Connect with us

Business

A ‘FASTFIX’ for COVID-19 related worries of daily wage earners

Published

on

St. Anthony’s Industries Group Executive Director Jeevan Gnanam (left) launches the new ‘FASTFIX’ app together with FASTFIX Head of Operations Krishantha Pathiraja(Pic by Kamal Bogoda)

By Hiran H.Senewiratne

Sri Lankan community is now getting used to deploying mobile apps to work from their respective homes following the Covid-19 outbreak. Therefore, this novel app which we are launching today should be made available island wide, Executive Director, St. Anthony’s Industries Group Jeevan Gnanam said.

“Daily wage earners had to face the largest financial struggle as they were one of the first groups to be affected when Covid-19 impacted the country. This new technology will provide those who have lost their jobs with a platform to find work and earn a living to cover their daily wages, Gnanam said at the launch of the device, “FASTFIX” app, last Friday in Colombo.

‘FASTFIX’ partnered with Anton, a fully owned subsidiary of St. Anthony’s Industries Group, to extend the services provided by the app. The app, offers a gateway to conveniently carry out plumbing related repairs and other chores. The app enables users to immediately locate the nearest service providers, contact the most suitable person for the requirement, and get the required services done according to their satisfaction.

Gnanam said this is Sri Lanka’s first app to facilitate easy home repairs from plumbing to electrical and is launched in a bid to connect end users with service providers.

He said more features are expected to be added to the app, including a feature to locate the nearest Anton product outlet which further assists the app’s users when searching for the required materials needed for repairs. These could be bought at a special rate when purchased through the app.

‘Depending on the quality of the services, workers can find constant work, thus enabling them to be fully occupied with work found through the FASTFIX app. In this way, the app contributes to a larger section of the society to step up and be financially stable.

‘The app has a feature to rate the services carried out by the workers which indeed is an opportunity for service providers to be recognized and encourages them to consistently provide a high-quality service. ‘FASTFIX’ app is currently in operation and is serving the Gampaha and Colombo districts for both consumers and service providers, and is available to download via Android Play Store, while an IOS version is to be launched in the coming few months, Gnanam added.

“We are extremely proud to launch the ‘FASTFIX’ app, which we believe would be a great convenience for home services related issues, should it be a plumbing issue, electric issue or any other repair, Head of Operations at FASTFIX Krishantha Pathiraja said.

Pathiraja said not all are experienced in everyday repairs and it is safer and more apt to hire a professional who has knowledge and experience to attend to this work. However, finding the right person for the right job is quite difficult at present and people often face issues when negotiating prices to get the job done.

‘No one thought that an app could assist with such a process, but now it is just at the tip of our fingers by downloading the ‘FASTFIX’ app and connecting to a professional to find solutions to household problems conveniently and cost-effectively, he added.

 



Business

DFCC Bank facilitates the continued growth of Sri Lankan SMEs amidst the COVID-19 pandemic

Published

on

The unprecedented surfacing of the COVID-19 pandemic has left a lasting scar on the global population and economy. With no precise warning on the horizon, businesses everywhere were thrown into the deep end, and survival seemed uncertain during the peak of the pandemic. In Sri Lanka, a nation where SMEs form the integral backbone of the economy, the ill effects have been taking a heavy toll on businesses both fiscally and mentally.

However, we as Sri Lankans are resilient at our core, and with the integral support of frontline workers, officials, and essential services such as our banking partners, we set forth on a journey to assess, adapt and survive. One such story about perseverance through a valuable relationship comes from K.S.K. Menan of Star Food Store (Pvt) Ltd, and his trusted banking partner, DFCC Bank.

Emerging from humble beginnings, Menan’s story is one that inspires patriotism, and reaffirms the importance of giving back to your motherland. As a self-made entrepreneur, Menan was successfully engaged with the departmental store industry in the United Kingdom, when one day, he decided to leave everything there and come back to his home, Sri Lanka. He was on a mission to give back to the country that had given him so much, and that led to the birth of ‘Star Food Store’ in Kokkuvil, a supermarket equipped with all the necessary household essentials. DFCC Bank had been by his side throughout the entire journey until the opening of his outlet, and even more when the COVID-19 pandemic struck.

“When Imoved back to Sri Lanka in 2016, the very first account I opened was with DFCC Bank, and with their support, I was able to open the first‘Star Food Store’ in November 2019. However, when COVID-19 struck, everything came to halt. When restrictions were relaxed, I faced multiple problems with bringing things back to how they were. DFCC Bank stepped in and gave me overdraft facilities, helped clear my cheques, and provided additional funds at a low interest rate”.

Today, Menan has been able to open a second Star Food Store outlet at Achchuveli in August 2020, and a third at Idaikkadu in February 2021. He states that expansion is the last thing most businesses consider during this turbulent time, however, the X factor that has allowed him to do this is his banking partner.

“The confidence an entrepreneur gains with the right banking partner is immeasurable, and I have been able to find that with DFCC Bank. They have always gone out of the way to ensure my venture’s continuity, from sending someone from the branch immediately if there is an issue with the card machine during business hours, or even understanding that loose change is important for a supermarket and sending bags of coins from the Colombo branch for business use. I now have plans of constructing a state-of-the-art shopping complex in Jaffna, and look forward to working with DFCC on this project”.

Continue Reading

Business

Covid-19 third wave fears dampen stock market

Published

on

By Hiran H.Senewiratne 

The CSE witnessed a steep decline following worries over the possible outbreak of a  Covid 19 third wave in the country and the continuation of selling pressure for certain stocks in the market, stock market analysts said.

CSE investors worried over 52 new cases being detected in two retail stores at Pamunuwa and at a state bank in Colombo at the end of the April holidays. Sri Lanka’s Health Ministry warned of a possible surge in COVID-19 cases in the coming weeks, market analysts said.

  Consequently, the All Share Price Index declined by 2.9 percent and S and P SL20 dropped by three percent. Major companies sought after by investors negatively contributed to both indices during the day. According to  market analysts,  these companies  were:  LOLC (27 negative points),  Expolanka (19 negative points), Vallibel One (12 negative points), Hayleys (11 negative points) and JKH (10 negative points).

All Share Price Index went down by 198.39 points and S and P SL20 down by 93.89 points. Turnover stood at Rs. 3.7 billion with a single crossing. The crossing was reported in Ceylon Cold Stores (CIS), which crossed 60000 shares to the tune of Rs. 35.4 million, its shares traded at Rs. 594. 

In the retail market, five companies that mainly contributed to the turnover were: Browns Investments Rs. 717.6 million (114 million shares traded), Expolanka Rs. 480 million (9.8 million shares traded), Hayleys Rs. 392 million (five million shares traded), Dipped Products Rs. 389 million (6.9 million shares traded) and LOLC Rs. 193 million (587,000 shares traded). During the day 197 million share volumes changed hands in 31305 transactions.  

Sri Lanka rupee quoted firmer around 192/194 levels to the US dollar in the spot market on Tuesday, while bond yields slightly eased, dealers said. Sri Lanka rupee last closed at 194/198 levels to the US dollar in the spot market on Monday. The Central Banks Telegraph Transfer rates stand at 187.93/191.97 levels below the spot rates on Monday.

Sri Lanka’s rupee has come under pressure amid money printing and low-interest rates, despite the worst import controls since the 1970s, observers said.

Continue Reading

Business

SAT launches F5 portfolio to deliver secure digital experiences

Published

on

(At left) : Edgar Dias, Regional Vice President of Channels and Partnerships, Asia Pacific, F5. (At right) : Sanjaya Padmaperuma, CEO of SAT.

South Asian Technologies (Pvt) Ltd, announces its appointment to be a distributor for F5 within Sri Lanka and Maldives to deliver secure digital experience to enterprises.

The cutting-edge technology is a portal for delivering applications and data with greater agility, security, availability, performance, and scalability.

F5’s portfolio of automation, security, performance, and insight capabilities empowers customers to create, secure, and operate adaptive applications that reduce costs, improve operations, and better protect users.

“With the increasing necessity for digitalisation in the workspace, now more than ever, organisations need proven solutions to help secure their businesses. Adding F5 to our existing portfolio gives South Asian Technologies, a more omniscient opportunity to equip our partners and customers with best-in-class application security and delivery solutions. As F5 enables adaptive applications, the SAT team is ecstatic at the prospect of securing our clientele with robust security offerings that have a proven history with Fortune 500 companies across the globe,” said Sanjaya Padmaperuma, CEO of SAT.

Every company today is in the digital experience business. In the wake of COVID-19, customer expectations are higher than ever, as the experiences garnered are the primary way that people interact and transact with just about every organisation at present.

F5 helps organisations deliver and secure the premium digital facilities that customers demand by enabling adaptive applications which, like living organisms, will naturally adapt based on their environment – growing, shrinking, defending, and healing themselves.

Continue Reading

Trending