Fin in brief

Deputy Chairman Alex Lovell, Director Ajith Wijeysekera and Chairman Ajita de Zoysa at the opening of the Union Bank Wattala Branch.

Union Bank opens branch in Wattala

The 21st branch of Union Bank was opened on December 28 in Wattala, bringing the convenience of banking and a range of advanced financial solutions that will be delivered through exceptional service delivery to the residents of Wattala.

The branch was opened by Director Union Bank Ajith Wijeyesekera in the presence of Chairman Ajita de Zoysa, Deputy Chairman Alex Lovell and Director/CEO Union Bank Anil Amarasuriya. Members of the corporate management along with religious dignitaries, representatives of government authorities and invitees from the local community participated in the event. The Bank expects to open 10 new branches in the coming months, with the next branch being in Batticaloa, which will open in January 2011.

New vehicle filter launched

A Sri Lankan company has introduced a new fuel saving vehicle filter from Korea to the market.

S.S. Impex Limited recently launched this “Clean Power” filter, which it claimed reduces fuel consumption by a considerable margin and increases engine life in both petrol and diesel vehicles. It is manufactured by DAE Seung Tech Co Ltd of South Korea.

The unique advantage is that this filter is made of ceramics and an aluminium alloy, unlike many magnetic metal based filters in the market. This makes the filter light and solid. It can also withstand extreme heat for long periods. “It paves the way for a complete combustion, increasing engine power by 30 per cent and improves fuel efficiency by 10 per cent,” said S. Wijesinghe, a spokesman for the company.

The filter is also environment-friendly as it can also cut down on emissions, especially Carbon Monoxide up to 60 per cent. It is fitted about six inches away from the engine. Filters are available for all types of vehicles.

Commercial Bank’s Chief Operating Officer Ravi Dias opens the refurbished ward of the Jaffna Hospital.

Commercial Bank assists Jaffna Hospital

The Commercial Bank of Ceylon recently carried out a major CSR project in the Northern Province by assisting the Jaffna General (Teaching) Hospital, one of the most widely patronised medical facilities in the area.

The Bank contributed nearly two million rupees from its CSR Trust to tile the floor and walls of Ward 9 of the hospital which accommodates 39 beds.

“The Jaffna Hospital provides invaluable service to the people of the entire Jaffna Peninsula and deserved our corporate support. Even during the troubled times and in the face of many shortcomings and hardships, Jaffna Hospital and its staff rendered a service that was appreciated by all,” said Regional Manager - North, Commercial Bank Sri Pathmanathan Rajeevan.

New ILO Country Director

Donglin Li has taken over as the Country Director of the ILO Country Office for Sri Lanka and the Maldives from on January 1.

Donglin Li

He was previously Country Director of the ILO Office for Pakistan and has worked in Pakistan for six and half years. Li is a Chinese national.

Li holds a BSc in Chemical Engineering and Equipment from East China University for Science and Technology and an MBA from Heriot-Watt University, UK.

Prior to joining the ILO in 2002, he was Director General of the International Cooperation Department in China’s Ministry of Labour and Social Security.

In August 2010, the Government of Pakistan conferred upon him the President’s Award in recognition of his services to the people of Pakistan.

James Yamanaka appointed CEO CTC

James Yamanaka has been appointed Managing Director and CEO of Ceylon Tobacco Company (CTC) effective January 2011. James succeeds Mustanser Ali Khan who will take up the role of BAT Area Head of Supply Chain, South Asia Area (SAA).

James Yamanaka

James, a Master of Science majoring in Foreign Services from Georgetown University USA also holds a MBA from the University of London and a BA from the University of California. He has been with the BAT Group since July 2006 and was a London based strategy consultant, working primarily on projects in the mobile telecom sectors in Europe and Asia.

James said, “It is with a great sense of excitement that I take up this posting at a time when Sri Lanka is experiencing somewhat of an economic revolution. It is my sincere hope to continue and build upon the magnificent efforts of Mustanser Ali Khan who has guided CTC from strength to strength. I wish him the very best”

Mustanser assumed duties in September 2007 and has contributed significantly in growing the business.

Under Mustanser’s leadership, CTC’s reputation was further enhanced when it was voted amongst the top companies in Sri Lanka by the Business Today and LMD magazines.

CTC also received a special mention by the Chamber of Commerce and ACCA for its CSR and Reporting.

These achievements were further validated when CTC was selected as a recipient of the SAA Regional Legacy Award.