Embarking on an ambitious drive to expand its existing portfolio, Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy Group, recently introduced ‘Permaweld’ brand welding electrode for all general purpose welding requirements.
Permaweld brand welding electrodes will be distributed island-wide by the hardware division of Laxapana Batteries PLC, another subsidiary of the Group which has an undisputed reputation in the lighting business in Sri Lanka for over 70 years, providing the industry’s broadest lines of various commercial and residential fixtures.
Pravin de Silva, CEO of Lanka Special Steels Ltd, said. ‘It is with great pleasure that we launch the new “Permaweld” welding electrode range to the Sri Lankan market. And joining this incredible journey with us is the well respected and reputed Laxapana Batteries PLC as our sole distributor. We look forward for a strengthening relationship that will reach greater heights in the future.’
‘We are very confident of Permaweld as the new welding electrode has already gained high tractions with the product being accepted remarkably well by the welders throughout the country. This new addition along with all other products manufactured by Lanka Special Steels has created a rich product basket for our distributors throughout,’ said Thusitha Kuruppu, Manager- Laxapana Hardware Distribution.
Laxapana Batteries PLC is a leading LED lighting solutions provider, having pioneered the application of LED technology in the industry back in the early 20s. Its range of products is manufactured with quality, reliability and solid performance to provide highly energy-efficient, long-lasting and versatile light sources.
Established in 1995, Lanka Special Steels Ltd had today evolved to a trusted name in wires across many industry sectors especially in the booming construction sector of Sri Lanka. The company’s distinctive service and superior products is well reflected in its repetitive and loyal customer base. Its well qualified and experienced team continuously strives in championing highly personalized solutions to each order and each client. It is an ISO 9001: 2015 and SLS 139: 2003 certified company.
Lanka SSL very recently also strengthened its long-standing partnership with TATA Steel Ltd’s Global Wire India (GWI), being the sole agent and distributor in Sri Lanka for all of its premium quality wire products.
SLT-MOBITEL AkazaLMS enables corporate employee capability development
As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.
Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.
Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.
LIOC shows stability in earnings and margins compared to volatility during previous years
First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.
“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.
“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”
“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.
Lanka Hospitals Academy partners with NSBM Green University
to offer clinical training for nursing undergraduates
Lanka Hospitals Academy has partnered with NSBM Green University to launch a professional clinical training programme for nursing undergraduates of NSBM. The initiative will offer prospective undergraduates of NSBM’s nursing degree programme an opportunity to obtain hands-on training in a fully equipped real-world clinical setting through Lanka Hospitals Academy, under highly experienced and qualified medical professionals. The mutually beneficial partnership is aimed to facilitate and enhance skill development in the practice of nursing, which is vital for the career development of nurses in the nursing workforce and the healthcare industry at large. The partnership with NSBM is the latest initiative by Lanka Hospitals Academy, which aims to optimize synergies with its industry stakeholders.
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