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Panasian Power PLC records 63% increase in net profit for FY20/21

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The commissioning of a total of 6.75MWp of solar projects across the country was a key development that propelled paved Panasian Power’s path to a successful financial year

Panasian Power PLC one of Sri Lanka’s leading green energy solutions providers, posted a consolidated net profit of Rs 248 million for the financial year ending March 31st 2021, signifying a growth of 63% compared to the financial year in 2019/20. The Group saw a revenue increase of 62% in the final quarter of the year 2020/21 when compared with the corresponding quarter in FY 19/20. Net profit margin also grew year on year by 7%.

Key highlights for the year that paved Panasian Power’s path to a successful financial year was the commissioning of a total of 6.75MWp of solar projects across the country amidst difficult operating conditions given the global Covid crisis. This included a 3MWp ground solar project in Matara, and 3.75MWp of rooftop solar projects, along with the completion of pre-development for 2MWp of ground solar projects.

Speaking on the organization’s exceptional performance and pipeline developments, Panasian Power Chief Executive Officer, Pathmanatha Poddiwala said, “These results, including our consistent performance over the years are a testament to the company’s strategic plan and growth measures. Although the past financial year has been challenging given the global pandemic, we have focused on our priorities, and our diversification efforts through solar projects as well as retail of Sungrow inverters have gained traction. We will continue to grow value for our investors and are committed towards our contribution for a sustainable future for our country.”

Overall, for the year, the team at PAP highlighted their expertise in renewable energy development, with solar power projects continuing to be the focal point of the company strategy. Panasian Power currently has a series of high-performing solar power projects in its portfolio totalling 13MWp and a total generation capacity of 22MW, including hydro power. The company also engaged in revenue diversification with focus on the EPC segment, which yielded positive results, beating internal forecasts.



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SLT-MOBITEL powers ANANKE IoT Services to shine at Globee® Awards

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SLT-MOBITEL, the National ICT, Telecommunications and Mobile Services Provider, is proud to announce its partner ANANKE IoT Services (Pvt) Ltd has been conferred a Gold award under the ‘Start-up of the Year – IT Category’ at the 16th Annual 2021 IT World Awards. Organizers of the world’s premier business awards programs and business ranking lists, The Globee® Awards; recognised ANANKE IoT’s Smart Bins Project, powered by NB-IoT technology from SLT-MOBITEL, the undisputed leader of IoT services and related digital transformation in Sri Lanka.

SLT-MOBITEL’s NB-IoT network enables the entire device connectivity chain of the Smart Bins Project and is Sri Lanka’s only such network to-date. NB-IoT is the GSMA standard for Low-Power-Wide-Area Internet of Things connectivity, which is particularly suited to ensure the battery life of a sensor extends to up to 10 years. As the only telco to offer this advanced technology in Sri Lanka, SLT-MOBITEL was perfectly positioned to support ANANKE IoT Services for quick deployment of its Smart Bins solution. This is the first large-scale NB-IoT enabled hardware project in Sri Lanka and utilizes, ANANKE IoT’s in-house built proprietary platform. (SLT)

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Dialog Television extends access to Nenasa and Guru TV education channels free of charge

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Furthering its efforts to ensure that no child is left behind in continuing their education, Dialog Axiata Group, Sri Lanka’s premier connectivity provider, extended free access to its education bouquet Nenasa Sinhala, Nenasa Tamil and Guru TV channels through Dialog Television and ViU App.

Despite the learning loss that ensued the pandemic, Dialog remains committed in its resolve to ensuring that children across the country have equitable access to education. Both Dialog Television prepaid and postpaid customers can access these channels for free. Nenasa Sinhala (Ch. 24) and Nenasa Tamil (Ch. 25) cover grade 3 to 13 Government syllabi, while Guru TV (Ch. 22) covers grade 5 to 13 Government syllabi, all conducted by qualified teachers with immersive, engaging and innovative teaching techniques. Furthermore, this education channel bouquet and over 160 supplementary lessons and educational content can also be accessed via ViU App on any smartphone, ViU Hub and ViU Mini for free, without any data charges on the Dialog network.

Commenting, Chirantha De Zoysa, Head of Business – Dialog Television said, “Extending Nenasa Sinhala, Nenasa Tamil and Guru TV education channels for free is part of our overarching efforts in providing schoolchildren across the country with equitable access to education to achieve their aspirations. While the pandemic has magnified the disparities in education and underscored the importance of inclusive education, Dialog remains resolute in continuing to bridge this gap.”

This is yet another initiative by Dialog in its continued efforts of supporting students across the country with their educational endeavours. In addition to this initiative, Dialog powers a range of educational platforms under the Nenasa initiative; Nenasa TV, Nenasa Smart School, Nenasa App and the toll-free Nenasa 1916 distance learning helpline. Dialog also endeavoured to provide 100,000 schoolchildren in need with Data Scholarships under the ‘NanaDiri Data Scholarship’ programme to facilitate their online learning from home. Furthermore, the company extended free access without any data charges to e-Thaksalawa, the National Learning Content Management System (LCMS)/Learning Management System (LMS) and to all official e-Learning platforms of State Universities under the purview of the University Grants Commission.

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Allianz Insurance and HSBC Sri Lanka partner to offerworld-class insurance products to HSBC Premier customers

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Allianz Insurance Limited (Allianz Lanka) has entered into an agreement with HSBC Sri Lanka to offer the bank’s affluent customers two world-class insurance products with flexible 0% installment plans, namely Global Health Medical Insurance that provides high quality healthcare services worldwide, and Student Companion to provide insurance solutions for students travelling overseas for education. These new offerings are part of a 10-year exclusive bancassurance distribution agreement signed between the Allianz Group and HSBC covering key markets in Asia such as Australia, China, Indonesia, Malaysia, Taiwan and Sri Lanka.

In recent times, increases in the cost of living and unexpected medical expenses due to the pandemic, have put pressure on many customers and their families. Due to these uncertainties, customers are looking for the assurance of a safety net, which protects their loved ones, both locally and overseas. Value added services such as international family care support with access to advice from overseas doctors/international care specialists have proven to be even more valuable today for customers.

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