Exterminators Limited announced that the company is Asia’s 1st and one of the few pest control companies in the world to be certified as a ‘Great Place to Work’. The company created history by scoring 100% points in the ‘Trust Index’ in all focus areas during the certification process.
Marlon Ferreira Founder/Managing Director, Exterminators said,” At Exterminators our people define who we are. It is through the contributions of our employees and their efforts, day in and day out, that we are able to serve our communities. we remain committed to an inclusive workplace that focuses on employee wellbeing, safety to cultivate an employee and a customer centric culture.
Exterminators gained 100% results in the ‘Trust Index’ covering all focus areas such as leadership behavior, innovation, engagement, respect, equity, corporate image, support, caring, community, collaboration, pride, hospitality, communication, competence, camaraderie, fairness, impartiality, credibility and integrity which is a tremendous achievement.
Ferreira further said: “We knew from the inception that our success rested on every action, every person and every voice in our organization. We entrusted our employees, no matter their role, to bring innovation from every corner of the organization and to help develop and enhance the quality of our services while mitigating our environmental impact. We are delighted to be certified as a ‘Great place to work’ company scoring 100% results in all focus areas.”
Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures.
He further stated that in honouring the employees contribution the company selected six employees with joint service of over 70 years and offered 2% of the stake of the company in May 2021. Since June 2020 the salaries of all employees was increased by 10-50% even during the prevailing COVID-19 pandemic and four motor-bikes were gifted to four technicians and another bike on the retirement day of an employee.
“We are also proud to announce that the wages at Exterminators is 73% higher than the Sri Lanka per capita. According to the World Bank, Sri Lanka’s per capita is USD 3,682 in 2020, at Exterminators its USD 6,380 (source Oct 2021 payroll),: he said.
“We believe that ‘Talent is like a little seed; when nurtured, it will flourish’ and produce optimum results. The top management represents 50% female and the entire operations division is headed and run by 100% female employees. At present we are adding talent to increase organizational capacity and drive expansion into new markets.” he said.
Kshanika Ratnayake, CEO of Great Place to Work in Sri Lanka said, “We applaud Exterminators for seeking employees’ feedback and the opportunity to certify itself. These ratings measure its capacity to earn its own employees’ trust and create a great workplace – critical metrics that anyone considering working for or doing business with Exterminators should take into account as an indicator of high performance.”
Seven factors of concern at upcoming Monetary Policy Review
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.
Sri Lanka’s dash brand enters international markets
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”,
Janaka Abeysinghe appointed SLT CEO
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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