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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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INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

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Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

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94% of consumers in APAC considering the use of emerging payment methods: study

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As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

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ASPI skyrockets to reach 3 ½ weeks high

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Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

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