ACESL to hold workshop on FIDIC contracts

Published : 12:56 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  201 views  |  

The Association of Consulting Engineers Sri Lanka (ACESL) is to conduct two two-day FIDIC contracts workshops from 22 to 25 September at the Water’s Edge Hotel in Battaramulla, The first workshop will be on ‘the Practical Use of FIDIC Conditions of Contracts’ and provide essential contractual knowledge about working on today’s international projects while the second will address ‘Management of Claims, Dispute Resolution, Dispute Boards and Adjudication under FIDIC Contracts’ for the construction industry. The program is supported by the ADB–AusAID South Asia Development Partnership Facility and conducted by FIDIC-accredited trainer and engineer Geoffrey Smith. The ACESL is the Sri... 


Biotech a path for higher economic status: Prof. Vitarana

Published : 12:51 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  406 views  |  

By Shabiya Ali Ahlam A top Minister yesterday called for increased efforts in biotechnology in Sri Lanka to achieve and retain a higher economic status. Senior Minister Scientific Affairs Prof. Tissa Vitarana addressing the first National Conference on Biotechnology noted that with the global requirement for hi-tech products continuing to increase, it is imperative for Sri Lanka to make the shift and focus on biotechnology as it is an area that has immense potential for growth. “The potential for biotechnology is vast in Sri Lanka as it is a biodiversity hotspot. The country has tremendous resources readily available that will help develop this industry. While required is a direction to move... 


Microimage founder Harsha Purasinghe selected as Eisenhower Fellow 2014

Published : 12:51 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  1,916 views  |  

Harsha Purasinghe, CEO and Founder of Microimage has been selected as a 2014 Eisenhower Fellow, a prestigious award given annually by the Eisenhower Foundation. Harsha, who was selected from a pool of international applicants, will travel to the US later this month to participate in the 2014 Eisenhower Innovation Program. On fellowship, Harsha will explore social innovation, entrepreneurship and social enterprises in the US to inform his plans to build a platform for social idea incubation/acceleration platform in Sri Lanka. This platform will foster social innovation and entrepreneurship by providing access to mentors, advisory groups, volunteers, financing, technology platforms and other resources.... 


Abans Engineering joins hands with Hyundai Elevator

Published : 12:50 am  September 19, 2014  |  Category: Business  |  2 Comments  |  371 views  |  

Abans Engineering Ltd., a member of the Abans Group, signed a partnership agreement with Hyundai Elevator Ltd. for the technologically advanced Hyundai high speed elevators and escalators, on Thursday 18 September at the Cinnamon Grand Hotel. Abans Group Chairperson Aban Pestonjee signed on behalf of Abans Engineering while Hyundai Group Senior Executive Advisor Bob Jang signed on behalf of Hyundai Elevator Ltd. This tie-up between Abans Engineering and Hyundai Elevator Ltd. augurs well for the construction and development industries in Sri Lanka. As high rise buildings and skyscrapers reach new heights, the need for high speed, technologically advanced elevators is more urgent. Hyundai Elevators... 


Harsha joins Royal Ceramics Board

Published : 12:50 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  671 views  |  

Harsha Amarasekera PC has been appointed to the Board of Royal Ceramics Plc as a Non Executive Director. Harsha already serves the Boards of Royal Ceramics-related parties Vallibel One Plc and Amaya Leisure Plc as an independent Non Executive Director. A leading lawyer, Harsha is also the Chairman of CIC Holdings Plc and serves on the Boards of Expolanka Holdings Plc, Chevron Lubricants Lanka Plc, Amana Bank Plc, Keells Foods Products Plc, and Vallibel Power Erathna Plc.  Read More →


Ravi Dias joins Tokyo Cement Board

Published : 12:49 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  184 views  |  

Retired senior banker Ravi Dias has been appointed to the Board of Tokyo Cement Company (Lanka) Plc as an Independent Non Executive Director with effect from 17 September 2014. Ravi Dias served Commercial Bank for four decades and retired recently. He also serves on the Boards of Carson Cumberbatch Plc, Senkadagala Finance Plc among others. The company announced longstanding director Stanley Wanigasekera as resigned as nominee director of Nippon Coke and Engineering Company Ltd., Japan and replaced by Akira Ikematsu. Wanigasekera held 5,000 voting shares and 15,935 nonvoting shares at the time of his resignation. With the latest changes the Board of Directors of Tokyo Cement Company (Lanka) Plc... 


OPA conference to highlight agriculture role in food security, poverty-reduction

Published : 12:45 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  114 views  |  

The Organisation of Professional Associations (OPA) will hold its annual conference on the theme ‘Role of Agriculture in Food Sovereignty and Poverty Eradication’ on 23 and 24 September at the Grand Ballroom of the Galadari Hotel in Colombo. OPA President V. Ganesh said that the theme was appropriate, coming at a time when parts of the country were stricken by a drought resulting in a lower paddy harvest. OPA’s President-elect and Annual Conference Committee Chairman Athauda Jayewardene said that it was important that issues like agriculture be discussed as new ideas can be gathered on how the country can move forward in the sector. The conference will be inaugurated on 23 September at... 


Labugama and Kalatuwawa water treatment plant renovation in full gear

Published : 12:44 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  141 views  |  

Efforts by Access Engineering PLC to rehabilitate the Labugama and Kalatuwawa water treatment plants – two water supply schemes that account for 15-18% of the water requirement of Colombo and the suburbs – are progressing swiftly. The Labuagama and Kalatuwawa treatment plants were constructed by the British in 1886 and 1957 in close proximity to each other. The designed capacity of Labugama (WTP) which was 60,000 m3/day and Kalatuwawa (WTP) which was 90,000 m3/day have been reduced by 30% due to the severe deterioration that has occurred over the years. The project which is being executed by the National Water Supply and Drainage Board is funded through a tied aid loan from Hungary. Access... 


Parkson files Softlogic mandatory offer on Odel in Bursa Malaysia

Published : 12:43 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  1,437 views  |  

The star.com: Parkson Retail Asia Ltd. (PRA), the Singapore-listed department store subsidiary of Parkson Holdings, has received a mandatory takeover offer from the Softlogic Group to acquire 129.15 million shares, or 47.56%, in fashion retailer Odel Plc, for about RM6 9.74million. In a filing with Bursa Malaysia, Parkson Holdings said the joint-offeror – Softlogic Holdings Plc and Softlogic Retail (Private) Ltd. – had triggered a mandatory takeover of Odel after buying 122.89 million shares, representing a 45.16% block in the company. It said the joint-offeror was offering to buy the remaining 149.24 million shares, or 54.84%, of Odel that it did not own, at an offer price of Rs. 22 (54... 


National Chamber session on oil exploration in Sri Lanka

Published : 12:43 am  September 19, 2014  |  Category: Business  |  Leave a Comment  |  107 views  |  

A seminar on petroleum and natural gas discovered in the Mannar Basin, under the topic ‘Oil Exploration in Sri Lanka’ will be held on Wednesday, 1 October from 3 to 4:30 p.m. at the National Chamber Auditorium, No. 450, D.R. Wijewardene Mw, Colombo 10. In this seminar, the National Chamber has invited the Petroleum Resource Development Secretariat (PRDS) to present the current status with regard to the availability of domestic oil and gas in offshore Sri Lanka. The keynote speaker Saliya Wickramasuriya, Director General of Petroleum Resources Development Secretariat (PRDS) will explain in detail the benefits to the local and export markets, challenges of producing domestic fossil fuels, and... 


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