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Friday August 12th, 2022

Sri Lanka Femtech advances by MAS wins global recognition

ECONOMYNEXT – Sri Lanka’s MAS group said it had been recognized for advancements in female centric technology (FemTech) that improved women’s health and well-being, in a global innovation award given by Clarivate, a firm which tracks scientific advances and patents around the world.

Twinery, (the research and development arm of MAS) has been working hard since 2014 to help women manage and support physical changes and health concerns through our FemTech pillar,” Ranil Vitarana, Chief Innovation Officer, MAS Holdings said.

The awards are given by Clarivate, a former intellectual property and science division of Thomson Reuters, a media and data group.

Clarivate had identified MAS after tracking patents filed by thousands of firms and peer reviewed papers in scientific journals spanning several years. Firms cannot apply to get an award.

“Recognizing us at an international level gives us a lot of confidence in what we are doing,” Mahesh Amalean, Chairman, MAS Holdings.

“That is helpful to give us the energy and enthusiasm to continue to do the work we are doing.”

MAS has a portfolio of 64 patent families with 170 applications filed in the USA, UK, Europe, China, Japan and Australia.

Vitarana says 11 per cent of MAS products are new innovations but is planning to expand it to 20 per cent by 5-years.

MAS Holdings says it is apparel manufacturer to win the Clarivate award in addition to being the first Sri Lankan company to be included.

Among the top 28 who received the award this year were the National University of Singapore, The Council of Scientific and Industrial Research, India; Petronas, Malaysia; Siam Cement Group, Thailand; Indian Oil Corporation; Bharat Heavy Electricals Limited and the Welspun Group, India.

Industrial groups like India’s TATA, Mahindra & Mahindra Ltd have also won in the past.

For this year’s award 235 organizations were tracked from 2014 to 2018 and it was narrowed down to 28 including MAS.

It gets data from Derwent World Patents Index (DWPI) and Derwent Patent Citations Index (DPCI), a patent database to find innovators from academic institutions, government research organizations, corporations and emerging corporations.

Clarivate said it measured four key metrics using the data: Number of unique inventions, patent success, influence of the innovation and the globalization.

Femtech Start-UP

MAS technology was used by ‘Become’, a female-led start up focused on helping women control their menopause symptoms.

The fabric is made from a lightweight yarn that has a smooth fabric without joins and is able release and absorb heat or moisture.

‘Become’ uses a silky fabric made from a mixture of complex yarns to create lightweight material that is seamless, breathable, and cool against the skin..” explains Vitarana

The firm uses a patented ‘Anti-Flush Technology’ of MAS which absorbs heat from the surface of the skin and then releases warmth back onto the body during the chill that follows, he said.

He said FEMTECH is a 5 billion dollar market at the moment and is slated to grow to 18 billion by 2025.

MAS has also patented a next-to-skin illumination technology called ‘FIREFLY’.

Another new development backed by Twinnery is SPRYNG, a compression device that can get almost 90 per cent of the blood from the lower extremities (from hip to toes) returning to the heart, Vitarana says.

“Within 15 minutes of use, calf muscles that have been weakened due to long bouts of sitting, standing or exercise are refreshed,” Vitarana said.

In 2019, MAS has raised one million US dollars showcasing this device on KickStarter and IndieGOGO crowdfunding platforms.

“In 2019, we raised one million on KickStarter and IndieGoGo before the product was even officially launched in to the market. This product is making recovery and rejuvenation accessible to a larger audience,” Vitarana said.

Amalean says that their focus is to make at least 20 per cent of new businesses it gets to be from their new innovative products.

While MAS wants its clients to come to them to manufacture any innovative products they sell.

“Our ambition is to make our customers at least manufacture 50 per cent of their innovative products from us,” Vitarana said.

MAS also follows lean manufacturing principles.

“…We started as manufacturers of apparel and slowly as demand came through from our customers and they saw us maturing, they kept throwing challenges at us in terms of coming up with some new innovations,” Amalean said.

“Initially it was in respect to design and product innovation subsequently looking in to new materials and innovations in terms of technology so we had no choice.

“To be a relevant vendor-partner to our customers we had to invest in research and innovations, and on the other side invest in lean manufacturing.

“So on the one side looking at bringing in new products and on the other side making sure we are innovating and that we use manufacturing excellence to execute and deliver on our commitments to our customers.” (Colombo/Jan09/2021)

Comments (1)

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  1. Leslie says:

    Well done Mas. We are proud of your achievements. This just shows how a group of people could be moulded, with efficient management to be world class.

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Comments (1)

Your email address will not be published.

  1. Leslie says:

    Well done Mas. We are proud of your achievements. This just shows how a group of people could be moulded, with efficient management to be world class.

Sri Lanka cancels visa of Scotswoman who documented anti-govt protests

ECONOMYNEXT – Sri Lanka’s Department of Immigration and Emigration has cancelled the visa of Kayleigh Fraser, a Scotswoman who had been documenting the country’s anti-government protests on social media.

Immigration officers had approached Fraser at her home on August 02 and confiscated her passport.

“This is what will happen if you raise your voice against state violence in Sri Lanka,” Fraser wrote on Wednesday August 10, posting a letter ordering her to leave the country by August 15.

“I am proud to have been a part of this. I am proud to have met so many of you. I have… so many social enterprises I want to work on here that I know will benefit so many,” Fraser said on Instagram.

“Deporting me is a massive, massive mistake for this country. The love I have for it and its people appears to be a threat to the current rulers. Does that sound right to you?”

Fraser posted that she was not prepared for the financial cost of flights and relocation, and that all her funds were in Sri Lankan currency, and that banks were not allowing foreign transactions.

Police spokesperson Nihal Thalduwa had told a privately owned news organisation that Fraser was sharing “negative content” about Sri Lanka via her social media.

“It is not right for a foreign national to be in our country and share such mass negative content. She is not a media personnel either, to cover the protests and GotaGoGama,” he has said.

Fraser has been vocal about state sanctioned violence against protestors.

News of Fraser’s deportation has caused a small riot on social media, with many protestors voicing out their support for the foreigner who documented and showed support next to them.

Seemingly indiscriminate arrests of protestors aided by an ongoing State of Emergency have both angered and frightened Sri Lankan protestors, and many active protestors have gone into hiding to evade arrest.

Some protestors said they were “taking a break” or “distancing themselves” due to continued harassment.

However, the authorities maintain that all arrests are in accordance with the law. The government has pointed to acts of retaliatory mob violence on May 09 and the forced occupation of government buildings by protestors on July 09.

“They are calling us terrorists for holding placards. This was such a peaceful protest, the only terrorism carried out was by the government against the people,” said an active protestor, who preferred not to be named.

Fraser wrote that Sri Lankans should not forget that they got to the streets for a system change.

“Live in such a way that your children will thank you for the world they inherit,” she said.

“It’s not over till it’s over. I have an unbelievable amount of high profile people fighting this order for me to leave.”(Colombo/Aug11/2022)

 

 

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Sri Lanka to acquire 35,000MT of petrol; unloading on Aug 12

ECONOMYNEXT-  Sri Lanka to receive a cargo of 35,000 metric tonns of petrol on Thursday August 11 with unloading scheduled for Friday, Minister of Power & Energy Kanchana Wijesekara said.

Wijesekara tweeted that the ship will arrive at the Colombo port Thursday night, and that the payment for the cargo had been completed with the support of the Central Bank by Wednesday.

The minister had said earlier on Wednesday that a separate cargo of crude oil is also expected on Saturday August 13, and from August 19 onwards, locally produced fuel is expected to be released to the market from the Sapugaskanda refinery.

Meanwhile, in an earlier report, Lanka IOC, a local unit of the Indian Oil Corporation (OIC), said a vessel carrying 30,000 metric tons of fuel for LIOC is scheduled to arrive between August 10 and 15.

Related: Three shipments of fuel to arrive in Sri Lanka by mid, end July, August: Lanka IOC

Meanwhile, Wijesekara said that 5.7 million people have signed up for the QR-code facilitated National Fuel Pass.

From July 21 up to now, Wijesekara said, a total of 54.9 million litres of fuel had been sold through 1,053 CPC fuel stations while 207 LIOC stations have sold 11.26 million litres of fuel. (Colombo/Aug11/2022)

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MPs nominated to Sri Lanka’s parliamentary committee on public finance

The sun sets over the Parliament at Shri Jayewardenepura

ECONOMYNEXT – Sri Lanka’s parliament has appointed members to its Committee on Public Finance, Speaker Mahinda Yapa Abeywardena said.

According to his announcement made in parliament on Wednesday August 10, in terms of the provisions of the Standing Order 121 of Parliament, MPs Bandula Gunawardana,  Vidura Wickramanayaka,  Nalin Fernando,  Anura Priyadharshana Yapa,  Vijitha Herath,  Duminda Dissanayake,  Shehan Semasinghe,  Premitha Bandara Tennakoon and Harsha de Silva have been appointed.

Indika Anuruddha Herath,  Siripala Gamalath, Seetha Arambepola, Suren Raghavan,  M A Sumanthiran,   Kavinda Heshan Jayawardhana,  Mujibur Rahuman,  Harshana Rajakaruna,  Chaminda Wijesiri,  Isuru Dodangoda,  Anupa Pasqual and  (Prof) Ranjith Bandara also have been appointed to serve as members in the Committee on Public Finance.

President Ranil Wickremesinghe tabled a proposed framework during his time as Prime Minister under President Gotabaya Rajapaksa for sectoral oversight committees in parliament with the objective of increased bipartisan parliamentary involvement in governance and policy-making.

Wickremesinghe told parliament on July 06 that under such a system, the entire parliament irrespective of party difference will participate in governance.

On July 06, he said he had approached former Speaker of Parliament Karu Jayauriya to formulate a proposal on activating the sectoral oversight committees.

Sectoral Oversight Committees shall function for the duration of Parliament and conduct its inquiries notwithstanding any adjournment or prorogation of Parliament, according to the parliament website.

The Committee of Selection shall determine the subjects and functions to be allocated to each Sectoral Oversight Committee.

The Sectoral Oversight Committees shall have the power to examine any Bill, any subsidiary legislation including Regulation, Resolution, Treaty, Report or any other matter relating to subjects and functions within their jurisdiction.

The Parliament, any Committee or a Minister may refer any matter to a Sectoral Oversight Committee having jurisdiction over the subject or function for its consideration and report. (Colombo/Aug11/2022)

 

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