ADVERTORIAL

Kandurata Navodaya:

Self-employment loan scheme from Lankaputhra Development Bank

Lankaputhra Development Bank and the National Democratic Union have jointly signed a memorandum of understanding on the provision of financial assistance to promote self-employment among the estate population.

The MoU was signed in Colombo by Chairman Upali Liyanage and General Manager and Chief Executive Officer, Lasantha Amarasekara on behalf of Lankaputhra Development Bank and by President K V Marathaveeran on behalf of the National Democratic Union. The loan scheme will be implemented under the supervision of the Manager of the Kandy Branch of the bank, Deepika Navaratne.(Picture by Lalith Gamage)

This is expected to transform the estate population into a vibrant entrepreneur community and harness them towards national development.

The loan scheme will be initially implemented in 25 selected estates in the Hatton zone of the Nuwara Eliya district. It will then be extended to the entire Nuwara Eliya district following its success and then to the whole country.

The recommendation of the Superintendent of the Estate is required to obtain these low interest loans.

Loans will be disbursed for vegetable and flower growing, sewing, production of sweets and other food items, beauty culture, video filming, retail and many other such sectors under this scheme.

Implementation of a loan scheme of this nature is considered a great success achieved by the Sri Lankan estate community for the first time. It will be launched by the Kandy branch of Lankaputhra Development Bank while project monitoring and clearing the loan will also be handed by the Kandy branch.

Lankaputhra Development Bank which is a fully State owned entity was launched with the aim of boosting the national economy.

Several projects are being implemented by Lankaputhra Development Bank to promote the small and medium-scale entrepreneurship sector, including most importantly the Krushi Navodaya, Mahaweli and Nawa Sapiri Rural Loan Schemes. The Bank also offers several savings schemes for the young with attractive rates of interest. In addition, leasing facilities could also be obtained from Lankaputhra Development Bank.

The bank is now successfully operating branches in Colombo, Hambantota, Polonnaruwa, Kegalle, Kandy, Wennappuwa and Batticaloa.

ICICI, Sampath Bank tie-up for money transfer

ICICI Bank Limited ("ICICI Bank"), India's largest private sector bank, launched of Money2SriLanka (M2SL), an online cross-border money transfer facility in partnership with Sampath Bank PLC.

ICICI Bank has a presence in Sri Lanka through its branch office in Colombo.

From left Chief Risk and Compliance Officer Anoja Karunaratne, Deputy General Manager-Marketing and Business Development Tharaka Ranwala, Deputy Managing Director Aravinda Perera, Managing Director Harris Premaratne from Sampath Bank with Group Executive - Head International Banking Vijay Chandok, Senior General Manager, Group Compliance Officer and Company Secretary Sandeep Batra, Deputy General Manager and Country Head, Sri Lanka Kumar Thampi from ICICI Bank

M2SL is a web-based online remittance platform which facilitates the sending of remittances from various geographies to beneficiaries in Sri Lanka in a convenient, speedy and economical manner.

This service will be piloted in Canada and the United Kingdom and will shortly be rolled out in Australia, USA, South East Asia and the Euro Zone in the second phase.

An ICICI Bank spokesperson said, "ICICI Bank remains committed to extend its expertise in the cross border payments business and the online tracking service for money transfers is the first step towards creating a remittance platform for Sri Lanka."

The remittance received through M2SL is available for account holders of ICICI Bank Sri Lanka and Sampath Bank instantly on the day of receipt of funds in Sri Lanka, while the remittances received on behalf of account holders of other banks in Sri Lanka will be disbursed via Sri Lanka Interbank Payment System (SLIPS) with the same day value, subject to cut off timings for processing of the payments. One of the important features of this facility is the availability of an online tracking system to trace the status of a transaction from the point of initiation up to the point of payment to the beneficiary.

ICICI Bank has been one of the leading players in the Indian remittance market and its proprietary online portal, Money2India.com has proven to be a breakthrough in mobilizing remittances into the Indian market.

Samsung launches 'Frrrunch' refrigerators

For long lasting freshness:

Samsung launched its 5-Star rated 'Frrrunch' range of refrigerators comprising nine new frost free models. Aptly titled 'Frrrunch', the refrigerators offer the advantage of 'fresh and crunchy' fruits and vegetables by retaining optimum moisture control that enables them to stay fresh for a longer period of time.

The unique benefits of the Samsung refrigerator range starts with the special Frrrunch Box that combines advanced Moisture Control Technology to ensure freshness in vegetables. With optimal moisture maintained inside the Frrrunch Box, vegetables remain naturally fresh and delightfully crunchy. The Frrrunch refrigerators also offer a special zone to store fruits - the Fresh Veggie Zone. Located just above the Frrrunch Box, the Fresh Veggie Zone ensures that fruits stay fresh, tasty and easily accessible. Furthermore, the innovative Cool Pack in the freezer section assists in keeping the food fresh as its special 'phase change material' helps maintain a low temperature in the freezer section, preventing food from melting or getting spoilt during a power failure for extra 60 minutes.

The Samsung Frrrunch refrigerators, the most energy efficient refrigerator range, comes fitted with the innovative LED Light System. This futuristic technology ensures that the entire refrigerator is well lit up so that the users can see and access food items easily. This unique LED Light System is energy efficient and saves power too.

Samsung Sri Lanka Country Head Shankar Narayan said, "At Samsung, it is our continuous endeavour to enrich the lives of our customers by introducing innovative features in our products. As in the case of the Frrrunch range, we have introduced features that ensure longer lasting freshness in stored fruits and vegetables. With the addition of these new models to our products range, we are expecting to garner a 20 percent market share of the refrigerator market by the end of the year."

The Samsung Frrrunch refrigerators are a perfect fit in the most elegant kitchens, making a style statement with their simple elegant body, new handle design and vivid colours. four new colours -White Ivy, Silver Ivy, Wavy Brown and Titanium Silver have been introduced. Select models in the Frost free range (315L and 345L Models) come with an electronic panel for adjusting temperature without opening the door.

A spacious and practical interior with improved storage options has been provided in the Frrrunch range with the introduction of a third shelf in all the capacities; a special Dairy Zone for storing dairy products, a more durable Deep Guard to store even two-litre water and beverage bottles, a specially designed Kid-fun tray that has several funny moulds that produce interesting ice candy shape and a new Utility Box.

The Samsung Frrrunch Frostfree range is available in the capacity segment of 230L to 345L. The Frrrunch range is available across Samsung Flagship stores, Softlogic, Softlogic Max, Singer Mega, Singer Plus, Sisil World, Singhagiri and Duty free shops located across the country.

Kia Optima receives welcome in Colombo

A new benchmark for luxury driving, superlative design and motoring safety has fired the imagination of motor enthusiasts in Sri Lanka with the unveiling of the 2011 KIA Optima, eight months after the all-new KIA Sportage launch.

The 2011 Kia Optima, a winner of multiple top international awards for its revolutionary design and advanced, class-leading safety features, was the star at an eagerly anticipated gala preview at the Cinnamon Grand Hotel on Tuesday.

.At the KIA Optima launch. Picture by Saman Mendis

The former Audi Chief Designer, Peter Schreyer — renowned for some benchmark designs such as the Audi T.T. and the redesigned VW Beetle — in his role as Chief Design Officer of KIA designed this all-new automotive masterpiece. It will elevate the norms of luxury driving hitherto known to local auto enthusiasts when the cars begin arriving in the country from September 2011, Kia Motors (Lanka) Limited said.

The new Optima exudes an athletic confidence from every angle and shut line - its raked roofline, the high and pronounced shoulder line of its sculpted flanks and its extended wheelbase are complemented by boldly flared wheel arches and a shallow glasshouse that create a saloon with a muscular and self-assured stance.

The striking visage of the Optima features a new interpretation of Kia’s bold ‘tiger’ family face that’s edged by piercing projector headlamps.

Longer, wider and lower than before, the Optima’s coupe-like profile is enhanced by the sweeping chrome arc that flows from A to C pillar, a distinctive design motif that visually lowers the car further still and enhances its cab-backwards proportions.

Spacious, and with class-leading levels of safety and luxury equipment, the Optima’s intelligently configured and driver-oriented cabin underlines this newfound poise and presence.

“The next generation Optima possesses the power to surprise,” Peter Schreyer has said of his acclaimed creation. “It’s a car that people will simply not expect from Kia - and that’s exactly what we set out to achieve.”

Designed to ensure higher performance, greater fuel efficiency and lower emissions, the Optima’s class-leading environment-friendly powertrains utilises a 2.0 litre MPI lightweight Theta ll petrol engine. It delivers extra torque by employing a straightened air intake system that allows inhalation of a greater volume of air. The CVVT engine offers maximum power of 165 ps, maximum torque of 20.2 kg-m and displacement of 1,998 cc. Standard with six speed automatic transmission is the Active Eco system that optimises all the drive train elements to deliver significant fuel saving.

“The insatiable global demand for the 2011 Kia Optima reflects its universal appeal in many aspects including design, safety, price and leading-edge features,” Kia Motors (Lanka) Limited Managing Director Mahen Thambiah said.

Odel Kandy store to open soon

Kandy will be the first location outside the Greater Colombo area to have its own ODEL experience, when it opens its latest store at the Kandy City Centre, on May 20.

A section of the ODEL Kiribathgoda store opened in March.

Situated on the third floor of the popular mall, at Shop No.L3-3, Kandy City Centre, No. 5, Dalada Veediya, Kandy, the store occupies 4,200 square feet of trend-defining retail space. In addition to the Gents, Ladies and Kids departments, Backstage, Embark and Souvenir departments will add to the ODEL experience, extending to residents of Kandy and its environs the convenience of shopping in an easily accessible location close to their homes.

The spacious car park adjacent to the Kandy City Centre will provide ample parking facilities to customers of the new store which will be open for business on all days of the week from 10.00 am to 8.00 pm.

A colourful fashion show will be held in the evening prior to the opening of the store on the designated day, the company said. ODEL founder and CEO Otara Gunewardene will be present.

"It is with great pleasure that we finally open in Kandy which has been something we have been looking forward to for a long time," Gunewardene said.

"We are very proud and happy to announce the opening of a retail store by 'ODEL', one of the most reputed Sri Lankan brands in the world, at Kandy City Center, as the first store in our clothing section," Owner of Kandy City Centre Thusitha Wijayasena said. "This development, no doubt will give the shoppers in Kandy a new fashion retail experience."

The opening of the Kandy store follows the opening of the Kiribathgoda store in February. It is the first new ODEL store of the 2011 - 12 financial year. Construction of ODEL's next store at Wattala is nearing completion.