Creating history and proving its dominance in the cable industry once again, ACL Cables PLC announced it had been awarded the SLS 1504-3-31 certificate under the product marking scheme for its fire rated – Low smoke Halogen Free (LSHF) non – sheathed single core cables by the Sri Lanka Standards Institution (SLSI) recently.
SLSI is the highest local authority that awards quality standardizations for products sold locally. Upon complying with the requisite standards ACL Cables PLC has become the first company in the country to obtain this certification. The equivalent British Standard (BS) for the above local certification is BS EN 50525-3-31.
Moreover, ACL Cables is currently the largest and pioneering company that manufactures a wide range of LSHF cables locally. The certification was awarded for cables with voltage up to 450/750 volts. The tests were conducted at ACL in-house laboratories located at their factory premises under the supervision of the SLS audit committee. ACL cables is the only company in Sri Lanka that has a comprehensive lab facility for testing fire rated cables.
Currently ACL cables markets three brands under the category of fire rated cables, namely; ACL Fireguard, ACL Firezero and ACL fire survivor. ACL Fireguard is the core brand out of all three that has reached the masses island wide and is manufactured with a specially insulated PVC compound. The latter two falls to the category of LSHF cables and vastly marketed for high-end construction projects.
As the No. 1 Cable Company in Sri Lanka ACL Cables has always placed itself at the forefront of the local cable industry, which has earned them a strong following in the market.
Up on receiving this certification it proves the reliability of the range of fire rated cables ACL produces. This accreditation makes ACL the only company in Sri Lanka that produces fire rated cables as per appropriate local standards and regulations that has the genuine properties of fire prevention. ACL has also gained international certification from PSB Singapore for the same range prior to receiving this.
Fire related accidents in buildings can occur as a result of electrical short circuits. Thus, the main objective of fire rated cables is to prevent the spread of fire whilst extinguishing within a very short period of time. Designed with fire retardant qualities by the use of special material and compounds, ACL fire rated cables is the perfect, trusted solution to safeguard all buildings.
In order to receive the SLS 1504-3-31 standard ACL Cables was required to complete the following additional three quality tests stated in the standard: Test under fire conditions for vertical flame spread of vertically mounted bunched wires in accordance with BS EN 60332-3-24 (Category C), Measurement of smoke density of cables burning under defined conditions in accordance with BS EN 61034-2 and Assessment of halogens (acid gas) for all non-metallic materials in accordance with BS EN 50525-1(Annex B).
Commenting on this landmark award, Suren Madanayake, Managing Director said, “We have constantly placed great importance and responsibility in the quality and authenticity of our products assuring customers of the highest levels of reliability and safety specifications. I am very proud that ACL Cables has achieved this prestigious local status. We have once again demonstrated to the market our quality and dominance. I appreciate the effort of my technical and quality assurance teams for their untiring efforts to ensure this Product certification process was a success.”
Madanayake added, “Since our inception in 1962, ACL Cables has always been the trendsetter in introducing new products and receiving proper certification. This is one such milestone. Currently we are processing a considerable number of orders for LSHF cables and this is the main reason to push ourselves towards gaining this certification. The certification enables customers to have more confidence when they purchase LSHF cables from us. I am convinced that as the recipient of the SLS standard, we will be able to grow our market share further with this product and strengthen our top and bottom lines.”
Based on the process, ACL had to initially study and follow the respective British Standard that complies with the above criteria. Following which presentations were made to the SLSI, who then awarded the equivalent Product certification as per local regulations and standards.
ACL Cables PLC own 70% of the market share recording annual revenue over Rs. 18 billion as a group.
HNB promotes cashless transactions; joins CBSL’s ‘Rata Purama LANKAQR’ campaign
Chief Guest for the event Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal, CBSL Deputy Governor and National Payments Council chairperson Yvette Fernando, and CBSL Payments and Settlements Director D. Kumaratunge with HNB Executive Director and Chief Operating Officer Dilshan Rodrigo as he completes a transaction via HNB SOLO at a merchant stall
HNB PLC, partnered with the Central Bank of Sri Lanka to promote the Colombo-leg of ‘Rata Purama LANKA QR’ campaign at Diyatha Uyana, to raise awareness and encourage the public towards cashless payments.
Having already linked LANKA QR to its digital payment app HNB SOLO, the bank was among other financial institutions and telecommunication partners in joining efforts to make cashless QR-code based payments the standard for mobile phones and digital payments countrywide, in moving towards a cashless and digitally-savvy Sri Lanka.
“We are entering a new era of financial technology, where almost all of our daily transactions will require no physical banknotes, but just a smartphone and internet connection with our bank account integrated to a digital payment app.
The Central Bank’s national directive for banks and financial institutions to adopt and integrate LANKA QR into their existing digital payment solutions has prompted an aggressive onboarding of merchants to the new payment solution across the country. With our extensive customer base, SOLO is no doubt a significant contributor to this innovative initiative,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne said.
The Colombo-leg of the ‘Rata Purama LANKA QR’ campaign raised awareness regarding SOLO’s many facilities, including zero human interaction, efficiency, and eliminated risks that influenced many vendors to come on board.
Sri Lanka Insurance posts a staggering revenue of Rs. 55.2 billion during 2020
Amidst the turbulent and challenging year Sri Lanka Insurance has closed year 2020 on a positive note recording phenomenal revenue growth with exceptional service innovations.
Sri Lanka Insurance the premier insurer to the nation recorded stellar performance in 2020 to record Rs. 55.2 billion revenue for the year, a marked improvement on the Rs.48.6 billion in the year 2019, a press release said.
It adds – In the year of 2020 Sri Lanka Insurance reported 30 % growth in life insurance premium increasing to Rs.19.2 billion whilst general insurance reported 7% growth in premium grew to Rs. 20.1 billion. The company achieved a combined Gross Written Premium (GWP) growth rate of 17 % during the year. General insurance contributed 51% towards the total GWP whilst Life Insurance contributed 49 %.
‘In continuing with its tradition of leadership, Sri Lanka Insurance in 2020 surpassed its own record to declare a sum of Rs.8.2 billion as bonus to policyholders. The cumulative life insurance bonus paid out during the past 10 years tops a massive Rs.54 billion making the SLIC bonus payout unmatchable.
‘As the national insurer we have witnessed yet another challenging year and the consequences brought out by pandemic outbreak urged us to conduct our business operations in a more empathetic manner. SLIC has always taken the lead to protect the nation and during this difficult time Sri Lanka Insurance launched many initiatives to sustain country’s health defenses while ensuring our customers receive uninterrupted insurance service.
‘As the pioneering insurance company in Sri Lanka we are in the forefront to inculcate the importance of insurance to the masses as a national responsibility on our shoulders. We will further strengthen internal capabilities to serve the nation through innovative and affordable insurance solutions which cater to all Sri Lankans under the ‘Insurance for All” concept. Even though the times are defining we will continue protecting our nation turning obstacles into opportunities.’ noted .Jagath Wellawatta, chairman of SLIC.
Bank of Ceylon empowering nation with Lanka Q
The Bank of Ceylon in its mission to assist the government initiative to empower Sri Lanka through digital technology is joining the customer awareness campaign of Central Bank of Sri Lanka’s Lanka QR digital platform.
Bank of Ceylon had its most recent major awareness programs in Borella and Maharagama along with the other branches in Colombo District in line with the Central Bank’s main program held in “Diyatha Uyana” with the participation of all Lanka QR certified banks on the same day.
Central Bank of Sri Lanka (CBSL) has organized a series of awareness and promotion campaigns for popularizing Lanka QR with the participation of all Lanka QR certified financial institutions throughout the country with the aim of speeding up the customer adaptation process towards digital banking.
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