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Dettol selected as official hygiene partner for LPLT20 2021/22

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Sri Lanka Cricket has chosen Dettol to be the official hygiene partner for the 2021/22 edition of the Lanka Premier League (LPLT20) Twenty20 tournament. The annual league was inaugurated in 2018 and the inaugural edition was played in 2020 and won by the Jaffna Stallions team. A global leader in antiseptics and disinfectants, Dettol is a brand of the globally renowned consumer goods conglomerate Reckitt. Dettol has an extensive portfolio of products including soap, handwash, sanitizers, surface cleaners and other personal and homecare products.

This partnership will help bring all sports fans across the country together in a safe and hygienic environment. Dettol is well reputed among the people of the country and is known as a brand which offers all-round care and protection. This partnership emphasizes the need to strictly adhere to the health guidelines during the ongoing second edition of the LPL in order to ensure it is successful.

Shaminda Perera, Head of Marketing – Reckitt Benckiser Lanka Limited shared his thoughts on this “This is truly a momentous occasion for us, to have been chosen as the official hygiene partner for the LPLT20 tournament. As the number one antiseptic brand, we look forward to extending our full support to future sports events as well.”

One of the key determining factors of the success of LPL is the enjoyment of the spectators and the players. This partnership will ensure that all the fans and the players alike will be able to do so in a safe and hygienic manner.

Cricket has long been one of Sri Lanka’s favourite pastimes, and given the current pandemic conditions, ensuring the safety of the players, officials and spectators alike is of paramount importance. For this reason, the tournament and all ground activities related to it, will be conducted under strict health and safety guidelines and protocols.

The organisers of LPL have put together an elite medical team to oversee the safety of everyone involved. In order to carry out this task successfully, the medical team needs the best possible backing, and Dettol is the most trusted brand when it comes to ensuring peoples’ safety.

Chathurika Fonseka, Product Group Manager, Hygiene Category – Reckitt Benckiser Lanka Limited said “We are beyond grateful to the SLC and LPLT20 officials for choosing us as the official hygiene partner for the ongoing LPLT20 tournament. We have placed over 20 handwashing stations for spectators at all entrances of the pavilions, we have also placed disinfection units containing both personal disinfection as well as surface disinfection products for use at strategic locations such as; the players’ lounge, dugouts, commentary box as well as selected public viewing areas. In addition, Dettol has supplied all umpires with personal wipes and personal sanitizers throughout the tournament.”

The selection of Dettol as the official hygiene partner for the LPLT20 tournament adds a certain reassurance as its product range is very well known and is widely regarded as a leader in the hygiene category both locally and globally.



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Business

Seven factors of concern at upcoming Monetary Policy Review

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by Sanath Nanayakkare

The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.

In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.

* Foreign Reserves USD 3.1 billion – Dec 2021

* Inflation CCPI 12.1% – Dec 2021

* GDP Growth -1.5% – 3Q2021

* Private Credit LKR 60.5 billion – Nov 2021

* 03M T-Bill rate 8.38% as at 12.01.22

Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion

Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21

First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.

“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.

As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.

First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.

However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.

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Sri Lanka’s dash brand enters international markets

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Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.

Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,

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Janaka Abeysinghe appointed SLT CEO

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Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.

The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.

Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.

In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.

He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.

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