Channa de Silva

SL unit trust industry crosses key milestones, gains traction Amidst the declining interest rates and entrance of new funds, Sri Lanka’s unit trust industry has continued to gain traction this year. The number of unit trust holders surpassed 100,000 and the total net asset value (NAV) crossed Rs.500 billion at end-April this year.  According to the Unit Trust Association of Sri Lanka, the number of unit trust holders rose to 103,107 at end-April this year, compared to 74,686 unit trust holders a year ago. Simultaneously, the NAV of unit trusts rose by 178.41 percent year-on-year to Rs.505.98 billion in the period.  At end-April, the open-ended NDB Wealth Money Fund was by far the largest unit trust, with 21,418 unit trust holders and an NAV of Rs.217.27 billion.  In terms of NAV, CAL Investment Grade Fund was the second largest unit trust, with Rs.51 billion assets under its management. In terms of number of holders, Softlogic Money Market Fund was the second largest unit trust, with 15,640 unit trust holders.  In 2023, the Securities and Exchange Commission (SEC) approved six unit trust schemes, including one close-ended scheme, which is required to list its units on the Colombo Stock Exchange. According to the SEC, the number of units issued more than doubled to 13,371,000 units in 2023, compared to 6,283,000 in 2022. Out of Rs.407.74 billion assets in 2023, Rs.315.23 billion was invested in Treasury bills, compared to Rs.88.8 in 2022, Rs.18.5 billion in equities, up from Rs.11.86 in 2022 and the remaining Rs.70.17 billion was invested in other instruments (commercial papers, trust certificates, debentures, bank deposits, etc). However, the SEC noted that the SEC is yet to receive any applications from managing companies for exchange-traded funds (ETFs) and umbrella schemes, under the recently introduced Collective Investments Code 2022 (CIS Code) framework. In the year, the SEC conducted on-site inspections of selected unit trust managing companies, based on a risk-based approach. #mutualfunds #SriLanka #unittrusts #equties #CapitalAlliance #NDB #Softlogic #CSE #capitalmarkets https://lnkd.in/dUkYrBAp

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Sri Lanka’s listed companies’ net profits for 2024 can go beyond Rs. 660 billion, the highest the country has recorded so far, with positive economic sentiments, Almas Holdings Group Chairperson Imtiaz Buhardeen said. #CSE #SriLanka Colombo Stock Exchange https://lnkd.in/gyEv8-QK

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Business Agility Tune Up In conversation with Ishari Siriwardane on #BusinessAgility and #AgileLeadership. Watch full video https://lnkd.in/g_SbFbmg

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Insightful words from Chief Executive Officer, Mr. Lasitha Wimalaratne, leading HNB Assurance PLC, one of Sri Lanka’s fastest-growing life insurance companies. His vision and leadership continue to drive our commitment to innovation, growth, and exceptional service in the industry. #Tryonics #HNBAssrance #digitaltransformation #digitisation #Anniversary #Leadership #LifeInsurance #Growth #HNBA #tryonicssolutions #insuranceindustry #smartadvisorsolution #DAT #smartagent #digitaladvisortoolkit

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🇳🇵 **Digital Nepal: Bridging Mountains with Technology** 🚀 Transforming Connectivity in the Himalayan Landscape **Our Digital Transformation Vision** 🌐 **Strategic Pillars:** • Nationwide Digital Infrastructure • Inclusive Technological Access • Empowering Remote Communities **Government's Commitment** **Key Focus Areas:** - 📡 Satellite Internet Expansion - 💻 Digital Governance Platforms - 🤝 Public-Private Partnerships - 🌍 Global Technology Integration **Why This Matters:** **Empowerment Through Technology** - Breaking Geographic Barriers - Connecting Rural Entrepreneurs - Enabling Digital Education - Transforming Healthcare Access **Technological Roadmap** - Modernizing Communication Networks - Supporting Mountain Communities - Creating Digital Opportunities - Driving Economic Innovation **Our Mission:** From Kathmandu's tech hubs to the highest Himalayan villages, we're building a connected, empowered Nepal. 💪 **Challenges Become Opportunities** #DigitalNepal #TechRevolution #Connectivity #HimalayanInnovation

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The Central Bank of Sri Lanka expects close to 100% participation in the international sovereign bond (ISB) exchange which is expected to be completed by mid-December, Central Bank Governor Dr. P Nandalal Weerasinghe Weerasinghe said. #SriLanka #ISB #bondholders https://lnkd.in/gMTsrkzy

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If you come you will come to know 90/90/1 , 60/10, 80/20, 80/20 power three and toady Sri Lankans spend an average of 4.5 hours per day on their smartphones. This data highlights the growing dependence on mobile devices for communication, entertainment, and work-related tasks​ (DataReportal – Global Digital Insights)​​ (DataReportal – Global Digital Insights)​. Formulating a good habit typically takes about 66 days, according to research. This process can be broken down into three distinct phases, each lasting approximately 22 days: First 22 Days: The Honeymoon Phase Excitement and Motivation: During the initial phase, enthusiasm and motivation are high. The novelty of the new habit drives consistent efforts. Building a Routine: Establishing a regular time and place for the new habit helps to integrate it into your daily routine. Challenges: Initial challenges and resistance to change may occur, but motivation helps to overcome these hurdles. Second 22 Days: The Fight Through Phase Overcoming Obstacles: Motivation may wane, and the initial excitement fades. This is the most critical phase, as many people give up during this period. Consistency is Key: Persistence and consistency become crucial. Strategies such as setting reminders, seeking support from friends or mentors, and focusing on small, incremental progress can help. Mental Resistance: Overcoming mental resistance and sticking to the habit despite lower motivation is essential. Reflecting on the benefits and long-term goals can provide the necessary drive. Third 22 Days: The Automation Phase Forming a Pattern: By now, the habit starts to become more automatic. The effort required to maintain the habit decreases as it becomes part of your routine. Reinforcement: Positive reinforcement and rewards for maintaining the habit can strengthen its integration into your lifestyle. Long-term Integration: The habit becomes more ingrained, and the likelihood of continuing it without conscious effort increases. Reflecting on the progress and benefits can reinforce the desire to maintain the habit. Sources Journal of Environmental Psychology: Research indicates it takes an average of 66 days to form a new habit​ (DataReportal – Global Digital Insights)​​ (DataReportal – Global Digital Insights)​. Psychological Insights: These phases align with psychological theories on habit formation, emphasizing the importance of consistency and overcoming initial resistance​ (DataReportal – Global Digital Insights)​​ (DataReportal – Global Digital Insights)​. By understanding these phases and employing strategies to navigate them, you can increase your chances of successfully forming and maintaining a new habit.

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Nepal's technology landscape is rapidly evolving, and awareness is at an all-time high. This is evident in the increasing adoption of digital solutions by individuals and businesses alike. From e-commerce and online education to digital payments and social media, technology is becoming ingrained in our daily lives. This digital transformation presents a wealth of opportunities for Nepal to accelerate its economic growth and improve the quality of life for its citizens. Let's harness this momentum and continue to foster a culture of innovation, collaboration, and learning. Together, we can build a digitally empowered Nepal that thrives in the 21st century. #NepalTech #DigitalNepal #Innovation

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The Ministry of Finance has released detailed terms of reference for the position of Commissioner of Reform, who will head the newly established Economic Reform Office. Read more: https://lnkd.in/gNji8aHg

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In a country like Nepal, where the digital space is evolving slowly, businesses must look for ways to stay competitive in a fast-paced global market. Sales is the most important function in every business where business now requires a lot of automation and digitization so as to ensure they compete better with reliable pricing. To solve the problem BizHub Consulting Service Pvt. Ltd has introduced revolutionary application BizForce360 - Field Sales App that aims to enhance overall productivity of sales team. This product not only targets the sales employee, equally its useful for tracking the field employee for any AUDIT firms, Consulting Business, Engineering consulting firms that gives the clear visibility of employees deployment 🌐 Streamlined Processes: BizForce 360 automates repetitive tasks, giving sales teams more time to focus on building strong client relationships, Order and delivery tracking, payment collection, GPS location and tracking. 📊 Data-Driven Insights: Even with limited digital infrastructure, Bizforce 360 provide real-time insights into customer behavior and sales performance, enabling better decision-making. 💡 Improved Efficiency: Whether you're a startup or an established enterprise, BizForce 360 helps reduce manual errors, enhances productivity, and optimizes resource allocation. As Nepal’s digital transformation continues to evolve, now is the time for businesses to embrace technology like SFA to drive growth and stay ahead in an increasingly competitive landscape. I would like to express my sincere regards to all the team members to make this happen. Ssajan Panchariya, Sujan Pokhrel, Rishi Ram Chalise, CA. Subash Poudel, Laxman Adhikari, Jayendra Dhungel, Sirish Sigdel, Barsha Chand, Kundan Giri, Mamata Gurung, Aastha Poudel, Dikshant Shahi, Srijana Neupane, Tilak Joshi, Aditya Gautam, Rajan Gaihre, Kritika Adhikari, Trigya Thapa #SalesForceAutomation #DigitalTransformation #Nepal #BusinessGrowth #Efficiency

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MoU Signing Ceremony with Titas Gas Transmission and Distribution Company PLC. Now upay customers can pay titas metered and non-metered bill from their upay account.

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Sri Lanka’s PMI for Manufacturing and Services 🇱🇰 1/2 Sri Lanka's PMI for manufacturing recorded a value of 55.5 in August 2024, down from 59.5 reported in July 2024. Despite the decline, the index indicates continued expansion in manufacturing activities, albeit at a slower pace compared to the previous month. food and beverage sector boosted new orders and production, but employment declined and suppliers’ delivery times lengthened. https://lnkd.in/ghKbdGrq

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Targeted stimulus an option to push economic growth: SLBA Chief Sri Lanka may need to consider a targeted stimulus package to boost growth in productivity sectors upon completion of the on-going debt restructuring exercise, Sri Lanka Banks’ Association Chief said. SLBA Chairman and Standard Chartered Sri Lanka Chief Executive Officer Bingumal Thewarathanthri asserted that it remains critical for Sri Lanka to at least achieve an economic growth of 4-5 percent beyond IMF’s forecasted 3 percent over the next few years.  “The real challenge is whether the IMF forecasted growth of 3 percent is enough or should we look at 4-5 percent growth? We need to seriously look at where growth is coming from and we might have to look at a targeted stimulus. I am not talking about giving incentives to everybody, but targeted incentives for growth sectors would be critical. That’s a negotiation we have to undertake,” he said. Thewarathanthri made these observations addressing a panel discussion under the theme ‘Sustaining Stability’ organised by Central Bank last Thursday. “It’s something for policymakers to sit and understand where we can stimulate a little bit and let the growth come. This would be critical for any government,” he added. #SriLanka #stimulus #economicgrowth #braindrain #taxation https://lnkd.in/dCwQESMb

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Corporate Lessons from the Recent Sri Lankan Presidential Election 🇱🇰 The recent election offered more than just political insights. There are valuable corporate lessons that businesses can take away: 1. Adaptability to Change: Both political candidates and businesses need to be agile, pivoting to meet evolving expectations and market trends. 2. Clear Communication: Strong, consistent messaging is key in building trust. Companies, like candidates, should focus on transparency and alignment with their core values. 3. Understanding the Customer Base: Just as candidates address voter needs, businesses must personalize offerings and deeply understand their audience for better engagement and loyalty. 4. Leveraging Data: Data-driven decision-making provides insights and foresight. In both politics and business, analyzing trends and preferences is crucial for strategic success. 5. Leadership Matters: Decisive and visionary leadership drives both political and corporate success. A strong leader rallies teams and inspires confidence. 6. Crisis Management: Elections and business environments often face crises. Quick thinking, clear communication, and foresight are necessary for minimizing negative impact. 7. Embrace Technology: Technology played a critical role in political campaigns. Businesses must also stay ahead with tech innovations to remain competitive. 8. Building Trust: Consistency and transparency are essential for trust, whether with voters or customers. Long-term relationships are built on a track record of reliability. 9. Long-Term Vision: Focusing on short-term wins is important, but having a long-term strategy sets the foundation for sustainable growth. The election serves as a reminder that agility, leadership, and a long-term vision are critical for any organization's success. #Leadership #CorporateLessons #Agility #Communication #DataDriven #Technology #Trust #CrisisManagement #LongTermVision #SriLanka

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Thanks IFC for supporting NBI in designing and delivering the program.

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