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DFCC Bank partners Havelock City to finance commercial development.

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DFCC Bank PLC entered into a Rs 9 billion revolving financing arrangement for the Havelock City commercial development, comprising a 50 storey office tower and a 200,000 square feet international standard shopping mall. Havelock City (Private) Limited is a BOI registered company which is a fully owner entity of Overseas Realty (Ceylon) PLC, the owner, manager and developer of the iconic World Trade Center Colombo.

DFCC Bank continues to support strategic investments of economic importance. Havelock City is the largest mixed development project, built on 18 acres of prime land in Sri Lanka. The project will act as a catalyst towards the growth of the corporate and retail real estate landscape in the country. DFCC Bank has been in the forefront of structuring large scale financing transactions in the private and public sector space and this transaction clearly reflects the continued confidence placed by the bank in the company’s strong credit story.

DFCC Bank Director and CEO Lakshman Silva commented, “DFCC Bank continues to be a dominant force in the banking sector and this transaction further stands testament to the ability we have in closing large transactions and manifests our strong and continued commitment to support in navigating the current financial uncertainties and challenges posed”

DFCC Bank Senior Vice President and Head of Corporate Banking Shamindra Marcelline stated, “This is another significant achievement by the bank. We are proud of our long standing partnership with Havelock City and the Overseas Reality Group, undoubtedly the largest Corporate Real Estate developer and operator in the country. We have clearly demonstrated our ability to remain nimble and responsive to our client needs”

About the Bank: DFCC Bank is a full-service commercial bank with a legacy of 65 years as one of Sri Lanka’s foremost financial conglomerates offers a gamut of commercial and development banking services. The bank was ranked amongst Business Today’s Top 30 Corporates in Sri Lanka and was also positioned amongst Brand Finance’s Top 100 Most Valuable Brands, 2020.  DFCC Bank is rated A+ (lka) Stable by Fitch Ratings Lanka Limited. 

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Wurth Lanka makes strategic appointments in pursuit of Vision 2025

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Wurth Lanka (Pvt) Ltd – the leading German based automotive car care partner recently promoted two of its long two standing employees Suranga Kekulawalage and Tharindu Rajapaksha to lead its Automotive Division and Automotive New Business Unit respectively as it focuses on achieving the Wurth Vision 2025. Established in the year 2000, the Automotive division is Wurth Lanka’s first, largest and most profitable business unit recording the highest YoY growth.

“As we celebrate our 20th anniversary of being the No. 1 trusted partner for the automotive aftermarket sector, we take great pleasure in appointing Suranga and Tharindu to lead these two dynamic divisions of Wurth Lanka to achieve our ambitious Vision 2025 targets ” said Rohan Amirthiah-Chief Executive Officer/Managing Director, Wurth Lanka (Pvt) Ltd.

“A key factor of our success in the past 20 years is the trust and confidence that we placed in our leaders and their respective teams to take the company forward to achieve our goals. We are confident that these two leaders will lead Wurth to our Vision 2025 goals” he added.

Suranga Kekulawalage joined With Lanka 14 years ago in in 2006 as a Trainee Sales Representative and rapidly progressed in his career having been promoted as Sales Consultant in 2010, Area Sales Manager in 2013 and Area Sales Manager-Key Accounts & Special Projects in 2017. He won the SLIM NASCO Award for the “Best Territory Manager” in 2015. Suranga holds an MBA from Cardiff Metropolitan University, UK (ICBT Campus) and completed his M. Sc in Strategic Marketing from the Asia e-University in 2014. He holds the title of “Certified Professional Marketer” awarded by Asia Marketing Federation and Sri Lanka Institute of Marketing (SLIM). He has also completed Wurth Group’s “Learn to Lead” programme for Young Managers.

Tharindu Rajapaksha has over 15 years of experience at Wurth Lanka and started his career in 2005 as a Sales Representative. He was promoted as a Sales Executive and thereafter as a Sales Consultant. He then progressed to a Sales Consultant, Area Sales Supervisor and Area Sales Manager. He has been responsible for product marketing for the past several years and has successfully launched many new product categories. A winner of the Wurth Silver and Gold pins for his dedication and performance, Tharindu has been a winner of the Wurth 110% Club for many years. He has also participated in many of Wurth’s International Training Programmes while completing Wurth’s Learn to Lead programme for Young Managers.

 

 

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Dipped Products’ share price surges

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By Hiran H.Senewiratne

The share price of Dipped Products in the CSE surged following the  world’s largest maker of latex gloves  shutting more than half of its factories after almost 2,500 employees tested positive for the coronavirus yesterday, market analysts said.

Malaysian based  “Top Glove” will close down 28 plants in phases as it seeks to control the outbreak, authorities said. Therefore, Dipped Products’ share price moved up by 5.4 percent or Rs. 16.90 at the end of yesterday’s trading, stock market analysts said. Its shares became the most sought after stocks among investors and its shares started trading at Rs. 314.10 and at the end of the trading it shot up to Rs. 331.

Amid those developments CSE activities were positive because two major listed companies have announced their annual dividend payment for their shareholders. Those companies were Kelani Tyres, which announced its interim dividend of Rs. 5 per share and Melstacorp’s  Rs. 2.50 per share. These two announcements  gave some impetus to the CSE yesterday, stock market analysts said.

At the end of the day both indices moved upwards. The All Share Price Index went up by 54.13 points and S and P SL20 by 18.88 points. The turnover stood at Rs. 2.5 billion with four crossings. Those crossings were reported in Lion Brewery, where 243,000 shares crossed for Rs. 127.7 million, its share price traded at Rs. 525, Dipped Products 289,000 shares crossed for Rs. 94 million, its share price traded at Rs. 330, JKH 400,000 shares crossed for Rs. 68.7 million, per share value being Rs. 146.80 and Distilleries 100 million shares crossed for Rs. 20 million; its share price trading at Rs. 20.

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Dialog Axiata’s Genie partners Eat Me Global to facilitate customers with secure e-payments

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In light of the health and safety mandates given by government health authorities to minimise the public’s exposure to COVID-19, Genie, Sri Lanka’s first PCI-DSS-certified payment app, powered by Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, recently facilitated grocery and food delivery platform Eat Me Global with a seamless solution for quick and secure online payments.

Partnering over 150 restaurants and supermarkets, Eat Me Global enables customers to order their favourite food and produce online and have it delivered to their doorstep. On downloading the Eat Me Global app, Genie customers of the platform will be enabled with the option of using the Genie login to perform their payments while non-Genie customers can store their Credit/Debit Card on the Eat Me Global app which uses the PCI DSS (Payment Card Industry Data Security Standard) certified Genie back-end for card storage. Once the card is stored customers can use the ‘One-Click-Pay’ option, which eliminates the need of entering card details for every purchase. Contactless delivery is then ensured once the successful payment is done. One-Click-Pay is an effective and secure alternative when transferring sensitive information, adding an extra level of security to credit and debit card payments and fast becoming a catalyst in fighting fraud whilst creating a seamless payment process.

Speaking on this integration, Group Chief Digital Services Officer of Dialog Axiata PLC, Renuka Fernando said “Genie is pleased to partner the one-stop supermarket hub, Eat Me Global. This partnership will facilitate customers with doorstep delivery of food and groceries whilst also enabling our partner merchants to adapt, change and thrive with cutting-edge tokenization technology in a new normal. Genie remains committed in supporting our partner merchants and customers alike with enhanced e-payment security and a convenient method for remote transactions and cashless payments – a catalyst for surviving and succeeding in the face of COVID-19”.

With reference to this partnership, Jude Kumar- CEO of Eat Me Global said “We want our customers to feel safe and have a seamless fast payment checkout when purchasing their groceries and food via our app, Genie has immensely helped enhance and simplify the payment experience with guaranteed safety”

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