LB Finance renowned as the undisputed leader in the non-banking financial institution sector has stepped up to support the nation in combating the COVID-19 pandemic. LB finance pledged profoundly with the community for nearly five decades of service while persistently growing as a socially responsible corporate citizen in Sri Lanka.
LB Finance acted upon strengthening the nation by donating high quality US Brand Hamilton C3 model mechanical ventilators and ICU beds manufactured in Switzerland which costs over Rs.25 Million, to the Cardio Therapeutic ICU of the National Hospital of Kandy on the 12th of November 2020. The official handing over of this donation was graced by AGM – Human Resources Mr. Prasanna Kalinga, Chief Manager – Central Region Mr. Gayan Ayuwadana, other senior staff members and staff of LB Finance in the Central region with presence of the Acting Director – National Hospital of Kandy Dr. Erasha Fernando and staff of the hospital.
Through several other initiatives, LB Finance pledged their support to fight against COVID-19 pandemic. The main prominence of the initiative was to support the health authorities tackle the COVID-19 context with ease. This will also enable the expansion of operations conducted by the health authorities to aid the patients of various other ailments and ensure the community is served.
“With this initiative we at LB Finance are honored to offer support to the health sector in order to combat the second wave of COVID-19 pandemic by strengthening the availability of medical facilities that are scarce. We also thank the efforts made by the health sector, tri-forces, police and other front-line activist for their contribution provided to control the spread of the virus”, said Mr. Sumith Adhihetty Managing Director of LB Finance PLC. Mr. Adhihetty further expressed that LB Finance intends to donate more of these ventilators in the near future in order to facilitate the battle against the current pandemic.
“On behalf of the Medical fraternity we highly appreciate the contribution made by LB Finance at this critical juncture and undoubtedly these ventilators donated will not only help combat the COVID-19 pandemic but will also be beneficial in-order to treat patients with other ailments”, said Dr. Erasha Fernando, Acting Director – National Hospital of Kandy. Dr. Fernando further explained that Hamilton C3 model mechanical ventilators are of very high standards which is the most preferred ventilator brand by the health sector and this is the first instance that the National Hospital of Kandy has received Hamilton Brand ventilators. This compact high-end ventilator that consist of unique intelligent ventilation modes such as Adaptive Support Ventilation (ASV) that includes the optional INTELLiVENT-ASV which automatically controls the patient’s ventilation and oxygenation based on targets set by the clinician and on physiologic input from the patient, Protective Ventilation (P/V) Tool for lung assessment and recruitment, Integrated high flow oxygen therapy inclusive of a range other advanced features such as on-screen help for alarm troubleshooting and Integrated high-performance turbine. With these high-tech user-friendly features the Hamilton C3 model mechanical ventilators suitable for all adult, pediatric, and neonatal ventilation provides better safety for the patients receiving treatment while help reduce the duration for recovery.
NSB introduces special credit scheme for shrimp farming industry
National Savings Bank (NSB), in collaboration with one of its fully owned subsidiary, Sri Lanka Savings Bank(SLSB), has planned to introduce a special loan scheme to offer credit facilities under a lower interest rate with a view to accelerating the development of shrimp farming industry in Sri Lanka.
Shrimp farming industry in Sri Lanka, which came into being around 30 years ago, could be identified as a higher value generating sector among the industries based on aquaculture in the country.
With the objective of achieving a sustainable development in shrimp farming industry in the country, Sri Lanka Aquaculture Development Alliance has been established 15 years back and the permanent members of this organization will be able to obtain loan facilities within a value range of Rs. one Million to Rs. 100 Million under this loan scheme.
This Alliance comprises of 18 farmers’ societies, breeding center societies, seafood societies and shrimp feed societies in Puttlam District, in which the shrimp farming industry is mainly centralized. The Alliance operates the shrimp farming industry, in coordination with the National Aquaculture Development Authority of Sri Lanka, the main state sponsored organization mandated for the task of development of the aquaculture and inland fisheries sector in Sri Lanka and other government institutions. Further, the membership of this alliance represents the entire shrimp farming industry of the country.
Lanka Realty Investments acquires controlling shares of On’ally Holdings
CSE turnover almost Rs 3.5 billion
By Hiran H.Senewiratne
Lanka Realty Investments Plc has acquired 50.8 percent of the issued capital of Colombo Stock Exchange (CSE) listed On’ally Holdings Plc for Rs 1.42 billion.
With the transaction Renula Capital and Lanka Reality Investments share prices appreciated significantly yesterday, stock market analysts said.
On’ally Holdings Plc announced that Lanka Realty Investments Plc has acquired 50.8 percent ( 47,244,050 shares) of the issued capital (93,003,087 shares) of the company with the purchase of shares made on 3rd December 2020 at a price of Rs.30.20 per share.
Meanwhile, in a separate filing Renuka Capital Plc announced that it has sold and disposed of 40,754,820 Ordinary Shares (43.821 percent ) held by the Company in On’ally Holdings Plc to Lanka Realty Investments Plc at a value of Rs.30.20 per share on the CSE. Renuka Capital PLC is the second largest shareholder of On’ally Holdings Plc.
The turnover stood at Rs 3.44 billion with two crossings mainly; On’ally Holdings crossing which contributed 42 percent to the turnover and Access Engineering. On’ ally 47.2 million shares crossed for Rs 1.43 billion and its share price was Rs 32.20 and Access Engineering one million shares crossed for Rs 25 million and its share price was Rs 25.
With the transaction Renuka Capital share price appreciated by more than 50 percent or Rs 2.50 . Its share price startered trading at Rs 5 and at the end of the day it moved upto Rs 7.50. Lanka Reality share Price share price moved up by 13 percent or Rs 4.60. It’s share price startered trading at Rs 34.40 and at the end of the day it moved up to Rs 39.
In the retail market top five companies that mainly contributed to the turnover were JKH Rs 141.5 million (945,000 shares traded), Expolanka Rs 135.7 million (5.2 million shares traded), Melstacorp Rs 128 million (three million shares traded), Access Engineering Rs 123.3 million (4.9 million shares traded) and Renuka Capital Plc Rs 121.7 million (18.5 million shares traded).
Amid those developments both indices moved upwards i.e. All Share Price Index up by 17.26 points and S and P SL20 up by 8.81 points up. The share volume that transacted during the day was 22487. According to stockbrokers that market sluggish and the latter part of the day it picked up following the major crossing.
SLT and Mobitel launch Green Premier League 2020
SLT and Mobitel together began an exemplary green initiative project simultaneously with Sri Lankan Premier League (LPL) 2020 called “SLT – Mobitel Green Premier League” (GPL), as a sustainable environmental conservation project. According to the winning score of each team in every match of the LPL, SLT and Mobitel will take necessary actions to plant the equivalent number of plants as forest restoration at Rajawaka forest reserve in Kalthota, Balangoda. Thus, by the end of the LPL tournament, SLT and Mobitel will have taken the necessary actions to plant possibly around 4000 plants in the forest reserve and would have arranged a sustainable maintenance program with the Forest Department in accordance with UN sustainable developments goals. This would be a pioneer project within the context of any cricket premier league in the world!
From the 26th of November 2020 till the 16th of December 2020, SLT and Mobitel will be conducting this remarkable initiative aiming to increase the forest cover in Sri Lanka by planting these trees in 6 hectares in Rajawaka Forest reserve, which has identified as a rich biodiversity site and also the major water catchment area for the Samanalawewa reservoir. With an island-wide reach as the national telecommunications service provider, SLT hopes to inspire sports fans and the youth of the country to undertake their own steps towards environmental conservation and sustainability. SLT will continuously monitor this project in the next two years with the support of the Forest department to ensure the desired outcomes.
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