Singer ranked ‘Most Respected Consumer Electronics Company’

Published : 12:00 am  August 27, 2014  |  Category: Business  |  Leave a Comment  |  222 views  |  

Singer has been adjudged the ‘Most Respected Consumer Electronics Company’ in Sri Lanka and has been placed amongst the top 15 Most Respected Entities in the country, according to the results of a survey conducted by Nielsen on behalf of LMD. Speaking to LMD, Singer Director Marketing and Commercial Mahesh Wijewardene said that it was “a great honour, because [the survey] is an independently conducted ranking which positions us among the most respected corporates in Sri Lanka.” He also emphasised the importance of benchmarks like the Most Respected Entities list in enhancing internal performance indicators. For example, Wijewardene noted that the Most Respected Entities ranking will... 


CTC ranked 9th amongst ‘Most Respected Entities’ in Sri Lanka

Published : 12:00 am  August 27, 2014  |  Category: Business  |  Leave a Comment  |  443 views  |  

Ceylon Tobacco Company (CTC) has been ranked amongst the top 10 most respected entities in Sri Lanka in the annual LMD rankings 2014. CTC was up by 14 positions from last year, ranking as the ninth most respected entity in the country. Companies were evaluated based on financial performance, quality consciousness, management profile, honesty, innovation, dynamism, corporate culture, CSR, vision and nation-mindedness. Based on the evaluation criteria, CTC was placed within top three in financial performance, corporate culture and CSR. While CTC had been ranked within the top 20 positions on three previous occasions, this is the first time the company has moved into the top 10, a reflection on... 


Sri Lanka-Korea Economic Co-operation Committee holds AGM

Published : 12:00 am  August 27, 2014  |  Category: Business  |  Leave a Comment  |  244 views  |  

The 20th Annual General Meeting of the Sri Lanka-Korea Economic Co-operation Committee of the Ceylon Chamber of Commerce was held on 7 August at the Hilton Colombo. The Council focuses on promoting investment, trade and joint ventures between Sri Lanka and Korea. Andrew The Travel Company Ltd. Chairman/Managing Director Mahen Kariyawasan was elected to continue as the President of the Council for the year 2014/2015. He mentioned that the incoming Committee would encourage more joint ventures between Sri Lanka and Korea, exchange information on trade and investment, conduct joint meetings with Korean business organisations in Sri Lanka and Korea and will serve as a recognised representative of... 


Minister Amunugama meets TPG Global office bearers

Published : 12:00 am  August 27, 2014  |  Category: Business  |  Leave a Comment  |  538 views  |  

Senior Minister for International Monetary Co-operation and the Deputy Minister of Finance and Planning Dr. Sarath Amunugama met TPG Asia Managing Partner Tim Dattles, TPG Asia Principal Gaurav Trehan, TPG India Managing Director Punit Bhatia and Union Bank Colombo PLC Chairman Alex Lovell. TPG Global, a USA-based investment holdings group, has signed an agreement to investment $ 117 million in Union Bank of Colombo PLC. TPG is a leading global private investment firm founded in 1992 with over $ 59 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Houston, Beijing, Chongqing, Hong Kong, London, Luxembourg and Melbourne, Moscow, Mumbai, New York, Paris, Sao Paulo,... 


MLIT, JASTECA discuss future collaboration

Published : 1:45 am  August 26, 2014  |  Category: Business  |  3 Comments  |  457 views  |  

Visiting Japanese Vice Minister of the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) Manabu Sakai had a meeting with senior members of the Japan-Sri Lanka Technical and Cultural Association (JASTECA), which is an associate organisation of The Overseas Human Resources and Industry Development Association (HIDA) Japan. At this meeting, opportunities for future collaboration with JASTECA and MLIT were discussed in detail. JASTECA President Athulla Edirisinghe explained to the Vice Minister the opportunities that can be made available to the Ministry through the network of alumni members of JASTECA which spans over 3,500 and have had their training in Japan especially on Japanese... 


High-level Vietnam push for Lanka investments

Published : 12:00 am  August 25, 2014  |  Category: Business  |  Leave a Comment  |  453 views  |  

 ‘Our investors want Sri Lanka; 10 Lankan projects active in Vietnam’: Deputy PM Binh Minh   Vietnam ready for agro, aquaculture as well The Government of Vietnam, while unravelling Lankan investment volumes within its borders, signalled on 22 August of its own investment push towards Sri Lanka – and coming from its high levels. “Already 10 Sri Lankan investment projects are in Vietnam. Vietnam investors and businesses too are eager to go out of the country and invest. I hope the Government of Sri Lanka would create an enabling environment for Vietnamese business and investors,” said Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh on 21 August at... 


Founder shareholder Shanker exits Browns Investments

Published : 12:00 am  August 25, 2014  |  Category: Business  |  Leave a Comment  |  990 views  |  

Founder shareholder Shanker  Somasu-nderam has exited Browns Investments Plc (BIL). Last week he sold 25 million shares and 24.7 million shares at 10 cents each. As at 30 June 2014, Shanker who also sits on BIL Board held 50 million shares as the sixth largest shareholder. BIL share price closed the June quarter at Rs. 1.60. Its Net Asset per Share is Rs. 3.41 whilst at Group level it is Rs. 5.70. Shareholders of BIL on 4 August approved the Rights Issue of one New Ordinary Share for every one existing Ordinary Share at Rs. 1.25 each. Brown and Company (37%), Century Investments Plc (GREG) (20% stake) and LOLC Investments Ltd (13%) are among major shareholders of BIL. In first quarter of FY15,... 


Holcim (Lanka) adjudged 1st Runner Up for ‘Product Award’ at Kedella Exhibition 2014

Published : 12:00 am  August 23, 2014  |  Category: Business  |  Leave a Comment  |  359 views  |  

Holcim (Lanka), diamond sponsor of the Kedella 2014 exhibition was adjudged as the first runner up for the ‘Product Award’. Showcasing the most innovative and attractive stall at the recently held exhibition at BMICH, Holcim (Lanka) Manager Marketing Gayani Perera was presented the award by organisers of the event CEC Events Ltd. Manager – Marketing Dhanushka Sharmal. The Kedella exhibition annually sees over 25,000 visitors. The event which comprised of over 250 stalls was represented by suppliers of home based items, interior decorators, gardening products, furniture among many other construction and decorative items. The recently concluded event in Colombo will be held in Galle, Negombo... 


Syria sets sights on Sri Lanka

Published : 12:00 am  August 23, 2014  |  Category: Business  |  Leave a Comment  |  552 views  |  

First Syrian investor account of Lanka discovery ‘Welcome to our industries’: Rishad ‘BOO first’: Consul Dr. Al Droubi Bilateral trade at $ 97 m For the first time, Syrian investors’ view on trading and investing in Sri Lanka has been revealed in a first-hand account on 13 August in Colombo and the cash-rich Syrians want to set up active projects first, rather than sending a stream of hot funds. “As countries, Gulf economies are richer than Syria but when it comes to individual countries’ private capital volumes, everyone knows that Syrians are way ahead and much more liquid than private capital in the Gulf region. The main issue now is that the Syrian industrial community is... 


Oats-based products to be made in Mirigama under BOI

Published : 12:00 am  August 23, 2014  |  Category: Business  |  Leave a Comment  |  464 views  |  

The BOI signed an agreement with Aussee Oat Milling Ltd. to manufacture oats-based products such as rolled/flaked oats, flavoured oats, oats muesli, oats flour, oats bars and oats cookies for export. The company plans to invest $ 10.5 million to set up a manufacturing plant in the Export Processing Zone in Mirigama. Aussee Oat Milling Ltd. is a Joint Venture between Future Consumer Enterprise Ltd. and SVA India Ltd., both public listed entities in India. The company is looking to set up the first state-of-the-art oat mill in South East Asia to process oats from the raw form right up to the finished product. Oats is the healthiest of all grains and is the grain of choice recommended by all doctors... 


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