Items filtered by date: June 2016

Internationally acclaimed strategy guru, Dr. Sunil Erevelles will be in Colombo next month to take part in the region’s biggest ever Strategy Summit organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

During the two day summit, scheduled to be held on 26th and 27th July 2016, Dr. Erevelles, will walk through business leaders on how their corporates can not only enjoy long term success but can create new paradigms which will help them maintain their growth and long term success.

For years, Dr. Erevelles has mesmerized corporate leaders including CEOs across the world with his ground breaking thought leadership ideologies. He is a Global Consultant and Executive Education Expert for Boeing, Bank of America, Wells Fargo, Lowe’s, and Prudential, among others.

During the summit he will speak on the ‘Future of Strategy.’

The summit is strictly a ‘corporate leaders’ only’ event, and is open for Chairmen, Managing Directors, Directors, Chief Executive Officers, Chief Operations Officers, Chief Financial Officers, and General Managers, working both in Sri Lanka as well as in the Asian Region.

Dr. Erevelles is the Associate Professor of Marketing at the Belk College of Business at the University of North Carolina at Charlotte, USA. Prior to that, he was on the faculty of marketing and the Marketing Area Coordinator at the Anderson School of Management, University of California, Riverside. He received his Ph.D. in business from The Ohio State University. His areas of specialty are Marketing Strategy and Consumer Behavior.

He is much sought after by top management, and has consulted and delivered seminars to CEOs and senior managers, as well as to top government officials, including a president and deputy prime minister, in almost every part of the world, including North America, Latin America, Europe, Australia, Asia and Africa. In the United States, he has delivered seminars and annual company retreats to executives at leading organizations with varied business interests, such as Boeing, Allstate Insurance, the Compass Group, Hyundai Motor Company and Lowes. Seminar topics include “Creating/Designing the Future, The Future of Business, Achieving Competitive Advantage, The Future of Technology, Competitive Advantage in Banking, Strategy and Leadership.

He has won many awards, including national teaching awards. The Ohio State University Alumni Association, the largest alumni association in the world, voted for him to receive the "The William Oxley Thompson Award" for exceptional early career achievement.

Published in Economy & Commerce

Thursday, June30th 2016, Colombo : CIC Holdings partneredwiththe principal supplier of theIndustrial Solutions Division, Ashland Inc to host a seminar on ‘Specialty Additives’ at Taj Samudrahotelrecently. The main objective of thisseminarwas to createawareness on the subjectsamongs senior executives of leadingpaintcompanies in Sri Lanka. The Specialty Ingredients team which comprises of C. Benerjee, Dr. S. Daptardar and A. Pisal of Ashland spoke at the seminarprovidingvaluable insight to all thosepresent.

Some of the topicsthatwasdiscussedin –depthatweremarket trends, new innovations, technicalcapabalities, success story leverage and Ashland’sinnovativeproductofferings. Representativesfromleadingpaintmanufacturerssuch as AkzoNobel paints, Nippon paints, Lankem, Asian Paints, ColorBrite, Royal Paints, Thames Coatings and Jat Holdings werepresent. The seminarwasfollowed by cocktails and dinner.

Published in CSR & Environment

Thursday 29, May 2016, Colombo: Blue Mountain Apartments together with the global real estate titan Palmer and Turner Group prepare to embark a landmark real estate development project, set to make a lasting mark on Colombo’s skyline. The luxury 7-star apartment complex will be the first- of-its- kind in Sri Lanka and will feature all-new levels of luxury and innovation.

The iconic design and structure of the development are being supporting by world - renowned design firm the Palmer & Turner Group, which is based in Singapore and is heralded as the No. 2 ranked residential developer in the world. Palmer & Turner have designed more than 300 residential projects ammasingapproximately 22 million m2 in last 10 years. The complex’s plush interiors are being curated by Index Design, a leading interior design practice also based in Singapore.

Designed to be a beacon of opulence and modern sophistication, this development has been specifically designed for residents who want to indulge in a luxurious lifestyle that reflects their aspirations. The 7-star residence will feature a chic urban design, lavish interiors and spectacular views of the city and the Indian Ocean. The apartments will also feature state-of- the-art technology and 7-Star luxury features that have not been offered to Sri Lankans before. The project located in the heart of Colombo was also recognized at Asia Pacific Property Awards 2016/2017 recently.

Commenting on Blue Mountain’s newest apartment complex, Dr.HiranHettiarachchi Group Chairman of Blue Mountain, stated:“Our latest development will set a new precedent for luxurious living in the heart of Colombo. The complex is located in a prime spot in Bambalapitiya, and gives residents the chance to own a luxury home in Colombo 4, which is ideal location for trade, business, shopping and dining. We are proud to be working in collaboration with our partners the Palmer & Turner Group as well as Index Design, which are both recognized globally for the quality and scale of their work. Together, we hope to build an apartment complex that redefines the concept of ultimate luxury and gives our valued customers the opportunity to enjoy the most exclusive, beautifully designed and well equipped apartments available in the market.”

Blue Mountain Apartments focuses on delivering innovation and modern designs that adhere to the highest standards of construction and safety in the industry. The company has a proven track record and is supported by a highly qualified team who operate from 16 branches across the island. The Blue Mountain Group is renowned as one of the country’s most reliable real estate companies and has diversified operations that extend across the areas of land sales, apartment developments and construction.

Published in Property & Building

Hire 1 named Winner, and Impact Entrepreneurship Award recipient
Quebee Den and Direct2Door adjudged Runner-up and Second Runner-up, respectively


The 2016 edition of Venture Engine drew to a close recently, with a gala awards night at the Kingsbury Hotel. Marking the fifth anniversary of a programme that has become widely known for empowering Sri Lankan entrepreneurs, top honours at the Venture Engine 2016 Finale went to Hire 1, while Quebee Den and Direct2Door, respectively, were adjudged runner-up and second runner-up overall. Hire 1 was also named the recipient of the inaugural Impact Entrepreneurship Award.

Commenting on this year's highly successful Venture Engine, and its empowerment of five years of Sri Lankan entrepreneurship, Rajan Anandan, Co-Founder of Blue Ocean Ventures said, “My congratulations to Venture Engine's top three for capturing the limelight as the top fundable companies in 2016. Now, with all eyes on them, I have no doubt that their victory at this high-profile event will lead to even more visibility and opportunities for funding in the future.”

Venture Engine 2016 saw over 200 entries encompassing a wide range of industries, including ICT, Tourism, Ecommerce, Food and Beverages, Logistics, Tourism, Retail and Education, amongst other sectors. This year's finalists included processed and canned palmyrah toddy maker Gala, 3D printer M3DLAB, budget stays network Vista Rooms, the YouTube for multilingual content KitVita, men's innerwear brand Cavani, logistics firm Hire 1, SaaS for SMEs service BuzzFlow, WiFi platform Wifyer, healthy and safe baby products brand Quebee Den, and grocery delivery venture Direct2Door.

“The successful conclusion of this year's Venture Engine is particularly special, since it puts us in the enviable position of being ready to host the Asian Business Angel Forum in Sri Lanka in 2017, during which our beautiful island will welcome a large delegation of potential angel investors, many of whom will be visiting us for the first time, and from locales as far away as China, Australia and the USA,” said Prajeeth Balasubramaniam, Co-Founder of Blue Ocean Ventures.

Importantly, the Venture Engine 2016 Finale was attended by representatives of top international, regional and local Angel funds including 500 Startups, as well as Venture Capital (VC) firms such as Lightbox Ventures, Sistema Ventures Asia, Prime Ventures, Ambit Finvest and TMT APAC, Citi Corporate and Investment Banking, and even leading regional high net worth investors.

The next step for the top three winners, as well as even other business plans that participated in the Venture Engine 2016 programme, will be to meet and discuss partnerships with potential investors. A great benefit of this programme, and its various partnerships, is the opportunities afforded to every participant regardless of their ultimate ranking. Throughout the competition, during pitches, workshops and presentations, participants have continual access to potential investment from the Lankan and Indian Angel Networks, as well as VCs, who often choose to invest in a number of companies beyond those only making it to the Finale.

Conceptualised by Blue Ocean Ventures, in collaboration with the Indian Angel Network, Venture Engine is run by strategic partner Lankan Angel Network, and backed by platinum sponsors Expolanka Holdings, Orion City, Dialog and Aavishkaar, supported by KfW, a German-government owned development bank.

To date, over 20 companies have achieved remarkable levels of success as a result of Venture Engine, with key local innovators, including, Trekurious, OMAK Technologies, Ridgecrest (, Saraii (eco-village), Simplex, Extrogene, Nithya, Katha, Wild Trails (eco-adventure), House of Lonali, Glitteray, Threadsol (IntelloCut), Lanka BPO Academy, MyWish (weddings), Push Skateboards, Healthy Living, Zacki Herbal Products,, Endemic and 24-7 Techies, having been mentored and funded, to the tune of US$ 7 million, over the last four years.

With a focus on real world results, Venture Engine has, since 2012, provided Sri Lankan entrepreneurs with every opportunity needed to fast track business success, specifically by developing stronger business plans, aided by mentoring sessions, in addition to educational workshops on Accounting, Governance, Marketing, Legal, Recruitment, etc. that feature some of the region’s top entrepreneurs and business leaders. Currently, the programme has provided 'smart money' worth US$ 7 million to more than 20 start-ups with, with this year's Venture Engine being held for its fifth highly successful year.



Published in Achievement

A new level of convenience and sophistication has been introduced to keeping track of containerised cargo by Colombo International Container Terminals (CICT) with the launch of a mobile app for the purpose.

A first for Sri Lanka’s port industry, CICT’s ‘eZPort’ app for smartphone users can be downloaded free from the App Store or Android Play store, and enables users to access key information pertaining to the despatch and arrival of containers from and to the CICT-managed South Terminal of the Port of Colombo.

In its first phase, the new app provides information such as Vessel Schedulewhich includes detailed information such asvessel name and voyage, Estimated Time of Arrival (ETA), Estimated Time of Berth (ETB) and Estimated Time of Completion (ETC); Full Container Load (FCL) opening time;details of nominated container;status and position of the truck; demurrage and storage charges due and Equipment Interchange Receipt (EIR) details.

“Access to all of this information via a smartphone is a significant advancement in convenience over the existing on-line access,” CICT CEO Ray Ren said. “But this too is the just the first phase of the app. We hope to offer much more as the app is developed further.”

He said the envisaged evolution of CICT eZPort would encompass Mobile Booking in phase II, Mobile Payments in phase III and personalised customer services in phase IV.

“With the rapid increase in the use of smartphones, the CICT mobile app will increase in versatility and value. CICT will continue to add new services of eZportas a value addition for our customers as part of our commitment to be the best service provider in the Colombo Port,” Mr Ren said.

He added thateZPort is also intended to provide Business Intelligence and paperless solutions to CICT customers in addition to efficient information access and real-time terminal services.

CICT eZPort is the second IT-facilitated customer service introduced by the company in the past two months. In May, CICT became the first terminal operator in the Port of Colombo to implement ‘e- Boat Notes’ in collaboration with Sri Lanka Customs, breaking new ground in efforts to reduce paper in export documentation.

CICT, which commenced full operations in April 2014, manages the Colombo South terminal of the Port of Colombo, the first and currently the only deep water terminal in South Asia equipped with facilities to handle the largest vessels afloat. The company ended FY 2015 with an impressive 1.561 million TEUs, with the ULCC (Ultra Large Container Carrier) and VLCC (Very Large Container Carrier) segments making a 67% contribution to that volume. A member of CMHI, the world’s second largest global terminal operator by throughput, CICT has access to a network of 72 terminals operated and invested in by CMHI across the globe, none of which are in any form of competition with the Port of Colombo.

Published in Economy & Commerce
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