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The National Body for Marketing in Sri Lanka (SLIM) together with the Sri Lanka Inventors Commission (SLIC) launched the ‘Made in Sri Lanka’ platform to bring about recognition to Sri Lankan inventors, which was launched recently at Gangarama. “Made in Sri Lanka” is an initiative aimed to assist and encourage inventors to come forward to exhibit their inventions and products, and provide guidance to inventors as to how to better commercialize and market their inventions to prospective investors. The pearl of the Indian Ocean is enriched with jewels that are unfortunately hidden with no opportunity to shine. With Sri Lankans showcasing their skills globally, ranging from acting to entrepreneurship and athletics to engineering, there is no doubt about the skills they possess. Time and time again they have proved their abilities to both the country and the world. Sri Lankans are innovative and creative and have the ability to generate novel concepts and unique inventions that would benefit both the country and world. While they have the capabilities, they lack the capacity, in terms of finance, opportunities and marketing knowledge that is needed in order to generate an income through their inventions. Hence, they face many hardships in commercializing their products or converting them into viable businesses. SLIM in collaboration with SLIC has stepped up to help these inventors achieve their dreams. The ‘Made in Sri Lanka’ initiative was launched with the intention of recognizing Sri Lankan talent and paving the way for Lankan inventors to convert their creations to successful businesses that would generate profits. This marketing-oriented platform further provides guidance to inventors on how to successfully communicate with investors and make their products more appealing to them through knowledge driven workshops. The event was held with the participation of about 100 inventors. In addition to the launch, the inventors were granted an opportunity to exhibit and demonstrate their inventions and a workshop on marketing knowledge will be organized to support them. During this workshop the inventors will be given guidance in relation to commercializing the product, marketing the product and reaching out to investors. The COVID-19 pandemic created a platform to bring forward the talented local inventors to showcase their creations regardless of the barriers and challenges they would have faced by the debacle caused by COVID-19. While adhering to social distancing rules, the target audience from around the country gathered at one destination at the launch of ‘Made in Sri Lanka’ to guide them on a clear path of work. Speaking at the event Prof. Rangika Halwatura, Commissioner – SLIC stated, “On a daily basis Sri Lanka witnesses many people who innovate and come up with new products. But commercializing those inventions are at a very minimal level in the country, which tends to continuously discourage these inventors. So our intention is to help add value to those inventions and make these investors into entrepreneurs, or create a platform for investors and inventors to meet, commercialise their products and carry them into local and international markets. We believe that this initiative would allow Sri Lankan inventors to gain the much needed recognition and pave the way for them to become successful entrepreneurs one day. SLIM is the national body that represents the marketing and business fraternity in Sri Lanka. Thus the collaboration of SLIM and SLIC in trying to give an opportunity to Sri Lankan inventors would definitely be a success story with many happy endings for our inventors”. Roshan Fernando, President of SLIM said, “The National Body for Marketing- SLIM has always been in the forefront in promoting the future marketers of Sri Lanka through recognition, motivation and appreciation. As a sub-project under the ‘Restart Sri Lanka’ initiative SLIM also spearheaded and shouldered the responsibility to encourage and assist investors by creating a market-oriented invention platform to support successful entrepreneurship. In addition to taking every opportunity to build marketing platforms for Sri Lankans, SLIM did not hesitate to join this venture to help the local skills and talents of the country. This initiative founded along with SLIC, would be the cornerstone in building a hub for our talented local inventors to reach out in commercialising their products to both local and international investors. During these troubled times, SLIM proudly takes this opportunity to give hope and provide a platform for local inventors to shine while also aiding to restart Sri Lanka”.   L to R: Mr. N.N.W Dolawatta- Director- SLIC, Mr. Roshan Fernando – President- SLIM, Porf. Rangika Halwatura- Commissioner- SLIC , Dr. Sanath Hettige – Assistant Commissioner-SLIC, Mr. Sachith Karunarathna- Manager Marketing- SLIM

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Use of drugs by school children in both urban and rural areas of Sri Lanka has been a significant concern for well over a decade particularly because it is a sensitive age where such use can lead to long-term addictions and resulting health and social issues. Many children who have engaged in drug use were found to have dropped out of school. Drug-use behaviours in children and youth are also found to adversely affect cognitive skills, family and other relationships and livelihoods. While people who use drugs typically begin doing so during adolescence or young adulthood, ample research in psychology, human development and other fields has shown that the ground may be prepared for drug use much earlier, by circumstances and events that affect the child during the first 5-8 years of life. Accordingly, intervening early in childhood can significantly alter their life course in a positive direction. It is also believed that by equipping teachers and parents with a proper understanding of the risks and dangers of drugs and a physical environment to support drug prevention, the probability of children engaging in drug-user behaviours can be minimised. This is the context in which John Keells Foundation, the CSR entity of the John Keells Group, piloted its Substance Abuse Prevention Awareness Programme on 31st July 2020 at the Auditorium of the Divisional Secretariat in Hikkaduwa. The inaugural session was conducted for 39 targetted participants comprising Pre-school teachers from five Grama Niladhari (GN) divisions of Hikkaduwa and Government Officials from the Divisional Secretariat, Hikkaduwa, Grama Niladhari of the respective GN Divisions, representatives from Southern Province Education Department and Police Officers from Hikkaduwa Police Station. The initiative was conducted as part of John Keells Praja Shakthi initiative in Hikkaduwa in partnership with Hikka Tranz by Cinnamon and technical partner, Humedica Lanka. Speaking at the inauguration, Ms. Carmeline Jayasuriya, Head of Operations, John Keells Foundation stated “Out of the six focus areas of John Keells Foundation, this programme falls within the Health focus area through which we seek to foster healthy communities towards enhancing their holistic wellbeing and productivity. Considering that substance abuse has become a growing menace is Sri Lanka and the positive impact that early childhood interventions can have in preventing causes that lead to drug use and other addictions later in life, this session, which is one of the many, will support in understanding how you, as a teacher, parent or caregiver could intervene very early in an child’s life and thereby prevent substance use and a range of other related behavioural problems. JKF is also in discussion with National Dangerous Drugs Control Board and other parties to identify sustainable initiatives towards mitigating substance abuse especially among school children. We are deeply appreciative of the unstinted support of the Divisional Secretary, Hikkaduwa and her officials for this initiative.” Addressing the gathering, Dr. Prithiviraj, CEO, Humedica Lanka stated that “Pre-school teachers and parents play an important role in a child’s development and we need to work together if we want to create a future free of substance abuse and addiction.” The interactive session focused on empowering teachers and Government officials with relevant knowledge, tools and skills to observe and communicate how addiction affects child development and how to address substance abuse prevention from a young age. A pre-school teacher who participated at this programme stated, “This session was truly empowering because we were enlightened on the importance of cognitive development of a child, especially at a young age and what we, as pre-school teachers can practically do to prevent addiction starting from a young age.” John Keells Foundation’s Health focus also includes long-term initiatives under John Keells Vision Project addressing vision impairment among cataract patients and school children hitherto benefitting over 27,500 persons, combatting gender based violence and child abuse through awareness creation among employees, strategic groups and general public via Project WAVE (Working Against Violence through Education) impacting over 334,600 and John Keells HIV & AIDS Awareness Campaign impacting 130,900 persons. John Keells Foundation is the CSR entity of John Keells Holdings PLC (JKH), Sri Lanka’s largest listed company in the Colombo Stock Exchange operating over 70 companies in 7 diverse industry sectors. In 2020, the John Keells Group celebrates 150 years of being in business and contributing to the Sri Lankan economy and development of the country. JKH provides employment to over 14,000 persons and has been ranked as Sri Lanka’s ‘Most Respected Entity’ for the last 14 Years by LMD Magazine. Whilst being a full member of the World Economic Forum and a Participant of the UN Global Compact, JKH drives its CSR vision of “Empowering the Nation for Tomorrow” through John Keells Foundation and through the social entrepreneurship initiative, ‘Plasticcycle’, which is a catalyst in significantly reducing plastic pollution in Sri Lanka.

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Ceylinco Life has become the first life insurer in Sri Lanka to implement the SAP S/4 HANA Investment and Finance Module for Enterprise Resource Planning (ERP) to enhance returns earned for its policyholders while reducing risk. SAP integrated investment management module allows Ceylinco Life to manage its diverse investments in a seamless and efficient manner, while cutting down on repetitive and manual operations, the Company said. The system provides a holistic view of overall portfolio positions, performance and risk exposures, providing management with timely and relevant insights to fine-tune investment strategy swiftly while managing risks proactively. It also integrates the Company’s investment management system with its custodian Standard Chartered Bank. The integration of the investment management system with Standard Chartered Bank has enabled straight-through-processing (STP) of deal settlements and position reconciliation which proved invaluable during the recent lockdown, enabling unabated and uninterrupted investment transactions without the need for wet signatures or delivery of physical documents, Sri Lanka’s life insurance frontrunner said. “Our 17 consecutive years of market leadership is built on being the thought, process and product leader in the life insurance sector of Sri Lanka, and this latest development helps us to better serve our policyholders by reassuring them that their premiums are invested and managed in an optimum manner to meet their financial protection and retirement planning needs,” Ceylinco Life Managing Director Mr Thushara Ranasinghe said. The SAP S/4 HANA Finance Module essentially enables smoother and efficient accounting processes and facilitates efficient management decisions. Some of its benefits include seamless integration of the SAP General Ledger with other systems including the core insurance system and the Financial Asset Management Module (FAM) which enables on-demand reporting of the financial results of the company with improved accuracy and efficiency; simplification of regulatory reporting and insurance fund reporting; assistance with accurate investments in insurance funds; efficient management of inventory and fixed assets; generation of accurate and cost efficient information; and enhanced visibility and control in the supplier management process. The implementation of the module has also resulted in a reduction of usage of paper, complementing the ‘Go Green’ concept of Ceylinco Life to reduce the Company’s carbon footprint. Ceylinco Life said the changing regulatory, economic and competitive landscapes, along with increases in business volumes and complexity necessitated a shift to a state-of-the-art integrated solution such as SAP. SAP S/4 HANA is a full in-memory solution and provides a higher speed of processing power, dashboards and analytical capabilities. Another key feature that warranted the shift is that it enables the Company to build and manage a single platform of information. SAP stands for Systems Analysis Program Development. SAP Societas Europaea (SAP SE) is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, it has regional offices in 130 countries, over 440,000 customers in 180 countries, and more than 21,000 partner companies, globally. Sri Lanka’s leading life insurer for more than half of the 32 years it has been in existence, Ceylinco Life was ranked the Most Valuable Life Insurance Brand in Sri Lanka by Brand Finance this year and declared the ‘Peoples Life Insurance Service Provider of the Year’ for the 14^th consecutive year at the 2020 SLIM-Nielsen Peoples Awards. The Company was ranked among the 10 ‘Most Admired Companies’ in the country by the International Chamber of Commerce, Sri Lanka in 2019 and in the same year was named the Best Life Insurer in Sri Lanka for the sixth consecutive year by World Finance, and ranked sixth overall in the Business Today ranking of the country’s top 30 companies. Ceylinco Life has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance sector for innovation, product research and development, customer service, professional development and corporate social responsibility.

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Swadeshi Industrial Works PLC at Kandana, Sri Lanka’s foremost and pioneering herbal-personal care product manufacturer recently engaged in a sanitization program involving 16 schools in Kandana. This endeavor was supported by the Kandana police and Ja-Ela Pradeshiya Sabha. With Covid-19 outbreak the Sri Lankan government decided to close down schools and educational institutions in the island for a period of over three months. The government decided to reopen these places in July 2020. Swadeshi came forward to support this move by sanitizing schools and educational institutes in Ja-Ela and Kandana vicinity which provided a safe and healthy environment for students. Swadeshi Industries provided sanitizing liquid needed for this purpose to Kandana police station and installed hand-washing sinks in these places and also at main railway stations in the island including Kandana and Ja-Ela railway stations. A spokeswoman for Swadeshi company said, “Swadeshi being a socially responsible company is dedicated to nurture a healthy generation of children in the country and we do various programs throughout the year to support this. Reopening process of schools and educational institutes in the island needed sanitization to go hand-in-hand. Swadeshi came forward to do the needful. We are dedicated to provide an infection-free environment to students. We would continue with this sanitizing program in future”. The Swadeshi Industrial Works PLC regularly does social development and children’s’ welfare programs throughout the island. Facilitating programs to provide drinking water in rural areas covering schools, Pirivenas and villages is part and parcel with this CSR. The company also bestows knowledge to villagers on nurturing a generation of children with good values. ‘Swadeshi Khomba Aloka Puja Sathkaraya’ is the program done by Swadeshi company to illuminate the premises of Temples in the country in annual religious festivals. Swadeshi has maintained its position for over eight decades as the specialist of the soap and the undisputed leader in herbal soap in Sri Lanka. “At a pandemic situation like this, we would like to explain the natural disinfecting quality of age-old Khomba herbal soap with the trust of 80 years. People should not use unknown artificial disinfects that are harmful for the human body. Khomba herbal soap can be used by people with confidence”, further said the spokesperson In the coronavirus pandemic situation Swadeshi has launched a hand sanitizer with kohomba as an extension of its Khomba herbal soap used for generations in Sri Lanka. The ingredient kohomba/margosa/neem is well-known for its quality of natural protection against germs. The Khomba herbal hand sanitizer with kohomba, lemongrass and aloe vera introduced to the market by Swadeshi in this turbulent period is gaining popularity among consumers. This hand sanitizer is authorized by the National Medicines Regulatory Authority (NMRA). A 50 ml bottle is sold at an affordable price of Rs. 250/-  and it is safe on hands. Recently, The Swadeshi Industrial Works PLC launched a campaign on the steps and briefing of good habits on washing hands with soap under the theme of “Swadeshi Khomba Baby Hoda Purudu” Among the pioneer brands of this 100 per cent Sri Lankan owned company are; Khomba, Khomba Baby, Pearl white, Rani Sandalwood, Safeplus, Lak Bar, Lady, Black Eagle and the kids range, “Little Princess”. “Swadeshi is a company that looks forward to uplift the status of the society by providing quality herbal products. We are a one hundred percent Sri Lankan company thus we are determined to engage in CSR programs to help society. We came forward to help the society as a socially responsible company”, she said. The pioneer and market leader in the herbal personal care category in Sri Lanka, Swadeshi Industrial Works PLC, was commissioned in 1941. From 1941 for 80long years Swadeshi Company had been very careful in selecting raw material in its product manufacturing processes. Swadeshi products are one hundred percent free from animal ingredients. Also they are never tested on animals. State-of-the-art machinery and modern technology used by the company adhering to triple bottom line has earned the company ISO 9001-2008 international standard certification.

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Uber has relaunched its on-trip 24×7 Safety Helpline in Sri Lanka to ensure the safety of riders and to provide them greater peace of mind. Riders can access the helpline at any time during a trip and directly speak to a member of the trained safety team. Initially launched in February earlier this year, its operation had to be temporarily suspended due to the Covid-19 pandemic and curfew. But now after ensuring all quality control checks, it has been reactivated so that Uber can constantly solicit rider feedback. The Safety Helpline can be accessed in case of an urgent or non-emergency issue. For example, to report a dispute with a driver, a car break-down or other such issues. At the tap of a button, riders can immediately connect with Uber’s Sri Lanka-based safety experts, who’re available 24×7. How this works: The 24X7 Uber Safety Helpline is available under the safety toolkit banner on the Uber app. Step 1: Rider needs to contact Uber to report a non-emergency safety incident and taps the shield icon on home screen Step 2: Tap the safety helpline icon Step 3: Swipe to speak to an Uber representative Commenting on the relaunch Pavan Vaish, Head of Central Operations, South Asia, said, “Safety is our biggest priority at Uber and we constantly evaluate our measures to raise the bar by integrating the feedback we receive from our riders. The 24X7 Safety Helpline was launched in February this year, based on consistent customer feedback. It’s live in Sri Lanka and can be accessed by riders at any time of the day or night, should they need urgent assistance during a trip. This additional level of security reiterates our commitment to doing everything we can to help keep everyone safer on our platform.”  The safety helpline support number is not a replacement for 119, but it is a helpful way for riders and drivers to get urgent support. In case of an emergency, Uber encourages riders to use the SOS button or the national emergency line (119) in the event of a safety-related incident. The Uber safety team is dedicated to work around the clock to ensure safer, more reliable and comfortable rides for its riders.

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BID2WIN bidding competition organized by zMessenger in collaboration with HUTCH was concluded recently with an awards ceremony that rewarded the winners of several promotions conducted this year. Ashane Imantha Gunesena from Kaduwela emerged as the winner of Wagon R Car Promotion which was held from 1st Feb to 31st March 2020 while P. A. J. Gamini Perera from Maspotha won the Honda Dio Bike Promotion which was held from 1^st of July to 20^th July 2020. BID2WIN is a highly popular competition among the mobile subscribers, which enables them to win great prizes by bidding through SMS. All they need to do is bid for the lowest unique bid value and the winner will receive the allocated prize. What makes this game very interesting and exciting is that new prizes such as mobile phones, motor bikes, cars and many more are being introduced regularly. The organizers of the game update the start and end of each competition, the prize that is up for grab and also the winners of each competition through SMS or via broadcast media. As a leading mobile service provider in the country, HUTCH continues to support innovative promotions to keep the customers engaged while offering more opportunities to make their lives better. With the completion of its “Bigger and Better” 4G network, it has been a truly remarkable journey and HUTCH is happy to continue to reward its loyal customers. Photo caption: From left – zMessenger Senior Product Manager Eranda Sanjeewa,  Winner, Honda Dio Bike Promo -Gamini Perera from Maspotha, Winner, Wagon R Car Promo Ashane Imantha Gunesena from Kaduwela, HUTCH VAS Manager Madreek Naotunna, HUTCH VAS Assistant Manager,  Kasun Jayasooriya.  

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• 51,135 eligible graduates
• Details of those who failed to qualify available online

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Reflecting that manufacturing activities are gradually approaching the pre-COVID levels with the normalization of business activities, the Manufacturing PMI continued to expand in July 2020 recording 64.6 mainly due to the expansion in New Orders and Production sub-indices. The New Orders and Production sub-indices expanded, yet at a slower rate, benefitting from new orders received in July 2020. Meanwhile, Employment remained expanded in line with these developments. The Stock of purchases expanded at a higher rate due to intended accumulation of stocks for future productions, anticipating higher demand with the normalization of economic activities. The Suppliers’ Delivery Time continued to lengthen, at a slower pace, during the period. Respondents highlighted that the restrictions imposed on importation of certain categories of goods adversely affected some manufacturing activities. The overall expectations for manufacturing activities for the next three months improved, yet the manufacturers are still concerned that the subdued external demand due to the COVID-19 pandemic would continue to exert pressure on their business activities. Meanwhile, Services sector continued to expand for the second consecutive month with PMI reaching 51.4 in July 2020. This was underpinned by the expansions observed in New Businesses, Business Activities and Expectations for Activity compared to June 2020 indicating a further recovery in the services sector, which was affected by COVID-19 pandemic. New Businesses, particularly in financial services and insurance subsectors, improved in July 2020 with the gradual recovery in economic activities. Business Activities in most of the sub sectors expanded during the month indicating a broad-based recovery in service activities. With the rise in financial facilities granted, business activities in financial services sub-sector improved in July 2020 compared to the previous month. Further, accommodation, food and beverage sub-sector also recorded an improvement over the last month in line with the improvements in domestic tourism. Moreover, business activities related to wholesale and retail trade, health services and telecommunication sub-sectors also increased during the month. However, respondents, particularly in cargo handling and import trade, were concerned about restrictions imposed on non-essential items. Employment continued to decline in July 2020 for the sixth consecutive month owing to halt in new recruitments. Further, Backlogs of Work declined in July 2020 since most of the firms are operating under usual working environment.

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COVID-19 has sparked a worldwide shift in today’s education structure. As countries work hard to mitigate the impact of the pandemic, teachers and EdTech (Education Technology) entrepreneurs across Sri Lanka are bracing themselves for the ‘new normal’ in education. From the good old e-learning courses to digital communication, EdTech has evolved at an unprecedented rate. And people are wholeheartedly embracing this new model of education in every facet of life. In such a context, Ada Derana Biz spoke with Chaminda Silva, Managing Director of Yara Technologies—the company behind the fully integrated EdTech Ecosystem, ‘Talkative Parents’. Here is an excerpt of his interview where he speaks about the great value proposition and unique features which Talkative Parents offer schools, pre-schools and other educational institutes.   Q: What problem is your EdTech platform solving? A: With a ‘new normal’ emerging due to Covid-19, Schools are moving into blended learning with a significant technology overlay. We believe that technology-led enablers need to be geared to assist educators in teaching seamlessly and not the other way around.  From a student/ parents perspective, such platforms need to be more inclusive in terms of being easy-to-use, accessible even with a low-cost smart device and be efficient in data consumption. The gap of not having a unified integrated EdTech Platform, which brings together school communication, e-learning, document management and school fee payments, leads to inefficiencies and creates an admin burden for the educators. What this means is that teachers who are not tech-savvy enough, have to learn, use and check multiple platforms.  Furthermore, many of today’s schools are faced with challenges in effectively communicating with parents due to the lack of a formal school communication channel. This pain point is further magnified by the usage of fragmented, unreliable channels such as social media, email, traditional paper-based communication and one-way SMS.   Q: What is the value proposition of your EdTech platform “Talkative Parents”?  A: The primary problem we are addressing is fragmented communication channels between teachers, parents and students. ‘Talkative Parents’ has been able to successfully connect schools, teachers, parents and students via our integrated platform. The platform facilitates controlled two- way communication between school and parents, a virtual classroom for e-learning and school fee payments via the app. Further, teachers are burdened by the requirement to access multiple platforms to conduct e-learning in what has become a day-to-day activity in the current avatar.  We believe in enabling teachers with a simple easy-to-use technology solution, that minimises the barrier for teachers to use e-learning technology and help focus more on their core strength which is educating students. Talkative Parents allows teachers to address the problem by facilitating digital engagement with parents and students – i.e. assigning/ grading homework, conducting video/ audio conferencing classrooms and interactive learning sessions via a unified, easy-to-use portal. Naturally, the platform adds value to the education ecosystem specifically in developing nations such as Sri Lanka, given its ease-of-use, accessibility even with a low-cost mobile device, low data consumption and alignment to the requirements of educators in this part of the world.   Q: What are the key features and use cases of Talkative Parents? A: Our ecosystem is multi-faceted and at the same time, fully integrated. The cross-communication platform includes app messaging, SMS and email connecting the key stakeholders – the school, teachers, students and parents. The app messages are delivered in real-time with push alerts ensuring timely communication. The platform facilitates multi-language communication, making it increasingly inclusive for schools with curriculums in different languages. A robust onboarding process restricts access to the app only to registered parents of the school. The app’s digital calendar gives parents access to school events, examination timetables and school fee payments dates etc. All of this can be synchronised with the parent’s mobile calendar. Furthermore, the integrated EdTech platform includes a video/ audio conferencing feature to facilitate virtual classrooms along with the ability to assign and grade homework, conduct exams and interactive teaching methods.   Q: What sort of reception have you received for the product so far from local schools? A: The platform has been subscribed by some of the top private schools and pre-schools in Sri Lanka, including Bishop’s College and S. Thomas’ Preparatory School.  Currently, we have over 6,000 users on the platform.   Q: What are your future plans for the company as well as the platform? A: We have adapted to the changing needs of the education ecosystem during these times. Naturally, this has led to facilitating e-learning as a critical function for schools. As a result, we believe we are well-positioned to build on the blended learning model that would add value to schools in the future. The multi-faceted platform is helping schools make this transition seamlessly. In the next stage, we plan to leverage on the full potency of Artificial Intelligence and Machine Learning to derive insight into student performance management and reporting, to assist schools in analysing their data as required and come up with customised solutions while continuing to ensure complete privacy. The data analytics solutions would, in real-time, adapt to the students learning style to help students focus on areas of improvement, in the most appropriate format to maximise learning potential.   Q: Could you give us a little background about the company?  A: Yara Technologies (Pvt) Ltd [“Yara”] operates the ‘Talkative Parents’ EdTech solution. We are committed to continuous Research & Development to enhance service delivery in the education technology sector in Sri Lanka. We act as a technology enabler to facilitate inclusive and quality education for all at an affordable cost across Sri Lanka. This is in line with the United Nations Sustainable Goal on education. The shareholders of Yara Technologies (Pvt) Ltd. are senior professionals and business leaders from top multinational companies. Furthermore, Yara is a member of the Google Cloud-Partner Program.

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• Pandemic concessions affect income
• Net interest income & Net fee and commission reduce by Rs 2.130 billion
• Impairment charges grow by 67.56% – up by Rs 3.735 billion
• Capital gains and exchange profits increase by Rs 6.744 billion

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Atlas Axillia Co. (Private) Limited, Sri Lanka’s largest and most respected manufacturer and marketer of stationery and school supply products, plays an integral role in the learning journeys of over 4 million kids in Sri Lanka. As a result of this deeply intertwined relationship with the children of Sri Lanka, Atlas has entered into a partnership with the Ministry of Education to promote health and safety as they go back to school in the midst of the COVID-19 global pandemic. The Company has launched various initiatives, in partnership with the Ministry, to educate kids about hygiene & safety practices to protect against COVID-19 and to instil good health practices amongst kids to maintain a safe learning environment in the post-COVID-19 future. These initiatives include Atlas-sponsored television commercials by the Ministry of Education with regard to health safety in educational environments, a COVID-19 safety booklet which is to be distributed to students and an engaging game called Atlas Suru Viru, an online game and app that interactively teaches kids the right habits for health and safety and how to make good hygiene a part of their lifestyle. Together, these initiatives will draw attention to the need for the right measures to effectively prevent COVID-19 and help create a safer environment for all students. Discussing the initiatives, N. H. M. Chithrananda – Secretary to the Ministry of Education said, “A sound education is critical to the lives of children, both for the present and the future. Therefore, getting them back to school is our top priority. However, as we all know, we are now living in a ‘new normal’ environment with COVID-19 and we need to help students quickly adapt. It’s very easy for diseases to spread at schools if the right preventive measures are not taken, including proper awareness about safety protocols. We have launched several safety initiatives in order to make sure that the school system is well-equipped and compliant with such measures and we are grateful that Atlas, Sri Lanka’s most reputed stationary company, has come onboard to support our efforts. We are confident that, with the right awareness and habits, we can minimize risks and our children can resume their educations safely.” Speaking about the partnership with the Ministry of Education, Asitha Samaraweera – Managing Director at Atlas Axillia Co. said, “For over 60 years, we have striven to provide all Sri Lankans with world class products for learning and work. As a result, nearly every student in Sri Lanka has, at some point, used an Atlas product. Therefore, in an atmosphere of a global pandemic and national health crisis, it’s nothing but our duty to our future leaders and the nation to help create an environment that is safe and conducive to learning. By following the guidelines and precautions laid down by the health authorities and the Ministry of Education, we can create a low risk environment that inspires and keeps learning fun, while allowing students to safely continue with their education. At Atlas, we are honoured to be a part of such an important initiative in partnership with the Ministry of Education. Throughout this crisis, we have supported our communities and we will continue to do so in the future.” Atlas has been involved in numerous other initiatives to support the nation during this health crisis including designing and deploying AGV robots as Remote Medical Assistants, converting an entire production line to produce facemasks to support the Sri Lanka Armed Forces, ensuring production and distribution of hand sanitizers to its own staff internally and externally, making available essential paper tissue hygiene products for public access and spearheading an initiative to build an innovative, economical and easily produced and deployed medical ventilator for COVID-19 patients. Atlas Axillia Co. (Private) Limited, formerly known as Ceylon Pencil Company (Private) Limited, was founded in 1959 and has since grown to become Sri Lanka’s market leader in school stationery manufacturing. Fuelled by a passion for providing school children with essential tools for success, “Atlas” has created a strong connection with Sri Lankan consumers, being voted the No. 1 School Supply Brand of the year 2020 at the People’s Choice Awards and having recently won many national and international awards for excellence, including the National Quality Award 2018 and the Global Performance Excellence Award 2019.   Photo Caption – Atlas has partnered with the Ministry of Education to get kids back to school safely by sponsoring an island-wide health safety awareness campaign as Sri Lanka’s schools reopen amidst the COVID-19 pandemic. Asitha Samaraweera – Managing Director at Atlas Axillia Co. ceremonially handed over a copy of the safety booklet, which is a core part of the campaign, to N. H. M. Chithrananda  – Secretary to the Ministry of Education, officially marking the partnership. Pictured from left to right Nadeeka Jayasinghe, Senior Manager – Corporate Relationship Management, Renuka Peiris, Director of Education, Dias Dharmasena, Additional Secretary of School Affairs. 

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Expenditure on motor vehicle imports declined considerably by 80.9% while import of home appliances declined led by refrigerators and televisions during the month mainly due to the import restriction measures taken by the government and the Central Bank since March 2020,  the Central Bank said in its latest report. According to the CBSL, the declining trend observed in expenditure on merchandise imports from December 2019 to May 2020, reversed in June 2020, although a decline of 24.6% was recorded on a year-on-year basis. In June 2020, expenditure on merchandise imports stood at US $ 1,055 million. Expenditure on all major import sectors declined on a year-on-year basis in June 2020, with intermediate and investment goods imports declining the most. This broad-based decline is attributable to the measures taken by the government and the Central Bank since March 2020 to restrict the importation of selected goods to mitigate the adverse effects created by the COVID-19 pandemic and also to the steep decline in expenditure on fuel imports. Expenditure on intermediate goods contributed the most to the decline in import expenditure. Import of fuel in June 2020 declined significantly compared to June 2019 as a result of the decline in expenditure on refined and crude oil. This decline in expenditure stemmed from both the reduction in volumes imported and the lower prices of fuel in the international market. The average import price of crude oil declined to US $ 38.35 per barrel in June 2020, compared to US $ 67.29 a year ago. Expenditure on imports of textile and textile articles declined significantly in June 2020 led by lower imports of fabric and yarn. However, import expenditure on fertiliser (mainly urea), mineral products (mainly cement clinker), unmanufactured tobacco and agricultural inputs (mainly animal fodder) increased during the month compared to June 2019. Expenditure on investment goods declined notably with the decline of all sub categories of investment goods in June 2020. Accordingly, expenditure on machinery and equipment (mainly medical and laboratory equipment), building material (mainly articles of iron and steel) and transport equipment (mainly commercial vehicles such as tankers and bowsers) declined in June 2020, compared with June 2019. However, expenditure on machinery and equipment parts and cement increased during the period under review. Although expenditure on food and beverages increased, expenditure on consumer goods declined, due to the decline in expenditure on non-food consumer goods imports. However, expenditure on medical and pharmaceuticals and telecommunication devices (mainly mobile phones) imports increased in June 2020. Meanwhile, import expenditure on food and beverages increased, led by import of seafood (mainly dry fish), dairy products (mainly milk powder), vegetables (mainly lentils), fats and oils (mainly coconut oil) and spices (mainly chillies and coriander seeds). Both the import volume index and the unit value index declined by 13.2% and 13.1%, respectively, in June 2020, indicating that the decrease in imports was driven both by lower volumes and lower prices when compared to June 2019.  

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LONDON (Reuters) – British retailer Marks & Spencer said on Tuesday it plans to cut a further 7,000 jobs, dealing the latest blow to the country’s beleaguered retail sector from the COVID-19 crisis. M&S said last month it would shed 950 jobs as part of a store management revamp. Its latest round of redundancies will impact its central support centre, regional management and UK stores over the next three months. The cuts add to thousands already announced by other major British retailers, including Boots, John Lewis [JLPLC.UL], Dixons Carphone and WH Smith. M&S said it expected a significant proportion of the latest cuts would be through voluntary departures and early retirement. “These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs and we are committed to supporting colleagues through this time,” said Chief Executive Steve Rowe. M&S said group sales were down 19.2% year-on-year in the 19 weeks to Aug. 20, which included part of Britain’s lockdown period, with clothing and home sales down 49.1% and food sales down 1.1%. In the latter eight weeks of the period clothing and home sales were down 29.9%, while food sales were up 2.5%.

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Softlogic Capital PLC yesterday (17) announced that the board of the directors of the company has resolved on 14 August 2020 to issue Rs.289,027,200 ordinary shares by way of Rights issue to the shareholders of the company in the proportion of 21 new shares for every 50 existing ordinary shares held as the date of allotment at a consideration of Rs.3.50 per share. The Proceeds from the Rights issue will be used for the purpose of investing in Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC, the company stated in a stock exchange filing. The current stated capital of the company is Rupees Two Billion Eight Hundred and Eighty Million (Rs.2, 880,000,000.00).

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Colombo Dockyard PLC (CDPLC) is moving towards executing an already signed contract with Misje Eco Bulk AS (Misje) a Norwegian company, to build six (6) firm plus four (4) optional Eco Bulk Carriers. The contracts were signed on 14 March 2020 but is scheduled to come in to effect only in the month of September 2020 with Owners’ final board approval. Misje Eco Bulk AS is a fully-owned subsidiary of KåreMisje& Co., a family-owned Norwegian company, which holds a group of companies that provides a complete package of services from chartering and operation to technical and financial management.  “These 89.95m long vessels are designed to hold a cargo capacity of 5000 DWT. The type of cargo they could carry includes bulk cargo, grain, timber, unit loads, and containers. Each vessel is powered by 4 stroke diesel engine with an Electric Hybrid system supplying additional power through a Battery system,” Dockyard stated. “These vessels are developed as eco-friendly vessels, as they have lower emissions compared to conventional Bulk Carriers of the same size. The concept and the basic design of the innovative Bulk Carriers are developed by Wartsila Ship Design Norway AS and the detailed designing will be carried out by CDPLC.” The first vessel of the series is scheduled to be delivered in 18 months and the subsequent vessels will be delivered in 4 months intervals. “Amidst the negative impacts from last year’s Easter Sunday incident and currently facing the COVID-19 pandemic, it showcases the successful marketing efforts carried out by CDPLC in a challenging environment. CDPLC has been targeting the European market extensively, especially for the construction of Eco-friendly Bulkers, Cable Laying and Repairing Vessels, Service Operation Vessels, etc… which are in demand and CDPLC is extremely confident of serving these emerging requirements in Europe with the capacity and experience CDPLC has gathered over the past four and half decades of shipbuilding expertise.” In addition, this illustrates the CDPLC’s reputation internationally, of being one of the most competitive and dynamic shipbuilding and ship repairing facility in the South Asia region. CDPLC has a 35% shareholding by the Sri Lankan Government institutions and as the leader of Shipbuilding Industry in Sri Lanka, CDPLC continuously proves its excellence through successful securing and execution of shipbuilding projects worldwide and is one of the front runners of Sri Lankan industrialization. Image: 5000DWT Bulk Carrier

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