12th March 2000

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Mackwoods Infotech and APTECH India join hands

Mackwoods Infotec and APTECH LTD India has joined hands to launch the APTECH Computer Education centre in Borella and ARENA Multimedia Training Centre at Wellawatte.

Mackwoods' Borella APTECH Computer Education Centre will initially offer students a range of IT courses from a 6 months basic course to 1 years Bachelors Degree in International Technology from the famous Manipal University, India.

APTECH is the first educational institution in India to receive the ISO 9001 certification for educational support services. The curriculum comprises of every conceivable area of IT, Software Engineering, Networking, The Internet, Client-Server Technologies, Mainframe Technologies, Multimedia and Computer Arts to mention a few. With a team of highly qualified lecturers and a computer lab equipped with the latest computers and facilities, it is centrally located and easily accessible. They also hope to launch the ARENA Multimedia centre in Wellawatte shortly.

FCCISL Trade Mission to B'desh

The Federation of Chambers of Commerce and Industry of Sri Lanka, the apex body of the private sector is organizing a high powered business delegation to visit Dhaka, Bangladesh from 27-31 March. The visit is being organised in association with the Sri Lanka-Bangladesh Business Council and the metropolitan Chamber Commerce and Industry of Dhaka Bangladesh.

The objective of this Trade Mission is to explore potential trade and investment opportunities in Bangladesh. Trade statistics reveal that bilateral trade between Sri Lanka and Bangladesh has shown a sharp increase in the recent past signifying the potential available in Bangladesh for Sri Lankan products and services.

A number of Sri Lankan companies have already invested in Bangladesh and are successfully running their businesses. Over 5000 Sri Lankans are also employed in Bangladesh.

With the SAPTA process being expedited new trade and investment opportunities are emerging in the south Asian Countries.

"Infrastructure 2000" - Product Catalog Show

The US Embassy in Colombo will present a multi-product catalog show consisting infrastructure related technology on March 16th and 17th at the Galadari Hotel from 10.00 a.m to 7.00 p.m each day.

'This show will feature some of the most sophisticated technology available in the US for the respective industry sectors on display, with Colombo being one of 15 cities in 12 countries where the exhibition will be held', said Mr. Michael Owen, Counsellor for Economic and Commercial Affairs of the Embassy. 'Infrastructure development has been identified as a key area for growth as well as attracting investment, which has initiated this promotional effort by the Embassy to promote American technology, renowned for its level of sophistication and reliability', added Mr. Owen.

On view will be over 100 catalogs featuring sectors such as Telecommunications, Airport and Ground Support Equipment, Architectural/Construction/Engineering Services, Building and Construction Equipment, Computers and Software Developers, Electrical Power Generation, Education and Training, Electronic Components, Environmental Technologies, Health Care Services, Franchising, Food Processing, Medical Equipment and Pharmaceuticals, Metalworking, Oil and Gas Field machinery and Services and Safety and Security.

This show will be of particular interest to Organizations and Businesses looking to market infrastructure related technology as well as for users looking for suppliers to meet their requirements. A unique feature of this event is that all the participating companies have expressed keen interest for active representation in each of the countries that the show will be presented.

The Embassy staff will be present to provide additional information and assist companies/institutions facilitate information requests and follow-up activities.

Ceylinco Life offers unique investment plan

Ceylinco Insurance, has launched "Ceylinco Deguna," a unique investment plan which doubles a customer's investment within a short period of 6 years. The simple interest earned by customers is an attractive 16.67 percent per annum, a release said.

According to Mr Stuart Chapman, Director Ceylinco Insurance, a customer who invests Rs 1 million will receive a guarantee maturity value of Rs 2 million which is double the investment, over a short period of six years. In addition to this attractive return, the plan also provides a life cover to the investor which in most cases is equal to the value at maturity.

Mr Chapman added that this was a good opportunity not only for large investors but also for small investors as the company accepts investments as low as Rs 5000.

"Since the launch of this project, we have seen a great deal of interest not only from urban customers but, also from rural sectors as well," he said.

Ceylinco Deguna can be purchased at any one of the 66 Ceylinco Deguna Centers established Islandwide.

It is easy to purchase since investment is a single payment and customers are not required to undergo medical checks.

Another unique benefit to the customer is that Ceylinco Deguna is a tax-free investment.

"This opportunity is limited to Rs 400 million in investment maturities and will close as soon as the maturities are fully subscribed," Mr Chapman added. The plan could also be offered to banks as security.

ICASL Accounting Standards published

Institute of Chartered Accountants of Sri Lanka published its 1999 Bound Volume of Sri Lanka Accounting Standards recently. The new volume includes.

o preface to Sri Lanka Accounting Standards;

o the Framework for the Preparation and Presentation of Financial Statements;

o three Sri Lanka Accounting Standards that are effective for financial statements covering periods beginning on or after 1st April, 2000. (SLAS 3, 28 and 34) and twenty-five Sri Lanka Accounting Standards effective as on date. The Volume is useful for all those who are engaged in the preparation, presentation and audit of financial statements, a release said.

The "Specified Business Enterprises" which are required to follow the Sri Lanka Accounting Standards in the preparation of financial statements as required in the Sri Lanka Accounting and Auditing Standards Act No. 15 of 1995 are:

o Banks o Unit Trust

o Insurance Companies o Fund Management Companies

o Leasing Companies o Stock Brokering Companies

o Factoring Companies o Stock Exchanges

o Finance Companies o Listed Companies

The 1999 Bound Volume of Sri Lanka Accounting Standards is available direct from ICASL Library at a price of Rs. 1000/- each.

Consultancy House launched

A team of experienced professionals have launched the 'Consultancy House', with a view to serve the small and medium level business in Sri Lanka, who could not afford consultancy services in the past due to high cost, a press release says.

The main objective of the 'Consultancy House' is to usher the planning culture into business organisation to strengthen it. Further, tracking external opportunities and providing necessary advisory services to capture them is the most critical part they are actively involved in.

Concept development, concept testing, campaign planning, testing, evaluation, demand studies, brand tracking, designing promotions, project formulation, resources mobilisation, strategic planning, corporate planning and monitoring are among their business services.

For further details please contact Mr. Ritsy de Silva (Dip. M-UK). Tel: 812633 or write to: The Consultancy House, 108D, 3rd Floor, Stanley Thilakeratne Mawatha, Nugegoda. Free consultation will be possible by prior appointment.

LB Finance commences "Saturday Service

LB Finance has introduced yet another service for the convenience of their customers by keeping their offices open on Saturdays.

A simple ceremony was organized to launch this service on Saturday March 4, 2000.

The above picture shows Deputy General Manager Sandya Silva accepting the first deposit from P.M.K. Gunasena. Srilal Wanigaratne Assistant General Manager Fixed Deposits and Ms. Thushari Perera look on.

Mackinnons win Gold Award

For the eight years in succession, Sri Lankan Airlines has awarded Mackinnons Travels its Gold Award, given to the airline's top passenger agent in Sri Lanka. Mackinnons Travels was also awarded the Gold Award from Emirates as its top passenger agent in Sri Lanka, for 1998/1999, the second time in two consecutive years. Known as a long-established player in the travel trade, Mackinnons has proved again its ability to compete successfully in the trade, a release said. In the above picture Trevor Rajaratnam, Managing Director of Mackinnons Travels, accepts the Gold Award from Sugath Rajapakse, Senior Manager, Revenue Optimisation at Sri Lankan Airlines.

Another Branch for Hameedia's

A new tailoring department of Hameedia's was opened at No. 34, Galle Road, Wellawatte recently. The Chief Guest Manilal Fernando Chairman of the Football Federation of Sri Lanka is seen selecting a shirt material while in conversation with the Managing Director of Hameedia's Group of companies Fouzul Hameed and Mumtaz Marikkar Manager.

Harcourts opens new branch

Picture shows Dr Ruwan Ekanayake, cardiologist (centre left) who was the chief guest at the opening of Harcourts super drug store at Darley Road, pose alongside Mr Ahamed Rheyas, Managing Director Harcourts ( centre right) and other senior members of the staff and guests.

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