear of public speaking, and the inspiration she took from the example of her own personal muse, her mother. Pointing to examples when women had dared to defy social norms to make lasting changes to their society and culture, she urged to draw strength from the examples of those who came before, and inspire the next generation to strive to even greater heights. amanté is the first Sri Lankan brand to design intimate wear to compliment the silhouettes of the South Asian woman. “With our Autumn-Winter collection we hope to move the amanté brand into a space that speaks to the aspirations of the modern Sri Lankan woman. Each style in our new collection was created to give expression to the grace and strength of the feminine spirit,” Sasanka Bandara, General Manager-amanté Sri Lanka and Bangladesh explained. Designed to inspire, the new collection pays tribute to the graceful femininity and strong substance of women everywhere – it celebrates women with courage to take risk in pursuit of a dream, those that embrace adventure, and those that persevere against overwhelming challenges. The collection weaves together a striking color palette of rich reds and blues, mixed with smooth and light floral prints, elegant strips and botanical prints. amanté’s “Muse” collection is built around five styles: Lace Marvel, a padded, full cover lace bra with a pretty front picot strap with lightweight lace that sweetly transitions from dots to a floral and then geometric designs for a layered effect; Floral Fantasy, a tasteful and sophisticated padded, full cover bra that showcases an entwined floral design; Floral Blossom, a full cover wired bra with cups of printed microfiber inspired by the fragile beauty of nature; Delicate Bloom, amanté’s best-selling non-wired silhouette renewed in a limited edition seasonal print and Twilight Wonder, a demi-bra that offers less coverage for a youthful fit and a smooth, clean neckline. The collection will be available at the flagship amanté Boutiques at the Racecourse Mall in Colombo 07 and Kandy City Centre, where experienced fit consultants can guide customers to make the choice that fits best. The brand is also available at leading modern trade retail outlets island-wide and on the amanté online site global.amantelingerie.com for worldwide shipping and delivery. Photo caption: (Above) Shanuki de Alwis shared her experience in overcoming a fear of public speaking, and the inspiration she took from the example of her own personal muse, her mother at the launch event and (below) models showcasing amanté’s Autumn-Winter 2017 collection ‘Muse’ at the launch event

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JAT breaks ground at ‘96 Residencies’

September 26, 2017, 10:03 pm

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Following the success of its two previous projects, 77^th on 4^th, Nawala and Forest Hill Villas, Amunugama, JAT Property Group, a vertical of JAT Holdings, broke ground on its third development project, ‘96 Residencies’,  in Pagoda, Nugegoda. The well-attended event was held at the auspicious hour of 9.35 am on Thursday 21 September 2017 in the presence of many invitees. Among them were Mr. Indika Samarasinghe and Mr. Varuna Gomis from IWA, Mr. Kalana Alwis, Mr. Hettiarchchi and Mr. Wickremasinge from Nawaloka Construction, Prof. Chithra Weddikkara and Mr. Susil Weddikkara from Qserve and Mr. Mahendra Jayalath of EnergySolve International. JAT Holdings was represented by its Managing Director Mr. Aelian Gunewardene and Director Mr. Richard Gunewardene. JAT Holdings has been in the business of transforming spaces for the past 24 years and has a reputation for offering its customers extremely high quality products. The core value of exceeding customer expectation is deep rooted in the corporate culture and stems from the Managing Director and founder himself, Mr. Aelian Gunewardene. ‘96 Residencies’, aptly named after its postal address, 96 Pagoda Road, consists of 54 luxury apartments. The unit mix consists of 2 and 3 bedroom units and is conveniently located close to the Kotte junction. The building will occupy a space of 52 perches in a rapidly developing neighbourhood. The building consists of 3 floors of parking including the basement floor as well as 9 floors of residential units with six units per floor. The rooftop floor consists of 2 swimming pools – a kids’ pool and an adults’ pool, a fully equipped gym, a BBQ grill and a common area for residents to relax in the evenings and enjoy a beautiful sunset. The 2 and 3 bed room apartments range from 900 sq. ft. – 1475 sq. ft. and are completed with luxury fittings. With an average square foot price of Rs. 22,875, a private to common area ratio of 3:1, ‘96 Residencies’ offers its customer great value for money and would be second to none when compared with other residential apartments in this price range. 96 Residencies was designed by IWA architects and will be constructed by Nawaloka Construction. The project will be managed by Qserve, is scheduled to be completed in 18 months and will be environmentally friendly. The water used for washing cars and irrigating the plants and grass on the premises will be harvested rain water.  Further, parking slots will be equipped with a charging port for electrical vehicles. The state-of-the-art building will be equipped with CCTV cameras, smart card access keys and a 24 hour security service. A number of units have already been sold in the pre-launch but there are many still remaining for those looking for a luxurious apartment to live in or for those simply looking for a good investment.  Please call 0772103030 or 0771773030 or email: 96residencies@jatholdings.lk Photo caption: (Above) Ground breaking at ‘96 Residencies’ at the auspicious hour

96 Pagoda Road Nugegoda, where ’96 Residencies’ will majestically rise in eighteen months

Sri Lankan shares edge up from 1-wk low as investors buy blue chips

September 26, 2017, 10:23 pm

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Reuters – Sri Lankan shares rose on Tuesday for the first time in four sessions, rebounding from a one-week closing low, as investors picked up banking and beverage stocks after the central bank held the policy rates steady.

The Sri Lankan central bank on Tuesday held its key rates steady, saying past steps were keeping inflation and credit growth under control, as policymakers focus on supporting an economy hit by extreme weather.

The Colombo stock index ended 0.12 percent higher at 6,419.61, edging up from its lowest close since Sept. 18 hit on Monday.

Shares of People Leasing Plc rose 2.9 percent, while conglomerate John Keells Holdings Plc ended 0.4 percent firmer, and biggest listed lender Commercial Bank of Ceylon Plc ended 0.7 percent up.

“It was a bit of a slow day with some foreign outflow,” said Dimantha Mathew, head of research at First Capital Holdings.

“High local interest in plantation sector and some block deals in blue chips were seen as a positive sign. Foreigners are inactive and global funds are shifting towards U.S. expecting a possible fed rate hike in December.”

Turnover stood at 532.3 million rupees ($3.48 million), compared with this year’s daily average of about 917 million rupees.

Foreign investors who bought a net 17.6 billion rupees worth of equities so far this year were net sellers for the second straight session. They sold 54.2 million rupees worth of shares on Tuesday.

Finance Ministry calls for proposals for Budget 2018

September 26, 2017, 11:33 pm

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Ministry of Finance calls for proposals from all stakeholders including the general masses to be included in the Budget – 2018, to be presented in Parliament in November this year.

Since the government has a plan to introduce a successful budget targeting  building a strong Economy, an Enriched country and creation of one million employment opportunities, people are invited to submit their proposals to enhance the opportunities in those fields to the Ministry of Finance, The Secretariat, Colombo 01, or to the email: info@itmd.treasury.gov.lk before the 15th October 2017. Democracy, Reconciliations and Development are the three main pillars on which the Unity government has been formed in order to fulfill the economic needs as well as the aspirations of the masses of the country. Therefore, the Professionals, scholars and those who are engaged in the Manufacture, Services and the Agriculture, the three main sectors of the economy are requested to contribute with their proposals for the budget – 2018. The government since it came in to office has achieved tremendous success in the fields of free education and health making them accessible to all whilst completing the construction of 200,000 houses for the homeless people. The Minister of Finance and Mass Media Mangala Samaraweera will present budget – 2018 in the Parliament on 9th  November, aiming at  building an enriched country with a strong economy for creation of one million employment opportunities. This will pave the way for introducing reforms in the financial and administrative sectors to broad base the opportunities for the public and private sector involvement in the economic activities of the country.

Domestic LP Gas price revisions allowed

September 26, 2017, 11:45 pm

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District-wise LPG MRPs too issued

The Consumer Affairs Authority (CAA) has sent a Price Determination Notification (PDN) 26 September to the domestic Liquefied Petroleum Gas (LPG) suppliers Litro Gas Lanka and LAUGFS Gas PLC, allowing them to revise their domestic LPG prices.  Accordingly new District-wise LPG Maximum Retail Prices too have now been finalised by the CAA. The 26 September PDN is issued in accordance with Section 18 of CAA Act and is in response to previous applications to do so by the domestic LPG supplier firms Litro Gas Lanka and LAUGFS Gas PLC to allow them to revise their LPG prices in the market. Accordingly, price increase of Rs 110.00 is allowed for a 12.5 Kg LPG Cylinder, price increase of Rs 44.00 is allowed for a 5Kg LPG Cylinder, and a price increase of Rs 20.00 is allowed for a 2.3 Kg LPG Cylinder. The new prices can be effected by these supplier firms starting 1.00am on Tuesday 26 September. The new District-on-District MRPs for LPG are Colombo (12.5kg-Rs 1,431.00, 2.3kg Rs 288.00, 5 Kg Rs 606.00), Gampaha (12.5kg-Rs 1,442.00, 2.3kg Rs 304.00, 5 Kg Rs 611.00), Kalutara(12.5kg-Rs 1,450.00, 2.3kg Rs 306.00, 5 Kg Rs 616.00), Puttalam(12.5kg-Rs 1,466.00, 2.3kg Rs 307.00, 5 Kg Rs 621.00), Kegalle(12.5kg-Rs 1,470.00, 2.3kg Rs 309.00, 5 Kg Rs 626.00), Kurunegala(12.5kg-Rs 1,469.00, 2.3kg Rs 309.00, 5 Kg Rs 626.00), Galle (12.5kg-Rs 1,473.00, 2.3kg Rs 310.00, 5 Kg Rs 626.00), Ratnapura(12.5kg-Rs 1,473.00, 2.3kg Rs 308.00, 5 Kg Rs 626.00), Kandy(12.5kg-Rs 1,483.00, 2.3kg Rs 310.00, 5 Kg Rs 631.00), Matara(12.5kg-Rs 1,486.00, 2.3kg Rs 312.00, 5 Kg Rs 631.00), Matale(12.5kg-Rs 1,487.00, 2.3kg Rs 311.00, 5 Kg Rs 636.00), Trincomalee(12.5kg-Rs 1,509.00, 2.3kg Rs 315.00, 5 Kg Rs 646.00), Anuradhapura (12.5kg-Rs 1,507.00, 2.3kg Rs 314.00, 5 Kg Rs 646.00), Polonnaruwa (12.5kg-Rs 1,507.00, 2.3kg Rs 313.00, 5 Kg Rs 646.00), Vavuniya(12.5kg-Rs 1,508.00, 2.3kg Rs 309.00, 5 Kg Rs 646.10), Mannar(12.5kg-Rs 1,526.00, 2.3kg Rs 309.00, 5 Kg Rs 655.80), Hambanthota(12.5kg-Rs 1,509.00, 2.3kg Rs 315.00, 5 Kg Rs 646.00), Monaragala (12.5kg-Rs 1,540.00, 2.3kg Rs 316.00, 5 Kg Rs 661.00), Badulla(12.5kg-Rs 1,527.00, 2.3kg Rs 315.00, 5 Kg Rs 656.00), Ampara(12.5kg-Rs 1,544.00, 2.3kg Rs 317.00, 5 Kg Rs 661.00),  Nuwara Eliya(12.5kg-Rs 1,521.00, 2.3kg Rs 313.00, 5 Kg Rs 651.00), Batticaloa(12.5kg-Rs 1,542.00, 2.3kg Rs 317.00, 5 Kg Rs 661.00), Jaffna (12.5kg-Rs 1,551.00, 2.3kg Rs 305.00, 5 Kg Rs 665.43), Kilinochchi (12.5kg-Rs 1,535.00, 2.3kg Rs 312.00, 5 Kg Rs 690.65), Mullaitive (12.5kg-Rs 1,534.00, 2.3kg Rs 312.00, 5 Kg Rs 691.16). These MRPs are calculated based on the formula used by CAA.

Mr. Azam Habib Managing Director of Grace Lanka Apparels(Pvt) Ltd is appointed as the President of SLABA

September 27, 2017, 2:32 am

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Sri Lanka Apparel Brands Association (SLABA), an association established to protect and uplift the domestic garment manufacturers of the nation announced Mr. Azam Habib, the Managing Director of Grace Lanka Apparels (Pvt) Ltd, as the new president of its executive committee. The association sees great potential within the domestic manufacturers.With the new appointment, the chairman of SLABA wishes to strengthen and improve the domestic garment manufacturing industry by educating & encouraging its members to ‘think big’ to expand the domestic industry to a whole new level on a bigger platform with modern and innovative technologies. “We have approximately 60 extremely committed members within the Association; each member is committed to achieve the set goals. I see great talent and want within the locals, what we lack is innovation, some have already made arrangements to invest in modern technologies and machinery that will help uplift the industry and assist us to place ourselves within the international market” said Mr. Azam Habib Managing Director, Grace Lanka Apparels (Pvt) Ltd. Grace Lanka Apparels (Pvt) Ltd was established in the year 2005 with just 22 operators. Today the organization employees approximately 300 employeesand is the single largest importer for linen in Sri Lanka. The organization produces linen clothing with 100% authentic linen for men and children and is hoping to introduce a range of ladies clothing in the near future. Anationz is an exclusive brand introducedto the market in 2009 by Grace Lanka (Pvt) Ltd; the brand caters to the modern man with fine taste for fashion and quality. Anationz is the preferred brand for linen clothing amongst most Sri Lankans and is available at many leading stores island wide via its wide network of retail partners. About SLABA The Domestic Garment Manufacturers Association (DGMA) founded by Late Deshamanya A Y S Gnanam was rebranded and incorporated as the Sri Lanka Apparel Brands Association(SLABA) , under the stewardship of Indradatta Dharmawardane.The association was established in order to uphold and safeguard the local garment manufacturers while providing a platform to showcase their produce in the international market. The association has come a long way since its inception and hope to improve further while maintaining environmentally friendly, ethical production traditions.

‘Revello Speciality’ finest handcrafted chocolates designed to embellish unique moments

September 27, 2017, 2:39 am

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Ceylon Biscuits Limited (CBL) as the market leader for chocolates in Sri Lanka introduces ‘Revello Speciality’, a novel range that takes the customer to a new level of indulgence that goes far beyond traditional associations on chocolates such as romance and gifting to a new creative and dynamic form of experience in chocolate consumption with hand crafted chocolates which enables the consumer to experience the artistic and fine organoleptic features in chocolates crafting and consumption. This unique confection is hand crafted with care by CBL’s own chocolatiers with dedication to meet the individual desires of the customer.  Revello Speciality is designed in the bespoke shape, flavour, colour, texture, filling and ensconced in exquisite packaging to match the occasion and the mood it intends to create.  It is also ideal to mark a milestone celebration such as an important company event, or an extra special personal achievement or occasion such as a wedding because it can be customized deliciously and beautifully to match the exact need. What makes gourmet Revello Speciality chocolate amazingly unique and appropriate for an exclusive niche market is that it contains the best ingredients and craftsmanship.  It creates an experience and culture that regular chocolates on the shelf cannot offer because it is individually handcrafted and therefore its creativity has no boundaries. The existing range includes enticing truffles, pralines. ganache in endless variety.  Customers can visit the exclusive Revello Speciality chocolate stores at Crescat Boulevard, Kandy City Centre and Arpico Super Centre, Wattala to experience the different gourmet chocolate offerings available. Nishka Wickramasinghe, Group Director, CBL explained “We have ventured into hand crafted chocolates which are gaining popularity globally , especially because customization and differentiation of smaller batches of chocolates for unique customer requirements is economically viable with this manufacturing process, it enhances our ability to allow the   consumer to experience and enjoy the art and creativity in chocolate-making that is a new organoleptic or mood-creation feature for us in Sri Lanka.” More details on website – http://revellospeciality.lk/ and Facebook page https://www.facebook.com/RevelloSpeciality/

Sadaharitha’s thriving export business relocates to Maharagama

September 27, 2017, 10:31 pm

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Sadaharitha Plantations re-located its thriving export business, Sadaharitha Agri Farms & Exporters (Pvt) Ltd (SAFE) to a more convenient location in Maharagama recently, demonstrating that diversifying has strengthened the business and brings much needed foreign exchange into the country. Sadaharitha is Sri Lanka’s leading commercial forestry business, and is celebrating 15 years of contributing to protecting the environment by growing trees.  The company has over 26,000 customers who have invested in forestry. Sadaharitha Agri Farms & Exporters focuses on exports and has been thriving since its first shipment in 2011.  The company exports fresh and processed dehydrated fruits and vegetables, as well as a wide variety of local produce ranging from coconut and coir-based products, spices and tea to even ready-made, monogrammed chef uniforms and related resorts supplies. SAFE’s clients are world renowned resort hotels, supermarkets and wholesale distributors in Maldives, Seychelles, Mauritius, and gradually developing markets in UAE and Europe.  The company is a member of the National Chamber of Exporters of Sri Lanka and also accredited with HACCP and ISO certifications. “Leading conglomerates we are proud to serve are world renowned hospitality chains such as Robinson Club, Four Seasons, Anantara and Marriott resort hotels” said Sathish Navaratne, Chairman of Sadaharitha Group.  “We take great pride in ensuring freshness from the farm to doorstep with the qualified team of agri professionals who maintain stringent quality controls according to international standards of health and nutrition” he added. SAFE has become one of the leading exporters in the fruit and vegetable sector in Sri Lanka. Crops exported by the company are grown, treated and managed in partnership with the industry professionals and the fresh produce is exported within 24 hours of harvesting. The company participated in the 21^st Century Maritime Silk Road Expo in China in partnership with the Coconut Development Authority.  SAFE also participated at Hotel Asia Exhibition, Food and Hospitality Asia Maldives (FHAM), which were the biggest gatherings of hospitality industry professionals in the South Asian tourist hub Maldives. SAFE also participates at the Pro-Food Pro-Pack AgBiz Exhibition, the biggest ever gathering of food processing and packing industry professionals held in Sri Lanka. The company recently embarked on Poly-tunnel cultivation to enhance productivity of produce and enabling them to supply seasonal crops even during off-seasons. With a long term vision, also as a CSR activity, SAFE conducts workshops for farmers in Gannoruwa to share modern harvesting technology.

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Lanka Hospitals facilitates early detection of Breast Cancer through ultra modern digital Mammography

September 27, 2017, 10:57 pm

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The internationally accredited, multi award-winning Lanka Hospitals Corporation PLC has always been at the forefront of local medical sector for incorporating advanced technologies into its medical practices. As a result, the dynamic hospital brand has introduced the latest digital Mammogram test (Mammography screening) for early detection and prevention of Breast Cancer. According to the World Health Organization Breast Cancer is the most common type of cancer in the world, and nearly 50% of breast cancer cases occur in developing countries. It is also the most curable type of cancer, where survival rates vary between 60% – 80% in the developed countries. However, the incidence of breast cancer is rapidly increasing in the developing countries, with nearly 3000 cases being reported in Sri Lanka every year. Scarcity of proper procedures for early detection and treatment has resulted in the escalation of cases in the developing world. Identifying signs and symptoms and breast screening tests are two methods that help detect breast cancers at early stage, where the latter is conducted through the only effective screening method – the Mammogram exam. “Lanka Hospital conducts mammogram exam using the most modern Siemens equipment, therefore the radiation emitted during the screening is much less. In comparison, a person who uses a mobile phone for 1.5 to 2 years will be subjected to much higher radiation than the amount of radiation emitted during a Mammogram.” Dr. Naomal Perera – Consultant Oncological Surgeon of Lanka Hospitals Corporation PLC said. Elaborating further he added, “Most women think breast cancer is incurable. However, it can be fully cured through early detection. The latest digital Mammogram exam can detect the slightest trace of cancer, even 1 or 2 years before a lump becomes palpable. Early detection of breast cancer prevents the need to undergo painful treatment procedures such as chemotherapy.” According to Dr. Perera, women who are unmarried or without children, those on contraceptive pills, or those who take estrogen, as well as those who have reached puberty at a very early age are at a higher risk of developing breast cancer. Underscoring the importance of early detection, he noted that it’s mandatory for those with higher risk factors, such as ones with positive family history of breast cancer, to undergo a mammography test at least once every 1.5 years, while it is advisable for everyone else to get a mammogram once in every two years to keep their health in check. Lanka Hospital facilitates Digital Breast Tomosynthesis (DBT), which provides a higher diagnostic accuracy compared to conventional mammography. The method creates a 3D imagery of the breast using x-rays, and provides digitized analysis. Lanka Hospital incorporates state-of-the-art Siemens machinery applied solely for radiological investigation, where lumps can be easily localized for the biopsy test. As a hospital brand that values offering optimal service to its discerning customers, Lanka Hospital has established a dedicated Centre for Women, which plays the key role of a one stop centre, where women’s health issues are concerned. The centre houses a special unit to conduct all medical examinations pertaining to breast cancer, and offers same day service with immediate issuance of reports, providing great relief for those who arrive from cities outside Colombo. All reports issued by the dedicated centre for women will be referred to a specialist or a surgeon specially trained in Breast Surgery within the same day.  

&Co by The Steuart unveils its much awaited new menu

September 27, 2017, 11:19 pm

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17 exciting new dishesto take you on a culinary adventure around the world!

  &Co – the exclusive pub and restaurant of The Steuart by Citrus recently unveiled an exciting new menu with 17 exclusive dishes for a whole new experience. Catering mainly to western cuisine lovers since its inception two years ago, The Steuart sits in the elegant Dutch Hospital Precinct surrounded by the busiest corporate offices in Colombo and has become one of the most sought after dining destinations in the big city.   The Steuart’s &Co Pub and Restaurant has constantly sought new ways to please the taste buds of the connoisseurs who drop by for a relaxing meal in a cosy ambiance. As a custom the existing menu undergoes a transformation every four to six months, adding in tastes and flavours inspired from the west to the orient. After long deliberation and brainstorming, the chefs at &Co have decided to include 17 new dishes comprising 3 kinds of bites, 13 mains and one dessert.   Starters & desserts Starters at &Co present an interesting combination of the finest Italian flavours wrapped in the ‘Italian Delight’ along with an infusion of Mediterranean delicacies discovered in the ‘Cold Mezze Platter’. The Italian Delight uses high grade ingredients such as the Buffalo Mozzarella and the Parma ham imported directly from Italy, and will be served with melon and tomatoes offering a rich blend of flavours.   As for desserts, the &Co has made yet another revolutionary change by placing three varieties of dessert choices on a single platter. According to Chef Panduka, The Steuart is popular for offering sizable dessert platters for its customers. But as majority of its customers are office employees from the neighbourhood, they prefer a quick luncheon and often overlook the desserts due to time constraints. Taking the matter into account Chef Panduka and his team of culinary experts have introduced the ‘Trio of Desserts’ – with a three in one option, appealing to more palettes. The new dessert menu will offer you with a heavenly combo of Tiramisu, Chocolate Mousse and Apple Tart.   The Mains As for the Main dishes, &Co has prioritised on preserving its Scottish -British flavours while catering to the rising demands of traditional Sri Lankan flavours. Creating new trends in the gastronomic encounters, &Co presents its new menu serving ‘Vegetable Risotto’, ‘Traditional Sri Lankan Beef Curry’ and ‘Thai Me Up’. While the Risotto caters to veggie lovers, the traditional Sri Lankan Beef Curry satisfies the meat lovers seeking authentic taste in pork and beef curries outside their homes.  And for those craving for a spicy yet saucy noodle dish, ‘Thai Me Up’ is the ideal choice. Inspired by Mongolian flavours, Thai Me Up incorporates the Pad Thai noodle and comes in 4 distinct varieties such as Chicken, Beef, Pork and veggie. Customers can also request for a mixed option with the goodness of all flavours in one.   Bar Bites & Monster Burgers Chef Panduka of The Steuart’s &Co Pub and Restaurant explained that ‘bites’ are essentially a Sri Lankan requisite whereas Europeans don’t usually consume bites with their drinks. In order to cater to the local cravings, &Co Pub has introduced 3 kinds of bites including Beef stew, Battered Oyster Mushrooms, and Marinated Chicken Skewers flaunting a Mediterranean touch.   The new addition of Monster Burger to the Menu was all due to the immense popularity the dish earned when it was first introduced few months ago in a challenge. The Monster Burger Challenge required the contestant to finish this gigantic burger within one hour, and the price will be waived for the winner. Best of all the new menu continues the challenge and offers this massive succulent burger all for free to anyone who can race against the clock and savour the jumbo delight.   “With my experience for the last two years we are aware of the menus sought by our customers. Whenever we want to add a new dish, we first introduce it as a special and according to how popular it becomes we further fine tune it and add it to the menu. Our customers prefer the longstanding dishes lamprais, rice and curry and noodles. So while maintaining the classic dishes we try to bring in flavours inspired from different parts of the worlds. And I would like to invite you to come and enjoy these eclectic dishes and feel the difference,” Chef Panduka concluded.

Eco Team facilitates Running Wild with Bear Grylls

September 28, 2017, 12:44 am

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When it comes to adventure and survival in the wild, no one does it better than Bear Grylls. Amongst all of the adventure experiences that he has created for millions of fans around the world, is an episode of Running Wild that was actually filmed in Sri Lanka. Premier outdoor and eco-tourism solutions provider Eco Team was on hand to make sure the experience of Sri Lanka for the cast and crew was a truly extraordinary one. Eco Team was the official logistics provider for this episode of Running Wild featuring Mike Horn and Matt Pokora in the Samanala Wewa region. The area which is more than 10km away from human inhabitancy meant that the cast and crew had to trek with all their equipment. The film crew also camped in the great outdoors in close proximity to wild elephants and other animals. To ensure that the smooth operations of filming this episode, Eco Team put together a logistics crew of close to 75 members. Speaking on this significant feat Founder and Chief Experience Officer of Eco Team Anurudhdha Bandara said, “Efficiency is of high importance in such situations as time and resources are very limited. Food and drinks had to be provided for the crew from a distance of more than 6km away, merely on foot and this is no easy task but Eco Team was equipped with the labour, facilities and equipment needed to complete this challenge. In creating an adventure programme watched by millions around the world, Eco Team had an adventure of our own making sure that the team truly experienced Sri Lanka.” First broadcasted in the year 2014, featuring famous High School Musical movie star Zac Efron, ‘Running Wild with Bear Grylls’ is a survival skills reality television series. It stars world renown British adventurer, ex SAS and French Foreign Ligonier Bear Grylls who is also known for his television series ‘Man vs. Wild.’ Throughout the many episodes of the show, ‘Running Wild’ has featured celebrities such as former US president Barack Obama, Titanic movie star Kate Winslet and award winning actress Julia Roberts. During their expedition the episode’s host Mike Horn, the guest celebrity Matt Pokora and the crew consisting of over thirty members were all in Sri Lanka for the production of this episode. Mike Horn is also a world renowned adventurer who was dubbed the ‘world’s greatest living man’ by the Telegraph UK, having circumnavigated and trekked around the world from pole to pole and even along the equator – Latitude Zero with no motorised transport. He has also circled the Arctic solo using a kayak, ski and his own feet, expedited the Amazon on his own and scaled mountains over 8,000 metres. The guest celebrity of the episode, Matt Pokora is a famous French singer and songwriter who has also taken up a number of acting roles. Together, they stepped out into the virgin forest of Samanala Wewa Nature Reserve which is located in between Belihuloya and Kaltota regions, mid-way through the dry and wet zone. The area is located in an untouched, remote area where wild elephant sightings are many which increased the risk for the two stars as well as the large production crew. However all’s well that ended well. The episode was telecasted in February this year on M6 French TV. For more information please contact Eco Team on 0710 662270. Photo Copyrights Guillaume Mirand

Pelwatte Dairy expands distribution of 100% locally produced milk powder

September 28, 2017, 12:54 am

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Sri Lanka’s 100% local dairy product manufacturer, Pelwatte Dairy Industries recently expanded its distribution of milk powder to a wider customer segment in many parts of the country. These areas include Anuradhapura, Hambanthota and Mahiyanganya. Produced from 100% locally produced milk from farmers across the island, Pelwatte Milk Powder is known for its high quality and affordability. In an industry dominated by foreign brands and foreign importers, Pelwatte Dairy Industries is the first private sector firm to invest in a milk production plant and is in the forefront of promoting self-sufficiency in milk for Sri Lanka. Pelwatte Dairy products including the milk powder do not have any chemicals or preservatives added during the production process making it healthy and safe for any aged user. Being certified under the ISO 22000:2005 quality standards have further added to the reliability of the product and the trust placed by customers in Pelwatte Dairy products. Through the entirely local operation, Pelwatte Dairy supports 25,000-30,000 farmer families from whom the milk is collected while a further ………. Families are benefitted through the state-of-the-art factory in Buttala. Almost 150,000 -200,000 liters of milk is collected per day and then churned in to butter, yoghurt, ice-cream, liquid and powder milk. Through their endeavours Pelwatte also positively contributes to the national economy by providing much-needed jobs in the Moneragala district, which also saving valuable foreign exchange. The most affordable milk powder currently in the local market, Pelwatte Milk Powder is available at Keells, Arpico, Laugfs and Sathosa Supermarkets as well as in general trade. “We at Pelwatte aspire for the day when Sri Lanka is once again self-sufficient in milk and we are geared to do our utmost to reach that point. Only the highest quality dairy products are produced at our factory by experts in the industry. The best part is that both the product and the knowledge are locally produced”, said Pelwatte Dairy’s Managing Director, Akmal Wickramanayake. For more information on Pelwatte Dairy’s products and service please call 0115 990111.

Commercial Bank receives two awards from Asiamoney

September 28, 2017, 1:13 am

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The Commercial Bank of Ceylon recently received two prestigious international awards from Asiamoney, for the ‘Best Domestic Bank’ and the ‘Best Digital Bank’ in Sri Lanka. The awards were accepted on behalf of the Bank by its Deputy General Manager Corporate Banking Mr Sanath Manatunge at a gala ceremony at the Ritz-Carlton in Beijing. Asiamoney’s Best Domestic Bank award recognises Commercial Bank’s exceptional performance in FY 2016, while the Best Digital Bank award acknowledges the pioneering role the Bank has played in bringing technology-enabled products and services to customers. Pictured here is Mr Manatunge (Centre) with one of the two awards presented to the Bank in Beijing.