ABC Group introduces Islamic financial services
The Sri Lanka Market is gathering momentum in its movement towards the
‘Islamic Concept’ of investments and financing. Under the new Banking Act, all
Commercial Banks and designated banks are permitted to have ‘Windows’ for
operation under the Islamic Concept.
The trend shifting towards ‘Profit Sharing’ instead of ‘Interest’ bearing
concept, opens out new dimension in trade and finance. This has encouraged
investment companies to open out operations operating under the Islamic Shareeah
without being restricted to only ‘Window Type’ operations.
ABC Group of Companies, a truly Sri Lankan Company founded in 1982 opened out
another new dimension with the birth of ABC Investments Ltd. ABC Investments
serves the people purely on a “Profit Sharing Basis” under the Islamic Shareeah
Concept under the theme ‘BARAKAR ISLAMIC FINANCIAL SERVICES’.
ABC Group Chairman Mr. Shiran Dissanayake an innovative Business magnet had
another of his vision materialized when the Board of Directors together with
some leading Muslims extended their support to establish this new Independent
Company different from those of the other Companies within the ABC Group under
the noble “Profit Sharing” concept regulated by rules and guidelines of the
The launching of the Company took place on July 18, 2007 at Galaderi Hotel
amidst a large cross section of people and Scholars in the Islamic Financial
field both within Sri Lanka and outside graced the occasion. The keynote address
was delivered by Hon. Minister Mr. Rauf Hakeem, Minister - Post &
Telecommunication. Acting Governor of the Central Bank of Sudan and Secretary
General of Al Zubair Charity Fund of Sudan were among the participants.
A tri-party MOD was signed at the launch between ABC Investments, Central Bank
of Sudan and AI Zubair Charity Foundation of Sudan. Sudan was one of the first
countries to start Islamic Banking. Several benefits to Sri Lanka through ABC
Investments in the Financing field were included in the MOD, among which were
Technical Support, Shareeah documentations, training of Staff, Manuals and
Banking documentations in-addition to funding arrangements for projects both in
Sri Lanka and Sudan.
Singer appoints Malinga as Brand Ambassador for Samsung
By Quintus Perera
Sri Lanka has produced world-class cricketers in Muttiah Muralitheran and
Chaminda Vaz and now, another exceptional world-class fast bowler in Lasith
Malinga has emerged.
Singer Sri Lanka, has also emerged world-class in their marketing and
distribution network and recently, another world-class brand Samsung has
entrusted its distribution in Sri Lanka, to Singer.
At a function held at Singer Sri Lanka, Colombo Head Office, Singer entrusted
Lasith Malinga as Brand Ambassador for Samsung brand when an MoU was signed by
Lasith Malinga and Chairman, Singer Sri Lanka, Hemaka Amarasuriya. Singer also
renewed the Brand Ambassadorship of Bhathia and Santhush, the popular singing
Announcing the choice of Lasith Malinga as their Brand Ambassador for Samsung in
Sri Lanka, Amarasuriya stated that both Samsung and Malinga are world-class
brands renowned for superior performance and are number one in their category.
He said that the internationally renowned Business Week ranked Samsung as the
number one electronics company among the world’s top 100 companies for the
second consecutive year in 2007. This achievement is a reflection of Samsung’s
constant innovation and research, resulting in the manufacture of
technologically advanced world-class products.
Amarasuriya said that Malinga embodies these values and will make a natural fit
in the minds of the consumer. The iconic fast bowler’s unorthodox bowling action
made him one of the top attractions at the 2007 Cricket World Cup who made a
great impact within a short span. His record-breaking feat of four wickets in a
row made him a superstar in the cricketing world.
As a sport, cricket has the widest appeal and interest islandwide. Singer’s
support has helped new talents emerge from the unknown to gain national and
international recognition. Singer continues to be proud to have sponsored the
World Cup Winning Cricket Team of 1996 and will always be in the forefront of
sports sponsorship in Sri Lanka. This enhances the social bond with the
community and builds equity for the brand. It is a perfect blend of passion for
sports and rewards of business.
Thus, when Samsung had to choose a distributor for Sri Lanka, it, naturally,
turned to Singer, Sri Lanka’s number one retailer, with 350 outlets, 175 Service
Points and over 2,500 Service Personnel, serving more than 3 million customers,
For Samsung, joining hands with Singer becomes a strategic partnership to
enhance its footprint and notch a prominent position within the Sri Lankan
Invest in your future at ICBT Kandy Campus
International College of Business and Technology (ICBT) is one of the fastest
growing private sector educational institutions in Sri Lanka providing quality
higher education of international standards in collaboration with some of the
best Universities and educational service providers in Australia, United
Kingdom, India and Thailand.
ICBT Kandy Campus which was established in July 2006 is the leading higher
educational institute with state -of- art lecture halls, leading edge technology
with computer labs, broad band Internet, audio visual facilities and library
facilities to provide students with a unique learning experience.
ICBT offers a unique opportunity for the students who aspire to get qualified in
the areas of busiess and technology with world wide recognition. The
undergraduate degree programs are comprised of Higher National Diploma (HND) in
Computing, HND in International Business Management and HND in Quantity
Surveying. The courses are designed to achieve a balance between depth of
knowledge acquired through specialization and breadth of knowledge gained
through exploration. Currently ICBT Kandy Campus carries12 undergraduate batches
of different programmes with nearly 200 students.
ICBT Kandy Campus also offers valuable opportunities for life long learning by
introducing the Manipal MBA programme. ICBT is proud to be the one and only
private educational institution in Kandy to offer a MBA to the prospective
students from different fields of studies and experience. It is an integrated
programme designed to provide an advanced course on management for developing
knowledge and skills in fundamental management discipline and career enhancement
specially for those who are currently employed. At present there are 3 batches
of MBA with around 50 students, exposed to an interactive learning through
lectures, discussions, group work, presentations and business research.
ICBT Kandy Campus offers a variety of courses in English ; Diploma in English ,
Practical English and International English Language Testing System (IELTS) for
the individuals aspire to be more confident and effective in using English
language skills. The main objective of English Language Programmes conducted by
ICBT Kandy campus is to immerse the students in a learning environment which
provides each student with the skills and language needed for a smooth
transition into academic study and professional life. Currently there are more
than 400 students who got the benefit from language programmes conducted by ICBT
Kandy Campus. Since language programmes are very popular among the students
campus has made arrangements to expand the Language Unit to meet the new demand.
The faculty of ICBT Kandy campus is comprised of well qualified, experienced and
dedicated panel of lecturers. They ensure the programmes offered by ICBT Kandy
Campus are of excellent quality and fit in to the international standards.
Sri Lankan delegates meet UN Secretary General
SUNFO Director General Dr. Deshapriya S. Wijetunga and Millenium Development
Ambassador Deshamanya Dr. A.S.P. Liyanage as Sri Lanka delegates at the United
Nations headquarters in Geneva Switzerland. Photograph shows the Secretary
General of the United Nations Ban Ki Moon with Dr. Wijetunga and Dr. A.S.P.
Orange Electric’s goes for Silver and Gold
X 7 range of switches and sockets that complement modern interiors
Orange Electric recently introduced a new generation of switches and sockets
that are already making their mark as a much sought after electrical accessory,
among Sri Lankan architects, interior decorators and discerning buyers.
Bringing in the elegance of gold and the charm of silver to the home and
workplace, Orange Electric’s exciting new X7 range of contemporary Ran Ridee
switches with gold and silver surrounds, lend themselves to old world charm as
well as the minimalist cubism of the modern architecture. Today’s interiors
accentuate simplicity and offer an aura of calm and serenity as a backdrop to a
hectic lifestyle. Straight lines, simple uncluttered designs and earth toned
interiors are the sought after look in contemporary homes and offices, to which
the muted shades of pale silver and champagne gold of Orange switches and
sockets are the ideal complement.
Charm and elegance have long been the hallmarks of great civilizations
throughout the ages. From the breath taking artifacts of the Indus,
Mesopotamian, Greek and Roman periods to the accessories of the more recent
French and Elizabethan periods, man has sought beauty to adorn his home. This
quest for beauty has today, extended to building accessories as well, as today’s
discerning buyers also seek out beauty in terms of sanitary ware, floors, tiles,
roofing and lighting. Whereas just a few years earlier, switches and sockets
served mainly a functional purpose, the new concept of creating one’s living
space to reflect one’s individualistic personality has seen the advent of
aesthetically designed interiors, and the mundane designs and colours have
become a thing of the past
”It is now a challenge, to make the client happy,” explained Romaine Ferdinands
Marketing Manager Orange Electric, “People who have been overseas are exposed to
designs abroad and so are very specific about what they want. They would even
shop overseas and pay extra for what they perceive as being upmarket
accessories. In turn, we need to be updated to meet these current trends.”
This realisation drove the vision of Orange Electric, and inspired meticulous
research and creative insights that created aesthetically pleasing electrical
accessories to blend with current architectural styles and the use of
contemporary materials of chrome, steel, wood and cement. Orange Electric’s
switches and sockets are also tested among target consumers; tests for
acceptability were carried out successfully in Sri Lanka as well.
Orange Electric’s X 7 range of switches and sockets offer safety and durability
in addition to providing the finer finishes to the home and work place and are
very competitively priced. They are available at all leading hardware stores and
ORANGE Electric is ISO 9001-2000 certified. The Company’s switches and sockets
comply with British standards of quality and are backed by a life time guarantee
that stakes their claim as a “One-Life switch”.
ORANGE electric is a fully owned Sri Lankan company that operates across the
boundaries of 15 countries, having made its mark in a non traditional value
added export that showcases the engineering acumen of our country. More
information on the Orange range of switches and accessories is available at the
Orange Electric Jinaratne office on tel. no 4792100.
State Mortgage Bank extends Housing Loan Clinic
The first ever Housing Loan Clinic organized by the State Mortgage and
Investment Bank was held on July 7, 2007 from 7.00 am to 7.00 pm at it’s Head
Office very satisfactorily. Hundreds of customers attended this credit clinic
and obtained instant solutions for their problems with regard to obtaining new
housing loans and also for repayment issues of their existing loans.
Existence of property Valuers, Legal Officers, credit officers and the recovery
officers in one platform was of immense value to obtain quick solutions to the
customers’ issues and it was very happy to see customers retuning to their homes
with smiles in their faces, a spokesperson for the bank said.
The management of SMIB has decided to continue with their Credit Clinic on first
Saturday of every month because of the extended popular demand of the customers.
Thus the public who are engaged in employment will get the benefit of attending
to their housing loan issues on a holiday without disturbing their day to day
As such the State Mortgage Bank invites public to attend this once a month
housing loan clinic which will be held on first Saturday of every month from
9.00 am to 3.00 p.m. at its head office and obtain the maximum benefits to get
housing dream a reality.
BoC launches ‘Ran Kekulu’a weekly TV talk-show
‘Ran Kekulu’ is an innovative weekly TV talk-show series that addresses
important issues of practical relevance to teenagers who are striving for
success in diverse fields. It also helps their parents and teachers to obtain
insights into typical problems faced by modern-day teenagers. Each episode
provides an animated forum for discussing and debating a key topic that directly
influences the ability of teenagers to achieve their goals, and the guidance
they would require from their elders.
‘Ran Kekulu’ makes teenagers and their elders aware of the multidimensional
aspects of concepts teenagers will have to assimilate in order to overcome the
complex challenges they will face as they grow up. By debating and resolving
conflicting viewpoints of teenagers and their elders in many important areas,
‘Ran Kekulu’ will help teenagers to develop their personalities and succeed in
their personal and working lives.
Each episode of ‘Ran Kekulu’ provides practical insights into a key topic such
as creativity, leadership, education, discipline, health, diet, sports,
assertiveness, etc. The series covers a wide conceptual foundation that ‘will
help teenagers to acquire the attitudes necessary for success, and provides
insights their elders will need to help them achieve their goals. Important
concepts such as emotional intelligence and strategic thinking are embedded in
“A major dimension of our Corporate Social Responsibility (CSR) programme
focuses on the key role children will play as they grow up and contribute to
national development in the challenging decades ahead. This TV talk show series
will give teenagers all over Sri Lanka practical insights into topics that will
directly impact their attitudes and behaviour,” said Mr. B. A. C. Fernando, the
General Manager of Bank of Ceylon, explaining the rationale behind the Bank’s
decision to sponsor this innovative weekly TV series.
“Children are our future leaders. This TV talk-show series will influence not
only teenagers but also their parents, elders and teachers who have a great
responsibility to help them succeed an increasingly volatile and competitive
world,” he added.
‘Ran Kekulu’ uses an informal but animated talk-show format and features an
anchor, together with teenagers who have a direct relevance to the topic under
discussion, some parents, teachers and opinion leaders. ‘Ran Kekulu’ will be
telecast on the ITN channel every Saturday from 4:30 to 5:00 p.m., starting from
July 28, 2007. The first episode will discuss the complex issues involved in
nurturing creativity among teenagers.
The ‘Ran Kekulu’ TV talk-show series is conceived and directed by Dr. Ashoka
Jinadasa, Corporate Communication Officer of Bank of Ceylon. Explaining the
thinking behind this innovative TV talk-show series, he said. “We have chosen
controversial topics that are of great practical relevance to teenagers, where
the conventional wisdom of elders often clash with the attitudes of modern-day
teenagers. We use an unusual studio set and dynamic visual techniques to match
the youthful exuberance and mindset of teenagers”.
UNT Trading launches Enspa range
UTN Trading Company Pvt. Ltd. launched a new range of cosmetics under the
brand name of Enspa recently. Company’s Managing Director said that Enspa is a
range of cosmetics manufactured according to a researched formula to suite the
tropical climatic conditions. Each product is made using natural extracts hence
is “one-of a kind”.
All Enspa products are manufactured in Sri Lanka and the products have
established markets in China, Singapore, Hong-Kong, Japan, and South Africa.
Enspa range consists of Face Wash, Facial Scrub, Fairness creams and Cleansing
He further stated that the company is planning to introduce suitable and quality
cosmetics products to the market place and expect them to become household names
particularly among the educated consumers.
UTN Trading Company is the marketers of Enchanteur range of cosmetics, “Mint”
tissue products, “Leeds” baby care products “easy care” sanitary napkins &
“kodomo” kids toothpaste and all these products are freely available in all the
super markets, pharmacies and other outlets.
Union Assurance Revolutionise the insurance industry
Union Assurance PLC has revolutionized the general and life insurance
industries by launching two new products catering to all segments of the market.
The new products, which offer unparalleled benefits and convenience to customers
compliments Union Assurance expansion strategies and further consolidates their
position as a premier insurer in the country.
Union Motor “Call & Go” is an innovative and flexible motor insurance policy,
which aims to provide an unparalleled level of convenience in the event of an
accident. For the first time in Sri Lanka, customers don’t need to stay at the
accident site until an assessor inspects the vehicle. All they have to do is
call the Union Assurance 24 hour call center on 011-2428444, obtain a reference
number, and proceed on their journey.
Union Assurance has tied up with a number of “elite” garages across the island
to ensure that customers receive a hassle free service. Union “Call & Go”
customers could drive into any one of these garages, and they will take care of
If customers prefer to repair the vehicle at a garage of his/her choice an
assessor will visit the customer at a time and place convenient to them to
assess the damage
The above options are in addition to arranging an assessor to visit the accident
site to provide an on-the-scene assessment.
The company also launched Union Life Advantage to cater to a need in the life
market for an insurance solution offering enhanced returns combined with
guaranteed protection and greater flexibility. It is the only product in the
market to guarantee an annual dividend at the start of each year. For 2007,
policyholders will be entitled to a minimum guaranteed dividend of 12%. This is
in addition to the host of protection benefits tailored to enhance the financial
security of our customers and their dependants.
Union Assurance PLC is powered by the combined strengths of John Keels Holdings
PLC and Carson Cumberbatch.
A blood donation campaign by Atlas Company
Ceylon Pencil Company Ltd. the producers of Atlas brand of school stationery
and office equipment recently held a blood donation campaign as a part of their
corporate social responsibility. The campaign was held at their company premises
at Parakrama Road, Peliyagoda.
The Management and the employees of ‘Atlas’ company together with the residents
of Parakrama Road participated in this campaign. Altogether over
150 people donated their blood at this campaign which according to the company
was a success.
This was the first blood donation campaign organized by Atlas Company and they
intend holding such campaigns every year in the future.