Business Advertorial

Free accident cover for customers

Singer customers are in for a bonanza this month when they buy an item for Rs. 5,000 or more. They will then get a free accident insurance cover worth Rs. 50,000 valid for one year.

This unique offer comes under the Singer Family Care Free Insurance scheme for customers who make purchases from Singer Plus or Singer Mega outlets. Those who pay cash and buy products or make their purchases through Singer Easy Payment Plan (EPP) are eligible to receive this cover.

Explaining the scheme, Singer Marketing Director Asitha Abayasekera said that they are also given the opportunity to increase the cover up to one million rupees if they wish to. “This is a special offer where they only have to pay a little over 3,000 rupees to upgrade the insurance policy,” he said. “It will cover total permanent disability and accidental medical reimbursement.”

While providing a 24-hour worldwide coverage of accidental loss of life, the upgrade will additionally cover permanent total disability and accidental medical reimbursement.

As for the response from customers during the past two weeks, he said that the initial response is most encouraging. The scheme continues till October 31.

This internationally valid accident cover is underwritten by Hayleys AIG affiliated to the global insurance conglomerate American International Group operating in over 130 countries.

The Singer Family Care Free Insurance scheme is yet another initiative from Singer to provide additional benefits to its customers. Loyalty programmes have been launched for customers making purchases at Singer Plus and Singer Mega outlets.

The recently launched Singer Plus Loyalty programme has already attracted nearly 20,000 customers during its first phase. It is being test marketed in the Sabaragamuwa and Western provinces through Singer Plus outlets. Singer Mega has a solid base of loyal customers built up over the past few years.

Meanwhile, Singer continues to be in the limelight gaining recognition by winning coveted awards. For the second successive year, Singer won two People’s Awards for 2007 at the SLIM-Nielson People’s Awards. Singer was voted the Brand of the Year and the Consumer Durable Brand of the Year.

Commercial Bank to produce young millionaires

A millionaire at the age of 18 is one of the possibilities that the Commercial Bank of Ceylon, one of Sri Lanka’s most trusted financial services providers, is offering parents of new born children with the relaunch of the Bank’s popular minors’ savings account - ‘Isuru.’

Revamped to offer higher returns in keeping with the increased expectations of the day, the Isuru scheme is an instrument that pays a guaranteed amount at maturity based on the savings plan selected at the time of opening, irrespective of any interest changes that may take place later.

Isuru offers parents the option of paying just one lump sum at the point of opening the account, or making monthly deposits for a period of between two and five years. The Isuru savings account can be opened at any time till the child is 16 years old, and matures when the child reaches 18.

An account can be opened with a minimum of Rs. 100 per month, making it a truly mass market savings scheme, Ravi Dias, Commercial Bank’s Senior Deputy General Manager - Personal Banking said.

Hameedia launches fourth ‘Dress to Win’ promo

Hameedia laun- ched its popular “Dress to Win” promotion for the fourth consecutive year, with an even greater array of attractive prizes. On offer are ten complete wardrobes of casual, daily and formal wear valued at Rs.100,000/- each, gift vouchers for footwear from Adidas, Blackberry Pearls from Dialog Telekom, Jewellery from Alankara, Cable TV connections from Comet Cable, car care packages from 3M, and subscriptions to the Man’s Mission magazine.

This year’s advertising campaign conceptualises the spirit of the Dress to Win promo : It’s Rs. 2 million up for grabs What’s your Game Plan? Operative from October 01 to December 31 the “Dress to Win” promotion consists of a raffle draw for customers who purchase clothes worth more than Rs. 5000/- at a single time from any Hameedia’s, Adidas or

Raymond showrooms strategically located across Sri Lanka. The lucky winners will be chosen early next year from the thousands of entries islandwide.

RajMarine apartments ready by December 2008

Ruwanthi Abeyakoon

RS. 250 million will be invested in the upcoming luxury condominium ‘Raj Marine’ in Wellawatte, Chairman/Managing Director, P & A Developers A. E. Pararajasingham told Daily News Business.

“This is our fourth project and is approved by the Board of Investment (BOI). It is earmarked to reach out to expatriate

 clients. Nevertheless locals can also purchase apartments.

“‘Raj Court’, ‘Bullers Crescent’ and ‘Campbell Residencies’ are the earlier luxury apartments by the company. “The apartment has three entrances and a larger floor area. It also has a view of the ocean.

“Our aim is to provide quality houses. The 12 residencies have imported fittings,” he added.

The apartments will be completed by December 2008.

“The constructions will generate employment. Thirty people are employed at the site and we hope to expand the number of employees when the other projects commence,” Pararajasingham said.

“The company has purchased a land in Athurugiriya to construct more apartments. The Athurugiriya construction will target the lower middle-income class providing them with semi-detached homes.

“Through our projects we will cater to every level in society,” he added. Pararajasingham pointed out that more entrepreneurs should come forward to reach the market in the suburbs. “At present the industry caters only for a selected segment. Entrepreneurs must reach the suburbs and put up affordable houses,” he said.

“There is a demand for condominiums although sales have gone down slightly. People don’t invest in houses as banks offer high interest rates. There is a temporary setback but that can be tackled,” he added.

A brighter future for NCASL

Chairman of the National Constructors’ Association of Sri Lanka (NCASL) Dr. Rohan Karunaratne has a vision for the NCASL.

He would like to see the image of the constructors built up and thereby enable to association to develop strong links with their international counterparts. The newly-elected Chairman for the year 2007/2008 has developed a Three-Year Plan to broadbase the activities of the association.

Under this, he intends to strengthen the membership and set up a research and development unit to assimilate and disseminate required data for those who have taken up construction as their career.

His Plan also includes the conducting of training programme to develop technical and managerial skills, the establishment of equipment and machinery pools, educating NCASL Members in the latest technology and of equipment and management systems in order that those in the construction-industry could compete with their regional competitors effectively.

NCASL which is a “not for profit apex body” was established with the assistance of the World Bank and the Government of Sri Lanka to promote initiatives, standards and policies with the goal to foster, stimulate and strengthen the advancement of the construction industry. Its role is to achieve sustainable economic development and social uplift of the country.

Initially an organisation of constructors, the association was established in 1957 under the title “Builders Association of Sri Lanka”. This was the first organization that represented the domestic constructors of Sri Lanka and only a handful of constructors were members at the inception.

Today, NCASL has a registered membership of 5,000 constructors where 3,000 members are active participants. These members are clustered into 11 Provincial Branches.

The new Chairman of NCASL Dr. Rohan Karunaratne will also chair the Advanced Construction Training Academy and the NCASL Constructors (Pvt) Ltd which are projects that come under the NCASL.

The Advanced Construction Training Academy runs as a separate legal entity and will commence its training programmes by October, 2007 in the newly constructed seven-storied building at Sri Jayawardenapura.

It will expand its partnerships with appropriate public and private partners to pave way to commence joint programmes without overlapping or duplicating training programmes in order to avoid a waste of resources.

Other features in his “Three Year Plan” is to develop industries in the Small and Medium Sector and to provide quality goods and services to his members at reasonable prices, negotiate with insurers for better schemes to obtain bonds and guarantees.

Singha cement in brand new bags

The Italcementi Group, one of the largest privately owned cement producers in the world; considered to be the 5th largest,

 has come out with a brand new cement bag for its Singha brand of cement.

The Company known locally as International Cement Traders [ICT] markets its own brands of cement, available both in bulk as well as in 50 kilo bags which conform to international and national standards, namely Singha and Italcementi.

Managing Director of ICT, Colin Nelson, commenting on the Company’s decision to go in for a new cement bag said that they had not gone in for new packaging for a considerable period, hence the decision to go in for new packaging in keeping with the Company’s new dynamic image and it’s plans to capture a bigger chunk of the local cement market.

“We have been displaying steady growth and have a current market share of 8 per cent which I feel we can definitely increase, hence we felt that the cost invested in new packaging was justified” said Nelson. He went on to say that the packaging was developed locally, including the designs, subsequent to much research and customer feedback.

The Company was also awarded the ISO 9000 certification recently.