Business
Dialog Axiata Group to invest USD 152.4 million in Sri Lanka
Dialog Axiata Group, the largest Foreign Direct Investor (FDI) operating under the aegis of the Board of Investment of Sri Lanka (BOI), announced the entering into of two supplementary agreements with the BOI for the investment of an additional sum of USD 152.4 Mn (LKR 56.7 Bn) in Sri Lanka’s Telecommunications and ICT Infrastructure on September 13, 2022.
The investment comprises of USD 112.8Mn from Dialog Axiata PLC and USD 39.6Mn from its subsidiary Dialog Broadband Networks (Private) Limited.
These agreements span a broad scope of telecommunications and ICT infrastructure development by the Dialog Axiata Group, encompassing the expansions of mobile and fixed 4G-LTE networks to provide rural and deep-indoor coverage, enhancement of big-data analytics and customer interaction capabilities, the evolution of IP and fibre networks, and the further development of the Group’s Wi-Fi and broadband networks. It is envisaged that these developments will offer more reliable and cost-effective internet connectivity, and significantly contribute to propelling the nation’s mobile telephony and fixed infrastructure to the forefront of innovation accelerating Sri Lanka into a digital nation.
The respective supplementary agreements between Dialog Axiata PLC and Dialog Broadband Networks (Private) Limited and the BOI were signed by Raja Edirisuriya, Chairman, Board of Investment of Sri Lanka, Supun Weerasinghe, Group Chief Executive/Director, Dialog Axiata PLC and Ms. Viranthi Attygalle, Group Company Secretary, Dialog Axiata PLC, in the presence of Tan Sri Shahril Ridza Ridzuan, Chairman, Independent Non-Executive Director of Axiata Group Berhad, Dr Hans Wijayasuriya, Joint Acting Group Chief Executive Officer, CEO – Telecommunications Business/Group Executive Vice President, Axiata Group Berhad, and Ms. Renuka M. Weerakone, Director General, Board of Investment of Sri Lanka.
Dialog Axiata Group is a subsidiary group of companies of Axiata Group Berhad, Asia’s second largest Telco with operations spanning across 8 countries including Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Singapore and India, and Axiata has been a committed and long-term investor in Sri Lanka since the inception of Dialog.
Dialog is Sri Lanka’s largest Foreign Direct Investor (FDI) with cumulative investments totalling USD 3.1 billion. In this regard, it has been recognized by BOI as the first company to invest USD 1Bn in the country.
“Dialog Axiata has been instrumental in progressing our nation towards becoming a formidable next-generation digital infrastructure champion in a global setting. As the largest foreign investor in the country, Axiata has been a consistent and key enabler of this journey, even amid uncertainties. We are pleased to see the continued investments and unwavering commitment by the company which exemplifies the innumerable opportunities available in Sri Lanka to foreign investors who believe in and are willing to invest in the nation with a focus of capturing long-term value,” said Mr. Raja Edirisuriya, Chairman, BOI.
Commenting, Tan Sri Shahril Ridza Ridzuan, Chairman, Independent Non-Executive Director of Axiata Group Berhad said, “As the largest FDI in Sri Lanka, this latest investment agreement bears testimony to Axiata’s continued confidence in the nation and our commitment to Sri Lanka and its people. We consider Sri Lanka to be one of the key innovation hubs, where Dialog has achieved many region firsts, staying true to its ethos of delivering ‘The Future. Today.’ As always, we greatly value our long-standing partnership with the Board of Investment and remain committed to investing in Sri Lanka to accelerate the country into a Digital Nation.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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