Sri Lanka’s most customer-friendly bank HNB PLC announced the return of its highly anticipated Singithi Giftober Savings month with a wide range of exciting gifts from jumbo tills and stationery packs to gold sovereigns and gift vouchers of up to Rs 100,000 for its minor savers in celebration of Children’s Day.
HNB will provide its minor account holders with the opportunity to obtain maximum benefits on their deposits with the HNB Singithi Giftober promotion which will run for an exclusive 47 day period from 17 September through to 2 November.
“It is our pleasure to announce the start of the HNB Singithi Giftober month for 2020. This event has long been one of the most anticipated annual promotions carried out by the bank as this provides our most valued depositors with unprecedented benefits, while enabling HNB to rejuvenate the savings habit among our youngest customers and guide them on the path towards a financially secure future.
“Singithi Giftober Savings month is always an exciting time for all of us at the bank too, so even though it has been a very challenging year, we wanted to do our utmost to make sure that our children can still have something to get excited about when it comes to savings” HNB Deputy General Manager – Retail & SME Banking, Sanjay Wijemanne said.
In keeping with its mission to offer Singithi depositors the best value for their savings, this year’s savings promotion provides an unprecedented range of gifts starting from items such as stationery packs or jumbo caps for a deposit of Rs. 5,000 to backpacks, trolley bags, sports bags, MI bands or vouchers from DSI for deposits between Rs 25,000 to Rs. 100,000.
Additionally, deposits of Rs. 250,000 will receive a bicycle voucher from Lumala or a DSI Bike for Rs. 15,000. HNB has partnered with Abans, Singer and Softlogic to provide vouchers for deposits of Rs. 500,000 and above with vouchers ranging from Rs. 30,000 to Rs. 100,000 which can be redeemed at any of their outlets.
HNB’s extensive branch network will also be decked out to impress during the Singithi Giftober month with decorations celebrating children’s month.
“We have taken on the responsibility of ensuring that all our minor account holders have the option to live out their dreams as they grow up with the necessary financial backing.
HNB Singithi has been driven by three key pillars to encourage the habit of savings. The extensive gift scheme offers minors an incentive to save, while the Diri Daru Grade 5 scholarship provides students with further motivation to commit to their studies enthusiastically. We also took measures to financially back the future of our minor savings account holders with a free-standing order guarantee insurance scheme. The new initiative ensures that the standing order set to the child’s account continues until they are 18, in the unfortunate circumstance of a parents’ demise,” HNB Head of Deposits, Viranga Gamage said.
Singithi account holders taking the Grade 5 scholarship exam will be eligible for cash rewards when they pass the examination. Additionally, working in partnership with HNB Assurance, the bank now guarantees that in the unfortunate event of a parent’s demise – due to natural or accidental causes – HNB will continue to remit the monthly standing order set to the child’s accounts until they reach the age of 18.
Rootcode wins Startup of the Year and People’s Choice Award at SAARC Startup Awards 2022
Rootcode, one of Sri Lanka’s leading tech companies, recently took home the “People’s Choice Award” in addition to being bestowed with the “Startup of the Year” title at the SAARC Startup Awards 2022. This regional recognition marks a significant milestone for the Sri Lankan tech space and workforce. Rootcode’s mission to build great tech is well underway, and it is gaining traction faster than ever.
This is the first time a Sri Lankan tech company has made a name for itself in the regional competition, and it is a watershed moment that has focused the global spotlight on Rootcode’s distinct approach to fostering innovation in Sri Lanka. This is also the first time that a Sri Lankan company was able to take home two awards of those presented at the SAARC Startup Awards.
Global Startup Awards SAARC celebrates the spirit of entrepreneurship and promotes bridging boundaries through innovation in its regions, which include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, by recognizing them with its most prestigious awards program, attended by top-notch entrepreneurs, corporates, investors, and ecosystem builders from Nordic, Central Europe, SAARC, and ASEAN regions.
Every year, the SAARC Startup Awards bring together hundreds of South Asian startups, entrepreneurs, investors, co-working spaces, and accelerators to provide a platform to highlight trailblazers in the region’s startup world. Rootcode was chosen ahead of dozens of other regional tech startups in the competition.
Sri Lanka is a relative newcomer to the South Asian startup fraternity, and Rootcode’s ability to represent the country on the global stage not long after its inception is remarkable.
“We are extremely humbled and honored by the support shown to us at the SAARC Startup Awards 2022, and being recognized under two categories is a huge milestone for us,” said the CEO and Founder of Rootcode Labs, Alagan Mahalingam. “We have always been driven forward by excellence, collaboration, and integrity, which I believe is the reason why we have come so far and why Rootcode continues to grow every day.”
Rootcode is driven by its focus on helping businesses build great tech not just locally but globally, and its achievement at the SAARC awards stands as a testament to that. Despite the challenging times, this is a win for Sri Lanka.
INSEE Cement felicitates Sri Lanka’s youngest Commonwealth medallist
INSEE Cement awarded aspiring wrestler, Nethmi Ahimsa Fernando, who won a Bronze Medal for Sri Lanka at the recently concluded Commonwealth Games in Birmingham, LKR 1 million cash reward, to support her to pursue her passion. Suranga Kumara, her coach, also received LKR 250,000 cash reward, in appreciation of his contribution towards Nethmi’s recent achievements. INSEE Cement has also pledged to support Nethmi’s aspiration to represent Sri Lanka at the 2024 Olympic games, while also providing the entire cement requirement for the completion of her new house, which is presently under construction, in collaboration with the Manusath Derana initiative.
Textile maker Teejay knits strong start to 2022-23
Q1 revenue more than doubles to Rs 23.9 billion
Teejay Lanka PLC has made a positive start to 2022-23 posting Group revenue of Rs 23.9 billion for the three months ending 30th June 2022. The Group achieved nearly half its full-year revenue of 2021-22 in just the first quarter of the new financial year as a result of the low base of the previous financial year due to the impacts of COVID, the depreciation of the Rupee and the passing on of yarn price increases during the last quarter.
In a filing with the Colombo Stock Exchange (CSE), Sri Lanka’s largest textile manufacturer said it had also recorded significant growth in pre-tax and net profit at both Group and Company level in the quarter reviewed.According to interim financial statements, Group profit before tax for the three months grew by more than Rs 1 billion or 291% to Rs 1.5 billion, while Group net profit for the period was up 301% to Rs 1.2 billion.
At Company level, revenue improved by 108% in the quarter under review to Rs 12.9 billion, while profit before tax grew by 323% to Rs 1.5 billion, and net profit increased by 311% to Rs 1.3 billion.
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