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LMD ranks Ceylinco Insurance

Highest Rated Insurance Company for 2009 :

The business magazine Lanka Monthly Digest in its December 2009 edition ranked Ceylinco Insurance in the top slot as the highest ranked insurance company.

Since the inception of LMD rankings, recognized as a benchmark on corporate performance, Ceylinco Insurance has retained its prestigious position as the country's highest ranking insurance company. Ceylinco Insurance also enjoys the top position amongst all companies in Sri Lanka, holding the slot as the company that has risen most number of positions since the inception of the rankings in 93/94.

In addition, Ceylinco Insurance occupies the top position as the company that has risen highest in the categories of" Assets" and "Turnover" whilst it is well placed in the overall fourth and fifth positions in largest increases in Funds and Assets respectively, when compared with 2008.

Recognized as the Sri Lanka version of the Fortune 500, the LMD 50 outlines the Sri Lankan companies with the most dynamic and exceptional performances.

"For us, it is not only the highest recognition in terms of corporate success but also as a measurement of how close we are to the customer" said Ceylinco Insurance Jt. Deputy Chairman Ajith Gunawardena. "Recording outstanding performance during tough economic times has been not only an achievement for the company but also for our customers who credit us with an unmatched level of service. It is an honour we are proud to share with our customers," he said.

"Innovation has been key to success for us - developing and initiating services such as On the Spot Claim Settlement that delivers what it promises and a wide network of branches that takes us closer to the customers, these have been important milestones in our success story. Of course, the driving force behind it all has been our staff - their dedication and commitment has made it all possible," he said.

"Great effort goes in to ensuring that we achieve growth while maintaining a healthy balance between our commitments to policyholders and the community at large," said Jt. Deputy Chairman R. Renganathan. "While these efforts are not undertaken with an eye on rankings such as the LMD 50, it is nevertheless pleasing to be assessed and ranked well ahead of the competition," he said.

The LMD 50 roll of honour is derived on the basis of meaningful comparisons of diverse business entities with the main focus on their respective revenue streams.

The banking, finance and insurance sectors have been driving the expansion and growth of the LMD 50 over the years, recording the highest contributions to aggregate turnover, cumulative profits, total assets and shareholders funds when added up.

Elpitiya Plantations' factories receive ISO 22000

The Dunsinane Estate Tea Factory and the New Peacock Estate Tea Factory of Elpitiya Plantations Plc have been awarded the ISO 22000 Quality Certificate by SGS, Switzerland. These estate factories are owned and managed by Aitken Spence Plantation Managements Ltd.

The Dunsinane Tea Factory, situated in Pundalu Oya in the up country, produces quality CTC teas while the New Peacock Tea Factory, situated in Pussellawa produces black, CTC teas with coloury liquors.

Both factories have produced almost two mn kilograms of quality CTC teas per annum since 1989.

Obtaining the ISO 22000 Certification attests to Elpitiya Plantations' commitment to the manufacture of the highest quality CTC teas. The company commands the hard work of the two General Managers Senerath Pahathkumbura and M.I. Izzadeen and the direction provided by the Chief Executive Officer /Director Tony Goonewardena," said Aitken Spence Plc. Director and Aitken Spence Plantations Managing Director Dr. Rohan M. Fernando.

CBL unveils Nutriline

Ceylon Biscuits Ltd (CBL) recently unveiled 'Nutriline' the new breakfast cereal made entirely of locally procured grains such as soya, rice, green gram and corn. The first two variants under the Nutriline umbrella name - Nutri Pops and Rice Pops were introduced to the retail market in 100 gms boxes as well as a 30 gram serving size pouch. The company plans to add several new variants to its portfolio in the near future.

Recognizing the need for a convenient product at an affordable price for mothers to give their school going children, CBL came up with a breakfast cereal that packs in nutrients and energy, ready-to-eat straight out of a pack. Both Nutri Pops and Rice Pops are enriched with iron and do not contain any artificial flavours, colours or preservatives.

"This is a revolutionary step forward for mass consumers who want easy and affordable access to a wholesome breakfast" said CBL Foods international Ltd. Managing Director Susantha Gunawardene.

"There is a growing consumer demand for breakfast cereals" said Gunawardene who added that breakfast cereals are a new concept in Sri Lanka, with imported brands being too expensive and afforded by a niche upper end market. With Nutriline, CBL hopes to break this trend and offer a classic breakfast cereal using a local and familiar product base, which will provide children with the required daily nutrition. The offer of convenience means that mothers do not have to labour over cooking areas to provide the traditional rice based breakfast, a meal habit among most Sri Lankans.

Ingredients for Nutriline are from the CBL's backward integration project where farmers are supported to grow grain which is bought back by Plenty Foods, another subsidiary under the CBL umbrella.

Ada Derana Breaking News Alerts

Now on Mobitel:

Sri Lanka Telecom Mobitel, Sri Lanka's National Mobile Service Provider, now offers its customers the opportunity to receive 'Ada Derana' SMS news alerts from Derana, direct to their Mobitel mobile phones. This value added service was launched recently as the latest addition to a series of features and benefits that are built into the innovative packages that Mobitel has on offer. According to Mobitel, following a strategy of 'value innovation', which is built upon the objective that the Mobitel customer always wins, ensures that these VAS are all designed carefully with their customer's best interest at heart.

Meanwhile 'Ada Derana', who is currently in the course of expanding its news alerts service to other communication service providers, signed the agreement with Mobitel in a bid to create yet another vehicle to provide news more efficiently and speedily to the general public. This trusted News telecast on Derana television promises 'Truth First' and has earned a reputation amongst the local community as being accurate as well as timely in terms of bringing the latest news updates to the nation. "We believe that a telecommunications giant such as Mobitel deciding to associate with our Ada Derana News, is due to the credibility and confidence we have earned among the Sri Lankan viewers in such a short time," said Derana Director/General Manager Madhawa Madawala.

Mobitel, being Sri Lanka's National Mobile services provider, has grown in leaps and bounds and is now considered to be on par technologically with the very latest in the Sri Lankan telecommunications industry. Speaking on the launch of this new service, Sri Lanka Telecom Mobitel, Chairperson. Leisha De Silva Chandrasena said that, "Being the National Mobile Services provider, Mobitel is very keen on initiatives that enhance the service offering to our customers while strengthening relationships with local service providers. Mobitel is already associated with Derana in providing entertainment-based content to our subscribers via the Derana Dream Star Audio and Video portals. Through the introduction of Ada Derana News Alerts, we would be further extending this association to information-based services as well. We are confident that these two new news services would be well received by our valued customers."

Derana Chairman Laksiri Wickramage said that the sole objective was to provide news which is unbiased, as and when it happens. He said, "Mobitel is now in a unique position as the 'National' mobile service provider and has positioned itself to be in the vanguard of the mobile telephony sector.

To enhance top team skills:

Finlays Tea Estates signs MOU with IIHRM

Finlays Tea Estate Sri Lanka has entrusted the task of developing the competencies of the Company's senior and middle management to intercontinental Institute of Human Resource Management (IIHRM), a Sri Lankan company with global experience in enhancing performance across all categories of employees.

IIHRM was headhunted for the assignment and was selected by the leadership of Finlays Tea Estate Company in Sri Lanka and Finlays Headquarters in the UK.

IIHRM's task includes diagnostics tools, employing human test batteries integrated into a development centre using SHL tools, to identify the gaps in skills of the business leaders and developing customized solutions to meet the needs of individual managers.

The 24-month project includes customized training to bring the competencies of all senior managers to the desired benchmark level, determined by Finlays Headquarters in the UK enabling them to perform better.

"IIHRM will employee the state-of-the -art simulation tools, with activity based experiential learning using real life challengers when imparting knowledge to boost the levels of the Finlays top team", said IIHRM Managing Director Ranjeewa Kulatunga. Chairman Naresh Ratwatte said, "We have a business, which will be resilient to many challenges.

It is sustainable due to its diversity and we have a young team of very enthusiastic senior and junior managers who embrace constructive change seeking new paths of success.

This has reaped positive results with the strong leadership qualities that all our Managers have exhibited, especially during the difficult times we experienced in the recent past.

With this new initiative, we are confident that all our managers will achieve world-class competencies."

HSBC Lifestyle education loans

Helping students achieve their academic goals in life:

HSBC will facilitate student education loans at the country's largest higher education expo EDEX 2010, scheduled to take place from today at the BMICH.

During the two day exhibition, students who wish to invest wisely in their higher education in any chosen field, will be given the opportunity to sign up for HSBC's Lifestyle Education Loans, which are loaded with exciting advantages for both students and parents.

The special loan scheme ranging from Rs 50,000 to Rs 2,500,000 will be offered at preferential interest rates and tenors to anyone between the ages of 21- 55 years. Loans could be obtained individually or jointly (joint applications with parents are accepted) with the added flexibility of choosing the repayment period for up to five years with the repayment option of a reducing balance or equal instalment scheme.

In addition, a free international debit card will be offered at the time of account opening for loan facilities granted at the EDEX exhibition.

HSBC has also partnered with Softlogic and Dialog to provide students with special discounts on laptops and free internet connections to make their education experience more interesting and global.

Through the HSBC Lifestyle education loan scheme, parents will be free of the financial burden to pay for their children's higher education be it here in Sri Lanka or overseas, making it possible for students to gain an internationally recognised qualification/degree with ease.

HSBC Head of Cards and Consumer Assets Nadeesha Senaratne said, "HSBC has continuously served to empower the youth of the country, through building capacity skills and we are happy to be associated with EDEX, the largest Education Expo, where many foreign universities will be represented to offer career guidance to local students. Taking care of the financial burden, HSBC Lifestyle education loans will provide financial assistance to students who have the capacity to acquire a professional qualification and seek better employment opportunities".

The exhibition will comprise over 300 stalls representing over 23 countries and will be the one-stop platform for students, school leavers, undergraduates and parents alike to seek guidance from representatives of Local and Foreign Universities and Educational Institutions in higher education, vocational training and skills development.