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ARC award for ETI Annual Report

Edirisinghe Trust Investments Limited (ETI), one of Sri Lanka's corporate giants has been awarded a prestigious ARC International Annual Report Award. The bronze award for the 'Best-Illustrated Annual Report' in Financial Services; Consumer and Specialty category was won by ETI at a gala event on September 16, in New York.

ETI CEO Mahendra De Silva receiving the International ARC Award for the 2008/09 Annual Report of ETI at the ceremony held at New York from ARC representative Reni Wit, flanked by ETI Executive Director, Nalaka Edirisinghe (left) and ETI General Manager Finance and Administration Sisira Pushpakumara.

The winners were deemed the best out of over nineteen hundred entries from 27 countries including UK, Germany, Japan, China and Austria. The ARC Awards, established by MerComm, Inc., in 1987, were created to honour overall excellence in Annual Reports, and to encourage noteworthy and vital writing, as well as imaginative and original design.

It was a wonderful experience all round to be recognized at the world's largest Annual Report (AR) Competition held at the Ritz Carlton Ballroom of The Ritz-Carlton, Battery Park in New York City said ETI Chief Executive Officer, Mahendra De Silva.

"Many Sri Lankan companies participating in the gala event clearly highlighted our country's corporate standard and readiness of the local companies to face challenges in a developing economy," he said.

The award winning AR of ETI was produced for the year 2008/09, the year Sri Lanka's economy, was in rough seas. Despite the fact, performance of ETI in the year has been impressive with an operational profit of Rupees 287.2 million up by 48.90 percent over the previous year's operational profit of Rupees 192.9 million.

The after tax profit was Rupees 264.7 million against Rupees 129.6 million in the previous year. ETI has achieved earnings per share of Rupees 509.23 during the year under review compared with Rupees 249.38 in the previous year.

Further elaborating on the subject, De Silva said, although it is mandatory only for the quoted companies to produce Annual Reports of this stature, ETI with a history of 42 years was determined to benchmark and produce its AR with a professional touch.

"Thus we wanted our AR to be on par with those of other reputed financial institutions in the country. In 2004, our AR was produced in-house.

"Then our usual printer had a stint with it. Subsequently, this task was entrusted to Smart Media, the most reputed AR Company in the country. They lived beyond our expectations to produce the 2008/09 AR to bring us this honour, said De Silva. Smart Media too was honoured at the ARC Awards with the Platinum Achievement Award, as the design agency in Colombo, which placed the most wins for its clients," he said.

"The benchmarking process initiated by De Silva to produce a quality AR eventually resulted in fruition to bring this honour and recognition to ETI at ARC Awards. ETI's intention is to clinch a Gold at ARC Awards and also at the local competition conducted by the Institute of Chartered Accountants of Sri Lanka.

"From June 2011, it is mandatory for all finance companies to register with the Stock Exchange thus producing an AR will be a must. We will be more than ready by such time to compete with the giants," said a very confident De Silva.

ETI ventures into Socially Responsible Diversification

ETI being a company, which is fully aware of its core-competencies, have ventured into profitable and socially responsible diversification. While the core businesses of ETI is pawning of gold jewellery and fixed deposits, ETI homes, ETI Trade Finance, ETI lands and ETI leasing have come into the fore lately. ETI homes have become the first property development company in South East Asia to obtain ISO 9001:2000 certifications.

Way forward

After bringing turbulent times of the country to an end, President Mahinda Rajapaksa has presented a middle and a long term plan to achieve sustainable overall development of the country. In the wake of mega projects and infrastructure development, the wealth of the country is sure to receive a boost. However, De Silva emphasized concentration in Colombo, which contributes directly towards social and economic tribulations we experience at present, as one of the major crises of the country.

The visionary leadership of the President would provide answers to this problem in the long term. Being an ethical company, ETI is poised to be an active partner in the country's futuristic economic plan, said De Siva.

Sumathi Awards:

Triad wins Gold

The Triad team accepting the Gold Award at the awards ceremony.

Triad won the Gold for 'Best TV Commercial of the Year' - Mobitel "Digin Digata Katha" at the annual Sumathi Awards, which was held on October 16 at the Sugathadasa Indoor Stadium. This is the third year that Triad won the top award at the Sumathi Awards which is dedicated to recognizing outstanding television creations of the year.

The Triad Team won this accolade for an insightful campaign idea conceptualized for Mobitel when the brand launched the telescopic pricing strategy.

Understanding the aggressive competition and the media clutter, the Triad Team worked on a local insight that mirrored the way of life of typical Sri Lankan youth. The simple yet relevant "realities" captured in the television advertisement succeeded in transcending its commercial message and making it a memorable communication idea with great target appeal.

DVB wins MACO Award

DFCC Vardhana Bank (DVB), the banking unit of the development bank, DFCC Bank recently received the MACO award, from the Mass Communicators Association of Sri Lanka.

DFCC Vardhana Bank CEO Lakshman Silva (extreme left) receives the MACO award from Religious and Cultural Affairs Ministry Permanent Secretary Cashian Herath. MACO General Secretary Sunil De Soyza look on.

The awards ceremony was held at the Grand Oriental Hotel recently. The award was presented to DFCC Vardhana Bank CEO Lakshman Silva by Religious and Cultural Affairs Ministry Permanent Secretary Cashian Herath.

DFCC Vardhana Bank was presented with a MACO award for the contribution the bank has rendered through its partnership with Sri Lanka Post to the improvement of infrastructure in the peripheral and rural areas of the country. Through this partnership DFCC Vardhana Bank provides exceptional banking inclusions to the people in rural areas.

This initiative has also been instrumental in creating employment opportunities in those areas thereby improving the livelihoods of the people. Furthermore, a special mention was also made of the bank's work done in these areas as it supports the overall plans of the government in developing the rural and peripheral areas of the country.

In 2009, DVB worked diligently to ensure that its services were made available in the most remote areas in the country. This is one mandate that the bank continues to follow - along with the belief that with infinite growth always brings infinite possibilities. During last year and the first half of this year the bank added 61 delivery points including 55 Extension Offices (EO) at Sri Lanka Post Offices to its physical distribution network. The bank currently has a total of 100 branches and extension offices.

Kiribathgoda Seylan Bank relocates

The Seylan Bank, Kiribathgoda Branch has been temporarily relocated to No 94, Ground Floor, Udeshi City, Makola Road, Kiribathgoda with effect from October 19.

The complete range of banking services as usual are on offer along with an ATM machine giving 24-hour access to the accounts of the clientele.

Bharti to partner Ericsson, Huawei

Bharti Airtel announced an agreement with Ericsson and Huawei to deploy state-of-the-art network across Bangladesh.

The agreement is modelled on Bharti's highly successful managed networks business model in India and Sri Lanka.

This will enable Bharti to take its network deep into Bangladesh and contribute to the growth of telecom in the country with affordable services.

Bharti acquired 70 percent stake in Warid Telecom in January 2010.

SLIM Effie 2010 - Marketeers perspective

Effectiveness can be measured by way of producing results with less resources in management terms can be defined as “Doing the right thing”, in ratification it means with less resources you produce more results; Effie awards honour marketing communications ideas that have demonstrated results.

Results means accountability for every marketing rupee spent, which poses an immense challenge to marketeers who will have to strike a balance between hard selling effectiveness and the notions of creativity and emotion in advertising and communication which are so vital in creating sustainable brands. SLIM Effie Awards recognizes such Brands that have made an impact on their respective businesses. The Effie awards since its establishment in 1968 and subsequent expansion across 40 countries has become a global symbol of achievement in marketing communications.

“It’s a real accolade to win an Effie nowadays, given the shifting media and market landscape, requiring the very best combination of strategic rigor and creative thinking,” said Unilever Sri Lanka Marketing Director and SLIM Effie 2010 Jury Panel Chairperson Ramani Samarasundera.

“In Many cases flat is the new up in a down economy and holding onto market share or successfully introducing a product when spending is down is no small feat.”

“This year my team of judges comprises the best among the industries. Their expertise and Knowledge in the field of marketing will bring a different dimension to the overall Judging Process in line with the framework provided by Effie Global (American Marketing Association)”, Samarasundara said.

The judges panel comprises: Unilever Sri Lanka Marketing Director Ramani Samarasundara (Chairperson)

Diventars Training Chairman and Managing Director Lasantha Abeywickrama (Advisor to the Judging Panel)

Glaxo SmithKline Beecham Chairman and Managing Director Sachi Thomas

Fonterra Brands Lanka Marketing Director Vidya Sivarasaraja

Sampath Bank Marketing AGM Tharaka Ranwala

Words Managing Director Rohan Rajaratnam

Grants Group Vice President Laila Gunasekera Martenstyn

LoweLDB COO Chalaka Gajabahu

BBDO SWARA CEO President Keith Wijesuriya, Accredited Advertising Agency Association

Quantum Research Senior VP Roshani Fernando,

Vanguard Management Services CEO Lakshman Bandaranayake and

Kelaniya University’s Prof. Sunanda Degamboda

SLIM President Rohan Somawansa said “Sri Lanka Institute of Marketing has brought the big league of advertising awards to Sri Lanka in association with the Accredited Advertising Agency Association.

Effie Awards is one of the biggest and most challenging advertising awards as it focuses on rewarding ideas that work. We are certain that these awards would no doubt assist in the cause to improve the standards of marketing communication in Sri Lanka.”

SLIM Projects VP Thushara Perera said “With Sri Lanka poised to grow and take on the world it is vital that our marketing communication delivers the right kind of results enabling marketers to tap the full potential of the global market place, Effie’s which rewards marketing communications that is effective, drives the industry to be more results oriented.

Effie’s in fact rewards effective creativity, in other words “creativity that works” which is an apt rewards programme for the Sri Lankan communication industry given the current context.”

“The economy has not stifled creativity, it has propelled marketers to become more innovative and accountable, and marketers want business results so they will spend where they can measure effectiveness.” SLIM Effie Awards 2010 Project Chairman Elangovan Karthik said.

Accountability is key theme among corporates who speak of an intense “focus on measurement,” the importance of “demonstrating the financial impact of marketing campaigns” and “personal ownership of delivering results”, “The challenge for marketeers right now is creating brands relevant among consumers at the same time, they must deliver measurable results proving the value of every marketing rupee spent.”

This challenge can be met only through the collaborative efforts of marketeers and the creative and media experts. The Effies 2010 seeks to award and recognize such winning collaborations,” he said.

This year’s SLIM Effie’s 2010 awards sponsors consist of Elephant House as corporate sponsor and other sponsors are Peoples bank, Micromax Mobiles, DSI and all of service sponsors whose generous contribution towards the cause of effectiveness has enabled to host this year’s event.

The closing date for entry submission will be October 20, at 3 pm. The entries need to be handed over to Effie’s office at SLIM. For more details could be obtained by visiting Effie website www.effie.lk

Minneriya Fifth Gunner Supercross:

ERI, CLPL main sponsors

The Environmental Resources PLC (ERI) and Ceylon Leather Products PLC (CLPL) are the sponsors of the Gunner Supercross - one of the key events in Sri Lanka’s motor sports calendar. It is the capstone race for Sri Lanka Association of Racing Drivers and Riders (SLARDAR) championship and the only such event to be held in Polonnaruwa-Thamankaduwa region.

Organized by the Sri Lanka Army’s Artillery Regiment (popularly known as the Gunners) in association with the SLARDAR, the fifth Gunner Supercross will be held on October 24 at the Minneriya Sri Lanka Army’s Artillery Complex. Minneriya racing circuit is a uniquely constructed gravel track promising an aura of excitement combined with the spills and thrills of motor racing.

“We are pleased to be the main sponsors of the fifth Gunner Supercross as the proceeds will be utilized towards uplifting the welfare standards of the families of the brave men and women who made the supreme sacrifice for the motherland and those injured during the war,” said Environmental Resources Investment PLC and Ceylon Leather Products PLC Chairman Lalith Heengama. “It is our bounden duty as countrymen to look after the brave and valiant men, women and their families who helped to protect our country from terrorism,” he said.

“Gunners have been in the forefront during Sri Lanka Army’s Humanitarian Operations against ruthless terrorists. The Gunner Supercross is a major fund raiser towards their welfare. We are pleased that we have been able to attract two prestigious corporate entities in the stature of Environmental Resources Investment PLC and Ceylon Leather Products PLC to be the main sponsors of this exciting motor sports event held for the benefit of the war heroes and their families. We thank ERI and CLPL for coming forward to sponsor this important event, and look forward to working with them in the future as well,” said Artillery Regiment Commandant Major General Jagath Rambukpotha.

Royal Furnishers wins award

The Independent Mass Communicators Organization recently concluded the “2010 Swarna Lanka” Awards Ceremony.

This glamorous event was celebrated on October 8 at the Mihilaka hall located at the premises of the B M I C H. The chief guest for the event was the Speaker Chamal Rajapaksa. The main focus of this year’s award ceremony was to foster Sri Lanka to become the “Miracle of Asia”, the vision of President Mahinda Rajapaksa.

In support of this task, the Independent Mass Communicator’s Organization identified and awarded leading companies that shouldered this great responsibility. Among these companies Royal Furnishers (Pvt) Ltd. was presented with the Swarna Lanka award in the furniture category.

The Independent Mass Communicator’s Organisation, General Secretary Sunil R Wijekoon said Royal Furnishers was selected based on some key elements. Their findings reveled that the company uses “A” grade raw materials to produce their range of furniture.

“Further, the practicality of their designs, exact proportions and other technical specifications too were up to the mark. And finally, the workmanship and quality of their range of locally manufactured furniture conformed to the standards that panel of judges were looking for to present the company with the prestigious Swarna Lanka 2010 Award in the Furniture Category,” he said.