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Mission to help build Sri Lanka

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UTE Celebrates 75 Years of Industry Excellence

United Tractor and Equipment (Pvt) Limited (UTE) celebrated 75 years of industry excellence on March 22, 2022, continuously delivering the highest quality engineering solutions and unmatched service support for Sri Lanka. Helping to Build the Nation, UTE has been a trusted partner for infrastructure development in Sri Lanka, infallible through its various ups and downs as an independent nation.

Commenting on the milestone reached by the company founded by his Great Grandfather, W. D. Fernando, Chairman of United Tractor & Equipment (Private) Limited, Prasan Fernando said: “As a company with a 75-year-old history, UTE represents the resilience of the nation that reaches 75 years since independence, navigating many setbacks with Sri Lanka and achieving a multitude of victories. Over the years, we have established market leadership across numerous industries we serve. More importantly, we have forged partnerships with many other world leading brands, and currently host an impressive portfolio of international market leaders. We continue to stand by our customers, enjoying deep seated relationships with them, living true to our mission; ‘The Journey Continues…Long After the Sale.”

Founded by W. D. Fernando in 1947, whose main purpose was handling the Sales and After Sales Service of the Caterpillar (CAT®) Tractor Company in Ceylon, UTE is an intergenerational powerhouse that continues to prioritise relationships in its corporate culture. Driven by an entrepreneurial spirit, UTE is still family-owned and places relationships at the heart of its business culture. The majority of the firm’s customers and contractors have been doing business with the company for a long time, and they have consistently contributed to the company’s goal of collaborating to create a world-class customer experience.

“As a prominent construction firm in Sri Lanka, it is critical for us to select the finest engineering solutions from a well-established company that also provides comprehensive solutions and exceptional after-sales service. So far, our experience with UTE has been excellent, and we have received service beyond our expectations. The team has been very simple to deal with and coordinate with, throughout work and emergency situations. NEM chooses UTE CAT because of their 75-year established track record in the industry and the degree of after-sales care they provide for the machines we now possess. Our best wishes to UTE on their anniversary, and we hope to maintain our enduring relationship.”, said the Chairman/Managing Director of NEM Constructions, Raja Nanayakkara.

UTE has a long-standing collaboration with Caterpillar and is now recognized as one of the oldest CAT® dealers in South Asia, as well as the first Sri Lankan firm to import heavy construction machines. Focusing on operational excellence and living up to its purpose with their top-notch customer service, the company is the lone Sri Lankan candidate in the Superbrands® ‘General Machinery’ category, providing the finest quality engineering solutions and unrivalled service support for over seven decades, positing it as the only firm that can supply the broadest assortment of single brand machinery.

UTE represents world class brands in its portfolio including Caterpillar, JLG, Dexion, Flexi, BT, Raymond, Cigweld, SEM – a Caterpillar brand, UTP Welding, Enerpac, ESAB, FS Curtis, CIGWELD, Bohler Welding, Hytsu, Fuji Electric, Caterpillar Lubricants, DID Chains and others. It provides Construction & Earth moving equipment, Diesel Power Generators, Warehouse and Material Handling, Welding, Air Compressor, Energy, Solar, MEP, Filtration, Equipment Rental and Pre-owned Equipment Solutions to the market with extensive product support and Remote Monitoring with customer centric IOT solutions.

The UTE Parts Store/PCC (Parts.Cat.Com) is the fastest, easiest and most reliable website to find and order over 1.4 million genuine CAT® parts online. Orders can be placed 24/7 with the mobile-friendly interface and the parts will be shipped to any location in the island or can be picked up from any of UTE’s branches.

The company is home to the Island’s most experienced and largest team of Customer Support personnel and Caterpillar trained technicians in the industry. Serving customers throughout the island, the company has branches in Panchikawatta, Matara, Kurunegala, Anuradhapura and Kilinochchi adding to its strength.



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Sri Lanka’s economic confidence index plummets

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‘No one has rated Sri Lanka’s economic condition as excellent. 1.8 % rated it as good and 1.3 % rated it as getting better. The resulting score was a (-) 96. This rating was (-) 83 in January 2022, a wide ranging Verite Research public opinion survey reveals.

Key findings of the survey:

Government approval rating drops from 10% to 3%

The second round of the Gallup Style “Mood of the Nation” poll was conducted in June by Verité Research. It assessed the approval, satisfaction, and confidence of the nation in relation to the government, the country, and the economy.

The poll was conducted as a part of the syndicated survey instrument by Verité Research. This instrument also provides other organisations the opportunity to survey the sentiments of Sri Lanka.

1. Government approval rating | 3% | To the question, “Do you approve or disapprove of the way the current government is working?” only 3% said they approve. In January 2022 this rating was at 10%.

2. Sri Lanka satisfaction | 2% | To the question, “In general, are you satisfied or dissatisfied with the way things are going in Sri Lanka?” only 2% said they were satisfied. This rating was at 6% in January 2022.

3. Economic confidence | negative (-) 96 | Multiple choice questions on the condition and trajectory of the economy are used to generate an economic confidence score. The score can range from negative (-) 100 to positive (+) 100. A score above zero means more people see the economic conditions positively rather than negatively. If everyone thinks the economy is in either excellent or good condition, and everyone also thinks it is getting better, the score will be (+) 10. If everyone thinks that the economy is in a poor condition, and everyone also thinks it is getting worse, the score will be a (-) 100. No one rated the economic condition as excellent. 1.8% rated it as good; and 1.3% rated it as getting better. The resulting score was a (-) 96. This rating was (-) 83 in January 2022.

Implementation of “Mood of

the Nation”

The poll is based on an island wide nationally representative sample of responses from 1,052 Sri Lankan adults, conducted in June 2022. The sample and methodology was designed to ensure a maximum error margin of under 3% at a 95% confidence interval. The polling partner was Vanguard Survey (Pvt) Ltd.

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Decline in share market in the wake of rate hike reports

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By Hiran H.Senewiratne

CSE trading activities began on a positive note yesterday but during the latter part of the day the market experienced a dip on account of the overall supply chain economy being subjected to a contraction, stemming from the fuel crisis. Consequently, CSE activities were relatively low keyed, market analysts said.

“We are reverting to the negative. There is uncertainty on all fronts, from the political to the economic. Therefore, we are expecting a rate hike on Thursday. This is creating a bit of a cloud and we may see this continuing further, a top market analyst said.

Even if top level decision- making is happening in Sri Lanka the impact is not felt at the grassroots level. This has resulted in unrest in the country, the analyst said.

Amid those developments, both indices moved downwards. The All- Share Price Index went down by 97.9 points and S and P SL20 declined by 34.3 points. Turnover stood at Rs 1.3 billion with one crossing. The crossing was reported in JKH, which crossed 600,000 shares to the tune of Rs 73.2 million, its shares traded at Rs 122.

In the retail market, the top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 611 million (7.3 million shares traded), Expolanka Holdings Rs 173.9 million (one million shares traded). LOLC Holdings Rs 47.4 million (120,000 sha4es traded), Hayleys PLC Rs 46.5 million (697.000 shares traded), Browns Investments Rs 46.3 million (6.4 million shares traded), JKH Rs 21 million (173,000 shares traded) and Softlogic Holdings Rs 20.5 million (794,000 shares traded). During the day 109 million share volumes changed hands in 15000 transactions.

The International Monetary Fund said last Thursday its talks with crisis-hit Sri Lanka had been “constructive”, thereby raising hopes it would soon grant preliminary approval for a desperately needed financial support package, observers said.

Meanwhile, the Colombo Consumer Price index rose 54.6 per cent year-on-year in June against a 39.1 per cent rise in May, according to the Statistics Department.

Yesterday the US dollar rate was Rs 360.73, which is now being controlled due to the prudent fiscal and monetary policies of the Central Bank.

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Dialog Club vision members receive access to an exclusive screening of ‘Jurassic World Dominion’

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In a bold and breath-taking new global adventure, the epic conclusion to the Jurassic film franchise ‘Jurassic World Dominion’ hit theatres across the world on June 10. Just a day after its global premiere, Dialog Club Vision Red members and their loved ones received special access to an exclusive screening of the film at the Kandy City Centre Multiplex on June 11.

The explosive end to the Jurassic era sees two generations of the film’s franchise unite for the first time with Hollywood’s Chris Pratt and Bryce Dallas Howard joined by Oscar winner Laura Dern, Jeff Goldblum and Sam Neill. Dialog Club Vision members were some of the first to witness the utopian world where Dinosaurs and humans co-exist.

With the best interests of its members and their loved ones at heart, Dialog Club Vision continues to deliver a world of exclusivity and privileges such as personalized care, exclusive discounts and offers, lifestyle and entertainment events and more. To explore more exciting offers available for Dialog Club Vision members, and to learn more about Sri Lanka’s premier loyalty programme, customers can visit the MyDialog App or visit dialog.lk/club-vision

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