Netsys Solutions (Pvt) Ltd, one of the leading system integrators in Sri Lanka, proved its excellence once again by being honored with “Emerging ICT Company of the Year” Award at the South Asian Business Excellence Awards 2021 ceremony. The annual event organized by the South Asian Business Excellence Awards Organization, in recognition of remarkable achievements in the business world, was held recently at Hilton, Colombo with former President Maithripala Sirisena and Minister Dayasiri Jauyasekara gracing the occasion as chief guests. Thusitha Alwis, CEO, Netsys Solutions Industries received the prestigious award at the gala awards night. ”This achievement would have been impossible without the dedication of all at Netsys as a team. Therefore, I would like to take this opportunity to appreciate the contribution of all our employees with a high sense of gratitude.” Commenting on the receipt of the highly prestigious award, Mr. Thusitha Alwis, CEO, Netsys Solutions stated.
Netsys Solutions started off as a company focused on structured cabling solutions and became a trusted solutions provider to many leading corporates within a short period, serving a large number of clients including star class hotels, telecom operators, banks, government institutions, manufacturing industries and large enterprises. Netsys has a team of certified and experienced specialists who have implemented structured cabling solutions for companies all over Sri Lanka, from SMB to large enterprises and service providers. The company’s forte is to offer cutting edge solutions and has heavily invested in the latest technological tools and their people to ensure that they are able to complete any complex projects anywhere in the region on time and within agreed budgets. Netsys also offers all other related solutions such as PA Systems, CCTV Solutions and UPS Smart Power Solutions as turn-key projects to their clientele. Netsys has extended its service portfolio to numerous areas such as network infrastructure, compute virtualization, storage infrastructure & disaster recovery, network security, WAN edge/ SD-WAN technologies and IT consultancy.
Having completed quite a lot of successful implementations as turnkey active networking and systems solutions to customer requirements; designing, planning, delivery and post-sales support of the Netsys team has proven to be efficacious towards customer satisfaction. Netsys already carries experience and reference in new SD-WAN solutions delivered to the customer with benefits such as calculated cost reduction of branch network links, automated expansions and provisioning, central branch network management and analytics for compliance and ease of administration while ensuring a proper value-proposition towards customer perspective in growth and stability. Their latest entry is into the Fintech industry, offering smart payment solutions using the latest Android based card and non-card based POS devices. Netsys’s success lies in the fact that it appreciates customer success above everything and provides a quality service, speedy delivery and competitive pricing. Having established strong strategic alliances with world class technology companies and experienced in handling sophisticated large-scale projects, program management processes and support systems that streamline and standardize operations. Netsys Solutions is capable of providing end-to-end solutions for companies of all sizes.
Seven factors of concern at upcoming Monetary Policy Review
by Sanath Nanayakkare
The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.
In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.
* Foreign Reserves USD 3.1 billion – Dec 2021
* Inflation CCPI 12.1% – Dec 2021
* GDP Growth -1.5% – 3Q2021
* Private Credit LKR 60.5 billion – Nov 2021
* 03M T-Bill rate 8.38% as at 12.01.22
Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion
Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21
First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.
“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.
As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.
First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.
However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.
Sri Lanka’s dash brand enters international markets
Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.
Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,
Janaka Abeysinghe appointed SLT CEO
Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.
The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.
Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.
In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.
He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.
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