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SLT partners NEMRA Properties to power five condominium projects

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The national ICT and digital services provider, Sri Lanka Telecom PLC recently entered into an agreement with NEMRA Properties (Pvt) Ltd., a BOI approved property development and construction company in Sri Lanka to power 5 major condominium projects that are currently under construction in Colombo city.

The agreement signing took place recently at SLT premises in Colombo Fort, with SLT CEO Kiththi Perera and Chief Sales and Regional Officer Imantha WIjekoon signing on behalf of the company while Director Jude Rozarius signed on behalf of Nemra Properties. Several other representatives from both companies were also present to witness the signing of this landmark agreement between the two companies.

Under the newly formed partnership, SLT will provide the ICT infrastructure for five different condominium projects and upcoming projects with 42 units. For the residents of the condominiums, the involvement of SLT in these projects translates into crystal clear voice communication services, ultra-fast and superior broadband connectivity provided through fibre technology, as well as the next revolution in entertainment television via PEO TV.

Jude Rozarius, commenting on behalf of NEMRA Properties gave his view on the significance of the partnership saying, “We have been in the construction business for 15 years, first in Saudi Arabia and then in Sri Lanka. During these 15 years, we have been recognized and awarded many times over for our high quality materials, innovative designs and timely workmanship. Therefore, what we most value and look for in a business partner is their excellence in quality of services, innovativeness and reliability. This is the main reason why we had no second thoughts about selecting SLT to be our partner for these major luxury condominium projects, because of SLT’s reputation for excellence and proven track record in the past. Through our partnership with SLT, I am confident that we will be able to deliver our promises to our clients, and provide them with unique and luxurious lifestyles.”

Imantha Wijekoon speaking on behalf of SLT said, “We are truly honoured to have been selected as the partner of choice by NEMRA Properties and we appreciate the confidence that they have placed on us. SLT is passionate about ensuring that people enjoy higher standards of living in their day to day lives. I am confident that SLT is in a strong position to act as a key enabler for this due to our ICT capabilities, strengths and expertise. We assure NEMRA Properties that their confidence placed on us will be rewarded and that they will be able to deliver the promises made to their clients to provide unique and luxurious lifestyles within close proximity to Colombo.”

SLT will also provide the backbone necessary for “smart buildings” for all condominiums that will facilitate the transformation of ordinary lives of residents into truly digital lifestyles in the near future.

NEMRA Properties has already completed four successful construction projects in Sri Lanka. Their main focus is on design and construction, managing construction projects as well as developing resident and commercial real estates.



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Sri Lanka’s economic confidence index plummets

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‘No one has rated Sri Lanka’s economic condition as excellent. 1.8 % rated it as good and 1.3 % rated it as getting better. The resulting score was a (-) 96. This rating was (-) 83 in January 2022, a wide ranging Verite Research public opinion survey reveals.

Key findings of the survey:

Government approval rating drops from 10% to 3%

The second round of the Gallup Style “Mood of the Nation” poll was conducted in June by Verité Research. It assessed the approval, satisfaction, and confidence of the nation in relation to the government, the country, and the economy.

The poll was conducted as a part of the syndicated survey instrument by Verité Research. This instrument also provides other organisations the opportunity to survey the sentiments of Sri Lanka.

1. Government approval rating | 3% | To the question, “Do you approve or disapprove of the way the current government is working?” only 3% said they approve. In January 2022 this rating was at 10%.

2. Sri Lanka satisfaction | 2% | To the question, “In general, are you satisfied or dissatisfied with the way things are going in Sri Lanka?” only 2% said they were satisfied. This rating was at 6% in January 2022.

3. Economic confidence | negative (-) 96 | Multiple choice questions on the condition and trajectory of the economy are used to generate an economic confidence score. The score can range from negative (-) 100 to positive (+) 100. A score above zero means more people see the economic conditions positively rather than negatively. If everyone thinks the economy is in either excellent or good condition, and everyone also thinks it is getting better, the score will be (+) 10. If everyone thinks that the economy is in a poor condition, and everyone also thinks it is getting worse, the score will be a (-) 100. No one rated the economic condition as excellent. 1.8% rated it as good; and 1.3% rated it as getting better. The resulting score was a (-) 96. This rating was (-) 83 in January 2022.

Implementation of “Mood of

the Nation”

The poll is based on an island wide nationally representative sample of responses from 1,052 Sri Lankan adults, conducted in June 2022. The sample and methodology was designed to ensure a maximum error margin of under 3% at a 95% confidence interval. The polling partner was Vanguard Survey (Pvt) Ltd.

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Decline in share market in the wake of rate hike reports

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By Hiran H.Senewiratne

CSE trading activities began on a positive note yesterday but during the latter part of the day the market experienced a dip on account of the overall supply chain economy being subjected to a contraction, stemming from the fuel crisis. Consequently, CSE activities were relatively low keyed, market analysts said.

“We are reverting to the negative. There is uncertainty on all fronts, from the political to the economic. Therefore, we are expecting a rate hike on Thursday. This is creating a bit of a cloud and we may see this continuing further, a top market analyst said.

Even if top level decision- making is happening in Sri Lanka the impact is not felt at the grassroots level. This has resulted in unrest in the country, the analyst said.

Amid those developments, both indices moved downwards. The All- Share Price Index went down by 97.9 points and S and P SL20 declined by 34.3 points. Turnover stood at Rs 1.3 billion with one crossing. The crossing was reported in JKH, which crossed 600,000 shares to the tune of Rs 73.2 million, its shares traded at Rs 122.

In the retail market, the top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 611 million (7.3 million shares traded), Expolanka Holdings Rs 173.9 million (one million shares traded). LOLC Holdings Rs 47.4 million (120,000 sha4es traded), Hayleys PLC Rs 46.5 million (697.000 shares traded), Browns Investments Rs 46.3 million (6.4 million shares traded), JKH Rs 21 million (173,000 shares traded) and Softlogic Holdings Rs 20.5 million (794,000 shares traded). During the day 109 million share volumes changed hands in 15000 transactions.

The International Monetary Fund said last Thursday its talks with crisis-hit Sri Lanka had been “constructive”, thereby raising hopes it would soon grant preliminary approval for a desperately needed financial support package, observers said.

Meanwhile, the Colombo Consumer Price index rose 54.6 per cent year-on-year in June against a 39.1 per cent rise in May, according to the Statistics Department.

Yesterday the US dollar rate was Rs 360.73, which is now being controlled due to the prudent fiscal and monetary policies of the Central Bank.

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Dialog Club vision members receive access to an exclusive screening of ‘Jurassic World Dominion’

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In a bold and breath-taking new global adventure, the epic conclusion to the Jurassic film franchise ‘Jurassic World Dominion’ hit theatres across the world on June 10. Just a day after its global premiere, Dialog Club Vision Red members and their loved ones received special access to an exclusive screening of the film at the Kandy City Centre Multiplex on June 11.

The explosive end to the Jurassic era sees two generations of the film’s franchise unite for the first time with Hollywood’s Chris Pratt and Bryce Dallas Howard joined by Oscar winner Laura Dern, Jeff Goldblum and Sam Neill. Dialog Club Vision members were some of the first to witness the utopian world where Dinosaurs and humans co-exist.

With the best interests of its members and their loved ones at heart, Dialog Club Vision continues to deliver a world of exclusivity and privileges such as personalized care, exclusive discounts and offers, lifestyle and entertainment events and more. To explore more exciting offers available for Dialog Club Vision members, and to learn more about Sri Lanka’s premier loyalty programme, customers can visit the MyDialog App or visit dialog.lk/club-vision

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