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| Telecom
operators back liberalization "In fact customers of the telecom operators would themselves benefit from the impending liberalization," the joint statement, issued by Sri Lanka Telecom, Suntel, Lanka Bell, Dialog GSM, Celltell and Mobitel said. The companies were clarifying their position with respect to the impending liberalization of International Services following recent media reports which they said "could potentially misconstrue our position in the eyes of the consumers and general public." Here is the text of the statement: "The telecom operators recognize the proposed regime as a progressive and forward thinking step in the direction of placing Sri Lanka's telecom market among the most dynamic in the region.Operators have and will commit their fullest support to the fulfillment of the government vision in this respect. The source of misconception that the operators are opposed to liberalisation as reported in the media, appears to have arisen from the operators expressing concern with regard to certain elements of the policy. These concerns are primarily with respect to the reduction of rates levied from overseas operators (not Sri Lankan consumers) for terminating calls (incoming calls) into domestic networks. The proposed regime would result in the reduction of foreign exchange inflows to the country and compensation received by domestic operators for the use of their infrastructure. Unnecessary reasonable reduction of in-payments to Sri Lanka would benefit mainly operators in foreign countries, and directly deny the national economy and local operators of substantial revenues which otherwise would help boost the economy and encourage the development of local infrastructure including rural networks. To address these concerns of the operators, as well as others of a more technical nature, as expressed to the TRCSL, would in no way impact the potential price reductions local consumers would enjoy or the liberalisation policies of the government. Discussions with the TRCSL are currently underway with a view to addressing the concerns of the operators, and the TRCSL is supportive in principle to the concerns of the operators. The operators are confident the discussions will result in a regime, which in line with the government vision will be characterised by a liberalized market delivering maximized benefits to the consumer, national economy and the industry. It is pertinent to note that the Telecom operators collectively serve approximately two million subscribers (10 percent of the population) and have extended their networks to most parts of the country in spite of trying economic conditions, largely supported by foreign investments totaling close to 1 billion US Dollars." Ceylinco
Life 'Pranama' scholarships for 75 "future leaders" The scholarship
winners aged 8 to 20 were selected on the basis of their They represented the four categories of Ceylinco Pranama scholarships, which recognize excellence at the Year 5 government scholarship examination, the GCE Ordinary Level, GCE Advanced Level and achievements at the national level in art, drama, cultural activities, invention and sports. Each Pranama
scholarship winner was presented with a medal, certificate, Speaking on the occasion, Ceylinco Consolidated Chairman Deshamanya Lalith Kotelawala said: "Encouraging and rewarding achievement by young people is one of the best contributions a company can make to its community. And that is what the Pranama scheme is all about. "It is no secret that the facilities and services available to our children under the free education system are quite inadequate to meet the developmental needs of our country. The Pranama scheme seeks, even in a small way, to redress this imbalance by providing financial assistance to young people of high potential in the hope that it will help them advance their education. It is therefore an investment in their future, and the future of our country." Kotelawala said Ceylinco considers the Pranama scholarship scheme as an "important social obligation." The Pranama scholarship winners who received their scholarships at the ceremony comprised 22 students who sat the Year 5 scholarship examination in 2002, 20 students who sat the GCE (O/L) in 2001 and 23 students who sat the GCE (A/L) also in 2001. Ten others were
presented with National Merit Awards for extra curricular achievements.
Among the 65 academic winners were the all-island best student for
the Year 5 scholarship and the all-island best student for bio-science
in the A/L who received Pranama scholarships, as they are children
of Ceylinco Lifepolicyholders. Ceylinco Pranama
scholarships are awarded annually to applicants drawn from Ceylinco
Life's policyholders across the country. The programme is implemented
through Ceylinco Life's network of 78 branches with the assistance
of the Examinations Department, which certifies the examination
results of applicants. Three of the four categories of scholarships are awarded to top achievers district wise at the Year 5 scholarship examination, the GCE Ordinary Level examination and the GCE Advanced Level examination. Scholarship recipients in these categories receive monthly cash payments ranging from Rs. 1,000 to Rs. 2,000 for periods of two to five years.The fourth category of Pranama Scholarships are awarded at the national level, with lump sum payments of Rs. 25,000 to policyholders' children who excel in sports, art, drama, cultural activities and inventions. CTC
recaptures illegal fags market, regains profitability The company said in a statement that it would not pay a final dividend for 2002 because of three interim dividends, totalling 45 percent, had been paid during the financial year. CTC also announced the appointment of Ken Balendra, former head of the John Keells conglomerate, as its new chairman as the incumbent, former army chief Lt. General Denis Perera, was not offering himself for re-election. The company attributed the performance to the government's excise restructure last year and said revenue to government had also improved during the same period by way of higher tax payments. Profit after tax during year 2002, was Rs. 845 million, mainly due to the company's ability to have captured part of the illegal cigarette market, its continued focus on productivity and cost cutting measures. "Year 2002 has been a challenging and exciting year for CTC, during which the company was able to ensure a reasonable return to its stakeholders,” said Paul Hiltermann, managing director and chief executive officer. CTC said the government's successful restructure of excise duties had “reversed an unavoidable decline in state revenue from the sale of cigarettes.” Government revenue improved to Rs. billion in 2002, representing about 10 percent of total government revenue in 2002, CTC said. CCC's
Sri Lanka in brief booklet This booklet contains basic information on Sri Lanka and serves as a good source of reference material for foreigners who visit Sri Lanka for business or holiday. The latest revised version of Sri Lanka in Brief 2002, contains concise information on population, literacy rate, high education, macro economic data, main imports and exports, major trade partners, investment, bilateral treaties and many more geographical and demographic information. NERD
sets up Centre for Manufacturing Excellence Statistics reveal that countries like China, Germany, India, Italy, Malaysia, Singapore, Taiwan, UK and USA supply nearly 55 percent of the annual demand for dies and moulds in Sri Lanka. Many of the imports are done at comparatively higher cost. A recent survey conducted by the National Engineering Research and Development Centre (NERD) showed that nearly 90 percent of the current demand in the country is for high precision, high quality dies and moulds, with local die and mould manufacturers being able to meet just 30 percent of the demand. Most of the SMIs in this trade are unable to tap this high-end market as they are handicapped in their effort to expand the range of products and improve quality due to lack of technical know-how, skilled manpower, modern tools and machinery, and testing facilities. Taking into consideration the market situation, NERD took steps to set up recision machining for the benefit of the local industry, by establishing a Centre for Manufacturing Excellence (CME). The Ministry of Science and Technology through an ADB loan provided the bulk of the financial assistance needed. The purpose of setting up of the CME is to fill up the technological gap and assist the die and mould making industry to expand the range of products, improve quality and to meet customer delivery targets. CME caters for customer needs, directly undertaking high precision die and mould making in some selected areas and secondly by helping the local die and mould making industry to produce goods of international standards by providing the necessary technological support. The objectives of this project are: design and manufacture of dies/moulds and other precision components; provide accurate and innovative solutions; carry out R & D programmes on product design and development; conduct in house training programmes for locals exposing them to state of the art CAD/CAM technology and precision machining applications; support the local small and medium industry to produce high quality products of international standards and maintain a technology watch on latest CAD/CAM technological innovations in the area of precision machining and disseminate such information to the benefit of the local industry. Assistance is provided to fine tune designs or provides a complete design solution including the choice of material. Provide comprehensive training facilities. Ms. Preeni Withanage heads the CME at the NERD Centre and can be contacted on telephone numbers 236284, 236384, 233153 or email nerdc@sri.lanka.net Growth
in third quarter profits for Carsons
Consolidated turnover was Rs. 2.9 billion and consolidated profit after tax Rs. 429 million while the shareholders' funds including minority interest as at 31st December 2002 were Rs. 6.7 billion. The oil palm plantation sector generated a reasonable return during the third quarter mainly due to the significant rise in palm oil prices. This trend is expected to continue during the first half of 2003. Sector turnover was Rs. 967 million and profit before tax was Rs. 128 million during the period under review, the group said in a statement. Positive contributions came from the brewery sector due to stable economic conditions in the country with a turnover of Rs. 1.6 billion and profit after tax of Rs. 298 million. Subsequent to the budget proposal to issue retail licenses to outlets for the sale of soft liquor, the brewery sector is looking to improve the sales volumes. Encouraging returns from investment holdings was due to the peace initiative, new listings and growth in the economy. During the third quarter a turnover of Rs. 157 million and profit before tax of Rs. 147 million was recorded by Ceylon Guardian Investment Trust Limited and its subsidiaries - the group's investment holdings sector. The market value of the Guardian Group portfolio grew by108% to 2.5 billion during the period under review, while market value as at 31st March 2002 stood at Rs. 1.2 billion. Carsons said that with the economic recovery it was looking at investing in new business ventures that will add value to its shareholders. As one such initiative Carsons together with a consortium including John Keells Holdings Ltd and Ceylon Biscuits Ltd has bid for the 40% stake in Cooperative Wholesale Establishment (CWE), which is up for privatization. |
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