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Cinnamon Bey Beruwala, Plasticcycle & MEPA partner to preserve Beruwala beach

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Cinnamon Bey Beruwala together with the Marine Environmental Protection Authority (MEPA) and Plasticcycle – the social entrepreneurship project of John Keells Group, partnered under MEPA’s “Beach Caretaker” programme on November 27. The partnership committed to protect and preserve the Beruwala Beach adjoining the resort.

Sri Lanka’s coastline is rich in marine biodiversity, including exotic fish species and marine mammals such as sea turtles, that depend on the beaches and shoreline for breeding. However, these unique environments and habitats have been challenged by the accumulation of plastic waste by tourism activities and holiday goers.

Plasticcycle and Cinnamon Hotels & Resorts launched the first installment of the Beach Caretaker Project in Hikkaduwa in January 2020 at Hikka Tranz by Cinnamon.

The objective of the programme is to educate, create awareness and develop sustainable tourism through a series of long-term activities to preserve the beach. Activities include developing youth programmes such as “guided snorkeling” and community awareness programmes to develop more sustainable and professional business with minimum harm to the environment, while increasing awareness among visitors.

Speaking at the signing ceremony, Dr. Nalaka Godahewa, State Minister of Urban Development, Coast Conservation, Waste Disposal and Public Sanitation, stated that with the general public and private sector joining hands with MEPA, the common goal of protecting the coastline and be achieved, which would be a great service to society.

In addition to the beach clean-ups that are conducted by the staff volunteers of Cinnamon Bey on a regular basis, a series of dedicated plastic waste collection bins will also be placed adjacent to the resort to encourage all beach goers to responsibly dispose of their plastic waste.

The General Manager of Cinnamon Bey, Mike M. Jawad stated, “The John Keells Group’s ambitious and tenacious commitment towards environment and its protection, as well as collaborative support from MEPA, affirms Cinnamon Bey’s audacious goal to protect the coast, shoreline and reefs. We strive to protect the environment and improve the ocean’s ecosystem to aim at ensuring a toxin-free marine-life.”

Plasticcycle is a social entrepreneurship project of John Keells Holdings (PLC), Sri Lanka’s largest listed company in the Colombo Stock Exchange operating over 70 companies in 7 diverse industry sectors and in 2020 John Keells Group celebrates 150 years 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.

While being a full member of the World Economic Forum and a Member of the UN Global Compact, the Group drives its vision of “empowering the nation for tomorrow,” through the John Keells Foundation and through the social entrepreneurship initiative, ‘Plasticcycle’, is a catalyst in scientifically reducing plastic pollution in Sri Lanka.



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SLT-MOBITEL AkazaLMS enables corporate employee capability development

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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.

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LIOC shows stability in earnings and margins compared to volatility during previous years

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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.

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Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority

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From left: : Krishantha Pathiraja, Chairman at Palmyrah Development Board, Florian Manderschied, Head Maker at Hatch MakerStudio, Brindha Selvadurai, CEO and Co- Founder, Hatch, Eranga Basnayake, CEO and Chairman of Vocational Training Authority, Mahesh Ariyarathne, Vice Chairman of VTA

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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