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Litro Gas chairman awarded ‘ceo of the Year’

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Sri Lanka’s national provider of LPG, Litro Gas Lanka Limited was showcased on the international stage when its chairman and CEO, Anil Koswatte was awarded the ‘CEO of the Year’ at the Sri Lanka Best Employer Brand Awards 2020 hosted by the World HRD Congress.

For the 15th consecutive year, The Sri Lanka Best Employer Brand Awards has recognized and feted industry leaders for their exceptional leadership in empowering key stakeholders of their respective companies and the community.

One of the biggest HR award ceremonies in the world acknowledging dynamic business leaders across diverse sectors, the Sri Lanka Best Employer Brand Awards were made on criteria set out by HR professionals and evaluated on core specialties and strengths within the HR sphere.

The award Ceremony was held virtually on November 24, due to the current global COVID-19 pandemic conditions.

Commenting on the Award, chairman and CEO of Litro Gas Lanka Limited, Anil Koswatte states that this award echoes the commitment and dedication of the management and employees at Litro Gas Lanka Limited, whose contribution towards the company’s success, made it all possible.

“The Litro Gas Lanka team is powered by the support of our customers who make everything a possibility for us, our channel partners and our key stakeholders. As a customer centric company, our focus is enhancing and improving the level of service and the product portfolio we deliver to our customers, thereby strengthening our core competencies as the industry leader.”

He further added that the company takes pride in being aligned with the government’s National Policy Framework, ‘Vistas of Prosperity & Splendour’ (Saubhagyaye Dakma) in providing economic benefits to the people.

Several other key awards under various categories and segments were presented to leading Sri Lankan companies and their personnel, highlighting the impact made by Sri Lankan HR professionals in their respective industries.

As the island’s leading provider of LPG, Litro Gas has consistently undertaken a national enterprise of keeping over 04 million Sri Lankan homes supplied with cooking energy, while ensuring the supply of LPG to industrial operations and business entities across various sectors.

The COVID-19 pandemic has seen the Company contribute tremendously towards the economic upliftment of the people by mitigating rising global prices of LPG and maintaining lower prices for consumers thereby passing on a great economic benefit.

The combined efforts of the Litro Gas team and their exceptional dedication during the COVID-19 lockdown was globally recognized with the Argus/WLPGA Award for COVID-19 Resilience presented at the prestigious LPG industry Awards held recently.

The Company operates a wide reach of over 13,000 points-of-sale, 1,500 home delivery hubs and a network of 37 distributors, Litro Gas maintains a dynamic presence that combines with a seamless service of supply throughout the island.

In addition, the Company’s state of the art storage and filling facility at Kerawalapitiya is recognized as one of Asia’s largest filling plants. Litro Gas operates a cylinder refurbishment, cylinder requalification and bulk customer LPG delivery hub in Mabima, Sapugaskanda. The Company also manages a storage facility in Hambantota, giving it an edge in managing an efficient system of LPG delivery across the country.

With a market share of 76% , the Company generates a turnover of Rs 45 billion and operates in a unique position as a State Owned Enterprise enriched with a multinational heritage.



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SLT-MOBITEL AkazaLMS enables corporate employee capability development

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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.

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LIOC shows stability in earnings and margins compared to volatility during previous years

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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.

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Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority

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From left: : Krishantha Pathiraja, Chairman at Palmyrah Development Board, Florian Manderschied, Head Maker at Hatch MakerStudio, Brindha Selvadurai, CEO and Co- Founder, Hatch, Eranga Basnayake, CEO and Chairman of Vocational Training Authority, Mahesh Ariyarathne, Vice Chairman of VTA

The next generation of Sri Lanka’s industry workforce is currently studying at Technical and Vocational Education and Training institutes (​​TVET) all over the country. Since the manufacturing technology is under permanent development, the requirements for TVET graduates have also evolved. In order to address the industry’s needs for skilled and competent workers, the Vocational Training Authority and Hatch MakerStudio have joined forces to pilot an innovative apprenticeship programme.

The apprenticeship programme is designed for students in the field of mechatronics, robotics, automation and CNC-technologies and is focusing on the upskill, entrepreneurial mindset and problem solving capabilities. Together with industry partners, the selected apprentices will undergo a one month training programme at Hatch MakerStudio before being placed in the companies. The programme comprises of:

Product development training

Software and rapid prototyping training

Problem solving and design thinking exercises

During the course of the apprenticeship, Hatch MakerStudio will provide supervision and support for both the apprentices and companies, in order to ensure effective skills development and utilization of working power. Students with their own specific product ideas and business models can choose Hatch MakerStudio as their place of apprenticeship.

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