Unilever Voted Sri Lanka’s Number 1 Employer of Choice for the 11th Consecutive Year
Unilever Sri Lanka has been recognized as the No. 01 Employer of Choice among undergraduates in Sri Lanka for the 11th consecutive year. This prestigious award is a reinforcement of the unwavering commitment of the company towards developing Sri Lankan youth as purpose led, future fit leaders of tomorrow.
The Employer of Choice survey is an annual survey conducted among undergraduates from national and private universities in the country across management, science and engineering disciplines. The respondents rank companies based on their presence among youth, the career opportunities provided within the organisation, and investments made in terms of enhancing youth employability for which Unilever Sri Lanka has been consistently recognized as the go-to Employer.
Sharing her thoughts on this achievement, Ananya Sabharwal, Human Resources Director – Unilever Sri Lanka said, “We are humbled to be recognized once again as the No. 1 Employer of Choice by undergraduates in Sri Lanka. Leading research agencies are stating that Gen Zs will form 30% of the world’s population by 2030. And they are a growing power that will form the workforce of the future. We will continue evolving our youth offerings to cater to unique nuances of Gen Zs such as flexibility and inclusion whilst building their future fitness. We also want to share this esteemed recognition with our external partners including universities, youth institutions and organisations that have joined hands with us to magnify our scale of reach to purposefully empower youth across Sri Lanka.”
Commenting on the recognition, Hajar Alafifi, Chairperson and Managing Director – Unilever Sri Lanka said, “This milestone marks over a decade of our meaningful connections with Sri Lankan Youth. Our youth are our future and as a responsible corporate citizen, we are proud to have been partnering with them in innovative ways to not just build their employability skills, but also develop them as future leaders of the world. We will continue to support our youth, thereby enhancing their skills, creating impactful learning experiences and preparing them for the future of work in the hopes of building a better tomorrow.”
As part of its commitment to equip 100,000 youth with better employability skills by 2025, Unilever Sri Lanka, together with its SPARKS Student Ambassadors, recently hosted its annual Youth Forum for the ninth consecutive year themed around the topic of ‘Future of Work’ to provide nearly 400 undergraduates and graduates from 50+ universities and institutes with a holistic overview on what the future of work entails. Furthermore, the company recently signed an MoU as a ‘Strategic Partner’ with the Department of Marketing Management of the University of Kelaniya for its Marketing and Digital Marketing degree programmes, and has also partnered with CIMA, the Sri Lanka Institute of Information Technology (SLIIT), General Sir John Kotelawala Defence University (KDU), AIESEC Sri Lanka and Gavel clubs, to help support dynamic capability building in Sri Lankan youth.
Hemas Hospitals makes national-level contribution through ‘Upakara’ initiative for deprived CKD patients
In a concerted effort to ensure healthcare equity for all Sri Lankans, the country’s foremost trusted private healthcare provider Hemas Hospitals introduced ‘Upakara’, an unmatched timely initiative which offers free monthly dialysis cycles to a selected number of Chronic Kidney Disease (CKD) patients from low-income backgrounds, through Hemas Hospitals.
Hemas Hospitals’ Upakara is a one-of-a-kind initiative, contributing to the health and wellbeing of individuals from underprivileged and less fortunate communities, who are suffering from CKD. While most individuals face difficulties with affording basic healthcare during the country’s perilous economic situation, this facility will be considered a life-saving, monumental effort from a private healthcare provider, contributing on a national level.
“Chronic Kidney Disease is one among the most prevalent non-communicable diseases in Sri Lanka. Statistically, 20-25 percent of diabetic patients and 18-20 percent of patients with hypertension are prone to CKD. Holistically, one in 10 Sri Lankans is estimated to have CKD, while the vast majority is unaware of the fact that they have it, resulting in most patients seeking healthcare support at its late-stages. This forces CKD patients to either opt for kidney transplants or regular dialysis treatments, both bearing an intense level of financial burden on patients and their loved ones. Given the volatile macro-economic environment in the country today, this financial burden is heavier than ever before,” stated Dr. Lakith Peiris, Managing Director Hemas Hospitals.
“A statistically higher number of CKD patients from the underprivileged communities who are affected by fewer resources prompted us to address this issue by extending our support to these communities with essential infrastructure and services through Hemas Hospitals’ Upakara initiative,” he added.
CKD is fast becoming a major public health concern, attracting increased global attention due to rapid spread of the disease, and its grave impact on patients and their quality of life. With a larger number of CKD patients reported from Sri Lanka each year, the national healthcare system often finds it difficult to cater to the full requirement of all patients requiring dialysis, affecting their health and wellbeing on a large scale.
With the aim of ensuring good governance and community participation, Upakara will be overseen and operated by a governance committee inclusive of key opinion leaders within the hospital and communities.
With a vision of ‘Making Healthful Living Happen’, Hemas Hospitals intends to support CKD patients in a manner that eases the great financial burden that falls on them every month and enhances their access to life-saving dialysis treatment. At a time in the country when macro-economic volatility has destabilized personal economies, Upakara will lend greatly to easing the financial pressure of healthcare on these chronic patients and enable them to re-establish a sense of wellbeing.
“Therefore, in such a dire context, we believe Upakara is an important step forward in assuring health and healthcare equity in Sri Lanka, and consider it our duty as a responsible healthcare provider to ensure that all Sri Lankans have access to the life-saving treatment they require regardless of their financial background. Upakara was therefore borne with this vision, and we consider ourselves privileged to launch this vital CSR programme as we continue to work to eliminate disparities in the diagnosis and treatment of kidney diseases in Sri Lanka,” stated Dr. Peiris.
Cargills Bank reports profitability turnaround with robust income growth and operating cost management
Cargills Bank reported a profit before tax of LKR 206Mn for the financial year 2022, recovering from a loss before tax of LKR 369Mn in the previous year, driven by robust growth in operating income that offset erosions due to increased provisioning and operating costs.
Total operating income rose 74% year-on-year to LKR 4.28Bn on account of growth in both Interest and Fee-based income in similar proportion. The Bank prudently managed its lending portfolio with the intention of preserving liquidity and maintaining asset quality, leading to a slight decline in the portfolio. However, the Bank was able to expand its net interest margins over the previous year, resulting in significant growth in interest income. Meanwhile robust performance in card operations, trade finance and remittances resulted in 75% year-on-year growth in fee-based income.
Mindful of the challenging environment and its impact on customers, the Bank proactively increased its provision cover ratio, resulting in a 114% year-on-year growth in impairment to LKR 1.46Bn. The Bank’s Stage 3 Loans (Net of Stage 3 Impairment) to Total Loans ratio consequently improved from 6.43% in 2021 to 4.85% in 2022.
The Bank prudently managed its operating costs to limit the increase to 16% year-on-year, resulting in the Bank’s Cost to Income ratio improving from 82.8% in 2021 to 55.4% in 2022. Consequently, the Bank reported an operating profit before taxes on financial services of LKR 448Mn.
The Bank maintained healthy capital and liquid asset ratios during the year, reporting a Total Capital Ratio of 22.85% and Liquid Asset Ratio – Domestic Banking Unit of 26.70% as at 31st December 2022.
Senarath Bandara, Managing Director/CEO of Cargills Bank commenting on the performance of the Bank stated, “Cargills Bank navigated the uncertain economic climate of 2022 with resilience and pragmatism.
The Bank adopted an agile approach in response to the challenges to seek growth and stability in spite of external pressure. Our approach has borne fruit with the Bank achieving profitability within the year under review, while also pursuing our long-term growth aspirations to create sustainable value for all stakeholders.”
The Bank continued to expand its network, opening two new branches in Negombo and Anuradhapura, and complemented branch expansion by opening eight new MINI service locations in Cargills Food City outlets. Furthermore, in line with its objectives to promote financial inclusion and financial deepening, the Bank launched a mobile branch vehicle to serve underbanked customers in the Central, North Central and Northern provinces.
Market ends down as investors await financial results
By Hiran H. Senewiratne
Trading at the CSE started off with a positive note yesterday and in the middle of the session, the market dipped due to profit takings. Subsequently, at the later part of the day it showed slightly recovery. However, the market performed in a negative manner in mid-day trade on shares which were down on the financial year coming to an end, an analyst said.
“The market is down as financial years come to an end and investors await reports to be produced,” another analyst said. It is said that profit taking had been witnessed in Sri Lanka Telecom as the Cabinet of Ministers has granted approval in principle for the divestment of the stakes held by the Treasury Secretary.
It is said that buying interest for Lanka IOC as global oil prices have come down, pushing the interest for the index up. While selling pressures have decreased on banks and stability is coming back as the share price has gone down, which has pitched in buying interest for the index, they said.
Amid those developments both indices moved downward. All Share Price Index down by 43.9 points and S and P SL20 down by 2.95 points. Turnover stood at Rs 912 million without reporting a single crossing. In the retail market top seven companies that mainly contributed to the turnover Lanka IOC Rs 124.3 million (716,000 shares traded), Sampath Bank Rs 71.8 million (1.3 million shares traded), NTB Rs 62.1 million (one million shares traded), SLT Rs 57.2 million (596,000 shares traded), Dialog Rs 51.1 million (4.9 million shares traded), NTB Rs 43 million (998,000 shares traded), and Melstacorp Rs 40.9 million (438,000 shares traded). During the day 45.7 million share volume changed hands in 12000 transactions.
In the meantime treasury bond yields were steady and the rupee opened stronger in the spot market on Thursday, dealers said. A 01.07.2025 bond was quoted at 31.25/75 percent on Thursday, steady from 31.25/30 percent on Wednesday.
A 15.09.2027 bond was quoted at 28.30/29.00 percent, steady from 28.25/29.00 percent on Wednesday. Sri Lanka rupee opened at 327/328.50 rupees against the US dollar strengthened, from 328.50/329.50 rupees from a day earlier.
Dhananjaya de Silva returns as Sri Lanka bat first in Hamilton
Donald Trump to be charged over hush money
Showers in Western, Sabaragamuwa and North-Western provinces and in Anuradhapura, Kandy, Nuwara-Eliya, Galle and Matara districts
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
U.S. Congress to probe assets fleecing by US citizens of Sri Lankan origin
News6 days ago
Mano says LG and PC elections equally important
Business3 days ago
Softlogic Finance appoints Ivon Brohier as new CEO
Features5 days ago
‘A Jaffna-man, an eminent surgeon with an European reputation’
News6 days ago
Teacher trade unionist asked to explain how he received salary for 23 years without teaching
Features5 days ago
Jaffna Revisited- Some Quick Impressions On Post-War Development
Business3 days ago
‘Govt. lacks mechanism to recover USD 40 billion spirited out of SL from 2008 to 2018’
Features5 days ago
Marriage and some amazingly accurate astrological forecasts
Business2 days ago
DFCC Bank establishes Indian Rupee Nostro Account with HDFC Bank India