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Samsung refrigerators: It’s more than a fridge

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Modern built-in inspired designs elevate the kitchen experience, enhancing home living

With all-new updates and developments, Samsung Sri Lanka brings to you top-notch and high-tech refrigerators to keep your groceries cool and fresh for longer in this hot humid summer and power cut situations.

One of the most well-received products in Samsung’s extensive range is the premium range SpaceMax Series (Side-by-Side). You can store more food with the SpaceMax refrigerator’s spacious ranging from 660L to 700 liter interior. Its unique SpaceMax technology enables the walls to be much thinner whilst still ensuring optimal insulation, creating more storage space without increasing the external dimensions.

The Samsung Digital Inverter Compressor lasts longer while saving energy up to 50%. Unlike conventional compressors, Samsung’s Digital Inverter Compressor automatically adjusts its speed in response to cooling demand, thus using less energy, while minimizing noise and reducing wear and tear. It is also certified for 21 year lifespan durability and guaranteed by a 10-year warranty.

Further, it gives your kitchen a sleek and minimalist look with the stylish counter depth design and beautiful flat doors with recessed handles that blend seamlessly with your kitchen for a completely harmonious look. You can freeze or chill your food rapidly with the Power Freeze and Power Cool options, all done with a simple push of a button. Ideal for chilling your favorite drinks or firming up ice cream in a flash.

The refrigerator also comes with a large water tank for its Non-plumbing Ice & Water Dispenser, which does not require a water filter. Meanwhile, the Auto Ice Maker gives you extra storage space by freeing up freezer shelf space while allowing you to automatically make, store and enjoy ice at your convenience. Its compact design also frees up extra storage space for food, without compromising on the amount of ice produced.

A large capacity Vege Box provides a convenient space to store a large amount of fresh vegetables and fruits. And because it’s so big, it’s so much easier to find everything – the all-in-one place to access your vegetables or fruits at just one glance.

Under step-up models, Samsung has its Twin Cooling/Convertible Series. This locks in moisture, seals in freshness through Twin Cooling Plus Technology which has two independent cooling systems to ensure the right temperature and humidity level up to 70% is maintained throughout the fridge (compared to 30% in a conventional Top Mount Freezer), so no matter where food is stored, it stays fresh.

Food odors can change the taste of frozen foods and affect the flavors of finished dishes. Twin Cooling Plus is a truly independent cooling system, with separate airflows in both the fridge and freezer. This prevents unpleasant smells from foods moving between the fridge and freezer, ensuring the original flavor of ingredients stored in the freezer remains odorless.

It also provides 5 possible Conversion Modes for flexible storage. You can easily convert your freezer into a fridge to keep all the fresh food you need to store for different seasons or special occasions. Or just switch to off the fridge compartment when leaving home for a long vacation. The five modes are Freezer-Fridge, Energy Saving, Vacation, Fridge Max and Mini mode.

In addition to this it rapidly delivers intense cold air to fast freeze or cool. At the touch of a button, Power Cool quickly chills food and drinks, while Power Freeze is great for freezing or firming up frozen food and making ice.

Backed by a 10-year warranty, Samsung guarantees the durability of its Digital Inverter Compressor. Digital Inverter Technology automatically adjusts the compressor speed in response to cooling demand across 7 levels. It uses less energy, minimizes noise and reduces wear and tear for longer-lasting performance Samsung Digital Inverter Compressor lasts longer while saving energy up to 50%. Unlike conventional compressors, our Digital Inverter Compressor automatically adjusts its speed in response to cooling demand, thus using less energy, while minimizing noise and reducing wear and tear.

Samsung also possesses a range of Single Door Refrigerators, which has a truly distinctive Grande door design. It enhances the look of the refrigerator with a fine line aesthetically placed towards the bottom to add a sleek and elegant look to your kitchen. Your food and fresh groceries are now much easier to find with safe and power efficient brighter lamp inside the fridge.

Its Stabilizer Free Operation means it works very steadily and reliably to prevent electrical damages in case of any voltage fluctuations it automatically cuts off the power. Further, its Safe Clean Back is a smooth safety cover for its internal vital components that can be easily wiped clean.

The Samsung refrigerator range starts at a price point of Rs.58,999 and is available for purchase at Samsung’s authorized dealers partners Softlogic, Singer, Singhagiri, Damro and Samsung e-Store.



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SL’s hard default status impacts CSE negatively

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By Hiran H. Senewiratne

The CSE slipped in the first hour of trading yesterday after opening over 2.0 per cent up due to SJB lawmaker Dr Harsha de Silva informing that Sri Lanka has now become a hard default country with the failure to pay loans raised from other countries, stock market analysts said.

Sri Lanka’s impending default on US $12.6 billion of overseas bonds is flashing a warning sign to investors in other developing nations. Besides surging inflation is set to take a painful toll. The current petrol crisis has driven the CSE to negative territory, analysts said.

Following the previous day’s momentum, the market opened the day gaining over 2.28 per cent or 192.88 points. Amid those developments, the All- Share Price Index slipped 0.39 per cent or 40.44 points and S and P SL20 went down by 7.76 points. Turnover stood at Rs 3.5 billion without a crossing.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 1.1 billion (8.86 million shares traded), Browns Investments Rs 585 million (66.7 million shares traded), LOLC Finance Rs 527 million (49.5 million shares traded), Softlogic Life Insurance Rs 169 million (2.3 million shares traded), Softlogic Holdings Rs 145 million (16.3 million shares traded), LOLC Holdings Rs 116 million (210,000 shares traded) and Lanka IOC Rs 87.1 million (21 million shares traded). During the day 268 million share volumes changed hands in 33659 transactions.

The country’s manufacturing and services sectors suffered a sharp dip in April as per the Purchasing Managers Index (PMI) compiled by the Central Bank.

The manufacturing PMI decreased by 21.4 points as against March whilst the Services PMI was down by 7.5 points. CBSL said the Manufacturing PMI declined significantly in April 2022, following the seasonal pattern and indicating a contraction in manufacturing activities on a month-on-month basis. This would impact the manufacturing and services sector counters in the stock market, analysts said

Sri Lanka’s commercial banks quoted Rs 364 for the dollar against telegraphic transfers yesterday while the Central Bank set a daily guidance rate for interbank spot trade for Rs 359.65 plus or minus Rs 2.50.

Banks could quote Rs 2.50 plus or minus under the new direction and the rate is set below the market rates. The kerb rate has also eased after spiking last week.

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ComBank’s ‘Anagi’ partners with insurance companies to offer affordable insurance to female customers

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The Commercial Bank of Ceylon has announced it has partnered with several insurance companies to offer special Life and General insurance products with unmatched low premium rates exclusively for women customers, under the Bank’s ‘Anagi Women’s Banking’ portfolio.

Extending the scope of the Bank’s services to support this segment, the insurance cover comprises of Life insurance, Business insurance, and Home insurance options, the Bank said.

Besides the special premium rates that apply, the insurance can be obtained via an extremely simplified process, and can be extended to the spouses of women customers. The Bank said the scheme is expected to promote financial inclusion, one of the primary objectives of the Anagi Women’s Banking portfolio, through insurance protection.

The policy value of the Life insurance cover provided under this scheme ranges from Rs 1 million to Rs 5 million and covers eventualities of ‘natural and accidental death’ of the life assured during the policy period.

Under this Life insurance facility, a female customer of Commercial Bank between the age of 18 and 45 can sign up for a Rs 1 million policy by just paying an annual premium of Rs 1,100. The spouse can obtain the same policy for Rs 1,500. Women between ages 46 and 65 can opt for the same sum assured with an annual premium of Rs 2,200, if the policy is taken for themselves, or Rs 2,750, if the policy is taken to cover the spouse. The cover can be purchased at multiples of the unit rates of Rs 1,100 or Rs 2,200.

Quoting the 2020 report of the Insurance Regulatory Commission of Sri Lanka (IRCSL), the Bank said these are incredibly affordable life insurance policies for women, considering that the average sum assured in Sri Lanka is only Rs 1.4 million for which long term insurance policyholders pay an average annual premium of Rs 28,655.

Commercial Bank’s female customers who become life insurance policyholders under this scheme are also entitled to value added services such as access to free fitness classes conducted by leading online fitness provider Fitzky, and a 15% discount on consultations at any ‘My Dentist’ clinic, the largest dental clinic chain in Sri Lanka.

In addition to the life cover, business women can also benefit from a Business Insurance under ‘Anagi.’ It offers protection against fire or lightning, explosions, malicious or aircraft damages, a series of natural disasters, burglary, acts of terrorism and commotions among other incidents. The policy covers losses to buildings including permanent fixtures, fittings, machinery, stocks, cash, and personal property of the policyholder and the cost of workmen’s compensation, hospitalisation, loss of rent, removal of debris, architect’s, surveyor’s, and engineer’s fees due to damage or accidents, and damage to service lines, to name a few. It also includes Personal Accident cover for employers and employees in the event of death or permanent disability, as well as legal liability cover.

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LOLC General Insurance named Best General Insurance Company of the Year

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Ushan Goonawardane, Chief Strategy Manager, LOLC General Insurance accepting the award in Kolkata, India from Sudhin Roy Chowdhury, a Jury Member.

The 3rd Emerging Asia Insurance Awards 2021, recognized LOLC General Insurance PLC as the ‘Best General Insurance Company of the Year’ amongst the top Insurance companies nominated from South-East Asia. The evaluations were done by PricewaterhouseCoopers (PwC), the multinational professional service network and the event was held ceremonially on the 30th of April 2022 in Kolkata, India.

The Indian Chamber of Commerce (ICC) initiated the Emerging Asia Insurance Awards to acknowledge, honour and to recognise the efforts made by the emerging Asian Insurance companies while creating a platform for them to discuss their common challenges and its ramifications effecting the Insurance sector.

PwC performed the groundwork for the awarding body in reviewing and assessing the applicant profiles. The selection of awards comprised of several criteria and PwC has evaluated the audited financial data (for the last three financial years) of the applicants. Performance on Technical Reserve to Net Premium Ratio, Combined Ratio, Top Line Growth, Shareholder Capital, Number of complaints received, Claim Settlement Ratio and Investment on Training were assessed in gauging the winners.

LOLC General Insurance PLC is a subsidiary of LOLC Holdings PLC, which is one of Sri Lanka’s largest and most diversified conglomerates with operations in 20 countries in Asia and Africa. LOLC General Insurance PLC is currently one of the fastest growing Insurance companies in Sri Lanka and owns 45% of Serendib Micro Insurance PLC in Cambodia. The company has evolved into one of the country’s leading insurance providers of today, in a relatively short period of time.

During the last few years the company continuously streamlined their processes and achieved greater coordination between different units of the company to implement a customer centric approach. The organisation is committed to continuously improve its overall processes, efficiency and relationships to serve the customers better.

During 2021, LOLC General Insurance recorded a premium income growth of 19.2% which was the highest growth recorded by a mid/large sized company in the General Insurance industry and reported paid claims to the tune of Rs. 2.5 billion. LOLC General Insurance has always maintained an undisputed and unsurpassed reputation for speedy settlement of claims. The amount of money provided in lieu of claim reimbursements during the last financial year itself, reflects the company’s commitment to timely claim settlements.

Commenting on the remarkable achievement Chief Executive Officer of LOLC General Insurance, Mr. Kithsiri Gunawardena said “It’s indeed an honour to be adjudged by PwC as the Best General Insurance Company of the Year at the Emerging Asia Insurance Awards 2021 organized by the Indian Chamber of Commerce. Winning the award among Pan-Asian giants this year is all the more precious to us due to all the challenges faced globally as well as within our island nation. I wish to take this opportunity to thank our untiring staff who are key in the success of the organisation and of course our invaluable customers who we strive to give the best service at all times. We will continue to provide innovative risk solutions and create value to our customers, employees and stakeholders!”

LOLC General Insurance aims to help the customers understand and to manage the risks they face, be it individual, family or business. The company works hard to offer the customers a range of products and services coupled with expert support. The solutions assure protection against numerous risks and support all classes of products in the General Insurance space. The organization is supported by Swiss Re, one of the largest reinsurers in the world.

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