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Global Solutions launches its beverage brand – Dlight, to create unforgettable events

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Global Solutions, an event management company based in Akkaraipattu, has launched Dlight – its range of fresh fruit juices, cordials and beverages. What started out as the ultimate service provider for various types of events has now diversified its portfolio of offerings to include a delicious range of food and beverages.

Founder of Global Solutions Uwais Mohamed Thilshan states: “Global Solutions is driven by the motto – ‘Make Your Event Memorable’. We have been offering an array of services ranging from venue management to lights, sounds and logistics, and recently expanded our offerings to include catering services as well – providing snacks and beverages at all our events. However, we wanted to go a step further and offer healthy and fresh products at all our special occasions. This led us to launch our brand called Dlight which has been a stepping stone for all of us and a venture we look forward to expanding.”

Global Solutions provides all-inclusive event services that cater to individuals, groups and small businesses as well. It integrates into its service various vendors such as photographers, audio-visual providers, caterers and the like. With a dedicated vision to flourish in the region’s event management and food processing industry, Global Solutions has provided employment and acted as a source of income to many.

Thilshan further states: “We have always wanted Dlight to disrupt the industry by providing healthy and tasty food and beverages to our customers. And we are ecstatic to announce that we have launched our first Mango Nectar, Mixed Fruit Nectar, Lime and Lemon drink, Aloe Vera drink, and Iced Coffee bottles to the market.”

Dlight has now built itself a loyal and growing customer base of its own. The returning customers prefer Dlight for its fruit-based nectar, organic nature and competitive pricing. Mango Nectar and Mixed Fruit Nectar, which are especially popular during the scorching summer, are available in 200ml, 500ml and 1 Litre bottles in the Eastern and Northern Provinces.

Thilshan and his team look forward to adding Wood Apple Juice to the Dlight portfolio. In addition, Global Solutions also plans on producing Dlight Jams, Dlight Cordials and Dlight Organic Drinks in the near future.

Global Solutions is supported both technically and financially through HackaDev – the United Nations Development Programme (UNDP) in Sri Lanka’s flagship youth and innovation programme, which empowers Sri Lanka’s youth to be more innovative and entrepreneurial and take leadership in solving the most pressing development challenges in a sustainable manner, by providing them with opportunities and the necessary next-generation skills.

The HackaDev Enterprise Support Programme (HESP) is an initiative which is aimed at rebuilding enterprises and empowering entrepreneurs of the HackaDev alumni network affected by the COVID-19 pandemic. With the first cohort successfully implemented in 2020/21, it provided 06-months of comprehensive further development support to 15 enterprises. CurveUp was entrusted as the expert service provider to manage the seed funding and incubation support process of the HESP interventions, and has been successful in providing necessary support and hands-on guidance to entrepreneurs in their journey, contributing to the successful completion of the programme.

Having previously worked as a merchandising executive, Thilshan believes that the exposure he garnered through meeting people, better understanding their needs, and being able to translate challenges into progressive business opportunities has made him a mentor to many in his region. He says that the habit of reading several books and biographies on successful entrepreneurs, that he cultivated during his school days, has definitely played a part in him achieving his dreams! This budding entrepreneur is most definitely an inspiration for young people to progress in life amidst challenges.

“We had to face several issues when launching our product – right from market research to branding, merchandising and even production. The support and mentoring offered by UNDP and CurveUp has been instrumental in who we are now, and we look forward to establishing our footprint islandwide,” comments Thilshan.

Commenting on the initiative, Founder & CEO of CurveUp Mohammed Fawaz states: “We are indeed honoured to be a part of this project supported by the UNDP. CurveUp has offered the foundations and initial processes followed by Incubation. And UNDP has really enabled entrepreneurs to disrupt industries, create lasting impact, and develop sustainable solutions in our communities.”



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Business

Dialog Smart Home Enables Seamless Home Automation via Range of Intuitive Solutions 

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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.

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CBSL implements extraordinary measures to support banking sector

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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.

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CEAT official tyre supplier for locally assembled Tata Ace HT 

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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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