Items filtered by date: November 2016

Maxtherm Lanka (Pvt) Ltd, an industry pioneer in accelerating thermal energy performance, recently clinched the prestigious Gold Flame award at the Sri Lanka National Energy Efficiency Awards 2016 for its contribution to reduce energy use through energy management efforts.

Organized by the Sri Lanka Sustainable Energy Authority (SLSEA) of the Ministry of Power & Renewable Energy, the annual awards ceremony was held on the 24th of November at BMICH under the patronage of President Maithripala Sirisena.

Eng. Gaya Siriwardhana, Director Technical- Maxtherm Lanka (Pvt) Ltd who is a well experienced veteran in the industry, stated ‘We are delighted to have been recognized by the industry for our vast and continuous contribution towards energy saving across the country. We are ambitious to enter large scale projects in the near future and become a major player in the market.’

The company is no stranger to the awards having won the Bronze Flame in 2014 and 2015, and this year around made history with a Gold Flame. Equipped with specialized degrees from both at home and abroad, Eng. Siriwardhana is the brains behind the success of Maxtherm Lanka. He is a Member of the Institute of Engineers of Sri Lanka (IESL), Sri Lanka Bio Energy Association and is also an accredited consultant to the SLSEA)

The company saved a total LKR464m in foreign currency within the country last year by replacing over 5.4m liters of fuel oil and 0.23m liters of diesel by biomass. It helped save 217,000 units of electrical energy and reduced 14,700 tons of CO2 equivalent emission during the same year.

It further created many direct and indirect job opportunities across the country, conducted awareness and training programmes on energy management, implemented employee and company development policies, owned energy measuring equipments, and conducted various research and development activities at workshops and manufacturing facilities in Sri Lanka and India.

Its major customers include prestigious local corporations such as MAS Holdings, CIC Holdings, DSI, Ocean Lanka, Richard Pieris, Hidaramani Group, Asia Pacific Brewery Lanka amongst many others.

Maxtherm Lanka (Pvt) Ltd specializes in supply and installation of biomass fired steam boilers in Sri Lanka with the objective of accelerating thermal energy performance in the industry, also offering a wide variety of services in both energy and environment engineering. The company is the official agent of Maxtherm India, a leader in biomass generated steam involved in selling, supplying and installing steam boilers, thermic fluid heaters, hot water generators, air pollution control equipments and heat recovery units. Maxtherm Lanka initiates rigorous R&D in close affinity with their parent company tailor-make solutions to constantly fulfil evolving customer needs. The company also specializes in generating and supplying of steam and implementing co-generation plants in Sri Lanka.

Published in Achievement

“Eat healthy. Don’t skip breakfast. Sleep well. Get adequate and regular exercise. Drink plenty of water. Everybody knows this simple magic formula for a healthy and robust life. But how many actually follow it?” asks Ms. Christina Wesley, a financial advisor at NDB Wealth, the expert financial planner.

Similarly, everyone knows that saving and investing small amounts of money consistently over a long period of time results in wealth accumulation. Again, how many actually do it? Take a closer look at NDB Wealth's 2017 theme, the “Greatest Wealth is Health”, and you will realize that both your health and your finances both require equal amounts of attention, being virtually two sides of the same coin.

“Let us look at diabetes as an example” says Ms. Wesley. She adds that, according to the most recent World Health Organization (WHO) estimates, about 347 million people worldwide have diabetes with it being predicted to become the 7th leading cause of death in the world by the year 2030. Further, statistics from the Diabetes Association of Sri Lanka (DASL) reveal that there are nearly four million people with diabetes in Sri Lanka. Diabetes prevalence amongst people aged 20 years and above, in urban populations, was 16 per cent, while a similarly aged group in rural areas was at eight per cent. Being overweight and a lack of exercise were the main causes of diabetes amongst children, while family history of diabetes, bad eating habits and obesity were the main indicators for diabetes amongst adults.

“Sedentary and stressful lifestyles slowly and stealthily eat away at our inherent natural immunity to disease. Unaware of this slow corrosion going on within us, we go on with our routines, doing nothing at all to undo or repair the self-inflicted damage,” comments Ms. Wesley.

A common mantra today is ‘Work Hard and Play Harder’ but there should also be time to stop, think and reflect on how to improve your life. Be aware of the steady wear and tear of your body and the need to replenish it on a continuous basis for a healthier life. With scientific and medical breakthroughs, we have managed to increase life expectancy substantially over just the last few decades. However, have we managed to stay healthier and happier over these longer lifespans? To improve our quality of life, we need to take better care of ourselves and do so over the long term. But this process has to start today, since nothing happens overnight.

“It is no different when it comes to our savings and building a nest egg,” says Ms. Wesley. As with the physical fitness needed to lead a healthy life, a disciplined financial regimen is required to be maintained from today onward to enjoy the latter stages of our lives, without fretting too much about expenses. This is where a “Regular Savings Plan”, offered by NDB Wealth, via a Money Market Fund, or an Income Fund, plays an important role in improving one's long term financial health.

“Small but regular amounts of investments over a sustained period can help build sizeable amounts of wealth for the future. Hence, regardless of our age, gender and profession, we need to focus on both our health and wealth. And we need to get started start right away,” comments Ms. Wesley. Also, she advises always consulting an investment adviser and/or tax consultant prior to making any investment decision.

Published in monetary
Wednesday, 30 November 2016 22:38

Ewis wins best display stall at infotel 2016

Colombo Sri Lanka- Showcasing innovation, technology, products and possibilities, EWIS won top honours with Best Display Stall at the recently concluded INFOTEL 2016 held at the BMICH. The EWIS stall demonstrated the company’s focus on customer service and the ability to keep pace with innovative products, allowed visitors to experience devices hands-on and showed attention and keenness to each and every person who visited the stall during the 3-day exposition.

Mubarak Sadhar, Chief Marketing Officer at EWIS said, “This exhibition was a great success for EWIS and we managed to showcase various products and services to the hundreds of visitors who walked through our stall. We are delighted with the award as it is a recognition of our work and our increased commitment towards the IT industry.”

The EWIS stall was by far one of the biggest at the exhibition displaying the company’s numerous subsidiaries: Laptops, desktops and All-in-One devices from E-W Information Systems Limited, gaming stations, the PC-on-Stick from EWIS Colombo Limited, smartphones and feature phones from the homegrown OCTA brand, Business Form Printing, Cheque Printing, Commercial Printing, Scratch Card Printing, and Continuous computer forms from Toppan Forms Data Printing Services.

EWIS Peripherals displayed a variety of print solutions from Lexmark and Ricoh, Multifunctional Printers and Production Printers from Konica Minolta, Casio Projectors and EWIS Solar panels. One of the newer product services offered by EWIS Peripherals is Click and Print, an instant large or small printing solution that allows customers to upload, click and print with the least amount of hassle.

Toppan Forms (Colombo) offered visitors the chance of a hands-on experience on the latest printing options available in South Asia. In Sri Lanka, TFC has set a benchmark by converting conventional printing to high-tech printing and total print management outsourcing and total solutions provider for printing related services and products such as office stationery, business forms, data security printing, trust copy printing and marketing materials for businesses and companies. Additionally, TFC undertakes printing of government documents and other secure data and is the leader in Data printing, Lottery printing, Cheque Printing and Form/Commercial printing areas.

To add proactive interest to visitor footfall, EWIS ran a social media campaign on its FB page encouraging people to take a selfie at the stall’s selfie booth with a chance of getting a full colour, high resolution printout at the EWIS Click and Print section. In other competitions, winners received the popular homegrown OCTA branded tabs, and smartphones. All of these competitions were conducted smoothly because of the comprehensive internal and data tracking systems provided on the EWIS platforms, namely EXAM Management Software, Marketing Dashboards, ERP Solutions, and Ticker Software.

INFOTEL 2016 was organized by the Federation of Information Technology Industry Sri Lanka (FITIS), and is considered to be South Asia’s Premier and Sri Lanka’s largest ICT exhibition.

Published in Achievement

The Colombo Stock Exchange (CSE) has once again extended its support for the prestigious Annual Report Awards Competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

CSE will power the 52nd Annual Report Awards competition as a Strategic Partner. This is the third year in a row that CSE has extended its support to the annual corporate competition, which has created an important benchmark as an event that promotes transparency, good governance and social responsibility among corporates and other organisations both big and small.

This year’s competition revolves around the theme ‘Precision Exemplified’.

In a history spanning over five decades, the Annual Report Awards Competition has helped organisations in Sri Lanka improve transparency and accountability in financial reporting, while also enhancing Sri Lanka’s reporting standards in line with global best practices.

This year too as in other years, the prestigious awards ceremony will honour the most cohesive, clear and customized annual reports that best reflect an entity’s operations, which has also gone beyond the statutory boundaries of reporting. The competition’s grand finale will be held in December 2016.

Published in Achievement

Colombo, November 24, 2016: Breaking news this month is sending a wave across Sri Lanka and the world – the 2017 budget has been announced, and leading property portal Lamudi claims, it’s great news for real estate! Following the end of the war, Sri Lanka’s property construction industry has been booming. However, strict laws on foreign nationals owning property were holding the real estate sector back. Many of these barriers will now be lifted – a great move for foreign investment in this rapidly growing economy.

Previous foreign ownership laws quelled sales
The real estate sector is a major element in any country’s economic landscape. Property construction has dramatically increased in Sri Lanka over the past 7 years, transforming the skyline of the capital city, Colombo, among other cities. Much of this property is considered high quality luxury property; something for the island’s construction firms to be proud of. However, the presence luxury real estate is only beneficial for the economy if wealthy buyers are investing in it. Until now, Sri Lanka’s government imposed laws upon the property sector, preventing foreign ownership and thus quelling sales. Since construction began to boom following the declaration of peace in 2009, a property surplus has been a serious concern. This surplus could hold back Sri Lanka’s growth as a destination for high net worth buyers, and ultimately buyers in general. Fortunately, Sri Lanka’s government has now recognised this, and steps are being taken to foster property investment both among local buyers and foreign buyers.

FDI encourages economic growth
Earlier in November, Sri Lanka’s Finance Minister Ravi Karunanayake expressed the key importance of encouraging foreign investment in order to boost the country’s financial position. In his speech, Mr Karunanayake stated that the government was to “remove freehold right restrictions”, which were previously imposed. Back in 2014, a ban was placed on the purchase of property by non-Sri Lankan buyers. This move was originally supposed to “curb tax evasion” (Reuters). On the contrary, as expected, it ended up holding the country back with its goal of competing in a global economy. Although there are still steps to be taken before a dramatic impact takes place, the government’s recent move to encourage foreign buyers puts Sri Lanka on the right track.

New prosperity thanks to future international investors
Thanks to its gorgeous landscapes and rich history, Sri Lanka is an internationally renowned tourist destination, but many visitors were left disappointed when they were refused land ownership in their holiday paradise. In the future, it is hoped that new properties will both be purchased and constructed by foreign nationals. As a result, the economy will experience a positive injection of prosperity.

Relaxed rules on bringing cash into Sri Lanka
In addition to the relaxation of the rules about home and land ownership, from 2017, further concessions will also be introduced. Foreigners entering Sri Lanka will be entitled to bring up to $45,000 with them, without needing to declare the source of these funds. This new allowance represents an increase of $30, 000.

As well as the measures outlined above, Mr Karunanayake also emphasised the potential benefits of real estate development trusts for the economy. REITs own and finance income-producing real estate, and their introduction fosters healthy real estate ecosystems. Healthy real estate ecosystems usually contain affordable housing as well as luxury accommodation. As evidenced by the recent speech, Sri Lanka’s government seems to appreciate the importance of a healthy real estate ecosystem. This means that the future for real estate policy looks brighter than ever!

Published in Property & Building
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