CEAT Kelani Vice President Sales & Marketing Madhushanka Ranatunga (left) makes a symbolic presentation to Senior Deputy Inspector General of Police Deshabandu Tennakoon in the presence of CEAT Kelani Managing Director Ravi Dadlani
CEAT Kelani Holdings has reiterated its support to the battle against the spread of COVID-19 with a donation of 1,000 boxes of essential protective materials to the Sri Lanka Police and tyre dealers island wide.
Each box contains 100 disposable gloves, five reusable masks, and five bottles of hand sanitiser, all custom produced for CEAT and bearing the company’s name. The company presented 450 boxes intended for the use of police personnel to Senior Deputy Inspector General of Police Deshabandu Tennakoon recently. The balance 550 boxes are being distributed to tyre dealers for the use of members of staff that interact with customers.
Additionally, CEAT Kelani has provided tyre dealers with specially-designed floor stickers to aid organised social distancing at dealer outlets.
“The safety precautions necessitated by the global pandemic have to be strictly observed for many more months if the country is to effectively manage the situation,” CEAT Kelani Managing Director Mr Ravi Dadlani said. “We believe organisations must do everything in their power to facilitate this. Besides implementing all the mandated protocols in our own operations, we feel duty bound to support those at the frontlines, especially the police and our dealers to protect themselves and those they come into contact with.”
Earlier this year CEAT Kelani Holdings made a series of donations of equipment and consumables exceeding Rs 10 million in value to key state institutions at the forefront of the effort to combat COVID-19, the National Institute of Infectious Diseases, Ministry of Health, Sri Jayewardenepura General Hospital and its Postgraduate Medical Training Centre, Lady Ridgeway Hospital for Children, the Badulla General Hospital and the Sri Lanka Police.
In a separate donation, CEAT Kelani contributed Rs 2 million towards the cost of construction of a new 106-bed Army Hospital at Pallakele in Kandy.
Besides these donations, the company conceptualised and implemented a multi-pronged effort to improve safety and hygiene facilities for commuters as well as bus crews, to support lorry crews with personal safety kits and the sanitisation of lorries serving key market locations, and to help sustain workers at tyre dealerships around the country. Among the projects undertaken was the fitting of hand sanitiser units on 350 buses operating in the Colombo District for the use of passengers as they board. CEAT also undertook to supply hand sanitiser liquid for these buses for three months and to supply three months’ requirement of personal safety kits for bus drivers and conductors. Each kit comprised of six face masks, six pairs of gloves and personal hand sanitiser units.
CEAT Kelani Holdings is considered one of the most successful India – Sri Lanka joint ventures in the manufacturing sector. The joint venture’s cumulative investment in Sri Lanka to date totals Rs 8 billion, inclusive of Rs 3 billion committed in January 2018 for expansion of volumes, technology upgrades and new product development. The company’s manufacturing operations in Sri Lanka encompass pneumatic tyres in the radial (passenger cars, vans and SUVs), commercial (Bias-ply and radial), motorcycle, three-wheeler and agricultural vehicle segments.
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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