Financial Times

NDB promotes business development through DASUNA loan scheme
DASUNA, a credit loan scheme under the Southern Province Rural Economic Advancement Project (SPREAP) was launched recently by the National Development Bank aimed at helping 7,000 micro enterprises and 1,500 small enterprises in the next few years.

NDB is the apex institution for the credit component, which is meant to assist existing as well as new entrepreneurs in the setting up of new business units, as well as for the expansion of existing enterprises. A sum of $ 15.0 million (approx. Rs. 1.5 billion) has been set apart as the credit component to assist such micro and small enterprises in the southern province.

Unlike other credit lines operated by the NDB for SMEs, DASUNA is especially tailored to help start-up micro and small enterprises, promoted by talented youth in the area, with a view to creating a new generation of entrepreneurs. A special feature included in this programme, is where such entrepreneurs could seek assistance from Business Development Service Providers (BDS Providers) in formulating their projects before approaching a bank. They will also get advice, training and guidance where necessary from BDS Providers in formulating a viable business proposition. They can then approach a bank of their choice, to obtain financial assistance. BDS Providers will thereafter co-ordinate between the entrepreneurs and the banks to see that the projects assisted are implemented properly and are on a viable footing.

NDB, in association with SPREAP, took the initiative to hold workshops at district levels with bank officials and BDS Providers together, to agree on the working arrangements in promoting DASUNA. Initially two workshops were held in July and a third in early August. At each workshop the participants were apprised of the overall SPREAP project, DASUNA Loan Scheme and the services available from BDS Providers by the representatives of SPREAP office, NDB, the apex institution for the Credit Line and Lead EDS Provider, BMB Lanka.

Participating credit institutions in the DASUNA Loan Scheme are NDB, Development Finance Corporation (DFCC), Bank of Ceylon, Commercial Bank, Hatton National Bank, Seylan Bank, Sampath Bank, Ruhunu Development Bank and SEEDS. Already 45 service providers have been appointed to cover the three districts. Those who wish to get assistance through DASUNA may approach any branch of these participating banks or any of these BDS Providers.

Ceylon sapphire gets further boost in Japan
The Sri Lanka Embassy in Japan recently organized a Ceylon Sapphire promotion in Tokyo with the support of the Japan Jewellery Association and the Sri Lanka Export Development Board, to create a brand image and recognition for the Ceylon Sapphire.

Chairman of the Japan Jewellery Association, Yukihiro Kuwayama, Chairman of the Jewellery Day Committee, Michio Fukui and the Chief Editor of the Grand Magazine, Kuniyuki Okawa as well as leading Japanese importers were among the invitees for the special promotional campaign held in Tokyo at the residence of the Sri Lankan ambassador Karunatillake Amunugama.

Yukihiro Kuwayama, Chairman of the Japan Jewellery Association, spoke about the rising demand for jewellery from Japanese women, saying while the diamond has been the king of precious stones, the sapphire produced in Sri Lanka is to be called as the queen of precious stones due to its recognition in the Japanese market.

He said the Japanese jewellery market has always been attracted by the high quality and charming gemstones from Sri Lanka and he is confident that Sri Lanka's share of the Japanese gem and jewellery market would further improve in the future.

Japan is a leading importer of Sri Lankan gems and jewellery. During the Tokyo promotional campaign, some of the Ceylon sapphire jewellery with exclusive designs, reputed sapphires and traditional sapphire jewellery from Sri Lanka were on display for the Japanese participants. The photograph exhibition and the video presentation on the Sri Lanka gem industry gave an opportunity for the visitors to get first hand experience on the gem mining industry in Sri Lanka, according to a press statement issued by the Sri Lankan ambassador.

TVS raises curtain on new range of motorbikes
Top Indian motorcycle manufacturing giant TVS recently launched its latest range of motorbikes - the new Fiero F2, the New Victor GL and Scooty Pep to the Sri Lankan market. The bikes would be marketed through sole distributors TVS Lanka (Pvt.) Ltd, which is a joint venture between United Motors Lanka Ltd and TVS Group India. The new models were launched at an event where TVS Lanka's business partners and dealers from across the island, and cricketers Sanath Jayasuriya, Marvan Atapattu and Muttiah Muralitharan - official ambassadors for the TVS Brand in Sri Lanka - were present.

These versatile new releases from TVS are extensions of their existing models, with enhanced features in terms of economy, performance, style and safety. TVS's understanding of varying rider needs are apparent in the advanced features found in these new models that bring new levels of convenience, comfort, style and safety to the driving experience.

TVS motorcycles, fast becoming popular in the country, are endorsed by the champion Indian batsman Sachin Tendulkar and now the three Sri Lankan cricketers, the company said in a statement.

UAL announces new CEO
Union Assurance Ltd last week announced the appointment of Ms. Marina Tharmaratnam as the Chief Executive Officer of the Company with effect from August 1.

Tharmaratnam has over 30 years experience in finance and management in Sri Lanka and overseas, including seven years at Eagle Insurance and Eagle NDB Fund Management, as General Manager and Director. Since leaving Eagle, for the past three years she was the Executive Vice President of DFCC Bank responsible for Marketing, Operations, HR, Planning, IT, Legal and Back Office. She was also a Director of the Sri Lanka Insurance Corporation.

She is a Chartered Accountant from Ernst & Young with an IT qualification and holds a Post Graduate Diploma in Marketing awarded by the Chartered Institute of Marketing, UK.

Hydery A. Rehmanjee Director/Chief Executive Officer, who has been with Union Assurance since its inception in 1987, will continue with the company as Director and Consultant.

Caltex launches two products to suit new regulations
Caltex Lubricants Lanka Limited launched two new products to suit the newest API classification and the new vehicle emission regulations enforced last month. The new products were launched at a dealer presentation and media briefing held recently.

Delo 400, the new diesel engine oil is the first to meet the latest API (Association of Petroleum Industry) CI-4 category. The new category enforces parameters on emissions, engine durability, and quality. As such the Delo 400 Multigrade engine oil is designed to suit mixed fleet application comprising light and heavy-duty engines manufactured globally and work under severe service conditions.

The new oil provides benefits such as longer oil drain intervals and filter life, enhanced wear control and engine durability, reduced oil consumption, etc. Dr. Gamini Amarasekera, Chief Technology Manager of Caltex stated that the oil has been tested and proved to equal or better the performance of synthetic diesel engine oils in the market.

Caltex also launched Caltex Power Clean, fuel additives that improve engine performance by removing deposits collected over time. The Power Clean range includes additives both for diesel and petrol engines. Moreover, the additives are a timely solution that would help vehicle owners conform to the newest vehicle emission regulations that was enforced in July. The new regulation emphasizes air emission limits that would be enforced through monitoring by certified authorities. Dr. Amarasekera explained that additives play a major role in ensuring that vehicles conform to these requirements by extracting the residues in the engine.

Further, Dr. Amarasekera also dispelled technical myths of vehicle owners. He said even new engines deposit residues that when collected through time affects vehicle performance. Therefore, additives need to be introduced at regular intervals to maintain original performance of engines.

During the launch, Caltex repositioned its premium product Havoline Energy Synthetic, that focus focuses on performance, engine protection and fuel saving.

Caltex Lanka Limited is a member of the Chevron Texaco group, a global energy giant with a presence in over 180 countries. Caltex is a local leader in the lubricant industry that entered the market with the liberalization of the lubricants market. Caltex is reaching the end of its monopoly benefits with the exclusive marketing rights of its products at the Ceylon Petroleum Corporation owned outlets in 2004. (AA)

BC Computers installs automated system for Standard Chartered Bank
BC Computers last week announced the automation of the Central Clearing Department (CCD) of Standard Chartered Bank (SCB) using cheque imaging and workflow technology from Unisys.

This is the first automation of a CCD of any bank in Sri Lanka using cheque imaging technology. SCB has implemented Remittance & Lockbox (R&L) Solution from Unisys to automate its CCD, the company said in a statement.

Unisys R&L System running at the CCD of SCB also includes image enabled document transports from Unisys for scanning cheques and remittance documents and power encoding of the cheques at the full machine speed.

"Faster operations, faster clearing, improved efficiency, reduced costs, staff reduction, better customer service, value added services to customers, additional income opportunities are some of the benefits the banks reap by automating their CCDs using Unisys R&L Solution," said Robert Myers (Solutions Director, Payment Solutions-Asia) of Unisys. Gnanasiri Perera, CEO of Standard Chartered Bank said, "The system is user friendly, flexible and has its own unique features. We consider this as an investment for the future as the world is moving towards an image-based clearing process."

Mishandled baggage tracking for SriLankan passengers
SriLankan Airlines' passengers can now track the status of mishandled baggage on a WAP mobile phone or via the Internet, from home, office, or hotel room 24-hours a day, seven days a week, through the Worldtracer Online system.

"I am happy to announce the launch of 'Worldtracer Online'," says Niranjan Fonseka, Worldtracer Co-ordinator for SriLankan Airlines.

"This is a major step forward from a customer service point of view and also a further step in IT enhancement projects for SriLankan's Airport Service."

Worldtracer Online and WAP went live in July 2003 and passengers can access 'Worldtracer Online' through the SriLankan Web page (www.srilankan.aero <http://www.srilankan.aero>) by clicking on "Track.Your.Bag" or via www.worldtracer.com/filedsp/ul.htm.

To access Worldtracer Online, a passenger is required to enter a 10-digit Worldtracer File Reference Number and his/her last name.

This entry produces information regarding the status of his/her luggage and allows the passenger to update information previously given.

"This will definitely help our customers to obtain the most current information on mishandled baggage and will save a lot of time on telephone calls for both our passengers and our staff," Lilani Wijayaratne, SriLankan's Airport Service Standards Controller added according to an airlines press release.

Chamber mission to Egypt
A Sri Lankan business mission to Egypt returned with positive responses, confirmed orders and constructive business contacts.

The Ceylon Chamber of Commerce organized the 12-member mission coordinated by Sidath Kumar, Counsellor (Commercial) of the Sri Lankan Embassy in Cairo.

The members were mission leader K. Dayaparan of Stassen Exports Ltd, P.B. Yatawara, Business Development Manager and R. Welikala, General Affairs Manager, Ceylon Grain Elevators, R.P. Senanayake, Business Development Manager, Freight Links International (Pte) Ltd, R. Wakwella, Managing Partner and Ms. A.L. Gajasinghe, Partner, Ijna Gem and Jewellers, J. Karunaratne, Director, Imperial Tea Exports (Pvt) Ltd, K. Ramachandran, Commercial Executive, Jayes Trading Company, A.S. Munasinghe, Commercial Manager, Samson (Exports) Ltd and M.H. Saifudeen, Managing Director, Zafar Exports (Pvt) Ltd. Senior Assistant Secretary General Ms. Puvi Domingopillai, represented the chamber.

The delegation was interested in sourcing contacts for the export of DC, fresh coconuts, coco peat, cashew nuts, spices and black pepper, nutmeg, cloves, cinnamon, rubber-based products, tea, gems and jewellery, poultry products, food products, canned fruit, freight forwarding and import of chemicals, machinery and other accessories relating to the manufacture of rubber products.

The highlight of the mission was the signing of the MoU between the CCC, the Egyptian Businessmen's Association and the Alexandria Chamber of Commerce.

Construction Industry chamber promotes trenchless technology
Sri Lanka's Chamber of Construction Industry last week signed a Memorandum of Understanding with the Indian Society for Trenchless Technology to promote this new technology.

Trenchless technology is environmental friendly, economical and faster than traditional methods. It is the science of installing and rehabilitating the underground utilities without digging open trenches.

Trenchless technology is a set of technologies for the remote installation, rehabilitation and repair of utilities, pipelines and small tunnels. The method, also known as "No-Dig-Method", is used to lay water, shower and gas pipelines, electricity and communication cables and other underground utilities. The Sri Lanka Society for Trenchless Technology when formed will be affiliated to The International Society for Trenchless Technology (ISTT) based in the UK, according to an official statement.

Business mission to Poland next month
Ranel Wijesinha, President of the Sri-Lanka Poland Business Council, has urged Sri Lanka's business community to join a business mission to that country next month.

"This would help to gain familiarity with that country, build initial relationships which can lead towards a stronger more formal link for two-way trade, in and outbound tourism as well as inward and outward FDI. Sri Lankan enterprises that are already doing business with Poland are particularly encouraged to join," he said in a statement.

He also invited heads of the BOI, the EDB, the Tea Board to nominate senior officials, so that efforts to enhance trade and investment with Poland, are consolidated and strengthened through a single effort.

Wijesinha said Poland, shortly to be admitted to the European Union, has considerable potential as an export market for Sri-Lanka. It is also a country which broke away from the shackles of a controlled economy a little over a decade ago, successfully implemented economic reforms and restructuring programmes within a short space of time and is progressing towards a market oriented economy. "Our own liberalization programmes which commenced as far back as 1977 are yet incomplete but what is important is that our process of peace and economic reconstruction and redirection initiatives are presently receiving the attention of not only the Sri Lankan community but other stakeholders such as multilateral institutions and countries and overseas business enterprises seeking mutual benefit. At such a juncture, learning from any examples of Poland or for that matter any other nation is a necessary ingredient of a progressive and proactive mind set," he added.

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