Business

Unique water themed pavilion focused on promoting Sri Lanka as gateway to South Asia

Published

2 years ago

2021/10/5

Sri Lanka pavilion inaugurated at Expo 2020 Dubai

The official opening of the Sri Lanka Pavilion was inaugurated at Expo 2020 Dubai on the 1st of October 2021. The opening ceremony featured a welcome procession with Magul Bera song and a Traditional Kandyan Dance performance which was enveloped by the Sri Lankan traditional dance costumes in its glory followed by Sri Lanka’s national anthem and lighting of the oil lamp.

The keynote address was delivered by the Consul General of Sri Lanka, Dubai & Northern Emirates, NalindaWijerathna. A simple yet graceful event marked the opening of the pavilion. The pavilion will be in operation for a period of 6 months where the key event for Sri Lanka being the designated national day on 3rd January 2022 which is to be graced by the Prime Minister, Sri Lankan Ambassador to UAE, Minister of Tourism, Chairperson Sri Lanka Tourism and other dignitaries.

Located in the “Opportunity” district, the 300-sqm pavilion brings the planning principles of the ancient civilization to life, focusing onisland’s three key pillars Authenticity, Compactness and Diversity. The pavilion with its water-based theme was designed by a team from the University of Moratuwa and has been recognized as one of the best designs at Expo 2020 Dubai resulting in the Sri Lankan pavilion being constructed on a complimentary basis by the Expo organisers.

At the pavilion, visitors will immerse in an experience inspired by water – emphasizing the value of adaptability and agility, the will to transform challenges into opportunities. Display screens at the pavilion spotlight unique facets of the island nation. The senses of the visitors will be engaged to gain information on Island’s rich culture and heritage, natural ecosystems and wildlife through these cinematic creations.

Visitors are also able to unravel the secret of the world famous Ceylon Tea, from leaf to cup, and enjoy a fresh cup of tea on their journey along the pavilionat the special tea corner courtesy of the Sri Lankan Tea Board. Theretail space facilitated by the Export Development Board will boast an array of Sri Lankan produce ranging from spices to beautiful Batik clothing.

Consul General of Sri Lanka, Dubai & Northern Emirates, Nalinda Wijerathnasaid: “We are excited to announce the opening of the amazing and imaginative Sri Lanka pavilion at Expo 2020 Dubai. Sri Lanka has a rich and unique maritime history with shipping, trade and cultural links. Inspired by an aquatic theme, the pavilion creates a warm and welcoming space for all visitors and highlight its potential as one of the most delightful destinations in the world to visit. We invite the world to visit us at Expo 2020 Dubai”

Sri Lanka Tourism Chairperson and Commissioner General for Expo for Sri Lanka, Kimarli Fernando said: “Post Covid travelers are looking for tranquility, peace, serenity and healing and Sri Lanka is uniquely positioned with an amazing offering. A walk in our mountains, a dip in our nature’s ponds, a glimpse through our history and culture will create a lasting memory. We invite the world to come indulge in our world class hospitality and nature’s luxury for an amazing getaway that is unique, authentic and So Sri Lanka”.

The Sri Lanka pavilion will host a range of exciting events including a fashion show featuring traditional batik designs, a wedding show branding Sri Lanka as a prime wedding and honeymoon destination, a cultural dance show, a drum festival illustrating Sri Lanka’s rich cultural legacy though dance and music plus a children’s storytelling session featuring work by renowned children’s books author Late Sybil Wettasinghe, representing Sri Lanka’s rich literary heritage. On opportunity to win free air tickets on a weekly basis offered through Sri Lankan Airlines at the Sri Lanka Pavilion.

Furthermore, global viral sensation ‘Yohani’ with her ‘Manike Mage Hithe’ song is expected to perform at the National day of Sri Lanka scheduled for 3rd January 2022.

Minister of Tourism, Prasanna Ranatunga said “Sri Lanka Tourism is honoured to present Sri Lanka at Expo 2020 Dubai as a united front with other Sri Lankan entities such as EDB, Tea Board, Gem and Jewelery authority, Laksala, Sri Lankan Airlines, BOI to name a few. We had many constraints, time, budget and pandemic. Nevertheless we made it at Expo. We will promote, showcase Sri Lanka and facilitate partnerships for opportunity creation. We will do our best to position and champion Sri Lanka at Expo 2020 Dubai”.

Declared as the growth decade from 2021 to 2030 for Sri Lanka seeks a world of opportunities in investments. With the creation of the ‘One-Stop-Unit’ and ‘Single application’ system for Tourism investments and the support extended with zero VAT, Tax holidays, exemptions and other facilitations a boom in the tourism investments are expected and world invited to be a part. Also the Sri Lankan delegation is represented by BOI (Board of Investment in Sri Lanka) and Post City which will showcase many of lucrative and high potential opportunities of investment on offer for the investors.

Speaking about Sri Lanka’s participation at Expo 2020 Dubai, Sri Lankan Ambassador to UAE, Ambassador, Malraj De Silva said,”Sri Lanka is proud to be part of Expo 2020 Dubai. We have united best of Sri Lanka at the Expo Pavilion and we have three messages for the world. First being our investment opportunities in Tourism, Port City and other areas, second being our World Class Tea, Gems and Spices. Third is Tourism, inviting the world to visit us and to enjoy a world class offering. See you all at the Sri Lankan Pavilion”.

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Business

Global CEO Forum fetes one of most influential SL entrepreneurs

Published

13 hours ago

2023/09/29

Thilina Walpola

In tribute to the late Merril J. Fernando, the esteemed Founder of Dilmah Tea, the Global Brand Creator 2023 Award was bestowed at the Global CEO Forum held recently in Sri Lanka. This prestigious accolade was presented to Kirmali Fernando (the daughter-in-law of late Merril J. Fernando) by the Governor of the Central Bank Dr. Nandalal Weerasinghe, Kataro Katsuki, Deputy Head of Mission at the Embassy of Japan in Sri Lanka, Janaka Abeysinghe, CEO -SLT MOBITEL, Dr. DMA Kulasuriya, Director General-NIBM, Ahamed Ikram, Director-Emerald International , Dilanga Karunaratna- Director Otto Bathware and Anura Siriwardena, Chairman-Global CEO Forum.

Business

Coca-Cola Sri Lanka extends its ‘Adopt A Beach’ program for a third year

Published

13 hours ago

2023/09/29

Thilina Walpola

The volunteers from Coca-Cola's ‘Say We Care’ team, Clean Ocean Force, the media, and the Chief Guest.

Coca-Cola Sri Lanka Ltd. proudly continues its mission to safeguard Sri Lanka’s shorelines by extending the ‘Adopt A Beach’ initiative for a triumphant third year. This exciting announcement aligns with the celebration of International Coastal Cleanup Day on September 16, 2023, emphasizing the paramount significance of coastal preservation.

Commemorating the partnership with an exclusive beach cleanup and an enlightening session at Crow Island Beach, the day’s proceedings were honored by the presence of the Governor of the Western Province and Marshal of the Sri Lanka Air Force, Roshan Goonetileke and key government stakeholders representing the Ministry of Local Government, Colombo Municipal Council, Environmental Police Division, Coastal Conservation Department, Waste Management Authority and the Crow Island Beach Management Society.

Additionally, underlining the vital role that the youth of our nation play in forging cleaner and safer coastal regions, particularly through the realms of media and volunteerism, the occasion also brought together young talents from the media sector and a dedicated team of volunteers from the Clean Ocean Force, Clean Ocean Force Youth Club of the Ocean’s University, Clean Ocean Force Youth Club in Negombo, Rotaract Club Colombo Regent, Shri Vimukthi Youth Association, youth from International Schools and Adfactors Public Relations Lanka.

Business

PLC’s profits surge 80.9% in Q1, amidst challenging environment

Published

13 hours ago

2023/09/29

Thilina Walpola

People’s Leasing & Finance PLC (PLC), a pillar of strength and stability in Sri Lanka’s financial sector, successfully concluded the 1st Quarter of the fiscal year 2023/24 with a year-on-year increase in Profit of 80.9% in the midst of a challenging economic landscape.

PLC’s top line interest income recorded an impressive 10.2%, reaching Rs. 7,465 million owing to the increased investment income during the quarter. However, the company’s net interest income showed a modest fall when compared to the first quarter of 2022/23. This was mostly the result of higher interest expenses brought on by the repricing of deposits to higher rates in line with higher policy rates. Despite the stated decrease in net interest income, PLC was able to end the first quarter with a profit after tax (PAT) of Rs. 331 million as opposed to Rs. 183 million recorded in Q1 2022/23 thanks to the significant year-on-year reduction in Impairment Charges as well as reduction in operating expenses, demonstrative of an intensified commitment to internal sustainability.

Similarly, PLC Group also recorded a PAT of Rs. 552 million during Q1 2023/24, reflecting a year-on-year increase of 21.5% mainly driven by the significant reduction in the Group’s impairment charges and other losses for loans and receivables.

Even in the face of a highly inflationary environment, PLC successfully reduced total operating expenses by 3.5% compared to the corresponding quarter in the year prior due to a determined effort to increase efficiency through digital initiatives, right-sizing of branches, and improvements in internal processes. PLC recognized the significance of recalibrating its balance sheet in a setting not favourable to business expansion and took strategic measures to ensure the right sizing of its balance sheet resulting a total asset base of Rs. 155,380 million as of 30 June 2023. Backed by these strategic moves, total asset base of the PLC Group also remained resilient at Rs. 179,948 million as of 30 June 2023.

In an extremely volatile and complex business setting PLC adopted a highly disciplined liquidity management approach to ensure financial stability whilst maintaining capital adequacy ratios well ahead of the statutory minimums at the end of Q1. The majority of PLC’s funding needs were met through improved collections enabling PLC to remain watchful in growing its deposit base in a high-interest environment. Despite these measures, the deposit base of PLC remained robust at Rs. 93,228 million as of 30 June 2023, showcasing strong customer confidence. The Group deposit base also remained strong at Rs. 100,439 million, as at 30 June 2023.

Meanwhile, PLC retained its No.1 position as Sri Lanka’s Most-Loved Brand in Leasing and Finance category, as ranked by Brand Finance in LMD Brands Annual. The company’s steadfast dedication to excellence was also evident in its ascent from 51 to 36 in the esteemed “Most Respected Entities” ranking by LMD within just one year, further cementing its position as one of Sri Lanka’s most respected and trusted financial services providers.