Connect with us

Business

LOLC listed among the LMD Hall of Fame

Published

on

LOLC Group Managing Director/CEO, Kapila Jayawardena receiving the award from Hiran Hewavisenti, Editor-In-Chief of LMD. Also in the picture is Anil Boudewyn, Sales Director of LMD.

LOLC has been listed amongst the LMD ‘Hall of Fame’ of the Most Respected Entities for 2021. The award was recently presented to LOLC Group Managing Director/CEO, Kapila Jayawardena by Hiran Hewavisenti, Editor-In-Chief of LMD.  The globally diversified financial conglomerate took the first place in the LMD 100’s profitability ranking. LOLC secured this position based on another year of stellar financial performance.

The 17th annual edition of the LMD Most Respected, ranks the nation’s most admired corporations. The LMD Most Respected entities in Sri Lanka is commissioned and conceptualised by LMD, and conducted by NielsenIQ. This year’s Most Respected special edition continued with the revised methodology from 2019 for ranking entities whereby NielsenIQ’s exclusive survey for LMD to gauge peer perceptions employed a weighted ranking system.

Laying claim to being Sri Lanka’s most valuable globally diversified financial conglomerate, the LOLC Group posted a record-breaking performance for the 2020/21 financial year, achieving a colossal Rs. 57 billion in profit before taxes. This feat is the first for any corporate in Sri Lanka, achieved amidst a challenging economic environment.

Commenting about the achievement, LOLC Group Managing Director/CEO, Kapila Jayawardena said, “LOLC has strategically diversified into different industries and across borders, targeting and penetrating new and growing markets, and that has provided us a unique competitive edge. The most vital pillar for us is our strong operational backbone. Further, LOLC has always been conscious of its reputation, and strives to maintain an impeccable record. That is why within a span of just 10 years, LOLC has become a global leader in microfinance, and we take pride in it because no other organisation matches our footprint in this sphere”.

Having established a high performance microfinance business model, LOLC rapidly exported its expertise to global markets such as Cambodia, Myanmar, Indonesia, Philippines, Pakistan, Zambia, Nigeria, Malawi, Tajikistan and Tanzania, bringing prosperity to people at the bottom of the pyramid. In addition, the Group has established its footprint in the Maldives, Mauritius and Sierra Leone in the arena of Non-Financial Services. Over the years, the Group has been backed strongly by Development Finance Institutions and multilateral funding lines, which reflects the confidence these global entities place in the Group’s sustainable operations. Sustainability is embedded in the Group’s ethos and embodied in its transparent, fair, equitable and beneficial products and services that are uplifting the lives and livelihoods of people, giving them hope for a brighter tomorrow. The LOLC Group is on an accelerated growth trajectory and is inspired by the quest to nurture and shape the future of individuals and communities across the world. (end)



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Australia and Sri Lanka further strengthen ties with launch of new joint maritime security operation

Published

on

Australian and Sri Lankan dignitaries at the launch

Australia and Sri Lanka’s commitment to countering maritime security threats has been on display with the launch of a new joint maritime security operation in Colombo recently.

A joint media release between the Australian Border Force and the Department of Sri Lanka Coast Guard said: ‘Aptly named Disi Rela, which means “keeping a watchful eye over the maritime environment,” the new joint activity will see the Australian Border Force (ABF) and Department of Sri Lanka Coast Guard (SLCG) undertake a week-long programme of work, from Dikkowita to Chilaw.

‘Commander Joint Agency Task Force Operation Sovereign Borders, Rear Admiral Brett Sonter, RAN said that Disi Rela underscores the strong partnership between the two countries.

‘We often refer to the Australian-Sri Lankan relationship as gold standard. Today’s launch of Disi Rela takes it to a platinum level. I am looking forward to the opportunities it presents to our respective countries with regards to countering maritime security threats,” Rear Admiral Sonter said.

‘Disi Rela involves the sharing of operational capabilities and information between the ABF and SLCG, including raising community awareness about people smuggling, human trafficking, and other maritime crime types.

‘Director-General of Department of Sri Lanka Coast Guard, Rear Admiral Pujitha Vithana commented that Disi Rela provides a platform to build stronger community awareness about maritime security threats.

“As the name Disi Rela suggests, it is everyone’s responsibility to keep a watchful eye over our maritime regent environment. In other words, Sri Lankans from all levels of society have an important role to play,” Rear Admiral Vithana said.

‘The community can report any suspicious or illegal maritime activities that occur anonymously through a dedicated hotline, 041 750 1400, 24 hours a day, seven days a week.

“We are proud to be working alongside Sri Lanka Coast Guard as we work together to face shared challenges and achieve our shared goals. Disi Rela is proof that the Australian and Sri Lankan relationship continues to grow from strength to strength,” Rear Admiral Sonter added.

Continue Reading

Business

Cloé Café, ‘where every cup tells a story’, now in Nawala

Published

on

The Deputy High Commissioner for Australia in Sri Lanka Ms. Lalita Kapur at the opening ceremony

Cloé Café, an Australian-inspired haven for coffee enthusiasts and culinary connoisseurs, recently opened its flagship location at No. 196, Nawala Road, Nawala. The opening ceremony was held under the patronage of Deputy High Commissioner for Australia in Sri Lanka Lalita Kapoor and several other guests.

Nestled on the ground floor of the WishQue Head Office, Cloé Café promises to deliver a unique experience that celebrates the art of coffee and culinary excellence. With a tagline of “An Australian roast where every cup tells a story,” Cloé Café brings the rich heritage of Australian coffee culture to the vibrant streets of Sri Lanka. As a subsidiary of WishQue, a leading e-commerce platform, Cloé Café aims to redefine the café experience by offering a curated selection of award-winning coffee roasts sourced directly from Australia.

The café features an extensive menu that caters to diverse tastes, including a variety of coffee-based beverages, bubble tea range, and new Asian flavours tailored to local palates. Guests can also indulge in a delectable selection of confectionery, including celebration cakes crafted by WishQue Bakery, well-known for serving the best cakes in town. In addition to its culinary offerings, Cloé Café boasts a modern contemporary design with a touch of luxury and coziness. The spacious seating area is adorned with live plants, creating a vibrant atmosphere for guests to enjoy their coffee. For those seeking a more exclusive experience, the café offers a Business Suite where guests can pre-book for business meetings or gatherings, complete with free Wi-Fi and a five-star dining experience. Cloé Café is also available on popular ride-hailing platforms such as Uber and PickMe for added convenience. Apart from being a coffee destination, it is also a space for community, creativity and celebration.

Continue Reading

Business

X-Press Feeders garners top accolade as #1 Feed Operator

Published

on

Arjuna Hettiarachchi, Managing Director of X-Press Feeders Sri Lanka, receives the award for #1 Feed Operator of the Year from Nimal Siripala De Silva, Minister of Ports, Shipping & Aviation.

X-Press Feeders, the world’s largest independent feeder carrier announced its triumph as the recipient of the #1 Feed Operator Award at the Colombo Ports Awards 2024, underscoring X-Press Feeders’ commitment to excellence and innovation within the maritime industry.

The award selection criteria, as outlined by the Colombo Ports Awards committee, spotlighted X-Press Feeders’ outstanding performance in terms of the total volume of fleet liners handled. The company’s dedication to understanding clients’ needs and delivering reliable and efficient solutions, coupled with its ability to navigate global challenges, has positioned it as a frontrunner in the industry. This marks the third consecutive year that X-Press Feeders has secured this honour.

X-Press Feeders has played a pivotal role in transforming the Port of Colombo into a regional hub, providing a wider feeder network that covers 15 services over Colombo. This strategic expansion has not only enhanced connectivity but has also reinforced Colombo’s position as a key maritime gateway in the region.

Continue Reading

Trending