Minister of Trade, Dr. Bandula Gunawardena visited the LAUGFS Corporation (Rubber) Plant in Horana on October 6. The minister was welcomed by the Group Chairman of LAUGFS Holdings Limited, W. K. H. Wegapitiya, Group Deputy Chairman, Thilak De Silva and Group Managing Director/GCEO, Piyadasa Kudabalage.
Sri Lanka has been able to become a significant player among global rubber exporters with rubber being a key agriculture product and economic export crop. Identifying the business potential in this lucrative industry, LAUGFS Holdings diversified into the rubber industry in 2008 through the establishment of LAUGFS Corporation (Rubber) Ltd., which is specialised in manufacturing industrial solid tyres. The Minister toured the LAUGFS Rubber factory in Horana; and obtained a detailed overview of the manufacturing facility.
With the core pillars of cutting edge technology, sustainable processes and strong ethics, LAUGFS Rubber currently operates one of the most modern and eco-friendly manufacturing plants in the country. The plant in Horana produces a full spectrum of industrial tyres including industrial solid tyres which are used for material handling, construction, mining and support equipment for a multitude of industrial operations. Bolstering these capacities are LAUGFS Rubber’s highly skilled workforce and heavy focus on research and development, including its fully fledged tyre and accessory design facility. In January of 2020 LAUGFS (Corporation) Rubber, unveiled the latest addition to its product portfolio with the Super Solid Loader Grip Tyre, the largest tyre manufactured in Sri Lanka.
LAUGFS Rubber concentrates on maintaining sustainable eco-friendly operations, its facility is outfitted with several environmentally friendly technologies including solar panels for electricity generation, an effluent treatment plant for recycling factory waste and rainwater collection to be used in the manufacturing process.
With a strong commitment to quality and environmentally sound manufacturing practices, LAUGFS Rubber has received the ISO 9001-2015 certification for policy management, ISO 50001-2011 certification for energy management and ISO 14001-2015 for environment management and utilizes globally recognised Total Quality Management (TQM) processes to produce Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) compliant solid tyres of international standards. LAUGFS Rubber tyres are exported to over 36 countries across 6 continents including the United States and Europe and the organization maintains overseas distributions offices in Illinois, USA and Florijnweg, Netherlands.
LAUGFS Corporation (Rubber) Ltd. is planning to construct the second line of production, by adding a new solid tyre plant, which would expand the factory capacity and double its current output. This project is estimated to be completed in two years. In addition to that an industrial pneumatic tyre plant is in the pipelines. The company has already taken steps to expand its distribution network by appointing three new distributors in France, UAE and the West Coast of USA.
LAUGFS Holdings Limited is one of the largest diversified business conglomerates and a trusted and well-loved home-grown business in Sri Lanka. Founded in 1995, LAUGFS today has expanded across 20 industries in Sri Lanka and overseas, establishing a strong presence as a leader and pioneer in the power and energy, retail, industrial, services, leisure and logistics sectors. With 3,500 employees and an annual turnover exceeding Rs. 60 billion, LAUGFS continues to expand and empower millions as a trusted Sri Lankan brand.
Union Assurance empowers its policyholders by introducing free COVID-19 life coverage
Union Assurance PLC being one of the largest insurance solution providers in Sri Lanka has further established their commitment towards the nation by staying true to its promise, ‘Your Life, Our Strength’. In turbulent times such as COVID-19, the company has taken initiative to persevere and adapt by responding to customers’ needs irrespective of the unanticipated circumstances presented.
The free COVID-19 cover has been reinstated to support both existing and new policyholders to ensure additional protection during these uncertain times. The cover provides a free death cover up to a maximum of LKR 1 million per policyholder. This free cover is valid for a period of one month commencing from 02nd November 2020 to 01st December 2020.
Union Assurance was also recognized as one of the first life insurance companies to offer hospital cash benefits for quarantine treatments since the outbreak of COVID-19 in Sri Lanka. The company therefore assures all its valued policyholders this initiative would be continued in which hospitalization per day claims directly resulting from COVID-19 will be considered from 20th October to 31st December 2020.
Amidst grave adversity Union Assurance strives to provide its unwavering commitment in offering the best in class protection coverages to its policyholders while ensuring that their families are financially empowered to face any challenge and uncertainty.
Jude Gomes, Chief Executive Officer of Union Assurance stated, “The COVID-19 pandemic is a global health, economic and social crisis and has affected people from all walks of life. We offer this timely protection cover free of charge to provide our policyholders the added peace of mind that the future of their families will be secured during these uncertain times. The specialty of this cover is that it is not just limited to our existing policyholders but is also offered to new customers and thereby giving Sri Lankans access to secure the future of their families.”
To obtain more information about this free COIVD 19 cover, call the Union Assurance 24-hour hotline on 1330, email: email@example.com; or chat with the company on www.unionassurance.com
Union Assurance is the oldest private life insurer in Sri Lanka, and is a member of the John Keells Group, Sri Lanka’s largest listed conglomerate. Union Assurance completes over three decades of success in the industry with a market capitalization of Rs. 18 Bn, a Life Fund of Rs. 38 Bn and a Capital Adequacy Ratio (CAR) of 434% as at August 2020. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, protection, retirement, and investment needs of Sri Lankans. With 76 branches and an over 3000-strong workforce, Union Assurance continues to invest in people, products, and processes to remain agile and responsive to emerging changes in the Life Insurance industry.
Seylan Bank partners with Mastercard to facilitate MasterCard Payment Gateway Services
Seylan Bank, the Bank with a Heart, recently partnered with Mastercard to integrate MasterCard Payment Gateway Services (MPGS) – a technology platform to enable easy and secure acceptance of a wide range of digital payment methods for Seylan customers.
As the need for digitization of banking products and services grows globally, banks are continuing to evolve their Internet Payment Gateways (IPG) to introduce new technologies offering heightened customer convenience and security of digital transactions. By partnering with Mastercard and facilitating the MPGS platform, Seylan customers, merchants, and industry partners will benefit from a range of features, delivering an enhanced user experience.
Commenting on this, Chaminda Senewiratne – Head of Digital Banking Channels at Seylan Bank said “The MasterCard Payment Gateway Service will transform digital transactions, further eliminating the need for cash payments. We at Seylan Bank, are proud to partner with Mastercard, one of the world’s leading payment platforms to offer our customers the MPGS service. Our customers can now experience an elevated, secure, reliable, and fast digital payment process, making the payment gateway a desirable channel giving merchants a chance to take their businesses global and accept payments from customers through the gateway.
AIA Wealth Planner Krishan Dassanayaka internationally honoured
AIA Insurance’s Wealth Planner, Krishan Wasantha Dassanayaka, has been honoured by the Million Dollar Round Table (MDRT) with an invitation to serve on the Membership Communications Committee (MCC) as Country Chair for Sri Lanka, AIA said in a news release.
The MCC is a network of more than 400 members worldwide who are responsible for promoting MDRT and communicating information to current and aspiring members, companies, and other industry organizations and reporting the needs and concerns of members to the MDRT Executive Committee and MDRT headquarters in the USA.
It is a global and independent association that is internationally recognised as the standard of excellence in life insurance and financial services. MDRT has an overall membership of 72,000 from over 500 companies in 70 countries. Its members are required to generate a certain level of premium, commission and income, and demonstrate professional knowledge, strict ethical conduct and outstanding client service.
AIA said Dassanayake’s was an outstanding achievement both personally and professionally and one which has brought great pride to person and organization.
“With this prestigious new appointment, Krishan will work with the global MDRT team for innovative ideation, groundbreaking implementation and achieving high-quality results,” the release said.
Having joined AIA Insurance as a Wealth Planner in 2003, he has always been a top performer and source of pride to the organisation and had won a host of national awards including the Golden Eagle (2009) and Silver Eagle several times as well as being recognized by AIA as a ‘Premier Wealth Planner’ for six straight years and as a ‘Supreme Wealth Planner’ for four years running.
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