Iconic Developments recently signed a Memorandum of Understanding (MoU) with leading bank NDB to widen the scope of financing options for prospective homeowners of the latest luxury living space, the “Iconic Galaxy” on Buthgamuwa Road, Rajagiriya.
The multi-faceted partnership is set to offer homeowners special discounts and flexible repayment options, inclusive of special benefits for professionals. At the same time, NDB staff members will also be trained to guide prospective homeowners. The MoU for the partnership was signed at NDB Head Office, Nawam Mawatha, Colombo 02 in the presence of high ranking members of the corporate team from Iconic Developments and NDB.
“The COVID-19 pandemic has shown us the importance of creating a home which is self-contained and self-sufficient to ensure peace of mind during such stressful times. Even though the Iconic Galaxy was not created with a pandemic in mind we are delighted to say the wide range of amenities we have put in place and the facilities available have proven to be ideal in catering to the comforts of prospective homeowners at a time in which their needs are evolving.
Additionally, the rising cost of real estate in Sri Lanka has made it difficult for many to invest in the home of their dreams and we hope that this partnership will offer many future residents of the “Iconic Galaxy” a convenient path to owning their dream home. Concurrently, we are also delighted to share our first-hand knowledge of the industry with NDB,” Iconic Developments (Pvt) Ltd., Managing Director, Rohan Parikh said.
Prospective homeowners will have access to special home loan schemes from NDB, complete with flexible repayment options of 20 years upto the retirement age, customised to their income patterns. Additionally, professionals are entitled to a special discount of 5% when purchasing a home at the Iconic Galaxy.
“We are delighted to be working with Iconic Developments to offer our home loan customers the opportunity to invest in luxury, self-contained living spaces in the suburbs of Colombo,” Zeyan Hameed, Assistant Vice President (Personal Financial Solutions & Card Centre) of the NDB said.
‘A supermarket in your pocket’
For large corporates, understanding the pulse of one’s stakeholders assures longevity and relevance. From serving a few to serving many, Cargills has undergone numerous changes as a corporate entity throughout its rich history of over 175 years. Reflecting on its journey thus far, Cargills transformed from a primarily wholesale and retail business to a pivotal player across multiple sectors within the food and beverage industry in Sri Lanka.
From introducing the first bona fide supermarket, Cargills Food City which revolutionised modern retailing in the country, to acquiring long-standing food brands and elevating them to new heights, Cargills has never shied away from diving into new ventures.
At its core is a deep intrinsic understanding of its stakeholders, from farmers to customers across all 25 districts. While the looming pandemic in March 2020 sought to disrupt the normal, this same understanding, a pulse if you will, directed a new norm.
Like many other businesses, Cargills was compelled to adapt. While it has a wide network of supermarkets across the island which were in fact operational during this time, there were no customers to be served due to the imposed lockdown. Almost overnight, the Cargills Rewards website was transformed to a new system for customers to order their groceries. It was a simple solution, that leveraged its supply chain to help facilitate hyperlocal delivery for customer’s within a 5km radius of its outlets.
Furthermore, container trucks carrying well displayed groceries were dispatched to neighborhoods, pioneering Asia’s first mobile supermarket, ‘Cargills 2 Home’. This ingenuity was driven by the top brass, who too feel the pulse of their stakeholders and so brought the supermarket experience to the customer’s home.
Raddella Holdings launches first biotech insulin manufacturing plant in Sri Lanka
Raddella Holdings introduce yet another revolutionary first with the launch of Sri Lanka’s first and only biotech insulin manufacturing plant. The recently concluded groundbreaking ceremony was held on September18, at the Koggala Export Processing Zone. The landmark event was attended by a host of dignitaries and guests including the State Minister of Pharmaceutical Production, Supply, and Regulation – (Prof.) Channa Jayasumana, Minister of Tourism – Prasanna Ranatunga, Minister of Plantation – (Dr.) Ramesh Pathirana, State Minister of Rural and School Sports Infrastructure Development – Thenuka Vidanagamage and many more.
The operation of the new plant will involve a joint venture between the Premium International Injectable Company (Pvt) Ltd, a subsidiary of Raddella Holdings and the State Pharmaceutical Manufacturing Corporation (SPMC). All new products manufactured as a result of this venture will be done under the SPMC brand name, with full government supervision.
The biotechnology manufacturing plant is a Rs. 3.5 billion, 100% local investment, which will employ over 200 specialized and highly trained professionals. All technology used in manufacturing will be state-of-the-art and conform to the highest tier of European standardization. This new plant has the capacity to meet 100% of projected local demand for next 15 years. The surplus produced thereafter will be exported and provide a valuable source of foreign revenue.
The new plant will utilize world famous SCADA systems to monitor and control the plant, all equipment, and the entire manufacturing process. This will guarantee the highest level of quality control, where all records of manufacture are completely automated and thus tamper-proof. Other quality control methods include adhering to the European Union Goods Manufacturing Practice (EUGMP), Good Manufacturing Practice (GMP), while also complying with the strict standards set by the World Health Organization (WHO).
The extensive planning for the plant happened over the last two years, in this time all designs, technology transfers, and specialist training have been completed, with all approvals and certification having been obtained. With construction completed soon, the plant will commence operations shortly.
AIA Insurance Platinum Sponsor of Sri Lanka’s Most Admired Companies
AIA Sri Lanka is proud to partner as Platinum Sponsor, The Chartered Institute of Management Accountants (CIMA) and the International Chamber of Commerce Sri Lanka (ICCSL) in presenting ‘Sri Lanka’s Most Admired Companies Awards 2020’.
This is the third year of the prestigious Awards ceremony for which AIA has been the Platinum Sponsor. The awards are intended at recognizing companies that are a cut above the rest in terms of not just their financial performance but also on the value they create in a sustainable and ethical way for their employees, customers, investors and the general community.
Companies that have been in business for over 5 years as at June 30 2020 and are 30% or more of Sri Lankan ownership are eligible to enter this Awards competition which is open to both listed and unlisted companies in Sri Lanka. (AIA)
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