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MoneyBeyondJUNE 2018 | VOL 05

Know What You

Want Two Critical New Laws You Should Understand The Implications of

The Value of Education

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W elcome to our latest edition of Beyond Money, a magazine dedicated to you, our valued Premier customers. Through Beyond

Money, we strive to highlight the wonderful moments and experiences you have shared with us during the past year, and the many more we can look forward to.

In this issue, we want to offer you a glimpse of what is in store throughout the year for our esteemed Premier customers. From evaluating and resetting your life goals, to many credit card offers around the world, we know what you need and are always on hand to offer you the best of the best. We also look at the value of education, and the contribution and investments parents make in their children’s future.

An overview of two major policy reforms in recent times is also discussed in this issue to help you gain some perspective on the macroeconomic situation in Sri Lanka.

At HSBC, we focus on giving you the best you deserve so you can enjoy life to the fullest, while we take care of your banking needs. While thanking you for being a part of the HSBC journey, as always, we are committed to enhancing your experience with HSBC Premier.

AT HSBC, WE FOCUS ON GIVING YOU THE BEST YOU DESERVE SO YOU CAN ENJOY LIFE TO THE FULLEST, WHILE WE TAKE CARE OF YOUR BANKING NEEDS.

Dear Premier Customer

Publisher HSBC Sri Lanka.

For more information on HSBC products and services, please feel free

to contact us.

• Call +94 11 4 4722 72 • Click www.hsbcpremier.lk • Visit your nearest HSBC branch. • Email patriciathananayagam@hsbc.com.lk

This publication is for private circulation to Premier Customers of HSBC

Sri Lanka (”HSBC”), and may not be redistributed, reproduced, copied

or published, in whole or in part, for any purpose.

The opinions, statements and information contained in this publication are

based on available data deemed to be reliable. HSBC does not warrant

the accuracy, completeness or fairness of such opinions, statements

and information and reliance thereon shall not give rise to any claim

whatsoever against HSBC. © Copyright.

HSBC Sri Lanka 2017. All rights reserved.

Creative concept by Capital Media

MoneyBeyond

Nadeesha Senaratne

Country Head of Retail Banking and

Wealth Management

nadeesha.senaratne@hsbc.com.lk

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Know What You Want

PREMIER BANKING

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How HSBC Premier can be part of your evaluating and resetting

life goals

Savvy portfolio managers know a reevaluation of investment themes is in order as an economy moves from one phase to another in a cycle. Altering economic phases isn’t the only

determinant but anything, as substantially, that alters an investment thesis is reason for action.As any other Sri Lanka’s economy is exposed to cycles including rich country monetary policy, commodity prices and wars & geopolitical tensions. The rate of change in Sri Lanka’s economy has also accelerated in the last few years as the country begins its acceleration up the middle-income league table. The impact of these global and local economic cycles on personal wealth, business opportunity and lifestyle are often underappreciated. Wherever life’s journey takes you in 2018, its important to be financially prepared. HSBC Premier equips you with the tools to adapt to the changes underfoot so you can have more time for the things that you enjoy. Here’s how we can help you…

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Premier customers are among the most privileged in any city or country with access to International HSBC Premier Centres worldwide. Travel, for work or leisure, takes you away from support systems like friends, family and familiarity with how things are done. An emergency, like loosing a credit card or a travel document, is disturbing without HSBC Premier. Support includes emergency cash withdrawals up to $2,000 and emergency card replacement within 36 hours. Premier customers can also enjoy free international transfers between your own accounts on-the-go via HSBC’s Online Banking service, as well as preferential foreign exchange rates and free withdrawals from HSBC ATMs worldwide. All this combines to ensure seamless international banking services, including global recognition and world-spanning travel offers.

International Banking:

▶ Access to International Premier Centres as your HSBC Premier

status is valid in all countries ▶ Privileged access to over 400

HSBC Premier Centres around the world with free international withdrawals from over 6,000 HSBC ATMs worldwide

▶ Emergency cash withdrawals up

to $2,000 ▶ Global view & Global Transfer

- Free international transfers between your own accounts (subject to meeting the eligibility to maintain overseas accounts)

▶ Online Banking via the HSBC Mobile Banking app ▶ Preferential Foreign Exchange

Rates

▶ Emergency card replacement within 36 hours

An outstanding feature of the HSBC Premier proposition is the dedicated Relationship Manager assigned to each client who puts together a picture of your entire financial life to create a bespoke strategy. Your Relationship Manager can be reached via his or her mobile, or by calling our 24x7 hotline through Premier centres locally and overseas.

Struggles to prioritise personal investment plans to ensure they alter economic themes are universal in the face of professional and personal demands on time. This is where investment managers, astute professionals who help with your day-to-day banking, can step in. Their assistance to manage financial affairs frees up critical bandwidth for clients to focus on important activity like spending time realigning their investment portfolios to take advantage of these trends.

HSBC Premier customers can also access online banking services through HSBC”s Mobile Banking app. Customers can enjoy preferential rates for investment and borrowing, and preferential tariffs.

PREMIER BANKING

Premier

Everyday Banking:

▶ Dedicated relationship manager ▶ HSBC Premier Visa Platinum

Debit Card and free ATM with-drawals island-wide

▶ Secured Mobile Banking through touch ID authentication ▶ Standby credit facilities at preferential rates for emergencies ▶ Personal Instalment Loan of up to 20 times the salary within 48

hours

Another specialised offering is the HSBC Premier Junior Account. Junior Account holders receive an HSBC Premier Debit Card at 12 years and a supplementary Credit Card at 16 years, with advantages like airport lounge access and access to HSBC’s Online Banking app.

▶ Free HSBC Premier Debit Card at 12 years

▶ Free supplementary Credit Card at 16 years (to be used for educa-tion purposes only)

▶ Complimentary airport lounge access

▶ Online Banking via the HSBC Mobile Banking app

With HSBC Premier, you’re in good hands

HSBC Premier opens doors for you no matter where you travel

HSBC Premier Junior Account for children

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shows, culinary affairs, golf

tournaments and wildlife tours.

Locally, Premier customers

enjoy year-round dining and

holiday offers.

Credit Cards:

▶ Exclusive offers with your HSBC Premier Credit Card both locally and overseas

▶ Cardholder Dines Free at a restau-rant from Cinnamon Grand and Cinnamon Lakeside each month

▶ Airport lounge access to over 850 + lounges worldwide with LoungeKey

▶ WiFi access at over 62 million hotspots worldwide with iPass

▶ Free airport drop or pickup with Casons Rent-a- Car

▶ Home & Away privileges world-wide

▶ Free travel insurance ▶ Around-the- clock HSBC Premier Concierge Services ▶ Highest earn rate on Rewards and Air Miles on your overseas spend ▶ Emergency card replacement within 24 hours

Visit our new flagship Premier Centre on Flower Road or book an appointment to find out more on how we can enhance your personal economy.Call: 94 11 4 4722 72 www.hsbcpremier.lk

HSBC Premier credit card offers

customers exclusive benefits, such as

around-the-clock Concierge Services,

as well as the highest earn rate on

Rewards and Air Miles on local and

overseas spend.

Exclusive lifestyle features that

HSBC Premier Credit Cardholders

enjoy include two complimentary

lounge access at Araliya Lounge at BIA

and access to over 850 airport lounges

worldwide, and access to exclusive

and bespoke events such as fashion

Your journey is just as important as your destination

A privilege programme that lets you enjoyan array of fabulous benefits around theworld with HSBC Premier Credit Cards.

Free when you purchaseyour airline ticket.

Book your airline ticket andenjoy a free ride

Call 011 4472233 for bookings.

10% o� on all bookings

Earn Air Miles / Reward Points on all your spends and redeem instantly.

Access to over 850 airport loungesworldwide at USD27 per person, per visit.

Enjoy complimentary, premium, global Wi-Fi and stay connected.

With HSBC Premier, sharing is more rewarding than ever.Introduce your friends to HSBC Premier and earn exclusive benefits.

It is a truly pleasant experience to share something good with someone else. With truly personalizedbanking and an extensive range of services, HSBC Premier is certainly one of those good things.Introduce your friends, colleagues and associates to the HSBC Premier experience and earnup to 75,000 Rewards Points for successful referrals.

For more information, please visit www.hsbc.lk/premiermgm or call your Relationship Manager.

115,000 Reward points Reward points for your first successful referral 2 25,000

for your second successful referralReward points 3 35,000 for your third successful referral

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Premier Privileges

PREMIER PRIVILEGES

At HSBC Premier, we focus on providing personal support for your personal economy. As a part of this focus, we are glad to introduce to you some of the privileges your HSBC Premier Credit Card brings you throughout 2018.

Visit www.hsbc.lk for more details

Changi Airport, SingaporeUp to 20% savings at participating outlets in Terminals 1, 2 and 3 (transit and public areas) 1 January – 31 December 2018

Sentosa, SingaporeUp to 20% savings at participating attractions, dining outlets, hotels and spas1 January – 31 December 2018

Global Health & Travel (medical tourism)15% savings on medical packagesUntil 31 January 2020

Hertz10% savings on car rentalsComplimentary Hertz Gold Plus RewardsUntil 31 December 2018

Rentalcars.com5% savings on car rentals in Asia Pacific7% savings on car rentals in India onlyUntil 30 June 2018

Cardholder Dines FreeEnjoy five-star cuisine with family and friends at Cinnamon Grand or Cinnamon Lakeside

Free Airport Transfer with CarsonsA free ride to or from the airport (up to 40km) when you purchase an airline ticket using your Mastercard

iPassEnjoy complimentary, premium, global Wi-Fi and stay connected wherever you go by registering with iPass

AgodaUp to 10% savings on more than 180,000 hotels worldwide, ,with instant confirmation and best rate guaranteed

MyUS.comFree Premium MembershipUntil 31 July 2018

Ministry of Villas (MOV)A 10% saving on Ministry of Villas bookings when you pay with your HSBC Premier Mastercard

LoungekeyComplimentary membership to the LoungeKey programme, which provides access to over 850 airport lounges worldwide

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A survey commissioned by HSBC across 15 countries confirms that their children’s education is a top financial priority for families, but many are unprepared for the challenge

EDUCATION

Spending GapEducation Expenditure as a % of GDP by income country groups 2010

Country/Group Public spending on education (% of GDP)

Sri Lanka(a) 1.86

Low-income country group 4.16

Lower-middle income country group 4.26

Upper-middle income country group 4.88

High-income country group 5.59

Note: (a) it remains around 2.5 if all public allocation, directly through the Ministry of Education as well as through other ministries are taken into account. Source: World Development indicators online Database and Ministry of Finance, Sri Lanka

Funding their children’s education is a top priority for parents around the world, with 87% helping fund

their child’s education, according to statistics. This includes paying for school/university tuition fees, books, uniforms, transport and accommodation, in addition to making personal sacrifices, including cutting back on hobbies or reducing leisure activities.

A recent study commissioned by HSBC collected the opinions of 8,481 parents from 15 countries and territories from around the world, including Australia, Canada, China, Egypt, France, Hong Kong, India, Indonesia, Malaysia, Mexico, Singapore, Taiwan, the UAE, the UK and the US. “In nine of the 15 countries surveyed, paying for their child’s education is most likely to be parents’ biggest financial commitment, above others like mortgage, rent or household bills,” said HSBC Group’s CEO of Retail Banking and Wealth Management Charlie Nunn. When it comes to investing in a child’s education, parents in Hong Kong spend the most, over $130,000 on average, from primary school all the way through to university. Next is the UAE, where parents spend almost $100,000 on average, followed by Singaporeans at $70,000.

The Value of Education

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MORI for the study commissioned by HSBC in 2017, parents favoured their children in undergraduate studies that lead to jobs likemedicine (13%), business management and finance (11%), and engineering (10%). The study interviewed a cross section of families in each of the 15 countries and was not limited to middle-class or high-income households.

The study found that, while parents are willing to support their children to help them get ahead in their careers, many are not planning ahead by saving to meet the significant costs associated with their child’s continuing education. Typically, tuition fees for a two-year postgraduate degree in engineering can be $26,400 in the UAE, $21,000 in the US and $19,700 in Australia.

Parental spend on education varies between countries due to costs. In some countries, free or subsidised education, sometimes all the way to undergraduate level, improves its affordability. How much Sri Lankan parents spend on their children’s higher education varies depending on the family’s economic status, where they live and the parents’ education level. However, Sri Lanka’s undergraduate study options often don’t meet the aspirations of middle-class families, and private or not-for-profit primary and secondary education are also preferred by the middle class.

A study by World Education News and Review observed that many Sri Lankan youth viewed migration or international schooling as an opportunity to enhance their employment prospects. It observed that Sri Lanka’s tertiary-level student population is quite mobile – in part because higher education in Sri Lanka has insufficient capacity to address student demand, especially at undergraduate level.

According to a 2013 University World News report, Sri Lanka’s 15 state universities admit 23,000 students annually, of the 220,000 who sit the university entrance (A/L) examination every year. That same year, some 12,000 Sri Lankan students reportedly sought university education abroad.

Independent data about the education spend by middle-class families are unavailable. However, in Sri Lanka, over 45% of a household’s education budget is spent on private education, according to the State of the Economy 2017 report compiled by the Institute of Policy Studies. Even when schooling is free, families spend on extra academic coaching.

Given the amount they are spending, it’s no surprise that parents have a firm view on how that money should be spent. In the countries surveyed by Ipsos

Given the amount they are spending, it’s no surprise that parents have

that money should be spent. In the countries surveyed by Ipsos MORI for the study commissioned by HSBC in 2017

Source: Ipsos MORI via HSBC Global

Global 44,221

Hong Kong 132,161

UAE 99,378

Singapore 70,939

USA 58,464

Taiwan 56,424

China 42,892

Australia 36,402

Malaysia 25,479

UK 24,862

Mexico 22,812

Canada 22,602

India 18,909

Indonesia 18,422

Egypt 16,863

France 16,708

Country average parental spend on their child’s education (USD)

It further discovered that, “nearly three-quarters of parents (74%) are using their day-to-day income to help fund their child’s education, while nearly a quarter (22%) admit that they don’t know how much is contributed each year. Many parents are making or have made financial sacrifices as well, including reducing their spend on leisure activities (40%), working longer hours (21%), contributing

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Disclaimer: Please note that the above article is for information purposes only. Any comments or statements made herein do not necessarily reflect the view of the Hong Kong and Shanghai Banking Corporation, Sri Lanka. Although great care is taken to ensure accuracy of information, HSBC cannot be held responsible for any decision made on the basis of the information cited here.

Call your Relationship Manager or Premier Call Centre on +94 11 4 4722 72 for any overseas account opening needs.

EDUCATION

Practical steps for parents

Practical steps for students

Consider the benefitsof university educationabroad: It can help yourchildren to be independent and enhance their jobprospects.

Be realistic about the costs: Make sure to plan for all the implications including higher tuition fees, international travel, accommodation, day-to-day expenditure and exchange rate fluctuations.

Start planning early:Early planning and saving for education can help your children fulfil their potential and limit the strain on family finances. Seeking professional advice can help you plan and make better informed choices.

If buying propertyabroad: Choose amortgage plan that is most suitable for your needs. Consider the interest rate, repayment period, setting- up fees, early repayment flexibility, cancellation fees, tax and foreign exchange implications.

less to their own long-term savings or investments (20%) or taking on a second job (18%) to help fund their child’s education. Additionally, 82% of parents are ready to make personal sacrifices for their child to succeed.”

HSBC Group’s CEO of Retail Banking and Wealth Management Charlie Nunn said, “While parents recognise that educating a child can be expensive, it’s easy to underestimate the full and long-term costs. Internationally, many parents are not planning ahead, leaving them in danger of neglecting other priorities to help their child reach their full potential. In 9 of the 15 countries surveyed, paying for their child’s education is

most likely to be a parent’s biggest financial commitment, above others like mortgage/rent payments and household bills.”

“To limit the strain that children’s education can have on family finances, it’s important to plan and save ahead. Seeking professional advise can help parents make more informed choices and develop a longer-term financial plan.” Understanding the importance of education, HSBC provides a range of banking and supporting services to help you plan ahead for your children’s education no matter their study destination. HSBC’s Premier Junior children’s savings account will help facilitate overseas account opening for

Sri Lankan students traveling for their higher education and give parents the peace of mind. Let us take care of your banking needs so you can focus on what’s important – a good education for your children.

Learn about your newcountry, its culture andcustoms before you go.Sign up to classes ortraining your universitymay offer to help younavigate your newsurroundings.

Speak to recent graduates who studied aboard, their first-hand experience can help you adapt quicker.

Explore your new country and be open to making new friends.

Get involved in campus activities beyond academics, taking advantage of the many clubs, sports, interest groups and social eventsto mix with the diverse student population.

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in Colombo re-opens after extensive renovation

relationship managers with their everyday banking needs. The Premier Centre has been modified with the latest look and feel of HSBC Premier globally to offer a more personalized banking experience and features an extensive space with a ‘digital corner’ and plenty of comfort within, to offer convenient, hassle-free and exclusive banking at all times.

The exclusive Premier Centre is also certified compliant with ISO14001:2004, one of the world’s most stringent environmental management Systems (EMS) in 2009, and was declared open as the first Green Office within HSBC’s local network.

HSBC’s flagship Premier Centre, strategically located at No 31, Flower Road, Colombo 7, was re-opened after a full renovation by Betty Miao, Head of Retail Banking & Wealth Management International, Asia Pacific, and Mark Prothero, CEO of HSBC Sri Lanka and the Maldives.

HSBC Premier is our flagship global brand that facilitates banking under three pillars - everyday banking, international banking services and the HSBC Premier MasterCard that doubles up as an everyday financial tool and gateway to infinite opportunities. The newly refurbished facility will serve Premier customers through dedicated

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CriticalTwo

NEW LAWS YOU SHOULD UNDERSTAND THE IMPLICATIONS OF

The tax code and foreign exchange transactions law were updated in 2017. Here are how these changes will impact businesses and people

POLICY

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1A new Act to free some types of foreign exchange transactions creates opportunities for businesses and individuals The Foreign Exchange Act of November 2017 replaced the Exchange Control Act introduced 64 year ago to further liberalise capital flows, and simplify processes associated with current account transactions and various types of foreign currency/Rupee accounts.

The following provisions are covered in the new Foreign Exchange Act:

Listed companies are able to invest up to $2 million, or the equivalent in any Central Bank-designated foreign currency in shares, units, debt securities or sovereign bonds overseas. For unlisted companies, the investment is restricted to $500,000, and $300,000 for partnerships and $200,000 for individuals.

The new legislation has lifted many of the old law’s restrictions on current

transactions. All payments in connection to foreign trade and other current businesses including services, payments for interest of loans and moderate remittances for family living overseas have been liberalised

Dual citizens and individuals with permanent resident visas in other countries are able to obtain loans from local commercial banks to buy, build or renovate a residential property in Sri Lanka.

The Rupee's internationalisation

Sri Lanka replaced two critical laws impacting businesses and individuals, which analysts say aligns the country’s legislation with global best practices

of doing business here. The Inland Revenue Act, which administers direct taxes, and the law relating to foreign exchange-related transactions, the new Foreign Exchange Act were both introduced in 2017, replacing older legislation. Boosting economic growth with higher productivity and new investment is not beyond the realm of possibility of tax and foreign exchange management reform. Amending the old laws could not have achieved the major changes now legislated, according to analysts. Here are the high-level impacts of the tax code and foreign exchange management legal overhaul.

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The new Inland Revenue Act, with a revised and simplified income tax code to suit the current times, will come to effect from

the 1st of April 2018. It is expected to improve tax administration and boost the direct tax component in government revenue. Sri Lanka’s state of development, its low share of direct taxation and its ageing population are paradoxes. Usually, nations with ageing populations generate enough government revenue to pay for social security and have high per capita incomes. Sri Lanka’s indirect taxes (like VAT and some import duty) are at good levels, relative to the economy’s size. However, as a share of total revenue, direct taxes are 18%, lower than the 34% levels in India and Bangladesh, and way off the charts compared to the 70% share in Malaysia and Singapore. The government’s aim is to raise the share of direct taxation to 40% of revenue by growing the income tax share fast, following the simplification of the code, introducing new taxes and increasing rates on others.

A rule-based system The new Inland Revenue Act, which

is now law since being approved by parliament, institutes a rule-based system for income tax administration. The previous discretion of the political process has been removed by the tax reform. The Act has also simplified the language, making the new legislation user friendly.

Broadening the tax base In 2014, Sri Lanka’s tax income was the equivalent of 11.4% of GDP, one of the lowest rates in the world and only comparable to poor countries in sub-Saharan Africa. Experts have said that tax avoidance and evasion are partly to blame for the poor collection. Under a simplified income tax regime, tax exemptions have been limited and the base broadened. Exemptions have been either been streamlined or withdrawn under the new Act. The new Act has re-classified the sources of income into four categories, employment, business, investment and other income, versus nine categories in the old legislation.

Rationalising the existing tax structure Re-introduced Capital Gains Tax (CGT) The Capital Gains Tax on investments

POLICY

Tax code overhaul

has been re-introduced at 10%. Notably, listed equity has been exempted from CGT. CGT will be applicable whenever an asset is sold, transferred, exchanged or a right of an asset is terminated, redeemed, expired or surrendered, and even in some cases, the gifting of an asset. Applicable tax rates for dividends and the interest rate has been increased from 10% to 14%. The definition of dividends is revised to include share repurchases and capital reductions. Withholding Tax expandedThe scope of withholding tax, which is deducted at source and applied to income like dividends, interest and payments to non-residents, has been expanded. Some of the main changes include changes to the rates, widening the definition of dividends and new conditions for exemption of foreign dividends.

Several thresholds in personal taxationResidents will be taxed on all income, regardless of its source, including foreign income earned and brought into Sri Lanka. In the new Act, the four income sources (employment, business, investment and other income versus nine categories in

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UPCOMING EVENTS IN 2018

the old legislation) would no longer be computed together. Under the new Act, an individual’s income (other than gains from the realisation of investment assets, terminal benefits and business income from betting and gaming, liquor or tobacco) will be taxed after the deduction of any applicable relief at the progressive rates (4-24%) for each succeeding Rs600,000.

Business TaxThe three-tiered tax structure continues for businesses, with a 28% standard rate. Liquor, tobacco and betting/gambling related businesses would be taxed at 40%, whereas SMEs, exporters, agriculture, educational services, tourism promotion and IT-related services would be taxed at a concessionary 14%.

Employment TaxThe tax applicable on employment income slabs have been revised up to a maximum progressive rate of 24%. The tax-free threshold is Rs100,000 monthly, with the increase in PAYE to Rs1.2 million from Rs750,000 annually. Senior citizens will be entitled to annual relief of up to Rs1,500,000 in respect of interest income. Self-employed individuals including independent professionals will be taxed up to a maximum progressive rate of 24% subject to relief of Rs500,000 for each Y/A. (A resident individual with income earned in foreign currency in Sri Lanka, from any service rendered in or outside Sri Lanka, to be utilized outside Sri Lanka, will be entitled to relief of Rs15,000,000 for each Y/A, up to the total of such income for the year).

Enhanced Depreciation Allowance The tax law sets out the rules on asset depreciation. For taxation, depreciation is referred to as Capital Allowances. Enhanced capital allowances have been provided based on higher cost depreciable assets and the increase in employment. Incentives for activities qualifying for concession in the export sector have been widened. In addition, businesses engaged in renewable energy, investments in state-owned businesses and locating regional headquarters to Sri Lanka have been offered incentives. However, incentives are restricted to new business.

Talk show with world-renowned culinary personality Nigella Lawson - 23 June 2018For details speak to your Relationship Manger or call 4472233

Safari Tour to Yala with Nigella Lawson - 21-22 June 2018For details speak to your Relationship Manger or call 4472233

HSBC Premier Golf Tournament - 14-15 September 2018

Colombo Fashion WeekMarch 2018

Disclaimer: Please note that the above article is for information purposes only. Any comments or statements made herein do not necessarily reflect the view of the Hong Kong and Shanghai Banking Corporation, Sri Lanka. Although great care is taken to ensure accuracy of information, HSBC cannot be held responsible for any decision made on the basis of the information cited here. S

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THE PREMIER EVENT GALLERY

Sri Lanka juniors emerged champions of the inaugural HSBC International Junior Golf Championship, which concluded at the RCGC. The championship was contested by three countries: Pakistan, Bangladesh and hosts Sri Lanka. The Sri Lankan juniors team, led by Januka Dilshan, comprised Vinod Weerasinghe, Armand Flamer Caldera, T. Akash, Kayla Perera and Tanya Minel Balasuriya, who came out victorious by securing four and a half points to overcome

Premier Junior champs at HSBC International Junior Golf Championship

the Pakistan juniors in the final.The Pakistan pair comprising Ahmed

Baig and Saqib emerged winners of SLGU golf team championship. Ahmed Baig came out on top in the Gold Division (15-18 years), while Damila Ataulla also of Pakistan won the Silver Division (14-12 years). The Gold/Silver Combined Division (Girls) saw Tanya Minel Balasuriya of Sri Lanka coming on top, with Nirekh Tejwani and Reshan Algama both of Sri Lanka taking the Bronze (10-11

years) and Copper (Under 9) divisions, respectively. Meanwhile, the winners of the HSBC Premier Category were Gold Division (Boys/Girls) Premier Junior winner (15-18 years) Vihan de Alwis, Silver (Boys/Girls) Premier (12-14 years) Kayla Perera, Bronze Junior Premier (10-11 years) Nirekh Tejwani, and Copper Division Premier (Under 9 years) Reshan Algama. The best overall Premier Junior Golfer was Armand Flamer Caldera of Sri Lanka.

Two lucky HSBC Premier customers, together with their companions, recently attended the 59th Annual GRAMMY Awards in LA.

Ranil De Silva and Shalika Samayadasa got the chance to experience a once-in-a-lifetime opportunity, with complimentary VIP tickets to an awe-inspiring Grammy night at the Staples Centre in Los Angeles.

A night at the Grammy’s

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Cinnamon Life, in association with HSBC Premier, hosted an evening with world-renowned wildlife photographers and authors Jonathon and Angela Scott. The event was organised to bring together wildlife enthusiasts to celebrate the launch of Jonathan’s highly anticipated autobiography ‘The Big Cat Man’.

The Big Cat Man has been described in reviews as a love story: one man’s infatuation with Africa and his unfailing devotion to the woman who shares his passion. Jonathan’s writing brings readers into the thrilling life he leads, exploring the world’s most spectacular wilderness areas, and learning more about its flora and fauna.

HSBC Premier customers who are avid

An evening with Jonathan and Angela Scott

nature lovers and wildlife enthusiasts got the opportunity to dine with the renowned personalities, as well as a complimentary copy of the book ‘The Big Cat Man’.

Jonathan Scott was born in London in 1949 and has lived in Kenya since 1977. He holds a BSc (Hons.) in Zoology from the Queen’s University of Belfast, Northern Ireland, and in 1987, he was selected as the overall winner in the highly prestigious Wildlife Photographer of the Year competition. Jonathan is also a renowned television personality who has presented numerous wildlife programmes for leading global channels like BBC and Animal Planet. Angela Scott, who was born in Alexandria, Egypt, in 1953, spent

her childhood in Dar es Salaam, Tanzania. In 2002, she also secured the Wildlife Photographer of the Year award, making Jonathan and Angela the only couple in the world to have bagged the awards as individuals. The multi-award winning couple tied the knot in 1992 in the Masai Mara Game Reserve, Kenya, where they own a permanent base. The duo has shared an extremely prolific partnership, travelling the world and embarking on countless adventures, as well as collecting material for their wildlife publications. Their profoundly striking images have appeared in books and magazines across the globe, including world famous publications like National Geographic, BBC Wildlife, Digital Photography, Outdoor Photographer and Traveller.

The first series of the long-running nature documentary series, Big Cat Diary, featured the wild cats that Jonathan and Angela had spent years meticulously observing and photographing. In 2009, the couple were enrolled in the Canon Ambassadors Programme, in recognition of their world-class photography, and in 2010, they went on to become members of the SanDisk Extreme Team. When they aren’t busy filming or working on projects, Jonathan and Angela enjoy leading small groups of fellow travellers and enthusiasts to wildlife havens around the world, from Africa all the way to the frozen icescapes of Antarctica. Sri Lanka, India, Bhutan and the Galapagos Islands are some of their favourite safari and photography workshop destinations.

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Justin beat world number one Dustin Johnson by two strokes in a thrilling finale at the Sheshan Golf Club in Shanghai recently. Former US Open Winner Rose, who started the concluding day joint fourth, fired a five-under 67 to finish 14 under par 274 and somehow emerge victorious. Dustin Johnson gave up a six stroke lead to finish as runner-up with

Henrik Stenson and Brooks Koekpa. Premier golfers Viran Perera and Shiraz Akbarally, who won the recent HSBC Premier Golf Tournament at the Shangri-La Hambantota Golf Resort and Spa, were able to witness the game first-hand. Speaking of their experience upon their return, they said “It was an amazing experience to see the world’s best golfers

at the HSBC WGC. The team in Shanghai did an excellent job in making all the arrangements and the competition itself was brilliantly organised.” The HSBC Premier Golf Tournament 2018 will be held on 14-15 September at the Nuwaraeliya Golf Club. Two lucky winners will get a chance to experience the WGC HSBC Champions in China.

Justin Rose wins WGC HSBC Champions 2017 in Shanghai

World No 1 Dustin Johnson

Shiraz with Jason Day

THE PREMIER EVENT GALLERY

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OFFERS

At HSBC, we strive to provide the best in class service to all our customers. As a valued customer, we invite you to participate in our Customer Experience Survey and let us know your thoughts on your experience in banking with us.

To better understand your needs, we have engaged the services of an independent research agency, The Nielsen Company Lanka (Pvt) Ltd., to conduct a short telephone interview to obtain your feedback on our service.

Your feedback is invaluable to us and we would greatly appreciate your participation in the research.

Your Opinion Matters!

If you don’t want to be contacted for the above survey, please contact your Relationship Manager:

CLICK: www.hsbc.lk/Customer-survey

Type <CES> and SMS to 4774

anushapinnapola@hsbc.com.lk

Nearest branch

Should you have any concerns on the quality of service or simply wish to give feedback, please feel free to contact us via www.hsbc.lk/Listening-to-you

Customer Insights ManagerMarketing Department P. O. Box 73, Colombo

SMS:

E-MAIL:

POST:

VISIT:

Selected customers will be contacted via telephone from May 2018 to February 2019, 9:00am and 6:00pm from Monday to Saturday. The interview will last for about 10 minutes. During the survey, the agency will ask for your opinion on the service you receive at HSBC. The call may be recorded for training and quality assurance purposes. You can be assured that we have not shared your personal financial information such as account details, account balances etc. with the research agency. You are also not required to share such information during the course of the interview.

Cinnamon Lodge Habarana, Hikka Tranz by Cinnamon, Cinnamon Bey Beruwala, Cinnamon Citadel Kandy,Habarana Village by CinnamonCardholder stays free from 1 June – 15 July 2018

Marriot Resort – Weligama Bay50% off from 1 July – 31 August 2018

Elephant Corridor - Sigiriya30% off from 1 April – 31 July 2018

20% discount on all Amarapali Jewellery at the Trunk Store located at Cinnamon Grand, Colombo1 June - 31 August 2018

For details and terms and conditions visit www.hsbc.lk/premierprivileges

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