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IFC invests in Sunshine Holdings despite ongoing disruptions

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Consumers in Sri Lanka are set to benefit from a new $5 million investment by IFC to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC (Group), with a greater number of food products on offer and moves to adopt international food safety standards.

The move marks IFC’s first local currency investment in Sri Lanka’s consumer goods sector and will allow Sunshine Consumer Lanka Ltd to diversify its fast-moving consumer goods (FMCG) portfolio by expanding its operations from branded tea to confectionery, including healthy snacks.

This new investment, amid the economic disruptions caused by the pandemic, will support the domestic confectionery supply chain and help strengthen the overall competitiveness of the country’s FMCG sector.

“IFC’s partnership will allow us grow further through diversification of our businesses and acquisition of a company to expand our presence in the retail sector,” said Vish Govindasamy, Group Managing Director of Sunshine Holdings PLC. “We also plan to use this opportunity to improve product quality for consumers of confectionery, while increasing revenues and overall efficiencies for the Group’s distributors.”

In Sri Lanka, most rural consumers have access only to small grocers and informal markets with limited access to consumer markets. With the urban population accounting for only about 19 percent of the national total—and the consumer demand shifting toward branded and quality packaged food products—increasing market inclusion will be key to enhancing the sector’s competitiveness. Domestic spending on FMCG is estimated by Euromonitor at $5.5 billion, out of which modern retailers represent only around 15 percent.



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Daraz donates Rs. 2 million to ITUKAMA COVID-19 Healthcare and Social Security Fund

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Daraz showcased their perseverance in combatting the effects of the ongoing COVID-19 pandemic through their donation of Rs. 2 Million and the supply of PPE kits to the ITUKAMA COVID-19 Healthcare and Social Security Fund.

The donation was handed over to Prime Minister Mahinda Rajapaksha at the Temple Trees on 19th July 2021, in the presence of the Minister of Youth and Sports, and State Minister of Digital Technology and Enterprise Development, Namal Rajapakse and State Minister of Provincial Council and Local Government, Minister Roshan Ranasinghe. Representing Daraz Sri Lanka were Managing Director, Rakhil Fernando, Chief Operations Officer, Darshika Attanayake and the Head of Administration, and Procurement, Malith Ranadewa.

The ITUKAMA project is a fund raising initiative for the COVID-19 Healthcare and Social Security Fund established by President Gotabaya Rajapaksa to support the mitigation of the spread of COVID-19. Initially established with a donation of Rs 100 million from the President’s Fund, the fund aims at securing the safety of those in the health sector and other essential service providers while facilitating the aid of those made vulnerable by COVID-19. It simultaneously supports the improvement of Sri Lanka’s long term vigilance and preparation for future health emergencies.

Daraz has played an active role in supporting the community through a series of CSR initiatives spearheaded under Daraz Cares, since the onset of the pandemic and will continue to do so by aiding the government of Sri Lanka.

(Daraz)

 

 

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Ceylinco Life opens latest Green branch on company land in Piliyandala

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(Above, from left) Ceylinco Life Chairman R. Renganathan, Managing Director Thushara Ranasinghe and directors Messrs Devaan Cooray, Palitha Jayawardena and Ranga Abeynayake at the opening of the company’s new Piliyandala branch.

 

Ceylinco Life has placed another Green pin on its branch map with the opening of its latest eco-friendly branch in Piliyandala in a purpose-designed building constructed to the environment-friendly specifications adopted for all new branches on company-owned land.

Intended to reduce the Company’s carbon footprint while improving the customer and employee experience, the latest branch is located at No. 192, Horana Road, Piliyandala, on three floors that provide 5,683 square feet of space.

An investment of Rs 54 million, the Piliyandala branch completed in 11 months is designed for optimal use of natural light, is powered entirely by a 20kW solar power system that results in zero consumption of electricity from the national grid, and has its own waste-water recycling system. It is also equipped with the latest energy-efficient artificial lighting and air conditioning systems, has a rainwater harvesting facility and uses minimum amounts of pipe-borne water.

While the construction was designed to require minimum quantities of timber, trees planted in the premises upon completion of the building, further contribute to the Company’s Green agenda.

The building will function as an office for the Ceylinco Life branches in the Piliyandala area. With ample dedicated parking bays for visitors, it is designed to enhance customer convenience. In the same vein, the branch features private discussion rooms to ensure customer privacy within the premises and to deliver specialised customer handling processes by a team of well-trained and experienced employees, the Company said.

A cash deposit machine is deployed at the branch to enable deposits of policy premiums even during non-office hours and on holidays.

Ceylinco Life has been protecting the lives of the residents of Piliyandala and its suburbs via a dedicated branch since 1992. The newest branch is the seventh in the Colombo district to operate in a Ceylinco Life owned building and is the 43rd building owned by the company.

Ceylinco Life is in the process of constructing another Green building for its branch in Ja-Ela. The Company currently owns the buildings housing its offices in Anuradhapura, Trincomalee, Jaffna, Batticaloa, Kandy, Kalutara, Kurunegala, Gampaha, Galle, Matara, Tissamaharama, Negombo, Ratnapura, Kotahena, Mount Lavinia, and Wellawatte, many of which have already been converted to solar energy. New branch buildings purpose-built to the company’s sustainable energy model are those at Horana, Panadura, Wennappuwa, Bandarawela, Chilaw, Kadawatha, Jaffna, Malabe, Divulapitiya, Negombo, and now Piliyandala.

Ceylinco Life operates the largest network of 272 branches in Sri Lanka’s life insurance industry, giving it a physical presence in 142 cities, towns, and villages in every one of the island’s 25 districts.

Ranked the ‘Most Valuable Life Insurance Brand’ in Sri Lanka by Brand Finance and voted the ‘Peoples Life Insurance Service Provider of the Year’ for a record 15th consecutive year in 2021, Ceylinco Life has been Sri Lanka’s leading life insurer for more than half of the 33 years it has been in existence. In 2020, the Company was certified as a ‘Great Workplace’ in Sri Lanka by Great Place to Work®, was named the ‘Best Life Insurer in Sri Lanka’ for the seventh consecutive year by World Finance, and accorded an ‘Honourable Mention’ as one of the ‘Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA), UK.

Ceylinco Life has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance sector for innovation, product research and development, customer service, professional development, sustainability, and corporate social responsibility.

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IRD and SLPA payments via Pan Asia internet banking

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Aligned to its strategy to extend the highest convenience and superior customer experience, Pan Asia Bank is the first bank in Sri Lanka to integrate with the LankaPay Online Payment Platform Common Interface, through which its customers can make payments to the Inland Revenue Department and Sri Lanka Ports Authority via Pan Asia Internet Banking.  

Customers wishing to pay taxes will no longer need to go through the hassle of depositing cheques for tax payments by visiting other bank branches. Instead, by simply logging into the Pan Asia Internet banking facility, they can now make their tax payments at a nominal and fixed transactional fee of Rs. 50/- irrespective of the value of the tax payment. The system supports tax payments up to Rs. 10 billion in value via a single transaction. This innovation offers a convenient, cost-effective and efficient option for taxpayers. 

Facilitated via LankaPay Common Electronic Fund Transfer Switch (CEFTS), these payments will be credited real-time 24X7 x 365. The system provides its participants with the required payment confirmation details on a real-time basis.

LankaClear launched LankaPay Online Payment Platform in 2017 under the direction of the Central Bank of Sri Lanka, with the objective of digitally empowering government agencies by enabling large value transactions to be accepted via digital means.

Pan Asia Bank has been on digital transformation journey and this digital enhancement further strengthens its position as The Truly Sri Lankan Bank that puts customer convenience at the heart of its operations.

 

(Pan Asia Bank)

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