PLC is valued 17th among the “Top 20 Most Valuable Brands” of Sri Lanka

“Top 20 Most Valuable Brands”

PLC is valued 17th among the “Top 20 Most Valuable Brands”
of Sri Lanka

People’s Leasing & Finance PLC (PLC) has scaled up from 21st to 17th among
the “Top 20 Most Valuable Brands”. The rating was revealed as an outcome of the research study in the 05th annual brand valuation edition released by Brand Finance. PLC brand was rated AA- and valued at Rs. 4,265 Million compared to Rs. 3,015 Million in the previous year under the Financial Services (Leasing) sector. The PLC brand is the top brand with AA- rating in the non banking financial services sector while the secound slot in the banking segment has been taken by the parent, People’s Bank with a brand value of Rs.19 Billion.

Also important to note is the steady increase in rating in just four years from 2009 to 2013. The Brands Annual 2013 is published by Media Services (Private) Limited and lists and profiles Sri Lanka’s leading brands. Brands Annual is arguably the most comprehensive analysis of brands in this country the rankings and analyses are compiled by Brand Finance Lanka.

 People's Leasing & Finance

About PLC

Founded in 1995, People's Leasing & Finance PLC (PLC) is Sri Lanka's unshakable leader in the leasing sector. In the past 16 years, People's Leasing has built an extraordinary tradition of excellence in all spheres of leasing and is now the established market leader. PLC’s customers range from individuals to SMEs to blue chip companies in every corner of the island. The
Company has contributed immensely to the country's economic growth and the quality of life of millions of Sri Lankans. The People's Leasing Group has diversified to include five subsidiaries, united under the PLC brand. Customers can now obtain Insurance, Finance, Microfinance and Fleet Management services under one roof.

PLC’s user-friendly product range, nationwide outreach and strong foundation of talented management and staff have made the Company immensely profitable. The Company is now a major contributor to the success of its parent, People’s Bank. As a subsidiary of People's Bank, the group enjoys the strength and recognition of its parent and the flexibility of the private sector.
PLC currently holds a stable outlook with international and local ratings. Ratings as of now stands at Fitch Ratings International (‘B+’ Rating); Standard & Poor’s (‘B+/B” Rating) and Fitch Lanka 'AA-(lka)'.

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Sri Lanka may reduce electricity tariff

Sri Lanka may reduce electricity tariff 

Sri Lanka Power Flow

Sri Lanka's privately owned The Daily Mirror newspaper quoted power ministry secretary M M C Ferdinando as saying there “would be a possibility of bringing down electricity prices for the low income category.” 
The Lankadeepa newspaper said there was speculation of a 20 percent reduction in the increase for users below 150 units.
The report said President Mahinda Rajapaksa was unhappy at the increase amid rising opposition.The Opposition parties have held protest rallies throughout the country against the price hike.
Besides, some government ministers viz. D.E.W. Gunasekara, Vasudeva Nanayakkara and Wimal Weerawansa had spoken against it. 

Power and Energy Ministry Secretary M.M.C. Ferdinando told yesterday that President Mahinda Rajapaksa had expressed his displeasure over the new pricing formula at a recent meeting. Asked whether there would be a reduction, he said, “There may be a possibility.” However he did not say when it would happen. The Cabinet of Ministers is also to discuss this matter further at the meeting scheduled for Thursday. 

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Sri Lanka's first Safari Park at Hambantota

Sri Lanka's first Safari Park at Hambantota

The booming to the tourism industry

Constructions of Sri Lanka's first Safari Park at Ridiyagama in Hambantota in the deep south will be opened to the public in October this year(2013), the government announced.

The construction work at the first Safari Park in the island started in 2008 under the direction of The National Zoological Department. 

Four of the park's six zones will be reserved for carnivorous animals while the remaining two zones will be set apart for the herbivores. Two zones of the carnivore section will be exclusively reserved for the dangerous animals such as lions, tigers, and leopards.

Work on several sectors has already been completed, the government media said.

The Safari Park constructed at an estimated cost of 1.6 billion rupees is seen as an avenue to attract more tourists to the island and a boom to the tourism industry.

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Sri Lanka official government news website hacked

Sri Lanka official government news website hacked

KURDISH ELITE SECURITY TEAM (KEST)

Sri Lanka official government news website www.news.lk was hacked by a group identifying itself as Sultan Brain.The Director General of the Information Department Dr. Ariyaratne Athugala said that the website was not hacked but the internet firewall had been compromised and the maintenance of the site was underway.

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Japanese Deputy Prime Minister Taro Aso to visit Sri Lanka

Japanese Deputy Prime Minister Taro Aso to visit Sri Lanka

Sri Lanka and Japan bilateral relationship

The Deputy Prime Minister of Japan, Taro Aso and Parliamentary Senior Vice Minister of Finance, Honourable Yuko Obuchi will visit Sri Lanka from 1st to 2nd May 2013,the Japanese embassy in Colombo announced.

During their visit Aso, and Ms. Obuchi will call on the Sri Lankan President to discuss bilateral relations with a view to further strengthening the long-standing ties between the two countries and will also visit the Port of Colombo and Colombo Dockyard.

The Government of Japan provided more than 80 billion Yen (approx. 800 million USD) for upgrading and expansion of the Colombo Port. Colombo Dockyard this year marks its 20th anniversary of partnership with Onomichi Dockyard Co. Ltd. of Japan. 

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Chris Gayle Scores fastest century in cricket history during IPL game

Chris Gayle Scores fastest century
in cricket history during IPL game

Fastest T20 Century

Explosive opener Chris Gayle slammed the fastest century in cricket history, reaching the triple figure in just 30 balls during the Royal Challengers Bangalore-Pune Warriors in the Indian Premier League 2013.
The century that included seven dot balls, four singles, eight fours and 11 sixes for the home side at the Chinnaswamy Stadium, Bangalore.

The 30-ball ton beats the previous 34-ball Twenty20 record set by Australia’s Andrew Symonds. The record in 50-over cricket is Shahid Afridi’s 37-ball ton for Pakistan against Sri Lanka in 1996. The Test record belongs to Gayle’s fellow West Indian viv Richards, who flayed England for a 56-ball 100 in Antigua in 1986. 

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Northern Provincial Council elections in September 2013

Northern Provincial Council elections in September 2013

first time the provincial council elections in NPC

Sri Lankan President Mahinda Rajapaksa said that the election for the Northern Provincial Council would be held in September this year 2013.

After establishing provincial councils in 1987,It would be the first time the provincial council elections to be held in the Northern Province since the provincial councils came into existence under the 13th amendment to the Constitution brought on by the Indo Lanka Agreement in 1987.

News source said that Former media spokesman of the Tamil Tigers, Velayutham Dayanidhi alias ‘Daya Master’ is likely to contest the upcoming elections for the Northern Provincial Council.

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Sri Lanka Cricket elects officials, President and Secretary

Sri Lanka Cricket elects officials President and Secretary

SLC New President and Secretary

Sri Lanka Cricket (SLC) elected officials to the board in the first secret ballot held yesterday amid heavy security and under the supervision of the Elections Department officials at the board's request.

Jayantha Dharmadasa and Nishantha Ranatunga has been respectively appointed as the President and the Secretary of the Sri Lanka Cricket, during the AGM.

Both has been appointed without a contest during the elections held at the BMICH.

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BBS To Launch ‘Counterattack’ Programme

BBS To Launch Counterattack Programme

Bodu Bala Sena

“The anthem of the Bodu Bala Sena carries an incendiary message that seeks to depict sections of this country’s people as outsiders and destroyers. Its purpose is to incite distrust and hostility between ethnic and religious groups, promoting national disharmony in the country,” the statement said.

Over 60 people, including university lecturers, teachers and journalists had signed the petition.one of the signatories confirmed that a copy had been sent to the telecommunication provider as well. In response Executive Committee member of the Bodu Bala Sena, Dilantha Withanage said that while the organization supported academics the subscribers of a telephone company had every right to ask for a ring tone unless there were ethical issues involved or the artist was banned.

Meanwhile, a separate Facebook group planned a candlelight vigil ‘to safeguard the Dhamma’ around the Bodu Bala Sena headquarters at Sambuddatva Jayanthi Mawatha on Friday (12). Attendants of the vigil planned to chant softly on ‘right thinking’ outside the building.

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Annual horse racing event in Nuwara Eliya

Annual horse racing event in Nuwara Eliya

The spring festival

Sri Lanka Turf Club (SLTC) says that the annual Horse Racing Festival of Sri Lanka's hill country tourist city, Nuwara Eliya, will be held from 15 April to 20 April 2013.

Sri Lankan horses as well as Indian horses will participate in the annual Horse races 2013.

The spring festival held annually in April in the picturesque city is a major tourist attraction in Sri Lanka.

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Move to shift National Lotteries Board to Hambantota

Move to shift National Lotteries Board to Hambantota

National Lotteries Board (NLB)

The parliamentary Committee on Public Enterprises (COPE) has identified a move to shift the National Lotteries Board (NLB) to Hambantota from its present location in Colombo, Parliament was informed. NLB officials had confirmed this to the COPE at a meeting held recently. 

“How can they commute the long distance between Hambantota and Colombo,”UNP MPs Dayasiri Jayasekara asked at the meeting.Ravi Karunanayake, Eran Wickramaratne and JVP MP Sunil Handunnetti were present at the meeting.
The government has planned to covert Hambantota into a major industrial hub.
Deputy Finance Minister Sarath Amunugama did not deny or confirm any move to shift the NLB. He said the NLB had 284 permanent employees with 33 employed on a contract basis.

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Ban Indian Tamil movies films in Sri Lanka

Ban Indian Tamil movies films in Sri Lanka

Ravana Balaya Sri Lanka

A Buddhist nationalist group staged a protest here for halting screening of Kollywood movies in Sri Lanka. Members of Ravana Balaya gathered outside the office of the cinema regulator Public Performance Board (PPB) and theatres to press for a ban on Tamil movies coming from South India. 
Ravana Balaya says that the decision has been taken to protest the influence of Tamil Nadu over the island's integrity.

"We want to see the end of Tamil Nadu movies into our country. Rajinikanth, Kamal Haasan and Sarath Kumar movies must never be shown here again", Ven Saddhatissa of the Ravana Balaya said. 

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Rohana Seneviratne wins Saraswati Sanskrit Prize 2012

Rohana Seneviratne wins Saraswati Sanskrit Prize 2012

Saraswati Sanskrit Prize 2012

Mr. Rohana Seneviratne, lecturer in Sanskrit at the Department of Classical Languages of the University of Peradeniya and currently a doctoral student in Sanskrit at the University of Oxford, UK won the prestigious Saraswati Sanskrit Prize 2012.

Saraswati Sanskrit Prize 2012

The Saraswati Sanskrit Prize is a biannual award instituted in 2008 by the Indian Council for Cultural Relations (ICCR) in India together with the Department of Cultural and Religious History of South Asia (Classical Indology), University of Heidelberg in Germany to recognize the contribution of students in Europe in promoting the understanding of Sanskrit and to foster deeper appreciation of the Indian heritage. At the official award ceremony held in New Delhi on 25th March 2013, Mr. Seneviratne received his prize from Dr. Karan Singh, president of the ICCR and titular Maharaja of Jammu and Kashmir. The prize also included a 10 day visit to India with all hospitality from the ICCR.

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Sri Lanka banned the use of 3 verities of agro chemicals

Sri Lanka banned the use of 3 verities of agro chemicals

kidney patients have found traces of arsenic

Minister of Agriculture Mahinda Yapa Abeywardhana states that the government has banned the use of 3 verities of agro chemicals.That test carried out on the blood samples of kidney patients have found traces of arsenic,Minister Mahinda Yapa Abeywardena said.

Minister Abeywardhana also noted that this decision had been ancillary influenced by the prevalent kidney disease currently spreading in the Rajarata area. 

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Sri Lanka qualifies for the Asian 5 Nation Rugby Tournament

Sri Lanka qualifies for the Asian 5 Nation Rugby Tournament

Asian 5 Nations Rugby

The Sri Lankan Rugby Team qualified to the top 5 teams of the Asian 5 Nation Rugby Pool.Sri Lanka handed Kazakhstan a heavy defeat on their way to clinch the Asian Five Nations rugby championship at Havelock sports ground in Colombo.Sri Lanka won the match 49 points to 18.

Sri Lanka scored from six tries, five conversions and three penalties as fullback Reeza Mubarak enjoyed a brilliant day to win the player of the series award. Kazakhstan who laboured for points scored from two tries, a conversion and two penalties. For Sri Lanka winger Sandun Herath, lock Shenal Dias, centre Pradeep Liyanage, prop Sathya Ranatunga, fly half Fazil Marija and winger Chamara Dabare scored a try each while Mubarak scored 19 points from his boot by putting over five conversions and three penalties. For Kazakhstan fly half Daulet Akymbekov and centre Alexander Zolotukhin scored a try each while fullback Maxim Lifontov put over two penalties and a try.

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Indian parliamentary delegation to visit Sri Lanka

Indian parliamentary delegation to visit Sri Lanka

The delegation to arrive in the Island on Monday

A delegation of six Indian parliamentarians will visit Sri Lanka between April 8 and April 12. They will also visit Colombo and Jaffna during the trip, which is being organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

The members are likely to meet senior Ministers and political leaders. “The MPs will also visit Jaffna to look at work on projects supported by the Indian government, particularly the owner-driven housing initiative,” said the High Commission.
Meanwhile, trade relations seem poised for improvement, with India recently facilitating greater import of garments from Sri Lanka. In August 2012, Sri Lanka requested that the condition on sourcing of fabric be removed to enable an increase in export of duty-free apparel. Now, a total of 8 million pieces of garments can be exported to India duty-free — under the terms of the bilateral Free Trade Agreement — as against the earlier quota of 5 million.

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Sri Lanka thrash Thailand 45-07

Sri Lanka thrash Thailand 45-07

Asian 5 Nations Rugby

Sri Lanka defeated Thailand 45-07 in the Asian 5 Nations Division 1 rugby tournament held at the Havelock Park Grounds, Colombo and secured vital bonus points.Sri Lanka’s 45 points include 6 tries, 3 Conversions and 3 Penalties while Thailand managed only one Try and a Conversion. 

Sandun Herath and Pradeep Liyanage scored two tries each for Sri Lanka. Chamara Dabare and Gayan Weerakoon too added to the Lankan total scoring a try each.

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People’s Insurance Limited launches new website, paving the way for the future

The website being launched

People’s Insurance Limited new website

People’s Insurance Limited, a fully-owned subsidiary of People’s Leasing & Finance PLC, launched an exclusive website dedicated to its customers. The People’s Insurance Website will offer prospective and existing customers comprehensive information about every aspect of the company and its products and services. Easy to navigate, the user-friendly People’s Insurance website showcases the company’s unique insurance products and guides customers on how to identify the product that best suits their needs. The attractively designed website is also accessible on all desktop and mobile devices.

Speaking at the event, Mr. Amaratunga, Chairman of
People’s Insurance Limited

Speaking at the event, Mr. Amaratunga, Chairman of People’s Insurance Limited, commented: “People’s Insurance Limited has been envisaged as an insurance company that will fulfill the rapidly evolving insurance needs of the people and provide them with secure solutions for a lifetime. We have been in operation for the last 3 years and we hope that the milestones we have achieved in that short time showcases our commitment to the people of the country. The launch of our new website marks another step that demonstrates our commitment to building long-term relationships with our customers. Online insurance transactions are becoming the norm and People’s Insurance’s technologically advanced website guides customers to the right solutions, making for a pleasant interaction. We believe that we stand at the threshold of a bright future and that it is time to accelerate our operations to reach out to a wider network whilst being focused on customer responsiveness, professionalism, transparency and accountability. With the solid foundation and support provided by our parent company, People’s Leasing & Finance PLC and ultimate parent, People’s Bank and our continued investment in human capital and advanced technology, we are confident that we are geared to move to the next level.” 

Having commenced commercial operations in January 2010 as a non-life (general) insurance provider, People’s Insurance has pioneered some unique features in its technically advanced website to enhance customer convenience. The website offers a ‘Call me Back’, whereby customers can send in their queries online to the company without having to visit a branch location. The professional team at People’s Insurance will then follow up on inquires and make necessary updates from the manager tool. This feature will help to boost sales on account of its speed and efficiency, coupled with cost savings to customers. A detailed FAQ section has also been incorporated in the website to educate users on the benefits of insurance and industry specific terms, so that People’s Insurance customers can make an informed decision. 

People’s Insurance has a wide range of products to suit both individual and corporate clients under lifestyle products and business products. Lifestyle products cater to needs of individuals and insurance covers include dwelling fire, home insurance, personal accident and motor vehicle insurance. Business products cater to requirements of corporate clients and insurance covers which include commercial fire, business interruption (consequential loss), plate glass, burglary, fidelity guarantee, machinery/electronic equipment, contractor’s all risks, workmen’s compensation, public liability, motor vehicle, marine (cargo) and goods in transit insurance. 

Established with a vision ‘to be appreciated for building lasting trust based on strength, stability and sustainability’, People’s Insurance operations are backed by international reinsurers with standards approved by the Insurance Board of Sri Lanka (IBSL). Within one year of commencing operations, the company recorded Gross Written Premium (GWP) of Rs. 933 million while GWP exceeded Rs. 1 billion in June 2011. Furthermore, People’s Insurance was the first insurer to achieve Rs. 1 billion within a mere 18 months of operations, posting a Rs. 2.4 billion GWP and generating a profit after tax of Rs. 72 million for the year ended 31st December 2011.

The company recorded an outstanding financial performance in 2012 with an increase in Gross written premium (GWP) of 22% from Rs. 2,415 million to Rs. 2,944 million, which is above the growth rate of the non-life insurance industry estimated at 20%. This growth enabled the company to position itself in the fifth position in the non-life insurance industry in terms of the market share. Further, it recorded an impressive underwriting profit of Rs. 42 million. Meanwhile, Profit after tax increased significantly by Rs. 163 million (226%) from Rs. 72 million to Rs. 235 million reflecting outstanding underwriting results and investment performance. 

These excellent financial results reflect the company’s strong fundamentals and cutting edge strategy to propel itself at the forefront of the insurance industry. The company stands on the solid foundation and support provided by the Group, particularly, People’s Leasing & Finance PLC and People’s Bank, which stands as an epitome of stability, trust and integrity in the domain of finance in Sri Lanka. 

People’s Insurance released its first annual report for 2012 together with its first financial statements which were prepared in accordance with the revised Sri Lanka Accounting Standards (SLFRS/LKAS). The company has focused on setting high benchmarks in all aspects its operations, successfully concluding the implementation of a customised enterprise resource planning (ERP) system, which has automated and integrated its key business processes - underwriting, claims and general ledger across the company, including the regional offices and window offices.

With an aim to serve the country better People’s Insurance recently opened regional offices in both Galle and Negombo and entered into a Bancassurance agreement with People’s Bank that will support the company and help distribute People’s Insurance products and services through the Bank’s branch network, currently ensuring that customers are offered insurance services from over 700 branches island wide. The company has also developed and inaugurated its state of the art call centre equipped with the latest technology. People’s Insurance is truly poised to meet the rapidly evolving demands of its customers.

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Coca-Cola wins two prestigious SLIM Nielsen People’s Choice Awards

Coca-Cola wins two prestigious SLIM Nielsen
 People’s Choice Awards

"Youth Beverage Brand of the Year"

Coca-Cola Sri Lanka recently won two prestigious SLIM Nielsen People’s Choice Awards 2013. The Company won the “Youth Beverage Brand of the Year for the sixth consecutive year and for the first time won the ‘People’s Advertisement of the Year’ for its Minute Maid Mixed Fruit Campaign.

"Youth Beverage Brand of the Year"

The People's Advertisement of the Year was won for the Minute Maid Mixed Fruit TV commercial titled Fruit Kottu which was produced by Leo Burnett Solutions Inc. In 2012, Coca-Cola Sri Lanka launched Minute Maid 'Mixed Fruit' packed with the goodness of Mango, Banana, Papaya and Guava, in 200 ml glass bottles across the island country. The TV campaign, a locally shot 45s commercial, is built around a humorous story, brought to life by the loveable and famous Sri Lankan comedian, Giriraj. Minute Maid currently offers Orange, Mango and Apple flavors in Sri-Lanka and is expanding its presence in the country through the fourth variant- Minute Maid Mixed Fruit flavored juice drink.

The SLIM-Nielsen Youth Beverage Brand award is a genuine recognition of consumer’s approval. This recognition gives us all immense pleasure since the results reflect consumers' choice of their most loved brands in Sri Lanka. This is the first year we have won the People's Advertisement of the year and we are very happy that consumers across Sri Lanka have appreciated and voted for our brands. We have won the Youth Beverage Brand Award for the sixth consecutive year and that just validates the connect that Coca-Cola has with the youth. ” said Abhishek Jugran, Country Manager, Sri Lanka and Maldives, Coca-Cola Far East Ltd.

Brand Coca-Cola has constantly tried to connect with the youth of the country. Through campaigns like the Coca-Cola and meals campaign and Coca-Cola Shake up Your Senses Campaign, activations like Coca-Cola's Happiness Truck and the Christmas Caravan, it has stayed relevant to its consumers. The Company has also partnered with the Aravinda de Silva foundation to conduct the Coca-Cola Cricket Pathway camps that connect with the youth at the grassroots level. Through these interventions, Coca- Cola was able to amplify its connect with the youth of the country and won the "Youth Beverage Brand of the Year" for the sixth consecutive year.

About Coca-Cola Sri Lanka

Coca-Cola in Sri Lanka refreshes thousands of consumers throughout the country with an exciting range of beverages including Coca-Cola, Coca-Cola Light, Sprite, Fanta Orange, Fanta Portello, Fanta Cream Soda, Lion Soda, Lion Tonic Water, Lion Gingerale, Lion Ginger Beer, Schweppes Tonic Water, Minute Maid Orange, Minute Maid Mango and Minute Maid Apple. The Coca-Cola system in Sri Lanka employs more than 400 people. Coca-Cola undertakes a number of community development and sustainability projects like the Coca-Cola Cricket Pathways to promote healthy active living, and identify grassroots cricketing talent. It also undertakes sanitation and clean drinking water projects in partnership with organizations like UNDP, and a PET Collection and recycling project with Central Environmental Authority (CEA) and Kalhari Enterprises.

About SLIM Nielsen

Launched in Sri Lanka in 2006, the SLIM- Nielsen People's Awards are conducted annually to recognize the brands and personalities that have left a lasting impact on the people of Sri Lanka. The awards are significant because they allow people to name their favorite brands. The difference in the Peoples Awards is that no person or company can apply for recognition, and instead the winners are those nominated by consumers themselves, thus reflecting actual views of people based on what is close to their hearts and minds. The survey for the SLIM- Nielsen People's Awards 2013 spanned a period of five months: commencing in September 2012 and ending in January 2013, with a total of 2,700 individuals having been interviewed throughout the island

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Ten cricketers willing to play in IPL

Ten cricketers willing to play in IPL

IPL 2013

Ten Sri Lankan cricketers have confirmed their participation in the sixth edition of the Indian Premier League which begins on April 3-2013.SLC CEO  Ashley De Silva who is the Acting Chief Executive Officer of Sri Lanka Cricket said that three more players are yet to submit their written declarations.
Accordingly, Nuwan Kulasekara, Akila Dananjaya and Dinesh Chandimal is yet to confirm their participation for IPL.Cricket Board sources said that all players had been advised against travelling to Chennai.

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