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ComBank offers Credit Card holders auto bill settlement with leading utilities

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Automated utility bill payments with no intervention by customers has brought about a new dimension in convenience for ComBank credit card holders by offering them an option to automatically settle their monthly bills to the country’s most-widely used utilities.

The latest addition to this convenient, hassle-free bill payment facility is the settlement of Mobitel and Water Board bills.

With travel restrictions and safety concerns due to the pandemic, ComBank credit card holders need not go outside to settle their monthly utility bills. The Bank said that its credit card holders can now enrol to Dialog, Ceylon Electricity Board (CEB), Mobitel and the National Water Supply & Drainage Board (NWSDB) to settle bills automatically every month via a designated Credit Card.

Further, registration for Automatic Bill Settlement has been simplified, with credit card users being given the option enter their credit card details via the Bank’s website, accept terms and conditions and register, eliminating the need to visit the bank.

“This is the perfect solution for the times we are in because once a customer registers for the service and links his or her utility accounts to the system, each month’s bill will be paid on time, with no further action required from the customer,” Commercial Bank’s Deputy General Manager – Marketing Hasrath Munasinghe said.

“It is a highly secure and precise form of automated digital payment and we will continue to add more utilities, insurance and mobile bill payment in the future”, he assured.

Commercial Bank customers can register their Visa, Mastercard, or UnionPay credit cards for the ‘Auto Bill Pay’ facility. It enables them to easily manage all their utility payments through a single Commercial Bank Credit Card at any given time, and helps them to adopt digital payment habits. After successful registration for the service, each utility or any other entity will present the customer’s monthly bill amount to the bank and bank will authorise the payment on behalf of credit card holder and send the receipt of payment to the customer via e-mail or SMS.

Besides ensuring that bills are settled on time without any involvement from the customer, the Auto Bill Pay facility prevents accumulation of arrears due to unpaid bills, saves customers from delinquency fees and prevents disconnection of utility services due to delayed payments. Furthermore, customers can earn Max Loyalty Rewards points that can be redeemed later on at many reputed merchant outlets island-wide.

Apart from this unique facility, ComBank credit card holders get many other benefits, including Year-round promotions offering attractive discounts covering a wide variety of products and services. Commercial Bank was the first bank to offer loyalty rewards for both credit and debit Card holders under its Max Loyalty Rewards Points scheme.



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CDS signs up with Lanka IOC to act as Registrar

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The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed a service agreement with Lanka IOC PLC as the registrar for Lanka IOC PLC, with effect from 01st of January 2023. Lanka IOC PLC, with a corporate history spanning 20 years, is the only private sector auto fuel retailer in Sri Lanka. Over the years, the company has made a significant impact on the socio-economic landscape by enabling mobility, economic activity, and development. With an island-wide footprint of 213 retail outlets, the company services 12% of the country’s retail fuel demand.

Reasoning on appointing CDS, as the Registrar for Lanka IOC PLC, its’ Managing Director, Manoj Gupta, said, “we engaged CDS to conduct our virtual annual general meetings during the period of COVID 19 pandemic where all listed companies were not in a position to convene any physical meeting as it was most essential to maintain social distance. We found the services rendered to us by CDS were highly satisfactory. Thus, we are happy to appoint CDS as the Registrars of the company.” “CDS has provided the service of handling the dividend payments to shareholders consecutively for the last
three years and carried out the functions in a very good manner, coordinating well with the bankers and shareholders,” added the Company Secretary of Lanka IOC PLC, Ms. Amali Liyanapatabendi

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SLT-MOBITEL honoured at Asian Technology Excellence Awards 2022

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Reiterating its leadership in innovative broadband deployment solutions, SLT-MOBITEL, the National ICT Solutions Provider was honoured with the prestigious ‘Technology Excellence Award for Network and Broadband – Telecommunications’ at The Asian Technology Excellence Awards 2022. The recognition is in appreciation of SLTMOBITEL’s innovative use of LTE 850MHz broadband solution which provides extensive coverage to rural areas of the country.

Understanding the need to provide superior rural connectivity to support the nation’s ongoing digital transformation and bridgingn the digital divide, SLT-MOBITEL’s innovative LTE 850MHz network strategically combined the underutilized spectrum from obsolete CDMA fixed line operations and forfeited its resources to obtain a new noninterfered 5MHz band for 4G LTE deployment from The
Telecommunication Regulatory Commission of Sri Lanka (TRCSL). This enabled, SLT-MOBITEL to significantly enhance rural connectivity across Sri Lanka, empowering every Sri Lankan to avail the benefit of SLT-MOBITEL’s Sub1GHz 850MHz LTE network especially during Covid-19 travel restrictions where broadband had become a necessity for everyone. In addition, SLTMOBITEL’s LTE 850MHz solution recovered valuable national spectrum resources which was interfered and exhausted earlier. With the coverage enhancement the mobile arm was able to connect an additional 700,000 subscribers who did not have access to broadband services earlier. With the LTE 850MHz deployment, SLT-MOBITEL was able to further bolster its support during COVID-19, providing rural communities especially the school children, people who worked from home and national authorities to immediately respond to Covid-19 emergency situations, thereby narrowing Sri Lanka’s digital divide

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Lingering debt-restructuring worries trigger share market volatility

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By Hiran H.Senewiratne

CSE trading was characterized by a marked degree of volatility yesterday. The CSE started trading on a positive note but by mid-day the market had turned negative, only to register some recovery during the latter part of the day. But the recovery could not be fully sustained, market analysts said. Market volatility could be traced to the worry among traders that the Chinese government is yet to respond
positively to the Sri Lankan government’s debt restructuring plan, although the Chinese Exim Bank responded positively to the IMF bailout proposition, analysts said. Stock market mid- day shares fell on
profit- taking after the market had continuously been on green after debt restructuring assurances by major creditors, an analyst said. “However, the anticipated rate cut wasn’t met and the
market over- reacted and moved to red, the analyst added.

Amid those developments both indices indicated a downward trend.The All- Share Price Index went down by 11.5 points and S and P SL20 declined by 2.78 points. Turnover stood at Rs 1.2 billion with two crossings. Those crossings were reported in Melstacorp, where 594,000 shares crossed to the tune of Rs 29.7 million, its shares traded at Rs 50 and Horana Plantations 300,000 shares crossed for Rs 21 million, and its shares traded at Rs 70. In the retail market, top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 269 million (1.3 million shares traded),Softlogic Life Insurance Rs 147 million (1.3 million shares traded), Softlogic Capital Rs 122 million (eight million shares traded), LOLC Holdings Rs 71.9 million (158,000 shares traded), Expolanka Holdings Rs 54.4 million (289,000 shares traded), Browns Investments Rs 41.9 million (six million shares traded) and JKH Rs 41 million (298,000 shares traded). It is said that high net worth and institutional
investor participation was noted in Agstar, Melstacorp and JKH. Mixed interest was observed in Lanka IOC, Expolanka Holdings and LOLC Holdings, while retail interest was noted in LOLC Finance, Browns Investments and Softlogic Capital.

The Materials sector was the top contributor to the market turnover (due to Agstar), while the sector index gained 0.18 per cent. The share price of Agstar increased by 50 cents (3.23 per cent) to
close at Rs.16. The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), while the sector index increased by 2.16 per cent. The share price of LOLC Holdings appreciated by Rs. 21.75 (5.11 per cent) to close at Rs. 447.25. During the day 41 million share volumes changed hands in 14000 transactions.

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