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Kids & Teens Medical Group strengthens BPO ops in Sri Lanka

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By Hiran H. Senewiratne

Kids & Teens Medical Group, one of the largest and leading Pediatric Primary Care Centers in Los Angeles, California, at eleven locations and operating successfully for over 15 years, will strengthen its Business Process Outsourcing or BPO operations in Sri Lanka.

The Kids & Teens Medical Group’s BPO operation center based in Negombo will be expanded by an additional 300 staff soon. At present 200 youth are working at the Negombo center, its Director Berni Leonidas said.

“Kids & Teens Medical Group, USA, will increase their staff strength to nearly 500 to help grow their patient base with quality care in the USA. Therefore, the Negombo center in Sri Lanka is doing a great service to us and has great potential to develop further, he told The Island Financial Review.

The Sri Lankan workforce that operates at the BPO center in Negombo are very skillful and professional in handling US operations, prompting them to increase their workforce to 500, he said.

In a bid to raise the medical standard in Sri Lanka and introduce novel patterns to the sector we partnered with McLaren’s Group in bringing Kids & Teens to Sri Lanka, he said.

“Our goal is to increase awareness of medical conditions, prevention of health problems and have patients returning for ongoing care. We will do this by practising simple pediatrics and follow-up will make the difference, Director Leonidas said.

In Sri Lanka, we will also offer Adult Care under the brand Healthy Life. Dr Kayathri Periasamy founded Healthy Life 7 years ago and we are happy to announce that she has agreed to join us, he said.

“Sri Lanka has wonderful physicians and medical staff. What has been missing is a blueprint on workflow to treat primary care services outside the local hospital and we hope to create this through this venture. Our Sri Lankan location will be modeled on the same workflow and technology as in the USA, he said.

Leonidas added: “We will work with the local hospitals to concentrate on acute care that needs hospitalization and concentrate on Simple Primary care whether it’s Pediatrics or General Practice.

“When a patient walks into our offices their paper medical records will be scanned into our electronic medical records system and they will be stored in the cloud; hence patient medical records will be accessible anywhere in the world.

“We will also offer 24/7 video teleconferencing medical assistance which is a first and novel experience to Sri Lanka.

“Our CEO, Sunil De Silva together with his wife Dr Janesri De Silva own and operate the largest Pediatric Primary care centers in Los Angeles, California at 11 locations, now going on 15 years and to support these operations we are increasing our high paying local staff.

“Both left Sri Lanka 50 years ago looking for high paying jobs and they don’t want the present generation to follow in our footsteps and this is another reason for us to increase employment in our BPO center in Negombo.”



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Business

Seven factors of concern at upcoming Monetary Policy Review

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by Sanath Nanayakkare

The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.

In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.

* Foreign Reserves USD 3.1 billion – Dec 2021

* Inflation CCPI 12.1% – Dec 2021

* GDP Growth -1.5% – 3Q2021

* Private Credit LKR 60.5 billion – Nov 2021

* 03M T-Bill rate 8.38% as at 12.01.22

Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion

Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21

First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.

“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.

As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.

First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.

However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.

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Business

Sri Lanka’s dash brand enters international markets

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Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.

Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,

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Business

Janaka Abeysinghe appointed SLT CEO

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Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.

The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.

Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.

In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.

He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.

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