Close ended unit trusts to be listed
Colombo Stock Exchange (CSE) has formulated
draft regulations to enable close ended unit
trust funds to list in the CSE.
Unit Trust Association of Sri Lanka (UTASL)
President S. Jeyavarman told The Sunday
Leader that there were a few technicalities
that needed to be ironed out after which the
necessary regulations will be in place by
the end of the first quarter to enable such
funds to list in the Exchange.
He said that one of the advantages in
listing close ended unit trust funds is that
it provides the investor a quick exit
mechanism, without having to wait for the
fund to mature to obtain his proceeds.
But in the case of open ended funds, the
industry daily provides two way quotes,
making it possible for the investor to exit
whenever he wishes to.
The industry is regulated by the Securities
and Exchange Commission.
He said that currently there were only two
close ended funds operated in the market,
the Rs. one billion strong NAMAL Flexi
Income Fund (NFF) and the Rs. 36 million
strong NAMAL Amana Equities Fund (NEF) that
was opened last November.
Both are operated by National Asset
Management Ltd (NAMAL), which CEO is
Jeyavarman. It is controlled by business
magnate Don Harold Stassen Jayawardena.
He said that when they opened NFF, a fixed
income investment fund of a two year
tenure, with investments in corporate debt
and government securities, they promised
investors a 14% return, but in the current
high interest rate environment, they will
now receive a 17-18% return on maturity, he
In addition the industry operates some 11
open ended unit trust funds. The industry
players are NAMAL with a total of six funds
(two open and four closed), Eagle (3), Vanik
(1), Ceybank (2) and CT Fund (1).
Jeyavarman said that there were around
24,000 investors in the unit trust industry,
with the composition being 20% institutional
investors which provide 80% of the total
value of the fund, while the rest were
He valued the industry at Rs. six billion,
up from the Rs. 4.5 billion in 2006. He
expected the industry to grow by another Rs.
1-1« billion before the year end, mainly
aided by two new close-ended funds which he
hopes to launch in the second quarter of
Jeyavarman hopes to rake in Rs. one billion
from a close ended fund dedicated to invest
in government securities with a bent on
treasury bonds by targeting institutional
funds. This fund which will be of a four
year tenure will be listed in the CSE by a
way of an introduction, he said.
In addition, the industry is growing at the
rate of Rs. 20-30 million monthly, he said.
Jeyawarman further said that they will also
open a fund dedicated to invest in lease
backed securities also in the second
quarter. He said that investments in leased
backed securities currently give a higher
return than investments in government
securities. While investments in leased back
securities give an investor a 21% return,
investments in government treasuries give an
investor only an 18% yield, he said. In
addition, the lessees have to pay a 30%
interest to the leasing companies.
Listing of the least backed securities fund
will hinge on the number of investors that
fund would be able to attract, he said,
adding that such a dedicated fund was a
first timer in the market, with investors
not well acquainted with it.
Jeyavarman said that he also plans to list
the NEF which is of a five year tenure by
way of an introduction once the necessary
regulations are in place. He however said
that it was not worth the while listing the
NFF, a two year fund, which matures in March
No to steep rate declines
The government will not allow interest rates
to fall steeply as that will be detrimental
in trying to control inflation, Central Bank
(CB) Governor Ajith Nivard Cabraal said.
In an inter-active discussion on the economy
at the Institute of Chartered Accountants on
Thursday, he said that a steep fall in rates
would fuel credit demand, which in turn
would cause inflationary pressure.
In the past few weeks treasury bill rates
have come down from 21.5% to 18%, as the CB
gave a signal to the market that they want
rates to come down.
CB has maintained a tight monetary policy in
order to arrest inflation which is in the
20% levels, he said.
He said that 40% of inflation last year was
imported inflation caused by rising oil and
The government paid $ 2.4 billion to import
30 million barrels of oil last year, but
this year it will go upto between $ 2.8-2.9
billion, said Cabraal.
He said that the trade deficit is $ four
billion because of high imports. Last year
the country spent $ 328 million on vehicle
imports. Vehicle importer David Pieris had
told him that every minute he sells a
motor-bike and every 10 minutes a Bajaj
In response to a question on the high cost
of living (CoL), he said that the high CoL
could be overcome by increasing
When The Sunday Leader asked him whether the
government intends to use the $ 300 million
loan that it plans to raise to pay past
borrowings, he said that he will answer that
Earlier, Cabraal said that part of the $ 500
million raised through a sovereign bond
issue last year was used to pay past debts.
However, Cabraal, prior to the raising of
this sovereign bond issue told reporters
that the monies so raised would be used to
fund infrastructure development projects.
Cabraal said that the country could raise
money either by taxes, borrowings or
privatization. Privatisation however was not
government policy. As such the government
was pursuing the first two options, while
also including a third option,
Regarding the rupee, he said that whereas in
the past the CB used to be offloading US
dollars to the market in order to shore up
the rupee, now the reverse was taking place,
with the CB having to intervene by buying
dollars from the market in order to prevent
the rupee from appreciating further.
He said that foreign exchange reserves in
the last 45 days had risen by $ 200 million
to $ three billion, sufficient to finance
three months of imports.
Cabraal estimated the country's GDP at $ 32
He said that public debt as a percentage of
GDP had come down from 89.2% to 86% last
year. It was expected to further come down
to 82% by the year end.
"So when the country grows, the country's
ability to pay grows," Cabraal said.
He said that the rupee appreciation last
year helped the government to make a Rs. two
billion gain in foreign debt payment.
He said that in order to increase
remittances from $ 2.5 billion to $ three
billion this year, the National Savings Bank
has made arrangements with over 14,000 post
offices in Italy to make it easy for Sri
Lankans in Italy to remit money home.
NCE warns of 43% tariff hike
National Chamber of Exporters (NCE) member
council which met last week were of the
view that if the proposed hike in
electricity tariffs of around 43% were to be
implemented, it would have disastrous
consequences on export enterprises which are
vital to sustain Sri Lanka's economy.
Council members made the following
observations: Existing electricity tariffs
of Sri Lanka are known to be the highest
among competitor countries in the
region.India provides subsidised power to
vital sectors of her exporters.
Furthermore power is provided free to
certain sectors especially in Tamil Nadu. In
Sri Lanka electricity cost is high due to
inefficiencies and mismanagement of the
power sector. This includes a 20% loss in
power transmission, while the norm for
transmission losses is not more than 12%,
"and power piracy."
Industries which serve the domestic market
will be able to pass on the cost of
increased tariffs to local consumers.
However export enterprises cannot do so as
they will be priced out of international
markets in which they already face severe
competition to sustain themselves.
There is a need for an energy plan as well
as policies for alternative energy sources
to be worked out to overcome any need to
increase prevailing electricity tariffs.
In view of the above, NCE council members
were of the view that any proposal to
increase electricity tariffs should be
differed till the year end to enable
stakeholders specially in the export sector
to plan and propose for implementation
alternative strategies to prevent any hike
in electricity tariffs.
The Council was of the view that failure to
do so would have repercussions on the export
sector which could result in the closure of
many enterprises which would not be able to
remain competitive in international markets
resulting in the loss of foreign exchange
earnings to the country as well as loss of
employment to many.
The Council therefore requests the
Government to give consideration to their
concerns and differ implementing any
increase of the prevailing electricity
Plantations to drive bourse
The benchmark ASPI came down by 6.18 points
on Friday's trading (over Thursday) to close
at 2,510.79 points while the more sensitive
MPI marginally gained by 1.03 points to
close the week at 3,153.75 points.
Turnover recorded on Friday was Rs. 270.7
Meanwhile, Colombo Fort Land (CFL), the
holding company of Kotagala Plantations and
listed in the Default Board made gains on
the back of expected high earnings from
Kotagala. CFL was up Rs. 2.25 to close at Rs.
21.50 per share on Friday. However, Kotagala
was down Rs. 3.75 to close at Rs. 64.50 on
Kotagala in the 3rd quarter ended December
31, 2007 saw revenue grow by 80.1% year on
year (YoY) to Rs. 857 million, while profit
after tax (PAT) during this period grew by
259.9% YoY to Rs. 243.7 million.
The company in the nine months ended
December 31, 2007 saw revenue grow by 27.4%
YoY to Rs. two billion, while earnings
during this period increased by 57% to Rs.
455 million.In the past few days plantation
stocks have been driving the market up.
High earnings of tea and rubber have been
attributed to this hype, though in general,
plantation stocks are poor dividend
Sources expected the market to make gains in
the new week beginning tomorrow driven by
this hype on plantation stocks and related
accounts such as CFL, Richard Pieris and
Distilleries, with the latter being the
holding company of Balangoda and Madulsima
There may be some downside on account of
profit taking, but on the whole the market
is expected to be buoyant in the new week,
barring any slip-up in the security
situation, the sources said.
House of Tiles at Mount
True Value Products' (TVP') new state of the
art showroom is now located in Mount Lavinia
and is probably the best showroom of tiles
and bathroom fittings according to TVP
Chairman Fayaz Mohamed.
Plans were in the pipeline for some time
according to Mohamed who said that this new
showroom, one of many more to come, offers
shoppers a new experience in shopping for
tiles and bathroom fittings.
Speaking to The Sunday Leader Mohamed said,
"Go to any other showroom and it's cramped
and not very comfortable for shoppers and
this has made shopping for these kinds of
accessories not something that people look
From residential houses to high rise
apartments and luxury villas to the rich and
famous, TVP tiles and bathroom fittings have
adorned them all.
The new showroom offers spacious shopping in
air conditioned comfort and a wide range of
designs, colours and products on display.
Since TVP' inception four years ago, the
company has focused its efforts on being a
leader in the tiles industry.
So far, the company has offered state of the
art surfacing solutions to both the home and
commercial builders with products and
services that transcend the highest quality,
ensuring customer satisfaction by matching
Mohamed, says that when it come to providing
high quality, long lasting and most of all
unique designs in tiles, the majority of Sri
Lanka's tile merchants lack professionalism.
He said, "There's a lot more to choosing
tiles than just the look and feel of the
product. Anyone can't tell the difference
between a branded high quality and long
lasting tile and an ordinary one, and that's
where we excel. The tiles we import are
manufactured to European Standards and
what's more is that we give certification
and our products come with warranties."
Mohamed said that very few people in the
tile industry had a proper vision, and that
TVP' sole aim is to provide customers with
quality products that come in innovative
designs, sizes, and colours and are not
For such a young company, TVP has grown in
strength over the past three years due to
their unwavering standards of products.
Monalisa is TVP' leading brand currently and
this brand is on display at the new
showroom. This brand of tiles imported from
China is on par with leading ceramic brands
in the international market.
Mohamed said, "We have standards and we
stick by them. We focus on specialized tile
products and also building material. You get
the best and the worse products in any
country, but when it comes to our tiles, we
ensure we provide our customers with the
best. The composition in tiles are
important, you can buy cheap tiles from all
over the place now, but they may crack or
break or even lose their colour after a
while which means they'll have to be
While prices may not be cheap, TVP offers
their products at competitive rates. From
individual clients to corporate giants, TVP'
tiles have grown popular over the past few
years though word of mouth. "It's the best
publicity we can ask for. It's important to
us to keep our customers happy, and provide
with the best possible products at
affordable rices. It not only keeps them
coming back, but keeps our customer base
growing at an amazing rate."
With quality and good price that TVP come
in, it also offers customers a variety to
choose from. A stroll round TVP' Mt. Lavinia
showroom will show you an unbelievable array
TVP also has a dealer network-in Ratnapura,
Galle, Matara and Bandarawela and will soon
be in Kandy and Wennapuwa.
The Company is focused on creating a range
of tiles, which can compete with the best in
To ensure that its collections are
internationally acceptable, Monalisa tiles
are designed and conform to international
standards. TVP has captured a majority of
the Sri Lankan market. But don't take our
word, visit their Mt. Lavinia showroom.
Health fair at Panadura
Organised by Ceylinco Healthcare Services
Ltd., (CHSL), the company that manages
centres of excellence for the prevention and
management of diabetes and for screening and
treatment of cancer, the Ceylinco Health
Fair takes place at the Panadura Town Hall
premises on March 1.
Intended as an extension of its efforts to
promote prevention and early treatment of
these diseases and to create an awareness in
suburban areas of the services it provides,
the fair will provide a range of free
medical and lifestyle related information to
The Ceylinco Diabetes Centre and the
Ceylinco Healthcare Centre will each have
their designated stalls at which specialist
doctors would be available for discussions
and to seek advice and information.
On offer to visitors free are blood glucose
and body mass index checks, eye tests and
advice on key areas such as diet plans,
exercise, foot and breast care and
information on well man and well woman
Presentations lined up for the day cover
subjects such as 'Correct use of medication
in chronic diseases,' 'Diabetes and
complications' and 'Common cancers in Sri
These will be made by leading medical
professionals. A cookery demonstration by
chef Loiyd Opatha and a demonstration and
talk on exercise have also been scheduled.
Passengers who book tickets online for
travel with Emirates can now win air tickets
to destinations in three different regions
following the launch of a new online booking
promotion by this carrier.
Prizes include Economy Class return tickets
to London, Dubai and Singapore.
To participate in the grand draw for these
prizes, passengers should have booked
online, ticketed and flown the "first"
sector on or before March 31, 2008.
Liquidity to ease pressure
The rupee dipped by 10 cents on Friday to be
trading at Rs. 107.95 (buying)/ Rs. 108
(selling) to the US dollar as importer
pressure was witnessed in the market,
Meanwhile, with the market having a Rs. five
billion surplus on Friday, overnight call
money market rates, the rates at which
commercial banks lend to each other for a
day, came down by 100 basis points over
Thursday's close to finish the week at 16%.
Due to this liquidity, sources expected
pressure on rates to decline further when
the market opens for trading tomorrow.
5 offers for $ 300 mn., loan
Central Bank (CB) received five bids when
they closed their request for proposals (RFPs)
for a $ 300 million syndicated loan from
international banks on Thursday, according
to unconfirmed reports.
A steering committee headed by Deputy
Central Bank Governor W.A. Wijewardena is
expected to make their recommendations to
the government in this regard this week.
CB asked for bids of a three year tenure in
this loan call, with one of the key deciding
factors in choosing the successful bidder
being the interest charged on the loan. Last
October the CB raised US$ 500 million from a
sovereign bond issue of a five year tenure
at an annual interest rate of 8.25% asked by
Dismissed with costs
Colombo High Court Judge Upali Abeyratne
dismissed with costs the application made by
Lanka Hospitals Corporation Ltd., (the
owning company of Apollo Hospitals Ltd.,) to
set the majority arbitration award made
against it by retired judge A.S. Wijetunga
and Mohan Peiris (PC).
The award made in favour of Airtech
Engineering (Pvt.) Ltd., was for a sum of Rs.
13 million in connection with
air-conditioning work done.
(PC) with Rajendra Jayasinghe appeared for
Lanka Hospitals, while V.K. Choksy appeared
9.7% credit card growth
The number of active credit cards in
circulation last year increased by 9.7% year
on year to 889,780. Outstanding credit card
balance during this period increased by
36.6% to Rs. 28.8 billion.
Colombo Dockyard PLC has declared a first
and final dividend of Rs. 3 per share.
Shareholders' meeting on March 25, 2008;
excluding dividend date March 26 and payment
date March 31, 2008.
SLT 4th qtr. PAT down 17%
Sri Lanka Telecom (SLT) in the 4th quarter
ended December 31, 2007 saw Group revenue
marginally up by 5% year on year (YoY) to Rs.
11.3 billion, while net profit was down 17%
to Rs. 1.3 billion.
SLT for the
full year saw revenue grow by 6% YoY to Rs.
43.2 billion, while net profit for the year
was marginally up 4% to Rs. 5.6 billion.
NCUK degree programmes
ANC, the leading higher education provider
in Sri Lanka for US and Australian based
undergraduate university programmes,
launched UK university undergraduate
transfer programmes in
on Thursday in collaboration with the
Northern Consortium United Kingdom (NCUK).
A BOI approved tertiary education
institution under the umbrella of Ceylinco
Education Group (CEG), ANC's foray into the
UK university academic sphere now completes
the triad of most sought after destinations
by Sri Lankan students vying for higher
education opportunities abroad.
"What we have done ensures that the best
university education options in the world
are available in
said CEG Deputy Chairman Jagath Alwis at the
signing of the agreement between ANC and
NCUK, which also had guests from the UK
universities and the Northern Consortium
"ANC's objective has been to give youth a
chance at embarking on world class
university education, taking into
consideration the cost effectiveness and the
wide and diverse curriculum we can offer
right here in Sri Lanka." In partnership
with NCUK which has 11 owner universities
within its purview, Alwis said that the
undergraduate transfer programmes will
benefit parents and youth by offering a
fast-track and cost-effective UK university
education at a reduced rate. "Our
partner universities include 11 UK
universities, four of which belong to the
elite Russell Group of UK universities. We
are offering Sri Lankan students access to
universities at an affordable cost."
The NCUK has a 20 year history of delivering
UK university undergraduate transfer
programmes worldwide. The 11 NCUK founder
universities own the International
Foundation Year and International Diploma
programmes which will be delivered at ANC.
The owner universities collectively monitor
the academic content and delivery of
programmes to ensure they comply with UK's
Quality Assurance Agency standards and
deliver a comparable experience to that in
NCUK CEO Jean Krasocki, said: "NCUK's
pedigree is unrivalled in the UK and
throughout our 20 year history over 13,500
students have progressed from our programmes
to degrees in the UK. Many of these
students have obtained outstanding degree
results and made a great contribution to
their local societies and economies. In
ANC, we have found a Sri Lankan partner of
quality and experience in delivering
education with global opportunities.
Together, ANC and the NCUK are creating a
academic and cultural experience here in
- an experience valued both by students and
the universities that welcome them on
The NCUK programmes will be offered at ANC
under the brand name ANC-UK. The programmes
will include an International Foundation
Year (IFY) programme which can be completed
in one year and is equivalent to A/levels
and an International Diploma (IDip)
Programme offered in business, engineering,
computer science and IT, which is equivalent
to the first year of bachelor degree
Entry to the IFY programme is from O'
levels and to the IDip from A levels.
Students can progress to a range of degrees
at many UK universities following the IFY
programme, but it is anticipated that most
will continue on to the IDip and enter year
2 of one of over 200 honours degree
programmes at NCUK owner universities.
On successful completion of either
programme, progression is guaranteed.
Students can graduate after 2 years in the
UK or can take a sandwich programme which
incorporates a year's internship in between
the second and final years and graduate
after 3 years. Either way, students will
graduate with a degree, having saved
significant time and costs.
ANC CEO Dr. Punarjeeva Karunanayake said
that the time and cost savings gained by
undertaking these programmes should not be
under-estimated. "Students save time and
money and enter the workplace early."
Karunanayake also added that while minimum
entry criteria are applicable, the selection
of the university will be subject to
individual performance. "At the end of the
day, we want to give the best to our
students and it is important that their
competencies, knowledge levels, abilities
and strengths are matched to the right
NCUK owner universities include
Leeds, Liverpool, Bradford, Salford,
Sheffield Hallam, Liverpool John Moores,
Huddersfield, Leeds Metropolitan and
Manchester Metropolitan universities.
NCUK partner universities, also recognize
the NCUK IFY programme for entry into the
first year of their degree programmes.
These NCUK partner universities include
Bristol, Aston, Southampton, Sussex,
Birmingham, Kent, Portsmouth and Kingston
universities and Queen Mary-University of
"complete" child nutrient
Mead Johnson is represented in Sri Lanka by
A. Baur & Company-a company that is well
over 110 years old.
This would appear appropriate as Baurs has
been associated with healthy growth, since
the company was initially into providing
special fertilizer to the agriculture
industry. Over the years, the planned
diversification took the firm into many
areas - pharmaceuticals not being the least.
Baurs is proud to be associated with a
prestigious name like Mead Johnson (MJ) and
spares no effort to live up to the goal of
not only giving infants and children the
best start in life, but also staying
alongside them because those little bodies
have to last a lifetime.
MJ needs no introduction. It has steadfastly
stayed dedicated to its vision: "To be the
world's leading provider of science-based
paediatric nutrition and services, providing
infants and children with the best possible
start in life" for over 100 years. The
beginnings centre on a child-Edward Mead
Johnson's infant son who was unable to
digest his feedings.
This prompted Johnson to concentrate on
developing a product to counter this ailment
which was considered dangerous at the turn
of the twentieth century. His efforts were
successful and he formed a company-Mead
Johnson & Company in 1905, which hasn't
looked back since.
A century and more on, research and
development remain top priority and continue
to make substantial contributions to
pharmaceutical and nutritional science with
over 100 highly successful brands across 110
countries. The range of products that enjoy
a high degree of popularity in Sri Lanka
include Sustagen, Enfagrow, Enfamama and
MJ, the world's first choice in child
nutrition, continues its 'caring' touch with
'Enfakid,' formulated with toddlers of 3
years and above in mind. This new
nutritional formula contains the
ingredients to supplement the energy little
ones will expend as they begin to 'discover'
in their way, a world of wonders. More
importantly, 'Enfakid' also contains the
essential ingredient, DHA+ARA in quantities
recommended by the World Health Organization
for developing their little brains, which
will help build a growing IQ.
Enfakid also boosts brain development with
the increased quantity of Choline, while
other nutrients comprise Iron for red blood
cell formation, Zinc for growth, Protein to
build and repair body tissues (essential for
growth and development) and Calcium for
strong bones and teeth.
Apple recently unveiled MacBook Air, the
worlds thinnest notebook.
The Macbook Air measures 0.16 inches at its
thinnest point, while its maximum height of
0.76 inches is less than the thinnest point
on competing notebooks.
Epsi Computers (authorized re-seller for
Apple in Sri Lanka) Marketing Head Rukshan
Jayawardena said that the MacBook Air has a
13.3" LED-backlit widescreen display, a
backlit keyboard, a built-in sight video
camera for video conferencing and a track
pad with multi-touch gesture support so
users can pinch, rotate and swipe.
He added the Macbook Air (MBA) is powered
by a 1.6 GHz or 1.8 GHz Intel Core 2 Duo
processor with 4MB L2 cache, and includes as
standard features 2GB of memory, an 80GB
1.8-inch hard drive and the latest 802.11n
Wi-Fi technology and Bluetooth 2.1.
Jayawardena added that MBA is available at
"We built the world's thinnest notebook
without sacrificing a full-size keyboard or
a full-size 13-inch display," said Apples
CEO Steve Jobs. "When you first see MBA,
it's hard to believe it's a high-performance
notebook with a full-size keyboard and
display. But it is.
The MBA has a 13.3" LED backlit glossy
widescreen display that is energy efficient,
and its spacious trackpad offers multi-touch
gesture support for pinch, rotate and swipe,
making it more intuitive than ever to browse
and rotate photos or zoom into web pages "in
MBA features a full-size keyboard design in
a sleek and durable aluminium enclosure. The
backlit keyboard makes it ideal for dimly
lit environments such as airplanes, studios
or conference halls, and a built-in ambient
light sensor automatically adjusts the
brightness of the keys as well as the
display brightness for optimal visibility.
MBA delivers up to five hours of battery
life for wireless productivity and includes
AirPort Extreme.. 802.11n Wi-Fi networking,
which delivers up to five times the
performance and twice the range of 802.11g.*
Apples Migration Assistant software now
enables users to quickly transfer files,
applications and preferences from your old
Mac.. to MBA right over your wireless
MBA is powered by Intel Core 2 Duo
processors running at 1.6 GHz or 1.8 GHz and
includes as standard 2GB of memory and an
80GB 1.8-inch hard drive. An optional 64GB
solid state drive contains no moving parts
for added durability. Every MBA includes a
micro-DVI port so users can connect to
Apple's 20" or 23" Cinema Displays to extend
their desktop or connect to projectors and
other displays via DVI, VGA, Composite and
MBA includes USB 2.0 for plugging in
peripherals or charging an iPod‹.. or iPhone,
a headphone jack and Apple's acclaimed
MagSafe Power Adapter designed especially
for mobile users.
Every MBA comes with iLife..08, the
significant update ever to Apples
award-winning suite of digital lifestyle
applications, featuring a major new version
of iPhoto..and a completely reinvented
iMovie, both seamlessly integrated with the
new Mac Web Gallery for online photo and
video sharing. The new MBA also comes with
Leopard, the sixth major release of the
world's most advanced operating system.
Leopard introduces Time Machine, to
automatically back up everything on a Mac; a
redesigned Finder that lets users browse
and share files between multiple Macs; Quick
Look, a new way to see files without opening
an application; Spaces, a feature used to
create groups of applications and instantly
switch between them; a new desktop with
Stacks to access files from the Dock and
major enhancements to Mail and Chat..Mac
members can use the new Back to My Mac
feature to browse and access files on their
home computer from an MBA over the Internet
while out on the road.
The new MBA embodies Apple's continuing
environmental progress with its aluminium
enclosure, a material desired by recyclers;
Apple's first mercury-free LCD display with
arsenic-free glass and brominated flame
retardant-free material for the majority of
circuit boards as well as PVC free internal
cables. In addition MBA consumes the least
amount of power of any Mac, and its retail
box made from 100% post-consumer recycled
material is 56% smaller by volume than the
previously smallest MacBook packaging.
VP helps pay
mobile phone bills
Seylan Bank which enjoys an enviable
reputation for its numerous innovations in
the banking industry has launched a novel,
convenient and easy way to pay Dialog mobile
phone bills-be it settling post-paid bills
or topping up a pre-paid connection.
V-PAY (VP) enables registered users to pay
Dialog bills anywhere, anytime. All that's
needed is a Seylan Visa Debit/Credit or any
Bank Visa Credit Card.
With an SMS from the registered phone with
VP, they can settle the bills or top-up the
phone instantly and the amount will be
deducted from their account.
To register for this facility, go to the
nearest Seylan branch and fill out the
application form. The facility will be
Seylan is offering a special incentive to
those who register for VP before April 30,
2008. If they settle a bill or top-up to the
value of Rs.1,000, they can enter a draw
which offers Rs.250,000 as a Grand Prize and
additional prizes of 5 mobile phones.
It is foolproof, as the settlement or
topping up can be carried out only if the
phone number matches the credit or debit
card registered with VP. That makes VP a
safe way to pay mobile phone bills, not
forgetting the convenience and ease of
paying anywhere, anytime.
anti cancer drugs
Sun Pharmaceutical Industries (India) Ltd.
(SPIL) launched three high-tech anti-cancer
drugs recently in Sri Lanka. They are
Luprolide, Cabergolin and Gemcitabine. With
these launches, Sun Pharma has entered the
SPIL, the 5th largest pharmaceutical group
both in India and Sri Lanka is an
internationally acclaimed Pharma group
having 16 state-of-the-art manufacturing
facilities across 3 continents and marketing
presence in 30 countries.
This aggressive group known for its
innovative and research based marketing
approach is led by its charismatic chairman
Dilip Shanghvi-the recipient of many
national and international awards. The
latest award bestowed upon Shanghvi is "
The First Generation Entrepreneur of The
Year" award in the CNBC "India Business
Leader" awards 2007.
SPIL has the distinction of being honoured
among " The Top 50 Companies Of Asia " by
Business Week. After using a stringent
methodology of elimination, Sun Pharma found
itself rubbing shoulders with some of the
giants in the business field in
Japan. The icing on the cake was that SPIL
is one of only two pharmaceutical companies
from Asia to figure among the Top 50 Group.
18 years ago, in 1990, Sun Pharma products
were launched in Sri-Lanka through Harcourts
(Pvt) Ltd. It was a coincidence that the Sri
Lanka launch was Sun Pharma's first venture
into international marketing for Ahamed
Rheyas, Chairman Harcourts Group. SPIL was
his first venture into establishing his
company as a pharmaceuticals importer.
Angizem was the first product and the first
branded generic of Diltiazem marketed in Sri
Lanka. Subsequently many more brands in the
"specialities" like Cardiology,
Neuropsychiatry and gastro-enterology were
introduced in Sri-Lanka.
Not much water has flown down the Mahaweli
river since then and both these industry
leaders, Shanghvi and Rheyas have stamped
their niche identities on their respective
SunPharma's International marketing
operations are headed by Abhay Gandhi and
the local operation is under S.K.Roy, the
Deputy General Manager. Team Sun Pharma of
Harcourts is headed by Delanjan Welikala,
Marketing Manager, who is assisted by Senior
Divisional Manager Irfan Rasheed, two deputy
managers and coordinators and 30 medical
Sun Pharma already has in its portfolio
specialized drugs for psycho-neurological
problems, cardiac and gastro-intestinal
segments. With the entry of the anti-cancer
drugs segment, SPIL opens up a new vista for
its future developments. The three drugs
which are SPIL's initial offering in this
segment are: Luprolide for advanced
prostrate cancer, Cabergolin for micro/macro
pituitary adenomas and Gemcitabine for Grade
II and Grade III lung
These products are available to patients
through Harcourts Super Drugs chain stores
at a reasonable price. A special cell has
been established under a product specialist
to render prompt information and service to
Sun Pharma has lined up many more products
to be launched in the anti-cancer segment in
due course of time. As is the wont of SPIL,
when they are into something they go the
whole hog into it. It will not be an
understatement to say that before long SPIL
will be a dominant force in anti-cancer
Chartered Institute of Management
Accountants (CIMA) Sri Lanka Division
awarded the CIMA Training Partner
Certificate to Asian Alliance Insurance PLC
CIMA has accredited over 1,500 business
organizations such as Microsoft, Ernst &
Young, HSBC and Unilever worldwide. The CIMA
Training Scheme aims to raise the standard
of training support provided to CIMA
students and recognizes those organizations
which provide training in accordance with
CIMA's Quality Standards for Chartered
i10 wins it
It's raining awards for Hyundai i10 which
has bagged the most prestigious award,
including the BS Motoring 'Car of the year'
Award, the CNBC-TV18 'Car of the Year 2008'
Award and the NDTV Car a Bike Award for
'Compact Car of the Year 2008' as well as
'Car of the Year 2008.'
Hyundai's i10 has captured the entire gamut
of the prestigious of Indian automobile
award with its distinction and performance.
Over the last seven years, the awards have
proved to be the benchmarks for auto
excellence in India and are recognized as
the trusted word on automobile for
consumers, manufacturers and auto experts
The 'Car of the Year' awards put to test
the latest cars in India to find a car that
satisfies customers' needs. Hyundai i10 came
out with flying colours, taking it away once
HMIL Managing Director H S Lheem said, "At a
time when the market is crowded with a slew
of new products, Hyundai i10 has emerged a
clear winner. i10's victory denotes the
acceptance and popularity of the Hyundai
Motor India as a brand that has raced ahead
of its customers by its excellence in
technology and performance, eye for
detailing and finesse in design.
It's an honour for us to receive these
awards as Hyundai i10 was launched recently
and we have received overwhelming response
from our customers, dealers and the media
The i10 won various counts, including build
quality, ride, handling, driverbility,
comfort and safety features. It evidenced a
blend of compelling price tag above-average
fuel efficiency. It has won accolades for
its overall dynamics as well as the
liberating space on the inside. Some of its
features-like the centre-console mounted
gear lever and the overall fit and finish -
added to the positive impression.
All the awards won by Hyundai's i10 are
instituted to recognize the honour
excellence in the automotive field. The
CNBC-TV18 Autocar Awards are decided by a
pre-eminent panel of judges comprising
acknowledged experts from the racing
fraternity and senior industry members, as
also knowledgeable auto enthusiasts from CII
ACMA and SIAM. The BS Motoring Awards, are
adjudged by a jury who evaluate the cars on
21 parameters, including price,
fuel-efficiency and safety, along with
acceleration numbers. And the NDTV's Car and
Bike Awards are adjudged by experts
associated with NDTV Profit and Car and Bike
Hyundai has a track record in India with
Santro winning the awards in 1998, Getz in
2005 and Verna in 2006. i10 keeps the
Hyundai flag flying high by its winning edge