Advertorial

ComBank's CSR Trust :

More undergrad schols presented

The Commercial Bank of Ceylon recently presented 25 more scholarships to needy undergraduates under its program to promote the creation of wealth by supporting the higher education of future generations.

This was the third such presentation of undergraduate scholarships by the country's benchmark private bank. In its first disbursement, the Bank presented 100 scholarships, and announced it would award 25 every year thereafter.

Selected undergraduates are entitled to receive Rs. 2,500 in scholarship money per month for ten academic months of every year that they study at the University, under this program launched by the Bank's Corporate Social Responsibility Trust. The Bank has to date presented 150 scholarships to undergraduates. The 25 undergraduates who received scholarships this year represented five faculties including the Management Faculty of the University of Colombo, Management and Medical faculties of the University of Jaffna and the Medical Faculties of the Universities of Peradeniya and Ruhuna.

Commercial Bank, Deputy Chairman, B.R.L. Fernando said that as the leading private bank in the country and a good corporate citizen, Commercial Bank is committed to assist the education sector and has recognized undergraduates as a special category that is vital to the country's future.

"University students are the base of the knowledge-based economy and it is that recognition that we have brought into focus in our scholarship program". They are expected to serve their country using their knowledge to take it to the next dimension. We are happy to assist them in this process through our scholarships," he said.

Recipients of this year's scholarships were identified with the assistance of the University Grants Commission (UGC).

Being ineligible for Mahapola or any other scholarship program, the number of attempts made at the GCE A/L examination, the number of school-going children in the family, parental income and the distance between the university and the student's home are some of the factors that are taken into consideration. University Grants Commission Chairman Prof. Gamini Samaranayake said that Sri Lanka's Gross Enrollment Ratio for higher education is 21 per-cent and is the highest in the South Asian region.

"This scholarship scheme is of particular importance to undergraduates who do not receive any other assistance," he said, adding that the Commercial Bank is performing a great service by presenting these scholarships annually.

The Commercial Bank also has a reward scheme for deserving younger students.

All holders of Arunalu minors accounts who excel the year five scholarship examination every year are given cash prizes. Since its inception more than 1,200 cash awards totalling Rs 8.73 million have been presented to such students.

The Commercial Bank's CSR Trust was set up to fostering projects focused on education, child welfare, rehabilitation of irrigation systems and community services.

The Trust commenced with a startup capital of Rs 25 million and the Bank contributes up to one percent of its post tax profits every year towards it.

Recent CSR initiatives by the Trust includes building homes for the tsunami affected, assisting Children's Homes, donating equipment and essentials to the Colombo National Hospital, refurbishing the Dental Clinic of Deniyaya Base Hospital, setting up a High Dependency Unit for Ward No. 17 of the Matara General Hospital, repairing the path-way to Sri Pada, upgrading the Udawela Kumara Primary School, building two IT laboratories in Udawela and at the Galle prison and contributing to buy essential items for internally displaced people in the North.

NTB goes to Vavuniya

Nations Trust Bank opened its 38th branch in Vavuniya this week.

The Bank set up operations in Vavuniya as the first step towards the Bank's plans for expansion to the North and the East. The new branch was opened in the presence of the Chief Guest District Secretary/Government Agent of Vavuniya Ms. P.S.M. Charles, Bank officials, invitees and a large gathering of customers.

Nations Trust Bank Plc. DGM Sales and Marketing Priyantha Talwatte said, "The opening of this branch in Vavuniya is an important milestone in our expansion plan, as it marks the Bank's affirmation in taking dynamic banking services and facilities to areas that are emerging.

We are confident that our brand of banking services will be of immense value to the people of Vavuniya and its suburbs. Banking in Vauniya will never be the same again from this day.

This marks our entry to the North and the East with more branch openings planned in the fourth quarter of 2009, thus taking Nations Trust Bank's premium brand of banking to key geographies in Sri Lanka." The new branch offers customers banking services 365 days of the year with extended banking hours, as well as a host of value added products and benefits to its patrons.

English lathe machines for Sri Lanka Navy

Allied Trading and Engineering (Pvt) Ltd, supplied and installed Lathe Machines manufactured by Uniprize Machine Tool Ltd, UK, for the Sri Lanka Navy.

These machines were installed at The Navy's workshops in Galle, Rangala and Punewa. AT and E Ltd has supplied Ajax machines and Morgan Rushworth machines from the UK to the Sri Lanka Navy in the past.

Uniprize was set up in association with Ajax Machine Tool Co. Ltd, to allow the expansion of a range of machine tools to be available which were more competitively priced and the stringent standards demanded by customers were adhered to. These were introduced by Ajax and Uniprize successfully to a wide variety of countries.

Uniprize offers a wide range of conventional machine tools including Centre lathe Milling Machines, Universal and Vertical, Geared head pedestal drilling machines, Hacksaws, Manual and Automatic, Bandsaws, Surface Grinding Machines, Cylindrical Grinding Machines, the Arboga range of Grinding and Finishing Machines, CNC Lathes and Vertical machining Centres.

Uniprize machines are supplied to Rolls-Royce plc, BAE systems (Airbus), British American Tobacco, Petrochemical companies and many other engineering companies worldwide.