Sri Lanka Newspapers - 12/01/2012

Bourse sheds 6-day losing streak with marginal gains

The Colombo bourse yesterday shrugged off a six-day losing streak by moving marginally up on a turnover of Rs.577.7 million, up from the previous day’s Rs.534.3 million, with the All Share Price Index up 5.39 points (0.09%) and the Milanka up 14.74 points (0.30%) with 93 gainers outpacing 61 losers.

The bulk of the day’s business came off Environmental Resource Investments (ERI), Textured Jersey, Nestle, Commercial Bank, Ceylon Tobacco and JKH, brokers said.

"The market continued to be sluggish with much of the day’s business volumes coming from ERI where over 4.4 million shares were traded and Textured Jersey which saw a crossing of over 3.3 million shares," Prashan Fernando of Acuity Stockbrokers said.

ERI which slipped following its warrant conversion closed Rs.1.60 up at 29.10 on 4.4 million done between Rs.27 and 29.40 generating the day’s top turnover of Rs.125.9 million.

The company’s warrants (W0002, W0003 and W0006) also saw both quantity and price gains.

Textured Jersey closed 10 cents up at Rs.10 on nearly 3.5 million shares done between Rs.9.90 and Rs.10.50 contributing the day’s second highest turnover of Rs.55.5 million.

Brokers said that nearly the total quantity was accounted for by a single parcel crossed at Rs.15 with smaller quantities traded between a low of Rs.9.90 and a high of Rs.10.30.

Pricey Nestle finished third on the turnover league generating Rs.42.8 million on a small quantity of 46,700 shares. The counter closed Rs.5.40 up at Rs.915 trading between Rs.914 and Rs.920 with one parcel of 41,000 traded at Rs.916 accounting for the bulk of the trades.

Commercial Bank closed 40 cents up at Rs.100.40 on nearly 0.4 million shares done between Rs.100 and Rs.101.50 while Ceylon Tobacco edged up 10 cents to close at Rs.480 on 41,200 shares done between Rs.477 and Rs.480. One parcel of 25,000 shares was done at Rs.480.

JKH closed Rs.2 up at Rs.167 on 0.1 million shares done between Rs.165 and Rs.168.

The CSE announced that Asian Asset Finance will be listed today (Thursday) with 559.5 million shares listed following its recent offer for subscription. Of the total number of shares to be listed, 118.3 million shares were allotted on the offer.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=42974

* Rising rates would keep demand in check, says Central Bank
* Some stabilisation of rates seen, it says, but market rates continue to inch upwards
* Higher credit growth reason for liquidity tightening, dollar sales not mentioned

The Monetary Board of the Central Bank has decided to hold key interest rates unchanged because it feels rising market interest rates would dampen demand and keep a check on growing credit, the bank announced. However, the sale of dollars to keep the exchange rate stable is drying up rupee liquidity in the system as well, and the Central Bank has made no mention of this aspect in its Monetary Policy Review for January which was released yesterday (Jan. 11).

The repurchase rate will remain unchanged at 7 percent and the reverse repurchase rate will stay steady at 8.50 percent. These rates apply to commercial bank overnight deposits of excess rupees with the Central Bank and for borrowings from the Monetary Authority as a last resort to maintain liquid positions.

Interest rates have come under pressure in recent months as liquidity tightened in the market due to high credit growth and dollar sales by the Central Bank to keep the rupee stable against the dollar despite severe import demand.

"Credit obtained by the private sector remained robust through 2011, and by November, recorded a year-on-year growth of 33.5 percent. Largely reflecting the robust expansion of credit, broad money growth also remained at a level higher than that projected for 2011. Year-on-year growth of broad money (M2b) was 20.6 percent by November. However, market interest rates moved upwards in recent months, in line with changing liquidity conditions in the domestic money market," the Central Bank said.

"As a result, the benchmark yield on one year Treasury bills recorded an increase of around 175 basis points in 2011, while the average weighted deposit rate (AWDR) recorded an increase of about 100 basis points. Meanwhile, the average weighted prime lending rate (AWPR) increased by around 120 basis points in 2011, although at the last auction, the weighted average yields on Treasury bills in the primary market remained unchanged, indicating some stabilisation in market conditions. These moderate upward movements in interest rates are likely to exert a restraining effect on monetary aggregates, which would, in turn, help to curb the build up of demand pressures," it said.

Dealers said pressure on yields was evident at this week’s auction of Treasury bills, but with state-names participating, the Central Bank could control rates to a certain degree. Interbank interest rates increased further yesterday.

The Sri Lanka Inter Bank Offered Rate increased to 9.12 percent yesterday from 8.84 percent the previous day.

Call money market rates for interbank borrowings without security edged up to 9.12 percent from 8.92 percent and market repo rates for borrowings backed by Treasury bills inched up to 8.30 percent from 8.11 percent.

The movement in these rates were kept in check by the Central Bank infusing Rs. 20 billion into the market through a cash auction, buying up Treasury bills at 8.17 percent.

Treasury bills stayed flat at yesterday’s auction.

The rupee closed at Rs. 113.89/90 against the dollar yesterday as the Central Bank continues to sell dollars to stabilise the rate at this level.

The bank has spent more than US$ 850 million on keeping the exchange rate steady since the rupee was devalued last November, Reuters reported yesterday. It spent a net US$ 1.79 billion in the first 10 months of last year to keep depreciation pressure at bay.

"Taking into consideration the above developments, the Monetary Board is of the view that the present policy framework does not require any adjustment and accordingly, at its meeting held on January 10, 2012, decided to maintain the Bank’s policy interest rates unchanged at their current levels, i.e., the Repurchase rate at 7.00 percent and the Reverse Repurchase rate at 8.50 percent, the Central Bank said.

With the country’s balance of payments under siege, as some dealers say, the Central Bank continued to be optimistic about the near term scenario on the external front. Notwithstanding the impact higher interest rates would have on finance costs, the Central Bank says inflation would remain at mid single digit levels throughout this year.

"In the third quarter of 2011, GDP grew by 8.4 per cent, with all three sectors, Agriculture, Industry and Services, contributing towards that growth performance. GDP growth in 2011 is estimated to be around 8.3 per cent. In the meantime, the significant structural changes that have taken place in the Sri Lankan economy over the last several years are expected to provide the momentum for the economy to grow by about 8 per cent in 2012, even in the midst of the slowdown in global economic activity," the Central Bank said.

"Continued development efforts aimed at improving economic and social infrastructure are expected to augment the productive capacity of the country and thereby enable the realisation of the country’s growth potential. Improvements in infrastructure would also help eliminate supply bottlenecks, thus helping to reduce price pressures. As inflation is expected to remain around mid-single digit levels in 2012, broad money (M2b) is expected to grow by around 15 per cent in 2012, as announced in the ‘Road Map for Monetary and Financial Sector Policies for 2012 and beyond’.

"The ongoing structural changes in the economy are also likely to be reflected in the external sector, with earnings from tourism projected to increase to US dollars 1.2 billion, migrant worker remittances expected to increase to US dollars 6.5 billion, foreign direct investment (FDI) projected to record US dollars 2.0 billion, and inflows of debt capital to the private sector also expected to increase significantly in 2012.

"On the fiscal front, preliminary estimates indicate that the government has contained the fiscal deficit to a level within the revised target of 7 per cent of the GDP in 2011. It is expected that the government would bring down the fiscal deficit to 6.2 per cent of the GDP in 2012, thereby augmenting the resource availability to the private sector further," the Central Bank said.

Dealers point out that increasing interest rates would make consolidation of the fiscal balance challenging.

Treasury Secretary Dr. P. B. Jayasundera recently called for a tightening of monetary policy (increasing rates) coupled with another devaluation of the rupee.

The release of the next regular statement on monetary policy will be on 9th February 2012.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=42973

Capital market watchdog the Securities and Exchange Commission of Sri Lanka (SEC) said it would make a final decision on allowing brokers to extend credit to their clients next Monday (Jan. 16).

"At the 294th Commission Meeting of the Securities and Exchange Commission of Sri Lanka held on Wednesday (Jan. 12), the Commission Members discussed the subject with regard to extension of credit by Stock Broker Firms and decided to take a final decision on Monday 16th January 2012," a brief statement issued by the Commission said.

There was no word as to the appointment of the next Director General, but sources said the selection process, handled by SEC Chairman Tilak Karunaratne, was ongoing.

"We are made to wait a while longer for the credit extension ruling, but on more serious issues such as the direction and intensity the regulator would take on market irregularities, we would probably have to wait a while longer until the Director Generalpost is filled," a broker said.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=42975

Investors keen on Mattala Airport
Several airlines consent to operate flights:
Shirajiv Sirimane
Qatar Airways, one of the five star airlines in the world, has consented to operate flights to the country’s second international airport at Hambantota from next year. Aviation Minister Priyankankara Jayaratne said they had discussion in this regard with Qatar authorities recently who responded positively in this regard. He said that in addition, Fly Dubai, a budget airline operating from Abu Dhabi will also be operating flights to the country’s second international airport in Mattala.

Deccan Aviation from Sri Lanka has also spelled out plans to launch cargo flights based from the proposed Hambantota International Airport (HIA).

Meanwhile, SriLankan Airlines CEO Kapila Chandrasena said that they are keen in getting involved in the cargo and ground handling sectors as well as take over the catering business at the Mattala Airport which is expected to get off the ground end of the year.

He said that the national carrier SriLankan Airlines installed a flight simulator in Colombo last year to train pilots, flying narrow bodied aircraft. “We are hoping to acquire an additional wide bodied simulator this year which is likely to be installed in Mattala,” he said. With the commissioning of the domestic airport in the Colombo International Airport Chandrasena also mulled plans of Mihin Lanka operating internal flights to Mattala. “SriLankan is also looking at taking over some of the operations such as catering in Ratmalana which is to be upgraded as a City Airport,” he added.

He also disclosed that for the first time the airline is also looking at installing self check in kiosks at the Colombo Airport.

Chandrasena who is also the CEO of budget airline Mihin said that this year they would go on a major expansion drive in all sectors and target to have a fleet of 27 aircraft and five air taxis. He said that the 2012 budget allocated a financial injection of US $ 100 million each for a period of five years for Mihin Lanka’s investment plans.

Commenting on the national carrier profits, he said that if the oil prices which has increased by over 27 percent remains stable they should be able to show profits from 2014.

Airport and Aviation Services Limited (AASL) Chairman Prasanna Wickramasuriya said that the building of the US $ 190 million Hambantota Airport is on schedule. He said that they have already contracted a hotel to build an airport hotel and request for proposals are being called to woo investors to the HIA Project. “The HIA will also offer a tax free investment zone and they are trying to get international airliner servicing companies, training schools and other support services to start up businesses in the proposed zone.

http://www.dailynews.lk/2012/01/12/bus01.asp

Investment Rs. 1.1 billion
Indunil Hewage in Pannala
Nestle Lanka Limited marked another milestone when they opened their state-of-the-art noodle factory at Pannala, Kurunegala yesterday with an investment of Rs.1.1 billion. With the opening of the new factory, their capacity would increase to 16,000 metric tons per annum.

Touching on future plans, Nestle Lanka PLC, Managing Director Alois Hofbauer noted that the new investment worth Rs 1.1 billion had been made in keeping with the company’s Rs 10 billion investment plan for Sri Lanka announced recently.

The company had also invested Rs. 2 billion last year for various expansion projects in the country.

The newly opened noodle plant is the company’s first investment in 2012.

http://www.dailynews.lk/2012/01/12/bus02.asp

Amali Nanayakkara named Dialog’s Group CMO

Amali Nanayakkara
Dialog Axiata PLC announced yesterday the appointment of Amali Nanayakkara as its new Group Chief Marketing Officer. Mrs Nanayakkara will take up office in February 2012. Nanayakkara, a renowned marketing professional and business leader, brings to the Dialog Group a wealth of experience derived from over 20 years in senior management postings in Sri Lanka and overseas.

An honours graduate from the University of Colombo, Nanayakkara commenced her career at Unilever, where she traversed multiple leadership roles, to be appointed to the Board of the company in July 2001, in the capacity of Director, Foods & Personal Care. Following a 6 year tenure as a Board Member of Unilever, Nanayakkara transitioned to the Telecommunications sector as the first CEO and Managing Director, of Bharthi Airtel Lanka Ltd.

During her four year tenure as a Telco CEO, Amali led from inception, the establishment of a mobile telecommunication business in Sri Lanka and garnered for the company a significant foothold on a fiercely competitive industry landscape.

In her new role as the Group Chief Marketing Officer at Dialog Axiata PLC, Nanayakkara’s marketing portfolio will span the Mobile, Fixed Line, Broadband, and Digital Television Services of the Dialog Group.

Dialog Axiata PLC, a subsidiary of Axiata Group Berhad (Axiata), operates Sri Lanka’s largest and fastest growing mobile telecommunications network.

The Company is also one of the largest listed companies on the Colombo Stock Exchange in terms of market capitalization.

http://www.dailynews.lk/2012/01/12/bus03.asp

JRT Nippon Lanka invests US $ 1.8 m
Hemanthi Guruge
JRT Nippon Lanka Pvt Ltd has invested US $ 1.8 million to manufacture high performance insulating materials for export.

JRT Nippon Lanka Pvt Ltd Executive Director Finance Anton Fernando told Daily News Business that production for the high performance insulating material will commence in May this year. Initially, they are focusing on export market and later will be introduced to the local market if the material is in good demand. The factory manufacturing high performance insulating material is being constructed in the BOI Export Processing Park at Malwatta in Nittambuwa and it will provide employment to over 200 people.

Most of the raw material needed in the manufacture of high performance insulating materials will be imported. High performance insulating materials are being used for a wide variety of residential, commercial, and industrial applications by using advanced nanotechnology. These can be used to control the heat of any heating system, and to retain the coolness of electric items such as air-conditioners, refrigerators, coolers, etc. They have developed six main types of insulating materials NSR-1, NSR-2, NSR-3, NSR-4, NSR-5, and NSR-6.

The whole series of these NSR insulating materials have displayed superior insulating capabilities as well as excellent acoustical and environmental benefits.

These high-performance insulating materials are especially designed to cut-down the energy consumption in factories, offices and homes. This innovative mechanism to minimize pollution goes hand-in-glove with the much desired global necessity of effective use of resources.

http://www.dailynews.lk/2012/01/12/bus04.asp

RAM ratings for Janashakthi
Janashakthi Insurance PLC continues to drive forward with consistent growth as revealed by RAM Ratings Lanka. The Company rated Janashakthi’s long - and short-term claims-paying-ability ratings at A- and P2 respectively, a testament to Janashakthi’s consistent service delivery and tenacity within the competitive market.

One of the fastest growing local companies, Janashakthi has the highest paid up capital among quoted insurance companies and has shown high profitability and growth amidst tough market conditions. “We seek to continuously improve our performance and consistently deliver on our ethos of building consumer trust,” said. Janashakthi’s Managing Director Prakash Schaffter. “The ratings by RAM is a true reflection of our performance and strength and an endorsement of all the hard work we put into reach where we are today in this highly competitive industry which has recently seen the entry of many new players,” he said.

Janashakthi’s shareholders’ funds to insurance funds and shareholders’ funds to total assets ratios improved to 36.96 percent and 22.77 percent respectively. RAM Ratings has valued Janashakthi based on a number of factors, including Janashakthi’s competitive position, financial performance in the life segment and capitalisation levels. Janashakthi’s overall competitive position is strengthened by the company’s market presence and geographically extensive branch-network and franchise, the country’s third largest.

The company’s Gross Written Premiums (GWP) have shown a steady increase in 2011 compared to the previous Year. The increase in GWP has been equally supported by both the Life and General segments as a result of the company’s concentrated efforts to grow its portfolios.

http://www.dailynews.lk/2012/01/12/bus05.asp

Salt production to reach optimum
Sanjeevi Jayasuriya
Sri Lanka could reach self-sufficiency and have excess production in salt in a few years as the three salterns under the Kingdom of Raigam will be operating to full capacity shortly.

The Raigam Eastern Salt Company (Pvt) Ltd will start its production this year and commercial production will take a few more years. With Raigam Wayamba Salterns PLC and Southern Salt Company (Pvt) Ltd in full operation the country could attain self-sufficiency in the near future, Kingdom of Raigam Chairman Dr. Ravi Liyanage told Daily News Business.

The enhanced production capacity will reduce the foreign exchange drain where at present 15,000 metric tones of salt are imported. Retaining foreign exchange is important as earning and it will supplement the government efforts of import substitute industries where Raigam is currently working towards, he said.

The company has planned an investment commitment of Rs 300 million and will be diversified into eco tourism in Trincomalee where the project will be invested Rs 500 million.

‘The Group has identified an opportunity into moving to eco tourism based on saltern operations which will be a new experience for both local and foreign tourists.

The envisaged tourist project will not be a disturbance to the salt operation and could consider as a value addition’, he said.

The company is in the process of obtaining relevant approval from affiliated authorities at present. The tourism operation at Trincomalee is nature friendly and will reinforce salt operations while optimizing value creation from national resources.

Raigam Wayamba Salterns PLC which started its commercial operations in mid 2005 has posted Rs 136 million turnover and Rs 18 million profit after tax for the six months ended September 30,2011.

As per the promise made to shareholders in the event of executing the IPO, the Group has planned to integrate the ownership of Raigam Eastern Salt Company (Pvt) Ltd to Raigam Wayamba Saltern PLC in the near future.

The company has been in a massive projects development phase of the salterns and new plant establishment while concentrating on its revenue generating business unit of free flow salt manufacturing and distribution.

http://www.dailynews.lk/2012/01/12/bus06.asp

Colombo bourse: upward rally in morning
The Colombo bourse was expected endure a greenish trading session on account of the favourable responses anticipated from the commissioners meeting. The market displayed upward rally in the morning, however lost its momentum in the midway.

ASI increased by 5.39 points (+0.09%) to close at 5,865.06 and sensitive MPI jumped by 14.74 points (+0.30%) to end at 5,010.22.

Market turnover stood at Rs.577.7 million.

Environmental Resources Plc (Rs.165.1 million) emerged as the highest contributor to the daily turnover. In addition Textured Jersey Plc (Rs.51.7 million) and Nestle Plc (Rs.42.8 million) made strong contributions to the turnover.

Meanwhile aggressive level of trading was seen in HVA Foods Plc and Environmental resource counth

Foreign participation was posted at 21.9 percent of the total market activity and at the end of the day foreign investors were the net sellers with the net foreign outflow of Rs.78.1 million

Courtesy Lanka Securities Research

://www.dailynews.lk/2012/01/12/bus07.aspers.

Hospitality marketing in Sri Lanka
Prasanna Perera, Marketing and Management Consultant, Chartered Marketeer, CIM U.K.


Prasanna Perera,
Marketing and Management Consultant,
Chartered Marketeer,
CIM U.K.
The hospitality industry is one of the largest in the world, covering many products and services and providing employment to billions. Therefore, marketing of hospitality services is important, to gain a competitive advantage, in a fiercely competitive industry.

Hospitality industry
The hospitality industry, covers travel, tourism, accommodation services, airlines, restaurants to name a few. These businesses are growing in Sri Lanka, as a result of the peaceful environment prevailing in the country. Hence the importance of marketing these services, to generate valuable foreign exchange.

Hotels in Sri Lanka
Many different types of hotels are operational in Sri Lanka, ranging from Star Class City Hotels, to beach resorts, to boutique hotels, to guest houses and even rest houses. Whatever these may be, a clear focus on the guest is paramount. However, the present service standards need a dramatic improvement, if Sri Lanka hopes to gain repeat clientele - both expatriates and locals.

Hotels in Sri Lanka pay too much attention on operational efficiency, neglecting the “softer” dimensions of guest satisfaction and delight. Operational efficiency is important, but needs to be balanced together with guest needs, wants and satisfaction.

Restaurants
Many different types of cafes, fast food outlets and drive-in restaurants are opening up, especially in the Western Province. This is a good omen, since both expats and locals can enjoy a wide variety of food and beverage.

Restaurants should focus on “quality” at all times, both product and service. No short cuts or compromises here please. Staff training is a must and retention of competent staff given priority. Without talented and committed staff, the long term sustainability is another critical area. Restaurants in Sri Lanka have been famous in the past, to provide excellent food at the inception and then gradually drop the quality, to maximize profits. This short term thinking should stop, if the hospitality industry standards are to be sustained in the country.

Pizza Hut is a good example of maintaining product and service quality standards. The success of Pizza Hut is also the innovativeness in menu’s and the variety offered. Pizza Hut has also been adventurous in distribution, expanding their reach outside the Western Province.

Airlines
Presently there are over 30 airlines serving Sri Lanka, together with SriLankan and Mihin. As a country, we need to provide excellent service to the foreign airlines serving Sri Lanka. Accessibility to the country is very important, for the hospitality industry to thrive. SriLankan Airlines is a pillar in the hospitality industry, supported by Mihin Air. Mihin Air and SriLankan Airlines need to be positioned clearly, so that synergies can be achieved. Understanding passenger needs, quality enhancements, value additions and innovativeness are required for these two carriers to remain competitive, in a fiercely competitive industry. The success of these two airlines are paramount for the image of the country. Take Singapore Airlines and the image created for Singapore. Malaysian Airlines and the positioning of Malaysia as “Truly Asia”. These are two very good examples to emulate.

Tourism
Tourism is a major force in the hospitality industry. For a country such as Sri Lanka, tourism dollars is essential for a range of important reasons namely, generating employment, economic growth and sustainability. Whilst it is heartening to note the initiatives taken to improve tourism in Sri Lanka, there are concerns relating to marketing strategy. For example, have we clearly understood the segments that need to be targeted? Is it the budget tourist, value-for-money tourist or premium tourist? Is it the Western visitor or Eastern visitor or both? These are valid questions that need clear answers.


There are many opportunities for tourism industry in Sri Lanka.
Positioning of ‘Brand Sri Lanka’ is another issue. Various promotional themes have been bandied about, resulting in confusion. Positioning a brand, should not be confused with a promotional theme. Malaysia is positioned as a country that truly understands Asian culture and values. (Truly Asia). India is positioned as a land of magic and variety. (Incredible India). Thailand is positioned for fun, sun, sand and shopping and hence, “Amazing Thailand.” What about Sri Lanka? This is where the problem lies. What is Sri Lanka’s positioning? Small miracle, land like no other, big miracle, small island, big experience!! Decide on a positioning strategy and stick to it. Don’t change it frequently, which leads to utter confusion.

Human resources
If the hospitality industry is to thrive in Sri Lanka, human resources will need to be harnessed. Presently there is a scarcity of good quality staff, both at operational and strategic levels. There should be concerted efforts to retain talented staff in the country and also to encourage Sri Lankans working overseas to return and serve the industry. Of course, they should be rewarded adequately, to motivate them to return to Sri Lanka.

The hotel schools, universities and professional institutes need to offer more courses in hospitality and tourism marketing, to enhance the skill pool in the country.

Building hotels and increasing capacity is well and good but without competent staff the results would be disastrous.

“In a hospitality or service organization, if you are not serving the customer, you had better be serving someone who is.” (Jan Carlzon)

The hospitality industry is one of the largest in the world, covering many products and services and providing employment to billions. Therefore, marketing of hospitality services is important, to gain a competitive advantage, in a fiercely competitive industry.

Hospitality industry
The hospitality industry, covers travel, tourism, accommodation services, airlines, restaurants to name a few. These businesses are growing in Sri Lanka, as a result of the peaceful environment prevailing in the country. Hence the importance of marketing these services, to generate valuable foreign exchange.

Hotels in Sri Lanka
Many different types of hotels are operational in Sri Lanka, ranging from Star Class City Hotels, to beach resorts, to boutique hotels, to guest houses and even rest houses. Whatever these may be, a clear focus on the guest is paramount. However, the present service standards need a dramatic improvement, if Sri Lanka hopes to gain repeat clientele - both expatriates and locals.

Hotels in Sri Lanka pay too much attention on operational efficiency, neglecting the “softer” dimensions of guest satisfaction and delight. Operational efficiency is important, but needs to be balanced together with guest needs, wants and satisfaction.

Restaurants
Many different types of cafes, fast food outlets and drive-in restaurants are opening up, especially in the Western Province. This is a good omen, since both expats and locals can enjoy a wide variety of food and beverage.

Restaurants should focus on “quality” at all times, both product and service. No short cuts or compromises here please. Staff training is a must and retention of competent staff given priority. Without talented and committed staff, the long term sustainability is another critical area. Restaurants in Sri Lanka have been famous in the past, to provide excellent food at the inception and then gradually drop the quality, to maximize profits. This short term thinking should stop, if the hospitality industry standards are to be sustained in the country.

Pizza Hut is a good example of maintaining product and service quality standards. The success of Pizza Hut is also the innovativeness in menu’s and the variety offered. Pizza Hut has also been adventurous in distribution, expanding their reach outside the Western Province.

Airlines
Presently there are over 30 airlines serving Sri Lanka, together with SriLankan and Mihin. As a country, we need to provide excellent service to the foreign airlines serving Sri Lanka. Accessibility to the country is very important, for the hospitality industry to thrive. SriLankan Airlines is a pillar in the hospitality industry, supported by Mihin Air. Mihin Air and SriLankan Airlines need to be positioned clearly, so that synergies can be achieved. Understanding passenger needs, quality enhancements, value additions and innovativeness are required for these two carriers to remain competitive, in a fiercely competitive industry. The success of these two airlines are paramount for the image of the country. Take Singapore Airlines and the image created for Singapore. Malaysian Airlines and the positioning of Malaysia as “Truly Asia”. These are two very good examples to emulate.

Tourism
Tourism is a major force in the hospitality industry. For a country such as Sri Lanka, tourism dollars is essential for a range of important reasons namely, generating employment, economic growth and sustainability. Whilst it is heartening to note the initiatives taken to improve tourism in Sri Lanka, there are concerns relating to marketing strategy. For example, have we clearly understood the segments that need to be targeted? Is it the budget tourist, value-for-money tourist or premium tourist? Is it the Western visitor or Eastern visitor or both? These are valid questions that need clear answers.

Positioning of ‘Brand Sri Lanka’ is another issue. Various promotional themes have been bandied about, resulting in confusion. Positioning a brand, should not be confused with a promotional theme. Malaysia is positioned as a country that truly understands Asian culture and values. (Truly Asia). India is positioned as a land of magic and variety. (Incredible India). Thailand is positioned for fun, sun, sand and shopping and hence, “Amazing Thailand.” What about Sri Lanka? This is where the problem lies. What is Sri Lanka’s positioning? Small miracle, land like no other, big miracle, small island, big experience!! Decide on a positioning strategy and stick to it. Don’t change it frequently, which leads to utter confusion.

Human resources
If the hospitality industry is to thrive in Sri Lanka, human resources will need to be harnessed. Presently there is a scarcity of good quality staff, both at operational and strategic levels. There should be concerted efforts to retain talented staff in the country and also to encourage Sri Lankans working overseas to return and serve the industry. Of course, they should be rewarded adequately, to motivate them to return to Sri Lanka.

The hotel schools, universities and professional institutes need to offer more courses in hospitality and tourism marketing, to enhance the skill pool in the country.

Building hotels and increasing capacity is well and good but without competent staff the results would be disastrous.

“In a hospitality or service organization, if you are not serving the customer, you had better be serving someone who is.” (Jan Carlzon)

http://www.dailynews.lk/2012/01/12/bus10.asp

Is failing GCE (Advanced Level) exam an obstacle to higher education?
The results of the GCE Advanced Level Examination were released recently. Now, the expectation of those students is to obtain higher education. Many students and their parents do not have an accurate perception of getting into the higher education stream after the GCE Advanced Level examination. This article is an elucidation of the misapprehensions existing in the Sri Lankan society of passing and the failing of the GCE Advanced Level examination and getting into the higher education stream. ESOFT Computer Studies Managing Director Dr. Dayan Rajapakse is an expert teacher with over 20 years experience in the Information and Communication Technology (ICT) professional education field.

The GCE Advanced Level examination is the most competitive examination in Sri Lanka being the only gateway to state university entrance. Because of this reason, parents spend large sums of money on their children’s Advanced Level education and students also try not only once or twice, but even thrice.


ESOFT Computer Studies Managing Director Dr. Dayan Rajapakse
There are several misconceptions on passing and failing the GCE Advanced Level examination in the Sri Lankan society. One misconception is that passing the GCE Advanced Level examination qualifies you for university entrance. The other misconception is that there are no other opportunities for higher education for the majority is students who fail the GCE Advanced Level examination. It does not mean that the majority of students who do not achieve university entrance through the GCE Advanced Level examination have failed the examination. All students who obtain more than 180 marks in the GCE Level examination have passed the examination. Only a very small percentage such as 5% of students that pass the examination achieve university entrance through the GCE Advanced Level examination. That does not mean that the balance 95% of students have failed the GCE Advanced Level examination.

There is no validity in the social conception that “There are no opportunities of obtaining higher education for the majority of students who do not achieve university entrance”. 25 to 30 years ago this statement carried some validity.

Those days there were difficulties in obtaining higher education for students who did not achieve university entrance. But, it is not so at present. Bright students who have passed the GCE Ordinary Level examination have the opportunity to obtain an external degree qualification from a Sri Lankan university or a degree qualification from a foreign university without even sitting for the GCE Advanced Level examination. For example, students who have passed the GCE Ordinary Level examination with a Credit in Mathematics can study for the Foundation in Information Technology (FIT) Course of the University of Colombo School of Computing and once they have passed it can register for the University of Colombo School of Computing Bachelor of Information Technology (BIT) Degree programme.

Information and Communication Technology (ICT) is a new subject field with the most demand in the modern world. In the field of ICT, university entrance is not essential to obtain a degree certification from a local or foreign university. Students who have passed three subjects in the GCE Advanced Level examination can follow an ICT external degree course from the Colombo University or the Moratuwa University. Other than that, they can also follow the BCS Professional Qualification of the British Computer Society and ICT degree courses of other foreign universities.

The condition of higher education pertaining to business management is equal to this.

Other than that, at present, opportunities of obtaining a degree qualification for the fields of law, medicine, engineering and accountancy are available for those students that do not achieve local state university entrance.

The higher education fields in Sri Lanka have become highly competitive at present. That competitiveness will be greatly intensified in the coming years. That will disprove the theory that achieving university entrance is essential for higher education.

The majority of parents still live in the conventional dream of somehow sending their children to state university and educating them to become Doctors and Engineers and sacrifice their time, money and labour to realize that dream. But, the problem is that only a very small segment of people can realize this dream. The national universities that offer free education only recruit a very small number of students every year due to the insufficiency of infrastructure facilities. It is extremely competitive. Chasing such a dream and not being able to realize it makes the parents despise their children and the children lose their interest in education. Therefore, understanding the conditions of the modern world, today’s parents must undertake to guide their children towards higher education, without subjecting them to unnecessary competition.

Due to the various changes in the social and economic structure and specially the changes in technology from time to time, some subject fields lose their demand and new subject fields come in to demand.

Parents and students must take this into consideration when selecting subject streams for higher education. When planning higher education activities, the most correct way is parents and students deciding on higher education fields to follow right after the GCE Ordinary Level examination. The subjects for the GCE Advanced Level should be selected on this decision. But, due to the lack of perception and guidance, the majority of students start thinking about their higher education after sitting for the GCE Advanced Level examination once or twice. At that time, the subjects one had studied for two-three years for the GCE Advanced Level examination could be of no use for their higher education.

The current Advanced Level subject streams in the education system and the methodology of selecting them are extremely outdated.

They do not suit the modern higher education field and the vocational field. For example, if a student who had followed the Arts stream or the Science stream for GCE Advanced Level decides to study for a degree in the ICT field, he has no use of the subjects he has studied for two years for the GCE Advanced Level. Every aspect of today’s world is very competitive and very complex. In that scenario, sufficient knowledge and understanding and a considerable income are necessary to lead the life of a respectable and decent citizen of the modern society. In order to earn a sufficient income to lead a respectable life, a person must be employed, or be an entrepreneur. These objectives must be carefully considered when selecting a subject stream for GCE Advanced Levels. If not, the result will be a useless degree, without a career or a way to earn a living, and a lifetime of regrets being a burden to one’s family members.

The money spent for a higher education field with ample employment and career opportunities could be considered as an investment for the future.

Under the present world conditions, directing oneself towards higher education in the information and communication technology field can be considered a very prudent investment for one’s future, the reason being that there are numerous employment opportunities and career pathways in that field and that number is increasing every year.

http://www.dailynews.lk/2012/01/12/bus11.asp

Harpo’s Pizza brings festive cheer to orphaned war affected children

Harpo’s Cafes and Restaurants MD Harpo Gooneratne serving Pizzas to the children, along with the team.
Sharing the joy of the season with the less priviledged, Harpo’s Pizza partnered with Foursquare Children’s Services to give VIP entertainment to 91 orphaned, abandoned or war affected children of different races and religions from Jaffna, Vavuniya, Trincomalee and Wattala.

Over 90 children and 24 Care Givers were entertained at Independence Square for a Harpo’s Pizza meal which was part of a programme of visiting entertainment and educational sights for the children in Colombo, Kandy, Nuwara Eliya and Galle in luxury buses.

The children enjoyed the unique 19’ Harpo’s Pizza that offers 16 slices for each pizza.

The events organized by Foursquare Children’s Services included a Christmas Party, lunch and dinner events, interaction with children in and around Colombo. Fun and games, pony and elephant rides. Visiting educational venues such as the Planetarium, Zoo, Museum, Traffic School, shoe factory, tea factory, garment factory, Ambewela Dairy Farm, and other educational institutions.

Also a visit to radio and TV stations and the Parliament complex.

http://www.dailynews.lk/2012/01/12/bus12.asp

MTD Walkers announces projects for 2012
New construction and piling plans get under way:
MTD Walkers, Sri Lanka’s only listed, fully-fledged engineering and infrastructure development company, continues to affirm its role in the nation’s infrastructure development drive through its subsidiary CML MTD Construction Ltd contracting to construct the A32, which is an important conduit between the North and the South. Meanwhile, their other subsidiary, Walkers Piling has won the piling contract for the new five-star international hotel Softlogic Movenpick.

According to MTD Walkers PLC, Chief Financial Officer Viraj de Silva, these projects are two of the largest contracts to be undertaken by any engineering company in 2011. ‘We have successfully won these contracts and both these projects are slated for completion within the next two years,’ de Silva said.

As one of the best rated general contractors in the country specializing in road construction, railway and road bridges, the company will undertake the construction of 36 kilometers of A32 roadway which is expected to be completed by 2013. After completion, the A32 road will connect the North with the South and will be the shortest route from Colombo to Jaffna. De Silva added that the cost of the road construction is Rs. 1.7 billion. CML-MTD Construction has also received a letter of acceptance for the reconstruction of the Giriulla-Narammala Highway at a value of Rs 1.4 billion.

The company has received the highest CI grading in three construction sectors, namely highways, bridges and land reclamation. The company also has received ISO-9001:2008 Quality Standard certification from BVQI for its management systems in connection with earth moving and land grading, roads, road bridges, railway bridges, industrial parks, irrigation systems, storm water drainage, port construction and building of revetments, sheet piling, concrete pile driving, pre-cast concrete products, industrial mining, quarrying and crushing. In continuation of its policy of being extremely sensitive to environmental impacts caused by construction activities and considering the steps taken to minimize such impacts the company recently obtained ISO 14001-2004 certification for Environmental Management Systems from SGS.

The company has already successfully completed the construction of substantial components of the new Southern Expressway and is in the process of contributing specialist construction capacity for constructing the Colombo-Katunayaka Expressway.

Meanwhile, Walkers’ Piling (Pvt) Ltd, a fully owned subsidiary of MTD Walkers and one of the largest piling contractors in Sri Lanka has secured the contract to carry out piling work on the world renowned Movenpick Hotel, commissioned by Softlogic. Walkers Piling will commence work this month using the specialized ‘secant’ piling technique which is frequently used overseas for deep excavation. The Softlogic Movenpick Hotel is one of several international hotels slated to commence operations in Sri Lanka following the post-war nation development drive.

MTD Walkers Piling, Chief Operating Officer, Lal Perera said, ‘Winning this contract is an endorsement of our strength and confidence as one of the most reliable companies to handle such large projects. We have previously carried out numerous large projects successfully and are now in the forefront of this industry.’

For the past 30 years, Walkers Piling (Pvt) Ltd., the pioneer pile foundation company in Sri Lanka, has been specializing in pile foundations.

The company was incorporated in 1981 along with Voltas International Limited of India as a joint venture with approvals from the Foreign Investment Advisory Committee of Sri Lanka. In 2008, the company was acquired by MTD Walkers PLC, the only fully-fledged multi disciplinary engineering company in Sri Lanka.

http://www.dailynews.lk/2012/01/12/bus13.asp

The Finance relocates Maharagama branch
The Finance Maharagama Branch which was operating in the town for 7 years, commenced providing services to the area from a new location on Highlevel Road recently and was opened by the Chairman Preethi Jayawardena. Director and CEO Kamal Yatawara and Directors Tissa Ekanayake, Anura Fernando and Dinal Wijeymanne also participated.

It was an encouraging start to the 2012 new year where the company recorded a new deposit intake of over Rs 100 million on January 1. Having People’s Bank, Bank of Ceylon and Seylan Bank as its key shareholders, the company has been achieving sustainable growth in the areas of pawning and investments and has recorded over Rs. 850 million in new deposits brought in monthly.

The Finance Company PLC, has a network of 60 branches spread islandwide.

http://www.dailynews.lk/2012/01/12/bus14.asp

SL to hold two bilateral trade sessions with India
Sri Lanka will hold two fresh bilateral trade sessions today in Hyderabad - one with India and the other with the United Arab Emirates. The talks will be held at Andra Pradesh’ Hyderabad International Convention Centre, in Hyderabad. Minister Bathiudeen is currently in Hyderabad as a member of the Sri Lankan delegation for the “New Age Innovation Partnership” themed Partnership Summit 2012, held in Hyderabad, Andra Pradesh, India which ends on January 13.

Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka will lead the Sri Lanka team on both meetings. In these negotiations, Minister Bathiudeen will hold discussions with Anand Sharma, Indian Minister of Commerce & Industry (for India), followed by H.H. Sheikha Lubna bint Khalid Al Qasimi, UAE Minister of Foreign Trade (for UAE), in separate afternoon sessions today.

“The latest rounds of talks are aimed at trade promotion between Sri Lanka and these two countries,” said P.D. Fernando, Director General of Commerce of the Department of Commerce of Sri Lanka. Minister Bathiudeen is also expected to extend the official Sri Lankan invitation for ‘Sri Lanka Expo 2012’ to India, during the meeting with his Indian counterpart.

According to Confederation of Indian Industry (CII), the organisers of the Partnership Summit 2012, its sessions will focus on tourism and investment opportunities in the state of Andra Pradesh, along with high-level business networking among the participating countries. About 1,500 delegates from 30 countries will take part in this three-day partnership summit at the Hyderabad International Convention Centre. Among the participating countries are Bangladesh, China, the Czech Republic, Ghana, Israel, Italy, Malaysia, Pakistan, Russia, Singapore, Sri Lanka, the United Arab Emirates, the United Kingdom, USA, Zambia, Zimbabwe, New Zealand, Turkey, Ukraine, Saudi Arabia, Abu Dhabi, Kuwait, Myanmar, Afghanistan and Mali. Minister Bathiudeen will also be addressing the Thursday 12 inaugural session of the Partnership Summit at 10.30 am, Hyderabad local time.

The total India-Sri Lanka trade crossed the $ 4 billion mark last year, from $ 656 million in 2000, thus recording a six-fold increase. India, which is ranked as the 16th largest buyer of Sri Lanka in 2000, emerged as the third largest buyer of Sri Lankan products in 2003 and continues to do so. The trade balance is in favour of India.

Sri Lanka and UAE held a round of bilateral discussions on November 23, 2011 in Colombo amidst renewed trade ties between both countries. The November 23 talks were led by Minister Bathiudeen for Sri Lanka, Her Highness Sheikha Lubna bint Khalid bin Sultan Al Qasimi, Minister of Foreign Trade for United Arab Emirates. During the bilateral talks, Sri Lanka also officially extended its invitation to UAE for the forthcoming Expo 2012 mega promotion show to be held in Colombo. UAE is the largest investor in Sri Lanka from the Gulf economies, having invested nearly $ 100 million and also UAE has been ranked as the third largest investor in Sri Lanka in 2010. Among the leading UAE investment groups in Sri Lanka are Al Futaim and Al Ghurair groups.

http://www.dailynews.lk/2012/01/12/bus15.asp

SL maintains 8.4% growth in third quarter 2011
Sri Lanka maintained a healthy 8.4 percent in the third quarter of 2011, with all three sectors, Agriculture, Industry and Services, contributing towards that growth performance.

GDP growth in 2011 is estimated to be around 8.3 percent. Significant structural changes that have taken place in the Sri Lankan economy over the last several years are expected to provide the momentum for the economy to grow by about 8 percent in 2012, even in the midst of the slowdown in global economic activity.

Continued development efforts aimed at improving economic and social infrastructure are expected to augment the productive capacity of the country and thereby enable the realisation of the country’s growth potential. Improvements in infrastructure would also help eliminate supply bottlenecks, thus helping to reduce price pressures.

As inflation is expected to remain around mid-single digit levels in 2012, broad money (M2b) is expected to grow by around 15 percent in 2012, as announced in the ‘Road Map for Monetary and Financial Sector Policies for 2012 and beyond.’

The ongoing structural changes in the economy are also likely to be reflected in the external sector, with earnings from tourism projected to increase to US dollars 1.2 billion, migrant worker remittances expected to increase to US dollars 6.5 billion, foreign direct investment (FDI) projected to record US dollars 2.0 billion, and inflows of debt capital to the private sector also expected to increase significantly in 2012.

On the fiscal front, preliminary estimates indicate that the government has contained the fiscal deficit to a level within the revised target of 7 percent of the GDP in 2011. It is expected that the government would bring down the fiscal deficit to 6.2 percent of the GDP in 2012, thereby augmenting the resource availability to the private sector further.

With regard to monetary developments, credit obtained by the private sector remained robust through 2011, and by November, recorded a year-on-year growth of 33.5 percent.

Largely reflecting the robust expansion of credit, broad money growth also remained at a level higher than that projected for 2011.

Year-on-year growth of broad money (M2b) was 20.6 percent by November. However, market interest rates moved upwards in recent months, in line with changing liquidity conditions in the domestic money market.

As a result, the benchmark yield on one year Treasury bills recorded an increase of around 175 basis points in 2011, while the average weighted deposit rate (AWDR) recorded an increase of about 100 basis points. Meanwhile, the average weighted prime lending rate (AWPR) increased by around 120 basis points in 2011, although at the last auction, the weighted average yields on Treasury bills in the primary market remained unchanged, indicating some stabilisation in market conditions.

These moderate upward movements in interest rates are likely to exert a restraining effect on monetary aggregates, which would, in turn, help to curb the build up of demand pressures.

Taking into consideration the above developments, the Monetary Board is of the view that the present policy framework does not require any adjustment and accordingly, at its meeting held on January 10, 2012, decided to maintain the Bank’s policy interest rates unchanged at their current levels, the Repurchase rate at 7 percent and the Reverse Repurchase rate at 8.50 percent.

The release of the next regular statement on monetary policy will be on February 9, 2012.

SL maintains 8.4% growth in third quarter 2011
Sri Lanka maintained a healthy 8.4 percent in the third quarter of 2011, with all three sectors, Agriculture, Industry and Services, contributing towards that growth performance.

GDP growth in 2011 is estimated to be around 8.3 percent. Significant structural changes that have taken place in the Sri Lankan economy over the last several years are expected to provide the momentum for the economy to grow by about 8 percent in 2012, even in the midst of the slowdown in global economic activity.

Continued development efforts aimed at improving economic and social infrastructure are expected to augment the productive capacity of the country and thereby enable the realisation of the country’s growth potential. Improvements in infrastructure would also help eliminate supply bottlenecks, thus helping to reduce price pressures.

As inflation is expected to remain around mid-single digit levels in 2012, broad money (M2b) is expected to grow by around 15 percent in 2012, as announced in the ‘Road Map for Monetary and Financial Sector Policies for 2012 and beyond.’

The ongoing structural changes in the economy are also likely to be reflected in the external sector, with earnings from tourism projected to increase to US dollars 1.2 billion, migrant worker remittances expected to increase to US dollars 6.5 billion, foreign direct investment (FDI) projected to record US dollars 2.0 billion, and inflows of debt capital to the private sector also expected to increase significantly in 2012.

On the fiscal front, preliminary estimates indicate that the government has contained the fiscal deficit to a level within the revised target of 7 percent of the GDP in 2011. It is expected that the government would bring down the fiscal deficit to 6.2 percent of the GDP in 2012, thereby augmenting the resource availability to the private sector further.

With regard to monetary developments, credit obtained by the private sector remained robust through 2011, and by November, recorded a year-on-year growth of 33.5 percent.

Largely reflecting the robust expansion of credit, broad money growth also remained at a level higher than that projected for 2011.

Year-on-year growth of broad money (M2b) was 20.6 percent by November. However, market interest rates moved upwards in recent months, in line with changing liquidity conditions in the domestic money market.

As a result, the benchmark yield on one year Treasury bills recorded an increase of around 175 basis points in 2011, while the average weighted deposit rate (AWDR) recorded an increase of about 100 basis points. Meanwhile, the average weighted prime lending rate (AWPR) increased by around 120 basis points in 2011, although at the last auction, the weighted average yields on Treasury bills in the primary market remained unchanged, indicating some stabilisation in market conditions.

These moderate upward movements in interest rates are likely to exert a restraining effect on monetary aggregates, which would, in turn, help to curb the build up of demand pressures.

Taking into consideration the above developments, the Monetary Board is of the view that the present policy framework does not require any adjustment and accordingly, at its meeting held on January 10, 2012, decided to maintain the Bank’s policy interest rates unchanged at their current levels, the Repurchase rate at 7 percent and the Reverse Repurchase rate at 8.50 percent.

The release of the next regular statement on monetary policy will be on February 9, 2012.

http://www.dailynews.lk/2012/01/12/bus20.asp

Hundreds of jobs lost- seaFrance into liquidation
Hundreds of jobs will be lost as SeaFrance lost its battle for survival yesterday after being liquidated by a French court.

Almost 1000 jobs will be lost in total, including that of 127 French workers, who had expressed interest to take over the company. The workers lost their jobs in Dover after the ruling said, there was no credible future for SeaFrance.

Officials at the Tribunal de Commerce in Paris acted after the European Commission confirmed government assistance to the stricken operator was illegal.

SeaFrance, who said it was 'sad' about the news, had operated three ferries on the Dover to Calais route.

www.breakingtravelnews.com

http://www.dailynews.lk/2012/01/12/bus21.asp

New Chairman at Bartleet Finance
Dharma Dheerasinghe, former Deputy Governor of Central Bank Sri Lanka has been appointed as the new Chairman of Bartleet Finance PLC with effect from January 3. Eraj Wijesinghe, the current Chairman is leaving from the post of Chairman after a long spell with Bartleet Finance in keeping with corporate governance requirements of the new Finance Business Act of 2011 and would continue as the Managing Director and Chief Executive Officer.

Dheerasinghe has joined Bartleet Finance as an Independent, Non Executive Director and had been appointed the Chairman.

Dheerasinghe, a career banker spent well over 35 years at the Central Bank of Sri Lanka and held various senior positions before retiring as the Senior Deputy Governor. He also served as an Alternate Executive Director in the IMF from September, 2007 to January, 2010. He obtained his Masters in Economics from the University of Leeds UK and is an Honorary Fellow of the Institute of Bankers, Sri Lanka.

Director and spokesperson for Bartleet Finance S Raghavan, is of the view that the wealth of knowledge and the hands-on experience he possesses would help to reinforce the trust and confidence of the depositors as well as in infusing new insights into the financial portfolio that Bartleet Finance operates, thereby further enhancing the productivity and service orientation of the company. Bartleet Finance under the new leadership of Dheerasinghe will now look to enhancing shareholder value and all stake holders to benefit by the future growth of the company.

“It is indeed a great opportunity and challenge to be able to take on the reins of one of the leading mercantile establishments specializing in finance, and I look forward with great interest to infuse the wealth of my knowledge to further enhance the financial portfolio of Bartleet Finance. I also look forward to working closely with the management team in a spirit of understanding and goodwill,” said the new Chairman Dheerasinghe.

Bartleet Finance, a member of the Bartleet Group was incorporated in 1983.

http://www.dailynews.lk/2012/01/12/bus22.asp

The Environmental Resources Investment plc (ERI) of Sri Lanka has been awarded with the prestigious international ‘Diamond Eye Award for Quality and Excellence’ by the Otherways Management Association Club (OMAC), France at an awards ceremony held recently in Geneva, Switerland.

ERI is the first Sri Lankan business entity to be presented with the ‘Diamond Eye’ award and has also been awarded the certificate for T.Q.M (Total Quality Management) at this ceremony. This international award for quality and excellence was initiated in Europe to recognize and reward companies from all parts of the world, which have proved themselves in the field of quality and excellence.

Otherways Management Association Club was founded as a part of Otherways International Research and Consultants business stimulation and promotion program. Otherways Management and Consulting Association is a member of the American Management Association and American Marketing Association


http://www.news.lk/news/business/1169-envirsri-lankan-company-receives-prestigious-international-award