Arpico Insurance PLC, recently introduced a specialised insurance policy for CoVid19 – ARPICO COVIDCARE – further solidifying the Company’s commitment to provide ‘Insurance for the Living’ as envisioned by Company founder and Group Chairman of Richard Peiris – Dr. Sena Yaddehige.
Under this specialized policy, three distinct policy options will be availed to suit the customers’ requirements & budget. Some of the benefits offered via this insurance cover include up to Rs. 1,500,000 in the event of death due to CoVid19 or accident, daily hospitalization benefit up to Rs. 5,000 per day for quarantine in a Government approved facility, reimbursement of ICU medical costs of up to Rs. 200,000 due to CoVid19, reimbursement of up to Rs. 5,000 for CoVid19 vaccination as well as funeral expenses up to Rs. 50,000 for death due to CoVid 19 or accident.
Commenting at the launch of ARPICO COVIDCARE, Dr. Sena Yaddehige mentioned that Arpico Insurance PLC is one of the first Insurance providers in both Sri Lanka and in the region to have promptly responded with a creative solution to the raging pandemic: “This is very much in line with our corporate philosophy of providing ‘Insurance for the Living’. We have designed this policy to include maximum benefits for a reasonable premium which also aligns with our commitment to making insurance accessible to all citizens without exception.”
“We noticed a void as well as a need in the market for a specialized plan as what is already available is not designed specifically to cater to a pandemic outbreak, such as what we are currently experiencing”, he said.
Creating a new product in a short span of time, under challenging circumstances, is no easy feat and credit goes out to our exceptionally talented team at Arpico Insurance PLC for rising to the occasion as always,” he added.
SLT-MOBITEL AkazaLMS enables corporate employee capability development
As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.
Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.
Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.
LIOC shows stability in earnings and margins compared to volatility during previous years
First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.
“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.
“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”
“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.
Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority
The next generation of Sri Lanka’s industry workforce is currently studying at Technical and Vocational Education and Training institutes (TVET) all over the country. Since the manufacturing technology is under permanent development, the requirements for TVET graduates have also evolved. In order to address the industry’s needs for skilled and competent workers, the Vocational Training Authority and Hatch MakerStudio have joined forces to pilot an innovative apprenticeship programme.
The apprenticeship programme is designed for students in the field of mechatronics, robotics, automation and CNC-technologies and is focusing on the upskill, entrepreneurial mindset and problem solving capabilities. Together with industry partners, the selected apprentices will undergo a one month training programme at Hatch MakerStudio before being placed in the companies. The programme comprises of:
Product development training
Software and rapid prototyping training
Problem solving and design thinking exercises
During the course of the apprenticeship, Hatch MakerStudio will provide supervision and support for both the apprentices and companies, in order to ensure effective skills development and utilization of working power. Students with their own specific product ideas and business models can choose Hatch MakerStudio as their place of apprenticeship.
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