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Ogilvy Group wins big at Campaign Asia’s Agency of the Year Awards 2021

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Ogilvy Digital wins Gold for ‘Rest of South Asia Digital Agency of the Year’

Phoenix Ogilvy wins Bronze for ‘Rest of South Asia Creative Agency of the Year’

The Phoenix Ogilvy Group returned to international fame yet again, bagging two highly coveted awards at Campaign Asia’s Agency of the Year Awards 2021 South Asia.

Campaign Asia-Pacific’s Agency of the Year Awards celebrate the people, the work and the businesses achieving outstanding success in media, marketing and advertising. The awards highlight strong leadership, creativity and innovation, stellar new business performance, the development of talent, and contribution to the industry; and is open to agencies from across the South Asia region.

Ogilvy Digital seized the top spot among digital agencies, continuing its consistent streak in the category, winning Gold for the ‘Rest of South Asia Digital Agency of the Year’ Award. The agency has bagged the Silver and Bronze Awards in this category in previous years.

Meanwhile Phoenix Ogilvy brought home the Bronze for ‘Rest of South Asia Creative Agency of the Year’.

Speaking on the wins Irvin Weerackody, Chairman, Phoenix Ogilvy Group said, “2021 has been a year of trials and tribulations for businesses in Sri Lanka and the rest of the world, with both the Company and our Clients working together to overcome the challenges of the pandemic. These awards underpin our strength and capability to rise above difficult circumstances and to craft unique messages and winning campaigns for our clients”.

Ogilvy Digital retained pole position this year, building on the achievements of the past year, to cap the year off with an astounding 98% growth in billing and 57% growth in revenue. The company’s unique combination of technical prowess and creative output enabled its superior performance, maintaining the happiness of all existing clients by providing premium services and winning multiple new businesses during this time.

“Ogilvy Digital has distinguished itself from the outset as the digital agency that was about people. This focus helped us almost double our growth from Oct 2020-Sep 2021, amidst an economic crunch and the global impact of COVID-19,” commented Lalith Sumanasiri, Managing Director of Ogilvy Digital. “We recruited 57 new employees in that time. While the rest of the industry was cutting salaries and laying off people, we were able to offer the biggest ever salary increase in our history. It is heartening that our strategy paid off with off-the-charts growth, and happy clients.” He added.

Phoenix Ogilvy’s Bronze for ‘Rest of South Asia Creative Agency of the Year’ was awarded for achieving new business and revenue despite the headwinds of an economic downturn caused by the global pandemic. The Award is recognition to the fearless creativity that shapes the company’s DNA, making it one of Sri Lanka’s leading creative agencies for over two decades.

Overall, the Ogilvy network in Asia concluded the Awards show with a Gold for South Asia Creative Agency of the Year.



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Cabinet approves rationalization of VAT exemptions and abolition of SVAT System

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The Cabinet of Ministers granted concurrence to the resolution forwarded by the Minister of Finance, Economic Stabilization and National Policies to remove most of the releases from Value Added Tax (VAT), further retaining releases that ease the pressure on low – income families to secure the fundamental sectors of the economy as well as the releases for sectors such as education, health and agriculture, as well as to revise the provisions applicable for the Value Added Tax (VAT) act so that the Simplified Value Added Tax (SVAT) methodology can be canceled with effect from 01.01.2024 by introducing a more formal methodology for repaying the Value Added Tax (VAT) and to instruct the Legal Draftsman to prepare a draft bill for the purpose.

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Venora Lanka Power Panels to set up assembly plant in Australia

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Sagara Gunawardene

By Hiran H.Senewiratne

Sri Lanka- based, export- oriented manufacturer, Venora Lanka Power Panels (Pvt) Ltd, with a state of the art electric panel factory at the Export Processing Zone, Biyagama, will set up an assembly plant in Australia.

“Once we set up the electric panel assembly plant in Australia, we will export all our panels from Sri Lanka and that plant will do 30 percent value addition to the product to supply that market, the company’s chairman/ Managing Director, engineer Sagara Gunawardena told The Island Financial Review.

Gunawardena said that the company is a value- addition assembly plant and he would be investing AUS $ 2 million for the project to be set up in Melbourne and hire 100 engineers and other professionals. He explained that the venture has enormous potential.

Venora Lanka provides power panels to mega projects in Sri Lanka and exports to Bangladesh, Maldives, Kenya, Ethiopia, Seychelles and Myanmar. Panel assembling is strictly in compliance with IEC 61439 standards, it was explained.

Gunawardena added: ‘I firmly believe that, being a truly customer focused organization, every employee and every process in the organization has to be aligned behind delighting customers. Therefore, at a time when the country is facing a major dollar crisis, my company would be aiming at bringing dollars into the country, while providing employment for local professionals, especially engineers.

‘At Venora Lanka we do not try to change customers’ mindsets. Instead, we take time to understand what they really want and focus our brand on delivering that. Venora is values- driven first and cost- driven second – creating a unique brand proposition.

‘Since the US dollar rate has come down, it is our concern that importers and suppliers do not change their prices, which is really affecting the manufacturing sector.

Company sources added: ‘The company has several wings of operation, such as local and overseas projects, switch board assembling, telecommunication infrastructure installations, earthing, lighting and surge protection, incorporating world renowned brands.

‘Venora Lanka Power Panels is the first Sri Lankan company to receive the licence, in accordance with the UK Trade Mark Act 1994, to use the trade mark “Best Enterprise”. It won a global award at the event, ‘Golden Awards for Quality and Business Prestige’, held in Geneva, Switzerland, in 2015.

‘Within a short span of time, with the perfect blend of progressive thinking and expertise, Venora Group has expanded to consist of, Venora International Projects, Venora Telecom, Venora Industrial Solutions and Venora Lanka Power Panels (BOI approved). Further, Venora has established its overseas presence through Venora Engineering Kenya and Venora Engineering Myanmar.’

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Share market moves into positive territory; indices up

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By Hiran H. Senewiratne

CSE trading got off to a positive note yesterday but during the last session of the day the momentum slowed. However, the market is now moving towards positive territory following the Central Bank announcement of a downward trend in interest rates, market analysts said.

Amid those developments the market witnesses improvements in both indices and in the turnover.

The All- Share Price Index up by 12.8 points and S and P SL 20 rose by 6.97 points. Turnover stood at Rs 710 million with one crossing. The crossing was reported in JKH which crossed 430,000 shares to the tune of Rs 60.2 million; its shares traded at Rs 140.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 212 million (1.5 million shares traded), Access Engineering Rs 44.7 million ( three million shares traded), Lanka IOC Rs 34.5 million (264,000 shares traded), Browns Investments Rs 28.6 million (5.3 million shares traded), LOLC Finance Rs 23.8 million (4.7 million shares traded), Capital Alliance Rs 22.9 million (615,000 shares traded) and First Capital Holdings Rs 19.2 million (574,000 shares traded). During the day the 31.4 million shares volumes changed hands in 9000 transactions.

Yesterday, the Central Bank’s US dollar buying rate was Rs 285.16 and the selling rate Rs 298.85.

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