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‘South Asia’s highest sky bridge’

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Capitol TwinPeaks, the LKR 25 billion flagship mixed-development project by the Sanken group’s Capitol Developers and Sanken Construction, located on the Beira lakefront in Colombo 2, recently began the installation of their 50th level sky bridge.

Following the announcement in early 2019 for plans to set the record for South Asia’s highest sky-bridge, the project which is set for completion and handover by end June 2021 began the installation of the sky bridge on October 29 2020, despite the second COVID-19 lockdown which continued to affect many of Sri Lanka’s industries.

Commenting Managing Director, Capitol Developers – Rohana Wannigama noted “With Capitol TwinPeaks being a notable landmark amidst landmarks, the sky bridge has been a much anticipated design and construction feature of the project. The sky bridge is yet another iconic moment in Sri Lanka’s history as it will be the highest in South Asia – yet again affirming Capitol TwinPeaks and Colombo as the ultimate location for those seeking a cosmopolitan lifestyle. This milestone signifies a historic moment in the field of architecture and engineering for our nation as the sky bridge is an open glass viewing point.”

Constructed at 174.2 metres (572 feet) above ground level, the remarkable aerial feat of engineering is part of the residential project, to link the 50-storey free-standing twin towers by a 30 foot (4.2 metre) long sky bridge.

Concluding, Mr Wannigama noted “As we continue at full speed towards completion of the entire project by end June 2021, this significant milestone – even amidst a slow down in many industries and nations, worldwide – is yet another signifier of Sanken’s drive and capability to deliver on time, in full. This sky bridge not only connects both towers at the top, allowing residents access to the exclusive facilities on the 50th floor, but is also featured as one of the project’s greatest engineering challenges”.

Under Sanken Construction, indepth research and testing was conducted to ensure safety of the sky bridge during high wind speeds and even earthquakes. Options such as elastomeric bearings, slide bearings and friction pendulum seismic isolation bearings for the sky bridge connectors were considered and tested, wherein customised guided slide bearings were selected as the most suitable bearing type for the connection between the skybridge and the towers. The design accommodates safe movement for both those on the bridge as well as those within the building during any turbulence.



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SLT-MOBITEL AkazaLMS enables corporate employee capability development

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As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.

Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.

Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.

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LIOC shows stability in earnings and margins compared to volatility during previous years

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First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.

“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.

“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”

“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.

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Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority

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From left: : Krishantha Pathiraja, Chairman at Palmyrah Development Board, Florian Manderschied, Head Maker at Hatch MakerStudio, Brindha Selvadurai, CEO and Co- Founder, Hatch, Eranga Basnayake, CEO and Chairman of Vocational Training Authority, Mahesh Ariyarathne, Vice Chairman of VTA

The next generation of Sri Lanka’s industry workforce is currently studying at Technical and Vocational Education and Training institutes (​​TVET) all over the country. Since the manufacturing technology is under permanent development, the requirements for TVET graduates have also evolved. In order to address the industry’s needs for skilled and competent workers, the Vocational Training Authority and Hatch MakerStudio have joined forces to pilot an innovative apprenticeship programme.

The apprenticeship programme is designed for students in the field of mechatronics, robotics, automation and CNC-technologies and is focusing on the upskill, entrepreneurial mindset and problem solving capabilities. Together with industry partners, the selected apprentices will undergo a one month training programme at Hatch MakerStudio before being placed in the companies. The programme comprises of:

Product development training

Software and rapid prototyping training

Problem solving and design thinking exercises

During the course of the apprenticeship, Hatch MakerStudio will provide supervision and support for both the apprentices and companies, in order to ensure effective skills development and utilization of working power. Students with their own specific product ideas and business models can choose Hatch MakerStudio as their place of apprenticeship.

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