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HNB-Sun Lanka partnership

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Sun Lanka Assistant General Manager, Dilshan Wijeywardenne, Sun Lanka General Manager, Chen Gaojie, Sun Lanka Chairperson, Koshila Erathne, HNB Deputy General Manager- Retail and SME Banking Sanjay Wijemanne, HNB Head of Micro Finance Vinodh Fernando HNB Head of Personal Financial Services, Kanchana Karunagama, HNB Senior Manager- Leasing, Niluka Amarasinghe, HNB Assistant Manager- Leasing, Roshan De Silva and HNB Business Development Executive- HNB Leasing, Mahesh Ratnayake

Sri Lanka’s premier private sector bank HNB PLC announced unmatched discounts and convenient leasing options for SANY heavy machinery in partnership with Sun Lanka Auto Traders.

The partnership between the industry leaders will be applicable for customers purchasing any model of SANY excavators available in the market. The MoU was signed at a special ceremony held at HNB Towers with the participation of HNB Deputy General Manager- Retail and SME Banking Sanjay Wijemanne and Sun Lanka Auto Traders Chairperson, Koshila Erathne.

“We’re delighted to renew our agreement with Sun Lanka this year and offer customers access to an even broader range of vehicles with attractive benefits and exclusive discounts. As a leading private sector bank, we will continue to partner with the nation’s foremost automobile dealers in a bid to offer our loyal customer base the most flexible and affordable leasing solutions,” HNB Head of Personal Financial Services, Kanchana Karunagama said.

The partnership entails an attractive leasing package with low-interest rates and customised repayment facilities, tailor-made to suit each customers’ budget and income. HNB customers will also be offered the Prestige Prime credit card, with the bank waiving off the first year annual fee payment. The card will provide customers with access to unique discounts on automobile products, servicing, spare parts, tyres and batteries.

Dedicated to serving a vast array of motor needs, HNB General Insurance will provide additional benefits to customers through the cost-effective vehicle and life insurance schemes. This includes discounted vehicle insurance premiums for customers and free life insurance covers. The promotion is also anchored to a free credit card from HNB, with the first year annual fee being waived off.

“At Sun Lanka, we operate with our customers’ best interests at heart, and we’re excited to be able to offer generous discounts to our customers working in the construction sector. We look forward to strengthening partnerships of this nature to continue offering valued clientele unparalleled pricing and leasing options,” Sun Lanka Auto Traders Chairperson, Koshila Erathne said.

Sun Lanka will offer HNB customers special discounted prices and lease contributions for a select range of SANY heavy machinery.

Further information regarding the offer can be obtained from HNB customer centres and Sun Lanka showrooms island-wide. Sun Lanka Auto Traders is Sri Lanka’s top vehicle dressing and vehicle accessories store focusing on providing comfort and ease to ensure customer satisfaction.

With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka Award for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.

 

 

 



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Rupee devaluation, high shipping rates hurt tea prices at Colombo auctions

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by Steve A. Morrell

The Sri Lankan rupee weakening against the US dollar coupled with surging shipping rates reflected adversely on tea prices at the Colombo auctions.

This contributed to regressive price trends in Colombo, Forbes & Walker (F&W) said in its weekly Tea Market report.

The average for April 2021 was Rs. 627. 41 in comparison to Rs. 689.18 the corresponding month in 2020, indicating a minus variant Rs. 61. 77.

Brokering sources collectively said such price trends could result in negative market conditions seriously affecting profits at producer levels.

The depreciation of currencies in importer countries also contributed to depleting prices in Colombo apart from other allied trading disruptions, they said.

Commenting on the National auction average for April 2021, JKH Tea Brokers warned that the declining trend caused by the fall of the rupee against the dollar would trigger further minuses that could be foreseen at future auctions as well.

They said all elevations showed minus variances with low growns recording a higher minus variance of Rs. 93.43 per kilo.

Nevertheless, commenting on positive results for flowery grades at last week’s auctions, they said these grades fetched prices ranging from Rs. 2,300 to Rs. 3,000. per kilo. Quantities, although relatively small, impacted on the overall prices for the week.

The better known garden marks in the Uva High catalogue showed quality trends setting in with prices of Rs. 800 or more. Some Nuwara Eliya garden marks as well were in the Rs. 950 range of the price table.

Comparing production in most tea producing countries, China, India and Kenya were among the first three in production position in the world. Sri Lanka, producing 278.7 million kilos, was fourth in line.

Tip world producers include Indonesia, Bangladesh, Vietnam, Malawi, Uganda, and Tanzania, apart from Argentina supplying Tea to the US market.

Sri Lanka also exports to the US market but in irregular quantities.

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Mobiglotech Blockchain Corp seeks investment for EXIP Project

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To become a billion dollar company by 2025

The EXIP project, Mobiglotech Blockchain Corp’s flagship initiative in partnership with Dev Ceylon Holdings and Niftron, is looking for a US$ one million investment to become a billion dollar company by 2025.

The EXIP project, themed as ‘By Community for Community’, is expected to create independence on the internet and ensure it remains neutral of any political affiliations.

‘’EXIP ecosystem is custom built to the needs of any individual, private or government institution where they can have the ownership of their domain or TLD other than rent it from present service providers. In future, depending on the way the world is moving with blockchains and decentralizations, all aspects of the project will be decentralized and the community will control it without any monopoly”, says Shashi Meghawarna, the founder and CEO of Mobiglotech, the world’s first decentralized domain and TLD name service.

“We will build this project in such a way that all users have equal rights to access and anyone will be able to create domains and top-level domains whose ownership will be identified through Non fungible tokens’’, he added.

The internet transformed the way we carry out transactions, communicate, share information, promote business, entertain, study and so forth. Nevertheless, the internet was never properly designed for such a global role, he noted.

On the other hand, some organizations have the power to seize, revoke, dismiss, and permanently erase any domain from existence. Once the EXIP project is completed, the community would be able to decide all the major actions in the system based on their voting such as removing or banning a domain or a user, he further said.

EXIP is specially designed to decentralize the internet and overcome the monopolistic control over domains and TLDs. While providing the connectivity of an internet, it assures full security similar to an intranet.

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Contactless payments from Sri Lanka Insurance

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Sri Lanka Insurance the national insurer has facilitated an array of payment channels at this hour of need honouring customer needs while ensuring their safety and wellbeing.

Sri Lanka Insurance customers can enjoy uninterrupted service through an array of online service platforms without having physical contact during the current pandemic situation

SLIC policy holders can renew their insurance policies and make premium payments via Sri Lanka Insurance Customer Portal www.srilankainsurance.net and SLIC mobile App is available to download on Apple App Store and Google Playstore to fulfill various insurance needs.

Keeping in line mobile payment facilities including Genie, FriMi, mCash and eZ cash are available and further direct bank payments facilities are also available through Sampath Bank (Life – 092960000104 / General – 002960001543 ) , Commercial Bank (Life – 1484444444/ General- 1480020022), People’s Bank ( Life -014100120112337/General – 014100160112335), Bank of Ceylon ( Life -0000164657/General-0000000464), Hatton National Bank (Life -003010313831/General 003010011166 ),National Savings Bank (Life -100011141139) Nations Trust Bank ( Life -011106000275 ), Seylan Bank ( General -086433464695001) for the premium payments.

Established in 1962, Sri Lanka Insurance Corporation is the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs.212 billion and a Life fund of Rs. 117 billion, the largest in the local insurance industry. The company is also the first and only local insurer to secure Fitch Ratings AA (lka) rating for its long-term financial stability and sustainability and also Sri Lanka Insurance ranked as the ‘Most Valuable General Insurance Brand’, and ‘Most Loved Insurance Brand’ and the 3rd Most Loved Consumer Brand in the country by Brand Finance. The national insurer is on a mission of being a customer focused company which constantly innovates in providing insurance services to customers and is now serves customers through an extensive network of 158 branches.

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