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Rajendra Theagarajah appointed Chairman of Digital Reality Pvt Ltd

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Mandated to lead the Board of SL’s first ever High Density Data Centre

Envisages world class data hosting services and value-added services to enterprises, SMEs and startups

Set to attract regional clientele to Sri Lanka with Tier 3 certified offshore data hosting services

Data centre located at Orion City to go live early in Q2FY2021

Digital Reality (Pvt) Ltd, a joint venture between St. Anthony’s Property Developers (Pvt) Ltd. (SAPD) and Dialog Broadband Pvt Ltd, announced the appointment of respected banking veteran, technologist and business transformation specialist, Rajendra Theagarajah as Chairman, a company news release said.

Theagarajah has been charged with leading its board as Digital Reality gears up for the launch of Sri Lanka’s first and most advanced High Density Data Centre, at Orion City, and ultimately, securing mandates for data hosting services from leading corporates, SMEs, and startups as well as offshore hosting for large corporates across South Asia, it said.

“All of us at Digital Reality are proud to welcome Thea on board. During his time in the banking industry, he has spearheaded powerful technological transformations which laid the IT and operational foundation for the innovations in digital banking that are now coming online across the island. This ability to leverage technology, and deliver results while commanding the respect and admiration of the entire corporate sector will be the catalyst to a new era in Sri Lankan IT capabilities,” Digital Reality Director and CEO, Jeevan Gnanam said.

Established through a US$ 5 million investment between Dialog Broadband Pvt Ltd and SAPD, Digital Reality’s upcoming 200 rack High Density Data Centre will offer globally competitive Tier 3 class infrastructure services to support the rapidly escalating demand for computing power in an increasingly digital Sri Lankan economy. The new center is expected to go live during the second quarter of 2021.

“Sri Lanka is a nation that is blessed in many ways, but especially with IT, we are yet to scratch the surface of this nation’s true potential. The fact that we are now able to establish Tier 3 certified data hosting services that are globally competitive, and yet significantly more cost effective than countries like Singapore and Hong Kong, will yield immense opportunities.

“Our ultimate goal is to position Digital Reality to serve as the IT backbone for Sri Lankan enterprises of all sizes, as well as delivering the most reliable offshore data hosting and disaster recovery services for entities across South Asia,” incoming Digital Reality Chairman, Rajendra Theagarajah stated.

Theagarajah will be ably supported in his mission by an illustrious Board of Directors including Dialog Axiata PLC Group Chief Executive Officer, Supun Weerasinghe, Dialog Axiata Group Chief Technology Officer, Pradeep De Almeida, Orion City founder, technologist and serial entrepreneur, Jeevan Gnanam, and WNS Founding Director, Eric Selvadurai.

Theagarajah further noted that with major new developments such as the Colombo Port City, as well as the increasing demand for sophisticated IT infrastructure in Sri Lanka, Digital Reality would be well positioned to support the digitalization journeys of Sri Lankan corporates. Meanwhile, the island’s historically low levels of seismic activity, strong global IT connectivity through multiple submarine cables and extremely competitive cost structures would make it an ideal choice for international organizations and investors alike.

Digital Reality’s entire High Density Data Center will be optimally located at the Orion City IT Park in Colombo, providing a particularly valuable option for Sri Lankan enterprises seeking a convenient, cost-effective site for their primary data centers. This central location will enable easy access, world-class supporting infrastructure with strong capabilities to serve emerging and established economic hubs in Colombo and in the areas around the Bandaranaike International Airport.

In addition to the data center and related managed services, Digital Reality will also offer disaster recovery solutions and aims to launch a portfolio of value-added services, ultimately enabling a new breed of technologies such as AI, Machine Learning and Data analytics to help accelerate the digitalization of Sri Lanka.

 

 



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Galadari Colombo awarded ‘SLIM People’s Hotel Brand of the Year 2021’

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The Galadari Colombo was given a thumbs up from the people as the People’s Hotel Brand of the Year for the second time running at the recently concluded SLIM (Sri Lanka Institute of Marketing) People’s Awards 2021.

The uniqueness of the SLIM People’s Awards is the fact that it is awarded by the public which shows the popular choice of the Sri Lankan people.

This is the 15th successful running of the much-anticipated event conducted by SLIM in association with Nielsen which is globally renowned for its measurement and consumer insights.

Having stood the test time of time in the hospitality industry for more than 3 decades the Galadari Colombo is hopeful to remain in the hearts of its people as a brand that is trustworthy and dedicated to service.

 

 

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Expatriates’ organization painting competition for Sri Lankan children from care homes highlights close India-Sri Lanka ties

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Celebrating 75 years of India’s independence in Sri Lanka, Sri Lankan children from care homes converged in Colombo from all across Sri Lanka over 10-11 April 2021 for the final round of the nationwide painting competition organized by Colombo Expatriates Cultural Association (CECA) – a voluntary organization of expatriates consisting of mainly Indians – with support of the High Commission of India, Ministry of Education of government of Sri Lanka and several other partners.

Prof. G.L Peiris, Minister of Education was the Chief Guest and Gopal Baglay, High Commissioner of India was the Guest of Honour at the final round. Several other dignitaries including State Minister Piyal Nishantha were also present. The dignitaries lauded the effort as a shining example of strong people-to-people ties between India and Sri Lanka and stressed the enormous significance of the enriching experience for the children.

The competition was held in three categories – Sub Junior, Junior and Senior. The first round of the competition had seen enthusiastic participation of 4,375 students from child care homes across Sri Lanka. Contestants from all provinces who had produced sixty best paintings were invited along with one care-giver for the final round held in Colombo on April 10 at Hotel Taj Samudra. While top three winners in all the three categories were awarded SLR 100,000, SLR 75,000 and SLR 50,000 respectively in addition to various other gifts, certificates and medals, all the 60 finalists received cash awards, desktop computers, and other gifts contributed by various sponsors.

The event also formed part of ‘India @ 75’ celebrations in Sri Lanka which comprise events and activities in the run up to completion of 75 years of India’s Independence in August 2022. Prime Minister of India Shri Narendra Modi had launched these celebrations in India on March 12 2021, 75 weeks before the 75th Anniversary of Independence. In Sri Lanka, formal launch of these celebrations had taken place on April 9 2021 with the inauguration of ‘India Corner’ at the Nagananda Institute for Buddhist Studies.

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Chrissworld to raise Rs. 56.25 million through IPO

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By Hiran H.Senewiratne 

Chrissworld Ltd. (CWL), an SME company  engaged in the provision of third-party logistics (3PL) services, is gearing to raise up to Rs. 56.25 million via an initial public offering (IPO) on the Colombo Stock Exchange, sources said.

The company plans to offer 7,500,000 Ordinary Voting Shares for subscription at Rs. 7.50 per share. The subscription will open on April 27, with Atara Capital Partners representing the company as managers to the issue.

Meanwhile, the CSE noted in a statement that it has approved an application submitted by Chrissworld Ltd. for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE.

The company,  starting off with Rs. 6 million capital in 2019, expanded its capital to Rs. 22.5 million and projects to obtain Rs. 79 million after the IPO.

Chrissworld will be earmarking milestones with the IPO as the first to be listed on the Empower Board, CSE’s newest listing platform, dedicated to SMEs. Further, Central Depository Systems (Pvt.) Ltd., a subsidiary company of CSE, will step in for the first time as the registrar to the issue.

Amid those developments the CSE  started  on a bullish note yesterday and during the latter part of the day with heavy retail investor participation the CSE witnessed a bullish trend. It is said that manufacturing sector counters became the most popular stocks during the day. Notable price appreciation was reported in Hayleys Group, Royal Ceramic Group and  Distilleries.    

Both indices moved upwards. The All Share Price Index went up by 100.10 points and S and P SL20 rose by 49.18 points. Turnover stood at Rs. 3.51 billion with a crossing. The crossing was reported in JKH, which crossed 1.32 million shares to the tune of Rs. 199.3 million and its share price was Rs. 151.

In the retail market, companies that mainly contributed to the turnover were; Royal Ceramic Rs. 511.2 million (1.46 million shares traded), Expolanka Holdings Rs. 359.9 million (4.5 million shares traded),  Hayleys Group Rs. 359.9 million (4.5 million shares traded), Dipped Products Rs. 321 million (5.5 million shares traded), JKH Rs. 290 million (1.9 million shares traded), and Haycarb Rs. 177 million (1.5 million shares traded). During the day 87.8 million share volumes changed hands in 23900 transactions.

Hayleys shares appreciated by Rs. 6 or eight percent. Its shares started trading at Rs. 75.90 and at the end of the day they moved to Rs. 82. Royal Ceramic shares appreciated by Rs. 13.5 or nine percent. Its shares started trading at Rs. 328.25 and at the end of the day they moved to Rs. 358.75. Expolanka shares appreciated by Rs. 2.70 or five percent. Its shares  started trading at Rs. 49.70 and at the end of the day they shot up to Rs. 52.40 and Distilleries shares appreciated by 70 cent or 3 percent from Rs. 20.20 to Rs. 20.90  

Sri Lanka’s rupee quoted steady at 202.00/203 to the one month US dollar Monday, while gilt yields remained unchanged, dealers said.

The rupee last closed in the one-week forward market at 202/203 to the US dollar on Friday. Sri Lanka markets were dull as seasonal bliss kicks in.

 

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