CSR

Lanka IOC in CSR drive to help cancer patients

Lanka IOC PLC sponsored the recent ‘Sri Lankan Master Minds Quiz’ which is conducted by the Moratuwa - Ratmalana Lions Club every year to bring out the hidden talents from various segments of society. Proceeds from this project will be utilised to provide medicine to help needy patients at the Cancer Hospital, Maharagama.

“We're happy to join hands with the Moratuwa - Ratmalana Lions Club and sponsor events of this nature. In our own small way, we're confident we can raise sufficient funds to purchase medicine for these less privileged cancer patients and thereby ease their financial burden”, said Lanka IOC PLC's Managing Director, K.R. Suresh Kumar.

The “Sri Lankan Master Minds Quiz” contest was held at the end of last month with the participation of 44 teams from banking and financial institutions, the mercantile sector, individual groups, schools and educational institutions. The team from Royal College Colombo emerged the Champions of Sri Lankan Master Minds 2011/2012.

Taking responsibility for the impact of its activities - directly or indirectly - on the environment, Lanka IOC PLC also addressed the issue of Global Warming by encouraging, educating and engaging 1500 school children from 72 schools in the “GO GREEN” project.

Conducted in co-ordination with the Environment and Natural Resources Ministry and the Education Department, this was Lanka IOC PLC's first CSR project and took place over 2010 and 2011, covering most parts of Sri Lanka.

The “GO GREEN” project was well received by the selected school children who were given the ownership of the sapling which they planted. They were entrusted with the responsibility of caring for the sapling until such time the plant could withstand any damage, for which they will be compensated by the sponsors, Lanka IOC PLC for a period of three years.

UPS close to buying Dutch rival: report

United Parcel Service is close to concluding a 5.2-billion-euro ($6.8 billion) deal to acquire Dutch rival TNT Express NV and thus create a dominant package-shipping company in Europe, The Wall Street Journal reported late Sunday.

Citing informed sources, the newspaper said UPS planned to pay 9.50 euros a share for TNT Express, an increase from its prior offer of nine euros per share.

UPS originally offered to pay 8.25 euros a share after it first approached the company late last year, the report said.

The two sides have informally agreed on a deal and have no substantial outstanding points to negotiate, the paper said. They were expected to reach a formal agreement Sunday night and announce it Monday.

AFP