The Sunday Leader Online

Multi billionaire Rusi Sohli Captain (40), the single biggest shareholder of the blue-chip conglomerate John Keells Holdings Ltd (JKH) will pay Rs 405 million in a deal to buy Imperial Chemical Industries (ICI), UK's voting and non-voting stakes in Chemical Industries (Colombo) Ltd (CIC), a quoted company.

"The transaction will be worked out in another two weeks time," Captain told The Sunday Leader.

Paints and General Industries Ltd (P&G), a company controlled by the Captain family is the single biggest shareholder of CIC with a 40.9% stake in the company.

Captain also has a 21% stake in JKH, which, according to JKH's Thursday's traded price is valued at Rs 13 billion. JKH has a total of 398 million shares on issue and on Thursday its shares closed at Rs 155.25 a share.

Meanwhile, CIC's second biggest shareholder is ICI which has a 25.57% stake (2,071,498 shares) in CIC.

Captain's deal comprises buying this stake at Rs 150 a share as well as ICI's non-voting shares stake totalling a 14.86% holding (361,199 non voting shares) at Rs 95 per non-voting share.

CIC shares last traded (upto Thursday) at Rs 200 a share for voting shares and at Rs 118 a share for non-voting shares. With the purchase of ICI's stake, Captain and connected parties stake in CIC will increase to 66.26%.

However, Captain said that he has no intention of getting into the Board of CIC. "It is a well-run company, I have no intention of interfering with its workings," he said.

The CIC Group, which business includes the vendoring of paints, agro-chemicals, fertilizer and pharmaceuticals to the local market made a turnover of Rs 10.6 billion in the financial year ended March 31, 2005 and profit after tax after minority interest of Rs 312 million.

CIC has a total of 8.1 million voting shares and 2,430,000 non-voting shares on issue.Captain in a recent press notice said that he intends to make an offer in accordance with the Company Takeovers and Mergers Code to buy from the shareholders of CIC all the ordinary and non-voting shares of CIC at a price of Rs 150 per voting share and Rs 95 per non voting share respectively.Rusi Captain has shareholdings in P&G and Ranweli Ltd., the statement said. P&G owns 3,247,011 ordinary shares and 7,510 non voting shares of CIC amounting to 40.9% and 0.3% of CIC and Ranweli owns 5,512 ordinary shares of CIC amounting to 0.6% of the total number of such ordinary shares.Sohli E. Captain (a connected party to Rusi) owns 279 non voting shares of CIC amounting to 0.01% of the total number of such non voting shares. P&G, Ranweli and S.E. Captain have indicated that they will not be accepting the offer, the statement said. Hence the number of remaining shares as at the date of this offer is 4,847,477 ordinary shares of CIC and 2,422,211 non voting shares of the company.The notice said that ICI, a public quoted company in the UK and the owner of 2,071,498 ordinary shares amounting to a 25.7% stake in the company and a further 361,199 non voting shares amounting to 14.86% of the non voting shares of CIC has agreed in principle to accept the offer.

Captain however said that this offer which closes on December 12 had, other than ICI, no other interested parties who were interested in selling their stakes in CIC to him."This may be because the offer prices are lower than the prices these shares currently fetch in the market," Captain said.Among the other major shareholders of CIC (as at March 31,2005) are S.K. Wickremasinghe (2.13% stake), Colombo Fort Investments-a company controlled by R. Senathiraja of Julius & Creasy-1.39%, D.F. G. Dalpathadu-1.39%, J.B. Coco Shells (Pvt) Ltd- a company controlled by Jafferjee Brothers-1.25%, HSBC-Comtrust Equity (1.14%), M. Radhakrishnan (0.83%), N.K. A. de Silva (0.76%) and D. Pathmanathan (0.75%).

Among the other main holders of CIC's non-voting shares are Kuwaiti national M.M.P.T. Al Nakib (23.78%), J.B. Coco Shell (8.97%), Waldock McKenzie Ltd (WML)-O.M. K. Omprasadham (4.32%), SLIC General Fund (3.47%), WML-H.M.S. Abdul Hussein (2%) and Trade Finance and Investments (1.66%).

Uncertainty to continue to impinge bourse

The bourse at Friday's trading recorded its lowest turnover in five months, registering a figure of Rs 143.6 million as uncertainty gripped investors with regard to what Thursday's budget would hold out to them.

"It is now a seeming certainty that fertilizer would be sold to the farmer at a subsidized rate of Rs 350, costing the ex-chequer Rs 12 billion to keep prices at these levels, what is now in the minds of the investor is who would foot in this bill," market sources said.

"Will the budget therefore mean increased taxes, or does it mean that the government would print new notes, fuelling inflation?" these are some of the fears that are besetting investors, the sources said.

They would position themselves only after the budget, till then, it will be a 'wait and see' attitude, adding that the 'bearish' sentiment on the market would continue at least up to the run-up to the budget.

Another pressing fear among investors is whether the nearly four year old 'peace' would continue to hold, the sources said. The market is still trying to come to terms with the 'shock' defeat of UNP Presidential candidate Ranil Wickremesinghe, deemed to be market friendly, though his defeat took place a fortnight ago, the sources said.

When the UNF government won the December 5, 2001 parliamentary elections, the bourse, in the first three days of trading gained by 300 points, but the election of Mahinda Rajapakse to office on November 17 has seen it lose by almost that amount since, the sources said.

"The market is dead," one senior stockbroker said, whose claim was buttressed by a high networth individual (HNWI). Before Friday's low turnover figure, the lowest that the bourse had recorded till then was Rs 113 million which was on July 18.

Meanwhile, the benchmark ASPI closed at 2,257.44 points, down 12.93 points over Thursday's closing figure, while the more sensitive MPI closed at 2,881.23 points, down 17.85 points. The week ended with market capitalization down by Rs 3.9 billion over Thursday's closing figure to finish at Rs 685.7 billion.

The only seeming silver line at Friday's trading was a foreign institution picking-up Rs 40.2 million worth of JKH which constituted two thirds of Friday's total foreign purchases-a figure of Rs 65.4 million. Foreign sales were Rs 49.9 million.

Among the main contributors to the day's trading were JKH Rs 44 million on a share volume of 284,200. JKH closed at Rs 155, 25 cents less than its previous. SLT Rs 28.1 million on a share volume of 1.4 million.

HNWI Rusi Captain is believed to have picked-up 300,000 shares of SLT at Rs 20 a share at Friday's trading. SLT closed at Rs 20, 25 cents less than its previous. Aitken Spence Rs 14.4 million on a share volume of 41,200. Spence closed flat at Rs 350. And Commercial Bank, Rs 8.5 million on a share volume of 53,400. Com Bank closed at Rs 157.50, Rs 2.50 less than its previous.

Dankotuwa Porcelain to go into trading to reverse losses

Dankotuwa Porcelain Ltd. (DPL), a porcelain tableware manufacturer may import cheap Chinese porcelain products and similar products and sell them in the local market in a bid to reverse its losses.

"Though Dankotuwa, which specializes in the manufacture and sale of tableware porcelain products that are superior in quality to the Chinese products, the discernment of a good porcelain tableware product is generally lacking among local consumers," its Chairman and Managing Director Sunil G.Wijesinha (56) said in an interview.

"Chinese products are three to four times cheaper than the local products," he said. "Our dealers therefore prefer to sell Chinese products over that of ours," Wijesinha said.

Local sales bring in a monthly revenue of around Rs 15 million of which Rs five million is through the dealer network and the balance shared equally between show room sales and hotel sales.

"We are currently drawing up a strategic plan which would give a more comprehensive picture on how we hope to increase sales," he said, adding that this plan is expected to be completed by next month.

He however said that his company will not abandon its core business, the manufacture of porcelain tableware products. Trading will only be a supplementary source of income, he said.

But in a bid to create a 'taste' among local consumer for quality porcelain tableware, DPL plans to launch a 'below the line' advertising campaign in the local market, he said.

untouched so far, he said. Wijesinha also said that new security requirements governing exports to the US market were further affecting costs due to expensive investments in equipment that they had to make in order to be compliant.

Two of Dankotuwa's importers are the US based Walmart and Macey's departmental stores which together annually buy nearly $ 1.2 million worth of porcelain products from DPL.

"By the end of next year DPL will have to invest in close circuit TV cameras (CCTVs) in the packing area to ensure that germs such as anthrax or bombs are not surreptitiously passed into packages that are destined to the USA," he said.

"As it is, container trucks transporting goods from the factory to the port for onward shipment to the USA have to be accompanied by a man armed with a mobile phone so that he could inform the authorities in the event such trucks are hijacked in order to be compliant with another aspect of the USA's new security requirements which is an added cost," said Wijesinha.

"And we cannot increase our export prices in a scenario where our foreign agents are asking us to reduce prices," he said. Wijesinha further said that a part from security audits, they are also subjected to social audits by their US buyers.

"US buyers have restricted monthly overtime hours to 60 hours, as a result I have to check whether my driver has not exceeded these limits because I have to frequently commute from our Colombo head-office to the factory at Dankotuwa which is located over 40 miles away," quipped Wijesinha.

He said that another market that Dankotuwa is looking at to boost sales is the Middle Eastern market. "We used to sell gold painted porcelain products to the US market till five years ago after which it lost popularity in that market," said Wijesinha.

The gold that we used for such decorations is 24 carat gold imported from Germany, he said. "However, there is a market for such products in the Middle-East and we are looking at avenues to increase sales in that region through our agent who operates from Dubai," he said. "Currently that market makes only a marginal contribution to our sales turnover," added Wijesinha.

Despite a seemingly gloomy outlook for Dankotuwa, the company plans to stay put in Sri Lanka.

"Our labour (the company has 1,200 employees) is highly skilled and artistic and much of the dcor on our tableware is hand-painted, it is difficult to find such skills, where some of the paintings require high skills, elsewhere in the world," said Wijesinha.

DPL's single biggest shareholder is International Ceramic Inc., Japan and connected companies which have a 45% stake in it. Though only 55% of DPL's raw material requirements such as Kaolin (clay) are imported, they account for over 90% of the company's total raw material costs.

Wijesinha said that one of the strengths in DPL's products is its whiteness due to the superiority of the Kaolin that it uses. This raw material is mainly sourced from New Zealand. He however said that high energy costs were affecting the company's competitiveness. The company uses electricity, industrial gas and diesel in its production process.

Energy costs have increased by 50% during the past two years to Rs 25 million monthly, he said. Forty per cent of the company's cost of production constitutes energy, the raw material component (25%) and labour (19%), he said.

The company earns 20% of its revenue from local sales and the balance on exports, mainly to the Spanish and Italian markets. Wijesinha said that interest in tableware among local households was declining because more and more families prefer eating and entertaining out rather than in their own homes.

"As a result we have launched a campaign targeting the hotel sector," he said. Some of the new restaurants in Cinnamon Grand (formerly Colombo Plaza) are using our tableware," said Wijesinha.

The company which enjoys BoI status (which expires in another five years time) because it exports 80% of its products made a loss of Rs 69 million in the first nine months of this year compared to a profit of Rs 7.9 million in the corresponding period last year.

Wijesinha expects the company to end the year with a loss of Rs 80 million, compared with a profit of Rs 37 million in 2004.

He attributed two chief reasons for these losses: An investment in a second hand German kiln at an initial cost of Rs 210 million, but which investment has since increased to Rs 350 million due to the requirement of ancillaries and the other reason, the appreciating rupee.

"As a result we have suffered an exchange rate loss of Rs 65 million so far for the year," he said.

Wijesinha said that the European market which brings in 70% of their export turnover was badly hit when the Euro which was trading at Rs 140 last December had slumped by Rs 23 to be currently trading at Rs 117.

"Even the US market is being threatened by the influx of cheap Chinese products, said Wijesinha. The European market however has been relatively untouched so far, he said. Wijesinha also said that new security requirements governing exports to the US market were further affecting costs due to expensive investments in equipment that they had to make in order to be compliant.

Two of Dankotuwa's importers are the US based Walmart and Macey's departmental stores which together annually buy nearly $ 1.2 million worth of porcelain products from DPL.

Despite a seemingly gloomy outlook for Dankotuwa, the company plans to stay put in Sri Lanka.

Food prices increase

The seasonal slump in harvest resulted in higher food prices last month, the Central Bank (CB) in a press release said.

The food category with its higher representation in the CDCPI computed by the CB for the lower 40% of income earning households covering the Colombo District was the major contributor to the monthly increase of the CDCPI.

The twelve month moving average of the Food sub index with a representation of around 60% in the overall index recorded an increase last month. Most varieties of rice, coconut, certain condiments including chillies, lime and onions, most varieties of fish and vegetables, potatoes, beef and lentils registered significant price increases.

Meanwhile, rice (samba), eggs, most varieties of fruits, a few varieties of fish and vegetables, certain dried fish varieties and tea dust experienced price decreases during the month.

Within the Food sub index the annual average decrease recorded for the price of rice (kekulu) which bears a significant weight in the index was around 4%.

The twelve month moving average of the prices of all varieties of fish and meat increased at different rates in a range of 8-30%. Coconut and coconut oil prices too increased by 35 and 14% respectively.

Vegetables having a higher representation in the index too marked increases in their twelve month moving average upto last month.

Most upcountry vegetables marked price increases between 11 and 54%, while the rise in low country vegetable prices were within a range of 7 to 22%.

Among key imported consumer items, wheat flour and bread marked annual average price increases of 9% and 16% respectively, while the annual average price of dhal and sugar increased by around 12%.

The net impact of all these price movements led to an annual average inflation rate of 10.5% as measured by the CDCPI last month.

However, the increasing trend of the annual average change in the CDCPI which started since the second half of 2004 reversed in the month of September 2005 and continued into last month as well.

A further fall in point to point increases was observed with the subsequent drop in annual average inflation for the third consecutive month, which stood at 12.1% and 10.5% as per the CCPI and CDCPI last month.

The CCPI, the official measure of price changes within the Colombo Municipality for the lowest 40% of income groups published by the Census Department registered 4,172.9 in last month, indicating an increase of 2.2% over the previous month.

The increase in the index in November 2005 over November 2004 (the point to point change) was 9.1% compared to 10.4% in October 2005 and 13.1% in November 2004.

Accordingly, the annual average increase of the index dropped to 12.1% in November from 12.5% in October 2005.

The CDCPI, computed by the CB for the lower 40% of income earning households covering the Colombo District increased by 1.7% last month over October 2005.

The point to point increase was 5.7% compared to 6.8% in October 2005 and 10.6% in November 2004. Accordingly, the annual average increase of the index dropped to 10.5% last month, from 11% in October 2005.

Of Karr and all things nice..

By Ranee Mohamed

Speaking of hospitality is like learning to swim from a book. Coloured brochures about hospitality too are nice on the eye, but fail to touch the heart. But what The Colombo Plaza did when they became The Cinnamon Grand on November 26 is a once in a life time experience.

It was hospitality in practice - there for all to experience and know what everyone else is talking about. The hotel management treated us to an indulgence unmatched, opening a world of grandeur, elegance and abundance.

It was not just a cocktail or a mere dinner - it was a total dining and wining experience. Beginning on November 26 with an understated cocktail. The event climaxed into the night with an abundance and hospitality that only Cinnamon Hotels and Resorts CEO and JKH's Executive Vice President Rohan Karr could have dished out.

The hors d'oeuvre of the evening was merely a foretaste of things to come. As the night grew, the dim lights seemed getting dimmer with the different wines in hand, the food 'sizzled' from seafood was as exotic as octopus to large smoked salmon. It also included spring rolls, 'wontons' and dumplings to lamb chops, salads, cheese, all kinds of meats..all kinds of food, which was complemented by sumptuous desserts.

The Hotel's P.R. Manager Tharika Goonetilleke was always at our side, concerned about our wellbeing and satisfaction.

For all this comfort there was sacrifice. It was noticeable that Karr and his team had seemingly not slept a wink, toiling so that we would be happy and full. One could see it in their eyes.

But they were smiling, happy as the guests indulged themselves, joining us in our all night partying of champagne, music and laughter.

With all this grand partying - with all the food and all the wine, the guests would have expected Cinnamon Grand to spare them of breakfast. But no! Sharp on time, at 8am - the breakfast buffet began with kiribath, hoppers, roti, special omelettes, fresh fruit juices, thambili, cheese, sausages, 'hash brownies'.. in short everything one can simply imagine.

More was to follow, a brunch ranging from 'Isso Buth', pepper chicken and baked seer to lobster sausages, venison, rabbit and pasta to Indian foods. all in a breathtaking array.

The wonder of its all were the exotic pails filled with exotic cherries, peaches and strawberries, so fresh they were that one could almost touch the dew drops on them.and not even local fruits were spared..every kind of food, every kind of fruit were all a part of the indulgence, a part of the hospitality at Cinnamon Grand.

And while the guests were enjoying their cheese after the grand brunch at the Atrium, down below at the lobby preparations were being made for High Tea, personally supervised by Karr.

Hot chinese rolls, fish sandwiches, egg, cheese and chicken salad sandwiches arranged in silverware, mutton samosa, chocolate, ribbon and date cakes and every imaginable tea cake were served, while we were indulging in brunch.

We remembered Karr's words on Saturday night, "little things go a long way.." But they were more than little. Cinnamon Grand has a host of restaurants, Asian Fusion, Seafood, British, Fine Dining, Italian, Indian.if I remember correctly are some of them. Cinnamon Grand is the only hotel that will have more than ten restaurants," Karr told the mesmerized guests. The friendly CEO has become the most talked about go getter in town who revolutionized hospitality.

John Keells Holdings (JKH) Chairman Vivendra Lintotawela speaking to the guests on Saturday evening said: "Today we unveil the new brand and with it a new genre of hospitality services that would delight and amaze. There is much more to look forward to."

Announcing plans to invest significantly in its hotel portfolio over the next five years, JKH Joint Managing Director Ajit Gunawardene said that they were now the largest owner and hotel operator in Sri Lanka with more than 2,100 hotel rooms under their umbrella. We are at present ranked number five in the South Asian region" said Gunawardene. Susantha Ratnayake, Deputy Chairman was also present at the event.

Resident Manager Yasmin Cader delivered the vote of thanks in which she said that the Cinnamon Grand is the place to be in..

Star treatment

The five star treatment given exclusively to Honda owners in Stafford Motor Co. Ltd.'s serene customer lounge equipped with TV, internet, games and refreshments while they wait till repairs to their vehicles are effected are a definite 'first' in the industry, a press release said.

It said that Stafford's new state-of-the-art automobile service complex (ASC) of which was opened in August and built at a cost of Rs 60 million is equipped with the most modern equipment and has triple the square area of the previous automobile service facility. It is located at Stork Place, Colombo and is only a few metres away from Stafford's head office.

Customers would be able to check their Honda automobiles with the Honda Diagnostic System (HDS), which gives accurate readings on Body Electrical, ABS, SRS, EPS and Immobilizer System and which will detect any deficiency in these areas.

Further, the complex is equipped with a quick repair bay for urgent work, a Paint Booth to undertake painting in any weather condition and advanced gadgets such as electronic sound detectors and auto transmission fluid pressure testers.

The new Body Alignment Machine that has been installed in this facility would enable the straightening of crashed chassis' to the exact millimeter and would ensure safety when the vehicle is back on the road.

The release quoting an unnamed Stafford official said that the only 'old' item in the new complex would be the well experienced, Honda trained staff and mechanics who have been satisfying the customers year after year.

Meanwhile, Stafford, the sole authorized distributor for Honda Automobiles in Sri Lanka, is having a 'Free Inspection Campaign' for all Honda Automobiles manufactured from the year 1996 onwards.

The communique said that this campaign would be held over five days beginning tomorrow with the participation of a Japanese Honda engineer at the afore-mentioned state-of-the-art service complex.

NDB's profits increase by 13%

The NDB Group's financial statements for the nine months ended September 30, 2005 which reflected the merged position of National Development Bank Ltd and NDB Bank Ltd., saw profit attributable to shareholders increase by 13% over the corresponding period last year to Rs 759.6 million in spite of the effective tax rate for the period rising to 37% compared with 29% in the corresponding period last year. The Bank in a press release said that the merger which was finalised on August 1, 2005, saw NDB Group recorded profit before tax of Rs 1,348 million for the period under review, a year on year (YoY) increase of 28%.

Net interest income and net other income increased by 21% and 7% respectively over the comparative period. Net interest income of Rs 1,959 million was a 21% YoY increase. 'This was mainly due to the increase in the lending portfolio of the commercial banking operations of Rs two billion.'

Faster growth in commercial banking lending compensated for the slight decline in long term loans. There was also an increase of Rs 56 million in commercial banking fees, foreign exchange and commission income over the comparative period.

Overheads have risen by 21% over the corresponding period last year primarily due to the substantial investments made in new branches increasing the network from 13 to 23.

This considerable expenditure now, will realise benefits in future years.

With the expansion of the commercial banking franchise, customer deposits have increased by Rs 2.3 billion(21%). The merged Bank's portfolio quality continued to improve with NPLs reducing from Rs. 2,518 million as at last year end to Rs 1,885 million as at September 30, 2005, a reduction of 25%.

The NPL ratio for the Bank was 5.2% compared with 9.9% as at December 31, 2004. Total provisions as a percentage of NPLs for the Bank was 93%, while specific provisions coverage was 85% in the period under review.

Meanwhile, the Group's subsidiary Eagle Insurance Company Ltd.'s consolidated revenue for the period was Rs 3,020 million, reflecting a growth of 14% over the previous year. Gross written premium for life and non-life insurance of Rs 2,732 million also grew by 14% over the previous year.

Operating profit for the period of Rs 145 million was 27% over the first nine months of 2004.

Other subsidiaries NDB Investment Bank and NDBS Stock Brokers also contributed significantly to the profit growth of the Group due to improvedmarket conditions.

DHL to have their own office

DHL, the world's leading express and logistics company, on Wednesday announced their investment in a new country office in Sri Lanka, reinforcing DHL's commitment to the country.

Slated for completion in November 2006, the purpose-built 40,000-square-feet office at Vauxhall Street , Colombo will house both the administration and operations arms of DHL in Sri Lanka.

This new country office will feature state-of-the-art shipment handling and security systems, including digital surveillance systems, access control, a quality control centre and a larger shipment processing area.

This investment aims to capture the strong anticipated growth in Sri Lanka and highlights DHL's confidence in the market, which has recorded double-digit growth in the last couple of years.

DHL Express Asia Pacific Chief Executive Officer Scott Price in Colombo for DHL Sri Lanka's twenty fifth anniversary celebration, laid the foundation stone for the new office complex. The release quoting Price said that Sri Lanka is an important market for them. "We have been enjoying double digit growth and market dominance. This new country office will enable us to continue to provide our customers with safe and reliable products and services, as well as expand our operational capacity."

During his visit, Price met with Sri Lanka's Ports and Aviation Minister Mangala Samaraweera and thanked the government for promoting the development of the air express industry.

He also visited DHL's Gateway/Customs Bonded Warehouse in Ja-Ela with its new Quality Control Centre (QCC) and took a closer look at DHL's operations in Sri Lanka.

The QCC, the first of its kind in Sri Lanka, serves as the nerve centre for all DHL Sri Lanka's shipment movement control, providing real-time visibility and proactive operational crisis management 24 hours a day, seven days a week.

During his visit, Price highlighted DHL's Corporate Social Responsibility activities across the globe and underlined the company's commitment to support the ongoing tsunami rehabilitation efforts in Sri Lanka. He noted DHL's recent donation of $60,000 to the Gangaramaya Temple, to be used for a 'Shop-House' housing project at Seenigama, where 50 shop houses will be built for displaced families.

During discussions with the media, Price spoke about DHL's growth, future plans and market trends in Asia Pacific. He also attended a business review session with the DHL Sri Lanka team.

Training for sales team

Life insurance leader Ceylinco Life has taken another step in its efforts to promote professional development amongst its sales force with the launch in Sri Lanka of the first ever 'Producer Development Series' of programmes developed for the financial services industry, a press release said.

Introduced two years ago by the US headquartered Life Insurance Marketing and Research Association (LIMRA), the Producer Development Series focuses on how to sell financial services and covers many practical aspects of the insurance sales agent's job.

The objective of this training programme is to get the sales agents off to a fast, productive start in the business and to give them the tools that will help them sustain a high level of productivity.

LIMRA's producer series consists of training in three stages of a producer's development - fundamental, intermediate, and adviser level and leads to Associate Financial Adviser(AFA), Professional Financial Adviser (PFA) and Master Financial Adviser (MFA) designations for successful participants of each stage.

"Ceylinco Life is proud to once again be the pioneer in professional development in the local industry," the release quoting the company's Chief Executive Director R. Renganathan said.

"We believe that the professionalism of our staff at all levels has been one of the factors that propelled us to market leadership in a relatively short time, and we are committed to continue to be the benchmark insurer in professional development."

According to LIMRA, companies with well-trained producers also experience an increase in producer retention and an increase in persistency of the business the producers sell, leading to sustained bottomline profit.

Other countries in which the Producer Development Series have been introduced are Canada, Korea, Romania, China and Australia. Ceylinco Life was the first local insurance company to produce qualifiers to the Million Dollar Round Table (MDRT) and the first to introduce professional development courses for qualifications such as Chartered Insurance Agency Manager (CIAM) awarded by LIMRA and the first to conduct programmes of the Life Underwriter Training Council (LUTC).

The company also provides laptop computers to its sales force and has invested in the latest policy administration IT system known as Life Asia which is used by more than 80 of the top life insurers in the region.

LIMRA was established in 1916 to help its member companies maximize their marketing effectiveness. For nearly a century, the Association has offered its clients insight in the form of cooperative research and value-added marketing and distribution expertise. This insight helps member companies identify trends, evaluate options and implement solutions.

As a member-owned organization, LIMRA is dedicated to meeting the marketing information needs of companies involved in 'marketing annuity', disability, health, life, mutual fund, and retirement savings products.

Bonanza for HNB cardholders

"If you are the proud holder of an HNB credit card you will be entitled to an amazing set of opportunities to win prizes and great special offers this festive season."

A press release said that to be eligible to get a slice of the Rs. two million on offer, all that an HNB cardholder has to do is to use his/her HNB credit card this month (December). "We are offering a series of prizes on a daily and weekly basis whereby we would reward our cardholders who decide to use their credit card to do their festive shopping this December," the release quoting Keerthi Wijeratne, Chief Manager and Head of HNB Card Centre said.

Explaining further he said that whenever an HNB cardholder uses his/her credit card for a minimum of Rs. 1,000- on any day, that card would immediately become eligible to win one of two prizes for that day.

Firstly, the highest user for the day, 'everyday' this month will win a prize of Rs. 20,000 provided the minimum transaction is Rs.1,000.

Cardholders are also eligible for a daily draw where they can be the lucky winner of Rs. 10,000. All they have to do is make a minimum purchase of Rs. 10,000 on their HNB Card. This prize money can be doubled to Rs. 20,000 if the cardholder sends an SMS to 07736631 66 giving the credit card number.

In addition to these prizes, HNB Card Centre is offering a further mega weekly prize every week for the lucky winner of a draw where the total amount spent by any cardholder during that week (minimum Rs. 1,000) will be subject to a draw with one chance per Rs. 1,000 spent. The value of this prize is an unbelievable Rs. 100,000 per week.

"The whole concept behind this scheme is to reward the loyalty that our cardholders have shown towards the HNB credit card during the last year. We are confident that our cardholders would be happy when we use this period to show our appreciation towards them," said Zeyan Hameed, Manager - Centre Affairs of HNB Card Centre.

A total of 66 prizes, i.e. 62 daily prizes and four weekly prizes are on offer this month. These prizes come together with the Royalty Points that can be earned on every transaction performed. Thus when a cardholder uses his/her card this month, he/she becomes eligible for the "66 prizes in 31 days" promotion as well as for all other benefits under Royalty 2005.

"We hope that cardholders remember to send us the SMS of the card number so that if he/she is the lucky winner of the daily draw it will be doubled to Rs. 20,000," said Hameed.

Also on offer this festive season exclusively for HNB cardholders are special airfares to popular Asian destinations, Australia, China, Japan and other destinations in the Far East and USA and also special holiday packages in Bangkok from Thai Airways.

These special airfares are being offered by all reputed travel agents islandwide. For inquiries regarding these special airfares and holiday packages HNB credit cardholders could even contact Thai.

Both promotions, ie the "66 prizes in 31 days" and "Thai" special offers, are valid upto December 31.

Tea production: 265 mn.kg.

Black tea production in the first ten months of the year increased by 4.2% year on year (YoY) to 265.1 million kilos, the Tea Board said.

This comprised 67.3 million kg of High Growns, a 10.1% YoY increase, 45.4 million kg of Medium Growns (9.1% increase) and 152.3 million kg of Low Growns (0.4% increase).

The amount of orthodox tea manufactured during this period was 251.1 million kg, a 4.3% YoY increase and CTC teas, 13.9 million kg, a 1.5% increase.

Meanwhile, the cumulative production of green teas during this period was two million kg.

Airline award for Etihad

Etihad Airways has won the prestigious World's leading new airline award for the second consecutive year, a press release said.

This was announced at the twelfth World Travel Awards held at the Royal Opera House, London, on November 13.

"Etihad is proud and honoured to retain the title of the world's leading new airline. Our ambitious growth plans are set to continue with new route announcements for 2006; October saw our first transatlantic flight to Toronto via Brussels," the release quoting Ian Ferguson-Brown, Head of Corporate Communications at Etihad said.

Etihad is firmly on track to open Abu Dhabi and the UAE further to the rest of the world.

The World Travel Awards were conceived in 1993 to reward and celebrate excellence in the global travel and tourism industry. Now in its twelfth year, travel professionals and discerning travellers regard the awards as the very best endorsement that a company in the field of travel and tourism can aspire to, the release claimed.

The votes are cast by travel agents in over 190 countries worldwide.

Meanwhile, Etihad Airways, UAE's national airline, provides the first non-stop link between Johannesburg and Abu Dhabi, that began on December 1.

Johannesburg joins Cairo as the airline's second destination on the African continent. The new service will provide the only non-stop link between Southern Africa's commercial capital and the capital of the UAE, allowing for convenient connections to Etihad destinations within and beyond the Middle East.

The release quoting Nick Howarth, Etihad's Head of Corporate Planning and Strategy, said that the company realized that Eastern and Asian markets have demonstrated strong demand for an international airline that can take them into the South African market for business and leisure.

South Africa's exports to the UAE have increased from R1.6-billion in 2002 to R2.6-billion in 2004. Exports in the first quarter of 2005 stand at R800 million.

Dikang Moopeloa, South Africa's Ambassador to the UAE said that the announcement of an additional premium air carrier serving the South Africa - UAE route is particularly good news for the more than 5,000 economically active South African nationals currently living in the UAE.

South Africa has rapidly become one of UAE's leading trading partners, quickly joining the ranks of the USA, UK, Germany, Japan and India.

Inbound tourism has been another key consideration factored into the planning of the Johannesburg service, given the potential for inbound tourists from the Asian and Middle East markets to contribute significantly to the South African economy and tourism infrastructure.

"South Africa is rich with holiday opportunities for every lifestyle; we expect that a substantial number of Etihad guests flying to Johannesburg will be doing so en route to holiday destinations that our team has tailored for them", the release quoting Nick Wood, General Manager Etihad said.

"We are already in discussions with leading resort and safari destination properties in South Africa and a comprehensive programme of holidays will be launched in the run up to the start of services."

Etihad will fly from nonstop from Abu Dhabi to Johannesburg on Thursdays and Saturdays. Guests will fly on a luxuriously appointed Airbus A340-300 configured to host 10 Diamond guests, 30 Pearl guests, and 225 Coral guests.

Amana joins the league

International Cooperative and Mutual Insurance Federation (ICMIF) is currently the only international association that represents mutual, cooperative and Takaful insurers, providing a variety of services to member organizations including networks, conferences, topical reports and studies, regular publications and development assistance.

A press release said that the ICMIF membership currently stands at 142 organizations in 70 countries and represents more than 300 insurance companies worldwide. As a part of a global network of insurers, members have the opportunity to utilize the wide range of member services including reinsurance, investments, professional networks, technical advice and market and product intelligence.

Currently Takaful operators from Saudi Arabia, Sudan, Trinidad and Tobago, Malaysia, and Tunisia are benefiting as ICMIF members. In addition to these countries Amana Takaful Insurance Sri Lanka was also included in the membership cadre of ICMIF.

Surprises at Pizza Hut

By C.B.M. Joseph

Contrary to popular belief that Pizza Hut is a fast food restaurant where a meal has to be eaten in a hurry, this restaurant impresses on its customers that Pizza Hut is a place for individuals and families, to sit, relax and enjoy the wholesome fare provided by it in a friendly environment.

The popular lunchtime deal - where a personal pan pizza together with either a soup or a toss salad plus a Pepsi could be enjoyed at a price of Rs.150 is a popular favourite among company executives who come to Pizza Hut to break away from the tense environment of the office and enjoy a tasty and nutritious meal.

With a view to providing these customers, the relaxation and enjoyment they look forward to during their short lunch break, Pizza Hut on is part is doing everything possible to provide the wholesome fare that these customers crave for, and is also looking forward to making this lunch time deal popular even among other customers.

With this in view, Pizza Hut has introduced 'American Classic' -. America's Number one pizza to local customers.

One area of difference between the 'American Classic' and the pizzas that Sri Lankans have been accustomed to, is that the 'American Classic' has less cheese, but contains liberal quantities of toppings like beef or chicken.

Pizza Hut proposes to introduce a 'buy one get one free'bonanza this Christmas season to popularise it among its local clientele.

Yasa Nadarajah CEO Keells Restaurants Ltd, speaking to The Sunday Leader said "Another difference in the 'American Classic; is that its crust being thin and crispier, customers will actually be biting into the elaborate meat topping and would experience the superb taste associated with the American palate, giving the customer a new experience. The 'American Classic' comes in a variety of sizes and flavours and is prized between Rs.390 and Rs.890.

Pizza Hut is not only looking forward to providing customers with a variety of new pizzas, but is also working to ensure the environment is right for the customer during the festive season. A whole lot of activities, including the visit of Santa Claus, singing carols and other entertainment are also in the cards.

So, the waiting time till the pizza arrives is going to be a time of great fun, excitement and enjoyment for the children and the whole family this Christmas season.

Suntel sponsors e-Carnival

Suntel, the new generation national telecom network has lent its strength as principal sponsor of the e-Carnival, a technology exhibition organized by the Computer Society of Sri Lanka that was held over three days at the BMICH and concludes today (December 4).

A press release said that e-Carnival brought together virtually all the players in Sri Lanka's Information Technology and Telecommunication industries.

Suntel as principal sponsor Wi-Fi enabled the exhibition venue, enabling stall operators to optimize the products on show as well as for them and the visitors to explore the possibilities of this convenient technology.

The exhibition has representation from companies involved in IT and telecommunication convergent products and services such as IS Applications, ITES, fixed and mobile telephony, data communication, hardware, software computer controlled devices and electronics.

Apart from enabling Wi-Fi at the e-Carnival, Suntel is providing customers the opportunity to get special packages and offers on Suntel Chat, wOw internet prepaid cards and the CDMA broad band access card.

There are also demonstrations on the use of the Suntel wOw portal. The wOw portal enables anyone to log on to the internet and search for whatever their interest maybe. Suntel has set itself apart from their competitors by offering a host of value added services that have taken information technology to a whole new level.

The release quoting Suntel's Marketing Head Nilmini Gunaratne said that they were pleased at this opportunity to be associated with this unique event which has wide representation from the information and telecommunications industries. The products and services displayed at the event appealing to both consumers and vendors.

Organisers expect the event to draw more than 20,000 visitors. The e-Carnival is not limited to technology - a series of entertainment activities including games stalls, musical shows and fashion parades are being held at the venue while the food and drinks stall makes the exhibition an outing for the whole family.

Facilities for elderly at Seylan

Seylan Bank shifted into a modern new building at Nuwara Eliya on November 7, where this building is equipped with state-of-the-art technology and has been designed in pleasant ambience.

Nuwara Eliya residents, tourists and visitors could now comfortably avail themselves of their banking needs.

Pride of place has been given to senior citizens who have been provided with a special lounge with comfortable sofas and a television.

In addition, they could avail themselves of a warm cup of Nescafe from a dispensing machine. Adequate magazines and newspapers have also been provided so that they may enjoy the pleasure of reading in a relaxed atmosphere.

"Harasara", Seylan Bank's special product for senior citizens is by far the scheme with the best value propositions and could be availed of, by those over 50 years of age at any Seylan Bank Branch, a press release said.

The special lounge would no doubt enhance the value additions for senior citizens of Nuwara Eliya and visitors during the holiday season.

The Bank would endeavour to establish such a comfortable and well equipped lounge for senior citizens in other locations as well in the near future.

HSBC chairman's visit

Vincent H C Cheng, Chairman Hongkong and Shanghai Banking Corporation Ltd, will visit HSBC branches in Sri Lanka on a four day visit that begins today, a press release said.

He would be meeting government officials, key clients and staff during this visit.

Cheng is expected to open the HSBC Group Service Centre in Sri Lanka and the newly refurbished HSBC Bamab- alapitiya branch.

He will also meet with Central Bank Governor Sunil Mendis. Cheng's agenda also includes visits to several of HSBC offices in and around Colombo. Cheng has held several senior positions within the HSBC Group since he joined in 1978.

Prior to being appointed Chairman in May, he was Vice Chairman and Chief Executive of Hang Seng Bank since1998. External positions held by Cheng include Executive Committee Member , Hong Kong SAR Government's Commission on Strategic Development, Chairman, Process Review Panel for the Hong Kong Securities and Futures Commission and Chairman, Standing Committee on Directorate Salaries and Conditions of Service of the Hong Kong SAR Government.

Eagle delivers its promise

Eagle Insurance delivered its promise to 25 district winners of the 1998 Year-Five Scholarship exam and began providing them with their Eagle Higher Education Scholarship benefits at a ceremony held at Trans Asia Hotel recently, a press release said.

Students sitting for their Advanced Levels will enjoy the benefits of the scholarship until the completion of their university degree. Since its inception in 1995, a total of 311 students have benefited from this scheme and the first batch of scholarship winners began receiving their scholarship benefit in June 2001.

The Chief Guest at this year's ceremony was W D Amaradewa. Parents and relatives of Eagle Highfliers were also among the list of special invitees. The Eagle Higher Education Scholarship scheme was inaugurated by former President Chandrika Bandaranaike Kumaratunga in 1995.

At the onset the continuity of this scheme was ensured with the setting up of a Rs. 10 million trust-fund with Bank of Ceylon as trustee to the fund. This fund has now escalated to the value of Rs.34 million under the management of Eagle NDB Fund Management Company, a subsidiary of Eagle Insurance.

Eagle Higher Education Scholarships are awarded to District winners purely on merit. To be a Eagle policyholder is not a requirement to obtain this scholarship. Winning students began receiving their Rs. 1000 monthly scholarship benefit on entry into the advance level class.

This payment continues during their university career as well. This monthly sum adds up to a total of Rs. 60,000 to Rs. 84,000 per student depending on the duration of the chosen degree courses. Those students who choose not to enter university are given a lump sum of Rs. 25,000 as a career starter.

A unique feature of Eagle scholarship awards is that teachers and principals will not be forgotten and will also be included in this acknowledgment of excellence. Certificates of appreciation are awarded to the students' grade-five class teachers and principals for their contribution towards their student's achievements.

Panadol in new packs

GlaxoSmithKline (GSK), one of the world's leading healthcare companies has launched Panadol in a new packaging, a press release said. Panadol, which the communiqu‚ claimed to be Sri Lanka's 'largest and trusted' paracetamol brand will now be available to consumers in new consumer friendly packaging, it said.

This new packaging will help the consumers in easier identification of the brand, protect them against counterfeit or substitution of Panadol brand and has an'attractive and refreshing' appeal, the communiqu‚ said.

The release quoting Akhil Chandra, Chairman/Managing Director, GlaxoSmithKline Consumer Health said that world over GSK is known for its quality and innovative products and has earned the trust of millions of consumers as well as the medical profession.

"Launch of Panadol in a new consumer friendly packaging is part of our initiative to help our consumers in easier identification of the brand," he said. Chandra further said that with an 86% market share, Panadol is a household name in Sri Lanka and had earned the trust of millions of consumers over the years with its world class quality.

"We are committed to our consumers in Sri Lanka and will continue offering superior products to them."

Panadol in its new packaging, will offer world class quality, safety and efficacy to its consumers who have trusted the brand for generations, the release said. Panadol is also the number one over-the counter (OTC) brand and the most widely distributed brand in Sri Lanka.

It is easier to swallow, does not irritate the stomach and comes with the assurance of GSK's superior research and manufacturing. With its superior dissolution profile of paracetamol, Panadol is much more effective for pain relief and fever, the communiqu‚ said.

Panadol, in its 'new consumer friendly' packaging will be available in all pharmacies and grocery outlets in Sri Lanka. To offer best quality, more effective and innovative products, GSK spends billions of rupees on research and development (R&D). Thanks to its world class R&D efforts, GSK has developed a wide range of pharmaceutical products to address many of world's major healthcare needs, the communiqu‚ said.

Today GSK offers the widest range of products in developing countries as compared to any other pharmaceutical company in the world, the release claimed.

Ginger flavoured liquor

ID Lanka Ltd, the pioneer in white alcoholic beverages in Sri Lanka, recently launched their latest product, White Diamond Ginger (WDG).

A press release said that IDL WDG is made with 100% natural ginger essence and high quality extra neutral alcohol.

The company expects that WDG will add excitement to the alcoholic beverage market, as WDG is the first ginger flavoured white spirit in Sri Lanka. White Diamond which has a significant stake in the white alcoholic beverages market is now available to consumers in two flavours, Lemon and Ginger in addition to the original plain format.

According to IDL, WDG is a smooth drink with a touch of spice that both warms the senses and fires the spirit. WDG is available in 750 milli litre, 375ml and 180ml pack sizes in wine shops, restaurants and selected supermarkets across the country.

IDL is the manufacturer and marketer of reputed brands, namely Old Reserve, IDL Black Label, Calypso Rums, Royal Ascot Gins and Ritz Brandy and also represents global brands in Sri Lanka such as Cinzano, Absolut Vodka and Salitos Tequila Beer.

Com Bank-Dialog tie-up

Commercial Bank (CB), Sri Lanka's benchmark private sector bank on Wednesday tied up with the country's leading telecommunications service provider Dialog Telekom to offer Dialog pre-paid mobile phone users a new and convenient way to top up their phone balance.ÿ

A press release said that theÿnew facility,ÿ 'Com-e-Load,' will allow customers of CB who have a Dialog KIT connection to add credit to their mobile phones by sending a 'top-up' request message to an exclusive designated number.ÿ

Registered customers can now instantly top up their mobile phone balances with any amount between Rs 100 and Rs 999. Their savings or current accounts at CB will be simultaneously debited by the same sum. Com-e-Load is also available to CB's Dot Com and Dot Com Spin Account Holders.

ÿThis is the first time a Bank has introduced a facility of this kind in Sri Lanka and it will utilise the Bank's state-of-the-art IT system which links CB's 130 branches islandwide. The release quoting CB Managing Director Amitha Gooneratne said that the Bank has over a million account holders. Gooneratne was confident that at least half of them were Dialog phone users and a large number of these phone users will have KIT connections. "Therefore we expect this new service to benefit several hundred thousand people."

Commenting on the company's partnership with CB, Dialog CEO Dr Hans Wijayasuriya said that they were strongly committed to spearheading innovations which will deliver convenience to their customers. "As such we are proud to partner CB - a renowned service innovator in the banking sector to deliver this cutting edge electronic reload product for the benefit of our mutual customers."

Customers using the Com-e-Load service will have to enter a PIN number provided by the Bank, type 'RS', enter the amount the phone balance should be reloaded with and send it to 8823. Once the transaction is completed, customers will receive a message saying that the phone balance has been successfully topped up.

CSR awards target education

Sri Lanka's first Community Leader Awards launched in 2004 was aimed at bringing the private sector and the community at large together in a long-term partnership that would steer responsible business ethnics and future development of the country.

A press release said that in the first awards for 2004/05, CIMA Sri Lanka and The Business Club together with John Keells Holdings (JKH) focused on Waste Management and selecting private sector companies that have provided benefits and leadership to communities in this field.

The intention of that award was to recognize Sri Lankan companies that have excelled in efficient waste management and reward them in 2005.

Nine winners were picked and the awards were presented at a ceremony in May during a two day international gathering of professionals that included a keynote address by former Malaysian Prime Minister Mahathir Mohamed.

The Community Leader Awards is an annual CSR project driven by CIMA/The Business Club with a different theme each year where awards would be presented to the best Sri Lankan corporate/company/group in different sectors/segments.

Each year companies would be recognized for a different aspect of their work that affects/impacts on the public.

This year (2005/2006) the organizers are seeking to reward and recognize companies that support and fund education initiatives.

The project would also help to raise awareness on the need for corporates to support education for the needy in Sri Lanka. The awards would be presented in three categories: Large, Medium and Small enterprises.

The awards will be presented at a dinner at the Cinnamon Grand on February 28, to be attended by top CEOs and others. Unilever is the strategic sponsor of the 2006 Community Leader Awards and UNICEF is a partner.

The competition is open to companies which have funded and supported education initiatives in places like schools.

Applications with guidelines for entry are available at the CIMA office in Colombo. Applications close on January 10.

Cabraal on new budget

Plan Implementation Ministry Secretary and President Mahinda Rajapakse's Economic Adviser Ajith Nivard Cabraal will speak on the topic "Sri Lanka's Economy - The Way Forward," at a luncheon meeting organized by the American Chamber of Commerce at the World Trade Centre on Friday.

Cabraal's speech will revolve round the new 'Budget 2006' that will be presented in parliament on Thursday

Colombo transforming into a condo city

By Jamila Najmuddin

With the scarcity of land in the city and the need for housing a critical issue, a number of condominiums are fast being established - especially in residential areas - with property developers now maintaining that the city is transforming into a condominium town.

As the demand for condominiums keep on increasing, property developers are also of the view that in addition to the city, the suburban areas are also cashing in on the demand due to the high prices of land and the buffer zone restrictions since the tsunami tragedy.

Due to the scarcity of land, many condominium residents are of the view that these high rise complexes seem to be the ideal solution in housing and although many continue to prefer owning a conventional house, a large section of the 'city' community now see condominium living as the most suitable method of living. "Condominiums are easy to maintain and they are small. They provide all the facilities and they are also very safe," Kumari Silva, a condominium resident says.

Living in a condominium with her family for more than five years, Silva says that although at first it was difficult to adjust to the limited space, they soon got used to it and now preferred the condominium way of living.

"We lived in a house in Wattala before we moved into a condominium five years ago. It was difficult at first but we soon got used to it and now prefer this lifestyle as condominiums are easy to maintain and offer very high security. We are surrounded by people so issues such as housebreaking do not arise. We are also very content as the families living in our condominium have formed a community, so there are several meetings held when something is lacking for one family," she says.

According to Silva, condominium living has also allowed them to integrate with families of different social and religious backgrounds. "When my family and I used to live in our home in Wattala, we never mixed with other families. We only mingled with our relatives and did not now much about other cultures. However, after living in a condominium, we have not only learnt about other religions, but we also celebrate other festivals," Silva adds.

Silva is joined by many other condominium residents when she says that the level of security that a condominium provides is 'very high.' "Today, house breaking is a daily occurrence. The police are unable to control this despite the incidents taking place in broad daylight. However, for condominium residents, this problem does not arise as we are surrounded by other families, plus security personnel," Nandana Liyanage, another condominium resident said.

Liyanage has been living in a condominium with his family for 10 years and says he would never own a conventional house again. "Condominiums are very easy to maintain. They also offer us facilities such as a supermarket, a gymnasium, and a swimming pool. It is like a hotel, only thing is that we live here permanently. Many other condominiums also offer mini parks and several other benefits for residents," Liyanage says.

Meanwhile, Deputy General Manager, Ceylinco Condominiums, Ranga Gunewardena told The Sunday Leader that while the demand for condominiums was only rising, the condominium industry expected more than 2500 units to be established in the next two years alone.

He said while only an estimated 500 units existed in the city, plans were underway to construct many more due to the demand. "Today, in Sri Lanka people are adapting to the condominium style of living due to the several advantages these units offer. In addition to security, condominiums also offer its residents several facilities such as a gymnasium and swimming pool. Super luxury apartments offer a higher number of benefits to its residents," Gunewardena explained.

He added that while condominiums offered shelter to several people on a limited space of land, today with the high land prices, many people could not afford to invest in land and in addition spend millions of rupees to construct a house. "It is cheaper to invest in an apartment - especially for Sri Lankan expatriates - as condominiums are easy to maintain. If expatriates invest in a house, then additional sums have to paid in hiring staff to maintain the property," Gunewardena said.

Confirming the trend, Gunewardena pointed out that due to the demand for condominiums, out of the 180 condominiums being built by Trillium Residencies - a condominium venture by his company Ceylinco Developers - 140 condominiums had already been sold. "Ninety percent of the apartments have been purchased by locals which proves that the demand for condominiums is not only amongst foreigners wanting to invest in the island, but a high demand exists amongst locals as well," he said, adding that heavy demand for condominiums also existed amongst Sri Lankan expatriates living in countries such as the UK, USA, Canada and Australia.

He added that the number of condominiums in the city was much less compared to demand, and atleast an additional 2000 units were required in order to cater to the existing demand.

Meanwhile, an official from Overseas Realty, whose company is presently constructing the largest ever condominium complex in the country at the former Wellawatte spinning and weaving mills site, maintained that while the demand for condominiums was certainly rising, Colombo would soon be on par with countries such as Singapore and Hong Kong where condominium living was the norm.

The official said while the demand for such units largely existed amongst Sri Lankan expatriates, many locals were also adapting to the condominium method of living due to the scarcity of land, and the ageing population opting for convenience.

"Today many people, even from the rural areas want to settle in the city. While some condominiums only cater to the upmarket, many are also being establish to suit the needs and wants of the middle class," he explained.

Colombo is slowly but surely turning into a condominium city. Apart from the mega development project at Havelock Town a few other projects include the Empire Tower at Hyde Park, Premier Pacific Tower at Colpetty, The Monarch at Crescat, Trillium Residencies at Elvitigala, Ceylinco Towers at Colpetty among a host of others. "With the large number of condominiums fast being established in the city, the condominium industry is currently one ofthe most booming industries in the island," the official from Overseas Realty added.

No place like Dwellco

By Ranee Mohamed

"The personalised construction of a building for someone to live in is a home," said Managing Director, Dwellco Pvt. Limited, Dharshan John. "With our personalisd building, customers are personally involved in the whole process because their emotions are involved," said John who has been in the construction arena for over 20 years.

Dwellco however, which was conceived 17 years ago, has over this period been making personal dreams come true by transforming them into houses.

Dwellco Pvt. Limited is the leader in building personalised homes, for with its team of architects and site workers and a fully functional office at Jayewardenapura Road, Rajagiriya, building houses just the way their clients want has become everyday work.

"We are not developers," explains John and goes on to say that Dwellco's homes are built on the lands of the client just the way the client wants it.

The charges too are very straightforward. "We concentrate on the client's needs and the sum that he pays is inclusive of all these needs. There are no changes, no extra payments, unless of course the client wants to change something, explained John.

He has for over a decade given houses that are different from the range of standard houses that are offered by property developers. They have introduced to Sri Lanka a new trend in home-making and today have magnificent creations in places as upmarket as Colombo 7 and Colpetty, to Wellawatte, Nawala, Nugegoda and the other suburbs of Colombo.

Many of their clients have been professionals - lawyers, doctors - and other professionals. "We have developed the art of understanding the client - all the client has is a piece of land and his own personal needs and designs in mind and we build and offer a turnkey solution," said John.

Taking over the whole dream project from the client, Dharshan John and his team at Dwellco also take over the obtaining of statutory approvals. Thus home builders are spared of having to run from pillar to post to obtain these approvals.

"Usually when one wants to build a house the way he or she wants he has to do it himself or hand it to some builder. But we at Dwellco are sensitive to all the personal needs of our clients. All he has to do is meet with us and tell us the designs and what he has in mind and we take it over from there," said John.

"All projects are handled by senior members of the staff and very personalised attention is given to the clients and is supported from start to finish," said John.

"There is no doubt that in this niche market, we are the market leaders," said the Managing Director, who stressed that all the homes that they have built have been non standard homes.

"We take about 12 months to finish a home and as these are personalised homes we take extra care when it comes to the finishes," said John. Dwellco has built over 250 homes in the past 17 years and their immense popularity is portrayed by their repeat clientele.

"Usually the builder-client relationship gets sour at the end of the project, ours gets better and we end up as closely knit friends," said John.

Dwellco which has its own carpentry workshop, attends to all the personal needs of these personalised houses. Dwellco is now setting-up another large, spacious timber factory at Horana to attend to their greater needs.

"After the tsunami, there is great demand for skilled workers. But our workers are continuing with us because of the incentives and care we give them," observed John.

There is no doubt that Dwellco with its solid past and equally solid approximately 250 houses, stands today as the special personalised homebuilder with a personal touch that is unmatched.

TFC Homes ventures into apartments

TFC Homes is a BOI company which builds luxury homes in exclusive neighbourhoods. The company is a subsidiary of The Finance Company Ltd, a member of Ceylinco Consolidated, one of the largest and most diversified business conglomerates in Sri Lanka.

The company that created 'Lion City' housing project in Seeduwa, the scenic 'Athugalpura Niwasa' housing project bordering the Athugalpura Lake in Kurunegala and the luxury housing project in the heart of Nugegoda, 'Raymond Residencies,' has now ventured into apartments.

TFC Homes will shortly be venturing into two apartment projects, namely, Frances Residencies and Rodney Towers. These semi-luxury and luxury apartments are designed by renowned architects. And the projects are in the heart of Colombo adding convenience to a busy lifestyle.

Frances Residencies will be situated at Frances Road, Wellawatte. A cosmopolitan neighbourhood that puts your comfort and convenience right up front, with the unparallel infrastructure of Wellawatte right outside, with easy access to the complex from the Marine Drive and of course Galle Road.

A private sunset will be all yours when you sit back on the roof top and watch that golden globe sink beneath the horizon. Or step out of the elevator and 'onto' the beach to enjoy a long walk or an invigorating jog.

This eight storey apartment complex consists of three bedroom units of 1400 - 1600 sq.ft and studio units of 900 - 1,000 sq.ft. Frances Residencies' promises you the best of both worlds, looking after your business needs as well as your leisure. The project is designed by the award winning architect, Professor Lakhman Alwis of Design Consortium.

Rodney Towers, another project initiated by TFC Homes, will take shape at Rodney Street Colombo 8. A convenient location that would offer residents a virtually 24 hour neighbourhood; in close proximity to schools, hospitals and convenient super markets together with recreational and entertainment facilities a stones throw away. And for the sports enthusiasts and the health conscious, a private golf course just a hop step and a jump away.

This 10 storey apartment complex consists of three bedroom units of 2000 sq.ft, few 3,000 sq.ft penthouses, and 1,000 sq.ft. single bedroom units. This project is designed by a team of foreign architects adding exclusivity to style, complementing convenient living.

The vision of Chairman, Ceylinco Consolidated, Deshamanya Dr. Lalith Kotelawala, TFC Homes was established mainly to enter the real estate industry in Sri Lanka using the expertise and strength behind The Finance Company Ltd. Padmini Karunanayake who is also deputy chairperson of Ceylinco Homes International, is the CEO of TFC Homes.

Speaking to The Sunday Leader, Assistant General Manager, TFC Homes, Rajitha Jayasuriya said, "TFC Homes always endeavours to offer the best in comforts to its clients and will be a life long partner, by providing them with distinctively designed and well constructed homes creating exclusive neighbourhoods that provide total customer satisfaction."

CHl launches Cinnamon County Residencies in Battaramulla

Ceylinco Homes Intentional (CHI) recently launched its latest development project, Cinnamon County Residencies at Battaramulla.

Situated in the residential suburbs of Battaramulla, Cinnamon County Residencies owes its name to the history of the land it stands on which was once a cinnamon estate. A charming neighbourhood, the project consists of 12 tastefully designed homes with three distinctive designs, named Ceylona, Cannel and Cassia.

As close as eight kilometres from Colombo, yet far enough to get away from its hustle and bustle, Cinnamon County Residencies has been designed along the lines of lavishness, convenience and also keeping in mind the residents' privacy.

Designed by Arch International, the beautiful surroundings of this new address are sure to encapsulate the residents' every desire for a perfect home.

Cinnamon County caries an aura of serenity, a foundation of comfort, and a life of luxury for all who enter its gates.

CHI stands strong and proud as the benchmark name in property development and also boasts of creating neighbourhoods such as Lotus Grove, Barnes Place Residencies, The Villa and HydePark Residencies. Being a project of Ceylinco Homes International, clients can be assured of superior standards of workmanship, materials, and refreshing designs, derived from their unmatched experience in building homes.

Designing a home feng shui style

Feng shui - literally, 'wind-water' in Chinese - has become one of the hottest design trends and conversation topics going around.

But while feng shui is suddenly in vogue, it is nothing new. Its history began in the fourth century B.C. when the Chinese invented the compass. During the following century, they began using the device to aid in the proper placement of grave and home sites.

Finding the optimum final resting place for ancestors was to ensure health, harmony and prosperity for their descendants, because we are all connected by cosmic, universal energy - called chi.

Today there are as many forms of feng shui as there are practitioners. There are the three main 'schools' of feng shui:

Form School

This school of feng shui began in southern China. It is based on looking at and evaluating land forms, waterways and geography.

Compass School

The absence of geographical and geological features and the relative flat topography of northern China necessitated the development of the Compass School, which dominates throughout most of the world.

This is the traditional, classical feng shui practice which uses either a Chinese (luo pan) or Western-style compass to determine the eight compass directions in a room, office or home. Because those directions govern various aspects of your life, you place the corresponding colours, animal symbols, numbers and elements in the areas that you wish to activate.

Black Sect Tantric Tibetan School

In this school, you disregard compass directions. Instead, you stand at and use the entrance of the room, house or office as your main reference point. Then you place objects and other enhancements according to what you aspire to and wish to accomplish.

Basics

Want to make your home feng shui-friendly, but don't know where to start? Here are the basics.

Regardless of the school you choose, feng shui is based on these fundamental concepts:

Flow of energy

Balance of yin and yang

Interaction of the five elements.

A classic feng shui site would be a location halfway up a hill, sheltered on three sides with a wide view in front - preferably of water.

Avoid sharp, straight edges to keep energy flowing

In nature, we find perfectly straight lines in only very short segments, as in the canes of sugar and bamboo. Even the tallest redwoods and pines have irregularities. It is a natural law that energy flows in wavy lines like the breezes, mountain ranges and streams. In the land, chi moves in dragon lines along the topography; in people, its paths are called meridians. This undulating flow is beneficial and natural.

Freeways, tunnels, bridges, buildings, corners of buildings and lamp posts have straight edges, which are considered conduits of negative energy - called sha ch'i or 'killing energy.'

In feng shui, such are to be avoided.

Balance the 'yin' and the 'yang'

The duality of the universe and the world around us is expressed in the tai chi, a circle created by a light and a dark droplet, positioned end to end.

Yin is the female: soft, passive, nurturing, fluid, even numbers and the right side.

Yang is male: bright, hard, active, aggressive, odd numbers and the left side.

The acknowledgment that every male has a feminine aspect, and every female has a male side, is new to the Western mind.

Together, yin and yang comprise a whole, and yet there is an element of each in the other.

But sometimes we have too much yang, and other times, we have too much yin. It is up to us to find and maintain the balance between the two in our physical, mental, emotional, spiritual, sexual and intellectual selves. Achieving this balance helps us become grounded or centered, much like a rock that is pounded by the elements and still remains unyielding.

Use the elements in generative ways

Each of the five elements - fire, earth, metal, water and wood - relates to the other in two different ways.

The first relationship is generative or creative. For example, water nourishes wood, wood makes fire, fire creates earth (as in volcanoes), earth creates metal, metal creates water.

The second relationship shows how each can be overcome or destroyed by the other. That is, water puts out fire, fire melts metal, metal cuts wood, wood displaces earth, earth dams water.

- Angi Ma Wong

ICC - a constant innovator

International Construction Consortium (ICC) is one of Sri Lanka's leading contractors with multi-capabilities in the construction industry. The award winning, ISO certified ICC has made a significant impact with its latest creation, the SBS floor system.

ICC is one of the pioneer companies to offer complementary assistance to the construction industry and their vast experience over the years has added to enhance this factor. ICC, which was established in 1980 is an ISO 9001-2000 certified construction company and has won the IFAWPCA gold medal for civil engineering and ICTAD Construction Excellence Awards in 2002 and 2003.

ICC's SBS floor system is a revolutionary alternative to in-situ concrete slabs. It translates in to a 30% cost saving solution on steel shuttering and concrete costs compared to the conventional cost in-situ method, achieving maximum profit out of minimum investment by constructing sturdy single beam floors (for housing) and double beam floors (for shops and offices).

The SBS method is rapidly growing in demand and it is also an unique creation with a multitude of advantages over conventional cast in-situ technique.

The main features of SBS floors are;

Rapid method of construction - utilisation of pre-cast elements and the non-use of frame work.

A convenient method - does not require skilled labour for installation.

This system does not require prior knowledge of site conditions.

Residential slabs are normally designed to impose 150kg per square meter, but SBS slabs have an enhanced load up to 500kg per square meter.

Installation of the SBS floor system is very simple; just by placing SBS beams on walls, in filling with masonry blocks, laying mesh reinforcement and topping with concrete screed. The pre-stressed slab system is made up of pre-stressed beam, concrete masonry soft blocks, distribution reinforcement GI weld mesh, and structural concrete topping.

Another problem in using normal in-situ concrete slabs is that it requires an enormous amount of bamboo props and plank whereas SBS floors require no shuttering, is hassle-free as well as a rapid method of construction. The pre-cast elements are manufactured using raw materials such as cement and sand that have been tested in their fully equipped laboratory prior to concrete mixing, as it is difficult to test raw materials at a construction site.

ICC SBS floors are cost-effective, efficient and ensure top quality.

Finally, a solution for termite problems

Termites are the bane of any household. They cause huge financial and structural damage to buildings. Research indicates more than 70% of homes have been invaded by termites. Termites can be detected mostly in the dry zone in Sri Lanka and also in areas where the soil is damp.

To prevent termite attacks, there are two types of treatment available in the pest control industry.

1. Pre construction anti termite treatment.

This treatment is carried out before laying the ground floor concrete in the building. This treatment prevents the entrance of termites into the building.

2. Post construction anti termite treatment.

This treatment is for already constructed homes. Treatment is carried out by drilling holes at two to three feet intervals and injecting chemicals by using a high pressure motor pump. The purpose of drilling is to inject the chemicals directly into the termite infested soil. This treatment will prevent the re-infestation of termites.

However to carry out this treatment one should always choose a highly trained, well experienced and professional pest controlling company. Green Pest Control Service (Pvt) Ltd. has carried out more than 1000 treatments all over the island and has gained much experience in the field.

Using natural and artificial light to brighten up rooms

Does your room feel dark and dismal? If you want it to look brighter, keep these two principles in mind:

Dark, matte surfaces absorb light.

Light, glossy surfaces reflect light.

In other words, anything dark and dull in your room will suck up your room's available light. Anything light and glossy will enhance natural light. So take a good look around your room and ask yourself these questions:

Q: Are your walls, trim or ceiling painted or papered in a colour that has a dark value? In other words, measured against gray, would their colour be closer to a dark black-gray or a pale whitish-gray? The darker the colour, the more natural light it will absorb.

Q: Is your floor covered in a dark carpet, dark linoleum, dark wood, stone or tile?

Q: Do you have dull, dark wooden or metal furniture? How about dark upholstery fabrics, tablecloths, pillows?

Q: Do you have dark drapery or heavy shades around your windows?

Q: Does your room have no windows, or only one window that lets in a limited amount of light?

Make the most of natural light

Recover or repaint any dark walls, trim or ceiling in a light, reflective material and finish.

Mirrors are naturally reflective. If you like mirrors but don't like mirrored walls, consider creating a 'picture wall' - using mirrors instead of pictures in a variety of frames.

Refinish, repaint or recover your floors. Consider a light, possibly pickled, stain for wood, or a light-coloured paint. Replace dark linoleum, tile or stone; or recover it in a light carpet or a large area rug. (Light colours may show dirt more than dark ones, but they show dust less. Patterns, particularly those with flecks, hide dirt better than solids.)

Slipcover your sofas, chairs, tables and pillows in light fabrics. Or cover them with light-coloured throws.

Clear your window panes. If you can live without window dressing, do. For decorative relief, consider mounting lightweight glossy white exterior shutters on the inside walls around your windows. If you need daytime privacy, use a panel of lace or sheers.

If you want to have curtains or drapes, make sure they're tied back away from the window. Give them a light-coloured satiny lining, and let the lining be what's exposed during the day.

Consider switching rooms around to make the best use of natural light.

Give your room a boost with artificial light

Indirect reflective lights subtly enhance natural light and don't shine directly in your face. Use 'up' lights in canister fixtures hidden behind plants and let their glow bounce off your ceiling and back into the room

Lights recessed into the ceilings of cabinetry also provide subtle light sources.

Use full spectrum daylight-simulating bulbs during the day to give the feel and the look of natural light.

Choose light, translucent shades over dark or opaque ones.

Increase the number of light sources in your room and their quality.

Consider replacing fixtures with ones that can accommodate a higher wattage.

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