Leading mobile phone & accessories brand, OPPO, in a recent statement noted that 2021 was a challenging year which also ushered in many opportunities for the brand to forge ahead with ingenuity & innovation. 2021 marked OPPO’s 17th year in business and the brand particularly reflected on its journey from being a mobile phone manufacturer to a trailblazer in the industry over a short span of ten years.
In 2021 OPPO earned the “EISA BEST PRODUCT ADVANCED SMARTPHONE 2021-2022” for its flagship Find X3 Pro Smartphone, for the second consecutive year, which is a testament to the brand’s commitment for excellence. Locally OPPO celebrated its 5th year anniversary of the partnership with leading home & electronic appliances retailer Abans PLC by renewing the contract for further three years.
Commenting about the journey over the past year, CEO of XINDA Lanka (OPPO Sri Lanka) Bob Li said: “We are very thankful for the growing support & loyalty from our local clientele. We look forward to offering you more & better in 2022 in keeping with our vision to make technology affordable & accessible to all.”
The CEO teased about the launch of a new exciting product at the beginning of the new year which he said he was confident will be received well by the local market given its unparalleled capabilities.
OPPO unveiled many impressive innovations in 2021 including: AR application CybeReal powered by real-time spatial computing, next-generation Under Screen Camera (USC) technology, ColorOS12 operating system which is one of the first OEMs to run on Android 12, self-designed Imaging NPU MariSilicon X and OPPO Air Glass which is equipped with OPPO’s self-developed Spark Micro Projector & a bespoke diffraction optical waveguide display.
Globally, OPPO debuted its first foldable flagship smartphone this year – OPPO Find N – following four years of extensive Research & Development. Locally, OPPO unveiled the OPPO F19 Pro with a sleek outlook & optimized user experience, OPPO Air True Wireless Earphones for an unparalleled listening experience and the all-new OPPO A16 for seekers of style cum functionality.
OPPO’s other significant feats during the year in review include becoming the first smartphone brand to partner the Parisian Grand Slam Roland-Garros, hosting OPPO Renovators 2021 to promote art & culture through technology, collaborating with celebrity architect Kengo Kuma to create the installation “Bamboo Ring: Weaving a Symphony of Lightness & Form” which was displayed in Milan’s Cortile dei Bagni courtyard during Milan Fashion week, partnering with Riot Games to sponsor the League of Legends World Championship 2021 and being part of the ICC T20 World Cup of 2021 as a Prime Sponsor. OPOP is one of ICC’s global partners and has covered numerous championships & tournaments since 2016.
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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