The Innovation and Technology Committee of The Sri Lanka Institute of Directors (SLID) organized a timely webinar titled “Cybersecurity: What Company Boards Should Know” for its members recently to enhance their knowledge on cybersecurity, a threat that is targeting businesses in an increasingly online world. Nuwan Perera – Chairman of the SLID Committee for Innovation and Technology introduced the keynote speaker Madu Ratnayake – Chairman & Co-Founder of Scybers, a global cybersecurity consulting & managed services company, Board member of SLCert, formerly at Virtusa, Independent Director of HNB, and former Chairman of SLASSCOM as a top professional with deep expertise in digital transformation, cybersecurity and building high performing global teams in high tech and financial services companies.
In his keynote, Madu Ratnayake said that digital adoption is accelerating due to COVID and that there is a significant number of digital services in the market since most companies are taking their companies digital which are accessed by more and more people. “If one looks at the threat landscape in the data breach space, there is a significant increase in cyberattacks. It is not unique to a few companies it is happening across the board in various forms. Cybercriminals are getting more advanced using tools such as AI to carry out their attacks, and hacking has become an industry or business by itself with companies providing various attack services including Ransomware-as-a-Service with increasing rewards. Add to this a severe shortage of skills in cybersecurity and technology estimated at 1.8 m vacancies, it’s a perfect storm into which you are launching in a paper boat. It is in this context that you as a Board member and business leader should look at this situation and make sure you navigate the storm and safeguard your business with what is available”.
He said “It takes on average 287 days to identify and contain a data breach with almost 90% of the attacks happening due to lapses in basic cyber hygiene and companies become victims of “keeping their backdoor open” by not patching their infrastructure, fixing vulnerabilities etc. In relation to targeted attacks, which can be organized crime or nation-state, nothing much can be done to defend. In such a situation, your strategy should be to limit the impact. A data breach or attack will occur at some point in time”.
Amana Takaful Insurance and CBC Finance forge partnership for insurance coverage
In a significant move to enhance insurance services for vehicle owners, Amana Takaful Insurance PLC and CBC Finance Limited have inked a special Memorandum of Understanding (MOU). This strategic alliance positions Amana Takaful Insurance as the preferred insurance partner for CBC Finance, which is a wholly-owned subsidiary of Commercial Bank of Ceylon PLC.
The signing of this exclusive agreement signifies Amana Takaful Insurance’s commitment to providing tailored insurance solutions to the customers of CBC Finance. It opens up a range of benefits for vehicle owners, including three-wheelers and motorcycles, ensuring affordable, comprehensive insurance coverage and seamless services. The MOU will facilitate widespread collaboration between Amana Takaful Insurance and CBC Finance, on an Islandwide basis, thereby strengthening customer relationships. Furthermore, the agreement introduces tailor-made insurance products crafted specifically to cater to the needs and preferences of CBC Finance customers.
Hassan Kassim, Managing Director at Amana Takaful Insurance expressed his enthusiasm about this new exclusive partnership saying, “We’re excited to join hands with CBC Finance to provide comprehensive insurance solutions to their valued customers. This strategic alliance aligns perfectly with our commitment to delivering exceptional value to customers across Sri Lanka.”
Managing Director/CEO at CBC Finance, Upul Dissanayake noted, “This partnership marks a significant step forward in ensuring robust insurance coverage for vehicles across Sri Lanka. Amana Takaful Insurance’s strong financial position and exceptional product offering, combined with CBC’s extensive reach, will empower customers with top-notch insurance solutions and unparalleled convenience.”
The collaboration between these two leaders in the financial services space exemplifies their dedication to supporting the business community and the general public by offering innovative and customer-centric insurance products. Amidst a challenging market environment, this partnership underscores Amana Takaful Insurance’s resilience and commitment to providing reliable insurance coverage, making it the preferred choice for individuals and businesses alike
SLT-MOBITEL mTunes introduces ‘Be a Millionaire’ promo
Bringing elevated lifestyle experiences, SLT-MOBITEL is offering users the ultimate chance to turn music into wealth with its new ‘Be a Millionaire’ promo on mTunes.mTunes is a digital lifestyle service that allows customers to personalise their Caller Ring Back Tone (CRBT) with their favourite songs or audio content. It adds a unique and personalised touch to phone calls, allowing customers to express their originality and preferences with their loved ones.
With a vast collection of songs on the mTunes platform, the ‘Be a Millionaire’ promo offers users the opportunity to connect with their hearts’ content and win big cash prizes. From September 1st to November 30th, 2023, the ‘Be a Millionaire’ promo on mTunes promises incredible prizes for lucky participants. The grand prize is an amazing Rupees One million (Rs. 1,000,000) with additional rewards of Rs. 100,000 for the second winner and Rs. 50,000 for the third place. But the path to wealth does not end; seven more lucky winners will receive Rs. 10,000 each, and every week, there will be twelve lucky winners of Rs. 10,000 each in cash prizes.
Participating in the promotion is easy. Existing and new CRBT users have the chance to win these fantastic prizes, including becoming millionaires, by simply activating more mTunes during the promotional period. With multiple cash prizes available, there are numerous opportunities to win every week. The ‘Be a Millionaire’ promotion is a golden opportunity to make dreams come true.
Users can increase their chances of winning by simply activating more mTunes daily. Users can also experience the fun, excitement, and entertainment offered by mTunes and enjoy the world of music.
From Thread to Tree: MAS Holdings’ Fabric Park redefines sustainable manufacturing
In an era where environmental sustainability is transitioning from choice to necessity, MAS Fabric Park (MFP) stands out as a revolutionary force in Sri Lanka’s apparel industry. Nestled in the tranquil environs of Thulhiriya in the Kegalle District in Sri Lanka, this 165-acre privately owned apparel-intensive free trade zone is not just a manufacturing hub; it’s the result of the MAS Group’s unwavering vision for sustainability, a testament to the Group’s dedication and a shining example of business harmonizing with the environment.
A Vision for Positive Change
MAS Holdings, the parent company of Fabric Park, has long embraced a vision of sustainable growth and positive transformation within the Company’s ethos, which is seen throughout the organization and its initiatives. The belief is that sustainability goes beyond profit; it’s about fostering positive change in the world, making a difference for the communities around the locality, and leaving a lighter footprint on our planet.
MAS Fabric Park’s CEO Murad Rajudin explained that MFP provides partner plants with centralized utility services including treated water, raw effluent treatment for factory-discharged water, energy in the form of electricity distribution from the main grid, steam, and thermic heat, based on the location of the plant. “MFP plays a pivotal role in the intricate supply chain of MAS Holdings.
Firstly, it is a strategic hub for fabric development and value addition, contributing significantly to the vertical integration of the MAS supply chain. This integration is crucial in a global industry where speed, efficiency, and reducing carbon footprint have become paramount. By offering state-of-the-art infrastructure and facilities for fabric manufacturing right within Sri Lanka, MFP not only streamlines operations but also aligns with the global demand for responsible and sustainable manufacturing practices.”
Comprehensive Water Management, Waste Reduction, and Value enhancement
Sustainability is deeply ingrained in every facet of MAS Fabric Park’s operations, notably in its approach to IPZ’s overall water footprint management, centralized effluent treatment, and waste management operations. The Park introduced a uniquely designed centralized raw wastewater collection and combined treatment system, which strictly adheres to global-level Zero Discharge of Hazardous Chemicals (ZDHC) standards with respect to the fully treated discharges of the zone.
MFP General Manager (Hydro & Sustainability) Harsha Deraniyagala says, “MFP is leading the way in centralized water management systems, and centralized effluent treatment operations whilst meeting global standards with a present capacity of 9000 cubic meters per day. These innovative systems, operating at such high capacity, eliminate the need for redundant in-house treatment plants for partner facilities, effectively optimizing resources and curbing environmental impact within the zone.”
In addition, MAS Fabric Park has pioneered the sustainable management of textile “sludge”, which is a globally concerned area related to the industry. Through sustainable solar and thermal drying-based reductions, and dried sludge co-processing for energy recovery leading to final eco-brick production, it has significantly reduced the waste footprint of the zone whilst ensuring circularity within the entity.
Even the ultimate byproduct of textile wastewater treatment sludge finds purpose in products like the Eco Brick, used in constructing the chalets at MAS Athena and also across other construction needs of the entity, whilst biological waste is being diverted for composting for nurturing plants, aligning seamlessly with the concept of waste-to-energy and waste-to-value.
These initiatives contribute for the significant reductions of respective Carbon Footprints usually linked with the water, wastewater, and resultant large-scale environmental engineering operations. The fully equipped, ISO IEC 17025 accredited water quality laboratory and the research center support the related quality assurance and compliance aspects throughout the respective value streams.
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