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John
Keells reports hefty profits The group's
bottom line was mainly boosted by contributions from the transportation
and food and beverage sectors and a turnaround in the leisure sector,
JKH Chairman Vivendra Lintotawela said in a statement to shareholders.
Net profit
in the nine months ending December 31 2002 rose over 260 percent
to Rs. 867 million while group turnover increased 40 percent to
Rs. 12.1 billion. With the group
usually making its best profits in the last two quarters, its profits
look set to well exceed that made in previous years. "While
management is confident that FY2003 earnings will be the group's
best yet, we are committed to continually exceeding shareholder
expectations," Lintotawela said. The conglomerate
was "well positioned" to take advantage of the economic
recovery that is underway although there has been a delay in the
revival in external trade, he said. "The relatively
improved economic environment, a period devoid of conflict, and
the group's recent acquisitions have combined to produce excellent
results this year," Lintotawela said. John Keells
acquisition of the Lanka Marine Services bunker monopoly and earnings
from South Asia Gateway Terminals, the P&O-led consortium operating
the Queen Elizabeth Quay container terminal in Colombo Port, made
significant contributions in boosting profits from its transportation
sector. Lintotawela
said the company was taking steps to improve efficiencies at LMS
and planned to offer a Voluntary Retirement Scheme to shed excess
staff. In the tourism
sector, JHK's Maldivian hotels contributed the bulk of the profits
while its local hotels, which have turned around with the recovery
in tourist arrivals following the cease-fire, made a "significant"
contribution to the bottom line. " We are
confident of the sector's performance for the rest of the year based
on the present trend in arrivals and feedback from operators,"
Lintotawela said . Higher rainfall,
which affected soft drinks sales, slowed growth in the food and
beverage sector, but was compensated by "steady growth "
in demand for ice creams, and a better performance by Keells Food
Products and its restaurants. Lintotawela said he was concerned about the increase in costs in the plantations industry, whose profitability was affected by higher wages and electricity charges, despite higher rubber and tea prices . Job
oriented diplomas from Ingrin The Diploma
in Computer Graphic Design programmes aims to develop the visual
skills that transform text and images in to effective communication
pieces. In addition
to the design and technical aspects of the course the participants
achieve a good knowledge of pre press and print media as required
by the industry, according to an Ingrin statement. The Diploma
in Digital Media Design is a creative course in the use of computer
graphics and animation programmes with a difference. It teaches
the exciting new three -Dimensional and two -Dimensional modeling
and animation tools, and also important tips on how to best read
and capture the audiences' imaginations. The New Ingrin
diplomas will help not only those who seek employment in graphics
and digital media communication industries but also those who are
already in it to effectively enhance the knowledge and skills in
these two fields, it said. The Ingrin Institute of Printing and Graphics is an international body present in more than 17 countries and currently operates under the Ministry of Tertiary Education and Training in collaboration with the Ingrin Foundation in the Netherlands. Private
sector dilemma He has pinpointed
seven areas in which the private sector has failed miserably - lack
of accountability to stakeholders; not being conscious about productivity,
quality, consumer interest and of the environment; corrupt, unethical
and not transparent; not entrepreneurial but has been risk averse;
uncaring for society at large and being irresponsible; not forward
looking and not taking a long term view, and believes in networking
with the old boys club; Mr. Jayaratne's
is very relevant today when we hear of the goings on in the SEC
and the fiasco in the Pramuka bank. As citizens
dealing with the private sector institutions for various products
and services we are compelled to side with the views of Mr. Jayaratne.
In a society
where the consumer should be king, we are treated very shabbily,
and despite the apparent competitive environment in which the private
sector should operate, we are being taken for a ride all the time.
When the going
is hot for the private sector, it will besiege the government and
ask for tax concessions. Any relief
granted to the private sector to bring down the cost of living is
seldom passed on to the consumer. How can the
government, which wants the private sector to be the engine of growth
of this country, ever hope to achieve its objectives with the kind
of private sector we have in this country? I think it is of paramount importance for the government to watch the private sector very closely and ensure that they also work in the national interest.W.S. Nanayakkara, Colombo 5. Hemas
launches "Piyawara Programme" This project
follows the need for greater understanding and awareness that early
childhood development (ages from 1 - 5 years) plays in a child's
psychological well-being. 'Piyawara' is a public-private sector
initiative, which seeks to promote higher standards of early childhood
development, by setting up model centres and creating awareness
throughout Sri Lanka, according to a Hemas group statementHemas
has entered to an agreement with the Ministry of Social Welfare
to upgrade and develop eight government-run pre-schools in Jaffna,
Gampaha, Kurunegala, Matale, Badulla, Polonnaruwa, Ratnapura and
Matara. These schools will be upgraded to 'Model Resource Centres'
in their respective districts. Hemas CEO Husein Esufally said the
company had supported many programmes directed towards the upliftment
of children in the past. The launch
of Piyawara aims to better utilise available resources to bring
immediate benefits towards promoting early childhood development
in Sri Lanka. He said that the money allocated by the company for
this project would be utilised towards providing learning equipment,
upgrading toilet and drinking water facilities, providing safe and
pleasant play areas, conducting regular health checks for the children
and pre-natal health camps for parents in the selected centres.
Another key
area that will get focussed attention will be the training of pre-school
teachers so that the children will get the best possible care. This has already commenced with 20 teachers from chosen pre-schools being sponsored at an eleven-day residential workshop and programme conducted by the Ministry of Social Welfare last month. Some of the teachers from the North and East visited Colombo for the first time in their lives. It is hoped that the parents of the children will also be made to play an important role in this project through Parent-Teacher Associations, Esufally said. |
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