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Basilur Tea streamlines operations with Infor CSI implemented by Kingslake

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Leading IT and Enterprise Resource Planning (ERP) experts, Kingslake announced a breakthrough partnership with globally renowned Pure Ceylon Tea brand, Basilur Tea, to streamline manufacturing operations through the implementation of the Infor CloudSuite Industrial (CSI) Quickstart solution.

Kingslake has introduced next-generation seamlessly connected manufacturing technology capable of enabling advanced, highly flexible solutions and functionality that is essential for remaining competitive in a technologically driven environment.

Kingslake will host a free webinar that will provide comprehensive insights into how Infor CloudSuite can drastically improve planning and management of people, machines, and tools across a manufacturing supply chain.

The free webinar scheduled for October 16 from 3-5 pm will also detail out how enterprises can leverage the solution to reduce lead-time in manufacturing, minimize overheads, reduce work-in-progress and finished goods inventory and ultimately increase throughput in order to achieve expanded profitability in any manufacturing enterprise.

Speaking on the potential of Infor CSI Quickstart to catalyze growth at scale among Sri Lanka’s key business sectors, Kingslake CEO, Duleep Fernando said: “Advancements in these technologies means that impactful solutions are more cost-effective and within reach of businesses of any size. For example, we offer special modular user licensed based pricing, which enables a more cost-effective approach to transforming manufacturing businesses.”

He noted that the transformations initiated by Infor CSI Quickstart would ultimately deliver greater competitive advantage through increased efficiency and agility.

Represented by Kingslake in Sri Lanka, Infor is a global leader in providing highly effective, cutting-edge business applications, which can be configured to meet the demands of a wide range of industries.

Infor CSI QuickStart – previously known as SyteLine – is a solution designed to ensure that industrial and manufacturing organizations have deeply personalized solution to meet their business-specific needs with role-based information, a personalized user experience, familiar tools, common navigation and last-mile industry capabilities that are built-in.

Basilur is a world-renowned brand of superior quality tea and herbal infusions with decades of experience producing and exporting the finest quality Ceylon tea. As the organisation has grown both in size and scope it has found it necessary to incorporate new technology that will enable it to advance its operation.

Commenting on the powerful benefits enabled through the implementation of Infor CSI Quickstart, Basilur Tea Director Operations Sumith Jayawickrama said: “Since our integrated manufacturing project came online, we have been able to significantly optimize production while staying on top of shifting market dynamics. This has allowed us to cover everything from smaller orders to large pack sizes, thereby giving us improved flexibility to simultaneously cater to the changing preferences of modern-tea consumers across the globe.”

Speaking of the advantages of Infor CSI Quickstart, Senior Project Manager, Shalika Pituwala said: “There’s no room for error in today’s highly competitive manufacturing sectors. That’s why we create and implement leading-edge digital technology that delivers solutions to simplify complex supply chains and helps businesses deliver on time, every time.”

Since its inception in 1994, Kingslake has focused on providing software to help mid-sized manufacturing companies grow. They deliver state-of-the-art solutions built with a mix of best-of-breed ERP systems, specialized software solutions and experienced dynamic consultants. Today Kingslake continues to build and deliver fit-for-purpose software that enables customers to increase the visibility of their operations, be it customer service, inventory management, planning, procurement, manufacturing, engineering, HR, transport or finance.


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Unlimited music streaming platform in Sri Lanka

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SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.

The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.

Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.

SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce

 

 

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Sri Lanka using ‘sovereign power’ over economy: CB Governor

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by Sanath Nanayakkare

Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.

“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.

“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.

“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.

“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.

The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.

The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’

Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.

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CSE on the rebound; indices close positive

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By Hiran H.Senewiratne 

CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.

 The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said. 

It is said the banking sector dominated turnover with a contribution of considerable  parcel trades in Sampath Bank, Commercial Bank  and HNB.

Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor  confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.

Further,  Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.  

Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.

In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions. 

During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.

Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.

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