In its latest rating review, Fitch Ratings Lanka has affirmed the National Long-Term Rating of Amãna Bank at BB(lka) with a Stable outlook. The global rating agency has commended the Bank’s asset quality, which remained relatively better in comparison to its peers whilst also maintaining an above industry CASA (Current Accounts and Savings Accounts) ratio of over 50% as of June 2017.
Commenting on the Bank’s future outlook, the Fitch Ratings communiqué said “We expect the bank’s profitability metrics to improve in the medium term relative to better-rated peers as it capitalizes on existing infrastructure and enhances its franchise, leading to a lower cost to income ratio.”
According to Fitch, a rating upgrade for Amãna Bank is contingent upon the expansion of the Bank’s franchise and improved and sustained financial profile, in particular, achieving profitability levels that are similar to higher-rated peers. At the end of 1H 2017, the Bank achieved a Profit After Tax of Rs. 151.7 million, which reflected a growth of 170% from the results achieved in the corresponding period of 2016.
Sharing his views on the rating affirmation, the Bank’s Chief Executive Officer Mohamed Azmeer said “We are happy to have the Bank’s long term national rating affirmed immediately after meeting the Regulatory Capital requirement of Rs. 10 Bn which was met ahead of the deadline of 1 January 2018. This was achieved by way of a Rights Issue that was successfully completed with an oversubscription in July 2017. With the recent capital infusion the Bank’s is on a strong footing to expand our operations further in line with the 5 year strategic plan whilst increasing value to our shareholders which will reflect positively on the Bank’s rating in future.”
Amãna Bank is the country’s first Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based banking model. With the mission of Enabling Growth and Enriching Lives, the Bank reaches out to its customers through a growing network of 28 branches and 4000+ ATM access points and has introduced a bouquet of customer conveniences such as Internet & Mobile Banking, Online Account Opening, Debit Card with SMS alerts, 365 Day Banking, Saturday Banking, Extended Banking Hours, 24×7 Cash Deposit Machines and Banking Units Exclusively for Ladies.
The Bank was recognized as the Best ‘Up-and-Comer’ Islamic Bank of the World by ‘Global Finance Magazine’ at the 18th Annual World’s Best Banks Award Ceremony held in Washington DC, USA. The Bank was also bestowed the coveted title ‘Islamic Finance Entity of the Year 2016’ at the inaugural Islamic Finance Forum of South Asia Awards Ceremony.
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Fitch affirms Amãna Bank’s National Long Term Rating
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Etihad Aviation Group supports Vocational Excellence At Worldskills Abu Dhabi 2017
~ Etihad Airways and Destination Management Company Hala Abu Dhabi Fly Thousands of Delegates to Biggest Skills Learning Event in the World
Abu Dhabi, UNITED ARAB EMIRATES – Etihad Aviation Group is proud to provide air, ground and logistical support to WorldSkills Abu Dhabi 2017, with thousands of competitors converging on the UAE’s capital city this week for the biggest technical and vocational education and skills excellence event in the world.
Etihad Airways is the Official Airline, with Hala Abu Dhabi – the company’s destination management company – Official Customer Service Provider for the event, which takes place in Abu Dhabi between 15 – 18 October.
The 44th edition of the global competition – being held in the Middle East for the first time – is bringing together over 3,500 competitors and industry experts from over 75 countries aimed at fostering a spirit of knowledge sharing for vocational careers.
WorldSkills Abu Dhabi 2017 will help boost relations and the exchange of knowledge between GCC countries, nearby Asian nations and countries across the Middle East and North Africa (MENA) region. Being held at the Abu Dhabi National Exhibition Centre, the event also brings together key education and government stakeholders.
Different parts of Etihad Aviation Group have joined forces to help deliver a successful event: from facilitating flights and freight, airport meet and greet, accommodation, visa services, hotel transfers and organising excursions for over 3,000 participants across Abu Dhabi – including the biggest trip to the new Etihad Desert Camp – to promoting vocational excellence through a dedicated exhibition stand highlighting various technical skills that are required to work across the business.
Hala Abu Dhabi and Etihad Airways’ Learning and Development department are spearheading the group’s participation, which also includes representation on a panel discussion on shaping the education system for the future.
Gavin Halliday, Managing Director of Hala Group, said: “WorldSkills Abu Dhabi is one of the biggest events on the calendar in our capital city this year, and we are extremely proud to leverage our expertise in organising an event of such magnitude that requires high levels of support at all touch points for travelling delegates from around the world. We are also extremely pleased to have given delegates an exclusive preview and experience of the new Etihad Desert Camp which is managed and operated by Hala Abu Dhabi and due to officially open very soon.”
Wissam Hachem, Etihad Aviation Group Vice President Learning and Development, said: “We are delighted to partner with WorldSkills Abu Dhabi, dedicating resources from across the business to support this exciting event that promises to promote and harness vocational skills among young people to help shape their future careers.
“As a people business, Etihad Aviation Group has a commitment to nurture and develop skills in the workplace to drive a motivated workforce. WorldSkills Abu Dhabi is a perfect opportunity for competitors from around the world not only to demonstrate their vocational skills, but to also promote a spirit of learning and reinforcing the need for education providers, industries and students to work together, integrate development efforts and align future activities which is vital in the workplace.”
Etihad Airways’ interactive exhibition stand at WorldSkills Abu Dhabi features a flight simulator giving delegates an opportunity to test their flying skills. And videos are being shown promoting different technical vocational roles within the airline, including mechanical engineering design, aircraft maintenance, graphic design technology, and IT network system administration.
A number of Etihad Airways aircraft feature the WorldSkills logo, and Etihad Airways’ retail shops in Abu Dhabi will have videos promoting the four-day event.
Delegates flying on Etihad Airways are automatically entered into a prize draw with the opportunity to win 50,000 miles in the airline’s loyalty programme, Etihad Guest.
Photo caption: Etihad Aviation Group employees are proudly pictured on Etihad Airways’ stand during WorldSkills Abu Dhabi 2017 at the Abu Dhabi National Exhibition Centre
About Etihad Aviation Group: Etihad Aviation Group (EAG) is a diversified global aviation and travel group comprising five business divisions – Etihad Airways, the national airline of the United Arab Emirates, Etihad Airways Engineering, Etihad Airport Services, Hala Group and Airline Equity Partners. The group has minority investments in six airlines: airberlin, Air Serbia, Air Seychelles, Alitalia, Jet Airways and Virgin Australia.
From its Abu Dhabi base, Etihad Airways flies to, or has announced plans to serve, more than 110 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and the Americas. The airline has a fleet of over 120 Airbus and Boeing aircraft. In 2013, it placed firm orders for 204 aircraft, which included 71 Boeing 787s, 25 Boeing 777Xs, 62 Airbus A350s and 10 Airbus A380s. For more information, please visit: etihad.com
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Amãna Bank’s Main Branch offers 365 Day Banking with Extended Banking until 7pm on Weekdays
With the objective of enriching the convenience of banking to its customers, Amana Bank’s Main Branch located in Colombo 3 has expanded its banking services to 365 Days, with business hours on weekdays scheduled from 9.00am to 7.00pm and on weekends and holidays from 9.00am to 1.00pm. Further, rest of the Bank’s branches will be open for business till 4.00pm on weekdays with the Bank’s Pettah Branch being open until 6.00pm. Additionally Branches in Pettah, Dehiwela, Kandy, Galle, Kattankudy and Kalmunai Unity Square offer Saturday Banking services from 9.00am to 1.00pm.
As a result of Extended Banking hours, the Bank’s same-day cheque clearing services have also been extended up to 4.00pm at all branches.
Speaking on this initiative the Bank’s Vice President Retail Banking and Marketing Siddeeque Akbar said “It was evident that our clients benefited from Extended Banking till 4.00pm as well as from Saturday Banking services, and to add to their convenience we are happy to introduce 365 Day Banking at our Main Branch.”
Amãna Bank is the country’s first Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based banking model. With the mission of Enabling Growth and Enriching Lives, the Bank reaches out to its customers through a growing network of 28 branches and 4000+ ATM access points and has introduced an array of customer conveniences such as Internet & Mobile Banking, Debit Card with SMS alerts, Online Account Opening, 365 Day Banking, Saturday Banking, Extended Banking Hours, 24×7 Cash Deposit Machines and Banking Units Exclusively for Ladies.
Fitch Ratings, in October 2017, affirmed the Bank’s National Long Term Rating of BB(lka) with a Stable Outlook. The Bank was recognized as the Best ‘Up-and-Comer’ Islamic Bank of the World by ‘Global Finance Magazine’ at the 18th Annual World’s Best Banks Award Ceremony held in Washington DC, USA. The Bank was also bestowed the coveted title ‘Islamic Finance Entity of the Year’ at the inaugural Islamic Finance Forum of South Asia Awards Ceremony.
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Sri Lankan shares hit near one-week closing low on profit-taking
Reuters – Sri Lankan shares ended down for a second straight session on Tuesday, slipping further from their highest close in more than 10 weeks hit last week, with investors booking profits in telecom stocks while block deals boosted the turnover, brokers said.
The Colombo stock index ended 0.36 percent weaker at 6,572.05, its lowest close since Oct. 11. Last week, the bourse rose 1.6 percent, posting its fifth straight weekly gain.
“Today, we observed that profit-taking was still on,” said Atchuthan Srirangan, senior research analyst, First Capital Holdings PLC.
“The turnover is boosted by some big deals. We saw a foreign selling of over 1 billion rupees in East West Properties which might trigger more foreign selling in future.”
Shares of Dialog Axiata Plc ended 3.1 percent weaker, Sri Lanka Telecom Plc finished 5.4 percent down, while Lion Brewery Plc closed down 4.7 percent.
Shares of East West Properties Plc, which accounted for 58 percent of Tuesday’s turnover and saw 88 million shares of foreign selling, ended 4 percent up.
Turnover was 1.9 billion rupees ($12.38 million), more than double of this year’s daily average of 939 million rupees.
Foreign investors were net sellers of shares worth 1.1 billion rupees on Tuesday. They have, however, net bought 19.1 billion rupees worth of shares so far this year.
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Embark opens standalone store in K-Zone, Ja-Ela
The pooch-inspired fashion brand opened its 10th store at K-Zone, Ja-Ela on the 29th of September.
Embark portrays the rising trend of brands which are backed by a purpose of goodwill. The brand is well known for its association to a positive social cause by focusing on selling a range of clothing that communicates a message of improving the lives and supporting the street dogs of Sri Lanka.
“Embark is a brand that targets the new and growing socially-conscious consumer. I believe that shopping of the future should and will have a direct link to support social causes in order for us to prosper as a society, in a country where all lives are equally valued,” said Otara Gunewardene, entrepreneur and founder of Embark.
Embark Stores offer an all-inclusive shopping experience for your family, including your pooch friend, with an array of fun and fabulous graphic tees, flip-flops, bags, and colorful fashion and doggie accessories. All profits are channeled towards rescues, treatment, vaccination and sterilization programs and adoption days that are conducted three times a month.
The opening at Ja-Ela is just another step towards Embark’s mission of reaching the far corners of our island with its philosophy of leading a compassionate lifestyle.
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hSenid Mobile Solutions successfully concludes TADHack Sri Lanka 2017
hSenid Mobile Solutions successfully concluded TADHack Sri Lanka 2017, the biggest Telco Application Development Hackathon in the world. TADHack Sri Lanka, held for the fourth consecutive year, took place simultaneously in 25 locations around the world, bringing together innovators and entrepreneurs from around the world.
Sri Lanka being the largest telco application developer community had a staggering number of over 650+ registrants for this year’s TADHack from which 14 teams were chosen to compete for local prizes as well as with an aim in achieving the TADHack global prize pot of $ 45,000.
The event was held at the Dialog Axiata Auditorium in Colombo and was kicked off after a brief keynote address by Dinesh Saparamadu, CEO of hSenid Mobile Solutions.
Team Wolves who came up with project Trigger, a mobile based service which can be used to automate daily tasks and broadcast the information to necessary parties of interest, won first place while Project Hello Mom by Code Flakes who came up with a SMS platform that will educate pregnant women on the progress of their gestation periods, were selected as first runners up.
The Wanderers team showcased Project GYDme, a low cost, hassle free and on-demand replacement for regular tour guides to help travelers became second runners up.
Overall, TADHack 2017 was a great success with young developers showcasing some brilliant and innovative ideas using with the latest technologies using hSenid Mobile APIs, the leader in service innovation.
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The Winners – Team Wolves
1st Runners up – Code Flakes
2nd Runners up The Wanderers
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US investor community hears a strong case for Sri Lanka in New York
- Macroeconomic stabilization of the economy broadly on track
- Better, more facilitative capital market regulation across the board
- CSE ready to play its part in the national growth agenda
- Foreign speakers offer a compelling endorsement of Sri Lanka
Better, more facilitative capital market regulation across the board
Discussing the salient features of the new SEC Act, SEC Commission member Ms. Dilshani Wijayawardana stated that the new securities law is set to usher in an era of stability, transparency and efficacy to the capital market, adding that “The new securities law will be a pillar of strength in making the capital market of Sri Lanka attractive to both international and local investors.”
Director General of the SEC Mr. Vajira Wijegunerwardane speaking on the reformist agenda of the capital market expressed the SEC’s continued commitment to better, more facilitative regulation across the board. “The SEC Strategy 2020, which consists of a set of regulatory and developmental initiatives, maps an integrative growth plan for the capital market to create a robust regulatory framework which in turn facilitates sustainable development” he added.
Strong endorsement for Sri Lanka’s economic direction and capital market
Outlining that May 2009 was a turning point for the country and for foreign investors, Senior Portfolio Manager at TimesSquare Capital Management and investor in Sri Lankan equities for over ten years Mr. Caglar Somek stated that the country is now on a sustainable growth path after going through a significant transition, adding that present growth and future estimates could further improve if the government continues its reform process beyond the IMF programme and attracts additional foreign direct investors. “The investment case for Sri Lanka is getting stronger with the support of the IMF. Sri Lanka has domestic avenues for growth, according to third party estimates such as the Economic Intelligence Unit, over 70% of long term sustainable growth will likely come from the consumption and investment side of the economy, which is encouraging.” he noted.
Commenting on the key attractions of Sri Lanka as a frontier market, he noted that Sri Lanka offers a more diversified economy, compared to other oil and commodity heavy frontier markets. A fully functioning democracy, an improving balance of payments situation, independent institutions, the rule of law, promising social aspects, the absence of capital controls and Sri Lanka’s strategic location and external growth opportunities surrounding it were identified as key factors that could pursue foreign investors to consider Sri Lanka going forward.
Adding to the positive sentiments expressed, NASDAQ Vice Chairman Mr. Meyer “Sandy” Frucher said “We believe in the Sri Lanka story, which is why we are represented here at this forum. I have viewed and watched Sri Lanka for a long time and I think that the record and story is getting out there.”
The Invest SL event in New York was hosted on the back of a considerable level of foreign activity in the stock market in 2017 where foreign purchases during the first half of 2017 established a record for the highest foreign purchases recorded in the first half of a calendar year. Investors from the US have consistently been the leading contributors to foreign turnover in the Sri Lankan stock market, and have contributed to 40% of the total foreign turnover since the year 2013.
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CAB Interbank TWENTY20 Soft Ball Cricket Tournament 2017
The Clearing Association of Bankers (CAB) was formed in 2008 with the objective of enhancing the knowledge of bankers as well as to promote goodwill, understanding and fellowship among bankers engaged in clearing.
The Association was able to fulfill the above objective with many activities carried out island wide, with a large participation.
The Interbank Cricket Tournament is one of the famous events that were held recently at Moors Ground, Colombo 02.
Photo caption: (Above) Organizing Committee of Clearing Association of Bankers
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Guest of honor Mr. Aali Shafi, the Country General Manager of MCB Bank Ltd hoisting the national flag with Mr. Razak Deen, the General Secretary, Mr. Asanka Theodore, the Social Secretary of CAB hoisting the flag of the Clearing Association of Bankers
Champions – HNB Bank team with Mr. Dhamith Apponso, the Head of Service Fulfillment of MCS Computer Systems (Pvt) Ltd (Main Sponsor), Mr. Razak Deen, the General Secretary of CAB is also present
Runners-Up – Nations Trust Bank team captain receives trophy from Mr. Thusith de Silva and Mr. Dharshana Nissanka – The General Manager and Manager /Hardware of MCS Computer Systems (Pvt) Ltd, respectively (Main Sponsor). Mr. Razak Deen, the General Secretary of CAB is also present.
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PLC Group Head of HR Uresh Jayasekara conferred with Asia’s HR Leadership award
Sri Lanka’s non-bank finance sector market leader People’s Leasing & Finance PLC’s Human Resources Group Head Uresh Jayasekara was conferred with ‘HR Leadership Award’ at the eighth edition of ‘The Asia’s Best Employer Brand 2017 Awards’ ceremony held at Le Meridian Sentosa hotel in Singapore.
HR Leadership Award being the most prestigious admiration in the Asian HR sphere is awarded by the World HRD Congress annually to HR professionals in Asia who have performed exceptionally well.
People’s Leasing & Finance PLC in this occasion received ‘The Asia’s Best Employer Brand Award’ for the second time adding significance to the recognition. Which conferred on PLC for its best strategic HR implementation and HR professionalism in accomplishing organizational business objectives whilst maintaining a professional working environment. This is his second international achievement for his professionalism.
In 2017 he was conferred with another high-status Global HR award. Jayasekara was named as one of ‘The 100 most influential global HR professionals’ by the World HRD Congress at the Global HR awards ceremony and Silver Jubilee held in Mumbai, India in the year.
Uresh Jayasekara has contributed hugely to the local HR sphere over 18 years. He has provided his professional services to the Apparel, Hospitality, Insurance and Banking and Finance sectors and gained immense experience and exposure in the process.
He is an academically and professionally qualified individual. Continuous learning has been his motto in life.
Being an Alumni of Kelaniya University he has obtained an Honors Degree in Biology from the University. He has obtained a Management Diploma from the Open University of Sri Lanka. Subsequently he became a Post Graduate Diploma holder for Business Development of Colombo University and obtained his MBA from the same university by specializing in human resources management.
Jayasekara joined PLC in 2007 and spearheaded the PLC group’s HR initiatives to drive the company from strength to strength. He lead PLC to win the SLITAD People’s Development Gold and Silver awards in 2014 and 2015.
Also with his leadership PLC was able to secure National HR Excellence – 2016 Silver award and Asia Best Employer Brand Award – 2016 at the annual award ceremony held in Singapore.
In the same year, Sri Lankan Best Employer Brand Award was bestowed with PLC showcasing Uresh Jayasekara’s Human Resources Management prowess.
Photo caption – People’s Leasing and Finance PLC Human Resources Group Head Uresh Jayasekera being awarded with the ‘HR Leadership Award’ at ‘The Asia’s Best Employer Brand Awards – 2017’
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Participation of Sri Lankan SME’s at Trade Fairs in Southern China
The Consulate General of Sri Lanka in Guangzhou facilitated the participation of Sri Lankan SME’s in Trade Fairs in three different cities in Southern China, namely, Nanning (Guangxi province), Dongguan and Guangzhou to create awareness and boost trade for the wide range of products that are manufactured in Sri Lanka.
While the Trade Fairs in Nanning and Guangzhou held in September and October were done with the active participation of the Sri Lanka Export Development Board, the Trade Fair in Dongguan was with the collaboration of the Federation of Chambers of Commerce of Sri Lanka (FCCISL).
Some of the Trade Fairs had over 40 Sri Lankan companies participating, creating greater awareness of Sri Lankan products and contributing towards brand recognition.
A Trade Forum under the theme of “Opportunities for Trade with Sri Lanka” was held on 12th September by the Consulate General and the Export Development Board alongside the 14th China- ASEAN Expo (CAEXPO) in Nanning providing essential information to both Chinese and foreign entrepreneurs from ASEAN countries on the excellent quality of Sri Lankan products that are exported worldwide. This is the second time that Sri Lanka has taken part in the China- ASEAN Trade Fair in Nanning.
Following the Trade Fair in Nanning, the Consulate General organized Buyer-Seller meets for the Sri Lankan exhibitors at the CISMEF Trade Fair in Guangzhou held from 10th to 13th October. The Sri Lanka Pavilion which housed 35 companies from various sectors attracted a constant stream of visitors.
The CISMEF Trade Fair is an annual event held every autumn in Guangzhou exclusively for Small and Medium enterprises (SMEs). This year’s Fair had the participation of over 3000 SMEs from China with 31 countries taking part in it.
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Moody’s: External pressures constrain Sri Lanka’s credit profile
Moody’s Investors Service says that Sri Lanka’s (B1 negative) significant borrowing requirements and heavy reliance on external and foreign-currency funding expose the sovereign to material liquidity and external financing risk, which weighs on the sovereign’s credit profile.
Despite a recent increase in foreign exchange reserves, reserve coverage of external obligations remains low. Unless reserves rise still further, reserve coverage will weaken and external vulnerability will increase from 2019 when large international debt repayments are due.
How the authorities prepare for and manage these risks will be critical to stabilizing the external financing position. Reforms that continue to advance fiscal consolidation and exchange rate flexibility, along with implementation of an effective external liability management strategy, would mitigate external risks and help support Sri Lanka’s credit profile.
Moody’s conclusions are contained in its just-released report on the Government of Sri Lanka, “External pressures constrain credit profile”.
Moody’s assesses Sri Lanka’s external vulnerability as “Moderate”, reflecting its view that sudden shifts in external conditions could weaken the sovereign’s credit profile.
This external vulnerability stems from the structure of the country’s government debt, with large shares of external financing and foreign currency debt combining to heighten the government’s susceptibility to changes in financing conditions.
As of 2016, total external debt (local and foreign currency external debt of combined public and private sectors) was about $47 billion (about 57% of GDP), of which approximately 68% was public sector debt. Meanwhile, the government’s foreign currency-denominated debt was about 43% of total general government debt in 2016 and about 34% of GDP.
Moody’s notes that Sri Lanka’s foreign currency reserves fell to a low of $4.1 billion in April 2017 from a peak of just over $8.1 billion in August 2014, but by August 2017, reserves had been rebuilt to $6.7 billion.
Despite this improvement, reserves adequacy remains relatively weak and Sri Lanka has several large external debt repayments due between 2019 and 2022. The bunching of these future external liabilities, which will average $3.6 billion per year, raises rollover and external vulnerability risks.
Meanwhile, the debt-financing of Sri Lanka’s persistent current account deficits adds to future external financing needs.
Sri Lanka’s current account deficits, at 2.4% of GDP in 2016, are driven by large structural trade deficits and add to external financing requirements. Annual net foreign direct investment (FDI), which was 1.2% of GDP in 2016, does not fully fund the deficit. Hence the current account deficit will continue to be partly financed through debt inflows, leading to further accumulation of debt liabilities.
At the same time, reforms could help to reduce Sri Lanka’s external vulnerability, but their impact is not fully clear yet.
Moving forward, sustained fiscal consolidation and a more flexible exchange rate will have a credit positive impact by reducing external borrowing requirements and preserving foreign exchange reserves.
However, the design and implementation of an effective and transparent external liability management strategy remains incomplete. How these multipronged reform areas combine and shape external vulnerability will help determine Sri Lanka’s credit profile.
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Sri Lanka has clear plan to deal with debt crisis – central bank chief
Reuters – Sri Lanka has a “clear plan” to manage its debt, with proceeds of any divestment and privatization to be used to repay loans the island nation has borrowed, central bank chief Indrajit Coomaraswamy told Reuters this week.
Sri Lanka is facing a debt crisis with the repayment cycle of expensive infrastructure foreign loans starting next year.
The $81 billion economy has to repay over $5 billion in the next 12 months while the country has just over $7 billion in foreign exchange reserves, official central bank data showed.
“We don’t see it as a (sovereign default) risk,” Coomaraswamy told Reuters in an interview in New York on the sidelines of an investor forum on Monday. He said the government has “committed itself” to using divestment proceeds “for liability management.”
“We are an outlier on our debt metrics, but we’ve never missed a single debt repayment commitment, and we certainly don’t intend to do that,” he said. “We feel we have a clear plan to manage the situation.”
Moody’s Investors Service on Tuesday said Sri Lanka’s significant borrowing requirements and heavy reliance on external and foreign-currency funding expose the sovereign to material liquidity and external financing risk, which weighs on Sri Lanka’s credit profile.
The total external debt was about $47 billion, or 57 percent of gross domestic product as of 2016, of which approximately 68 percent was public sector debt, Moody’s said.
External debt rose to 79.3 percent of GDP last year from 71.3 percent in 2014. However, the government has planned to cut it to 70 percent by 2020.
The government has blamed “colossal borrowing” by the previous government for the spike in debt servicing.
“Fortunately, next year we don’t have an international sovereign bond maturity, but from 2019 onwards we have consecutive years of maturity,” Coomaraswamy said. He said the government will use next year to raise money and refinance debt.
Sri Lanka has already planned to reschedule some loans to ease its heavy debt repayment burden over the next two years through a new Liability Management bill.
“Once that comes in we’ll have the flexibility to raise some extra money for liability management,” Coomaraswamy said.
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Louvre Abu Dhabi signs landmark partnership with Etihad Airways
Abu Dhabi, United Arab Emirates – Louvre Abu Dhabi today signed the first exclusive platinum partnership with Etihad Airways. The symbolic ceremony took place under the museum’s spectacular dome and its ‘Rain of Light’ effect.
Louvre Abu Dhabi will officially open on 11 November as an iconic landmark on the city’s geographical, cultural and tourist landscape. The architectural masterpiece is one of only a few truly universal museums in the world, awe-inspiring in both its scale and design.
His Excellency Saif Saeed Ghobash, Director General of the Department of Culture & Tourism – Abu Dhabi, said: “This important partnership comes at an exciting time as we prepare for our grand opening next month. Louvre Abu Dhabi and Etihad Airways not only bring people from around the world to Abu Dhabi, but they are both universal in nature. For the museum, this idea of universal is about understanding human connections from the beginning of time until the present through art. We look forward to celebrating Louvre Abu Dhabi’s opening with the support of our Platinum partner.”
As a Platinum partner, Etihad will work closely with Louvre Abu Dhabi on areas of brand partnership, marketing, social media, public and media relations, events and exhibitions, cultural exchanges, cargo support, inflight programming, and travel trade support. Etihad Airways’ destination management company, Hala, will collaborate with the museum on bespoke tour packages in Abu Dhabi.
Peter Baumgartner, Etihad Airways Chief Executive Officer, said: “Louvre Abu Dhabi is a universal institution showcasing the achievements of mankind in art, in culture, in humanity – a beacon welcoming visitors to these shores for generations to come.
“Etihad Airways and Louvre Abu Dhabi are two leading characters in the same story and we share a deep bond. As the national airline of the UAE, flying from Abu Dhabi to the world, we are also a universal connector of people. Together with our partners at Louvre Abu Dhabi and the Department of Culture & Tourism – Abu Dhabi, we are committed to bringing guests from across our global network to our home, and to co-creating experiences which will showcase this magnificent museum.”
Photo caption: (From left) Peter Baumgartner, Etihad Airways Chief Executive Officer, and HE Saif Saeed Ghobash, Director General of the Department of Culture & Tourism – Abu Dhabi, flanked by members of Etihad Airways’ Cabin Crew, sign the landmark partnership agreement under the Louvre Abu Dhabi’s spectacular dome
About Louvre Abu Dhabi: Louvre Abu Dhabi is a universal museum on Saadiyat Island that exhibits art and artefacts from ancient times to the present day, its mission is to celebrate cultural exchange and diversity. Designed by French architect Jean Nouvel, the museum represents an Arab madina (city) with its 23 permanent galleries, exhibition galleries, Children’s Museum, auditorium, restaurants, retail and a research centre. Surrounded by the sea, visitors can walk the promenades beneath the museum’s stunning dome. They can experience Nouvel’s enchanting ‘rain of light’, inspired by the shadows of overlapping palm trees in the UAE’s precious oases where travellers once crossed paths.
Artworks on display originate from civilisations all over the world. They have been brought together to highlight universal themes and similar influences. This marks a departure from many traditional Western museums which separate objects from different civilisations. Themes at Louvre Abu Dhabi include: the portrayal of power; the representation of the divine; exploring unknown lands; and the dawn of globalisation. Louvre Abu Dhabi has acquired more than 600 artworks to date including individual works, series and collections. Many of these will be exhibited alongside 300 works on loan from 13 leading French institutions.
Louvre Abu Dhabi was born of an intergovernmental agreement between the governments of Abu Dhabi and France in 2007. The agreement includes the loan of the name of Louvre is on loan for a period of 30 years and 6 months; art works from French institutions for 10 years on a decreasing basis as the permanent collection grows; and the programming of temporary exhibitions for 15 years.
About Etihad Aviation Group: Etihad Aviation Group (EAG) is a diversified global aviation and travel group comprising five business divisions – Etihad Airways, the national airline of the United Arab Emirates, Etihad Airways Engineering, Etihad Airport Services, Hala Group and Airline Equity Partners.
From its Abu Dhabi base, Etihad Airways flies to, or has announced plans to serve, more than 110 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and the Americas. The airline has a fleet of over 120 Airbus and Boeing aircraft. In 2013, it placed firm orders for 204 aircraft, which included 71 Boeing 787s, 25 Boeing 777Xs, 62 Airbus A350s and 10 Airbus A380s. For more information, please visit: etihad.com
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BPO Connect, Lanka IOC, Vallibel One and Lanka Hospitals onboard to steer CA Sri Lanka’s 38th National Conference
The 38th National Conference organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a fresh boost recently after several top organisations representing diverse sectors came on board to steer the country’s largest business summit with a series of sponsorships.
BPO Connect, Lanka IOC and Vallibel One extended support to the annual conference with a bronze sponsorship, while Lanka Hospitals has come onboard as the healthcare partner for the three day conference from October 25 to 27, 2017 at the BMICH.
This year the conference will revolve around the theme ‘Dynamism: Agility in Leadership’ and has attracted over 1670 delegates including top corporate leaders, c-suit executives who are chartered accountants by profession.
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BPO Connect’s Vice President Operations Mr. Nishantha Kuruppu, Head of Group Finance Mr. Shamil Shiraz, Assistant Manager Finance Ms. Nilukshi Wijetunga and Manager Finance & Accounting Mr. Isuru Baduge handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
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Lanka IOC’s Managing Director Mr. Shyam Bohra and Sr. Vice President (Finance) Mr. Anuj Jain handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
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Vallibel One’s Chief Executive Officer Ms. Yogadinusha Bhaskaran and Manager – Finance Mr. Sadeep Perera handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
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Lanka Hospitals Group Financial Officer Mr. Badrajith Siriwardena and Chief Marketing Officer Mr. Nimal Ratnayake handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
BPO Connect’s Vice President Operations Mr. Nishantha Kuruppu, Head of Group Finance Mr. Shamil Shiraz, Assistant Manager Finance Ms. Nilukshi Wijetunga and Manager Finance & Accounting Mr. Isuru Baduge handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
Lanka IOC’s Managing Director Mr. Shyam Bohra and Sr. Vice President (Finance) Mr. Anuj Jain handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
Vallibel One’s Chief Executive Officer Ms. Yogadinusha Bhaskaran and Manager – Finance Mr. Sadeep Perera handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
Lanka Hospitals Group Financial Officer Mr. Badrajith Siriwardena and Chief Marketing Officer Mr. Nimal Ratnayake handing over the sponsorship cheque to CA Sri Lanka’s President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera, Chairman of the National Conference Committee Mr. Tishan Subasinghe and Chief Executive Officer Mr. Aruna Alwis.
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Mobitel Launches South Asia’s first NB-IoT Network at Techno 2017 in Sri Lanka
Mobitel, Sri Lanka’s National Mobile Service Provider showcased the nascent NB-IoT technology (Narrow Band Internet of Things) for the first time in South Asia at the recently concluded Techno 2017 exhibition in Sri Lanka which took place from the 13th-15th of October 2017.
Mobitel’s vibrant demonstration at Techno 2017 inspired all attendees of the exhibition to experience for themselves the NB-IoT technology as their technology of choice for Low Power Wide Area connectivity needs. Mobitel showcased NB-IoT as a powerful technology in urban farming and home safety systems. Mobitel’s innovative deployment of NB-IoT interleaved on its 900MHz spectrum ensured an increase in 7 times the typical mobile coverage, enabling its use for sensors deep within concrete structures or underground such as required for smart meters or disaster monitoring sensors.
Mobitel Chairman, P. G. Kumarasinghe Sirisena was proud that Mobitel had delivered real-life solutions to the often overlooked rural community of Sri Lanka. He cited Mobitel’s NB-IoT technology as a vital component in increasing the productivity of Sri Lanka’s overall output through simple low-cost automation solutions provided by the Mobitel Network.
Mobitel Chief Executive Officer, Nalin Perera highlighted Mobitel’s emphasis on living up to its ‘We Care. Always.’ motto. He went on to say that the NB-IoT network roll-out reinforced the company’s vision to expand its IoT business on top of the already successful home automation solutions delivered through the X Station store. He concluded with a strong message to all the people of Sri Lanka saying ‘Mobitel NB-IoT is for everyone and is not a luxury product. As a company we are socially aware of our responsibilities and we continue to make investments that will bridge the digital divide between the urban and rural communities’.
Rasantha Hettithanthrige, Mobitel’s Senior General Manager – Engineering & Operations, noted the high enthusiasm & the knowledge of attendees at the exhibition judging by the interactive discussions between Mobitel’s Engineering team and the attendees of the exhibition. “I must credit our team on the delivery and public demonstration of Sri Lanka’s first NB-IoT network. The attendees of this exhibition were technically savvy, and quickly understood the technical challenges in delivering a NB-IoT Network, which in fact it is quite different to our existing LTE network. Mobitel has given all Sri Lankans a chance to physically witness and see for themselves the power of the Mobitel Network, rather than just reading about it.”
The long queues gathering around the Mobitel stall at Techno 2017 certainly bore testament to Mobitel’s credibility as a pioneer in technology for the masses.
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Mobitel’s high tech stall at Techno 2017.
Mobitel’s high tech stall at Techno 2017.
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Galle Face Hotel Hosts Christmas Cake Mixing Event
The Galle Face Hotel recently celebrated the start of the Christmas season by hosting their first cake-mixing event after the restoration project, which was attended by loyal guests, social dignitaries and team members of the hotel.
The cake mixing event kicked off at sunset, with all the guests being given chefs hats, gloves and aprons in order to lend a hand with the mixing. Chef Adam Gaunt-Evans, the hotel’s Executive Chef and team took the opportunity to showcase their talent by preparing the best of Christmas cake in town, and entertained their guests to this seasonal spectacle with flair. Festive music played in the background and a merry time was had by all.
All the ingredients together weighed a total of 50kg, which were then finely chopped by all to create the large cake.
Mr. Deni Ohlsen-Dukic, General Manager, of the Galle Face Hotel said, “We are delighted to host our distinguished guests at our cake-mixing event. Being a hotel that is a second home to our guests and the local community, we look forward to the holiday season. We are a multicultural country; this is our opportunity as a hospitality provider to give everyone a unique experience of merriment.”
Once the mixing was complete, the chef and his team poured the cake into a special mould and placed it in storage for the fermentation process to begin. The cake will be completed on the 4th of December and will be served as a scrumptious dessert for guests of the hotel throughout the holiday season.
The hotel will have the festive buffet on display at The Verandah and a very special menu at The 1864 during the month of December. The 24th of December will have a twist of Christmas with a delectable dinner menu served at The 1864, followed by a Christmas lunch buffet served on the 25th of December at the Verandah.
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Janashakthi creates history at Effie Awards with first Gold in Insurance category
Janashakthi Insurance PLC created history at the recently held Effie Awards 2016, winning the coveted Gold Award in the Insurance category. This was the first Gold won in the insurance industry and was in recognition of Janashakthi’s Life Insurance campaign ‘Guiding Light for Life’. The award was one of only four Golds given out during this year’s ceremony and one of eight which have been awarded since the Effies were established in Sri Lanka. The campaign was conceptualised and brought to life by Janashakthi’s agency partners BBDO Lanka and MEC Sri Lanka.
Commenting on this achievement, Managing Director of Janashakthi Insurance PLC, Prakash Schaffter said, “It is an honour to be recognised at the Effie Awards, for a campaign that truly speaks to the essence of Janashakthi. The award is a testament to the creativity and passion of the entire Marketing team and our agency partners BBDO Lanka and MEC Sri Lanka, who have collectively created a campaign that touched the hearts and minds of people across the island, strengthening Janashakthi’s position as a leader in the industry.”
The Effie awards are particularly coveted as they go through two rounds of rigorous judging before reaching the ‘Winners’ Circle’. The Effie juries are comprised of senior industry leaders, who evaluate the entries on all aspects of each campaign’s effectiveness.
“The Effies are considered one of the most recognised global symbols for effective marketing communication and best brand development efforts across the industry. This Gold award is further validation of our commitment to effectively engaging our audience, and of the tireless effort that is put in by our team and agency partners, towards strengthening our brand. We are proud to be the first to bring a Gold Effie to the insurance industry,” said Manindri Bandaranayake, Head of Marketing at Janashakthi Insurance PLC.
Janashakthi also recently received several other accolades for its industry-leading work in Marketing, including the 2016 Fintelekt Insurance Award for ‘Marketing Initiative’ for the same campaign. The ‘Janashakthi Full Option Appathon Challenge’ campaign won the 2017 Fintelekt Insurance Award for ‘Corporate Social Responsibility Initiative”, while being recognised as the ‘Best Brand Marketing Campaign’ at the Golden Globe Tigers 2017 Awards for Excellence and Leadership in Branding and Marketing.
A global symbol of achievement with award programs honouring effective marketing communications in 42 countries and 6 regions, the Effie Awards have been held in Sri Lanka in partnership with the Sri Lanka Institute of Marketing (SLIM) since 2008.
Janashakthi Insurance PLC, founded in 1994, made its mark in the industry as an innovator and household name over a span of two decades. As an organisation that strives to deliver excellence in Customer Service by addressing the insurance needs of its customer base, Janashakthi has an island wide branch network of 113 branches, a 24-hour call centre and around the clock assessor service. Today, the Company stands strong as a leader in Motor, Non-Motor and Life Insurance services and continues resolutely on its vision of lighting the lamp of insurance in every home and work place.
Photo Caption – The victorious Janashakthi Marketing team with agency partners BBDO Lanka and MEC Sri Lanka.
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Seylan Tikiri: The account that values every child
Seylan Bank’s Seylan Tikiri Chief Manager Liability products and New age Media Dinesh Jebamani and Head of Marketing & Sales Gamika De Silva speak of the Seylan Tikiri account and its benefit to children.
Launched in 1991, Seylan Tikiri is the pioneer in minor savings accounts and is evolving rapidly with innovative services to cater to the diverse needs of its vast customer base. Since its inception, Seylan Tikiri has empowered thousands of children across the island, by inculcating the savings habits along with other teachings in self-development and social skills, to enable today’s children to be tomorrow’s leaders. The Bank has aligned its resources to assist children in urban and under privileged areas, to offer the right knowledge and banking support to better position their future.Excerpts of the interview
Commenting on the vision of Seylan Tikiri, Dinesh Jebamani, Chief Manager Liability products and New age Media at Seylan Bank said “Seylan Tikiri was one of the first major innovations by the Bank that revolutionised the minor savings account category and continues to set new trends in the banking sector. Seylan Tikiri, being one of the biggest products, aims to empower children with proper savings knowledge along with other ethics in academic skills and self-development to produce future entrepreneurs. Seylan Tikiri was also the first minor savings product to offer value added benefits and has fast become popular among kids and parents” Commenting further, Dinesh added “The growth of Seylan Tikiri especially contributes to the values of customer satisfaction. We at Seylan continuously focused on understanding the rapidly changing needs of customers, thus adjust our value proposition to best position Tikiri products and services to offer customers the optimum benefits coupled with other values which attributes higher customer satisfaction and remain relaxed” Elaborating on the evolution of Seylan Tikiri, Gamika De Silva, Head of Marketing & Sales at Seylan PLC, noted “Seylan Tikiri has evolved significantly in terms of products and services. Understanding the rapidly changing need of children every year, we have upgraded our gift scheme from traditional gift items to a trendier toy list which is popular among kids. Some of the gifts comprise of video game pads, scooters, remote-controlled helicopters, DVD setups, tablets and LED TVs. We at Seylan continuously focused on understanding the vicissitudes and values, which helps to improve and fine tune Tikiri products and services to better suit our customers’ needs. With Seylan Tikiri, we have not only been able to empower kids with the habit of saving, but also able educate parents on the importance of saving from a young age. With a strong track record, we continuously aim to add value to our Tikiri account holders, so that when they grow up, they have the right knowledge and the financial support to fulfill their big dreams”. Remarking on World Children’s Day, Gamika remarked, “This is the 4th consecutive year that Seylan Tikiri has come forward to celebrate the Seylan Tikiri Children’s month. This year we have partnered with over 18 leading merchants to offer great savings up to 50% comprising on toys, books, health, and many other categories. Furthermore, we have planned to celebrate the Seylan Tikiri Month across 100 Seylan Bank branches island wide. As a special gift, Tikiri branded Digital Watch will be gifted for deposits of Rs. 1,500 and above to existing or new accounts during the month of October. With this year’s celebrations we aim to indulge our Tikiri account holders with immense benefits and values which will create memories for years to come. Further, we are offering discount coupons where Tikiri holders have the opportunity to produce at leading merchants to obtain great discounts”. Expressing his views on why Seyan Tikiri celebrates World Children’s Day across the month of October, Gamika added “In order to ensure that every Children in the country shares the celebrations of the Seylan Tikiri Children’s Month, we have come up with a series of fulfilled activities which will be executed throughout October. Activities are customised to suit the customer profile, where each Seylan Bank branch has created and innovated their own unique events such as Tikiri pola, quiz competitions, carnivals, kite festivals, magic shows and games, which the children will enjoy. All activities focus on children and ensure these occasions help create special memories. As the bank with a heart, Seylan Bank’s Children’s Month celebrations will touch the lives of thousands of children, as they all come together through this fun-filled month to celebrate the greatest joy of everyone – our children”. Commenting on the social values of Seylan Tikiri, Dinesh added “in addition to celebrating Seylan TIkiri Children’s Month, Seylan Bank considers it their corporate responsibility to infuse children with savings habit along with other social ethics to secure their future through ‘Seylan Tikiri’. By introducing the idea of savings and promoting it in a friendly and engaging manner, Seylan Tikiri has taken an active part to guide the children’s on the right platform”. “With the rapid modernisation taking place, Children should focus on being honest and determined to achieve their big ambitions and on the parent’s side, Children’s need to be taught to be honest, and caring which will help to produce good human beings and nurture every family” added Dinesh.↧
LIOC joins forces with DIMO and Tata
Three giants – Lanka IOC (LIOC), Diesel & Motor Engineering PLC (DIMO) and Tata Motors Limited India are proud to announce the launch of Tata Motors Genuine Oil. The said oil is the highest performance new generation oil (CI4 Plus & 15w40 along with other attributes) for Tata vehicles blended with high quality base oils and selective additives and the most suitable oil for their valued customers at a competitive price.
This is a genuine engine oil specially designed for Tata Diesel Engines with IOC Technology and backed by DIMO trust and recommendation. It offers its users an increased mileage, higher engine lifetime, longer drain intervals, significantly reduced wear and tear at the point of ignition, effective cam/tappet and valve train wear protection with improved control of oil reduction and better emission control. It also gives an excellent all weather performance due to enhanced cold weather properties.
The new Tata Motors Genuine Oil will be available at DIMO’s island wide network which includes Tata Workshops, Service Dealer Network, Tata parts counters and the Tata parts dealer network. It will also be available in IOC’s fuel stations, Service stations, Lube shops and retail network covering over 1,500 points of sale in total initially.
The collaboration of these three industrial giants ensures a superior quality product at the most competitive price for their clientele. With the trust and reliability DIMO, Tata Motors and LIOC have gained over the past decades in the national and international markets, Tata Motors Genuine Oil customers are guaranteed of durable and efficient results for their vehicles.
Managing Director of Lanka IOC PLC Shyam Bohra expressed his gratitude at being able to be a part of this historical launch and to be associated with Tata Motors Limited and DIMO. He emphasised that the combination of TATA Motors Limited, the largest marketer in commercial vehicles; the wide spread DIMO Service network; and the robust supply and distribution chain of Lanka IOC at high performance and cost effective pricing for Tata Motors Genuine Oil in new global container, will ultimately benefit all stakeholders, dealers, distributors and customers in every nook and corner of Sri Lanka. “This launch will benefit all three partners by creating competitive advantage and value creation for stakeholders”, he added.
“Tata is the No 1 Commercial Vehicle brand in Sri Lanka. We take great care to ensure that our Tata Commercial Vehicle customers enjoy the best after-sales care to promote the longevity of their vehicles. With our wide reach network we are in the best position to ensure that the entire island has all access to this superior quality product”, added Ranjith Pandithage, Chairman & Managing Director – DIMO.
Commenting on the partnership, Ganesh Shetty, Head – Customer Care – Commercial Vehicle International Business – Tata Motors Limited went on to say, “We are delighted that the Tata clientele in Sri Lanka will be able to enjoy this superior product and reap the benefits it offers. It portrays our commitment to delivering better performance, distinct and indeed a differentiated value proposition to the Sri Lankan market.”
Lanka IOC, a subsidiary of Indian Oil started its operation in 2002 in Sri Lanka. Lanka IOC markets Auto Fuel, Bunker fuel, Bitumen, Servo brand Lubricants and Petrochemicals. Lanka IOC is the largest listed energy company, ranked among the top 30 best companies by the Business Today group and always ranked in the Top Ten companies by LMD in Sri Lanka. Lanka IOC commissioned its state-of-the-art Lube blending plant at Trincomalee in 2007. The blending plant became the first lubricant plant in Sri Lanka to obtain the prestigious ISO 9001-2015 from the SLSI which is expected to further enhance market acceptance of the wide range of products. With 202 modern Petrol Sheds, 24 lube distributors and over 235 Servo Lube Shops, Lanka IOC’s lubricants have reached every nook and corner of the island and achieved more than 20% market share within a short span of time.
Diesel & Motor Engineering PLC (DIMO) is a public limited company which has a history of over 78 years in Sri Lanka. DIMO operates in business segments such as vehicle sales, vehicle after-sales services, construction and material handling equipment, marketing and distribution and electro-mechanical, bio-medical and marine engineering. DIMO represents over 80 world renowned brands such as Mercedes-Benz, Tata, Bosch, Komatsu, Siemens, Jeep, Bomag, Michelin, Osram, WD-40, Zeiss etc.
Founded by Jamsetji Tata in 1868, sustainability, the spirit of ‘giving back to society’; a core philosophy and good corporate citizenship are strongly embedded in the Tata Group’s DNA. Tata Motors is India’s largest automobile company and brings to the customer a proven legacy of thought leadership with respect to customer-centricity and technology. Tata Motors, India ventured into the international market starting with Sri Lanka by partnering with DIMO in 1961.
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(From left) Shyam Bohra (Managing Director, Lanka IOC); Ranjith Pandithage (Chairman & Managing Director, DIMO) and Ganesh Shetty (Head – Customer Care – Commercial Vehicle International Business, Tata Motors Limited)
(From left) Rahul Nazreth (Deputy General Manager – Sales, Tata Motors Limited); Gourav Jain (Assistant Vice President – Finance, Lanka IOC); Himanka Goswami (Head Customer Care – Sri Lanka, Tata Motors Limited); Madhu Singh (General Manager, Tata Motors Limited); Gahanath Pandithage (Group CEO, DIMO); Shyam Bohra (Managing Director, Lanka IOC); Ranjith Pandithage (Chairman & Managing Director, DIMO); B.B. Patra (Senior Vice President – Lube Marketing & Production, Lanka IOC); Vijitha Bandara (Director, DIMO); Ganesh Shetty (Head – Customer Care – Commercial Vehicle International Business, Tata Motors Limited); Anshuman Samanta (Regional Manager- Customer Care (SAARC), Tata Motors Limited); Randhir Singh (Senior Vice President- Operations & Bunkering, Lanka IOC); Mahesh Karunaratne (General Manager – Tata Vehicle Service, DIMO); V Sivanagalingam (Senior Manager Customer Care Manager – Sri Lanka, Tata Motors Limited); Arfath Ismail (Sales Manager, Lanka IOC); Suresh Kumar (Senior Manager Spare Parts, Tata Motors Limited); Pyush Mahajan (Senior Manager – Sales, Tata Motors Limited)
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MullenLowe Sri Lanka strikes Gold at the Effies yet again
MullenLowe Sri Lanka has once again taken home the Gold Award in the Foods category at the recently concluded 2016 Effie Awards for their innovative and inspired work on Marmite’s “Mealtime Magic” campaign. The ceremony, which was held at the Water’s Edge, saw only four Gold Awards being handed out on the night. The full service agency was also awarded a Bronze Award in the Personal Care category for Rexona’s “A Lesson in Body Odour” and adjudged as finalists in the Home Supplies & Services category for their Surf Excel “Raja Weda Poddo” and Vim “Diviyata Disne” campaigns, respectively.
“Our recognition at this year’s award show is a testimony of the agency’s commitment to meaningful, hard working campaigns. Awards are not a result of an agency team’s effort alone, but a true partnership with likeminded clients who collaborate to bring the best out of us,” said Thayalan Bartlett, Chief Executive Officer (CEO), MullenLowe Sri Lanka.
Marmite’s “Mealtime Magic” was conceived to update the brand’s image for a new generation. This was done by creating “mite” combos by giving everyday dishes a delicious twist by adding Marmite. Rexona’s “A Lesson in Body Odour” sought to tackle the under-penetration of deodorant in the country by educating the public in its necessity. This was done through a social experiment that placed people in a familiar situation and proved the need for deodorant. Surf Excel’s “Raj Weda Poddo” tried to take children away from their modern gadgets and back to the creativity of the playground by asking them to think differently. They were asked to build a toy out of waste items found around the home and Surf Excel packs and tag the photo on Facebook. Vim’s “Diviyata Disne” was born to empower homemakers, the unsung heroes of the family. Vim helped these homemakers hone their skills through workshops so they would be able to supplement their income.
“It is an honour to see our work continue to be recognized at the Effies. We are especially thrilled on bringing home a Gold Effie yet again. These awards further underscore the effectiveness of our clutter breaking, creative campaigns in engaging consumers,” said Dilshara Jayamanna, Senior Vice President / Executive Creative Director, MullenLowe Sri Lanka.
MullenLowe had won a Gold in the ‘Packaged Food’ category for Marmite, a Silver in the same category for Knorr, and a Bronze in the ‘Finance’ category for LOLC and took home the coveted “Most Effective Agency of the Year” title at the Effies last year. As it stands, the agency holds two of only eight Gold Awards that have been awarded in the history of the Effies in Sri Lanka.
A global symbol of achievement with award programs honouring effective marketing communications in 42 countries and 6 regions, the Effie Awards have been held in Sri Lanka in partnership with the Sri Lanka Institute of Marketing (SLIM) since 2008.
MullenLowe Sri Lanka is the local office of the MullenLowe Group, a member of the US$7.6 billion Interpublic Group (IPG) – one of the world’s leading organizations of advertising agencies and marketing services companies headquartered in New York. Seeing great potential in the Sri Lankan market, in 2015, IPG further strengthened its commitment by acquiring a 100% stake in the agency which had started its operations in the country as LDB Lintas in 1993 and was subsequently known as Lowe LDB. A majority of MullenLowe’s business comes from FMCG giant Unilever. In addition, it works with some of the country’s leading brands including Akzo Nobel (Dulux), Ceylon Cold Stores, Dialog, FairFirst Insurance, Hemas, Keells Foods, Laugfs, LOLC, Maliban, Mastercard, Nations Trust Bank, Samsung, and Softlogic Life to name a few.
Photo caption: The jubilant MullenLowe Sri Lanka team with their Effie Awards
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