Business and Economics
Dankotuwa Porcelain Manufactures Customized Steam Inhalers fit for use at Homes and Healthcare Establishments

Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelain tableware introduced the all new customized steam inhaler which is ideal for individuals affected by respiratory tract infections including COVID-19. Designed and advised by Dr. Charith Nanayakkara, this modified steam inhaling device will be made available at hospitals and quarantine centers currently providing medical care for patients affected by the Coronavirus Disease (COVID-19 )   .  The Dankotwa steam inhaler is also easy to use and can be utilized at homes for prevention of multiple respiratory tract related conditions. It is also noteworthy that this product is a modified version of the existing steam apparatus called the Nissen Steamer which is considered outdated but is currently being used by hospitals.

Dankotuwa Porcelain PLC, a subsidiary of Ambeon Holdings PLC commenced its commercial operations in 1984. From superior glazing technologies, personalized designs and endless options, the company continues to create timeless and modern collection of porcelain-ware that expresses exclusive dining experience for every occasion.

MyHealth Mobile App launched

Ministry of Health, Nutrition and Indigenous Medicine together with the Information and Communication Technology Agency (ICTA) of Sri Lanka, the apex ICT institution in the country has developed an application to inform, engage and react to the deadly spread of the New Coronavirus also known as Covid-19 under the instructions of his excellency the President Gotabaya Rajapaksa. This is in the wake of a global pandemic reaching the shores of Sri Lanka and with the steadily rising number of infected citizens, the need for a robust mobile application was felt.

Representatives from both organizations including volunteers from the private sector worked tirelessly to ensure that through this app citizens will have access to a news feed that shares verified information on the current MyHealth Sri Lanka mobile app populated by data shared by medical authorities.

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LOLC concludes US$603mn sale of PRASAC amidst turbulent global economic conditions

In January this year, the LOLC Group announced of their agreement to sell it’s 70% stake held in Cambodia’s largest Microfinance Company, PRASAC, to the world’s sixth largest Commercial Bank and Korea’s biggest Commercial Bank, Kookmin for US$ 603Mn, a Rs. 120Bn in local currency terms.

Sealing the deal, LOLC confirms that both parties had received the necessary approvals from their respective regulators in both countries, the National Bank of Cambodia (NBC) and The Financial Services Commission (FSC) of Korea to conclude the transaction and the first tranche of US$ 422 Mn was received by LOLC International Pvt Ltd recently. The balance of US$ 181 Mn will be due in 2022 and the post transaction value of PRASAC is valued at US$ 862Mn.

Resulting from the PRASAC sale, the balance sheet of LOLC will strengthen further providing tremendous capacity and stability for the next level of growth that the Group envisages. The stronger balance sheet of LOLC will also provide the necessary impetus for the local financial services companies such as LOLC Finance PLC, LOLC Development Finance PLC and Commercial Leasing & Finance PLC to grow their businesses further.

This transaction is a significant milestone not only for LOLC but also for Sri Lanka, especially as the nation is facing challenging times. For the LOLC Group, the value that this investment has created portrays its long-term vision and proactive business strategy.

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