Business
Twinery, Innovations by MAS recognised as one of region’s most influential innovators
By Steve A. Morrell
MAS Holdings Chairman, Mahesh Amalean said recently that it was a proud moment for his company when their Twinery product won the Clarivate award for excellence.
He said so addressing the media on a virtual meeting platform. “Technology and innovation that developed the product which was the ultimate result of team work and distinct attention to detail. MAS holdings Twinery was one of 28 products that achieved this distinction and the first to be awarded worldwide acclaim in the apparel sector,” he said.
“Distinction achieved was also that the product was a national achievement, with the ‘Made in Sri Lanka’ tag adding prestige to the country of origin,” he said.
Elaborating on the prestige of the award, Sales Director,- IP Group- South Asia & South East Asia, Rajat Kumar Sikka. addressing the media said, the IP group’s tradition spanned over 150 years. Within this time span it lent recognition to products originated from other countries as well. Innovative ideas emerging from such origins were evaluated for innovation and originality. He confirmed that the Twinery product from MAS holdings was outstanding in its quality and texture, and the Clarivate award identified the MAS product to be outstanding and a leading product of the brand. Intellectual Property Rights for the MAS product was an indelible stamp of excellence recognized for the Clarivate award; that too its competing texture was recognised to ensure the brand was the result of research to maximise its value”.
Chief Innovation Officer, MAS holdings, Ranil Vitarana, commenting on intellectual property rights said the advantage of such identification was that the product could not be duplicated by another manufacturer for another 10- 20 years. He also said the advantage was that the product achieved such exclusivity coupled with its brand prestige, was that the manufacturer could charge an extra shelf price during its rights period”.
“Smaller companies are within the vortex of violating such property rights, and tend to renegade on such strictures. To prevent such action the property rights were protected legally. Additionally, prices for such products were not subject to controls that could be enforced during the period enforced”.
Expanding on the product, Twinery, was an innovation that came into being since 2014, to help women manage and support physical changes through the company’s FEMTECH pillar. That being to support women during physical changes that become unavoidable during the period of menopause. To help them cope with these changes the silky fabric made of a mixture of yarn and light weight material accents coolness against the skin absorbing heat to ensure comfort during the transitional period experienced by women during this time.
The team of innovators at MAS, included a group of some 45 persons who were also a number of women who were part of their team. Additionally, a group of about 5 young persons were also part of the team, the difference was that they did not have any academic qualifications.
Responding to a query from the media, Mahesh Amalean, confirmed that success of the product was the advantage of team work. “Product innovation was continuous and did not bear an ultimate end. Progress is a factor that does not register an end. Given the excellence of the product, MAS products are recognized on retail shelves and are an inevitable product sought after by customers”, he said.
Also present at the press conference were, Director Corporate Affairs, MAS Holdings, Rajitha Jayasuriya, and CEO MAS Holdings, Suren Fernando.
Author
- News Advertiesment
See Kapruka’s top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka’s unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.
Author
-
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
Author
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.
Author
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.
