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vivo Rewind 2021 – Another Blockbuster Year For The Global Smartphone Brand

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With a variety of product launches, improved customer service, a global footprint, successful events, and increased sales, vivo, has emerged as a global leading smartphone maker, and has had another successful year in Sri Lanka. According to Canalys, vivo ranked fourth in the global smartphone market.

Let’s look back at all of vivo’s accomplishments this year, as we look forward to a much bigger and successful 2022.

Expanded the Product Portfolio

This year vivo expanded its portfolio at an astounding level. It introduced two smartphones in the V series – the V21 5G with a 44MP OIS Night Selfie System and the V21e with a 44MP Eye Autofocus Technology. In addition to this, the brand also launched the Y1s, Y12s, Y51 and Y53s with stellar features at great price points, as part of the Y series portfolio.

Self-Designed Imaging chipset V1

V1, a fully customized integrated circuit chip dedicated to imaging and video applications with leading edge visual quality, was unveiled by vivo. The Imaging Chip V1 meets user needs by optimizing smartphone application scenarios such as viewfinder look and video recording, in accordance with vivo’s imaging system design.

Second Fastest Growing 5G Smartphone Brand

In Q1 2021, vivo became the second-fastest growing 5G smartphone brand in the world, with 19 million units shipped, up by 62 percent from the previous quarter. vivo continues to focus on innovations and breakthroughs in the 5G mobile experience.

CSR Activities under the initiative #vivocares

vivo also undertook two community benefit activities in Sri Lanka under the initiative #vivocares. The first one involved distributing a smartboard to Olcott Maha Vidyalaya in Galle to ensure that 1200 children get an equal digitalised learning opportunity during the ongoing pandemic. For the second activity, vivo provided special donations including bags and stationary items to 150 underprivileged children in Getaheththa Tamil Vidyalaya of Rathnapura district.

EURO Partnership – “To Beautiful Moments” Campaign

vivo became one of the presenting sponsors at EURO and debuted its “To Beautiful Moments” campaign – a platform that encourages and enables fans to be in the moment with friends and family.

Innovation in 5G Technology

vivo is navigating towards large-scale 5G adoption making 5G devices ever more accessible and affordable and has released over 20 models of 5G devices globally. vivo submitted over 5,000 5G proposals to the 3GPP, leading to 15 technical features and getting three technical projects approved. Vivo holds over 3,000 patents for 5G inventions and ranks top 8 in terms of the company’s impact within 3GPP.

Partnership with National Geography – VISION+ Mobile Photo Awards

vivo teamed with National Geography for the second time and launched the VISION+ Mobile Photo Awards. vivo has worked actively to inspire more people to embrace the joys of creation and to accelerate the development of mobile imaging.

Avurudu Festive Campaign

vivo launched a special campaign “Avurudhu Wasi” during the Sinhala and Tamil New Year in Sri Lanka. During this campaign, vivo offered its customers a chance to win special prices like vivo gift boxes and other exciting items on the purchase of exclusive vivo smartphones.

Daraz Consumer Promotions

vivo partnered with Daraz.lk, Sri Lanka’s no. 1 and largest online marketplace to shower their customers with rewards and special gifts and became one of its Diamond partners. Customers were able to win exciting prizes on the purchase of an exclusive vivo smartphone and the V and Y series.

vivo’s 4th Anniversary

vivo recently celebrated its 4th Anniversary in Sri Lanka and thanked all partners, employees, suppliers, distributors and consumers for their constant support and love. In this constant quest towards technology, vivo has made some spectacular achievements this year by becoming one of the top selling smartphone brands in the country, while expanding to 2000+ robust retail store network and 2 exclusive service centers that offer premium after care service.

The brand also made solid partnerships with some key industry players including Abans, Singhagiri, Dialog Axiata PLC and SLT-Mobitel with an aim to serve the Sri Lankan consumers to its full potential.

After another successful year, vivo is all set to push the limits and achieve greater heights in 2022. We’re excited to see what vivo has in store for us next year!



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Conclusion of phase 1 of private placement of Ordinary Shares of JKH to ADB

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Krishan Balendra Chairman JKH

Following is the text of a letter addressed by JKH Deputy Chairman/Group Finance Director Gihan Cooray to the CSE’s Chief Regulatory Officer Renuke Wijayawardhana.

Further to the announcements to the Colombo Stock Exchange on 22 November 2021 and 22 December 2021 regarding the Private Placement of up to a maximum cumulative amount of the Sri Lankan Rupee (“LKR”) equivalent of USD 80 million to Asian Development Bank (“ADB”), through the issuance of up to a maximum of 122,500,000 new ordinary shares of the Company in two phases (Phase 1 & Phase 2), we wish to inform that Phase 1 of the Private Placement of ordinary shares of the Company to ADB was concluded on 19 January 2022.

Accordingly, 65,042,006 ordinary shares (“Initial Placement Shares”) of the Company were allotted to ADB at a price of LKR 154.50 per share on 19 January 2022 for a consideration of the LKR equivalent of USD 50 million. The Initial Placement Shares results in a post-issue dilution of 4.70 per cent in Phase 1 of the transaction.

Additionally, in terms of Phase 2, the Company has issued 39,025,204 non-tradable/non-transferable options (“Options”), which will entitle ADB to subscribe for additional new ordinary shares of the Company (“Option Shares”), for an investment amount of up to a maximum of the LKR equivalent of USD 30 million.

Therefore, the maximum number of ordinary shares that would potentially be issued under the entire transaction, assuming all Option Shares are subscribed for, will be 104,067,210, thereby capping the post-issue dilution on the conclusion of both phases to a maximum of 7.31 per cent.

The salient details of the Options are as morefully detailed in the Shareholder Circular dated 29 November 2021. Based on the subscription date of the Initial Placement Shares, the Option Exercise Period will be from 19 October 2022 to 18 January 2023.

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Bangladesh – Sri Lanka Preferential Trade Agreement: Gains and policy challenges

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By Asanka Wijesinghe and Chathurrdhika Yogarajah

0espite enhanced trade partnerships in South Asia, intra-regional trade is far from reaching its theoretical potential. Similar production patterns and competitive sectors can be the causes. However, bilateral discussions to further lower trade costs continue. The ongoing Bangladesh-Sri Lanka discussions on a preferential trade agreement (PTA) will benefit from knowing the potential gains from reducing bilateral trade costs. In addition, knowledge of products with higher potential for export gains will help optimise the economic benefits from a trade deal.

Bangladesh – Sri Lanka Trade:
The Current Status

In 2018, when discussions on a PTA began to firm up, Sri Lanka’s exports to Bangladesh were USD 133 million, while imports from Bangladesh were USD 37 million. Despite the low trade volume, Sri Lanka’s exports to Bangladesh have grown (Figure 1). In addition, Sri Lanka records a bilateral trade surplus with Bangladesh, which is encouraging given the country’s trade deficit concerns. However, weak growth of exports from Bangladesh to Sri Lanka can be seen from 2001 to 2016 (Figure 1).

The current trade deals between the two countries are still partially restrictive. Both countries keep a sensitive list of products that are not eligible for tariff cuts. Sri Lanka maintains a list of 925 products sanctioned by SAFTA (South Asian Free Trade Area) while Bangladesh keeps 993 products. Sri Lanka’s sensitive list covers USD 6.2 million or 23.8% of imports from Bangladesh. The sensitive list of Bangladesh covers USD 77.6 million or 62% of imports from Sri Lanka. Thus, the elimination of sensitive lists may benefit Sri Lanka more.

Figure 1: Trade Intensity between Bangladesh and Sri Lanka

Source: Authors’ Illustration using Trademap Data.

Theoretically, bilateral alliances deepen trade by removing weaknesses in existing multilateral trade arrangements. A trade deal between Bangladesh and Sri Lanka can simplify trade regulations further. In addition, Bangladesh needs alternative preferential access as graduation from Least Developed Country (LDC) status will take away preferential access to its key markets. For Sri Lanka, increasing bilateral participation in production value chains, especially in the textiles sector, might be an economic motivation. Financial support extended by Bangladesh to manage Sri Lanka’s foreign currency pressures might be a political motivation for a trade deal.

Eliminating sensitive lists can lead to trade creation, although it may not happen due to political and economic reasons. When it comes to tariff cuts, both countries will act defensively as certain products in the sensitive lists are vital for employment and revenue generation. Thus, the success of a trade deal depends on how many products with high export potential are under its purview. In this direction, a group of products with specific characteristics can be identified as an offensive list. For example, Sri Lanka’s offensive list includes products that Bangladesh imports from anywhere in the world, produced by Sri Lanka with a capacity for expansion. Sri Lanka has a comparative advantage in exporting that good, and Bangladesh already has a tariff on the product.

Export Gains from Tariff Elimination

If tariffs on the sensitive lists are eliminated, there will be modest export gains for Bangladesh and Sri Lanka in absolute terms. Sri Lanka will gain USD 24.7 to 49.7 million of exports to Bangladesh, while Bangladesh will gain USD 2.1 to 4.5 million of exports to Sri Lanka. Potential export gains are given in a range due to assumptions on elasticity values used in the partial equilibrium model. Elimination of sensitive lists will generate a higher tariff revenue loss to Bangladesh, ranging between USD 13.5 million to USD 19.1 million. By contrast, Sri Lanka’s revenue loss will be slight at USD 1.4 million to USD 1.9 million.

Whatever the arrangement, it is crucial to include the products with high export potential in the offensive lists (See Table 1 for the major products). Out of 39 products in Bangladesh’s offensive list, 21 are intermediate goods, while 18 are consumption goods. Similarly, 75 out of 115 products in Sri Lanka’s offensive list are intermediate goods. Tariff cuts on intermediate products may induce fragmented production between two countries, which would harness country-specific comparative advantages. Major intermediate goods in the offensive lists are dyed cotton fabrics, cartons, boxes, and cases, plain woven fabrics of cotton, denim, natural rubber, and smoked sheets of natural rubber (Table 1).

The ex-ante estimates predict modest gains for Sri Lanka and Bangladesh in absolute terms, even after completely removing the sensitive list. But complete removal is politically challenging for both countries. Moreover, Bangladesh as an LDC may expect special and differential (S&D) treatment. Thus, the outcome can be a limited PTA in line with weaknesses in existing trade agreements governing South Asian trade. The impact on trade of regional trade agreements in force is negative primarily due to stringent general regulatory measures, including rules of origin (ROO), sensitive lists, and prolonged phasing-in. Given that the estimated modest economic gains of a Bangladesh-Sri Lanka PTA do not justify a trade deal that requires substantial resources for negotiations,the PTA should have fewer regulatory measures and tariff concessions for the products on the offensive lists to maximise the economic benefits of a PTA between the two countries.

Link to the full Talking Economics blog: https://www.ips.lk/talkingeconomics/2022/01/20/bangladesh-sri-lanka-preferential-trade-agreement-gains-and-policy-challenges/

Asanka Wijesinghe is a Research Economist at IPS with research interests in macroeconomic policy, international trade, labour and health economics. He holds a BSc in Agricultural Technology and Management from the University of Peradeniya, an MS in Agribusiness and Applied Economics from North Dakota State University, and an MS and PhD in Agricultural, Environmental and Development Economics from The Ohio State University. (Talk with Asanka – asanka@ips.lk)

Chathurrdhika Yogarajah is a Research Assistant at IPS with research interests in macroeconomics and trade policy. She holds a BSc (Hons) in Agricultural Technology and Management, specialised in Applied Economics and Business Management from the University of Peradeniya with First Class Honours. She is currently reading for her Master’s in Agricultural Economics at the Postgraduate Institute of Agriculture, Peradeniya. (Talk with Chathurrdhika: chathurrdhika@ips.lk)

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Expolanka boosts bourse by adding 21.7 points to ASPI

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By Hiran H.Senewiratne

CSE trading started in negative territory yesterday due to heavy profit- takings but after 1 pm the market began to recover, triggered by index heavy counter Expolanka, which gained by adding 21.7 points to the All-Share Price Index. The stock market yesterday produced a creditable recovery to finish on a positive note after early losses amid a relatively low but healthy turnover level. The Expolanka share price appreciated by 2.5 per cent or Rs 9.50. Its shares started trading at Rs 386 and at the end of the day they shot up by Rs 9.50.

Amid those developments both indices moved upwards. The All -Share Price Index went up by 42.8 points and S and P SL20 rose by 7 points. Turnover stood at Rs 4.9 billion with a single crossing. The crossing was reported in Expolanka, which crossed 100,000 shares to the tune of Rs 39.5 million and its shares traded at Rs 395.

In the retail market, top seven companies that mainly contributed to the turnover were, Expolanka Rs 715 million (1.8 million shares traded), Browns Investments Rs 336 million (19.9 million shares traded), ACL Cables Rs 261 million (2.1 million shares traded), LOLC Finance Rs 231 million (8.1 million shares traded), JKH Rs 193 million (1.2 million shares traded), Expack Corrugated Cartons Rs 162 million (seven million shares traded) and  Softlogic Capital Rs 161 million (11.3 million shares traded). During the day 154 million share volumes changed hands in 37000 transactions.

Yesterday, the US dollar was quoted at Rs 202.91, which was the controlled price of the Central Bank. The actual price would be more than Rs 250, market sources said.

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