Central Bank of Sri Lanka (C.B.S.L.) Governor Ajith Nivard Cabraal, apart from helping the Government of Sri Lanka (G.o.S.L.) to clinch the U.S.$ 2.6 billion I.M.F. Standby Arrangement, has earned a reputation nowadays of using the phrase "if not for the war" in his speeches delivered at various seminars and press conferences.

Cabraal, in those speeches said, "Investors used to say if not for the war they would have done this or done that…"

"But now that the war is over, investors could now get on with their jobs," Cabraal used to say.

What he says may be true, but there is a catch here, he has forgotten about the global recession, that has led to a capital flight from emerging economies such as Sri Lanka and has also made international credit tight, which are disincentives for investments and makes it difficult to obtain funds for much needed development work.

The other day this reporter was speaking to a stock broker who said that if not for the recession the stock market would have had gone through the roof, similar to what took place in the brief two year period of the Ranil Wickremesinghe Government when there was "peace" in the island. Peace because of the ceasefire, coupled with the international goodwill led by the West that prevailed then, a factor that is conspicuous by its absence currently, of which these pages have had touched upon on numerous occasions in the past, made the economy tick then.

However there was a glimmer of hope in what this stock broker told this newspaper.

He said that currently global markets are on the verge of recovery which is also a positive sign for the local market.

The source further said that international fund managers, managing billions of dollars worth of funds, were now looking at emerging markets. And the fact that the island has peace, coming out of a 26 year old war is a definite plus factor, he said.

Those fund managers are on their summer holidays and will be getting back to work only this week. As such the coming weeks will be crucial to Sri Lanka, he said.

It’s also important that nothing untoward happens in the island that would jeopardize investor confidence in the island, the source emphasised.

Now that the threat of bombs going off in the city has fast dissipated after the crushing defeat inflicted on the L.T.T.E. by G.o.S.L. forces in May, which resulted in the jurisdiction of the entire island being brought under Colombo’s writ after a lapse of 26 years, it’s important that this peace is continued to be maintained to boost investor confidence further.

In this regard, lawlessness will be an issue that will have to be dealt with firmly by the State.

However, another point that this stock broker said was that the tourist season which begins with the onset of the coming winter was not something to write home about because of the global recession that has put the brakes on this industry, with Sri Lanka not getting the flood of tourists which otherwise it would have had got because of the peace factor.

However, next year is expected to be good, he said, stressing the importance of being patient until then.

The recently ended Nuwara Perahera was also nothing much to shout about as far as tourist arrivals are concerned, he said. That this was going to happen was reported on these pages a few weeks prior to the perahera taking place.

So, it will be until next year that the country will have to wait patiently for the economy to take-off, which, however would not have had been the case if not for the recession, where the take-off then would have had been almost immediate.

These pages, in this newspaper’s last week edition, quoting a banking source said that industry players had applied to C.B.S.L., seeking permission to open some 70-80 additional bank branches in the North and East (N.E.) now that the war is over.

This is a very positive development to say the least, but the rider here is to re-settle the 280,000 refugees still languishing in camps as fast as possible in their original homes for this to take place.

Screening and demining have to be expedited for these to happen.

Those refugees, though living in camps, apparently have money. That is the reason for those banks wanting to rush to the N.E., to open more branches in that sensitive area, now that peace has dawned upon this country.

In the late 1990s, the late Brigadier Larry Wijeratne (posthumously promoted to the rank of Major General after being killed by an L.T.T.E. suicide bomber), told this reporter that the people in Jaffna have money. Wijeratne, who was then the Security Forces Commander of the 51-4 Brigade in Vadamarachchi, said that at least one family member, of a family living in Jaffna, was in the West, sending money to their families back at home. As such they didn’t have to worry about how they were going to make ends meet.

The same may also be true of the Tamil refugees in Wanni. They too may be having at least one family member living abroad, and sending them money. That may be the reason why banks want to rush to the Wanni. They know that it’s a cash cow.

Nearly three months have passed since the war end.

And G.o.S.L. made a pledge to re-settle 80% of those refugees back in their original homes before the year end.

This milestone is only four months away. And it’s hoped that G.o.S.L. would be able to re-settle a substantial number of those refugees, even if it’s unable to meet the promised 80% target before the year end, due to logistical reasons.

This will not only be an exercise of G.o.S.L. wanting to keep upto its commitment of re-settling the Wanni refugees, but will also give that much needed boost to Sri Lanka’s flagging economy, which, for the first time in its history, recorded a negative 2% credit growth. Resettlement will liberate funds, hopefully for much needed development, which, otherwise would have had to be spent for the upkeep of these refugees.

And, at the same time this action would revive the dormant economies of the N.E., made dormant because of the 26 year old war, with the rest of the country’s economy enjoying the trickle down effects of such economic activity, once started.

Let not the holding of a plethora of elections be a distraction to the G.o.S.L. from achieving this goal.

Timely delivery of services and not interest rates are that which is important in microfinance, a provider of this service told The Sunday Leader.

Gamini Bandara Yapa, Senior Manager Micro Finance, Central Finance Company Plc (C.F.) said that delays in getting loan approvals and such like are that which is hurting the microfinance beneficiary.

He said that in areas like Dambulla, where the Yala season is currently being cultivated, the farmer is toiling his field from 7am to 7pm. "As such time lost in getting his loan application right is something that he can ill afford," said Yapa.

Yapa who was involved with his former employer Hatton National Bank Plc’s (H.N.B.’s) Gami Pubuduwa microfinance since its inception in the late 1980s has opened one C.F. microfinance station at Nikawatawana Grama Sevaka Division, 20 kilometres off Dambulla, with plans to open two more-at Muwanpelessa, 12 kms., off Suriyawewa, Embilipitiya and the other at Keppetipola, Bandarawela this month.

These offices will be linked to the C.F. branches in Dambulla and Embilipitiya (15 kms., from Suriyawewa) respectively.

He also has plans to expand to the North and East (N.E.), with his parent company opening a branch office in Batticaloa recently.

"On an average, virtually every family living in the N.E. has at least one family member domiciled in the West or in Australasia," said Yapa. So they have money coming in, he added.

Yapa believes that the potential for microfinance was enormous because there were a number of micro entrepreneurs who were operating outside the conventional banking system.

According to Yapa, H.N.B.’s most profitable southern branch last year, Suriyawewa, first began as a microfinance (Gami Pubuduwa) unit. It was also so in the case of H.N.B.’s Buttala branch, he said.

Yapa who has recruited three experienced field officers to scout for business in the Nikawatawana, Sooriyawewa and Keppetipola areas respectively, said that the microfinance loans that they will be offering will carry a 28% annual interest.

"When there is no microfinance credit available to the borrower, he has no recourse other than to go to the village money lender, where the interest charged may be as high as 120%," said Yapa.

Target audience will be individuals or individuals operating through groups, where in the latter case, two from the group in question will have to sign as guarantors.

"Group" (i.e. individual loans backed by guarantors) will be exclusively for women entrepreneurs. "Even individual loans will need two guarantors, but the difference is that we shall not be asking for any collateral," Yapa said.

Group loans will be exclusively for women, with each group comprising a minimum of seven and a maximum of 12 women entrepreneurs.

The value of each loan will vary from Rs. 25,000 to Rs. 50,000; with the full sum disbursed either upfront or in two instalments.

C.F. has released Rs. 18 million for this project which may be enhanced to Rs. 25 million if the company starts microfinance operations in the N.E. as well.

Yapa is also working with an Italian based microfinance donor, with the expectation of getting a further funding of Rs. 25 million for this project.

Each beneficiary will be mandated to open a C.F. savings account. Target areas are rice, big onion, potato, vegetable and dairy farming, tailoring and such like industries, said Yapa.

The tenure of the loan will be three years, i.e. in the case of project loans, while in the case of the others it will be seasonal, where the loan will be settled after harvesting the crop.

"Currently where there are no microfinance facilities available, there are instances where the farmer pledges his harvest to loan providers, such as those who supply him with chemicals and fertilizer for a pittance," said Yapa.

Even environment management plays a key role in C.F.’s microfinance loan scheme, said Yapa. "We shall encourage each of these beneficiaries to plant a tree annually and educate him on the proper use of agro chemicals to prevent unnecessary waste, which will end up polluting the atmosphere," he said.

One meets some interesting people at the most unexpected places and one such person was Manjula Dodangoda (37), whom yours truly met in a bus last Saturday.

Dodangoda said that he was the owner of this bus, and he makes a clear profit of Rs. 5,000 a day from its operations.

"I have given this bus to the driver for hire," said Dodangoda. And the contract is that he has to pay me Rs. 5,000 daily, he said. Vehicle maintenance and the diesel bill is his baby, added Dodangoda.

The bus owned by Dodoangoda does the Panadura-Colombo run. The daily hire earned by the bus is Rs. 15,000; said Dodangoda who owns a 42 seater Ashok Leyland second hand bus which he bought for Rs. 3.4 million, inclusive of its route permit recently.

"It does about eight trips a day, up and down, and earns on an average Rs. 2,000 on a trip," said Dodangoda. On good days they earn as much as Rs. 5,000 on a trip, he said.

Dodangoda who embarked on this bus business last month had been living in the Continent and in the U.K. for the past 21 years on a work permit, before his return to the island..

His logic for returning home was that he was earning around five Great Britain Pounds or six euros an hour in Europe. His last job was being attached to a transport sector organisation in Manchester. "Working for 7½ hours a day there, that translated to a Rs. 7,000 a day take home earnings," said Dodoangoda.

"But here I’m in Sri Lanka, where, virtually, without any sweat, I earn Rs, 5,000 a day from this investment," he said. "I realized that the bus business was good because when I was young, a ticket from Colombo to Panadura was a mere Rs. 5.50," said Dodangoda. But now it’s Rs. 35, he added. Besides, there is now peace in the island. Dodangoda said that his rights are protected through a written agreement, committed to by the driver.

Married to a Sri Lankan, Dodangoda, originally from Kandy, now resides in Ethul Kotte. He has a daughter. "The money I made and invested here was what I earned when living in Euroipe," said Dodangoda, who also operates a construction firm.

If what Dodangoda says is true, one wonders whether there is a case to up bus fares, which private bus operators are currently agitating for.

HNB Assurance Plc in the second quarter (2Q) ended June 30, 2009 saw profit after tax (p.a.t.) increase by 72% year on year (y.o.y.) to Rs. 18.04 million. The company in the first half (1H) ended June 30, 2009 saw p.a.t. increase by 38% y.o.y. to Rs. 33.90 million.

Hatton National Bank Plc in the 2Q ended June 30, 2009 saw p.a.t. increase by 76% y.o.y. to Rs. 996.44 million. The company in the 1H ended June 30, 2009 saw p.a.t. increase by 31% y.o.y. to Rs. 1,708.22 million.

Sampath Bank Plc in the 2Q ended June 30, 2009 saw p.a.t. increase by 20% y.o.y. to Rs. 449.05 million. The company in the 1H ended June 30, 2009 saw p.a.t. increase by 21% y.o.y. to Rs. 846.47 million.

Pan Asia Bank Plc in the 2Q ended June 30, 2009 saw net profits increase by 346% y.o.y. to Rs. 206.69 million. The company in the 1H ended June 30, 2009 saw p.a.t. increase by 165% y.o.y. to Rs. 299.15 million.

Ceylinco Insurance Plc in the 2Q ended June 30, 2009 saw net profits increase by 3% y.o.y. to Rs. 112.78 million. The company in the 1H ended June 30, 2009 saw p.a.t. decrease by 15% y.o.y. to Rs. 213.95 million.

Aitken Spence Plc in the 1Q ended June 30, 2009 saw its p.a.t. decrease by 24% y.o.y. to Rs. 293.85 million. "Weaker leisure performance has pulled down Group earnings."

Hemas Holdings Plc in the 1Q ended June 30, 2009 saw its p.a.t. decrease by 33% y.o.y. to Rs. 181.14 million.

Sri Lanka Telecom (S.L.T.) in the 2Q ended June 30, 2009 saw net profits decrease by 75% y.o.y. to Rs. 376 million. The company in the 1H ended June 30, 2009 saw p.a.t. decline by 57% y.o.y. to Rs. 1,350 million. "Negative revenue growth along with higher costs dilute earnings."

Aitken Spence Hotels in the 1Q ended June 30, 2009 saw its losses decrease by 137% y.o.y. to Rs. 114.41 million.

Lighthouse Hotel Plc in the 1Q ended June 30, 2009 saw its losses increase by 29% y.o.y. to Rs. 9.40 million.

Hotel Sigiriya Plc in the 1Q ended June 30, 2009 saw its losses increase by 20% y.o.y. to Rs. 6.19 million.

Serendib Hotels in the 1Q ended June 30, 2009 saw its losses increase by 20% y.o.y. to Rs. 12.43 million.

Keells Food Products in the 1Q ended June 30, 2009 saw its losses decline by 156% y.o.y. to Rs. 8.65 million.

John Keells Plc in the 1Q ended June 30, 2009 saw net profits increase by 35% y.o.y. to Rs. 45.62 million.

Keells Hotels Plc in the 1Q ended June 30, 2009 saw losses increase by 54% y.o.y. to Rs. 149.69 million.

Ceylon Cold Stores (C.C.S.) in the 1Q ended June 30, 2009 saw net profits increase by 120% y.o.y. to Rs. 1.10 million.

DIMO in the 1Q ended June 30, 2009 made a Rs. 51.95 million loss compared to a Rs. 17.37 million profit made in the corresponding Q the previous year.

Asian Hotels & Properties in the 1Q ended June 30, 2009 saw net profits decrease by 61% y.o.y. to Rs. 54.12 million. "Although earnings from hotels improved, earnings dipped due to ‘higher’ profit recognition on property segment in 1Q 2009."

Nestle Lanka Plc in the 2Q ended June 30, 2009 saw net profits increase by 71% y.o.y. to Rs. 421.94 million. However, the company in the 1H ended June 30, 2009 saw p.a.t. decline by 3% y.o.y. to Rs. 887.27 million.

Overseas Realty in the 2Q ended June 30, 2009 saw net profits decrease by 5% y.o.y. to Rs. 128.56 million. The company in the 1H ended June 30, 2009 saw p.a.t. decline by 4% y.o.y. to Rs. 240.52 million.

Union Chemicals in the 2Q ended June 30, 2009 saw net profits increase by 6% y.o.y. to Rs. 9.71 million. However, the company in the 1H ended June 30, 2009 saw p.a.t. decline by 5% y.o.y. to Rs. 17.37 million.

M.B.S.L. in the 2Q ended June 30, 2009 saw net profits decline by 15% y.o.y. to Rs. 36.37 million. The company in the 1H ended June 30, 2009 saw p.a.t. decrease by 11% y.o.y. to Rs. 66.13 million.

Sunshine Holdings in the 1Q ended June 30, 2009 saw net profits decline by 15% y.o.y. to Rs. 72.03 million.

Horana Plantations in the 1Q ended June 30, 2009 made a Rs. 2.6 million loss compared to a Rs. 8.39 million net profit made in the corresponding Q the previous year.

Hayleys Exports PLC in the 1Q ended June 30, 2009 increased their losses by 92% y.o.y. to Rs. 0.93 million.

DFCC Bank Plc in the 1Q ended June 30, 2009 saw net profits decline by 7% y.o.y. to Rs. 479.75 million.

Printcare Plc in the 1Q ended June 30, 2009 saw net profits decline by 87% y.o.y. to Rs. 1.07 million.

Watawala Plantations in the 1Q ended June 30, 2009 saw net profits decline by 37% y.o.y. to Rs. 37.46 million.

Dipped Products Plc in the 1Q ended June 30, 2009 saw net profits decline by 37% y.o.y. to Rs. 63.54 million.

Kelani Valley Plantations Plc in the 2Q ended June 30, 2009 saw net profits decline by 37% y.o.y. to Rs. 41.16 million. The company in the 1H ended June 30, 2009 reduced their losses by 102% y.o.y. to Rs. 4.81 million.

Hunas falls Hotels in the 1Q ended June 30, 2009 saw net profits increase by 158% y.o.y. to Rs. 1.49 million.

Kelani Tyres Plc in the 1Q ended June 30, 2009 saw net profits increase by 2,182% y.o.y. to Rs. 32.58 million.

Chemical Industries in the 1Q ended June 30, 2009 saw net profits decrease by 44% y.o.y. to Rs. 103.45 million.

Cargills (Ceylon) Plc in the 1Q ended June 30, 2009 saw net profits increase by 37% y.o.y. to Rs. 162.29 million.

Stafford Hotels Plc in the 1Q ended June 30, 2009 saw net profits increase by 117% y.o.y. to Rs. 6.84 million. "Other incomes and gains boosted profitability."

Haycarb Plc in the 1Q ended June 30, 2009 saw net profits increase by 70% y.o.y. to Rs. 88.35 million.

Located in a four acre salubrious environment overlooking paddy fields, away from the hustle and bustle of city life; a school stands tall. This school is none other than Horizon College International (HCI).

HCI at present is the only one of its kind in Sri Lanka. Why may you ask is it so? A student who enters HCI does not need to worry about which university he/she should attend to follow a degree programme. HCI offers it all under one roof on one campus from "kindergarten" to post graduate. HCI is affiliated to recognized universities in England, America, Australia, Malaysia and Singapore.

HCI is the brain child of Upul Daranagama CEO of the College. He first started with Oxford College of Business, a popular well patronized institute situated at Thurstan Road, Colombo. The Dean of the Graduate and Post Graduate faculty is managed by well known veteran educationist Dr. Egerton Senanayake.

Horizon College Principal, the latest campus at Malabe, is Mrs. Maryanne Hills. She was Principal of one of the largest private schools campuses in Pakistan known as The City School. She was also Bishop’s College Colombo Vice Principal and Regent International College Gampaha founder Principal. She possess 35 years of experience in teaching and management.

Horizon College will start its academic year next month. The Grades will be from Play Group to Grade 5 initially and in 2010 September from Grade 6 to A/L. Admissions are in progress right now. The school will follow the London Syllabus (Cambridge) The Cambridge syllabus is a popular and widely accepted syllabus in the sphere of education today. The College will maintain a high standard of education by using the best available resources, to go beyond the required standard for the London Exam so that the student will be geared to score not an average pass, but an excellent one.

The school has recruited teachers from leading International and local schools in Sri Lanka. A modern and easy up to date teaching and learning methodology programmes will be followed at the College. The primary’s large airy classrooms are equipped according to "particular themes" The furniture is beautiful. This is one of the many special aspects of the school. Each child that enters the school will have a medical card wherein all the details of the child will be documented after the required tests are done with no cost to the parent. The school has linked up with a private hospital where a qualified nurse will be in charge of the college sickroom.

Subjects taught will be English, Maths, Science, Social Studies, Computer Studies. Physical Education, Swimming, Music, Sinhala, Tamil, French/German, Dancing and Religion (Buddhism, Christianity, Islam and Hinduism). It was decided to include Tamil as this is an essential language in Sri Lanka. Horizon College will take responsibility for the students academic development and help students reach beyond the required grade by having special classes after school where necessary at no extra cost to the parent.

Yet another facility provided to the students is transport to and from the school from major transport hubs in and around Malabe. Parents need not worry about having to drop and pick their children at school. All this has been thought of and will be planned out by the college’s administration department. On completion of the buildings by the month end, the school buildings will be divided as the Primary, Middle school and Senior sections There will be two libraries, two computer labs with state of the art technology, junior laboratory and separate science labs for seniors.

To mould the "total person," the college will have all the extra curricular activities such as Swimming, Badminton, Tennis, Basketball, Netball, Cricket, Chess, Scrabble, Cub Scouts, Scouting and Girls Scouting.

Loss making Excel Global Holdings unveiled a Rs. 40 million children’s park at its premises in Colombo recently.

Owned by Francis Chokatte, an Indian and his family, who also run Trendsetters, a garment exporting firm from Sri Lanka, this park was originally leased out to P.G. Martin’s until 1½ years ago.

In the interim period, upto now, the company apparently tried various other income generating strategies, which, however were not successful.

The company’s Joint Managing Director Kiron Shenoy told reporters that the company year on year had reduced its losses, upto the financial year ended March 31, 2009.

He attributed these losses to the country situation that prevailed then, but was optimistic that they would be able to do a turnaround now that the war was over.

The firm expects to recover the above investment in four years.

Shenoy an Indian said that they plan to invest a further Rs. 60-100 million by March next year.

That will include an additional investment of Rs. 25 million on their children’s park. The company which is also into the food, beverage and banquet business, earns 35% from this sector, with the balance coming from the children’s sector.

The company has invested Rs. 500 million in these properties since the new management took over the firm a few years ago, said Shenoy.

China Merchant International Hong Kong’s (C.M.I.’s) low royalty offer has to be looked at in the context of the other charges that the Sri Lanka Ports Authority (S.L.P.A.) may earn, an official told The Sunday Leader.

C.M.I. which was the sole bidder for the first terminal to be built under the Colombo South Port development project has offered to pay S.L.P.A., the landlord, a royalty of U.S.$ 2¼ per twenty foot equivalent container unit (t.e.u.) handled in the first year, less than half the U.S.$ five offered by the two front runners in the earlier bid, Port of Singapore Authority (P.S.A.) and Hutch Ports, Hong Kong, whose bids were ultimately rejected due to a dispute between the then S.L.P.A. chairman and the Cabinet Appointed Negotiation Committee (C.A.N.C.), and the call for fresh requests for proposal (r.f.p.) as a result, to which only C.M.I. responded.

C.M.I.’s quotation is however negotiable.

The other private terminal operator at the Colombo Port, S.A.G.T., pays a royalty of U.S.$ 3 per t.e.u. to S.L.P.A., the landlord of the Colombo Port. S.A.G.T.which has the capacity to handle a million t.e.u.s. annually, has increased it to 1.5 million t.e.u.s. due to shorter ship dwell times.

In addition, C.M.I., whose technical bid was passed and whose commercial bid is currently under evaluation by the project committee headed by Janaka Kurukulusuriya, S.L.P.A. Chief Engineer, if selected, will have to pay S.L.P.A. a rental of U.S.$ five million annually for using the port premises, which amount would be increased by 3% annually over the 35 year concessionary period, as per r.f.p. conditions.

Currently the annual lease payment made by S.A.G.T. to S.L.P.A. is U.S.$ 2.2 million, having started at U.S.$ two million, when that sector, i.e. the then Queen Elizabeth Quay, was given to it on a 35 year old build, operate and transfer (b.o.t.) agreement in September 1999.

Sources said that additionally S.L.P.A. may earn money on shipping charges and pilotage, commonly known as navigational charges from ships berthing at South Port’s first terminal, whose costs have been estimated at U.S.$ 330 million by S.L.P.A., but which C.M.I., if awarded the contract, says would cost them U.S.$ 450 million to build.

The first terminal which will have the capacity to take in 2.4 million t.e.u.s once completed, is estimated to take two years to build from the date of award of contract.

Meanwhile, the breakwater of the South Port has to be built by the S.L.P.A. The breakwater, which costs U.S.$ 350 million, is being built after obtaining an A.D.B. loan for U.S.$300 million, payable over 20 years, with the first tranche due in 2012. This loan carries an interest equivalent to L.I.B.O.R. plus 0.6%. L.I.B.O.R. currently is 1%.

The breakwater, which is being built by Hyundai Korea, is expected to be on stream by April 2012.

Hertz, the international car rental company is back in Sri Lanka after a lapse of 20 years.

Withdrawing from the country at the height of the war, and having decided to return just prior to its end, a company executive told The Sunday Leader that they were looking at the long term, when asked as to why they decided to return, in the backdrop of the global recession.

However, Mahen Kariyawasan, whose firm, Andrew The Car Rental Company (Pvt.) Ltd., represents Hertz, was confident that he could recover his money in this venture in three years.

Andrews which has to pay royalty for using the Hertz name, said that some of the hotels down south were currently almost full.

On the travel advisories, he said that apart from Germany, other countries in the Continent that matter and U.K., have had softened the tone of their travel advisories.

he 2009 launch edition of Living Colombo Guide has been released to retail stores, a press release from its publisher Media Services/LMD said. The release adds that inbound tourists will also be given complimentary copies at the Bandaranaike International Airport in the near future.

Media Services says it will also be releasing a CD version of the guide at the month end (August) and this too will be retailed islandwide alongside the hard-copy version.

The all-new guide, which is printed on high-quality FSC paper, offers a comprehensive listing of services and facilities in the city and useful information such as addresses and telephone numbers of clothing boutiques, spas and hairdressers, bookshops, banks, airlines, diplomatic missions, clubs and recreation facilities, libraries, hospitals, restaurants and museums–amongst a host of others.

"The guide’s listing on more than 150 pages of restaurants in the city is an up-to-date and comprehensive directory segmented under various types of cuisine," the communiqué said.

For tourists, Living Colombo Guide provides information on exchange rates, holidays, weather and rain patterns, railways stations, festivals and events and exhibitions in the city. It also contains a fact file on Sri Lanka and a map of Colombo.

Media Services also publishes the leading business magazine LMD, bimonthly lifestlye journal Living, "most Respected," THE LMD 50 and Brands Annual.

It is also the presenter of the Benchmark, the business programme for television which is aired on TNL.

he Exterminators (Pvt.) Ltd., Sri Lanka’s leading pest control company recently achieved the ISO 14001-2004 Environmental Management System from Sri Lanka Standard Institution. The company is the only pest control company in Sri Lanka and the 3^rd in South Asia to achieve this standard.

Exterminators is one of the few companies in the pest management industry in the world to have the ISO 9001-2000 and ISO 14001-2000 standards. The standard covers quality management and environmental management systems for the provision of pest and termite control services & fumigation services.

Exterminators is setting a benchmark in Sri Lanka pest management industry and the company also implemented IPM- Integrated Pest Management System to minimize chemicals use on environment and also introduced non chemical pest control methods to the island’s pest management industry. Exterminators is licensed and authorized by ROP- Agriculture Department Sri Lanka and also accredited AQIS Agriculture Department Australia and affiliated to pest management associations in USA and Singapore. It also holds environmental protection license issued by the Central Environmental Authority.

yber Concepts (Pvt) Ltd was recently awarded ISO 9001:2008 Quality Management Certification by Det Norske Veritas (DNV) B.V., Netherlands, the world’s largest certification body.

It thus becomes the first Sri Lankan software and web solutions company to obtain this certification.

Information Communication Technology Agency of Sri Lanka (ICTA) selected Cyber Concepts from several other competing companies and funded 75% percent of the certification cost under the World Bank funded ST13–Company Quality Certification Programme.

Cyber Concepts CEO Ravi Rajapathirane said that the company focuses on developing software for the local industry where product customisation will have a greater advantage over imported software.

"We will help save foreign exchange by winning the confidence of the local industrialists and encouraging them to use Sri Lankan software over the more expensive foreign imports".

The Company’s development team is led by Chief Software Architect Ms.

Krishjian Rajapathiarne, a BSc. Honours graduate from Colombo University, counting over 20 years in IT industry working in multinational companies which includes Uni Lever and PricewaterHouseCoopers.

The team consists of young software professionals, mostly graduates from Sri Lankan universities.

"We began operations eight years ago focusing on the SME sector in Sri Lanka and worldwide. We have thus been developing customized software and web solutions to local and overseas markets in Enterprise Resource Planning, accounting, stock and inventory control, E-Commerce Solutions and IT Consultancy", Rajapathirane said.

"We have also participated in many Government projects including the e–Sri Lanka Development Project where Cyber Concepts developed a common Web portal for all 25 district secretariats and 340 divisional secretariats, which are the Government’s local service delivery point," he added.

anka ORIX Leasing Company PLC’s (LOLC Group’s) IT arm, Lanka ORIX Information Technology Limited (LOIT), a company specialized in developing applications systems to the banking and financial services sector attained Gold Certified Partner status (G.C.P.s) in the Microsoft Partner Programme.

LOIT fulfilled the competencies in the areas of Information Worker, Networking Infrastructure and Advance Infrastructure Solutions. As a Microsoft G.C.P., LOIT has demonstrated expertise with Microsoft technology and "proven its ability to meet customers’ demands and requirements to the fullest." With this LOIT managed to build a strong technical team with required capabilities.

"We are pleased to have attained G.C.P.s in the Microsoft Partner Programme. This opens a new world for our business opportunities in Microsoft Platform based solutions. By virtue of us being able to carry logo, we are able to outwardly show our competencies and convince potential customers. I thank the LOIT Microsoft competency team who made it happen and we are committed to build other competencies in Microsoft Technologies which will further enable us to promote our relationship with Microsoft to our customers," said LOIT Managing Director/CEO Conrad Dias.

Along with the Microsoft G.C. Partnership, LOIT received several benefits that will help the company to serve customers "better and faster." These include advance access to the latest Microsoft platforms and development environments, new software and products licenses to test drive and carry research and development, training, exclusive web casts and direct access to Microsoft technical support.

This award is another milestone in a series of initiatives LOIT has undertaken as a fast growing and focused ICT company. LOIT is a "focused" partner of Oracle Corporation USA that offers Oracle Application Consultancy to the market. The company has obtained ISO 27001:2005 certification for the Enterprise Data Centre managed by LOIT for LOLC Group which makes it the first ISO 27001 certified data centre in Sri Lanka’s banking and financial services sector.

LOLC’s product portfolio ranges from Leasing, Asset Financing, Hire purchase, Loans, Working Capital and Factoring, Fleet Management, Insurance Services, Agro and Micro Financing and also non-financial solutions such as IT, Project Development, Real Estate and Forestry, while its subsidiary Lanka ORIX Finance Company Ltd. offers Savings and Fixed Deposits, NRFC & RFC Accounts, Islamic Financing and Pawn Broking to its customers.

Asian Alliance Insurance (AAI) recognizes passion for excellence & professionalism year on year, celebrating excellence and quality of their team’s performance with a view to shaping and motivating higher standards of achievement and spawning a new breed of professionals for the future.

AAI celebrated their 8th Annual Sales Convention-"Quality Awards 2009" recently. The awards ceremony was held on a grand scale under the theme of "Power the Difference".

Chief Guest was AAI Chairman Paul Ratnayeke while Director/CEO Ramal Jasinghe along with executive committee members & senior management graced the occasion.

Provincial Sales Manager Kapila Suriyaarachchi began the evening rewarding the achievements of professionals through his welcome note.

Sales & Marketing General Manager Chula Hettiarachchi shared the Company’s achievements and provided a sneak preview of the future plans unveiling the theme "Power the Difference". In his address, he highlighted AAI’s initiatives that will enable this change and provide more power to the team of energetic and dedicated professionals in making the difference in the fiercely competitive market place.

Chairman Ratnayeke in his speech underlined that the Board together with the shareholders look forward for greater achievements of the talented sales force with confidence. He also said that taking on new opportunities that arise within a post war Sri Lanka will enable AAI to strengthen the positioning of the Company amongst the competitors.

Jasinghe commending the achievements of the team and reinforced the values that the Company subscribes to without compromise. Addressing the challenges in the competitive insurance marketplace as well as the threats that prevail in the current economic backdrop, he positioned the Company’s performance and placing within the industry as a force to be reckoned with.

Jasinghe stressed that the unique business strategies & processes that AAI follow has driven the Company towards success in turbulent times. Defining his role in the greater scheme of things for the Company, he concluded his speech, requesting the energetic team of professionals to "Power the Difference" & introduce new benchmarks to the Industry for others to follow.

Kottawa Regional Distribution Office’s C. Upul Jayasekara was awarded Best Performer of the year, while Moratuwa Divisional Office’s Jayantha Amarasinghe claimed the Asian Alliance’s Most Valuable Sales Person Award.

Senior Regional Distribution Manager Kottawa Soma Hettiarachchi was awarded Best Regional Distribution Manager while Colombo Central’s Ms. Chintha Wijerathne & Gampaha’s Parakrama Balasooriya claimed the runner up awards. Kottawa’s Upul Jayasekara was awarded Best Field Manager 2008.

Abans Financial Services Ltd. (AFSL) opened its Kandy City Window, an extension of their Katugastota Branch recently.

It was opened by Kandy Mayor.L.B. Aluwihare. Located at D.S.Senanayake Vidiya, Kandy amidst a large gathering of Kandy City’s business community, deposits over Rs.23 million was mobilized on the opening day.

AFSL Managing Director Mrs. Mano Alles while thanking those present, also thanked the company’s loyal customers for placing their confidence in it in its formative years and for having had supported them during the turbulent period.

She also said that with the economic resurgence and public confidence returning, AFSL was now ready to launch on its next phase of growth to expand its operations to a wider spectrum of the country and enable more people to become players in the formal economy.

Investors and businessmen in Kandy said they welcome Abans Finance as a safe and solid finance company to invest their money and to also seek a range of financial products and services.

With the return of confidence in financial institutions, Abans Finance has recorded a marked improvement in deposits and savings in June 2009, and is currently conducting an aggressive campaign to mobilize deposits. The entire staff has been geared to take up this challenge.

AFSL, a member of the Abans Group of companies with just three years in operation has become a leading player in financial services, and growing at a steady pace with the opening of new branches and windows throughout the island.

Central Bank of Sri Lanka has announced that it proposes to list all registered finance companies in the Colombo Stock Exchange by 2011. This move will certainly increase the level of public confidence further.

Bharti Airtel Lanka (Pvt) Ltd., on Thursday entered into an exclusive agreement with Nokia, wherein customers who buy Nokia handsets can receive an Airtel handset bundle offer.

The exclusive deal is obtainable through Softlogic, Nokia’s National Distributor in Sri Lanka and its dealers and registered retailers islandwide, in addition to all Airtel Stores and Airtel dealers, totalling well over 3,000 outlets islandwide.

Nokia Emerging Asia General Manager Prem Chand said, "Consumers are at the forefront of everything we do at Nokia and we always welcome opportunities to work with relevant stakeholders to offer ‘irresistible’ solutions to consumers. We are delighted to launch this joint promotion with Airtel which would benefit Sri Lankan consumers and help them to be connected to what’s important to them." "Optimising value to deliver customer delight will remain a focus at Airtel. Our partnership with Nokia is a pioneering effort in that regard. Providing value at customer touchpoints has now been enhanced through the collective expertise of both Airtel and Nokia in one bundle," Bharti Airtel CEO Amali Nanayakkara said.

Maleen Abeydeera (20) is a shining example of how CIMA Sri Lanka continues to shape many a young talented business leader who is sharp, competent and fresh.

Abeydeera is CIMA’s latest world prize-winner, scoring the highest marks in the world (94) for Financial Accounting and Tax Principles at the May 2009 Exam.

A Royal College student, Abeydeera started CIMA’s basic foundation stage when he was just 16 due to his parents’ advise. He recently entered Moratuwa University’s engineering faculty. Abeydeera represented Sri Lanka at the International Mathematical Olympiad held in Vietnam in 2007. He considers it as his finest achievement so far, along with this CIMA world prize.

The purposeful youngster is into swimming, badminton and cricket in his free time and has a lot going for him. He says he owes this world prize to the encouragement, dedication and support of his parents and the CIMA lecturers.

According to Abeydeera, more than the subject knowledge CIMA lecturers provide students with, it’s the sharing of experiences in the corporate world which is really valuable. He says, "What matters finally is not how you do at exams, but how you perform in the real world."