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Sampath Bank disburse Rs 5.7 b in N/E last year:

New products in pipeline

Charumini de Silva

The Sampath Bank has disbursed around Rs 5.7 billion to the Northern and the Eastern provinces during last year. Access to finance is a key factor to the development of these provinces, Sampath Bank PLC Personal Banking Deputy General Manager, Nanda Fernando told Daily News Business.

He said with the reduction of interest rates, financial discipline and credit facilities has become more affordable to the public. Hence, the current non-performing loan (NPL) ratio of the banks has come down to less than one percent. This has resulted in more businesses and circulation of money in the economy.

"Customer trends are evolving rapidly and keeping up with the sprouting trend is essential to sustain in the industry. At present, people are in search of convenient products and service such as internet banking and cash withdrawals via cards. The customers compare the lowest cost and the highest speed of the product or service deliverance. Thus, we are focusing on both to cater to the customer requirement," Fernando said.

The performance of the personal banking sector showed a marked growth. During last year the sector recorded a growth of over 50 percent and is expecting a higher growth this year. The bank is also revamping the existing products while introducing new products.

IT based banking products are less expensive and very time efficient. Sri Lanka should look at developing the IT enabled products and services as we need to improve this segment further. However, to cater to this market segment; infrastructure development should take place in a faster manner while introducing new products and services.

The customer accessibility modes and channels should be enhanced according to the requirements of the clients. Introducing new products are essential to sustain with the rapidly evolving environment since consumers are keen on new products too. Therefore, regular market researches should be done to add value and to benefit the end user, he said.

Sampath Bank is planning on several investments throughout the year such as increasing the human resource base and expanding the banking network.

The bank expects to absorb around 300 new employees and to add value to the existing employees by offering the training locally and internationally. The company has also invested in immovable assets.

Emirates offers bonus miles on Colombo - Dubai route

Travellers with Emirates from Colombo to Dubai can now earn up to 10,000 bonus Skywards Miles by making their bookings in May.

The offer by the award-winning Dubai-based international airline via its 'Miles Accelerator' feature is valid for travel in May, June and July on Emirates flights EK651 and EK653 from Colombo to Dubai and on return flights EK348, EK650 and EK652 from Dubai to Colombo.

It is open to all passengers who are members of Skywards, the airline's frequent flyer programme.

Economy Class passengers on the designated flights from Colombo to Dubai can earn up to 2,000 bonus miles in May and June and 1,000 miles in July while Business Class passengers can earn 3,000 miles in each of the three months.

First Class passengers can earn 10,000 miles in May and June and 9,000 in July.

Economy Class passengers on the designated return flights from Dubai to Colombo can also earn 2,000 bonus miles in May.

Business Class Passengers can earn 3,000 bonus miles in May and 2,000 in June on flights EK348 and EK650 while passengers on flight EK652 can earn 3,000 bonus miles in May and July and 2,000 in June, the airline said.

These bonus miles are in addition to the Skywards Miles that passengers are already entitled to and the bonus miles they would normally earn if they fly First or Business Class.

"The benefits of the Miles Accelerator offer, which has been extended for purchases in May, will be enjoyed by a significant number of our passengers who travel between Dubai and Colombo," said Emirates Sales Manager in Sri Lanka Devika Ellepola.

"This value addition will further enhance the appeal of travelling with Emirates and is an incentive to register for Skywards membership," she said.

Abans launch next generation LG Cinema 3D and smart televisions

Abans, sole agent in Sri Lanka for LG Electronics, a global leader and technology innovator in flat panel displays and audio-video devices, launched LG's 2011 TV range, delivering cutting edge innovations that promise to transform the way consumers enjoy televisions at home. Featuring LG's proprietary CINEMA 3D technology and LG Smart TV functions, the new 2011 range features 11 series of LED, LCD and Plasma TVs to suit the entertainment needs of every individual, with more to be rolled out throughout the year.

Leading the lineup is the new LG LW6500, a Full HD edge LED CINEMA 3D TV equipped with LG Smart TV. The sleek TV brings 3D enjoyment to a new level with the employment of 3D technology similar to that used in cinemas, thus bringing to consumers greater comfort and convenience while enjoying their favourite 3D titles.

"We are proud to be able to set new standards in the market with the launch of LG's new CINEMA 3D TVs and LG Smart TVs," said Abans Beheman Pestonjee, Director.

"These new features will enhance the home entertainment experience for our consumers without compromising on visual quality for both 2D and 3D images. Along with upcoming Blu-ray players and home theatre systems equipped with the latest Smart technologies and advanced features, LG is set to cement its lead in the local market", he said.

Taking 3D to new heights, the LG CINEMA 3D TV is set to greatly improve 3D experience for home viewers with crisper images and wider viewing angles that was not previously possible with active shutter technology. The use of Film Patterned Retarder (FPR) technology in LG's CINEMA 3D TVs brings about a more comfortable viewing experience with a polarized plate on the panel, coupled with the use of polarized glasses by viewers. The technology optimizes the separation of images for the left and right eye, and the images are then filtered through the glasses to give viewers a better 3D effect with minimal cross talk.

The new LG CINEMA 3D TV is also able to display brighter and clearer 3D pictures than conventional 3D displays with the inclusion of the new Light Boost technology. This brightness enhancement film maximizes lighting from LED backlight to maintain the full brightness and picture quality of the original source.

Compared to conventional 3D displays, the Light Boost technology is able to deliver brightness of 150 nits, twice of what conventional 3D TVs can deliver, without increasing power consumption. For the reproduction of smoother 3D images, TruMotion 200Hz is featured on the flagship LG LW6500 series, which results in elimination of image blur and enables consumers to enjoy even the fastest action sequences in 3D. Consumers who are worried about the loss of image quality of high-definition content in 3D need not worry with the new LG CINEMA 3D range, as the new TVs are able to ensure no signal loss in Full HD 3D source with LG's very own 3D picture enhancement algorithm.

A common challenge faced by consumers using active shutter 3D technology is the inflexible viewing positions and limited viewing angles. With LG's CINEMA 3D TV, consumers can experience 3D images without restrictions on positions as the viewing angle has been increased to 180o horizontally. Users may sit, lean or even lie comfortably on their couches to enjoy true-to-life 3D images, and up to 20 viewers are able to enjoy 3D on LG CINEMA 3D TVs.

For users who find discomfort in viewing 3D on active shutter models, LG's CINEMA 3D technology delivers a virtually blur-free and flicker-free 3D picture, which reduces the possibility of dizziness or nausea. Also, LG's CINEMA 3D TVs are the world's first 3D TVs to be confirmed to deliver flicker free and crosstalk free images.

The new LG CINEMA 3D TVs also employ the use of affordable, lightweight polarized glasses that weigh only 16 grams, almost half the weight of conventional active shutter glasses. These glasses do not need to be powered by batteries, helping consumers to save in the long run. Additionally, the LG LW6500 (LG 47LW6500) series with CINEMA 3D has been awarded with the CNET Asia Editor's Choice Awards for delivering "one of the best 3D performances around".

A working model of the amazing LG Cinema 3D TV can be viewed at Abans flagship Elite Showroom at 498, Galle, Colombo 3.

Maliban introduces Hi-Cal Gold non-fat milk powder

Maliban Milk has earned substantial consumer confidence and become a houshold name today. The company has seen a remarkable three-digit growth in the recent past.

As part of innovative business drives the best Maliban Milk distributors have been given an opportunity to win tours in Australia and Malaysia along with a stay in a five star hotel in the 'Aussie Challenge' competition organized by the Maliban Milk Products (Pvt) Ltd.

The winners of this competition are now enjoying their Australian Tour at the Murray Goulburn Factory and Farmyard. In 2011, The 'Aussie Challenge' competition was extended to include shop owners selling Maliban Milk.

Maliban Milk Products (Pvt) Limited, which is a hundred percent local company who provide Sri Lanka with economical and high quality milk products are now on the verge of taking another massive step forward by introducing for the first time in Sri Lanka Maliban Hi-Cal Gold non-fat milk powder which contain 100 percent milk calcium.

A special feature of Maliban Hi-Cal Gold non-fat milk powder is that the milk calcium it contains is natural and since it has good solubility it can be well absorbed by the body. Milk calcium is also a trusted source of Calcium.

As a Sri Lankan corporate entity respecting Sri Lankan culture, the company has shown that it cares deeply about our society by introducing their CSR initiative of choice - the Maliban 'Abhayadana' programme which is also a model for other Sri Lankan corporates. In this initiative, a cow earmarked for slaughter is rescued by purchasing the animal and donating it to a needy farmer.

It's a brilliant way of taking care of animal welfare and poverty alleviation at one and the same time.

STC, Etisalat to boost ICT literacy with e-learning platform

Sri lanka's ICT sector, a key driver of the country's socio-economic development program envisioned by President Mahinda Rajapaksa, will be provided a boost through the joint efforts of the Education Ministry, the co-operatives and Internal Trade Ministry, Etisalat, and the State Trading Corporation (STC). This project was officially launched on May 12 at Taj Samudra by signing the MoU. Education Minister Bandula Gunawardena, Co-operatives and Internal Trade Minister Johnston Fernando, STC Chairman Pradeep Gunawardena and Etisalat Chief Executive Officer Dumindra Ratnayaka attended the occasion.

Etisalat will provide their 3.75G services and connectivity to Sri Lanka's education sector via the STC, providing a special bundle offer to all Sri Lankan schools, students and children at an affordable price and scheme. A sophisticated Notebook PC, a high speed Etisalat Internet connection with their 3.75G HSPA+ mobile broadband connectivity, educational e-learning content which comprises the school curriculum content on an e-learning platform and a HSPA+ modem unit, providing unmatched speeds both on up-link and download shall be included in the bundle offer. In addition, easy payment schemes from government and non-government financial institutions will be provided by STC to students and teachers at an affordable price.

Furthermore, extensive research reveals that one of the main barriers for Internet growth in Sri Lanka is the caution exercised by parents due to the misuse of this service. This has been addressed by incorporating world renowned parental control software known as NetNanny into this special bundle offer. This software can protect students to the maximum level while making valuable internet resources available to them, which will be good news for parents in Sri Lanka.

As a CSR initiative in partnership with STC, Etisalat has come forward to donate this full-fledged educational system to all Sri Lankan schools. This initiative will take this technology to the grass root level, aiding in bridging the gap between urban and rural whilst expanding various possibilities.

School curriculum-based e-learning content shall be provided on an e-learning platform powered by Etisalat. This e-learning content will be developed with the direction and endorsement of the Education Ministry and the quality of the service will be ensured by utilizing the best qualified and trained resource personnel in the country, with strictly monitored standards. This portal shall be equally important to teachers and students, and teachers can use this service as a reference prior to teaching, thus improving the service delivery of teachers. Further this can be used as an innovative teaching medium to make the classroom experience more interesting and interactive. As a whole, the teaching community in Sri Lanka will greatly benefit through this initiative on a major scale, and students can also use this as a supplementary mode of education for revision. Parents who are concerned of the time spent on travelling and safety of children while attending tuition classes can use this platform as an alternate method of education without compromising on quality. All ground work related to this innovative e-learning platform is currently underway and the service will be made available in a short span of time.

The exclusive distribution channel in this regard will be the State Trading Corporation (STC) and these products will be sold through the Corporation's extensive distribution channel. The services will function on a tri-lingual platform, thereby breaking language barriers and enhancing accessibility and availability for all. With the farsighted objective of developing ICT literacy in Sri Lanka, this endeavour backs up Sri Lanka as it reaches the grass root level via STC's extensive distribution channel.

The proposed concept being "Internet for Everyone," it is on par with this broad vision of the state sector, aiming at making the internet available to all, thereby establishing it as a 'necessity' as opposed to a 'luxury'. Having understood the invaluable role of the Internet in the education sector, The State believes that new generational trends and habits should be revolutionized and it should begin from the education sector. The project will primarily target teachers and secondly the students, ensuring that the education sector will be strengthened on all terms.