Business
Germany supporting Sri Lanka to keep up with latest technological developments in apparel sector
At present, Sri Lanka accounts for around 1% of the global market share of apparel exports, and Sri Lanka’s apparel sector is well positioned to reach the industry’s target of $8 billion in export earnings by 2025. With these targets in sight, Sri Lanka’s apparel sector will have very high demands for skilled technicians, especially in the area of mechatronics, where the industry is moving into advance factory automations.
In order to fulfill the demand of qualified workforce in the apparel sector, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH- Vocational Training in Sri Lanka project on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) partnered with Sri Lanka German Technical Institute (SLGTI) and MAS Holdings (Pvt) Ltd to commence a NVQ Level 5 Autonomation technician course to provide advanced theoretical and practical hands-on training for youth to work with the latest state-of-the-art machinery.
Prior to the commencement of the training, a Training of Trainer (ToT) course was conducted for in-company trainers at MAS in order to prepare and structure the two year training programme. In-company trainers who successfully completed the training received their certificates at the MAS Intimates facility in Ratmalana.
Speaking at the certificate awarding ceremony, Chairman of the SLGTI and CGTTI Vinod Moonesinghe said, “So far we have followed the practices from 19th century training in technical field work. It has always been a question of people going into technical colleges, theoretical learning, learning from the practice and then being thrown into the industry. Recently we have found out that this model lacks a lot. We are taking off to an entirely new trajectory as far as training is concerned. We need to train people specifically for the jobs that they will be doing in the industry. Then only we can address the job market as well as bring best overall results of the trainings”, Mr Moonesinghe said.
Head of Project, Vocational Training in Sri Lanka Project (VTSL), Mathis Hemberger said, “The philosophy of German engagement has always been to foster cooperative training where not just training institutes in the TVET sector produce the right skills, but private sector and TVET institutes jointly take the responsibility and add value. This partnership that exists between SLGTI, MAS and GIZ is a flagship example where public sector, private sector and development partners come together, join forces and create something that really has added value”.
The cooperative training approach based on the German dual system combines the advantages of two training modes (theory and industrial on-the-job training (OJT) in an integrated and coordinated process, with emphasis on the practical skills required at the shop floor. In such type of training, MAS as the industry partner and SLGTI as the public partner will share their expertise, facilities, and other specialized resources and establish a linkage between vocational training and industry.
Director-Innovation, MAS Intimates, Dr Chandika Wickramatillake said, “There’s a huge demand in MAS. We are looking to move from traditional apparel manufacturing to smart technologically advanced apparel manufacturing. We have very experienced mechanics and during the last five years, we have invested a lot in engineers. However, we have observed that there’s still a gap between mechanics and engineers, creating a need for technicians. This is a perfect time because we are looking at strengthening our staff capabilities at our factories. MAS is an international company having an ever growing global presence. These students who come from our villages will be exposed to latest technology and developments in apparel manufacturing and we need to support them. The trainers who received the certificates today have a big role to play in keeping up with technological developments, to learn and disseminate their learnings to these students. We find a lot of communication gaps because the students come from rural areas”, Dr Wickramatillake said.
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, introduced a range of convenient and integrated solutions via ‘Dialog Smart Home’ to enable intelligent automation and intuitive control of homes.
The newly introduced range of future-fit smart home solutions by Dialog Smart Home ranges from Home Automation, Home Security & Surveillance and Home Connectivity, and are designed to enable any home to work as one harmonious system where all elements work in tandem together to create a truly intelligent home.
The Home Automation solutions offer homeowners seamless and convenient control of their electronic appliances through their smartphones anytime, anywhere. With the Smart Touch Wall Switches, Smart Power Strips and Smart Fan Controllers, homeowners can take control of existing light bulbs, table fans, rice cookers, chargers, ceiling fans and more appliances. Additionally, the Artificial Intelligence (AI) powered TeDi Alexa Solution enables users to control connected smart devices including TVs, air conditioners, home security systems and more through voice commands.
Home Security & Surveillance solutions transform basic cameras into high-powered CCTV solutions. Baby and house monitoring smart cameras can be placed inside homes to keep a 360-degree eye on children and pets. The Indoor Security Camera has the ability to sound a siren and notify users if a stranger enters their home. Dialog Smart Home has also partnered with Singer to offer customers world-renowned Dahua CCTV solutions.
The Home Connectivity solutions offers consumers Wi-Fi extenders to facilitate uninterrupted internet connectivity across the house to fit the homeowner’s lifestyle and requirements.
The Central Bank of Sri Lanka, considering the prevailing macroeconomic conditions and its impact on the banking sector, has decided to implement the following regulatory measures to support the banking sector to facilitate effective financial intermediation and the flow of credit to the economy, whilst ensuring the soundness of the banking sector.
• Sri Lankan banking sector maintains a Capital Conservation Buffer (CCB) of 2.5% to ensure that banks have an additional layer of usable capital that can be drawn down during stress times. An industry wide flexibility is granted for banks to drawdown the CCB (up to 2.5%), if needed, subject to restrictions on distribution to shareholders/ repatriation of profits and submission of a capital augmentation plan to rebuild CCB during a period up to three years.
• The current deadline for licensed banks to meet the enhanced minimum capital requirement (31.12.2022) is extended up to 31.12.2023. Licensed banks which are unable to meet the minimum capital requirement by 31.12.2022, need to submit their capital augmentation plan, including plans to consolidate or merge with suitable financial institutions, by 31.12.2022 and these licensed banks too shall refrain from distribution of dividends/ repatriation of profits until the minimum capital requirement is met.
• Licensed banks are encouraged to move to approaches such as The Standardised Approach (TSA) or alternative TSA for computation of risk weighted assets for operational risk for the purposes of computing the Capital Adequacy Ratio, subject to supervisory review.
• Licensed banks are given the flexibility to stagger the unrealised mark to market loss on Government Securities denominated in LKR on account of the recent interest rate hike for Capital Adequacy purposes until Q2 of 2024, subject to conditions.
• Licensed banks are granted flexibility on the treatment for Other Comprehensive Income (OCI) for Capital Adequacy purpose in line with the International Standards.
• The deadline for licensed banks to submit the document on Internal Capital Adequacy Assessment Process (ICAAP) for 2022, to the Central Bank of Sri Lanka is extended by one month, until 30.06.2022.
• As a short-term measure to support licensed banks to adjust their liquidity profiles, licensed banks are provided with the flexibility to operate maintaining the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) not lower than 90% up to 30.09.2022. Furthermore, the Central Bank of Sri Lanka, on 06 May 2022 decided to restrict certain discretionary payments of licensed banks, such as declaring cash dividends and repatriation of profits, until the financial statements for the year 2022 are audited by its External Auditor, engaging in share buy backs, increasing management allowances and payments to the Board of Directors until 31 December 2022 with a view to strengthening the liquidity and capital positions of licensed banks under these exceptional circumstances.
The above measures were introduced with the aim of providing the licensed banks with more flexibility and opportunities to operate in these challenging conditions and support economic recovery, while taking measures to improve their safety and soundness. The Central Bank of Sri Lanka will periodically review the implementation of these policy measures and expects licensed banks to avail these measures in the best interest of the customers and the economy at large, while supporting the banking sector to remain resilient.
CEAT Kelani Holdings has been appointed as the official tyre supplier for Tata Ace HT series compact trucks which are assembled in Sri Lanka by DIMO in collaboration with India’s largest automobile manufacturer TATA Motors.
CEAT RHINO PLUS TL tyres in the size of 155R12 8PR, manufactured at the CEAT Kelani plant in Kelaniya are used for the TATA Ace HT series vehicles, popularly known in Sri Lanka as “DIMO Batta” under this project. The locally manufactured CEAT RHINO PLUS TL tyre features a zig zag pattern on its circumference and ribs with lateral notches that contribute towards uniformity and better wear and tear on local roads.
Commenting on this latest OEM agreement of the company, CEAT Kelani Holdings Managing Director Mr. Ravi Dadlani said: “As a brand that has been at the forefront of local value addition in Sri Lanka, CEAT is excited to contribute further to the process through its association with this assembly operation. This is particularly relevant in the prevailing situation in the domestic market. We are able to provide high-quality tyres engineered for local conditions at competitive prices and ensure uninterrupted supply, while at the same time helping to conserve foreign exchange.”
In January this year, CEAT was appointed as an OEM for a range of heavy-duty trucks, tippers and light commercial vehicles assembled in Sri Lanka by Lanka Ashok Leyland PLC (LAL), a joint venture company of Ashok Leyland India. In November 2021 the brand was chosen as the OEM for Bolero City Pik-up vehicles assembled in Sri Lanka by Mahindra & Mahindra India in collaboration with Ideal Motors.
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