Hatch appoints Dilhan Fernando as Chairman

Lankapuvath | Colombo | 13-08-2024 |
Photo Caption- Jeevan Gnanam, Co-founder and CTO of Hatch welcoming Dilhan Fernando as Chairman

Hatch has officially announced the appointment of Dilhan Fernando as their new Chairman, marking a significant milestone for the organization. Dilhan, who is also the Chairman, CEO, and Executive Director of Dilmah Tea, brings a wealth of experience and a strong commitment to sustainability and innovation, which have been instrumental in maintaining Dilmah's leadership in the global tea industry.

Under Dilhan's guidance, Dilmah has not only excelled in growing a globally renowned high-quality tea brand but has also prioritized social and environmental initiatives through the MJF Charitable Foundation and Dilmah Conservation. His dedication to community welfare and environmental stewardship reflects a deep-rooted commitment to making a positive impact beyond business.

Jeevan Gnanam, Co-founder and CTO of Hatch, expressed enthusiasm about Dilhan's appointment, stating, “Dilhan brings years of experience of supporting the human spirit, and we are excited to have him on board, dawning a new era of purpose-driven entrepreneurship to enable Sri Lanka to rise to its economic challenges through entrepreneurship.” This sentiment underscores Hatch's vision of fostering innovation and entrepreneurship in Sri Lanka, aligning perfectly with Dilhan's values and experience.

Dilhan Fernando's appointment is expected to guide Hatch as it navigates the complexities of the current economic landscape, emphasizing the importance of purpose and community engagement in driving sustainable growth. His appointment is seen as a strategic move to enhance Hatch's mission and expand its impact within the entrepreneurial ecosystem of Sri Lanka.

About Hatch

Hatch is an award-winning Sri Lankan co-working space, start-up incubator and accelerator. Founded by Jeevan Gnanam and Brinda Selvadurai-Gnanam in 2018. Hatch operates physical co-working spaces in both Colombo and Jaffna and are on a mission to make innovation and entrepreneurship more accessible, sustainable, and inclusive to reflect the diversity we see in the world.

Hatch firmly believes in the role of entrepreneurs as drivers of economic progress and acknowledges the force of collaboration in sparking innovation. Hatch’s comprehensive approach supports startups extensively through meticulously designed programs, robust mentorship, and the facilitation of connections within local and global networks comprising partners, investors, and contributors.

Starting with just 28 start-ups, in five years, Hatch has supported over 700 start-ups. Of these, 33% of the founders are women-led or focused businesses. Hatch envisions an economy fueled by purpose-driven innovators and is on a mission to develop a thriving startup ecosystem to firmly set Sri Lanka as a startup nation.

Adani Group's Digital Strategy:
Expanding Adani One Beyond Travel

Lankapuvath | Colombo | 13-08-2024 |
India’s Adani Group is reworking its digital strategy that includes bolstering online payment through partnerships as Gautam Adani’s conglomerate looks to make its superapp an essential part of people’s lives.

Adani One, with a user base of 30 million as of March 31, will widen its offerings to be more than just a travel app, Jeet Adani, the younger son of the billionaire-patriarch who is overseeing the group’s digital plans, told Bloomberg Television as part of a special series, Inside Adani.

The platform was rolled out in December 2022, mostly for booking flights, hotels and services at the seven airports operated by the conglomerate. “We reviewed the entire Adani One strategy and plan to work with partners in segments from financial services to ecommerce,” Jeet said in an interview. “This will help us reach hundreds of millions of end users.”

The tweaks by the 26-year-old scion of the media-to-mining conglomerate reflect the founders’ acknowledgment that the target of luring 500 million users by 2030 — a 16-fold jump from the current base.

The youngest of four Adani heirs being groomed to take over the $206 billion empire as part of a unique succession plan, Jeet is looking after the group’s fledgling unlisted businesses. All of them are housed in the flagship Adani Enterprises Ltd., which is known to incubate new units before they are spun off and listed.

The group is also exploring growing its digital network overseas particularly in South Asia, Eastern Africa, and Southeast Asia, Jeet said.

Ensuring the Data You Share Stays Private with Samsung Data Protection

Lankapuvath | Colombo | 13-08-2024 |

Samsung Electronics, the leading smartphone brand in Sri Lanka, recently upgraded its advanced privacy and security features on its Galaxy devices. These new features, Private Sharing and Enhanced Data Protection, are designed to provide users with the highest level of data security and privacy, ensuring that sensitive information remains safe and secure.

As concerns over data privacy and ownership become increasingly prevalent, Samsung is committed to protecting users' information in a world where digital communication is integral to daily life. These innovative features reflect Samsung's dedication to providing cutting-edge solutions that prioritize user privacy and data protection.

In today's digital age, sharing personal photos and videos can be a daunting task due to privacy concerns. Samsung Galaxy’s Quick Share feature offers a robust solution with Private Sharing, a function designed to give users complete control over their shared content. With Private Sharing, users can maintain ownership of their data, ensuring only designated recipients can access shared files. They can set permissions and expiration dates for shared files, restricting access after a specific period. Furthermore, users can provide read-only access, revoke access at any time, and restrict screenshotting. The feature also allows monitoring when recipients receive and open files.

Private Sharing leverages blockchain-based encryption to secure up to 20 files at a time, with a total size of up to 200MB, ensuring that all data is fully encrypted during transfer. To use Private Sharing, users need to select the file to be shared, tap the Share icon, choose Quick Share, and then select Turn on Private Sharing. Once the file is sent, users can adjust the expiration date or revoke sharing permissions if needed. This feature alleviates worries about misfired private photos or files and ensures that information remains secure and within the user’s control.

The risk of data breaches and server attacks can cause significant concern for users. Samsung’s Enhanced Data Protection offers peace of mind by securing data with end-to-end encryption (E2EE). Starting with the Galaxy S24, this feature ensures that data backed up to the Samsung Cloud is encrypted on the device and can only be decrypted by the user. Enhanced Data Protection ensures that data is encrypted and decrypted solely on the user’s device, remaining invisible to anyone else, including Samsung. Users are prompted to write down a recovery code to prevent data loss in case of device loss. To activate Enhanced Data Protection, users need to open the Samsung Cloud app, tap the three dots for more options, choose Settings, and select Enhanced Data Protection. They can then choose to encrypt backup or synced data. Alternatively, they can go to Security and Privacy in the device Settings to find this feature.

Samsung, recognized as Sri Lanka's 'People's Youth Choice Brand of the Year' for the fifth consecutive year by SLIM Sri Lanka, continues to lead in delivering innovative solutions that cater to the needs of Gen Z and Millennial consumers. The company remains steadfast in its commitment to providing users with unparalleled privacy and security features. By implementing Private Sharing and Enhanced Data Protection, Samsung ensures that users can safely share their data without compromising their privacy.

These features not only address the growing concerns over data security but also set a new standard for privacy protection in the industry. Samsung's innovative approach reinforces its dedication to safeguarding user information and enhancing the overall digital experience.

Samsung Electronics is a global leader in technology, dedicated to creating innovative solutions that enhance the lives of consumers. With a commitment to privacy, security, and customer satisfaction, Samsung continues to push the boundaries of what is possible in the tech industry.

Siyapatha Finance PLC debenture issue oversubscribed

Lankapuvath | Colombo | 10-06-2024 |


Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a prominent leader in Sri Lanka's non-banking financial sector, announces the resounding success of its recent debenture issuance, which received an overwhelming response from investors, meeting and surpassing all expectations.

The highly anticipated initial public offering of Siyapatha Finance PLC's debenture issuance, officially opened for subscription on 28th May, 2024 and closed on the same day , due to the remarkably positive investor sentiment from the market. The initial tranche of Rs. 2 billion and subsequent tranches of Rs. 1 billion each were oversubscribed in record time, reflecting positive investor sentiment and confidence in Siyapatha Finance PLC's financial stability and growth prospects. The company received an exceptional number of applications over Rs. 4 billion, indicative of the strong demand for Siyapatha Finance PLC's offerings.

Commenting on the oversubscription of the issue, Mr. Ananda Seneviratne, Managing Director of Siyapatha Finance PLC, stated, “This overwhelming demand reaffirms our commitment to delivering value to our stakeholders and driving sustainable growth. We are immensely pleased by the enthusiastic response to our debenture issuance, which emphasizes the trust and confidence that investors place in Siyapatha Finance PLC.”

The proceeds from the issuance of listed, rated, senior, unsecured, redeemable debentures valued at Rs. 100 per unit with a five-year tenure, will be directed towards funding the Siyapatha Finance PLC’s budgeted lending portfolio. These debentures, carrying a fixed interest rate of 13.20% per annum (AER 13.20%), will be officially listed on the Colombo Stock Exchange after the allotment. The basis for allotment adhered to the specifications outlined in the prospectus, ensuring fairness and transparency in the distribution of debentures among investors.

First Capital Ltd spearheaded the management of the debenture issue, with esteemed partners including Hatton National Bank PLC as Trustee, Sampath Bank PLC as Banker, SSP Corporate Services Private Ltd as Registrar, Nithya Partners as Legal Counsel, Ernst & Young as Reporting Accountants, and KPMG as Company Auditors. Fitch Ratings Lanka Limited provided credit rating services, further validating Siyapatha Finance PLC's strong financial standing as a trusted name in Sri Lanka’s financial sector.

India’s Adani Energy Solutions plans to raise $1.5bn for expansion

Lankapuvath | Colombo | 05-06-2024 |


Adani Energy Solutions (AESL), part of Indian conglomerate the Adani Group, has announced its intention to raise $1.50bn for expanding its business.

The company aims to raise the money through qualified institutional placement or another permissible mode, in one or more tranches. The fundraising effort is contingent upon approvals including the consent of company members at the Annual General Meeting on 25 June 2024.

AESL, a key player in India's power transmission sector, has set ambitious targets to establish 30,000 circuit kilometres (ckm) of transmission lines by 2030. The company's distribution arm, Adani Electricity Mumbai Limited, is the largest private-sector power distribution utility in India, meeting a 2GW power demand in Mumbai, Maharashtra.

The company has also ventured into the smart metering business to enhance the operational and financial efficiency of distribution companies.

Leveraging its expertise in Mumbai and Mundra, AESL seeks to transition from a service provider to an integrated solution platform.

It has acquired a 100% stake in Essar Transco, valued at $227.5m, in an expansion of its transmission capabilities.

The deal includes a 400kV, 673ckm interstate transmission line linking Mahan in the state of Madhya Pradesh to the Sipat pooling substation in the state of Chhattisgarh.

In May 2024 AESL secured a 20-year power purchase agreement with Sri Lanka, following approval in February 2023 to invest $442m in the construction of wind projects with a combined capacity of 484MW.

HP Introduces Smart Tank Printers for Home Users and Micro Businesses

Lankapuvath | Colombo | 05-06-2024 |


HP recently unveiled a new range of Smart Tank printers tailored to meet the everyday printing needs of home users, micro, and small businesses. In today's hybrid world, there is a growing demand for printing solutions that are both affordable and user-friendly yet equipped with smart printing solutions.

To support emerging entrepreneurs and businesses, HP Smart Tank printers offer an enhanced user experience through intuitive and seamless setup procedures, smart features, and enhanced connectivity options. These include self-healing Wi-Fi® capabilities and enhanced mobility facilitated by the Smart App and Smart Advance features. HP’s new ink tank printers are engineered to deliver uninterrupted printing with a pre-filled ink supply, capable of producing up to 6,000 black pages or up to 6,000 color pages. The printers are powered by new sensor-based Ink Tank technology that alerts the user before the ink runs out. Select models within the range provide users with the added convenience of duplex printing, enabling them to print on both sides of the page.

Sunish Raghavan, Senior Director of Printing Systems at HP India, Sri Lanka, and
Bangladesh said, “Micro, small, and medium enterprises are actively seeking solutions that can give them a competitive advantage. One of the primary challenges faced by entrepreneurs is the dilemma of selecting the right printer – it needs to be easy to use, connect seamlessly, and occupy minimal space. Additionally, speed, reliability, and affordability are paramount for meeting their daily printing needs. HP's Smart Tank printer range is meticulously crafted to address all these concerns, offering a hassle-free, smarter, and more connected experience to small businesses, entrepreneurs, and individuals with high printing demands."

Key Benefits
The Smart Tank printers enhance the user experience with easy installation and everyday usability for printing, copying, scanning, or faxing, thanks to smart-guided buttons and the best-in-class HP print app. They simplify processes with features like the ID copy button, which automatically detects and prints IDs. Equipped with the latest technology, these printers include integrated ink tanks, low-on-ink sensors, paper sensors, and self-healing Wi-Fi® for reliable connections at home or in small offices. Additionally, HP Wolf Essential Security protects sensitive information, catering to the needs of families working and learning from home.

Affordability
It is engineered for high-volume printing needs, The Smart Tank range delivers cost-effective color and mono-printing. It has a capacity of up to 6,000 black or up to 6,000 color pages of ink bottles in the box with low cost per page. It can be purchased with a 1-year standard warranty and an additional 1-year extended warranty on select Smart Tank printer range.

Sustainably designed
The Smart Tank printers are sustainably made, incorporating 45% post-consumer recycled content and earning both EPEAT Silver and Energy Star certifications for their environmental efficiency. They feature energy-saving Auto On/Off technology, which operates without any additional effort from users. Designed to minimize waste, these printers come with no-waste tanks and spill-free, recyclable bottles. Additionally, their advanced ink management system, equipped with ink sensors, ensures easy monitoring and maintenance of ink levels.

The available SKUs for the Smart Tank series include the HP Smart Tank 210 Printer, the HP Smart Tank 520 All-in-One Printer, the HP Smart Tank 530 Wireless All-in-One Printer, the HP Smart Tank 580 Wireless All-in-One Printer, the HP Smart Tank 670 All-in-One Printer, and the HP Smart Tank 750 All-in-One Printer.

The New Smart Tank range starts at a price of 55000 LKR. For more information about HP Smart Tank Portfolio of printers and availability, please contact VS One Pvt. Ltd. (HP authorized distributor) and Accell Technologies (reseller).

About HP
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.

The National Environmental Caucus Stresses on the Importance of Renewable Energy

Lankapuvath | Colombo | 05-06-2024 |


The National Environmental Caucus, led by Ven. Pahiyangala Ananda Sagara Thero, recently handed over a report to the Chairman of the Sri Lanka Sustainable Energy Authority (SLSEA).

In this report, they emphasize that Sri Lanka, endowed with plentiful sunlight, biomass, wind, and hydro resources, possesses significant potential for generating renewable power. The country's geographic location provides a unique opportunity to harness these natural resources for energy. However, the renewable energy sector faces significant challenges, including a lack of new technologies, insufficient establishment of new projects, and unstable finances. These issues are compounded by the nation’s recent and ongoing electrical power outages, which have further strained the economy.

To address these challenges and foster investment in new renewable energy projects, relevant authorities must develop constructive strategies, sound plans, new laws and regulations, and unique incentives. These measures will encourage consumers to transition to renewable energy and stimulate growth in the sector.

In this report, they also point out that, despite the clear benefits, certain groups with vested interests have sought to obstruct and delay renewable energy projects, citing various justifications. The National Environmental Caucus stands firmly in support of promoting and advancing renewable energy initiatives. They are also committed to encouraging and supporting local investments, recognising the importance of foreign direct investments, especially in light of Sri Lanka’s current financial crisis.

A case in point is the proposed 500 MW wind project between Mannar and Pooneryn. This project has encountered opposition from several parties for a variety of reasons. The National Environmental Caucus organization believes that this project should move forward, provided that all necessary precautions are taken to mitigate its environmental impact.