to focus on 'proper' risk management
Mandana Ismail Abeywickrema
government has decided to focus on 'proper' risk management
through diversifying in order to manage a balanced economy.
to The Sunday Leader, Treasury Secretary, Dr. P. B.
Jayasundera observed that having several players in one
particular field is "good" risk management.
direction the previous government took with regard to bringing
in a second player to the petroleum market was a move in the
right direction," asserted Jayasundera.
privatisation is not considered an option by the government to
revive ailing enterprises in the country, Dr. Jayasundera
feels that restructuring institutions and bringing in several
players to a particular field - for example, in petroleum -
would reduce the risks involved in heavily depending on one or
two players for the country's fuel requirements.
you don't want to privatise, there is no harm in having two or
three players, even government-owned ones, because each player
might play differently. They may have different procurement
practices, they may manage their risks differently, they may
go to different banks and all those innovative practices will
take place only if you have more than one player," he
of the controversy that surrounded the possible entrance of a
third player in to the fuel market, Bharath Petroleum
Corporation (PBC), Dr. Jayasundera maintained that no decision
has been made as the Ceylon Petroleum Corporation (CPC) trade
unions that opposed the matter have agreed to provide the
government with a viable alternative to bringing in a third
player to the market.
Dr. Jayasundera pointed out that unless CPC becomes stronger,
even with two players, the corporation might not be able to
survive. "They have to become a strong corporate
entity," he said.
pointed out that if IOC, a 95% government owned entity and BPC,
a 100% government owned corporation, could perform as
enterprises, CPC would have to quickly take stock of the
situation and improve.
Jayasundera also noted that diversifying is always a good
a country, given the fact that petroleum is a product imported
almost 100% to this country, it is good to diversify. Having
only one enterprise working to meet the country's entire
petroleum needs is a risk," he said.
few years ago the petroleum bill was small, amounting to about
US$ 500 or 600 million but today the importing of refined
products are as big as what we produce through our refinery.
Therefore, it is good to diversify the risk and be organised.
Can CPC manage US$ 1,300 million worth of business? It is good
to divide and compete," he observed.
the amount of the risk the country would be faced with if we
had only one state bank. It is also a risk management
aspect," he said.
Board considering privatising CHS
Ceylon Hotel School (CHS) is to be privatised in the near
future, The Sunday Leader reliably learns. According to CHS
sources, the Sri Lanka Tourist Board (SLTB) is currently
considering privatisation. Sources claim such a decision would
seriously hamper the school's reputation and also put it
beyond most of the students as many come from low-income
it is to be privatised, the students would have to pay high
fees and due to this, the school would cater only to the more
affluent sections of society. Most of our students today come
from areas such as Anuradhapura, Puttalam, down south, etc.,
and it is these students who excel and win medals for the
school," sources said.
to the sources, in the event the CHS is privatised, many
talented children from low-income families would be deprived
of this education.
also claim that due to the Voluntary Retirement Scheme (VRS)
offered by the SLTB to the senior lecturers at the CHS, it was
hampering the school's operation and also reputation as many
of the senior and experienced lecturers had left.
registrar of the school was also offered this scheme and left
as a result. First of all, he did not deserve this scheme and
secondly, we cannot find a suitable candidate to fill this
position. He was offered Rs. 1 million by the SLTB through
this scheme," sources claimed.
Director General, SLTB, S. Kaleichelvam said this scheme was
offered to senior lecturers in order to recruit new lecturers.
have advertised for the post of principal and lecturers and
also recruited four new lecturers," Kaleichelvam said.
However, sources from CHS said these four lecturers were only
visiting lecturers and had been recruited since the school was
short of lecturers.
post of principle has been vacant for close to an year.
dollar bonds to be auctioned
Central Bank on September 9 will auction Sri Lanka Development
Bonds (SLDBs) for US$ 55.25 million in a bid to manage the
country's external reserves. So far the bank has issued SLDBs
twice earlier in June and August respectively.
to a financial analyst, when the country is experiencing a
dearth of dollars, mainly attributed to the fact that there
have been no foreign direct investments, aid or loans being
granted, the country has to look into other means of
increasing its external reserves.
a situation has prompted the Central Bank to issue dollar
to the analyst, the issuance of dollar bonds also helps
maintain the dollar rate at manageable levels, which otherwise
would be as high as Rs. 110.
June, the bank auctioned SLDBs worth US$ 144.7 million on an
interest rate of LIBOR and 1.85% followed by the August
auction, which saw bonds worth US$ 50 million being auctioned
on a LIBOR and 1.79% interest level.
further observed that the necessary cash for the purpose would
most probably be taken out of NRFC accounts in the country.
noted that at such a point, people holding NRFC accounts would
run the risk of having a lesser amount in their accounts as
the bonds would be issued for a period of two years.
an official from the Central Bank while denying that money
would be taken from NRFC accounts said the money would be
taken from commercial banks.
further noted SLDBs are issued to maintain the country's cash
flow, which is part of the government's borrowing programme.
to Treasury sources, the government has granted approval to
auction US$ 260 worth bonds. SLDBs were first issued in 1998.
has a bearing on productivity
consciousness among employees helps employers achieve
increased productivity and profitability. A recent survey
revealed that 88% of the industrial accidents are due to human
error, a further 10% due to mechanical failure and 2% due to
negligence. We are well aware that most of these injuries and
accidents are preventable and their prevention will only add
to the employer's gain. At the same time mechanisms for
accident prevention would enhance employee morale and
effectiveness. Therefore, it is a win-win situation for both
employee and employer.
Lanka has had a distinguished history in the concept of
'worker safety' dating back to 1896, when the first
legislation to protect minors who were mostly in the graphite
industry, was introduced to the Mines and Machinery Act.
Subsequently the first labour medical officer was appointed in
1937 under the Factories Ordinance legislated in 1942.
early part of the story of safety in our country was mainly
confined to policing the compliance of safety standards. The
thrust of the Labour Department's effort was to ensure the
monitoring of occupational safety and health under a medical
officer and another on workplace safety under an industrial
engineer. Nevertheless, the value addition was mainly through
the provision of advisory services on industrial safety and
health of the workers and on safeguarding and improving
working conditions by providing lab facilities, research
services and information through worker education and training
of human resources, particularly in factories.
ILO had reported over 270 million accidents in the world in
2002, while industry related illnesses afflicted 160 million
workers. This was at the cost of a whopping US$ 1.2 trillion.
By adopting some of the safety methods spelt out by the ILO
and implementing them in the respective units of their work
place, companies will save millions of rupees in damages and
loss time. So the message has to transcend that. We have to
standardise prevention. The onus of worker safety is with the
employer. We all realise the cost advantage of preventing loss
of many man days due to injury or due to work related
illnesses. The model employer who added the sixth S to the 5S
programme, needs to be emulated.
place productivity is not the sole proviso of better methods
and in the quest for quality, one has to champion the cause of
safety in the factory floor, operation of machines, protection
of limbs, eyes and other organs susceptible to toxic or other
industrial hazards. Money spent on promoting safety and
preventing industrial accidents is an investment in quality.
me illustrate this with a situation where, for instance, a
particularly skilled worker specialising in welding is engaged
in an automobile production line. If his eyes are not
protected properly, he may probably lose his sight at some
stage. This would cause the reject rate in panel beating/ or
assembly operation to rise, which in turn causes loss due to
quality defects. Furthermore, there would be other adverse
effects such as the hospitalisation bill of the worker, his
wage and compensation payments, not to mention the machine
down time and the loss of man days due to his absence. This
omission can spell disaster to the worker and the production
line. Prevention of hazards and accidents should be the
keynote in our approach to reaching higher productivity.
this context protecting the health of the worker, providing a
secure work place free of risk and providing a comfortable
work environment would no doubt contribute positively to the
enhancement of productivity and quality. Good housekeeping is
another dimension of this drive to achieve a safe and
productive work environment. You may be familiar with the
Japanese 5S method -
clear and clean up the clutter in the work place, put
everything in its place and have a place for everything,
standardise the practice, review the practice and train on a
housekeeping therefore not only serves to reduce unnecessary
effort and time, but also makes the work place clean, tidy and
safe to work in. It is vital particularly for a manufacturing
environment. Businesses therefore have to look beyond the
bottom line, work place safety is critical for business
success and the responsibility of the employer. In fact a
famous Japanese entrepreneur, Matsushita, once said profits
should not be reflection of corporate greed but profits are
the rewards of the firm if it continues to provide true value
to its customers, to help its employees to grow and to behave
responsibly as a good corporate citizen. What is important
here is that this outlook is based on an acceptance that a
firm does not function in a vacuum, that its success is
dependent on the fulfillment of certain obligations to
assessment is a proactive measure to eliminate or minimise
workplace safety and/or occupational health risks associated
with various functions or activities. Occupational Health Risk
Assessment (OHRA) is a systematic process aimed at assessment,
evaluation and mitigation or elimination of potential health
risks across the following 12 categories of illnesses
associated with industrial activities or functions:
Allergic respiratorial: All asthma, bronchitis,
rhinitis and other allergic respiratory disease caused by
allergy to chemicals and manufactured products or raw
Non-allergic respiratorial: All other respiratory
diseases or injuries. This
includes lung infections such as pneumonia.
Allergic dermal: All skin rashes caused by allergy to
chemicals and manufactured products or raw materials, etc.
Non-allergic dermal: All other skin rashes or lesions.
This includes skin eczema / dermatitis etc.
Musculoskeletal: All illnesses that are caused or
aggravated by repeated or cumulative ergonomic work factors
such as neck ache, lower back ache etc.
Physical: Includes illness from excessive noise,
radiation, temperature, and pressure exposures, such as noise
induced hearing loss, frostbite, etc.
Infections: All infections acquired from business
travel, on-site food services/catering, infections acquired
from other work activities such as, Hepatitis A/B,
Tuberculosis, and HIV.
Systemic: All organ or body systems health effects
caused by exposure to manufactured products, raw materials, or
processes, such as chemical induced hepatitis.
Mental health: An acute or chronic mental health
condition, which can be diagnosed by a health professional as
a definable illness (e.g. depression, post traumatic stress,
and anxiety disorders) and is caused or significantly
contributed to by the work environment.
Cancer: All cancers caused by exposure to manufactured
products, raw materials, or processes, such as Mesothelioma
caused by asbestos exposure.
Reproductive: All miscarriages, cases of birth defects,
infertility, etc caused by exposure to manufactured products,
raw materials, or processes.
execution of OHRA would deliver the following:
Creation of an active 'information repository' on:
category and nature of occupational health risks across 130
work locations at site
and data about the most common (high probability) occupational
health risks across 12 illness categories
and data to support and substantiate alternate deployment
mechanism of affected employees, upon detection of
occupational illness as well as post recuperation
Action plans to alleviate the impact of health risk to
the 'critical mass' exposed to 'health critical' work
risk prioritisation table may be used to develop a robust risk
assessment, categorisation process.
note that the monetary values indicated are only illustrative
of the extent of damage and not a prescriptive figure that
needs to be necessarily adopted by all businesses. In fact, a
business must establish its own monetary / nonmonetary
standards / limits with regard to assessment and evaluation of
potential harm or disruption to normal functioning that may be
caused by various categories of safety and health risks.
conclusion, it is a business imperative to systematically
assess, evaluate and develop action plans for elimination and
mitigation of potential work related safety and health risks.
Such an assessment tool-kit must be reviewed and revised
annually in order to update the assessment framework in
alignment with modifications or alterations in business
processes. This would go a long way in enhancing employee
morale and effectiveness and thus process and product quality.
Bank raises US$ 35 mn. syndicated loan
Commercial Bank of Ceylon and Standard Chartered Bank (SCB),
signed a historic first, an internationally syndicated loan
facility of US$ 35 million for Commercial Bank, last week.
mandated lead arranger, SCB successfully syndicated the
364-day facility, which was launched at US$ 25 million
initially, and closed at US$ 50 million - a 100%
oversubscription that reflected the confidence commanded by
the two banks in the international arena.
was able to bring together an international syndicate of 12
banks, from markets and cultures as diverse as China, USA, the
Middle East, South Asia and Europe. The other banks in the
syndication, excluding SCB, are Al Ahli Bank of Kuwait, Arab
Bank of Kuwait, Arab Investment Company, BankMuscat,
Commerzbank, the Export-Import Bank of China, Gulf Bank,
Mashreqbank, National Bank of Kuwait, United Bank Limited,
Union National Bank and Wachovia Bank.
is the first loan raised by Commercial Bank from international
debt markets and the bank has decided to utilise US$ 35
million out of the US$ 50 million available for general
corporate purposes, the bank announced at a news conference
at the formal signing of the Syndicated Loan Facility, Sri
Lanka CEO, SCB, Vishnu Mohan described the success of the
initiative as a high point in a long standing relationship
between the two banks. SCB, which has been present in Sri
Lanka for 112 years, held a 40% stake in Commercial Bank up to
1997 and remains Commercial Bank's largest correspondent bank
and number one partner for all international transactions, he
syndicated loan is the most recent in the SCB's growing
portfolio and underlines the success of the bank's heightened
emphasis on bringing its global expertise and a range of
products to partner its customers.
Director, Commercial Bank, Amitha Gooneratne said the
syndicated loan facility was extremely timely as it has come
at a time when the country is in need of foreign exchange.
restrained from violating patents and industrial design
Caderamanpulle of St. Regis Packaging (Pvt) Limited
successfully petitioned court in obtaining interim relief for
infringement of the plaintiff's intellectual property rights.
The High Court of the Western Province in the exercise of its
civil jurisdiction in Case No. 33/2004(3) on August 31 issued
three enjoining orders in favour of M.L.C. Caderamanpulle, the
plaintiff, in an action instituted against Mohamed Ajmal of
Gelioya and Quikpak (Pvt) Limited of Gelioya.
a pioneer in the packaging industry and chairman, St. Regis
Packaging (Pvt) Limited, is the registered owner of Patent No.
10694 granted in October 1994 for a product called 'Safe T
Pack' (container pack) and Patent No. 11765 granted in
November 1999 and Industrial Design No. 5587 for a product
called 'Rigid T Sack.'
'Safe T Pack' (container pack) and 'Rigid T Sack' are superior
in design and construction to Multiwall Paper Sacks in that
the rigidity of the plaintiff's packs enable them to pack
leafy teas without getting crushed and retains the brick shape
and prevents bulging after packing and transport and was
invented to eliminate problems that plantations, blenders of
tea and shippers had with a Multiwall Paper Sacks.
become aware that the M.H.M. Ajmal, the first defendant, had
obtained a purported Patent No. 13237 and that Quikpak (Pvt)
Ltd., the second defendant was manufacturing, marketing and
offering for sale a container dependent on the violative of
the plaintiff's patents / industrial designs without his
consent, Caderamanpulle instituted action to protect his
intellectual property rights granted to him under the
Intellectual Property Act No. 36 of 2003.
support of the action, High Court Judge, A. W. A. Salam issued
three enjoining orders to the plaint restraining the
defendants from infringing the plaintiff's Patents No. 10694
and 11765 and Industrial Design No. 5587 in the guise of the
purported Patent No. 11237.
launches SL's first money market fund
Asset Management Limited (NAMAL) launched the NAMAL Money
Market Fund - the first of its kind in Sri Lanka - last week.
It offers a new investment opportunity for Sri Lankan
investors to manage their cash. The fund will be officially
open to accept investments commencing September 6.
intend achieving three key objectives for the investors:
maximise current income, preserve capital, and provide
liquidity," said CEO, NAMAL, S. Jeyavarman. "The
fund's features are designed to achieve these key objectives.
The fund will distribute four dividends a year to provide
regular income. Investors can open an account in the fund to
invest their surplus cash, and withdraw what they want, when
and capital gains from the fund are currently exempt from tax.
This special feature makes the fund an attractive,
tax-efficient method for short-term investments. In order to
minimise risk and ensure high liquidity, the fund will only
invest in high quality, fixed income generating money market
securities, with a maximum maturity limit of one year at any
point in time.
unique feature of the fund is that transactions in and out of
the fund do not attract any charge. Fund management fees are
also kept low to maximise returns to investors.
investments in the NAMAL Money Market Fund will be in
scripless form. As a result, investments and divestments can
be done very quickly, with minimum paperwork. Investors can
withdraw their money partially or totally within two working
days. They will receive regular reports to keep them updated
on the fund's activities and performance.
Finance profits up
Finance's second quarter has proven to be a very profitable
one. LB Finance released their quarterly result for June to
their shareholders, which boasts of a whopping profit of Rs.
17.794 million for the second quarter in comparison to Rs.
3.802 million for the same quarter in 2003.
growth has been considered commendable, in the light of the
uncertain economic environment and the significant changes in
the operating model.
income for LB during the quarter is Rs. 117.968 million where
as the interest expenses remain at Rs. 71.043 million
resulting in a net income of Rs. 46.925 million.
the company showed a loss of Rs. 16.664 million for the first
quarter ended March 31, this year. It has turned around in the
second quarter by making a year to date profit of Rs. 1.130
deposit base stands at Rs. 2.123 billion and earnings per
share ratio have improved from a negative 0.12 to a positive
0.08 as of June 30, this year
are pleased with the great strides we have taken into a bold
new phase of operation. We have had an amazing second quarter
which has over exceeded last year's profit in leaps and
bounds," said Managing Director, Sumith Adhihetty.
Finance aims to introduce a diversified portfolio of products
to activate the operation of the finance industry and is the
pioneering finance company to engage in pawn broking. To date
they have opened 19 pawning centres island wide, Slave Island
being the latest addition.
separate real estate service division has been established to
handle the real estate inquiries. This section will operate
with the likes of a special real estate exchange where they
arrange the meeting of the buyers and sellers.
Group records 75% growth in net profit
the pioneers of leasing in Sri Lanka, recorded an impressive
75% growth in net profit in the first quarter of the financial
year 2004/05. Net profit for the quarter was Rs. 144 mn.
compared to the net profit of Rs. 82 mn recorded for the first
quarter of the previous year. The group profit was also up by
73% to reach Rs. 149 mn.
the highly challenging and competitive business environment,
LOLC achieved an 11% increase in operating income and a 25%
increase in operating profits. The annualised EPS was Rs.
12.08, reflecting a 75% increase compared with an EPS of Rs.
6.90 in the previous year. Net asset value per share increased
to Rs. 41.01 from Rs. 36.29.
on capital employed increased to 29% at the end of the quarter
compared to previous year's 19% and return on assets increased
to 7% compared to 5%, in the previous year. Total assets of
the company grew by 13% to reach Rs. 7.8 bn. as at June 30,
funds amounted to Rs. 1.9 bn. at the end of the quarter
compared to Rs. 1.7 bn. in the previous year. The market
capitalisation of the company increased to Rs. 3.28 bn. from
Rs. 2.92 bn. in the previous year, resulting in a 12% growth
in shareholder wealth. During this quarter, LOLC paid a final
dividend of Rs. 39 mn. for the financial year 2003/04. Total
dividend for the year 2003/04 amounted to Rs. 92.7 mn.,
recording the highest level of dividends paid since the
inception of the company, in 1980.
sustain business growth LOLC has embarked on a well-planned
branch expansion programme. LOLC now has 12 branches in key
towns such as Kandy, Kalutara, Gampaha, Galle, Anuradhapura,
Ratnapura, Nuwara Eliya, Matara, Kurunegala, Kochchikade,
Badulla and Kiribathgoda and plans to further expand the
branch network to better customer reach. In keeping with
LOLC's innovative spirit, the company continues to introduce
value added financial products and services to its customers
and also launched a company-wide initiative to achieve service
on book piracy to begin
seminar organised by the Book Sellers Association of Ceylon in
association with the Colombo International Book Fair is seen
as the catalyst for a long overdue war on book piracy in Sri
of the agenda of the sixth Colombo International Book Fair (CIBF)
opening at the BMICH next week, the September 7 seminar
'Piracy vs. the rights of
publishers under the Intellectual Property Act' will
feature presentations from campaigners across the Palk Strait
on an issue that has hitherto eluded the spotlight in this
Indian lawyer, Akash Chittranshi (considered a leader in
copyright law in the Asian region), Director General, National
Intellectual Property Office (Sri Lanka), Dr. D. M.
Karunaratna and Superintendent of Police, Ravi Widyalankara
are billed to be the three main speakers at this event, which
will take place at the BMICH Cinema Hall from 9 a.m. to 1 p.m.
The event is open to publishers, the media, law enforcement
authorities and interested members of the public.
piracy is a relatively new but consequential issue in Sri
Lanka," a spokesman for the Book Sellers Association of
had initially pirated books such as basic readers for primary
schools, but lately some popular titles of British publishers
have also surfaced, indicating that the problem could be much
larger than first believed, the spokesman said. "We have
found that even Sinhala publications of the Education
Department are now being pirated," he disclosed.
the loss of revenue to legitimate publishers and the authors,
an area of concern is that many of the pirate versions of
educational publications are copies of outdated versions,
causing serious problems for the unsuspecting buyers of these
books, the spokesman explained.
association has also found evidence of unauthorised
translations of popular titles, which would be another area
for the attention of intellectual property authorities.
"Authorities in Sri Lanka are yet to blow the lid off the
problem, but we hope that this seminar will at least help open
some eyes," the spokesman for the organisers said.
biggest logistics hub geared for growth
Park, the largest logistics center in the island, is offering
their clients a range of unique services aiming to reduce the
cost in the supply chain.
Transportation & Logistics (Pvt) Ltd. (GTL), which owns
Global Park, believes that with the services they offer
garment manufacturers, transportation and logistics costs in
the supply chain can be significantly reduced, thereby
reducing the cycle time of the product reaching the ultimate
more about Global Park, Manager (Marketing), Manoj. C.
Fernando pointed out that within the 300,000 sq. ft. of
state-of-the-art warehouse space and the 40,000 sq. ft. office
space, garment manufactures and buyers could benefit immensely
by using their value added services.
of the traditional method where the goods are sent to the
foreign buyers' warehouse or distribution centres in their
country where operations such as quality audits, pick and
pack, touch up, ratio packing etc., take place, Global Park
will do the entire operation in house before it leaves the
country. This way, both the manufacturer and the buyer could
save a tremendous amount of money as well as time.
rapid development of global sourcing has brought with it many
problems for both the garment retailers and manufacturers.
Product development, production and sales may now be separated
by thousands of miles, requiring a new and innovative approach
to logistics, if hard earned reputations are not to be lost.
Park comes armed with a new and innovative approach to
logistics, by offering several cost saving methods in order to
benefit the manufactures as well as the retailer.
Park offers a one-stop-shop for end-to-end logistics by
providing regional and global transportation in combination
with localised added-value services. Global Park is the
exclusive logistics center for Marks & Spencer's 'zip
project.' The initial concept of Global Park as an offshore
warehouse in this part of the world was developed with the
blessings of Marks & Spencer, the leading garment retailer
in the UK.
Park, acting as a centralised consolidation point between the
manufacturer and the buyer, could provide consolidation
services between the countries in the region.
confidently stated that by using Global Park services, there
is no way the cost in logistics will increase.
19-acre Global Park site is located within five minutes drive
from Bandaranaike International Airport and is a 45-minute
drive from Colombo's seaport. At Global Park, retailers and
wholesalers in the US or Europe can have their Sri Lankan or
regional production stored or consolidated offshore in a
secure and transparent environment.
handling operations, which were usually done at foreign
warehouses, can now be carried out in Sri Lanka at Global
Park. Quality stock can now be delivered directly or closer to
the final point of sale further reducing handling costs,
cutting transport costs which reduces vital time out of the
huge warehouse with bonded facilities and the on site customs
officers make it possible for GTL to operate a 24 hours, seven
days a week. GTL also pays special emphasis on round the clock
security offering a safe environment to their clients and the
goods they are responsible for.
to General Manager, Global Park, Sepalika Jayawardena, even
quality audits could be carried out on their merchandise as
directed and examined according to their instructions, if the
client requires it.
warehouse also boasts a huge racking garment system called
Garments on Hangers (GOH), with a capacity of 1.5 million
individual garments at any given time.
innovative and exclusive concept called vacuum pack is also
offered to reduce the volume of the shipments, where moisture
in garments is taken off to retain the quality of the garment
to the consignee point, mentioned Jayawardena.
also offers other value added services such as hand
embellishment where sequins and beads are attached to the
garments and looping can also be done on request.
target is to be the preferred logistics supplier to the
garment industry," emphasised Jayawardena.
fully equipped finishing department and the hand embellishment
section had become a number one attraction to most of the
Park handles all finishing work from the end of sewing lines
up to the dispatch, such as trimming, cleaning,
pressing, quality inspection and packaging saves the
manufacturers space and labour to concentrate on their
site cargo verification also could be done at Global Park and
CFS operations are carried out at the complex.
catering to the garment industry, GTL Global Park is open to
the non-garment sector as well. At present they handle a pick
and pack operation for export to the world-renowned brand
Dankotuwa Porcelain and also handles a storage and
distribution service of branded computers.
Park has more than 50 top clients including Brandix, MAS, SR
Gent, APLL, Sinotex, Martin Emprex, Courtaulds Clothing, NNE,
Hirdaramani , Eskimo, Comfortwear, Hemas, and Precision
Interlinings. Most of the clients using Global Park services
supply to major brands such as Marks & Spencer, Sara Lee,
Tesco, NEXT, Jones New York, Haband, and Kellwood, among
unveils host of benefits
way one looks at it, Nexus cardholders benefit from using this
card - free cash points, rewards, shopping for free and even
doubling of points.
is how the Nexus card works: Nexus is a points card where a
certain percentage of the customer's bill is given back in
points. When making payments at any Nexus outlet, once the
Nexus card is handed over, the points that are won are added
to the customer's credit.
that accept the card give different percentages and one point
equals Rs. 1. To begin using the card, a minimum of 50 points
should be collected. In comparison to other loyalty cards,
Nexus loyalty card gives the highest number of points.
Nexus loyalty card was launched four years ago and has a card
base of 36,000 to date and is accepted by more than 30
companies with a spread of over 130 outlets. It is the premier
loyalty card in the country in terms of acceptance, usage and
outlets are very carefully selected and we only work with
trusted brands where quality is ensured," assured
Manager, Nexus Networks (Private) Limited, Favian Weerackoon.
Nexus loyalty card is accepted by Mackinnons American Express
Travel, Keells Super, Elephant House Super Pola, DHL, Odel,
Keells Resort Hotels, Abans, Comet Cable, Union Chemists,
Dialog GSM, Expo Air, Vijitha Yapa, Pizza Hut, Hilton Colombo,
LMD, Autodrome, Wickramarachchi Opticians, Beyond Basix,
Colombo Jewellery Stores, NTB, Movenpick, The Parfumerie,
Austasia Sports and Leisure Club, Janet Skin and Hair Salons,
Durdans Hospitals, Union Assurance, Medi Calls and Apollo
Hospital, with many more companies on the cards to join the
Networks (Private) Limited - the holding company for the Nexus
loyalty programme - is managed by John Keells Holdings and
partnered by Nations Trust Bank (NTB).
loyalty card users also have the advantage of Nexus being the
only online card. "We are online and Nexus is the only
card that can boast of this facility. The Nexus outlets have
Nexus terminals and points are awarded online, not
manually," said Weerackoon.
with the Nexus card, customers can go to any Nexus outlet to
buy goods to the value of the points on the card without
having to call the card centre or obtain a voucher.
it comes to redeeming points, this is a huge benefit that only
Nexus offers," said Weerackoon.
Nexus card can be used with any kind of transaction, be it
cash or credit card. The added advantage of this is, in the
event the credit card also offers points for usage, the
cardholder can earn those points as well, resulting in a
also has an exclusive partnership with American Express credit
cards and as a result, all American Express credit cards
issued by NTB have the Nexus programme inbuilt and therefore,
cardholders do not have to carry two cards.
this benefit, cardholders with American Express credit cards
from NTB when buying goods on credit have the advantage of the
credit transaction and the Nexus points transaction taking
place simultaneously. Nexus points can also be redeemed with
credit cards only give points, for redemption of points
customers have to call the card centre and request a voucher.
The points can be redeemed only once the customer receives the
voucher. Being able to redeem points with the American Express
credit card from NTB is another unique feature," said
also has a co-branded tie-up with Dialog GSM, with regard to
Dialog GSM's Club Vision members. With this, once a Nexus
cardholder registers his/her card with Dialog GSM and pays the
phone bills on time, the points are loaded on automatically.
top it all off, Nexus Networks is now carrying out a bonus
campaign during September and October where some Nexus outlets
- DHL, Elephant Super Pola, Medi Calls, LMD, Abans, Odel,
Wickramarachchi Opticians, Beyond Basix, The Parfumerie,
Keells Super, Autodrome - will double the number of points
that are awarded.
this bonus campaign, we tell the customers to keep collecting
points and in November and December, we will have a redemption
plan. When redeeming points during this period, customers
would be given more value for their points. For example, if
the points collected equal Rs. 500, the customer will get a
value of Rs. 750 and there will be a lot of attractive
redemption offers," said Weerackoon.
host of benefits offered by Nexus makes the Nexus loyalty card
not an option, but a must have card for the customer because
at the end of the day, it is the customer who benefits,"