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Pure
Ceylon Tea - cleanest in the
world
Ten
years ago the value added component on tea
exports was 48% but today it has dropped to
36.2%. To drive the value added tea industry
up the Industrial Development Board has
teamed up with the Sri Lanka Tea Board where
an innovative solution has been launched by
way of pooling funds, and Rs.70 million was
raised for the purchase of
a liquid chromatograph mass
spectrometer
that can check quality of tea for
ingredients, flavours and chemical residue
including pesticides so that Sri Lanka can
increase the credibility of Pure Ceylon Tea
and thereby enter markets that are stringent
on quality.
The
Chairman, Tea Advisory Committee, Industrial
Development Board, Rohantha Athukorala said
that with this initiative Sri Lanka can now
position our teas to be the 'Cleanest Tea in
the World and become the Tea Nation of the
world."
The
latest production data released by the Sri
Lanka Tea Board reveals that production has
dropped by 18.6 million kgs as at end
September 2007 to 219.43 million kgs of tea
as against the last year volume of 238.11
kgs of tea in the corresponding period.
There are many reasons for the drop in
production. The plantation 'go slow' and
strike experienced in the last quarter of
2006 and the 1st quarter of 2007, followed
by the adverse weather delayed bringing the
tea into full bearing. Further, the high
cost of fertiliser resulted in the lower
application which further effected
production.
Urea
subsidy
On
the impact of the revision of the urea
subsidy last year an analysis revealed that
a 5% drop in fertilizser will result in a
revenue loss of Rs.2.8 billion and a volume
drop of 12 million kgs of tea. This can
explain the drop in production of the 18
million kgs of tea this year as at end
September. What is worrying is that
production in the month of September that
was only 25.3 million kgs is well below last
year's number of 28 million kgs. High growns
declined to a 10 year low of 4.5 million kgs
which is the lowest since the year of the
El-Nino in 1996 where 4.4 million kgs were
produced. The current estimate is that Sri
Lanka will end the year at 305 million kgs
of tea.This would means that we will be
below last year's figure of 317 million kgs
of tea which was an all time record for Sri
Lanka.
Value
addition
and differentiation
Sri
Lanka must invest on value addition rather
than exporting in bulk said Athukorala.
Research must be conducted to understand
which value that best differentiate Sri
Lankan tea. Some of the propositions that
Sri Lanka can concept test are; Sri Lanka - Tea for Quality, Sri Lanka Tea for Cleanest Tea,
Sri Lanka Tea - for Hygiene, Sri Lanka Tea -
for Health, Sri Lanka Tea - for real taste
of Tea.Once the concept has been tested in
each of the countries and in the potential
markets like Tanzania, Malawi, France,
Austria, Belgium, Bangladesh and some other
key countries, the winning idea can be given
to the marketers of tea (exporters) so that
branding and packaging can be developed
accordingly. Sri Lanka must develop 10
brands of tea with the support of the
government so that just like Dilma and
Mlesna others will have a strategy of
building brands based on research in markets
and then letting the private sector take the
lead for commercialisation based on value
addition. The industry has
to make value added teas of 70% of
the exports so that it can get the best for
the country on the limited production base.
Branding
and promotions
"We
need to have a stronger thrust on this side.
A strategy that can be pursued is
"Ethically Produced" platform
which will be in line with the garment
industry positioning launched globally,
recently, on the "Garment without
guilt" positioning. This positioning
can help Sri Lanka claim a premium in the
global market place - maybe to move to
dollars 10 per kg from the current 4
dollars.
"On
the branding promotions we need to have a
wholistic perspective," Athukorale
said.
Commercial
Bank posts strong growth
A
characteristically robust performance in the
3rd quarter of the current year has enabled
the Commercial Bank Group to post noteworthy
improvements in all key indicators and
achieve strong profit growth for the nine
months ending September 30, 2007.
˙In
results released to the Colombo Stock
Exchange this week, the group comprising Sri
Lanka's benchmark private sector bank,
associates and subsidiaries has reported a
pre-tax profit of Rs. 5.32 billion at the
end of the 3rd quarter, a growth of Rs. 1.3
billion or 32.43% over the first nine months
of last year.
˙Profit
after tax for the period at Rs.3.28 billion
reflected an even stronger growth of 39.35%
or Rs. 925.6 million, on a group turnover of
Rs. 25.5 billion which was up Rs. 8.5
billion or 50%.
˙On
the basis of these results, the Board of
Directors of the bank have declared a second
interim dividend of Rs.1.50 per share which
will be paid by the end of November. Earlier
this year, the bank declared a dividend of
Rs. 1.50 per share.
˙According
to Commercial Bank's Senior Deputy General
Manager - Finance and Planning, Ranjith
Samaranayake profit growth was facilitated
by an increase of Rs. 3.10 billion or 57.24%
in the group's net interest income
from Rs. 5.42 billion to Rs. 8.53 billion in
the period under review. This was achieved
with better management of interest margins
in volatile market conditions, and adequate
balance sheet growth in this period, he
said.
Anandaraj
heads Serendib
Leisure
S.Anandaraj,
director operations of Serendib Leisure
Hotels has been appointed as Chief Operating
Officer of Serendib Leisure with effect from
October 1, 2007.
Anandaraj
is a senior hotelier counting over
25 years of experience in the hotel
industry. He started his hotel career with
the Confifi Group of Hotels where he rose up
the ranks from management trainee to manage
Club Palm Garden Hotel as general manager
and subsequently was posted as general
manager of Riverina Hotel. He then joined
Galle Face Hotel as general manager and
served there for one year.
Towards
mid 2003 he joined as director operations,
being responsible for overall operations of
all hotels under the Serendib Leisure
umbrella.
He
is a corporate member of the Institute of
Hospitality, London [formerly known as HCIMA]
and the Institute of Management, London.
He
also held the post of president of the
Ceylon Hotel School Graduates Association
2006/07.
SLML
owns and manages three well known hotels -
Club Hotel Dolphin, Hotel Serendib and Hotel
Sigiriya.
Seylan
profits grow
Seylan
Bank PLC's unaudited financials for the 3rd
quarter 2007 indicated a pre-tax profit of
Rs.1,312.01 mn achieving a notable growth of
39.27% in comparison to the previous year's
3rd quarter.
The bank's net profit after tax also
grew to Rs. 794.44 mn, up by 26.69% over the
comparable period's profit of Rs.627.08 mn
in 2006.
Similarly,
pre-tax profits of the Seylan Group which
comprises subsidiaries Seylan Merchant Bank
Ltd., Ceylinco Seylan Development Ltd., and
Seylan Bank Asset Management Ltd., has also
witnessed a notable boost of 34.98% reaching
Rs.1,382.42 mn in the 3rd quarter of 2007.
Further the group's net profit after
tax and minority interest improved from the
previous year to Rs.821.94 mn, registering a
24.38% increase.
The
bank's improved profitability is attributed
to an improvement in its traditional
key revenue lines being net interest
income (up 13.03%) and foreign exchange
income (up 18.52%). Profitability was
further boosted by other income increasing
36.01% over the comparable period in 2006
due to gains on disposal of identified
assets.
Additionally,
the bank through effective strategies
recouped substantial writtenbacks on Bad
& Doubtful Debts of Rs.450.54 mn thereby
boosting profitability. This was in spite of
new regulations imposed by the Central Bank
of Sri Lanka in December 2006 on general
provisioning for which Rs.224.86 mn was made
at the end of the 3rd quarter of 2007.
The
bank achieved this net profit after tax
despite the negative impact of the two
tiered taxation of VAT on financial services
and corporate taxes had on its profits. Both VAT and corporate taxes totalled Rs.980.39 mn accounting
for 55.23% of operating profit before taxes
including VAT on financial services.
The
deposits and advances of the bank registered
a growth level of 7.10% and 6.84%
respectively for the nine months ending 30th
September 2007, a reflection of the healthy
performance by the 3rd quarter 2007.
Seylan
Bank has been in the forefront of providing
customer convenience to carefully identified
segments.
During
the quarter, the bank launched the highly
popular "Rajina" Account for
women.
"Rajina" account holders
are entitled to a premium rate of interest
on their investments, benefits under Merit
Rewards, a branded Credit Card and special
loan facilities.
The
Bank also introduced the "2 in 1"
Account (Automated Investment Manager)
which effectively couples the best of
both worlds - i.e. of Current Accounts and
Savings Accounts for the account holder.
"Tikiri"
Account holders were given an unmatched
opportunity in a mega promotion with a draw
whereby 25 lucky kids along with a parent or
guardian would be entitled to a trip to
Disneyland in Hong Kong.
Also
involved in the promotion was the child
prodigy, Sarala Kariyawasam who appeared in
the award winning movie Water and is the
Brand Ambassador for "Tikiri"
Accounts.
Seylan
Bank's 114 branch network provides special
counters to service Ceylinco FastCash
recipients.
It's branches also provide extended
banking hours during week days and Saturday
or Sunday along with other banking related
services to facilitate Ceylinco FastCash
remittances.
Leveraging
the best that technology could offer, Seylan
Bank took banking to the doorstep by
empowering its business development officers
with real-time connectivity and Palm Top
Banking equipped with a Personal Digital
Assistant.
Business development officers now
conduct banking functions from remote
locations in selected areas, as per the
vision of Chairman, Deshamanya Dr. Lalith
Kotelawala.
Ceylinco introduces
VIP 3-In- One with fantastic new benefits
Ceylinco VIP On The Spot, the revolutionary
concept which galvanised the sphere of motor
insurance the world over in 2003, introduced
three more spectacular new benefits
recently, as Ceylinco VIP On The Spot 3 In
One.
Ceylinco VIP On The Spot 3 In One,
introduced as yet another revolutionary
innovation by Ceylinco Insurance to their
loyal customers, provides three unique
benefits to customers who sign on with them
for a period of three years. Accordingly,
customers who sign up with Ceylinco for
three years, will get: the No Claim Bonus,
regardless of any claims, while the insured
value of the vehicle is enhanced by 10%
every year, and in the event of a repair
exceeding 30 days, up to two leasing
instalments will be paid. And to add icing
on the cake, all these benefits come in
addition to all the regular VIP benefits,
while the premium remains absolutely the
same and can be paid annually.
VIP
customers will still continue to enjoy the
wide range of unsurpassed benefits they have
always enjoyed, which include the
revolutionary On The Spot claim settlements,
a similar replacement vehicle,
24-hour/365-day roadside assistance, plastic
surgery cover for ladies, insurance covers
for passengers etc.
Addressing a media conference, announcing
the launch of VIP 3 In One, Ajith
Gunewardena, Chief Executive Director of
Ceylinco Insurance General Division,
indicated that they always strived to live
up to the promise of constantly providing
the best for their customers, while
continuing to innovate. He added that
Ceylinco VIP On The Spot 3 IN ONE was still
the only motor insurance that was geared to
settle any claim, anywhere in the island, On
The Spot, 24 hours a day, 365 days a year.
He went on to say that the people of Sri
Lanka believed in Ceylinco because they have
always delivered on promises, and that
living up to the promise was their credo,
while adding that, as a result, Ceylinco VIP
was destined to lead, while others simply
followed.
A
spokesman for Ceylinco Insurance also
indicated that they were very excited about
the new benefits, as it provided a
stupendous reward for existing customers,
while simultaneously providing tremendous
incentive for future customers.
NDB Bank extends its services to
Boralesgamuwa
Residents in the
fast developing Boralesgamuwa area are now
able to enjoy the facilities offered by NDB
Bank, the world class Sri Lankan bank. NDB
Bank’s network offers a wide range of
services to choose from, particularly with
recent additions to the Bank’s extensive
product portfolio. NDB Bank is rated "AA"
(Sri Lanka) by Fitch Rating Lanka Ltd, for
its strong financial profile, conservative
and prudent policies, sound asset quality,
above average risk management and
well-capitalized position.
G2S Notebook
offers true-to-life mobile gaming
ASUSTeK Computer
Inc. (ASUS), a leading provider of
high-performance notebook computers,
announced its notebook designed for mobile
gamers. Based on the latest Intel Centrino
Duo Mobile Technology with advanced graphic
solutions, the G2S Notebook revolutionizes
the way games are played with blistering
speed and true-to-life video and audio
performances - on the go! Group Product
Manager, EPSI Computers, Mr. Sankha
Jayaratne authorized distributors for ASUS
in Sri Lanka, stated that the 17" notebooks
have design details incorporated to elevate
the overall experience, including an OLED
instant display, side/front speakers, hotkey
highlights as well as sidelights. He also
said that the LCD cover with special in-mold
decoration design not only gives the
notebook an instant game machine identity
that simply stands out from the generic
notebook design but it also makes the
surface more resistant from paint chipping
off. Further, he added that the full-sized
keyboard makes mobile gaming ergonomically
comfortable while the W, A, S and D keys are
especially marked with color squares to
match the rest of the notebook color scheme
for convenient access at one glance.
Another super
feature here is that the the ASUS Direct
Messenger display instant messages, system
status and reminder alerts with zero
distraction to accommodate full screen game
mode. Giving the user uninterrupted free
live information update.
Further, the the
Power 4gear+ management feature extends
battery life up to 20-25%, providing a
reliable and continuous operation of power.
Another value added
feature is the integration of " ASUS
Splendid Video Intelligence Technology "
integrating different multimedia data
sources to reduce noise and conversion rate
for a vivid display. Users can enjoy vivid
images with better contrast, brightness,
skin tone and color saturation for all video
applications. The Game and Night View Modes
are great for extra gaming effects that not
only sharpen the image details but also
enhance the outlines ideal for underlying
stealth actions.
Bluetooth 2.0
enhanced data rate transmits three times
faster than the standard Bluetooth for
increased connectivity and synchronization
between digital devices. In addition, a
complete range of input/ output ports offers
dynamic data transfers and storage
including, USB ports, TV-out port, card
reader and express card slots.
Enjoy high-speed
wireless Internet for data access and
transfers with integrated WLAN 802.11 a/b/g.
In addition, ASUS exclusive Net4 Switch
Utility detects available network in the
surrounding environment and allows users to
select and make a switch anywhere, ensuring
smooth connection transitions on the go.
The Parfumerie
joins Ronan International Centre
A
host of internationally acclaimed lifestyle
products and accessories from Damas
Diamonds, Dockers, Signature, Puma, Field,
Addidas, Nike, Triumph, Dilmah, Ritzbury,
Link, Ceylon Biscuits etc., have reserved
retail floor space in the soon to be opened
destination mall-Ronan International Center,
while more premium brands and products are
vying for exclusive partnership with the
center.
Joining the above brands and lifestyle
stores is The Parfumerie, which will offer
customers a shopping experience not to be
missed. The Parfumerie, launched 15 years
ago, is the leading name in perfumes,
cosmetics and skin care in Sri Lanka.
Speaking to The Sunday Leader, Head
of Marketing and PR of The Parfumerie Niki
Hundlani said that the store will be one of
a kind, and a brand new concept, different
to any of the existing Parfumerie outlets.
The
tie up with Ronan International Centre is in
line with The Parfumerie’s rapid expansion
plans, which according to Hundlani is with
the sole objective of reaching out to more
people in Colombo as well as the suburbs.
Hundlani said, "I find that many people hate
having to come into Colombo to do their
shopping, and what’s more, people who live
in Colombo tend to shop outside the city in
places like Nugegoda and Narahenpita and
that’s what prompted the move to the Ronan
International Centre. We had a great
response with our existing outlet in
Nugegoda."
Hundlani went on to say, "Yes we’re luxury
and we’re prestige but we want people to
know that our products are not just for the
high end market. We’ve got something for
everyone here, whether it’s an eyeliner
pencil a shopper wants, a reasonably priced
branded perfume or a really expensive one
it’s all here."
The
store at the Ronan International Centre will
not be a traditional four-walled store
according to Hundlani who stated that
customers will be able to walk right
through, a method that hopes to attract more
customers who would otherwise shy away from
what many perceive to be a prestigious and
inaccessible store.
The
Ronan International Centre is said to be
opened in November this year, in time for
the end-of-the-year festive season and
Hundlani states that there will be prizes,
surprises and many discounts come December.
A
catalogue will be available soon at all
outlets of Parfumerie as a shoppers guide to
what’s in store this December at the
outlets.
Hundlani explained, "Despite the big
spending that comes with Christmas, we all
want to save a little money and we’ll be
giving our customers a chance to do just
that. Besides the discounts, we’ll have
special offers on many items. We’ll also be
having something called a gift scheme, where
if you buy certain products like Hugo Boss
you get gifts in addition to the product,
gifts like exclusive branded and imported
travel and gym bags."
The
eco-friendly design of the mall will boast
of open-to-sky spaces, landscaped greenery
and water fountains, as well as alfresco
sit-outs to relax and interact. The R-Group
International builds on the legacy of one of
Sri Lanka’s pioneer companies Ceylon
Carriers Limited, with over six decades of
experience in the logistics and hospitality
industries.
Ceylinco Homes Group build 45 Houses for
Tsunami Victims
The
Ceylinco Homes Group has embarked on a
project to provide 45 houses for the
families affected by the tsunami in Kalutara.
The foundation stone for the commencement of
‘Ceylinco Sevana’, at a cost of more than Rs.
20 million was laid on 31st October 2007 at
Meneritenne Eliya – Kalutara, by Deshamanya
Dr. Lalith Kotelawala – Chairman and Mrs.
Sicille P.C. Kotelawala - Deputy Chairperson
of Ceylinco Consolidated under the patronage
of Hon. Mahinda Samarasinghe, M.P., Minister
of Disaster Management and Human Rights,
amidst a gathering of community and
corporate leaders and Padmini Karunanayake –
Deputy Chairperson Ceylinco Homes Group and
the Ceylinco team. The 45 families who have
been languishing in temporary shelters will
be granted their permanent home when
Ceylinco Sevana is completed.
Lowe LDB sharpens Brand Building skills
In
town last week was Raj Gupta, a member of
Lowe Worldwide’s Planning Think Tank, which
was responsible for developing very
effective and exciting new planning tools
for the Lowe Group of Ad Agencies.
Gupta took Lowe LDB’s senior staffers
through a Planning Tools Workshop. They
worked on live cases and were joined at
different stages by some of their clients to
brainstorm consumer dynamics with special
focus on specific brands.
Some of the special in depth planning tools
developed and used extensively by the Lowe
Group are Encounter, Path to Purchase,
Growth-Grid, Radar Satellites, and Tipping
Point. |
