Business

Business

BOI investment proposals rise in May
Despite the slowdown in global and local markets BOI investment proposals showed a steady increase with agreements worth Rs. 5. 4 billion being signed in May, the BOI said.

A novel BOI project is that of a new domestic airline by Monara Airline Regional (Pvt) Ltd, a Swiss investment.

The total investment in this project is an estimated Rs. 2.9 billion with an employment capacity of 56.

The company expects to purchase two aircraft initially and provide an international-level airline service.

Burns Environmental and Technologies (Pvt) Ltd signed an agreement to set up a plant in Colombo to manufacture compost fertilizer out of solid waste using the Indian technology transferred by Excel Industries Ltd, India.

Star Building Quartz (Pvt) Ltd is a Taiwanese project to manufacture silica quartz products for the export market. The project is at Wellawaya and is a Rs. 634 million investment. In the IT sector three companies - Rapid X Colombo (Pvt) Ltd, Roma Associate (Pvt) Ltd and Hellocorp (Pvt) Ltd with an investment of Rs. 7 million, Rs. 6 million and Rs. 17 million, respectively will set up projects to develop computer software for the export market. In the apparel sector 11 companies - Cupid Export (Pvt) Ltd, Shiran Apparels (Pvt) Ltd, J S W Apparels (Pvt) Ltd, Himaco Garments (Pvt) Ltd, Interlok Fashion (Pvt) Ltd, Saemaul Clothing Exports (Pvt) Ltd, Nilano Garments (Pvt) Ltd, Thiro Garments (Pvt) Ltd, Taj Garments (Export) Ltd, Everest Garments Exports (Pvt) Ltd and Five Star Apparels (Pvt) Ltd were granted BOI status under the harmonization scheme.

Al Maha bonus for Emirates First Class Travellers
A complementary night's stay at Emirates' unique, five star desert resort hotel, is being offered to all first class passengers flying to Europe or Africa via Dubai during July 15 to August 15, the airline said. Situated in a 25 square kilometre desert conservation area just 45 minutes from the centre of Dubai, Al Maha offers both ultimate luxury and immediate access to the wonders of the Arabian desert.

Emirates, the Dubai-based international airline and owner of Al Maha, is making the offer to travellers from Sri Lanka for this period to bring greater awareness of this very special resort. "This is a good opportunity for our corporate clients to enjoy one of the world's top resorts," an airline spokeswomen in Colombo, said. "Both Al Maha and Emirates have won many international accolades."

The award-winning Al Maha resort comprises 30 suites, each with its own temperature controlled swimming pool. The price of a suite ranges from $ 800 (Rs. 76,000) to $ 2,750 (about Rs. 261,000) per night with full board.

Royal Fernwood produces the best
By Hiran Senewiratne
Royal Fernwood Porcelain Limited (RFPL) wants to be nothing less than the most efficient porcelainware producer in the world.

The factory, situated on a 25-acre site at Kosgama, near the border of the Ratnapura district, lies amidst picturesque surroundings and lush green vegetation.

RFPL commenced operations as a Board of Investment (BOI)-approved venture in 1997, with a Rs. 1 billion investment and state-of-the art machinery.

The company now boasts of an annual turnover of over Rs. 450 million and exports a range of products - including saucers, plates, cups and bowls - to countries such as the United States, Japan and Canada.

"We have been successful due to the high quality of our products and competitive pricing," said RFPL Chairman Jagath Peris.

RFPL is widely recognised in the porcelainware industry as having the most sophisticated factory of its type in Sri Lanka and producing the best quality porcelain products in the country.

Peris, one of the founding partners in the massive project, said he intends building the business into one of the best porcelainware companies in the world. RFPL boasts of a 555-strong contented workforce.

Peris, a frequent traveller, said RFPC is the best porcelainware factory in Asia. He is optimistic that it can achieve world class standards shortly.

With its latest equipment, it takes just a few minutes to produce any item, from the beginning of the process to the finished product, he said.

RFPL is in the process of obtaining the ISO 14001 certificate for good environment practices, having already completed the final audit for the standard. It is also an ISO 9001 certificate holder, which signifies that its products conform to high standards.

This environmentally and employee-friendly factory produces items that are beautifully packaged and second to none in the world, Peris said. All designs are done by local experts, mostly from around Kosgama, he said.

By adhering to ISO 14001 standards, the company also minimises harmful emissions and ensures it does not harm the local environment.

Peris said that although all machinery and technical know-how are from Germany and Japan, the entire operation is handled by local workers, 80 percent of whom are from the area.

RFPL imports about 60 percent of its raw material, with the rest obtained locally, mainly from Rattota and Matale.

RFPL's technical general manager, N.K.D Sarathchandra, said all employees are provided with uniforms and gloves to ensure safety.

The designs on the porcelainware are done manually and with meticulous care, Peris said.

The factory possesses a well-equipped modelling department where workers always make a point to produce unique designs, he said. The company manufactures nearly half a million pieces of porcelain tableware per month, of which 90 percent is exported.

Under BOI regulations, exporting companies are required to sell 10 percent of their products in the local market, Peris said.

The company has achieved a number of milestones. Last year it acquired the ISO 9001 certification. It is also the first local porcelain company to obtain a quality standard certificate from the Sri Lanka Standards Institute (SLSI).

Peris also said the SLS certification would improve the company's competitiveness and brand image in both the export and local markets.

hSenid implements integrated solution
hSenid Software International, a HRM and Payroll solution provider in Sri Lanka and Sri Lanka Telecom, the main fixed phone operator, have jointly completed the implementation of an integrated HRM and Payroll solution.

The fully functional HRM and Payroll solution processes records of approximately 11,000 employees island-wide. The integrated solution addresses all HRM and Payroll related functionality, in addition to sharing information with other party application such as CODA financials, Fixed Assets, Fund Management, TBR system, etc. and the easy to use applications provide the user a wide variety of functionality in terms of managing the companies human resource and payroll needs.

"Grooming to meet the challenges ahead of us in the communications sector and improving the efficiency and effectiveness of our human resources is of paramount importance," says Thilak Silva, Head of Division - IT SLT.

"This large-scale integrated solution implementation has given our employees valuable experience and exposure into implementing large scale solutions," noted Dinesh Saparamadu, CEO hSenid.

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