Daraz, Sri Lanka’s largest online market place, has decided to hero the women of Sri Lanka, a little bit extra this Women’s Day. This International Women’s day, the world is embarking on a #ChoosetoChallenge campaign, aimed at inspiring a world that is more aware of the plight of women and therefore more inclined to change.
The International Women’s Day Missions for 2021 include celebrating women in tech and innovation, applauding equality for women in sport, educating women on health choice decisions, building inclusive workplaces so women can thrive, increasing visibility of women creatives and forging women’s empowerment worldwide.
As an online platform, Daraz has contributed greatly to celebrating women in tech and innovation. To further emphasize the contributions made by women, Daraz is creating a separate platform on the site on Women’s Day to uplift all women sellers. With over 800 women entrepreneurs selling more than 20,000 products ranging from electronics to groceries, clothes, fashion, accessories, cosmetics and toys, bags and a range of handmade products, Daraz is aiming at empowering the women of Sri Lanka. Over two million rupees’ worth of investment will be borne by Daraz and its women entrepreneurs on a free shipping promotion this Women’s Day.
By giving them a platform through which to showcase their innovation and creativity, Daraz is ensuring the increased visibility of Sri Lankan women’s creatives. By streamlining a platform to allow women to take the reins in their own lives, Daraz has shown their commitment to the welfare and development of opportunities for women, on a large scale. Speaking to Sheromi Priyadharshani, who after retirement from the army, was able to start focusing on her passion in making stuffed toys and handlooms, she said, “I am from a small town where there isn’t enough visibility for my products but thanks to Daraz, I am able to sell my products island-wide. I am thankful to Daraz for this opportunity.”
With specific focus on the mission of forging women’s empowerment, Daraz has already paved the way for numerous women, young and old who have utilized the online platform to sell their own products, passed down through generations or enable creative outlets for those no longer employed full-time. It is not an isolated incident designed specifically for Women’s Day. Daraz has facilitated the chance for numerous women across the country to make a name for themselves. By encouraging independence and self-sufficiency not only via their online marketplace but also through numerous educational and training schemes, Daraz aims at being a pillar of support to the women of Sri Lanka.
Nishadi Edirisinghe, the founder of Dreamy Collections adds, “I found out about Daraz when I was shopping online. Inspired by what I saw, I thought that I too could start my own business straight from the comfort of my own home. The online marketplace is increasingly more popular so after attending a workshop, I was able to set up my own business through Daraz. Any woman can easily set up their own business and sell via Daraz.”
Numerous other women sellers have been able to kick-start their careers from the comforts of their homes thanks to Daraz, who has encouraged them to take their futures into their own hands.
Conversing with Muditha Premarathne of Daraz, “We believe that women play an important role in the future of our country. Women sellers are important contributors to our platform and we would not be able to carry out our services successfully without them. By ensuring that our women sellers feel empowered and motivated to pursue their passions and dreams, we believe that we are contributing to the future of our country. These women deserve a spotlight on their efforts and by empowering them, we hope to encourage the entrepreneurs of tomorrow.”
Daraz is more than just a one-stop shop. They are investors in the future of Sri Lanka and in the sustainability of women-led businesses, which they believe go hand-in-hand. By supporting self-sufficiency of women and providing training schemes to assist them as they navigate the online marketplace, they have chosen to challenge themselves and the rest of the country, to take note of and empower women.
HIP sees highest monthly RORO volume in April
The Hambantota International Port has seen a significant increase in their RORO figures during the first four months of 2021, compared to the corresponding period last year with 193,690 vehicles coming into the port for transshipment as against 118,872 vehicles during the same period last year, an HIP news release said.
April transshipments at 62,736 vehicles marked the highest volume of RORO the port has handled in a month so far. The April figures have topped increased RORO volumes HIP experienced in December 2020 and January 2021, the release said.
The ports of loading of RORO cargo arriving for transshipment at HIP are Chennai, Mundra, Ennore in India and Gunsan and Pyeongtaek in South Korea while the main ports of discharge are Durban (SA), Veracruz (Mexico), San Antonio (US), Rotterdam (Netherlands) and Le Havere (France).
Some of the main shipping lines operating to and from HIP include NYK, MOL, Hyundai Glovis, Kline, ZIM, Hoegh, SEALS Japan, Eastern Car Carrier lines.
“While globally the export market still seems to be fluctuating, it is encouraging to see the Hambantota International Port being selected as the port of choice by the major shipping lines, and the numbers keep growing. We attribute this primarily to the efficiency, reliability, and high productivity of our Port. This is coupled together with the focus on safety and quality as per the global standards of CMPort,” says Tissa Wickramasinghe, COO of Hambantota International Port Group (HIPG).
The port’s operations are carried out under strict COVID-19 regulations stipulated by the government and port authorities.
The Supply Chain is as strong as its weakest link: The business case for Sustainable Supply Chains and Ethical Sourcing
The UN Global Compact Network Sri Lanka’s Working Group on Sustainable Supply Chain hosted its first webinar on April 29, 2021, titled “Transforming Supply Chain Sustainability through Ethical Sourcing”. This webinar brought together Supply Chain experts from Sri Lanka, Singapore and Spain, a news release connected to the event said.
The keynote address was given by the Chairman of Network Sri Lanka and CEO of Dilmah Tea, Dilhan C. Fernando. The esteemed panel members were Matt Kovac, Executive Director, Food Industry Asia (FIA – Singapore), Helena Orella Salinas, Sustainable Development Manager, Bolton Food (Spain), Sonali Peiris – Head of Sustainability, Enterprise Risk Management & Group Initiatives, John Keells Holdings (JKH). The Panel was moderated by Thamindri De Silva, General Manager, MJF Charitable Foundation and Steering Committee Member, UN Global Compact Network Sri Lanka
The release added:
“This session highlighted the importance of incorporating ethical sourcing practices into the sustainability of the supply chains in today’s fast-paced and dynamic business world. While the business case for making a shift is sound, it is imperative that companies create long-term strategies to incorporate environmental, social and corporate governance as a means of generating profit and holding themselves accountable for people and planet.
“Ethical sourcing symbolises company-wide efforts to meet industry standards and conforming with regulations, that should be considered as an opportunity to generate profit rather than a business expense. Consumers have become sensitised to the impact products have on the environment and human rights. Therefore, it is critical that companies create key partnerships with NGOs and international standard setting bodies to hold their company accountable and ensure their resources are sourced in a safe and sustainable manner.
“Technology plays an important role as it promotes transparency in the supply chain. As supply chains evolve over time and are exposed to external shocks, such as the COVID-19 pandemic, technology enables companies to use programmes that can access supplier frameworks remotely and provide assistance when necessary.
“As the Chairman of Network Sri Lanka and CEO of Dilmah Tea, Dilhan C. Fernando said, “Human actions have produced a situation that needs to change for the sake of future generations” pushing companies to make the shift towards ethical sourcing in their supply chains and leading to sustainability as a business strategy.”
The UN Global Compact is a special initiative of the UN Secretary-General, the Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption.
The Webinar can be viewed on YouTube: https://youtu.be/nHAep-d7Wgc
For more information, please follow @globalcompactnetworksrilanka on social media and visit our website at ungcsl.org
SLT Group Revenue recorded at Rs. 24.7 Bn in Q1 2021, Net Profit improved by 14%
Sri Lanka Telecom PLC (SLT) Group released its financial results for the first quarter of 2021, with a remarkable 14.3% year-on-year growth in Profit After Tax (PAT) to Rs. 2.1 Bn.
The Group revenue went up to Rs. 24.7 Bn for the period with a 11.4% year-on-year growth, strongly underpinned by the growth in revenues of FTTH, 4G LTE, mobile broadband services, PEOTV services and carrier domestic services. International voice revenue reflected a de-growth while international revenues from global transit and global data soared compared to the same period last year.
The EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of the Group improved to Rs. 9.7 Bn, a 13.6% year-on-year growth, lifting the EBITDA margin up to 39.4% from 38.6% in the same period last year. The surge in revenue largely contributed to the EBITDA growth. The growing capital expenditure in order to align with the global technological trends pushed the Depreciation and Amortisation of the Group up to Rs. 6.3 Bn, a 18.0% year-on-year increase.
The Operating Profit of the Group stood at Rs. 3.4 Bn, reflecting a 6.3% year-on-year growth resulting from the increase in Group EBITDA which was partly offset by the elevated Depreciation and Amortisation for the period. Interest expenses and finance cost charged to the Profit or Loss Statement increased to Rs. 0.8 Bn for the period under review while the FOREX losses declined to Rs. 0.3 Bn. The Profit Before Tax (PBT) rose to Rs. 2.8 Bn, up by 9.3% over the same period last year.
The growth in EBITDA coupled with the effective collection strategies of the Group almost tripled the Operating Cash Flow of the Group to Rs. 12.2 Bn for the period under review. Further, the Group managed to reduce the Long-Term Borrowings to Rs. 44.9 Bn as at the reporting date.
The holding company of the Group recorded an impressive 13.5% increase in revenue over the same period last year reaching Rs. 14.2 Bn. The PAT of the company went up to Rs. 1.4 Bn, reflecting a 16.2% year-on-year growth.
The mobile arm of the SLT Group, Mobitel (Pvt) Ltd too improved revenue for the quarter by 8.1% year-on-year to Rs. 11.6 Bn. The PAT of Mobitel soared during the period to Rs. 1.5 Bn which is a 65.4% year-on-year growth resulting from the increased revenue and the effective cost management measures.
The Group paid a total amount of Rs. 3.7 Bn as direct and indirect taxes including levies to the Government in the first quarter of 2021.
SLT Group Chairman, Mr. Rohan Fernando announced:
“I am extremely proud of my management team and my staff for delivering yet another solid quarter. Our business continued to accelerate in the first quarter with a double-digit growth in revenues and profits and with a robust operating cash flow. Consolidation of our Group Sales and Marketing under the SLT-MOBITEL unified branding contributed immensely in achieving the success we report in the first quarter. While uncertainty related to Covid-19 remains, we will stay focused on driving growth, building on favourable market trends, improving operational performance and delivering value for all our stakeholders.”
SLT Group Chief Executive Officer, Mr. Lalith Seneviratne remarked:
“Our first quarter financial performance represents a promising start to the year 2021. We commenced the year 2021 with the brand unification of SLT-MOBITEL which is another milestone in SLT Group’s legacy. The strategic journey of the SLT Group towards digital transformation has proven imperative with the present pandemic situation which has also demonstrated the critical role technology plays in everyday life. The Group remains resilient amidst the challenges posed by the Covid-19 pandemic owing to our robust business execution coupled with our attractive product portfolio.”
SLT Chief Executive Officer, Mr. Kiththi Perera stated:
“We are successfully progressing with our accelerated fibre expansion programme with an aim to provide ultra-speed Fibre-to-the-Home (FTTH) connections across the country. This year is pivotal to SLT since in mid-2021, SLT together with its mobile arm Mobitel aims at expanding and upgrading the present 4G network in view of providing an enhanced broadband experience and also to launch a pre-commercial 5G service using 3.5 GHz. In addition, SLT plans to invest in expanding its global network including the upcoming SEA-ME-WE 06 submarine cable system to connect to the world at the speed of Terra Bits per second. The domestic and global network expansions will be complimented by multiple digital initiatives in our efforts to continually improve customer experience and service levels.”
SLT Chief Operating Officer, Mr. Priyantha Fernandez commented:
“During this Covid-19 pandemic situation, SLT has provided an uninterrupted service to the nation and offered innovative yet affordable data packages to facilitate the shift towards work-from-home and study-from-home arrangements. Further, SLT in collaboration with Cisco and Millennium I.T.E.S.P. (Pvt) Ltd launched its new managed SD-WAN services to accelerate digitisation of enterprise and government customers in Sri Lanka. In addition, SLT-MOBITEL extended the PEO TV Go services to our mobile customers too to enjoy their favourite TV programmes.”
Mobitel Acting Chief Executive Officer, Mr. Chandika Vitharana added:
“As the world continues to go through a challenging era due to the ongoing pandemic, SLT-MOBITEL which provides an indispensable and critical service under the prevailing conditions was able to create value to all its stakeholders. As the National Mobile Service Provider, Mobitel, the mobile arm of the SLT Group is aggressively expanding the network to rural areas to ensure no one is left behind in these difficult and challenging times. Many initiatives were carried out during this period to make Broadband accessible to all. Affordable bundle device offers to help increase smartphone penetration, attractive application-based data plans, mobile and home broadband plans to facilitate work-from-home and learn-from-home conditions are a few of the initiatives devised to make Broadband affordable and accessible to all segments of the society according to their needs. While making broadband available to all, SLT-MOBITEL is committed to providing uninterrupted connectivity to the nation during these turbulent times.”
BASL calls for independent and impartial probe into killing of ’Uru Juwa’ & ’Kosgoda Tharaka’
Korean Ambassador meets with WFP Representative and Country Director
HIP sees highest monthly RORO volume in April
7-billion-rupee diamond heist; Madush splls the beans before being shot
The Burghers of Ceylon/Sri Lanka- Reminiscences and Anecdotes
Unfit, unprofessional, fat Sri Lankans
Sports7 days ago
Mickey not willing to make exceptions for Malinga
Features4 days ago
Save the Last Dance for me
news7 days ago
Genocide Bill against Sri Lanka passed in Canada
Features6 days ago
‘Why are Arts graduates unemployable?’
Features6 days ago
Ban on agrochemicals:Where are we heading?
Features7 days ago
Sinophobia and China’s development model: Part 1
Sports6 days ago
KJP and Dimuth different styles, contrasting leaders
news6 days ago
South Korea boosts SL economy with USD 500 million low interest loan