Sri Lanka Business News | Online edition of Daily News

Financial powerhouse LB Finance recently brought in the choicest financial harvest to Thambuththegama, the agrarian township a few kilometres away from the Anuradhapura town. The 40-year-old giant brings with it the sheen of experience in the industry as well as a plethora of quality financial packages that will support the town's burgeoning economic system.

LB Finance has been recording phenomenal figures, as its net profits rose by 94% since last year, to hit Rs. 351 million at the end of the quarter ended June 2011. Net interest income rose by 42% between the period of June 2010 and June 2011, to Rs. 800 million, while the company's asset base grew steadily from Rs. 28 billion last June to a sturdy Rs. 31 billion as at June 30, 2011. Non-performing loans and assets have been gradually streamlined, with Provision for Bad Debt and Devalued Investments falling by 44% to Rs. 15 million over the passage of the year.

"LB Finance will bring our renowned portfolio of financial products to our latest Branch, as we have brought them to all our operations across Sri Lanka", said LB Finance Managing Director Sumith Adihetty. Adihetty's claims are fully validated by the impressive portfolio of the company. Headed by its three-pronged attack of leasing, hire purchase and fixed deposits, the company also has on offer a cutting-edge range of gold loan, microfinance, inland money transfer and factoring services, serving up credit facilities to meet across-the-board customer requirements both individual and corporate.

The opening in Thambuththegama comes as part of a rigorous expansion strategy that has encompassed Wennappuwa, Elpitiya, Kotahena, Sea Street, Matale, Mahiyangana, Nelliadi, Manipai, Kilinochchi and Chavakachcheri this year alone and extended the reaches of a vast network islandwide. Each branch specializes in bringing the high degree of benchmark customer service that LB Finance prides itself upon. "Our customers are our chief reviewers and the increasing confidence they show in us is our most-valued testimony", commented the Managing Director.

LB Finance offers its credit avenues to enable financial empowerment while also reaping the highest returns.

The Finance expands pawning service centres

In keeping with the strategy of expanding its pawning business The Finance Company PLC is in the process of opening dedicated pawning service in strategic locations in the country. Two pawning service centres were opened recently in Modara and Trincomalee.

The Modara Pawning Service Center was opened by Executive Director Tissa Ekanayake and now operates from Muthuwella Road, Modara. The Modara Pawning Centre is the company's first stand alone centre dedicated primarily for pawning. The pawning business which is a major contributor to the firm's bottom line, has been achieving a high growth rate of 64% in the last quarter. More dedicated pawning centres are to be opened in key parts of the island in the near future.

The Trincomalee Pawning Centre was opened by Director and CEO Kamal Yatawara and commenced business from Thirugnanasampanthan Veethi, Trincomalee, recently.

Having People's Bank, Bank of Ceylon and Seylan Bank as its key shareholders, the company had an encouraging start to the new financial year where the firm recorded a profit at the end of the first quarter of 2011.

The Finance Company PLC, which is household name has over seven decades of unmatched experience in the non banking finance sector serving the Sri Lankan public through a network of 60 branches spread island-wide.

Union Assurance life sales team powered with Samsung Galaxy Tabs

Union Assurance PLC CEO Dirk Pereira (fourth from right) handing over Galaxy Tabs to the life sales team accompanied by AGM - Planning and Sales Force Administration - J.M. Niyaz (sixth from right).

Union Assurance prides itself on being an organization dedicated to serving its customers in a transparent, respectable and convenient manner. Ensuring that its customers are fully satisfied at every step of their relationship with Union Assurance is the benchmark towards which UA operate.

With this intention of continuously supporting and upgrading the sales team to provide professional customer service with greater convenience to customer, Union Assurance has embarked on another first in the industry project by providing "Samsung Galaxy Tabs" to the sales team. The first set of Galaxy tabs were handed over to the recipients at a ceremony in Ceylon Continental Hotel.

ComBank extends mobile banking to Etisalat users

Commercial Bank Chief Information Officer Rohan Muttiah (third from right) and Etisalat Sri Lanka Chief Sales Officer Sanjeewa Samarasinghe exchange a copy of the agreement. Etisalat Treasury Head Ravi Rathnayake, Etisalat Senior Engineer Sidath Manawadu, Etisalat Senior Manager Mahesh Amarasiri, Commercial Bank Deputy General Manager Operations Sanath Bandaranayake and Commercial Bank e-Banking Senior Manager Pradeep Banduwansa look on.

Commercial Bank account holders on the Etisalat network can now experience the convenience of the full range of mobile phone based banking services offered by the bank following an agreement between the two organisations.

Consequently, the 'Com re-Load' facility that enables customers to instantly top up their mobile phone account balances 24 hours a day, 365 days of the year; SMS Banking (ComSMS) and mobile banking services offered by Commercial Bank are now available to accountholders of the bank with pre and post-paid Etisalat connections.

PCH introduces Marbella GPS systems

PC House (PCH) has introduced a world renowned navigational device, the Marbella GPS Systems. This device is a straightforward, easy-to-use GPS navigation system combined with extensive street atlases of over 60 countries in a super slim, sleek design with touch screen controls.

PCH Chairman, S H M Rishan and PCH Chief Operating Officer, Mobile Handsets Division, Failan Saleem presenting the newly launched Marbella GPS Navigational Devices.

PCH Chairman Rishan said, "This is a must-have technology for any vehicle owner whether travelling here or overseas. Although our product is less expensive, it is equipped with the most up-to-date maps and information any vehicle owner would require."

PCH Mobile COO Failan Saleem said "We have built a close partnership with Maka Technologies, a telecommunication and eCommerce solution provider, where they provide the Marbella navigator, an all-in-one GPS solution with a built-in GPS receiver (module), speaker and LCD monitor which is available in multiple sizes ranging from 4.3 inches to 7 inches without any connecting interface. This device is an all-in-one GPS navigator, which will route your way with its pre-loaded Sri Lankan road map with over 100,000 locations and also offers an optional service of loading specific country maps at a reasonable fee for over 60 countries. Besides navigation and route planning, this GPS receiver can also be used for land surveying, as well as coordinating tracking on land and waters."

The Marbella GPS is the ideal solution to removing driving barriers. Incurring no setup fees or monthly charges and is reasonably priced, the Marbella GPS system is a perfect aftermarket option for automobile owners without today's expensive built-in GPS systems. This device allows the driver to select the destination and access directions from any location to the required destination with a touch.

With the use of technology, paper maps have become obsolete as technology has taken over lifestyles. The GPS navigational system is an easy-to-use solution that will give the driver a virtual experience with accurate directions to any part of the country plus giving the user video and music experience through its music and video player. Hence it can also be used as an in-car entertainment system. The device also boasts of latest features such as Bluetooth, expandable memory via compact flash and USB connectivity.

Global Academy of Marketing launches marketing course in Sinhala

The Global Academy of Marketing has introduced a new course in marketing in the Sinhala language. Students who successfully complete this marketing-oriented study programme will be awarded a locally and internationally recognized and accepted certificate and they can also use the post-nominal title pertaining to this professional qualification after their name.

The Global Academy of Marketing was established to provide marketing knowledge to all the sectors of society to promote, upgrade and exchange existing marketing knowledge and encourage scholars to engage in research in the topic and develop it as a profession. The Academy is recognized globally for its practical approaches in its marketing education and is probably the most popular amongst the business community for its level of study.

This course in marketing consists of eight subjects. The theoretical knowledge on marketing embedded in these eight subjects and inculcated to students effectively transform into a practical environment within the classroom to make them fully-fledged marketeers ready to face the challenges ahead with confidence and commitment. The course is initially divided into two segments, the General Certificate in Marketing and Advance Certificate in Marketing. Students in the Sinhala Language stream can follow only these two sectors. The other follow-up segments of this marketing study programme should be followed in English.

Students who complete the Post Graduate Diploma in Marketing, the fifth segment in the series and acquired the knowledge and skills of a professional marketeer also have the opportunity of reading for a post graduate degree in marketing in a university overseas.

Students who complete the whole course will be awarded a locally and internationally recognized certificate by the Global Academy of Marketing. In addition, they are entitled to the JGAM, SGAM, AGAM, and MGAM, FGAM post-nominal titles which are highly recognized and accepted in the field of marketing.

The new course in marketing in the Sinhala Language offered by the Global Academy of Marketing is therefore an excellent opportunity to students to acquire knowledge, skills and excellence to become a professional marketeer as it opens the door towards reaching the ultimate goal of a post graduate degree in marketing.

While students follow the first two parts of this marketing course in the Sinhala language, they can systematically obtain the necessary help and guidance to switch on to the follow up segments in the English language.

This course in marketing is ideally suited and enormously useful to small and medium scale entrepreneurs, executives and trainees of major companies, professionals in the medical, legal, engineering and Information Technology (IT) spheres and also those in hospitality and tourism, banks and financial sectors, insurance, construction, supermarkets and shopping malls, apparel and beauty culture segments and businessmen at all levels of activity.

More information on marketing courses on offer can be obtained from the Global Academy of Marketing website www.gameducation.co.uk or email [email protected]

MARKSS HLC holds thematic evening

MARKSS Healthcare (MARKSS HLC) one of the fastest growing pharmaceutical companies in Sri Lanka, under its flagship sustainability initiative, "Markss Wellness Campaign", organized a thematic session in Dambulla on the topic "The importance of maintaining optimal immunity during pregnancy" recently. Consultant Obstetrician and Gynaecologist Dr. Ajith Walisundara and Consultant Physician Dr. S. Maniwanan participated at the session which saw around 20 medical officers participating.

Immunity is described as one of the most important features of a successful pregnancy for a perfect outcome. The doctors discussed the value of green leaves, fish, fresh fruits and vegetables and their vital role in improving immunity. The role of immune boosters, use of extracted colostrum capsules to enhance immunity plus the consumption of natural vegetables, fruits and fish, were key discussion points at the event. The need of an awareness building campaign on proper cooking avoiding the loss of nutrients was also conversed.

MARKSS Healthcare Director Medical Dr. S. Mahakalanda commented, "This discussion had certain important outcomes.