DentsuGrant and ISOBAR Sri Lanka shine at Campaign Asia’s ‘Agency of the Year’ awards
Cementing its credentials as the leading agency in Sri Lanka, DentsuGrant Group walked away with not one, but two coveted Campaign Asia’s Agency of the Year awards recently. DentsuGrant was crowned Rest of South Asia Media Agency of the Year – Bronze, in recognition of being one of the very best agencies specialising in media management; while its digital arm, ISOBAR Sri Lanka, won the Rest of South Asia Digital Agency of the Year – Bronze, award for providing the best digital solutions. Since the early 1990s, Campaign Asia’s Agency of the Year awards have been recognizing and rewarding inspiring leadership, management excellence, outstanding business performance, and overall achievements in advertising and brand communications. It is the only programme of its kind to honour agency excellence at both local and regional levels, with results tabulated independently by PwC Singapore.
As the digital arm of the premier advertising agency in Sri Lanka, ISOBAR Sri Lanka is at the forefront of the digital revolution. The agency believes in transforming businesses, brands and people’s lives with the creative use of digital. Isobar Sri Lanka provides a variety of critical digital services to its client portfolio, including media planning and buying, technology and innovation, emerging media, and performance, with a focus on gaming and the metaverse.In the past, the agency has bagged the following: Campaign Agency of the Year ROSA 2019; Silver for Digital Agency of the Year; Shortlist for Campaign AOY ROSA 2020; Digital Agency of the Year.
Chamith Buthgumwa – Vice President, ISOBAR said, “Within three years of operating in Sri Lanka, this is our second Agency of the Year metal. Throughout last year, it was critical for us to maintain our focus on innovation and creativity. Why would we cut back on it when our clients are in the most desperate need of it? This win is a tribute to our ability to produce modern, unforgettable work on a daily basis. “
Media is morphing at a breakneck pace, enabling never-before opportunities to meaningfully engage with our consumers. Dentsu’s track record of staying ahead of the curve, creating truly sustainable value is how it has become a trusted partner that connects a brand with the consumer and enhances and grows that experience.
CSE expected to maintain growth momentum in the wake of brighter IMF bailout hopes
By Hiran H.Senewiratne
The CSE will be able to maintain its growth momentum with IMF bailout prospects brightening this week. Consequently, foreign inflows to the CSE will improve in the future, Head-Market Development, CSE, Niroshan Wijesundara said.
“To date the CSE has been able to register a 14 per cent growth and with the IMF bailout approval we could expect more foreign inflows into the market, Wijesundera told the Island Financial Review.
Amidst these developments the market ended on a positive note at the end of yesterday. Initially there were mild profit- takings but this did not negatively impact the overall performance of the market.
Accordingly, shares edged up in mid-day trade yesterday while investors adopted a wait- and -see approach as the country looked forward to IMF approval on the Extended Fund Facility towards the end of this week.
“Investors are on a wait- and- see approach as the IMF is likely to approve the US$ 2.9 billion dollar loan, market analysts said.
“Selling pressures have eased and now buying sentiments are improving, analysts said.
The ASPI went up by 29.54 points, while the most liquid S&P SL20 index rose by 15.7 points. Turnover stood at Rs 1.8 billion with three crossings. Those crossings were reported in Hemas Holdings, which crossed three million shares to the tune of Rs 199 million, its shares were quoted at Rs 65, Hayleys 738,000 shares crossed for Rs 59.8 million, its shares traded at Rs 31 and JKH 290,000 shares crossed for Rs 42 million, and its shares fetched Rs 141.
In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 209 million (30.8 million shares traded), JKH Rs 84.6 million (584,000 shares traded), Access Engineering Rs 79.5 million (4.9 million shares traded), LOLC Finance Rs 75.4 million (10.9 million shares traded), Union Bank Rs 62.9 million (6.7 million shares traded), Expolanka Holdings Rs 60 million (420,000 shares traded) and SLT Rs 57.5 million (687,000 shares traded). During the day 98.7 million share volumes changed hands in 20000 transactions.
Top gainers during mid- hours were Commercial Bank, Browns Investment and Access Engineering. Access Engineering is an unusual top contributor and this is because interest had been generated in it after assurances had been given on the IMF deal and there is an assumption that multilateral projects are likely to begin with the IMF restructuring process coming to a close, market analysts said.
Sri Lanka’s growth will be contained at a negative 3 per cent in 2023 after a 12.4 per cent shrinkage in the fourth quarter of 2022 and is expected to turn positive from next year, State Minister of Finance Ranjith Siyambalapitiya said. Siyambalapitiya told reporters on March 18 that Sri Lanka can expect a “positive economy” in 2024.
Yesterday the rupee opened stronger and was quoted at around Rs 330/338 to the US dollar, stronger from Friday’s close of Rs 337/345 to the US dollar, dealers said.
“Surfing Through the Crisis”
EY Sri Lanka, is scheduled to host a discussion ‘Debt Restructuring Implications to the Financial Services Sector’, on March 22, from 08:45 am to 12:30 pm at The Kingsbury Colombo. The session branching under the theme, ‘Surfing through the Crisis’, is designed specifically for CEOs, CFOs, and CRO of the financial sector, as well as the chairpersons of the Audit Committee and the Board Integrated Risk Management Committee. The event hopes to create value for Sri Lanka’s financial sector amidst the prevailing economic challenges. As the largest service providers to the financial sector in terms of audits, tax, consultancy, and strategy & transaction, EY Sri Lanka feels compelled to assist the financial sector as they navigate the challenges of the economic crisis.
Despite the expected positive outcomes of debt restructuring, the process itself can be painful for the country, financial institutions, debtors and creditors. To the financial services sector specifically it could bring several challenges to capital management, financial reporting, Credit Risk and Liquidity Risk management strategies.
This session will explore these implications, under two technical segments, from Risk Management and Accounting lenses, and the mechanisms required for an effective transition. From a Risk Management perspective there will be several simulations on how it affects the financial institution’s capital and profitability whilst the accounting perspective will include discussions relating to how the debt restructuring process shall be accounted for in line with SLFRS 9 Financial Instruments.
The event will be conducted by Manil Jayesinghe, Country Managing Partner of EY Sri Lanka and Maldives, and Rajith Perera, Partner Financial Accounting Advisory Services EY Sri Lanka. To register for the session, or for further inquiries please contact Nurani Rajapaksha (Nurani.Rajapaksha@lk.ey.com)
Participants of Raid Amazones 2023 arrive from Paris on SriLankan Airlines
The participants of the adventure trail ‘Raid Amazones 2023’ arrived at Bandaranaike International Airport on SriLankan Airlines’ flight UL 564 from Paris. SriLankan Airlines is the Presenting Partner of Raid Amazones and extended a warm welcome with a traditional flare to the arriving group.
The group boarded the Udarata Menike train from the Gampaha Railway Station shortly thereafter for a scenic journey to Kandy, where the trail will unfold from 22 – 28 March.
Raid Amazones is the world’s only itinerant women’s adventure race. Nearly 250 female athletes will be participating in the 21st edition of the trail in Kandy.
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