Largest capacity crane in Sri Lanka unloaded at HIP
Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil projects.
“HIP has earned itself a name for its RORO capabilities and currently we are aggressively promoting the port’s ability to handle all types of vehicles in the international market. The way this heavy equipment was unloaded at the port is a fine example of HIP’s capability. Heavy equipment coming into the port need not be carried on flat racks, but instead moved via trailers which are driven on and off the respective vessels. This notches up our safety factor as well as minimising any accidents. We believe this changes the equation even in the case of transshipment of such equipment and Hambantota International Port is open for this business,” says Tissa Wickramasinghe; the COO of Hambantota International Port Group (Pvt) Limited.
The crawler crane which consisted of 1000 tons of components was unloaded by HIP within a day. The cargo was then transferred to 42 trucks which took the equipment by road in 2 days to the project site in Mannar for assembling.
“HIP is well known for its accident free operations and for maintaining very high standards in health and safety. This is one of the key reasons for the port being a preferred choice when importing heavy equipment that need delicate handling like the crawler crane, which to date is the largest in Sri Lanka. It is the first time Japan exported such a large crane. There are only a few cranes of such capacity in Japan and only three available in the whole of South Asia. We were encouraged when HIP’s marketing team expressed the capabilities of the port, during their visit to Japan, which helped us decide to ship the crane to HIP,” says Keerthi Manthrirathna, Proprietor of Rainbow Lanka (Pvt) Limited, the largest crane rental company in Sri Lanka.
Venora Lanka Power Panels to set up assembly plant in Australia
By Hiran H.Senewiratne
Sri Lanka- based, export- oriented manufacturer, Venora Lanka Power Panels (Pvt) Ltd, with a state of the art electric panel factory at the Export Processing Zone, Biyagama, will set up an assembly plant in Australia.
“Once we set up the electric panel assembly plant in Australia, we will export all our panels from Sri Lanka and that plant will do 30 percent value addition to the product to supply that market, the company’s chairman/ Managing Director, engineer Sagara Gunawardena told The Island Financial Review.
Gunawardena said that the company is a value- addition assembly plant and he would be investing AUS $ 2 million for the project to be set up in Melbourne and hire 100 engineers and other professionals. He explained that the venture has enormous potential.
Venora Lanka provides power panels to mega projects in Sri Lanka and exports to Bangladesh, Maldives, Kenya, Ethiopia, Seychelles and Myanmar. Panel assembling is strictly in compliance with IEC 61439 standards, it was explained.
Gunawardena added: ‘I firmly believe that, being a truly customer focused organization, every employee and every process in the organization has to be aligned behind delighting customers. Therefore, at a time when the country is facing a major dollar crisis, my company would be aiming at bringing dollars into the country, while providing employment for local professionals, especially engineers.
‘At Venora Lanka we do not try to change customers’ mindsets. Instead, we take time to understand what they really want and focus our brand on delivering that. Venora is values- driven first and cost- driven second – creating a unique brand proposition.
‘Since the US dollar rate has come down, it is our concern that importers and suppliers do not change their prices, which is really affecting the manufacturing sector.
Company sources added: ‘The company has several wings of operation, such as local and overseas projects, switch board assembling, telecommunication infrastructure installations, earthing, lighting and surge protection, incorporating world renowned brands.
‘Venora Lanka Power Panels is the first Sri Lankan company to receive the licence, in accordance with the UK Trade Mark Act 1994, to use the trade mark “Best Enterprise”. It won a global award at the event, ‘Golden Awards for Quality and Business Prestige’, held in Geneva, Switzerland, in 2015.
‘Within a short span of time, with the perfect blend of progressive thinking and expertise, Venora Group has expanded to consist of, Venora International Projects, Venora Telecom, Venora Industrial Solutions and Venora Lanka Power Panels (BOI approved). Further, Venora has established its overseas presence through Venora Engineering Kenya and Venora Engineering Myanmar.’
Share market moves into positive territory; indices up
By Hiran H. Senewiratne
CSE trading got off to a positive note yesterday but during the last session of the day the momentum slowed. However, the market is now moving towards positive territory following the Central Bank announcement of a downward trend in interest rates, market analysts said.
Amid those developments the market witnesses improvements in both indices and in the turnover.
The All- Share Price Index up by 12.8 points and S and P SL 20 rose by 6.97 points. Turnover stood at Rs 710 million with one crossing. The crossing was reported in JKH which crossed 430,000 shares to the tune of Rs 60.2 million; its shares traded at Rs 140.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 212 million (1.5 million shares traded), Access Engineering Rs 44.7 million ( three million shares traded), Lanka IOC Rs 34.5 million (264,000 shares traded), Browns Investments Rs 28.6 million (5.3 million shares traded), LOLC Finance Rs 23.8 million (4.7 million shares traded), Capital Alliance Rs 22.9 million (615,000 shares traded) and First Capital Holdings Rs 19.2 million (574,000 shares traded). During the day the 31.4 million shares volumes changed hands in 9000 transactions.
Yesterday, the Central Bank’s US dollar buying rate was Rs 285.16 and the selling rate Rs 298.85.
Ceylinco Life appoints new COO and Deputy COO to strengthen leadership pipeline
Ceylinco Life has announced the appointments of Ranga Abeynayake and Samitha Hemachandra as Chief Operating Officer and Deputy Chief Operating Officer respectively, following the creation of the two positions as part of the Company’s leadership pipeline for the next decade and beyond.
Abeynayake has been with Ceylinco Life for 25 years and is an Executive Director and the Company’s Deputy Chief Financial Officer, while Hemachandra has been with the Company for 23 years and is the General Manager – Marketing.
“These appointments add further strength and depth to the management structure and look at our leadership requirements for the next 10 to 15 years,” Ceylinco Life Chairman R. Renganathan said. “Transparent and long-term succession planning is extremely important in the financial services sector, ensuring seamless continuity and consistency for all stakeholders.”
Ceylinco Life Managing Director and CEO Thushara Ranasinghe added: “Ranga Abeynayake and Samitha Hemachandra have been part of the management team that achieved market leadership for Ceylinco Life in 2004 and maintained that leadership to this date, unbroken for 19 years. They represent the core values and the vision and mission of the Company, and will be fully supported by the Board of Directors and the management team as they are groomed for key leadership positions.”
A Fellow Member of the Institute of Chartered Accountants of Sri Lanka and of the Institute of Certified Management Accountants of Sri Lanka, Ranga Abeynayake counts over 25 years of experience in handling key management positions in the areas of Finance, Risk Management, Strategic Planning, Treasury Management and Project Planning. He holds a Master of Business Administration (MBA) from the Postgraduate Institute of Management (PIM) of the University of Sri Jayewardenepura. Abeynayake previously served as Chairman/Non-Executive Director of Citizens Development Business Finance PLC., and currently serves as a Non-executive Director of Ceylinco Insurance PLC and as a Director of Serene Resorts Limited.
A Fellow (FCIM) and Chartered Marketer of the Chartered Institute of Marketing (CIM) – UK, and of the Certified Management Accountants (CMA) – Australia, Mr Samitha Hemachandra counts over 20 years of work experience in Brand Management, Customer Relationship Management, Marketing Management and Strategic Planning. He has been directly involved in designing, developing and implementing many integrated marketing campaigns for Ceylinco Life. Mr Hemachandra holds a Master of Business Administration (MBA) from the University of Western Sydney – Australia. He is a past Chairman of the Marketing and Sales Forum of the Insurance Association of Sri Lanka (IASL) and has been a member of the judging panel of the SLIM Brand Excellence awards for many years.
He is currently a Director of Ceylinco Healthcare Services Ltd., and a Non-executive Director of Citizens Development Business Finance PLC (CDB), which are subsidiary and associate companies of Ceylinco Life.
Adjudged Sri Lanka’s ‘Brand of the Year’ and ‘Service Brand of the Year’ by the Sri Lanka Institute of Marketing (SLIM) and ‘Best Life Insurer in Sri Lanka’ by World Finance for the ninth consecutive year in 2022, Ceylinco Life was conferred the ‘Peoples Life Insurance Service Provider of the Year’ title at 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence. The Company was also ranked the ‘Most Valuable Life Insurance Brand in Sri Lanka’ by Brand Finance and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022. Ceylinco Life has close to a million lives covered by active policies and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.
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