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Global Rubber
Industries (Pvt) Ltd. has partnered
with Kingslake, Sri Lanka’s manufacturing solutions experts,
to lay the foundation for its next phase of growth. By leveraging Kingslake’s
Advanced Planning and Scheduling (APS) solutions, the country’s leading
manufacturer of specialized tires hopes to make a significant contribution to
the rubber industry, a key export of the country.
For the past 150 years, Sri Lanka has been one
of the world’s most sought-after export destinations for natural rubber and
rubber-based products, having contributed $1 billion to the country’s export
revenue in 2018 alone. With a revenue target of $4.4 billion set for 2024, all
Prominent Russian business tycoon Andrey Melnichenko visited Port City Colombo today. He was accompanied by Sri Lankan-born British Politician and former EU Parliamentarian Niranjan Deva Aditya.
Melnichenko is a
self-made billionaire with major investments in Switzerland based fertilizer
giant EuroChem Group and Russia based coal energy company SUEK.
He was warmly welcomed
by Port City Colombo Assistant Managing Directors Yue Yeqing and Thulci
Aluwihare together with Director Sales and Marketing Yamuna Jayaratne.
The delegation was
briefed on Port City Colombo project, its construction progress and future
developments by Radhika Ellepola, Country Manager Sales and Investor
Relations.
Melnichenko expressed
positive remarks about the project and he was impressed about the strategic
KEY RATING DRIVERS
Mobile-Market Leader: Dialog’s Standalone Credit Profile (SCP) of ‘aaa(lka)’ is underpinned by its market leadership in the expanding mobile and pay-TV segments. We believe Dialog will continue to gain revenue market share, given its superior execution and mobile networks. The company has a solid financial profile, with consistent revenue growth, a stable operating EBITDA margin and a low Fitch-forecast 2021 FFO net leverage of 0.4x-0.5x (2020 estimate: 0.5x).
Strong Revenue Growth: Based on unaudited reported results, revenue and EBITDA rose by 3% and 6%, respectively in 2020, before the operating lease adjustment under Sri-Lankan financial reporting standard 16. Dialog’s growth outperformed the GDP contraction of 5% in the nine months ending September 2020, amid the pandemic. Dialog increased its mobile subscribers by 9% yoy, its digital TV households by 12% yoy and home broadband subscribers by 45% yoy during 2020.
Facebook has launched Instagram Lite in Sri Lanka in
order to provide access to all users, irrespective of the device, platform and
network they are on. This lightweight version of the Instagram app for Android
uses minimal data, similar to Facebook Lite.
Built using Bloks technology, Instagram Lite is
less than 2 MB in size – considerably less than the full-size version, which is
close to 30 MB. The new product is currently rolling out to over 170 countries
and available for download on Android’s Playstore. People who want to install
this new version will be able to load it quickly and experience improved
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Prime Land Residencies Ltd,
the condominium property arm of the maestro of real estate artistry in Sri
Lanka, Prime Group, recently celebrated a milestone achievement upon the
completion of its 35th property project. With 5 more projects nearing
completion and yet another 5 more awaiting launch, the completion and handing
over of 35 properties to anticipating residents has established Prime
Residencies as the benchmark condominium developer in the country.
These 35 state-of-the-art properties infused
with touches of elegant luxury and smart living are spread across the island.
The reach of Prime Residencies’ properties extend to areas such as Colombo,
Gampaha, Wattala, Rajagiriya, Uswetakeiyawa, Kiribathgoda, Thalawathugoda,