Author Archives: lankaioctest

Lanka IOC shines with Gold at CA Sri Lanka’s 56th Annual Report Awards

 

 

Mr Manoj Gupta, Managing Director receiving the coveted Gold Award at the grand finale of the 56th Annual Report Awards by CA Sri Lanka

 

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) accorded the “Gold Award” to the Annual Report of Lanka IOC PLC under the Power and Energy Sector for the year 2020-21 during the Grand Finale of 56th Annual Report Awards ceremony.

Annual Report awards by CA Sri Lanka are the most prestigious awards and corporate event over half a century in the country which awards the selected Corporates for their resilience and perseverance in promoting transparency, accountability, good governance, and social responsibility helping investors and other stakeholders gain better insight into the organisation’s operations and achievements.

The award was received by Lanka IOC Managing Director Mr Manoj Gupta and his team at the award ceremony held recently at the BMICH. The ceremony was held under the patronage of Viraj Dayaratne, President’s Counsel, and Chairman of the Securities and Exchange Commission of Sri Lanka, Manil Jayesinghe, President of CA Sri Lanka, Dumith Fernando, Chairman of the Colombo Stock Exchange, Sanjaya Bandara, Vice President of CA Sri Lanka, Chaaminda Kumarasiri, Chairman of the Annual Report Awards Committee; Chamila Cooray, Alternate Chair of the Annual Report Awards Committee, Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange and Dulani Fernando, Chief Executive Officer of CA Sri Lanka.

Speaking at the acceptance of the award, Mr Manoj Gupta stated that “The Annual Report Award is affirming our continuous commitment towards transparent reporting and upholding the highest standards of corporate governance. The year 2020-21 was an extraordinarily turbulent phase in the backdrop of the pandemic. Our passionate and dedicated teams; within our organization and across our value chain network stepped forward to serve with unstinted passion and dedication. Our foremost priority was to serve with a’ Nation First’ mindset. Over our 19-year journey we at LIOC have always been committed to play a pivotal role in the economic development of the country, by powering the nation through vibrant channels of distribution and a diversified range of products.”

Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting.

The recognition of Annual Report represents company’s standards in financial reporting in line with global standards, performance and prospects that lead to the value creation over the short, medium and long term beyond the statutory compliance of reporting. The award ceremony was graced by many distinguished guests from Industry across all sectors in Sri Lanka.

Lanka IOC donated 100 Samsung make new smartphones to the ministry of Education, GoSL, in support of school education.

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School education during this Pandemic times have shifted to digital mode and is heavily dependent on smart mobile phones. Underscoring, the e-learning need of school children of the society, mainly coming from lower-income group families, Lanka IOC further stepped up their commitment by way of donation of 100 Samsung make new smart phones to Ministry of Education, GoSL.

Accordingly, today Mr. Manoj Gupta, Managing Director, Lanka IOC handed over this token of donation to Honourable Minister of Education, Mr Dinesh Gunawardana at Ministry of Education, Battaramulla. Hon’ble Minister highly appreciated this responsible corporate gesture of Lanka IOC and thanked for coming forward for the care and concern for underprivileged children of society.

Mr. Manoj Gupta extended his heartfelt thanks to the Hon’ble Minister of Education for giving this noble opportunity and assured them for continued regular empathy and assistance to the best possible extent for such a virtuous cause. Further, he added that our ongoing initiatives are in line with the current need for fighting challenges of COVID-19 and we shall continue to expand our support for the community during these unprecedented challenging times.

As a part of its ongoing efforts to support the Country’s endeavour to mitigate the challenges of the Pandemic, recently Lanka IOC came forward in the distribution of very hygienic dry ration stuff to numerous families of Sri Lanka Welfare Society of the Blind Women (SLWSBW).

Lanka IOC is operating with strong fundamentals and always endeavour for connecting with society in the various CSR activities by way of unique and effective projects that add value to the society.

Lanka IOC distributs very hygienic dry ration goods to numerous ‘Sri Lanka Welfare Society of the Blind Women’ families.

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Keeping in view of the fact that during this unprecedented time of curfew, life and livelihood are important for the underprivileged section of the society. Accordingly, Lanka IOC stepped up their commitment to giving back to society through CSR activities by distributing very hygienic dry ration goods to numerous families of ‘Sri Lanka Welfare Society of the Blind Women’. The same was highly appreciated by the President of Blind Women’s society, and they thanked Lanka IOC for coming forward during this pandemic time and taking care of Blind People.

MD Lanka IOC, Mr. Manoj Gupta thanked SLWSBW for giving this noble opportunity and assured them of their continued regular empathy and assistance to the best possible extent for the noble cause.

Lanka IOC is celebrating the Year 2021 as a year of empathy and has been conducting many such programs for the upliftment of the society by way of donation to hospitals, distribution of sanitisers to police depts, etc. Lanka IOC is operating with solid fundamentals and always endeavours for connecting with society through the various CSR activities.

Lanka IOC welcomes Hon’ble Minister of Energy Mr Udaya Gammanpila at LIOC’s facilities in Trincomalee

Honoured to welcome Hon’ble Minister of Energy Mr Udaya Gammanpila at LIOC’s facilities in Trincomalee recently.
His appreciation & guidance will encourage us to enhance our efforts to further strengthen Sri Lanka’s energy security.
Hon’ble Energy Minister was briefed about Lower Tank Farm developed with LIOC’s investment as a state of the art facility.

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Lanka IOC launches Lubes Distributor Secondary Billing web based application.

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SERVO lubes has achieved highest sales volume of 14209 KL in 20-21, of which 50% of the sales is contributed by Lube Distributors. Currently Lanka IOC has 27 lube distributors across the island with monthly sales volume crossing 750 KL average. All these distributors have individual secondary billing applications, with user limitations. Moreover there was no mechanism to capture secondary lubes sales data that is the billing by distributor to end customer/retailer . In the current competitive scenario, to increase the profitability its imperative to have visibility of product movement up to end consumer. Keeping this requirement, Lanka IOC got secondary billing software developed with cloud based storage and adequate security protocols. All the 27 distributors are now LIVE on this new billing app and LIOC can monitor the secondary sales on click of a button. The new system launched will largely benefit the lubes channel partners and shall help Lanka IOC to further improve their penetration in the market.