Adaderana Biz English | Sri Lanka Business News

Thailand’s Securities and Exchange Commission has requested a criminal probe into the activities of Mitsuji Konoshita, the chief executive officer of Group Lease Plc., suspended it from trading as of Oct. 16, the Stock Exchange of Thailand has announced. The company has intrigued Thai investors who have bought its stock on the theory that its business is built on the healthy growth of motorcycle and agricultural sales in the countries in the ASEAN region. Earlier this year, Group Lease officials in a press release said they were considering extending the business into Cyprus and other parts of the Middle East. However, its core hire purchase business in Thailand is believed to have been deteriorating and its growth has instead been built on a series of investments and acquisitions that are ambiguous at best. Group Lease has been the subject of a series of Asia Sentinel stories on its activities since earlier this year. On Oct.13, the company was hit by a devastating report by a mysterious organization calling itself Anonymous Equity that said Group Lease was actually worth a fraction of its share price and could well in effect be little more than a Ponzi scheme. In a prepared release, the SET said in somewhat tortured English that it had filed on Oct. 16 with Thailand’s Department of Special Investigation against the company’s officers and executives including Konoshita “for falsification and corporate fraud. As a result, the aforesaid Mitsuji Konoshita is unqualified for holding the positions of directors and executives in any issuing and listed companies throughout the prosecuted period.” The SEC asked the Group Lease companies to clarify “important information” and its effect on the SET. The share prices of three related companies – J Trust Co. Ltd., Wedge Holdings Co. Ltd. and Showa Holdings Co. Ltd. – nosedived on the Tokyo Stock Exchange, by 16.39 percent, 15.53 percent and 17.99 percent respectively before recovering later. The three also figured in stories about Group Lease. J Trust was the subject of major stories on its takeover of Bank Mutiara in Indonesia amid concerns over financial irregularities. A source told Asia Sentinel the Stock Exchange of Thailand is being urged to share its information with Tokyo authorities. In an email asking for details, Anonymous Equity – whose participants remain anonymous – said that “We have no particular information about the thinking and motivations of the Thailand SEC, but we suspect that there was some additional info in the report that pushed the SEC to act quickly. They must have been looking at this already to be able to move so fast.” Anonymous Equity’s 63-page report, titled “Is Group Lease a Fraud?” argued that the company, which is loosely tied to the Tokyo-based J Trust financial empire – whose investors include US Commerce Secretary Wilbur Ross and the behemoth California Public Employees Retirement Fund — “would not have survived” without the controversial Tokyo-based financial group’s help. Group Lease is said to have misrepresented itself on an extensive list of crucial issues including the identity of its key officials and has manipulated its share price via questionable financial dealings. Group Lease is said to be part of a much large group of Japanese and Southeast Asian entities known as the Group Lease/APF Group controlled by a British Virgin Islands company called APF Group Co. Ltd. After detailing a long series of discrepancies, the report says: “It thus appears likely that Group Lease may be lying about several important issues.” The anonymous writers said the Group Lease/APF Group entities may be “round-tripping” group money through Singapore borrowers, disguising group money as ‘interest income’ in order to create the illusion of earnings for Group Lease.” J Trust and Group Lease were the subject of extensive reports by Asia Sentinel earlier this year after it appeared that the company was kiting its share price on the Stock Exchange of Thailand, rising by more than 1,100 percent in early 2015 to late 2016. After the auditors EY issued a report featuring nine pages of questions over intercompany loans, the share price plummeted by 80 percent before rebounding. EY also raised questions about the acquisition of a 30 percent-odd stake in a Sri Lankan company from a related party, which occurred at a 120-percent premium to market price. According to Anonymous Equity, Group Lease’s earnings are at least partly built on what is alleged to be “dubious interest income” from circular loans between related parties. If that income were stripped out, the company’s actual earnings for the previous year would fall by 55 percent. More than 40 percent of its earnings in 2015 and the first half of 2017 came from interest income on “suspiciously high-interest loans” to two groups of buyers in Singapore and Cyprus which has been a hotbed of financial legerdemain and money laundering until authorities ordered the island’s financiers to clean up their act.

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The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Business Recovery and Insolvency Practitioners’ Association of Sri Lanka (BRIPASL) has joined hands to help build capacity for corporate insolvency services within the country. A Memorandum of Understanding (MoU) signed recently by CA Sri Lanka’s President Mr. Lasantha Wickremasinghe and BRIPASL Chairman Dr. J. M. Swaminathan, allows both organisations to work together to establish a framework for mutual assistance in building capacity for corporate insolvency services within the country and to facilitate the exchange of information between both parties. The agreement will allow both bodies to come together to collaborate to build an enabling environemnt in order to facilitate improvements in dealing with corporate insolvency related matters. The MoU also allows both CA Sri Lanka and BRIPASL to conduct awareness and knowledge enhancing sessions on this subject. As per the agreement, BRIPASL will also provide resource personnel for seminars organised by CA Sri Lanka. The association will also provide technical assistance and guidance in syllabus and study texts development as well as in the examination process of the institute in relation to the certification of Insolvency Practitioners. The agreement also provides a link between CA Sri Lanka and the International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL). CAPTION: BRIPASL Chairman Dr. J. M. Swaminathan exchanging the agreement with CA Sri Lanka President Mr. Lasantha Wickremasinghe. Also in the picture are BRIPASL Secretary Mr. K. Neelakandan and CA Sri Lanka’s Past President and Chairman of the Sub Committee on Capacity Building for Corporate Insolvency Services Mr. Arjuna Herath and Chief Executive Officer Mr. Aruna Alwis.

The 2016 Annual Report of Ceylinco Life has won three awards at the ARC Awards in Tokyo, one of the largest and most prestigious competitions in the world honouring excellence in annual reports. Sri Lanka’s life insurance market leader received the Silver award for ‘Financial Data’ and two Honours awards for ‘Written Text’ and ‘Interactive Annual Report’ improving on its showing at the ARC Awards last year, when the company won two awards. Presented by MerComm Inc., the ARC Awards are based on the values of creativity, clarity, effectiveness and excellence as represented by elements such as cover design, chairman’s letter, interior design, clarity of written text, photography, presentation of corporate information, expression of financial data and how well the spirit of the organisation is communicated. Annual reports scoring in the top 30 per cent are awarded Honours, Bronze, Silver and Gold certificates of outstanding achievement. “We are naturally elated to be among the elite companies honoured at the ARC Awards for a second successive year,” Ceylinco Life’s Managing Director/CEO Mr R. Renganathan said. “We have always subscribed to the fundamental principle of the ARC Awards, that the annual report is the pinnacle of a company’s communications efforts and that it must reflect the company’s commitment to honesty and transparency with all stakeholder segments.” Themed ‘Know Your Life Insurer,’ the 297-page Carbon neutral 2016 Annual Report of Ceylinco Life was the second since the segregation of Life and General Insurance into separate business entities under Section 53 of the Regulation of Insurance Industry (Amendment) Act No 3 of 2011, which came into effect in 2015. The report was produced by Smart Media using Smart Integrated Reporting Methodology^TM, the International Integrated Reporting Framework and guidelines of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). The ARC Awards presenter MerComm Inc. is the world’s only independent awards organisation dedicated to defining the standards of excellence in the communications fields and to recognise the individuals whose work has made an outstanding contribution to their organisations, corporations or clients. The MerComm Awards programmes have achieved world-wide recognition for their integrity and fairness in their judging procedures. Adjudged Sri Lanka’s Best Life Insurer in 2017 for the fourth consecutive year by World Finance, Ceylinco Life has close to a million lives covered by active policies. The company is acknowledged as the benchmark for innovation in the local insurance industry for its work in product research and development, customer service, professional development and corporate social responsibility.

Sri Lanka’s foremost real estate giant, Blue Mountain, has announced 2^nd November 2017 as the last day for prospective customers to view the majestic model apartment at Achilleion to experience 7-star luxury at its best. After the date, the model apartment will make way for the construction of the luxury project which is already underway. The world’s first model apartment created purely for viewing, atop a 7 storey building, it offers a first-hand experience of upscale living. Commenting on the model apartment, Dr. Hiran Hettiarachchi (MBBS-Colombo & MBA-Australia) – Group Chairman of Blue Mountain, said, “We are looking forward to witnessing the successful completion of Achilleion, which has capitalised on Sri Lankan talent in terms of design and construction and is poised bring immense pride to Sri Lanka. The Achilleion model apartment is in its final two weeks and we urge prospective customers to experience the luxury lifestyle that this project will offer. Since it was unveiled 100 ft above sea level, the model apartment is believed to be the tallest stand-alone model apartment in the world. It has garnered rave reviews and was even awarded the best ‘Luxury Show Apartment’ at the prestigious Asia Pacific Property Awards 2016/2017. As a local player with a global vision, with Achilleion we hope to expand the horizons of what Sri Lankans thought was possible whilst contributing significantly to the country’s journey towards prosperity and development.” Located in the heart of Colombo 4, next to the Majestic City shopping mall, Achilleion will make an iconic appearance on Colombo’s skyline and will feature all-new levels of luxury and innovation. This state-of-the-art complex will also feature Sri Lanka’s first-ever sky bridge, the tallest sky restaurant by sea and an infinity pool, which will offer breath-taking views of the Indian Ocean and the vibrant Marine Drive stretch. Blue Mountain advises those interested to reserve personalised tours on: 0714260260 prior to visiting the site. Since its inception, Blue Mountain (Pvt) Ltd has revolutionized the local real estate market by infusing a professional ethos by leveraging on its expertise in conceiving and executing a profusion of urbane real estate projects encompassing luxury residential plots and commercial properties. The company is focused on delivering innovative design, exclusive standards of construction, superior customer service and deep community values. Blue Mountain recently won the 5-Star award at the Asia Pacific Property Awards and distinguished itself as the first Sri Lankan company to be recognized among the Best 1000 global real estate companies.

Evinta Departure Control System (Evinta DCS), a product by John Keells IT, won the overall GOLD award at the recently concluded British Computer Society’s National Best Quality Software Awards (NBQSA) 2017, held at Taj Samudra, Colombo. Evinta DCS won the top award contending with more than 200+ leading IT companies in Sri Lanka. Evinta DCS was also adjudged as the winner of Gold award in the Travel and Tourism category and earned a nomination for the regional Asia Pacific ICT Awards (APICTA), which would be held in Bangladesh in Dec 2017, by virtue of being adjudged the winner of the Overall Gold Award at the finale. Mr. Paul Martynenko, the President of British Computer Society presented the award to John Keells IT team. ‘’Evinta DCS currently serves clientele across the global aviation spectrum. Almost 20+ years of experience has gone into engineering this to date and we continue to invest on it to make it relevant in today’s digital era. We are delighted to be recognized at NBQSA 2017 with an overall Gold award as well as Gold category award which bear adequate testimony of the efforts that have gone into the product in making it world class. We are committed to investing on it in making it one of our flagship products in digitizing airports and travel industry and making the experience for everyone concerned a seamless and an enjoyable one”, said Mr. Ramesh Shanmuganathan, Executive Vice President / Chief Executive Officer, John Keells IT. Evinta DCS is a fully Cloud based airport system that allows an airline to seamlessly check-in and board passengers through counters, kiosks, tabs and many other options. The system requires only an Internet connection to be accessible airport-wide and this sets it apart from other legacy airport systems that require expensive servers and communication links. Evinta DCS eases congestion at check-in counters and boarding gates while requiring minimal infrastructure. Evinta DCS’ graphical user interface is popular with airport staff who previously had to master a special set of commands to operate other traditional departure control systems. Evinta DCS, which is currently rolled out at 96 airports worldwide, is targeted at airlines and ground handling agents. Evinta DCS is also able to function as the “Back-up DCS” to any existing departure control systems. This ensures that airports and airlines enjoy continuity in operations if there is an outage from the primary provider, allowing the airport staff to check-in passengers without any disruption or degradation of service delivery. The NBQSA Award is the most sought after title in the IT industry and is conducted by the British Computer Society in association with SLASSCOM and ICTA, Sri Lanka. Photo caption: The John Keells IT team with the Gold Award at NBQSA 2017 About John Keells IT: John Keells IT is a leading consulting cum professional services company and is a fully owned subsidiary of Sri Lanka’s largest and premier conglomerate John Keells Holdings PLC which boasts of the highest market capitalization in Sri Lanka with an annual turnover in excess of US$ 800m. John Keells IT has distinct focus on Strategy, Consulting, Digital, Technology and Operations through its Strategic Business Units, namely SGIT(www.sgit.keells.com), JKCS (www.jkcsworld.com) and Infomate (www.infomateworld.com). We help you maximize your performance and achieve your vision. We develop and implement technology driven, business solutions that helps you improve your engagements with your clients, helps you enhance your effectiveness and efficiency and help run your operations. Ultimately, we enable you to unleash value through innovations. John Keells IT takes pride in being a trusted partner for more than 500+ customers spanning 4 continents in making our customers the trend setter in their respective domains powered by our knowledge capital that exceeds 500+ professionals and collective wealth of experience in excess of 10,000 man years. Contact JKIT – +94 11 230 0770, info@johnkeellsit.com or (www.johnkeellsit.com) About John Keells Holdings: JKH is Sri Lanka’s largest listed conglomerate on the Colombo Stock Exchange. From the largest inventory of hotel rooms in Sri Lanka, owning a large private-sector-owned transportation business in the country and providing port and marine fuel services to IT solutions, manufacturing of food and beverages, running a chain of supermarkets, tea broking, stock broking, banking and real estate, JKH has made its presence felt in virtually every major sphere of the economy. (www.keells.com)

In a continuing effort to partner its clients and support them to achieve their aspirations, Sri Lanka’s leading retail bank, HNB PLC, announced that it would be reducing interest rates on all of its core personal financial products – spanning leasing, housing and personal loans. “Over the recent past we have witnessed significant demand for loans, particularly in the demographic of young professionals, many of who are seeking to buy a car, start a home, for professional studies or for any other investment activity, as these are important landmarks in our customers’ lives and we want to do our part to make them a reality. “At HNB we are committed in supporting our clients to achieve their dreams, and serve as a true partner in their journey to greater prosperity. Hence, when we saw an opportunity to pass on the benefits of current macroeconomic conditions to our customers we decided to move quickly to ensure that all of our customers gain from current market dynamics,” HNB Head of Personal Financial Services Viraj Mendis said. The bank currently offers up to 70% of the total market value as a loan on registered vehicles and 50% of the market value on new vehicles. Following the rate cut, interest rates on Personal Financial Service products will start as low as from 13.25% for professional category, for housing purposes. He added that Sri Lanka’s increasing affluence was also beginning to be demonstrated through increased demand for personal loans aimed at funding education and international travel, which the rate cut from HNB, is ideally timed to facilitate. “At this time of the year, many foreign universities start to open up applications; hence we tend to receive even greater applications for education loans. Similarly, travel loans also tend to spike towards the end of the year, with travel companies often offering discounts for pre-booking targeting the first and second quarters of 2018,” Viraj Mendis explained. He further noted that HNB will continue to offer these loans on fixed or floating rates, depending on the requirements and preference of each customer while further discounts and special rates would be rolled out to customers in the coming months as part of the bank’s festive season campaigns. Further discounts are also available to HNB’s Shanthi Housing Loyalty Cardholders from over 60 + selected merchants. For more information contact 011 2661961 or visit: www.hnb.net Photo caption: Viraj Mendis, Head of Personal Financial Services, HNB

Hayleys Plantations Sector continued to receive international recognition for its pioneering HR practices, having recently been awarded the organization with The Most Innovative HR Practices at the Asia Pacific HRM Congress Awards 2017 for the second year in a row. Taking place in Bangalore, India, the Asia Pacific HRM Congress is one of the most prestigious regional events for HR professionals–serving both as a platform for sharing for discussing pressing industry issues as well as an opportunity for showcasing the best and brightest organisations and individuals and their many notable achievements. “It is a true honour for us at Hayleys Plantations to receive this award at such an internationally renowned forum as the Asia Pacific HRM Congress. This award builds on the outstanding recognition we received in 2016, and stands as a testament to the tireless efforts of our team of employees, working hand-in-hand with regional communities to establish a culture that empowers all stakeholders,” Hayleys Plantations Managing Director, Roshan Rajadurai stated. Previously, Hayleys Plantations brought home the award for ‘Leading HR practices in quality work-life’ at the World HRM Congress Awards 2017 while Hayleys Kelani Valley Plantations’ Deputy General Manager- HR & Corporate Sustainability, Anuruddha Thiththagalla Gamage was ranked among the ‘100 Most Influential Global HR Professionals’ in recognition of his efforts to extend comprehensive human resource management initiatives in keeping with the direct strategic vision and guidance of Mr. Rajadurai. Additionally, the company was also adjudged Gold Award winner at the National HR Excellence Awards 2016 and bagged the largest ever number of awards in its history, both in local and international competitions. The Plantations sector employs nearly 24,000 people, and supports a further extended community of 140,000 people. Hayleys owns and manages three plantation companies, Kelani Valley Plantations (KVPL), Talawakelle Tea Estates (TTEL) and Horana Plantations PLC (HPL) and manages 60 Tea & Rubber estates, spanning over 26,750 hectares of land and account for 3.8 percent and 3.4 percent of Sri Lanka’s tea and rubber production respectively. Through concerted efforts to improve the social and economic standards of its 24,000 direct workforce and its 140,000 strong extended plantation community, Hayleys Plantations has worked to ensure that these communities are given a meaningful stake in the profitability of its plantation sector. The company has made HR initiatives the lynchpin of its strategy for raising productivity and quality of what it considers to its most valuable resource, the Hayleys Plantations team of employees. Photo caption: Hayleys Plantations Deputy General Manager – HR & Corporate Sustainability, Anuruddha Thiththagalla Gamage accepting the award for Most Innovative HR Practices at the Asia Pacific HRM Congress Awards 2017

Reuters – Sri Lankan shares ended down for a third straight session on Thursday to hit near a one-week low, led by banking stocks while block deals boosted the turnover, brokers said.

The Colombo stock index ended 0.25 percent weaker at 6,555.46, its lowest close since Oct. 10. The stock, bond, and foreign exchange markets were closed on Wednesday for Diwali, the Hindu festival of lights.

“The market continue to be in the red zone with investors selling shares which gained in the past few days,” said Atchuthan Srirangan, senior research analyst, First Capital Holdings PLC.

“The retail investors are on the sideline as the market continued to be on the red zone. But turnover is boosted by some big deals.”

Shares of Hatton National Bank ended down 2.5 percent while the biggest-listed lender Commercial Bank of Ceylon Plc closed 0.5 percent weaker and Asiri Hospitals Plc finished 1.9 percent down.

Turnover was 1.1 billion rupees ($7.16 million), more than this year’s daily average of 939.9 million rupees.

Foreign investors were net buyers of shares worth 17.2 million rupees on Thursday extending the year to date net foreign inflow to 19.1 billion rupees worth of shares.

Sampath Bank, in its continuing commitment to emphasize the importance of saving, has introduced an exciting gift promotion that will both incentivize and help depositors save money. Once again Sampath Bank is celebrating ‘Thrift Month’ in October and during this period is rewarding general savings accountholders with SLS certified LED bulbs that will help them reduce their overall electricity bill while contributing towards an eco-friendly Sri Lanka. LED bulbs consume less electricity than CFLs, have a longer lifespan and are mercury free. These gifts were chosen by the Bank for the dual purpose of combating the rising cost of electricity and to help accountholders go green. Savings accountholders will receive one 7W LED bulb for a savings deposit of Rs 20,000 and two 7W and a 9W LED bulb for a savings deposit of Rs 50,000. The Bank will issue special vouchers for accountholders to collect their gifts from over 700 dealers across the island. Commenting on this exciting new promotion, Tharaka Ranwala, Senior Deputy General Manager – Consumer Banking, Sampath Bank PLC said, “As a national financial services provider we see it as our responsibility to encourage our customers to be fiscally responsible by instilling the habit of saving in them. It is also important to consider our impact on the environment thus our choice in gift this year was a conscious effort on our part to help our customers to not only save more but also help them become more eco-friendly. Therefore, we see the introduction of this promotion as not only rewarding our customers but also serving the nation.” This endeavor will coincide with World Thrift Day on 31^st October. 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 themselves from the competition and make them the bank of choice for many in Sri Lanka.

Perceived Economic Opportunity PEO: July, 2017 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a sample of 400 men and women in July 2017 covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months. Status Of Job Prospects Or Business Performance Analysis of the perceived economic opportunities in the month of July 2017 indicates, that the expectations in terms of job prospects of people or developing the status of their business in the ensuing 12 months has been incresed, compared to June 2017. The expectations in terms of job prospects of people or developing the status of their business reported a decrease in the month of June 2017 compared to the month of May 2017. The same expectation recorded an increase in the month of May 2017 compared to the month of April 2017. It is significant to note that the same expectation showed a continuous increase from December 2016 to February 2017 and then began to fall from the month of March 2017. Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, increased to 8.6 percent in March 2017 from 8.2 percent in February 2017, on the year-on-year basis. However, it again decreased to 8.4 percent in the month of April 2017 and to 7.1 percent in the month of May 2017. Inflation, remained unchanged from the previous month at 6.3 per cent in July 2017, on year-on-year basis. Sri Lanka’s external sector continued to improve with increased exports and inflows to the financial account. However, the trade deficit widened in July 2017 compared to the corresponding month of 2016 due to higher import expenditure amid the increasein export earnings. Tourist earnings declined marginally in July while workers’remittances increased, reversing its declining trend observed in the last four months. The financial account continued to strengthen in the month of July 2017. Continuing the upward trend observed since March 2017, earnings from exports increased in July 2017 surpassing the US dollars 1 billion mark for the second timeduring the year.The growth in exports was mainly driven by industrial exports, followed by agricultural exports. Earnings from exports registered a year-on-year growth of 13.9 per cent to US dollars 1,016 million in July 2017. The below graph shows the change of expectations in terms of job prospects of people or developing the status of their business in the ensuing 12 months. Refer the graph 01 below;

These reasons are likely to have had an impact on the expectations of job prospects and the business activities of the people in the month of July 2017. Ability To Save According to the analysis in the month of July 2017, the expectation among the people to save a little more from their personal earnings in the ensuing 12 months, has increased. However, the same expectation recorded a decrease in the month of June 2017. Please Refer the Graph 02;

Expectation For Reduction Of Corruption The expectation for reduction of corruption in the country started to fall in March, and the same expectation continued to fall even in the third month, May 2017. But, the same expectation showed a positive trend in the month of June 2017. Continuing from the month of June 2017, it is shown that the expectation for reduction of corruption has increased in the month of July 2017. The higher expectation for the reduction of corruption in the country that many expected at the time the current government came into office, has gradually decreased in past months. But, it is significant to note, that this perception took a dramatic fall in October 2016 likely due to the much-publicized issue of the probe by the Parliamentary Committee on Public Enterprises, or COPE. Sri Lanka appointed a Special Presidential Commission of Inquiry to investigate the controversial Central Bank bond issue and recommend action in the month of January 2017 and it is significant that the investigation has reached an important stage by the month of July 2017. Please Refer the Graph 03;

PEO; Perceived Economic Opportunity is developed and surveyed by the Foundation for Economic Freedom in Sri Lanka. PepperCube Consultants carry out field research covering the entire country. The Perceived Economic Opportunity was developed and is measured by the Foundation for Economic Freedom in Sri Lanka (FEF) in partnership with Friedrich Naumann Stiftung Fur Die Freiheit.

Prime Minster Ranil Wickremesinghe yesterday (19th Oct.) opened the Sri Lanka’s first ‘Passive House’ model factory building at Export Promotion Zone in Katunayake and made an observation visit.

More than 600 Fonterra Brands Sri Lanka employees came together this month to celebrate the dairy co-operative’s diversity and depth of talent at the inaugural Fonterra Infinity Awards Night 2017, which recognised the company’s inspiring leaders and top performers. Fonterra, the dairy co-operative behind Anchor, has been operating in Sri Lanka for 40 years. Its team is united by a purpose to make Sri Lanka a healthier and happier nation, and works right across the dairy supply chain – from sales professionals to local farmer extension teams to lab technologists. Human Resources Director of Fonterra Brands Sri Lanka, Dinusha Jayamanne, said the first-ever Fonterra Infinity Awards Night was truly an event for the people, by the people. “We have top talent right across our business, and this was a great opportunity for us all to come together to acknowledge their hard work and achievements. “For instance, Shafraz Saleem was awarded this year’s Emerging Leader for his next-generation leadership potential. Previously a Brand Manager, this month he joins the Strategy team where he will have the opportunity to steer the organisation’s strategy,” said Ms. Jayamanne. As a company that employs 22,000 around the world, Fonterra is fortunate to be able to offer major career development opportunities for these great performers, Ms. Jayamanne said. “Sapumal Thibbotuwawa, who was presented with the Inspiring Leader award for his exemplary leadership capabilities, was recently appointed a Human Resources Director to Fonterra Thailand – our latest export to the global Fonterra world.” In total, 22 awards were presented to top performers and business partners with every part of the business being recognised. The Sales team walked away with the most prestigious award of the night, the Champion Function Award. “Our team of passionate, results-oriented sales experts are some of the best in the country. They have done fantastic work to completely transform the function and make sales a science,” said Ms. Jayamanne. On the night, a group of over 100 employees across company levels and functions also had the chance to showcase their hidden talents on stage. Through an entertaining five-part segment titled “Infinite Talents”, keen team members owned the stage with their professional performances that kept the audience on their feet. “Our culture is focussed on building an environment that not only fosters their career development, but their personal growth and passions as well,” said Ms. Jayamanne. The Infinite Talents segment included a live band, group singing, group dancing, drama and an organisation-wide fashion show. Following a company-wide talent search and auditions in September, teams went on to be mentored by experts in the entertainment industry, emerging after a rigorous schedule of rehearsals as professional performers that stole the show.

Shafraz Saleem (left) receiving the Emerging Leader Award

Sapumal Thibbotuwawa (centre) receiving the Inspiring Leader Award

The Fonterra Sales Team receiving the Champion Function Award

Winners of the 22 awards presented at the Fonterra Infinity Awards Night 2017

Fonterra team members showcase their hidden talents through the ‘Infinite Talents’ segment

~ A new employability and skills development project to tackle youth unemployment With the support of the United States Agency for International Development (USAID), a coalition of partners from the Government of Sri Lanka, the private sector, non-profit organizations, think tanks, and academic institutions launched an initiative to increase the employability of Sri Lankan youth. “YouLead” is a $12 million initiative that will link youth to productive careers in the Sri Lankan economy by creating a more market–oriented, skilled, and flexible Sri Lankan workforce. USAID and its partners will collaborate over a four-year period to help young Sri Lankans between the ages of 16 and 35 become more competitive in the labor market. “YouLead” will also engage the private sector and the Ministry of Skills Development and Vocational Training on skills, knowledge, and capacity-building activities that aim to increase youth employability and sustainable self-employment. “YouLead” regional focus is on the provinces with the highest youth unemployment—Sabaragamuwa, Central, Southern, and Northern Provinces. The project also aims to foster increased opportunities for self-employment by improving the skills of young entrepreneurs and working with financial institutions to encourage more lending to youth-led start-ups. Given the substantial number of unemployed women and their 35 percent workforce participation rate, “YouLead” will encourage more women to enter the workforce and take up in-demand careers. At the inauguration ceremony in Colombo on October 19, U.S. Ambassador Atul Keshap said, “The future of Sri Lanka depends on its youth gaining the skills and knowledge that will power the country’s prosperity.” Ambassador Keshap emphasized the significance of public-private partnerships, noting, “by deploying the resources and knowledge of government and business, “YouLead” aligns global best-practice tools and training with in-demand jobs.” The inauguration also featured the Minister of Skills Development and Vocational Training Honorable Chandima Weerakkody; USAID Mission Director, Dr. Andrew Sisson; Vice President of the International Executive Service Corps (IESC) and in-Country Project Director for YouLead!, Charles Conconi; Chairman, Ceylon Chamber of Commerce, Rajendra Theagarajah; President of the American Chamber of Commerce, Kumudu Gunasekera; together with corporate luminaries, youth leaders, and role models. “Matching skills and jobs has become a high priority not just for our success as a nation but on a global level” said The Minister of Skills Development and Vocational Training, Hon Chandima Weerakkody. “Many employers report difficulties in finding suitably skilled workers, thus it is imperative that all curricula and skills development programs undertaken do so with continuous consultation and feedback from the industries and sectors that provide employment. Without this the skills mismatch continues to be a crippling problem not just to the youth of the country but also negatively impacts the economic growth of the nation. So let us take into consideration the repeatedly highlighted requirements of employers’, as well as have the initiative to preempt what the future requirements will be and train our youth accordingly.” The Minister thanked USAID, the” YouLead” team and their partners for agreeing to help young people develop much needed skills, and enhance their ability to secure proper, career enhancing employment. The USAID-funded “YouLead“ program is administered by VEGA (Volunteers for Economic Growth Alliance) and implemented by IESC, an organization that has worked with hundreds of private enterprises in Sri Lanka since 1965. Under “YouLead“, IESC will partner with the Ceylon Chamber of Commerce, the American Chamber of Commerce, Arizona State University, Global Communities, Skills for Life, and Verité Research. About USAID: USAID is the development agency of the U.S. Government, and has provided development and humanitarian assistance to developing countries worldwide for more than 55 years. In Sri Lanka, the U.S. Government has provided over two billion dollars since 1956.

Chairman, Ceylon Chamber of Commerce, Rajendra Theagarajah (left) and U.S. Ambassador Atul Keshap

Minister of Skills Development and Vocational Training Honorable Chandima Weerakkody (left)and Vice President of the International Executive Service Corps (IESC) and in-Country Project Director for YouLead!, Charles Conconi

For the second consecutive year Amãna Bank has come forward to sponsor the Islamic Finance Forum of South Asia (IFFSA) as its Lead Banking Partner. The 2^nd edition of this regional conference is scheduled to take place on 24 October 2017 at Ramada, Colombo and will discuss the opportunities and challenges on how the non-interest based banking industry can expand its footprint across the South Asian region, which has a large demand for Islamic Banking & Finance. Commenting on this partnership, the Bank’s Chief Executive Officer Mohamed Azmeer Said “As the pioneers of Islamic banking in Sri Lanka, we are honoured to once again partner with IFFSA as this would be an ideal platform to engage in learning knowledge and expertise to drive the industry forward. This forum would also give the opportunity for Sri Lanka to showcase its potential as a hub for Islamic Banking and finance for the entire region.” Other than the representation from the Sri Lankan Islamic Banking & Finance industry, the forum would also witness representatives from India, Pakistan, Bangladesh and Maldives. The forum will address key topics such as leveraging the potential that a USD 500 million market offers, fin-tech and its impact on the IBF industry, rediscovering the essence of Islamic Banking, the role of non-banking finance institutions in complementing mainstream banks and funding infrastructure and SMEs via IBF instruments. 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. Photo caption: Amana Bank’s Senior Vice President Corporate & SME Banking M.M.S. Quvylidh handing over the cheque to UTO Group of Companies Group Executive Director Aakif Wahab

Beijing, China – Etihad Airways and Alibaba’s Tmall and Alitrip will today debut a specially branded aircraft livery for the 11.11 Global Shopping Festival 2017. Five aircraft emblazoned with this special 11.11 exterior will depart from Abu Dhabi travelling to four destinations in Greater China – Beijing, Shanghai, Chengdu and Hong Kong. In the coming month, these five aircraft will carry this unique branding to over 40 cities across Etihad Airways’ global network. China has over 721 million internet users and the ecommerce industry in China has grown continuously over the past decade. Tmall is the lead player in the country’s ecommerce industry. Its 11.11 Global Shopping Festival has quickly become the largest and most influential online shopping festival in China. China is the UAE’s second-largest trading partner. This partnership proactively executes China’s ‘Belt and Road’ initiative, facilitating economic ties and cultural exchange between China and the UAE. At the same time, it takes Chinese culture to Europe, the US and Africa via the Abu Dhabi hub. From the 20^thof October, five Etihad Airways’ aircraft complete with the new branding will officially take to the skies over a five day period. These five aircraft include three types from the airline’s modern fleet – two Boeing 787 Dreamliners will fly to Shanghai and Beijing, with two Airbus A330 aircraft flying to Chengdu and Hong Kong. Additionally, one Airbus A380 aircraft, featuring Etihad Airways’ award-winning First Apartments and The Residence cabins, will fly to London, New York, Sydney and Paris. Together, these five aircraft will fly via the Abu Dhabi hub to Etihad Airways’ destinations in Asia, Australia, Europe, the Middle East, Africa and the Americas. Over the course of the next month, they will carry the 11.11 branding to over 40 global destinations, carrying hundreds of thousands of travellers around the world. To further celebrate the Tmall 11.11 Global Shopping Festival, Etihad Airways will work with their partners and top English Premier League team Manchester City Football Club to share messages celebrating 11.11. 111 lucky guests who book travel to the UK during the promotion will be eligible for tickets to see Manchester City play Chelsea at the Etihad Stadium in March 2018. Elements of the 11.11 promotion will be seen at the football club’s home, the Etihad Stadium, as well as in Abu Dhabi International Airport and in Etihad Airways’ inflight magazine, Atlas. These efforts are designed to drive the promotion of the 11.11 event which is aligned to Tmall’s concept of ‘Global Buying, Global Selling’. Etihad Airways continues to build on its long-term relationship with Alibaba Group. The airline signed a partnership agreement with Alitrip to launch its first online flagship store in February of this year. With access to nearly 200 million registered Alitrip users, the online store has significantly enhanced Etihad Airways’ digital reach in the Chinese market and made its remarkable products and services even more accessible to Chinese guests. By seizing the opportunities presented by the Tmall 11.11 Global Shopping Festival 2017, the two parties will expand their innovative partnership across the ecommerce arena. The two brands will continue to work together with the ultimate goal of improving their awareness and influence in the global marketplace. Etihad Airways possesses a strong global network and best-in-class innovative technologies and services, while Tmall boasts a complete commercial ecosystem and significant big data resources. With these complementary strengths, the two parties expect even broader cooperation over time. In the near future, they will continue to discuss detailed cooperation plans for mobile payment, big data support, as well as tailored promotion, respective membership programs and ancillary services to improve passengers’ comprehensive travel experience. Mohammad Al Bulooki, Etihad Airways Executive Vice President – Commercial, said, “Alibaba is a very important partner for Etihad Airways. As a global airline, we continuously research and deliver services to meet our Chinese customers’ needs and strive for improvement in all areas of our operation. China is an important growth market and we need to follow the market trends. Etihad Airways will work closely with Alibaba to lead the way and deliver on the high customer expectation in China, and to promote Abu Dhabi in this rapidly developing marketplace.” Hu Chenjie, Alibaba Group Vice President and Alitrip Vice President, said, “We are delighted to enter into this special cooperation with Etihad Airways, a prestigious, world-leading airline. With the power of Etihad Airways, we can enhance global passengers’ awareness of both the Alibaba and Alitrip brands, allowing the ecological chain we painstakingly built to reach more passengers worldwide. Guided by Alibaba’s global strategy, we partner with Etihad Airways, helping consumers to experience unique global destinations, especially emerging destinations such as Abu Dhabi, the rest of the UAE, as well as the Middle East and Africa.” As the annual 11.11 Global Shopping Festival is drawing near, Etihad Airways will shortly launch a promotional campaign via its online flagship store on Alitrip, offering four benefits for consumers as below:

Etihad Airways Advance Purchase Cards
A three-day ‘private fare’ for the EY flagship store, from November 11
‘Global Travel for 1 CNY’ raffle draw, with zero-fare tickets to Nagoya and Abu Dhabi on offer as prizes
Special fares to 11 destinations, subject to conditions

For more information on Etihad Airways’ Official flagship store on the Alitrip platform, please visit: https://etihadairways.Alitrip.com Photo caption: Etihad Airways’ B787 Dreamliner with the Tmall 11.11 branding 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. 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 About Alibaba Group: Alibaba Group is a Chinese e-commerce company founded by Jack MA in 1999, in the belief that the Internet would level the playing field by enabling small enterprises to leverage innovation and technology to grow and compete more effectively in the domestic and global economies. Alibaba Group provides the fundamental technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage the power of the Internet to engage with their users and customers. Its businesses are comprised of core commerce, cloud computing, digital media and entertainment, innovation initiatives and others. As of August 2017, Alibaba has over 529 million monthly active mobile users across its platforms.

Building on an agreement signed last February, Sri Lanka’s most innovative bank, HNB PLC, announced a follow-up partnership with UnionPay International to enable ATM acceptance of UnionPay cards. UnionPay is currently the largest bankcard scheme in terms of cards issued in the world. The new agreement further consolidates on the relationship between UnionPay and HNB, which was the first domestic bank in Sri Lanka to commence POS acceptance on UnionPay Cards. Management from UnionPay International including Mr. Shuan Ghaidan (Product Director) and Mr. Liu Heng (General Manager of Hong Kong, Macau and South Asia) attended an event to commemorate the signing of the agreement with HNB, which is anticipated to enable even greater convenience for cardholders of the increasingly popular network. “Particularly at a time when China continues to be the number one market in the world with the highest number of outbound tourists, this partnership is a timely step towards the facilitation of greater convenience and connection between Sri Lanka and the East Asian region. “We believe that this partnership with UnionPay International represents another important step towards establishing greater economic and ultimately social integration with this vibrant region. In that regard, we express our gratitude and look forward working with UnionPay International to further strengthen our partnership moving forward,” HNB Managing Director/CEO, Jonathan Alles stated. As the world’s leading payment network, UnionPay International is one of the world’s fastest growing global payment networks and is now accepted in 162 countries and regions with issuance in 42 countries and regions. The payment network initially grew parallel to increased demand for card use from Chinese customers traveling overseas for business, travel and study, however the network has since grown rapidly in popularity outside of China – particularly across Southeast Asia, Northeast Asia, Central Asia, Europe and the United States. “With UnionPay as the leading payment method among Chinese tourists, the demand for local payment and cash withdrawal with our cards continues to increase. Earlier this year, we already joined hands to enable POS business in Sri Lanka; today the further deepened partnership with HNB on ATMs will definitely lead to a win-win situation. We will continue to strive to provide our card users seamless payment services around the globe and as the next step, we look forward to further exploring innovative payment opportunities with HNB in Sri Lanka,” Mr. Shuan Ghaidan, Product Director of UnionPay International said. China is widely projected to become Sri Lanka’s strongest inbound tourist market in the near future with the tourist industry estimating a 10.4 percent annual increase up to 2021. Such trends are expected to be greatly bolstered by the proposed One Belt One Road initiative mooted by China, which is anticipated to boost tourist arrivals and trade within the region. UnionPay International is the subsidiary of China UnionPay focused on international business. More than 6.3 billion UnionPay cards have been issued globally. It provides high quality, cost effective and secure cross-border payment services ensuring convenient localized services to a growing number of global UnionPay cardholders and merchants. HNB continues to be a respected pioneer in the Sri Lankan banking industry having been adjudged ‘Best Retail Bank in Sri Lanka’ for the 9th time at the Asian Banker Awards 2017, which also recognized HNB as the ‘Best Microfinance Product in the Asia Pacific Region’. The bank won several other accolades during the year including The AsiaMoney Magazine’s award as ‘Best Bank for SME’ and ‘Best Bank for CSR’ in Sri Lanka. More recently, CFA Sri Lanka bestowed HNB with a ‘Bronze’ award for ‘Best Investor Relations’ while HNB’s Annual Report was adjudged to be among the top 10 integrated reports at the CMA Sri Lanka awards 2017. HNB’s leadership in technology was also recognized with the Bank’s ATM network being recognized as the ‘Best ATM Network of the Year’ at the Lanka Pay Technnovation Awards 2017. HNB is the first local Bank in Sri Lanka to receive an international rating on par with the sovereign from Moody’s Investor Services while maintaining a national long term rating of AA – (lka) from Fitch Ratings Lanka Ltd. HNB is also ranked amongst the top 1000 banks in the world by the prestigious Banker Magazine. Photo caption: (From left) HNB Head of Cards, Roshantha Jayatunge; HNB Chief Digital Officer, Sidath Wijeratne; HNB Chief Operating Officer, Dilshan Rodrigo; UnionPay International Product Director, Shuan Ghaidan; UnionPay International General Manager – Hong Kong, Macau and South Asia, Liu Heng; UnionPay International Senior Head – South Asia, Derek Chang; Union Pay International Country Manager – Sri Lanka, Crispin Wijesekera

Continuing on its journey to better serve a growing base of valued customers, Softlogic Finance PLC announced the further expansion of its branch network with the opening of its 34^th fully-fledged new branch in Kotahena. Situated at No. 244. George R De Silva Mawatha, Colombo 13, the new premises will operate as a full-service branch, offering customers the superior products and service offering that has become synonymous with Softlogic Finance. The branch will offer Business Loans, Group Personal Loans, Leasing, Fixed Deposits and Savings. It will be open for business during weekdays from 8.30 a.m. to 5.00 p.m. Many senior officials of Softlogic Finance attended the opening including Deputy Chairman – Harris Premaratne, Group Director – Aaron Davison , CEO – Nalin Wijekoon, COO – Indresh Fernando, AGM – Nalaka de Silva in addition to other senior members of the Management team and customers of Softlogic Finance. “With the addition of our latest Kotahena branch, Softlogic Finance is poised to capture a larger, more diverse segment of the local market, and we believe that this will place our Company in an even better position to cultivate improved relationships and enjoy improved growth moving forward. CEO, Nalin Wijekoon said. “While customers from the area would enjoy enhanced and more convenient access to our services, Softlogic Finance too can tap greater into the potential of the region.” Softlogic Finance PLC is part of the Softlogic Group that has interests in Healthcare, Retail, Financial Services, ICT, Leisure, Automobiles and Restaurants. The Company is a Registered Finance Company under Finance Business Act No 42 of 2011, as well as being a Specialized Leasing Company, licensed by the Central Bank of Sri Lanka under the Finance Leasing Act No. 56 of 2000. Photo caption: Collage of the Opening Ceremony

~ Introduces Revolutionary ‘Life Insurance’ plan for Per Day Insurance Softlogic Life in partnership with Dialog Axiata PLC, Sri Lanka’s premier telecommunication services provider, announced the launch of a new and innovative ‘Life Insurance’ plan under the Per Day Insurance brand. With the intention of launching novel and innovative products to market, Softlogic Life in collaboration with Dialog, has ventured into delivering convenient insurance plans that are accessible across different economic segments. Adding value to the already established ‘Per Day Insurance’ hospitalization and accident covers, Life Insurance will enable every Dialog customer to enjoy the benefits of a comprehensive life insurance package from Softlogic Life, at an affordable price. With the objective of enabling a life insurance cover for every Sri Lankan, Life Insurance is positioned to become a pioneering product in the industry, offering from as low as Rs.1 to Rs.10 per day and covers ranging from Rs.100,000 to Rs.1,000,000. The service also extends life protection up to the age of 70 years through a transparent and hassle-free process with zero documentation. Also Softlogic Life has collaborated with MILVIK Lanka (pvt) Ltd as the customer service support partner. The service is exclusively available for all prepaid and postpaid customers of Dialog. Expressing his views, Softlogic Life Managing Director, Iftikar Ahamed said, “We are proud to partner with Dialog Axiata to introduce this timely Per Day Life Insurance Plan for Dialog’s widespread customer base in Sri Lanka. The simple life protection product was designed based on two important ethoses: one, offer an adequate life insurance cover for every Dialog customer and two, give Dialog customers the ability to purchase it with ease.” “Our latest offering will empower Dialog customers to make a worthy choice vis-à-vis their family liabilities and protect their loved ones’ future financial prospects at an affordable price,” Ahamed alluded further. Softlogic Life ensures reliability and efficiency for Dialog customers in terms of claim settlements, considering its globally award-winning reputation with claim settlements over the years. In 2016 alone, Softlogic Life has given away health claims worth more than Rs.100 million and settled 80% of their claims within 24 hours. Mr. Supun Weerasinghe, Group Chief Executive Officer, Dialog Axiata PLC said, “Dialog and Softlogic Life have continued to strengthen their relationship through multiple strategic initiatives in the past. Per Day Insurance was initially launched to extend Mobile Micro Insurance services targeting the rural masses, and the product continues to gain traction for its convenience. Life Insurance, the latest addition to our suite of offerings, provides an opportunity for all Dialog customers to receive a special life insurance plan at an affordable price that can be conveniently accessed.” Dialog customers can now register for the service by dialing #107*1#. Upon successful registration, an SMS will be sent to the user with details. For Prepaid customers, a fee will be deducted from their credit balance daily and for postpaid customers, it will be added to their monthly bill. In the situation of an unfortunate death, the nominee will have to inform the dedicated customer care agent by dialing 444. After submission of the required documents, the claim will be awarded to the user within 72 hours. About Softlogic Life: Softlogic Life has rolled out three unique value added services – doctor visits, emergency ambulance and medicine delivery, all to your doorstep. Also a rate of over 80% claims settled in one day is a testimony of the company’s commitment towards honouring every genuine claim which reiterates the company’s eminent position in health insurance while driving convenience and peace of mind for customers in an emergency medical situation. The diversity of Softlogic Life’s solutions provides the customer the freedom and opportunity to ‘live life to the fullest”. Softlogic Life was presented the ‘Innovation of the Year’ Award at the 19th Asia Insurance Awards – the only event of its kind in the region – for bringing revolutionary change to Sri Lanka’s insurance industry. Softlogic Life was also the recipient of the highest number of awards at the Insurance Industry awards held in India for ‘Excellence in Agency Distribution’, ‘Excellence in Growth’ and ‘Technology Innovation’ in 2016 and also the award for “Excellence in Claims Settlement” in 2017. Softlogic Life Insurance PLC, the fastest growing and most innovative life insurance brand in Sri Lanka, is a subsidiary of Softlogic Capital PLC. The Softlogic Group is considered as one of Sri Lanka’s most diverse and fastest-growing conglomerates, with interests in healthcare, retail, ICT, leisure, automobiles and financial services. Significant stakeholders in the company also include FMO and DEG, who are rated ‘AAA’ Development Financial Institutions from the Netherlands and Germany, respectively.About Dialog Axiata Group: Dialog Axiata Group, a subsidiary of Axiata Group Berhad (Axiata), operates Sri Lanka’s Leading Quad-Play Connectivity Provider. Dialog Axiata Plc, listed on the Colombo Stock Exchange, supplements its market leading position in the Mobile Telecommunications sector with a robust footprint and market presence in Sri Lanka’s Fixed Telecommunications and Digital Television markets through its fully owned subsidiaries Dialog Broadband Networks (Private) Ltd (DBN) and Dialog Television (Private) Ltd., (DTV). Dialog Axiata Group is Sri Lanka’s largest Foreign Direct Investor (FDI) with investments totalling over USD 2.1Billion. A winner of six Global Mobile Awards, Dialog has the distinction of being voted by Sri Lankan Consumers as the Telecom Service Provider of the Year for six years in succession at the SLIM-Nielsen People’s Choice Awards. Dialog was also voted by Sri Lankan consumers as the Internet Service Provider of the Year, and has topped Sri Lanka’s Corporate Accountability rankings for the past six years in succession and is an ISO 9001 certified company. The Company has received numerous local and international awards including the National Quality Award and Sri Lanka Business Excellence Award. Dialog has been at the forefront of innovation in the mobile industry in Sri Lanka since the late 90’s, propelling the nation’s mobile telephony infrastructure to a level of advancement on par with the developed world. The company delivers advanced mobile telephony and high speed mobile broadband services to a subscriber base in excess of 11.8 Million Sri Lankans, via 2.5G and 3G/3.5G and 4G networks. Photo caption: Mr. Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC and Mr. Ashok Pathirage, Chairman of Softlogic Group at the official launch of Per Day Life Insurance Plan

The cancer incidence reports suggest that of all cancer types, Sri Lankan females are most susceptible to breast cancer. The probability of development occurs in 1 for every 9 females in Sri Lanka. However, this does not mean that it is a disease affecting only women. Out of the 2300-2500 total cases reported last year, 110 were men. People with sedentary lifestyles and a family history of cancer are at higher risk of developing breast cancer. The rise in breast cancer is mainly due to a lack of awareness about the disease and its preventative measures. Dr. Shreen Willatgamuwa, Resident Family Physician at Durdans Executive Wellness Centre says, “Women should get themselves screened as early as 30 years, continuing till 60 years. If a family member has been diagnosed with breast cancer, they are advised to get themselves checked 10 years earlier than the age of onset of the family member. Perhaps the most important action family members can take is to encourage their loved ones to undergo breast cancer screening.” Breast screening usually consists of a physical examination, followed by either a breast ultrasound scan or a mammogram. A mammogram will be suitable for women above 40 years, while an ultrasound scan is for women below 40 years. Meanwhile, men should be aware of a breast cancer possibility and get a doctor’s opinion if any abnormality is detected. In addition, a genetic screening can be done to verify the risk of developing breast cancer in the event a family member has been diagnosed with breast cancer. Durdans Hospital’s comprehensive breast screening programme provides patients with individualized care for cancer prevention, detection and treatment. The Durdans Executive Wellness Centre offers breast cancer screening, genetic testing, breast cancer diagnosis and treatment with referral to the relevant specialists. Patients also receive regular follow-up and continuous care with the same doctor who will give the necessary advice and counselling. For appointments call 011 2 140 000 or the Durdans 1344 Helpline.

Advantis Engineering bagged the “Most Innovative Stall” Award at the National Construction Association of Sri Lanka’s (NCASL) Construct 2017 Awards ceremony held at Water’s Edge recently. The company received this award for the modular living vision of a “Smart Space” that it showcased at the Construct 2017 exhibition in August this year. Responding to the needs of the country’s blooming tourism sector, the Advantis Engineering team had modified a 40ft container into a compact chalet with a plunge pool on top. This eco-friendly solution has been designed with energy efficiency and portability in mind and can be rapidly deployed on clients’ properties with minimal impact to the environment. This is yet another unique living and working space solution developed by the company under its renowned CONVERTAINERS^® brand. A trendsetter in the container conversions industry, Advantis Engineering has the distinction of being the first Sri Lankan company to export locally converted containers to companies around the world under this brand. “At Advantis Engineering, we strive to reimagine the way in which living and working spaces are built in the country through smart, modern construction solutions that have prefabrication at their core. The ’Smart Space’ concept that we showcased at Construct 2017 is our vision of a compact, modular living space that is both eco-friendly and easily deployable. Being prefabricated, it does away with many of the cumbersome issues of traditional construction faced by property developers when trying to construct hotels and villas in idyllic, remote locations. We are delighted to see this concept being honored with the ‘Most Innovative Stall’ Award by the National Construction Association of Sri Lanka,” said Kamal Wimalaratne, Deputy General Manager, Advantis Engineering. He went on to add, “This is just one of the many container based, tailor made space solutions that we offer under our brand CONVERTAINERS^®. These products have won the trust of clients in Sri Lanka and around the world for the quality and convenience they offer. Fabricated at our state of the art manufacturing facility, these CONVERTAINERS^®help eliminate delays and other traditional construction related issues.” The event which is recognized as Sri Lanka’s pioneer construction exhibition was held this year for the 17^th consecutive year. ‘Construct 2017’ consisted of over 300 stalls and attracted a large number of local and foreign industry related experts. With its modern conceptualized stalls and innovative and effectual methodologies, the exhibition catered to the needs of a vast network of people from Sri Lanka and across the region. Advantis Engineering is a fully owned subsidiary of Sri Lanka’s most diversified transportation and logistics provider Hayleys Advantis Limited. Backed by the blue chip conglomerate Hayleys PLC, Advantis is at the forefront of the logistics industry offering end-to-end solutions for complex logistics requirements. It is committed towards being an innovator in the industry, setting the pace and shaping the logistics category. For further information about Advantis Engineering, please visit http://www.advantis.world/engineering Photo caption: (Above) Kamal Wimalaratne, Deputy General Manager of Advantis Engineering, accepting the award for Most Innovative Stall 2017 and (below) award winning 40ft Convertainer chalet with plunge pool developed by Advantis Engineering

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First ever ‘Passive House’ model factory building opened

Top Sri Lankan talent owns the stage at Fonterra Infinity Awards Night 2017

USAID joins business leaders and Sri Lanka government to launch ‘YouLead!’

Amãna Bank Lead Banking Partner for IFFSA 2017

Etihad Airways partners with Alibaba’s Tmall and Alitrip to launch five specially branded aircraft for the Tmall 11.11 Global Shopping Festival

HNB consolidates partnership with UnionPay International with new agreement on ATM acceptance

Softlogic Finance expands branch network with opening of 34th branch in Kotahena

Softlogic Life in Partnership with Dialog to disrupt the Insurance Landscape

Durdans Hospital encourages screening for Breast Cancer

Advantis Engineering lauded for Innovative Smart Space Solution at Construct 2017