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Exporters growing in confidence about fromsrilanka.com

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The www.fromSriLanka.com platform is receiving increased interest and confidence from exporters and potential exporters of Sri Lankan products. So far over 100 companies small to large have gone through the registration process with many more getting on board continuously.

“I feel that this is the link that Sri Lanka was missing. IT-BPM services are booming due to the rapid digital transformation happening around the world. We have many products and services to support this in Sri Lanka so this will be a great platform to showcase our products and service and I am confident that I will be able to find more business opportunities through the fromSrilanka.com platform” says Sushena Ranatunga, Director of Creative Software.

“Our products are really a celebration of Sri Lanka’s biodiversity. We are really excited to be part of the fromSrilanka.com B2B platform to further expand our exports and take our brands provenance to the global market” says Ms. Shamindi Kumarasinghe, Head of Exports, Nature’s Beauty Creations (Pvt) Ltd.

The National Chamber of Commerce of Sri Lanka is proud to offer the fromSriLanka.com website as a one stop B2B buyer and seller connectivity platform, aimed at supporting Sri Lankan companies to promote their products and services to global buyers.

Catering to a range of over 900 product/service types from Tea, Rubber, Coconut, Spices and Ayurvedic items to Apparel, Gemstones, and furniture or services such as Software Development to BPO solutions the platform is expected to host thousands of Sri Lankan manufacturers and service providers, very soon enticing millions of global business buyers.

The National Chamber is working closely with the EDB, Ministry of Foreign Affairs and Industry Associations across every industry to promote exports from Sri Lanka through this platform with multiple other initiatives, with an objective of generating US$ 1 billion worth of new export leads within the next two years.

This platform is developed in partnership with Oracle using the latest performance and security features and utilizes a very responsive web design which is suitable for any PC, mobile phone or tablet using the most popular browsers.

“FromSriLanka.com platform is bound to make a significantly positive step in promoting foreign trade and earning valuable foreign exchange to Sri Lanka and would create a new era for Sri Lankan products in the Global Market” says Mr. Asela De Livera President of the National Chamber of Commerce.

The National Chamber of Commerce of Sri Lanka has been the leading source in promoting and assisting domestic small, medium & large businesses island wide giving a special emphasis to SME’s , as well as foreign trade for over seven decades. ‘fromSriLanka.com’ will be a key part in fulfilling this objective of the Chamber.

National Chamber of Commerce of Sri Lanka

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Union Assurance empowers its policyholders by introducing free COVID-19 life coverage

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Union Assurance PLC being one of the largest insurance solution providers in Sri Lanka has further established their commitment towards the nation by staying true to its promise, ‘Your Life, Our Strength’. In turbulent times such as COVID-19, the company has taken initiative to persevere and adapt by responding to customers’ needs irrespective of the unanticipated circumstances presented.

The free COVID-19 cover has been reinstated to support both existing and new policyholders to ensure additional protection during these uncertain times. The cover provides a free death cover up to a maximum of LKR 1 million per policyholder. This free cover is valid for a period of one month commencing from 02nd November 2020 to 01st December 2020.
Union Assurance was also recognized as one of the first life insurance companies to offer hospital cash benefits for quarantine treatments since the outbreak of COVID-19 in Sri Lanka. The company therefore assures all its valued policyholders this initiative would be continued in which hospitalization per day claims directly resulting from COVID-19 will be considered from 20th October to 31st December 2020.

Amidst grave adversity Union Assurance strives to provide its unwavering commitment in offering the best in class protection coverages to its policyholders while ensuring that their families are financially empowered to face any challenge and uncertainty.

Jude Gomes, Chief Executive Officer of Union Assurance stated, “The COVID-19 pandemic is a global health, economic and social crisis and has affected people from all walks of life. We offer this timely protection cover free of charge to provide our policyholders the added peace of mind that the future of their families will be secured during these uncertain times. The specialty of this cover is that it is not just limited to our existing policyholders but is also offered to new customers and thereby giving Sri Lankans access to secure the future of their families.”

To obtain more information about this free COIVD 19 cover, call the Union Assurance 24-hour hotline on 1330, email: info@unionassurance.com; or chat with the company on www.unionassurance.com
Union Assurance is the oldest private life insurer in Sri Lanka, and is a member of the John Keells Group, Sri Lanka’s largest listed conglomerate. Union Assurance completes over three decades of success in the industry with a market capitalization of Rs. 18 Bn, a Life Fund of Rs. 38 Bn and a Capital Adequacy Ratio (CAR) of 434% as at August 2020. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, protection, retirement, and investment needs of Sri Lankans. With 76 branches and an over 3000-strong workforce, Union Assurance continues to invest in people, products, and processes to remain agile and responsive to emerging changes in the Life Insurance industry.

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Ideal Industries acquires home grown e- commerce major Takas.lk

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Ideal Group, headed by visionary entrepreneur Nalin Welgama, in keeping with his ethos of growth through innovation, made a move pertinent with the “new normal” by acquiring one of the pioneers in the Sri Lankan e commerce industry, Takas.lk.

Having invested heavily in developing capacity in the Sri Lankan automotive sector, Founder and Executive Chairman of the Ideal Group of Companies, Nalin Welgama, is determined that a Sri Lankan built and operated company be in the forefront of e-commerce in Sri Lanka. “The Ideal Group has and always will be driven by innovation, hence our foray into the digital space with Takas.lk is both timely and appropriate, said Welgama. “We promise to strengthen Takas.lk, making it the most valuable e commerce company in Sri Lanka. The collaborative synergies of the Ideal Group of Company’s island wide touch points will further enable us to provide an unmatched service, hitherto not experienced”.

Takas.lk commenced operations in 2012 and since then has grown to be a household name in Sri Lanka. Indeed, Takas was the first company to introduce cash on delivery (COD), and enable the tokenization of credit cards. Since inception Takas has taken great pride in being a Sri Lankan company that has served Sri Lankans both here and abroad, adding value and giving satisfaction. Furthermore, the technology stack-which Takas operates on has been built completely in-house, and to date has enabled e-commerce businesses in Sri Lanka as well as overseas markets .

Speaking at the launch which was limited to a few stakeholders due to the Covid situation, Founder and Executive Chairman, Ideal Group of Companies, Nalin Welgama said “e commerce is the way of the future and is the new normal. e-commerce is here to stay, and even when the Covid situation eases, our life styles and methods of business have been irrevocably transformed. We will focus on expanding market share as more companies move their businesses online. What will be key from here onwards will be sustainability of demand from newly acquired merchants. The Covid 19 pandemic has accelerated the trend of online shopping and with it the gross merchandise volumes. Therefore we must capitalise on the prevailing strong e-commerce trends and provide many businesses a life line during these challenging macro economic conditions.”

As per statistics, Sri Lanka’s annual domestic e-commerce sales value including services is an estimated US$40-60 million. This is expected to grow to $400 million by 2022-23. “Currently, only 0.3% of Sri Lanka’s total annual retail sales ( $13 billion) are via e-commerce, thus the opportunity is huge”.

 

Takas.lk is known for its large manage-market place for electronics and under the new ownership will expand on this range of products.

Since it’s acquisition by the Ideal Group, Takas.lk has quickly expanded into the gift giving segment, daily essentials, and cakes/flowers. ” We will be working with Sri Lankan suppliers and empowering them, giving them the ability to function on a basis of ‘business as usual’ during these difficult times”. Takas’ new location on Rosmead place too is more convenient and better equipped to service their customers.

 

Subsequent to the acquisition, the existing Takas.lk management team including Lahiru Pathmalal will remain to guide the company through its transition and will work together with the Ideal team for a stipulated period in their current roles, ensuring a seamless transition. Commenting on the acquisition, Co founder Takas.lk, Lahiru Pathmalal said, “having been a part of Takas.lk from day one, I have a strong understanding of the key operations required for the success of Takas. I like to think I have a creative approach to the industry, and this combined with the wealth of resources the Ideal Group brings to play in the e-commerce game, makes me excited and motivated to help shape its future.”

Under it’s new mantle, Takas.lk has a vision of becoming ‘The’ one stop-shop for all consumer requirements and is committed to follow a service first philosophy!

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SLT Mobitel awarded prestigious ‘Project Management Excellence Award – 2020’ by PMI

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SLT Mobitel, achieved yet another significant milestone by bagging the most esteemed Project Excellence Award (PMI) 2020, by the Project Management Institute (PMI) for its Stage VIII Project themed “Project Rural MPowerment”.

Conceptualized to empower every Sri Lankan with digital inclusivity, the project facilitated rural areas by providing 4G technology across the country. Having embarked on the project in 2018 with two leading strategic partners, namely, Huawei and ZTE, the Mobitel team concluded the project 5 months ahead of its planned schedule. This multi-million-dollar endeavor involved establishing 5400+ base stations including over 3000 4G LTE nodes. As a result, people in and around the rural areas were provided with supreme connectivity and extended broadband coverage.

In 2019 alone, Mobitel made an investment of over USD 100 million in expanding its network and will invest another USD 25 million in 2020 to provide superior connectivity and broadband experience to every Sri Lankan. Having completed just before the COVID-19 outbreak, the project enabled school children to continue their education through e-Learning platforms and helped the corporate sector to adopt to the WFH concept with no interruptions. Further, the project not only enabled people in rural areas to connect with the world but also empowered the SME sector by facilitating them with broadband accessibility thus increasing their contribution to the national economy.

Commenting on the achievement, Lalith Seneviratne, Group CEO, Sri Lanka Telecom Group said “Being recognized internationally for a national level project by the Project Management Institute is a tremendous honor, and I would like to thank the Team Mobitel for their untiring commitment, dedication and loyalty to complete this project in record time. This high level of achievement has not only brought glory to Sri Lanka but has also shown that the skills and capabilities of local professionals to compete in the international market as well. I would like to thank our valued stakeholders, government officials and the PMI Sri Lanka Colombo Division, who went above and beyond duty extending their invaluable support in helping us to secure this coveted accolade”.

(SLT)

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