Business
Singer Sri Lanka showcases widest range of energy-efficient refrigerators
Singer Sri Lanka, a pioneer in the consumer electronics industry, has introduced a range of cutting-edge technological innovations to its line of eco-friendly refrigerators. These innovations are setting a new standard in the market and helping consumers save both money and energy. This coincides with the pilot refrigerator replacement project initiated by the Sri Lanka Sustainable Energy Authority (SLSEA) on February 17th, 2023. The project introduced a Minimum Energy Performance (MEP) label to 15 models of refrigerators offered by three major appliance vendors in the country, out of which Sisil brand under SINGER comprises of 9 models. This enables customers to identify energy-efficient products at the point of sale by display of energy usage information. The objective of the program is to progressively reduce energy consumption by encouraging energy-efficient products and discouraging energy-wasting products in the market, thereby forcing out obsolete refrigerators from the grid.
Singer Sri Lanka has been at the forefront of technological innovations in refrigeration. One of the key features of Singer/Sisil refrigerators is the use of R600a refrigerant, which was introduced by Singer Sri Lanka approximately ten years ago. This environmentally friendly refrigerant has since become the standard in the South Asian region, with other vendors & brands following suit. Singer/Sisil refrigerators are also among the most efficient and energy-saving on the market, boasting an impressive A+++ rating.
Kelum Kospelawatte, the Factory Director of Singer Sri Lanka, stated that the company has always been ahead of the game when it comes to technological innovations in refrigeration. Kospelawatte stated, “To my knowledge, there were no special modifications required. We had the required technology in our refrigerators all along. Singer/Sisil refrigerators have always conformed to the standards set by the Sri Lanka Sustainable Energy Authority. In fact, Singer and Sisil refrigerators don’t just conform to high standards, we often exceed them.”
Singer/Sisil refrigerators also come with several other features that set them apart from the competition. For example, they are designed with specialties such as “Inverters”, “No Frost” and “Direct Cool” and are available in single-door and two-door models with a wide range of designs and capacities. The coolant used in Singer/Sisil refrigerators is Hydrocarbon – R600a, the best refrigerant available in the market. Additionally, these refrigerators are equipped with an environmental temperature sensor that adjusts the temperature simultaneously with the temperature of the room, further conserving energy.
The trend among consumers towards purchasing refrigerators that use natural coolants such as R600a is growing. Thus, consumers who are currently using refrigerators with old refrigerants, and models older than ten years, should consider upgrading to a new Singer/Sisil refrigerator to save on their electricity bill and help save the environment. Overall, Singer Sri Lanka’s commitment to eco-friendly refrigeration technology is making a significant impact in the industry. Their Singer/Sisil refrigerators not only conform to high standards but often exceed them, making them the top choice for consumers looking for an energy-efficient and environmentally friendly option. With Singer Sri Lanka leading the way, consumers can expect even more eco-friendly innovations in the future.
LOLC Technologies Limited, a subsidiary of the LOLC Group, has entered into a collaborative agreement with Microsoft to integrate Azure cloud services into “FusionX”, its core banking platform designed to meet evolving customer needs. This strategic move aims to upscale their operational architecture, enabling LOLC Technologies to harness the power of data and AI to expedite growth and success.
Through Azure, LOLC Technologies can harness cloud-native services to enhance FusionX by enabling scalability, agility, and AI-driven efficiency. Azure serves as the foundation, empowering LOLC Technologies to achieve its evolving digital goals by delivering tailored experiences that meet today’s unique banking demands. Azure’s secure and easily deployable nature, along with its AI capabilities, enables existing functions to be updated without needing a complete rebuild, simplifying the process of rolling back updates. Azure provides FusionX with an additional layer of cybersecurity to counter potential threats and implement best security practices. Consequently, as the organization designs new banking solutions, they do so with a proactive stance against threats.
Speaking on the adoption, Prasanna Siriwardena, Deputy CEO, LOLC Technologies Ltd and CIO, LOLC Holdings PLC, said, “This is not just a technological advancement, but a strategic transformation aimed at positioning LOLC Technologies at the forefront of digital banking solutions. By leveraging the unparallelled agility and resilience of Microsoft Azure, we are focused on redefining financial services. With this shift, we have empowered BFSIs to evolve rapidly while unlocking AI’s full potential through a real-time analytics platform.”
Strategizing for international growth, the company aims to enhance its products’ capabilities by leveraging the cloud service architecture of Microsoft Azure to boost value addition. The Cloud Adoption Framework within Azure will assist LOLC Technologies and their teams in improving operational efficiencies and promptly closing feedback loops, allowing them to cleverly align their business goals, operations, and vision.
Harsha Randeny, Country Manager for Microsoft Sri Lanka and Maldives, added, “We are enthusiastic about supporting LOLC Technologies break ground on their undertaking to elevate operations through AI automation. Not only are we looking forward to guiding LOLC Technologies through this transition, but we’re also keen on optimizing the organization’s leveraging of Microsoft AI Solutions at every level. We trust that with these tools at their disposal, LOLC Technologies will forge ahead with inventive opportunities.”
Microsoft is committed to empowering LOLC Technologies to drive innovation and transform their business with AI, leveraging cloud agility to support their evolution and advance their core banking capabilities.
By Hiran H.Senewiratne
Stock trading was positive yesterday but investor participation remained at a lower range. The turnover level was 60 percent down compared to previous days after suffering its worst dip in over two years and losing Rs. 188 billion in value on Wednesday, market analysts said.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 227.95 points while S and P SL20 rose by 72.87 points. Turnover stood at Rs 2 billion with four crossings.
Those crossings were reported in JKH, which crossed six million shares to the tune of Rs 136.3 million, its shares traded at Rs 22.70, Melstacope 450,000 shares crossed for Rs 58.3 million; its shares traded at Rs 130, ACL Cables 250,000 shares crossed for Rs 33.7 million; its shares traded at Rs 135 and Dialog 2 million shares crossed to the tune of Rs 26.2 million; its shares traded at Rs 13.10.
In the retail market top six companies that mainly contributed to the turnover were; Browns Investments Rs 115 million (13.2 million shares traded), Access Engineering Rs 88.7 million (2.1 million shares traded), CIC Holdings Rs 88.5 million (792,000 shares traded), Melstacope Rs 85.9 million (678,000 shares traded), Dipped Products Rs 67.8 million (1.1 million shares traded) and Sampath Bank Rs 66.9 million (557,000 shares traded). During the day 78 million share volumes changed hands in 17970 transactions.
During the day the main contributors to the All Share Price Index were, Ceylinco Insurance, 34 points, Melstacope 25 points and JKH 21 points.
It is said that high net worth and institutional investor participation was noted in Amana Bank, Access Engineering and Teejay Lanka. Mixed interest was observed in Browns Investments, HNB and LOLC Holdings, while retail interest was noted in LOLC Finance, Waskaduwa Beach Resort and Dialog Axiata.
The banking sector was the top contributor to the market turnover (due to HNB and Amana Bank), while the sector index gained 0.76 percent. The share price of HNB edged up by 25 cents to Rs. 334.25. The share price of Amana Bank moved down by 10 cents to Rs. 25.
The Capital Goods sector was the second highest contributor to the market turnover (due to Access Engineering), while the sector index increased by 0.79 percent. The share price of Access Engineering recorded a gain of Rs. 1.10 to reach Rs. 40.
Yesterday the rupee was quoted at Rs 298.40/80 to the US dollar in the spot market, stable from Rs 298.40/70 to the US dollar the previous day, dealers said, while bond yields were broadly steady.
A bond maturing on 15.12.2026 was quoted at 9.05/15 percent, up from 9.05/10 percent. A bond maturing on 15.10.2027 was quoted at 9.75/85 percent, up from 9.70/80 percent. A bond maturing on 15.02.2028 was quoted at 10.13/17 percent, down from 10.15/17 percent. A bond maturing on 01.07.2028 was quoted at 10.35/38 percent. A bond maturing on 15.09.2029 was quoted at 10.80/85 percent, down from 10.82/90 percent. A bond maturing on 15.10.2030 was quoted at 11.23/28 percent, down from 11.23/33 percent.
Chatham Luxury -the exclusive representative of Chopard in Sri Lanka- held a private preview of the Swiss luxury brand’s newest watch and jewellery collections on Thursday the 23rd of January at the Chatham Flagship Boutique at Galle Face Court; making it the first time a global jewellery label showcased in Sri Lanka.
Representing Chopard at the intimate event was Xavier Lasserre, International Sales Manager of the brand; and as the evening unfolded, models gracefully exhibited exquisite timepieces and jewellery while Lasserre introduced every coveted creation on display with fascinating insight into the design and craftsmanship behind each, while also speaking to the ethos, heritage, and vision of the brand.
Under the spotlight were some of the luxury label’s newest creations that reflected both the masterful artistry and calibre of Chopard, namely the latest additions to the iconic Happy Diamonds and Ice Cube collections.
Chopard’s Happy Diamonds luxury jewellery capsule with its quintessential ‘dancing diamonds’ is recognised for its authentic elegant charm. On the other hand, the brand’s Ice Cube collection of luxury rings, diamond pendants, bracelets, and earrings, perfectly marry classical glamour and sleek modernity.
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