SHARE YOUR THOUGHTS FOR 2017

It brings a merit or value stating your own views of economy, capital market & social life in Sri Lanka in 2007. It is appreciable the comments are full free of party colors. Happy New year for everyone.

Happy new year guys )

2017 will be good for stock investors.With foreign cash inflows,projects are going to start port city,megapolis,road projetcs,etc,etc..It will be good for construction related companies.Plantation also going to pick up.No need to tell about chicken......

It will be good year for thosewho beleived in CSE.

Be happy..

We need consistence policies by the rulers.

If administrators deviate from traditional thinking towards social benefits with common sense life will be more beneficial to common people.

worthiness wrote:If administrators deviate from traditional thinking towards social benefits with common sense life will be more beneficial to common people.

If the rulers are genuine and love the country more than the  post they hold, and if the common people are ready to bear the pain for a short time, I hope this country can be change to a better place to live.

I also think 2017 will be good

BUT The finance minister and the crowd has already put a BRICK

by creating unnecessary problem with Lottery Dealers

"AHAKA INNA SARPAYO KARE DA GENA KANAWO KIYMIN KE GAHANAWA"

First day trading in year 2017 is over with low market enthusiasm. General view is that the state of market affairs will improve gradually.

[size=33]Sri Lanka’s largest fully integrated tire plant to be built with Rs11.25bn[/size]
Author LBO
Posted on January 2, 2017 | Commodity, Companies, Featured



(Press Release) – Rigid Tyre Corporation (Pvt.) Ltd. Equipped with the latest technology, this new plant is destined to roll in a new page in the industrial sector of Sri Lanka. It comes with the healthy integration of political acumen, local entrepreneurship and proven European technology in the form of a world reputation –Marangoni of Italy. Marangoni is famed not only for its superlative breeds of tyres but the process of manufacture as well; high performing, fuel efficient and most importantly, it treads lightly on the environment! Its carbon footprint is small and clean!
On the direction of President, Maitripala Sirisena, Prime Minister Ranil Wikremesinghe will lay the foundation stone of this mega plant at a stately event held at the BOI Industrial Zone, Wagawatta, Horana on the 5th of January, 2017.
The well attended function will have over 1500 invitees. Amongst the invitees are Malik Samarawikrama, and many other cabinet Ministers, who will be joined by BOI Chairman, Upul Jayasooriya, ministerial secretaries and Government officials. The clergy of all faiths and representative of the community will also be present.
This new venture, with a 11.25 Billion Rupee investment, is tipped to be the biggest fully integrated tyre manufacturing plant in the country. It is an initiative with far reaching benefits for the country and certainly can roll out many a profiting mile: be it the economy or forex; employment of skilled labour or professional development; value adding our natural resource, rubber or stretching out to investors the world over and beckoning them to Sri Lanka as an investor friendly nation.
The venture would create over 3000 job opportunities, both direct and indirect. It would be a fitting venue for blue-chip professionals, who would stand to gain the exposure to ultramodern technology and technical know-how right here in this very place of their birth: which expertise they would otherwise gain only through employment at a similar manufacturing facility overseas. The exposure gained at this technically advanced state-of-the-art facility would certainly groom them to be the sort after professionals the world over! High pay! Higher recognition!!
Such high caliber employment generation is what the country needs right now ‘for accelerating growth with social inclusion…’ Such a progressive step would mean one thing: to bring an end to the practice of placing our talented sons and daughters into already crowded government work places which would drain the government coffers even more. On the contrary, what the tyre plant does for the country is to create the opportunity for jobs that will in turn create wealth, not drain it, so that the country as a whole can have a future –to prosper!
That is why Rigid Tyre Corporation at Horana, has the full blessings of the government. For it is all about creating that future for all of us to prosper.
First among the beneficiaries are the very communities that live in the proximity of this up and coming facility: for such a complex of such magnitude in itself will be the catalyst to spawn a host of livelihood development; amongst them housing and infrastructure development will boom so will the real estate prices of the locality.
Rigid Tyres main business intention is to capitalize on the European market. The impetus to do so and the head start come from Marangony, the technical collaborators of this venture, who are a renowned brand the world over with an impressive stake in Europe. So all RIGID Tyre products take on the tag, “Licensed by Marangoni”.
The tyre plant, being the first of its kind in Sri Lanka, is commissioned to manufacture the whole gamut of tyres that roll on the roads, and off it. Passenger Car Radials for performance, driving comfort, safety and long life; Truck and Bus Radials that demand more road run than anything else. Even the three wheel and two wheel segment of the tyre market is in for a significant gain, because the plant’s new technology can certainly deliver the quality attributes at the price this segment are willing to offer. Off-the –road tyres ( OTR Tyres) is another segment of the tyre industry that the plant is well geared to deliver with superlative attributes unrivalled in the industry.
Besides the manufacture of tyres, the plant has earmarked several other separate divisions for enhancing the value adding of the rubber industry even more. One product is the manufacture of High Density Conveyor Belts, aiming at the mining industry of the world. In a similar manner High Pressure Hydraulic Pipes are also will be manufactured which are in high demand at oil fields right now.
The investor of this venture is none other than Nandana Lokuwithana, Chairman of Ceylon Steel Corporation and its member company MA Steel Lanka (Pvt.) Ltd. He is also a businessman of world standing known for his acumen and entrepreneurship as the chairmen of Onyx Group in the UAE with a host of diverse companies, one of which is a steel fabrication company. He is also the owner of Marriot Al Jadaf Hotel, Dubai.
It was this business stature of Nandana Lokuwithana, who is steadfast on serving his motherland with the prowess he manifests, that paved the way for a world brand such as Marangoni to sharing their knowledge , knowhow and global reputation in making a reality of his brain child –RIGID Tyres.
With the laying of the foundation, the 100 acre land will transform itself into not just being Sri Lanka’s Largest fully integrated tyre plant, but it will be a mega city for the tyre industry of the world, equipped with a four storied ultra-modern research lab to advance research and development, and a plant complex that operates world’s cutting edge technology known for high performance, fuel efficiency and above all, for its environmental safety.
This embodiment of ‘a green industry’, complete with iconic architecture and residential quarters, will soon attract some of the best talent that Sri Lanka has on offer for the good of the entire country.

[size=48]MAS to boost Lankan exports with $ 28 m investment in Fabric Park in Giriulla
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Comments /  1739 Views / Wednesday, 4 January 2017 00:00
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• Govt. hands over former Kabool Lace plant abandoned for 12 years; MAS to replicate successful Thulhiriya Park
  
• Giriulla Park will generate over 3,000 jobs, $ 65-$ 70 m export 
  
• revenue in first three years
  
• Prime Minister assures that GSP+ will be regained and boost apparel exports and jobs
  

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By Charumini de Silva

The Government yesterday handed over the former Kabool Lace Giriulla facility, which was shut down for 12 years, to proven apparel giant MAS Holdings to boost jobs and exports.

MAS Holdings Chairman Mahesh Amalean said they expected to invest over $ 28 million in export-oriented projects in the facility, creating over 3,000 direct jobs within the first three years of operations and export revenue of around $ 65-$ 70 million.

He said that the company had already commenced refurbishment and reinstalling machinery to commence operations by next year.

Being the second-largest supplier to leading sportswear company Nike, MAS Holdings is capitalising on its opportunity to double its capacity as Nike plans to increase its revenue from $ 30 billion to $ 50 billion by 2020.

Amalean pledged that MAS Holdings would continue to be confident over Sri Lanka’s international competitiveness especially in manufacturing. 

“We believe there is a lot of potential to expand in the manufacturing sector in Sri Lanka with specific reference to exports,” he added.

The Giriulla facility will become the second privately-owned industrial park in the country following the MAS Fabric Park in Thulhiriya which houses over 8,200 employees and generates more than $ 150 million.

Given Giriulla facility’s strategic location and close proximity to the Thulhiriya and Pannala factories of MAS, Amalean emphasised that it was the ideal opportunity for their expansion plans.

He added that during the past five years MAS had increased its export revenue from $ 800 million to $ 1.6 billion for Sri Lanka. 

Prime Minister Ranil Wickremesinghe assured that Sri Lanka would receive GSP+ concessions in the near future, which would provide more opportunities for companies of this magnitude to increase employment and improve the livelihood of the general public in the area.

He said that after regaining the GSP+ facility, MAS would be able to provide around 5,000 employment opportunities in the Giriulla facility.

Noting that Bangladesh had grown its economy considerably over the past 10 years through the development of the apparel sector, the premier said Sri Lanka needed more industrial parks to facilitate private sector companies that would generate much needed foreign exchange for the country.

“Bangladesh increased its apparel export earnings from $ 5.2 billion in 2006 to $ 26.6 billion in 2016, recording a fivefold increase. However, as Sri Lanka has failed to maintain GSP+ the country’s apparel sector has lagged behind,” he noted.

The Prime Minister also said that the trade agreements with China, Singapore and India would facilitate more opportunities for export-oriented companies.

The premier emphasised that the Unity Government expected to eradicate unemployment and increase income by 2020 and therefore took steps last year to reduce the debt burden in order to establish a stable economy.

“We need to generate higher income, better education and accelerated growth in Sri Lanka,” Wickremesinghe stressed.

He added that the North Western Province will be developed as an industrial zone with sizable investments in the years to come.

The project facilitated by the Board of Investment (BOI) exemplifies a successful private-public partnership which contributes significantly to the economy of Sri Lanka.

The park will replicate the service offering and environmentally sustainable features of the MAS Fabric Park in Thulhiriya, including uninterrupted power supply, water treatment and supply, a SLAB accredited laboratory for water quality testing and engineering services.

MAS at present employees 86,000 people in 15 countries and of that 70,000 are employed in Sri Lanka in 38 manufacturing locations including 2,200 people in Kilinochchi.[/size][/size]
- See more at: http://www.ft.lk/article/589207/MAS-to-boost-Lankan-exports-with---28-m-investment-in-Fabric-Park-in-Giriulla#sthash.syl1JUHy.dpuf

[size=48]President, PM flags off work on $ 26.5m Volkswagen assembly plant in Wayamba
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Comments /  885 Views / Wednesday, 4 January 2017 00:00
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Work on the much-awaited Volkswagen assembly plant in Labuyaya, Kuliyapitiya kicked off yesterday with an investment of $ 26.5 million to propel the automobile industry to an innovative era.

Held under the patronage of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, the facility Western Automobile Assembly once completed by 2019 would have the capacity to assemble vehicles in the 1000 cc to 2000 cc category, including passenger cars, sport utility vehicles (SUV) and multi utility vehicles (MUVs) or commercial vehicles.

Speaking at the event, Prime Minister Ranil Wickremesinghe highlighted the importance of attracting foreign direct investments (FDIs) to have an accelerated economic growth, while providing employment opportunities for youth over the next few years.

He assured that the Government would facilitate exports, industrial parks and improve the tourism sector, pointing out that the current export earnings are not adequate.

Delivering an election promise made by the Unity Government of providing employment, Wickremesinghe said they would provide 20,000 jobs by next week.

“We have been able to create over 20,000 jobs from MAS Fabric Park, Volkswagen and the Hambantota industrial park within a week,” he added. 

However, the Prime Minister said neither he nor the President is happy with that insisting on the need for an accelerated growth in all sectors of the economy.

Noting that in 2015 when they took over the Government, income to GDP was only 10%, he said now they have a better income to manage the recurrent expenditure assuring that the debt burden would not be passed on to the next generation.

He also said steps will be taken to improve the poultry industry for exports in the future.

BOI Chairman Upul Jayasuriya said the Volkswagen plant would be a major leapfrog for the country in the right direction.

Noting that the land was owned by an individual named Peter who wanted to contribute to the Base Hospital from the income generated from the property, Jayasuriya said a proportion of the revenue generated from the car factory would be remitted to build the Base Hospital in Kuliyapitiya.

The uniqueness of the project would be the inflows of German advanced automobile technology into the country while creating job opportunities for local youth. Initially, these vehicles would be marketed locally for a period of three years and thereafter the vehicles manufactured will be exported to overseas markets.
- See more at: http://www.ft.lk/article/589210/President--PM-flags-off-work-on---26-5m-Volkswagen-assembly-plant-in-Wayamba#sthash.fTgYJ4G0.dpuf

Do you want to know more about 2017...It is difficult to digest for some people.

What they're trying to do with Hambantota port looks promising, but taking complements for what private companies are doing is cheap by this govt.

MAS factory what they have set up is the 2nd one for the last two yrs. During 2000-2014 MAS has constructed 72 factories in Sri Lanka, Malaysia and in Indonesia (64 factories in srilanka alone). Even Mahinda or Chandrika didn't take credit for what MAS did. It's due to Amaleen entrepreneurship that these jobs are created.

@Yahapalanaya u talk about country is about to take off but they're so much confusion in the Financial market.
http://www.ft.lk/article/589477/Business-confidence-slumps-to-41-month-low

this is the common opinion around the state. If ure a person who's working in the financial company like i'm u'll know no one has fate in RAVI as the FM. That's why most of the financial big guys talk with Ranil or CB governor directly other than talking to RAVI cause its pointless. For some reason even after over whelming support to remove RAVI as FM, but PM is still not doing it.

For me i like to see Sole UNP govt in power so we can see what UNP can do(Minus RAVI). President is playing double game to save his party leadership and keep face with UNP. Due to that reason this govt is unable to take off with the economic plans they have.

jayathu wrote:What they're trying to do with Hambantota port looks promising, but taking complements for what private companies are doing is cheap by this govt.

MAS factory what they have set up is the 2nd one for the last two yrs. During 2000-2014 MAS has constructed 72 factories in Sri Lanka, Malaysia and in Indonesia (64 factories in srilanka alone). Even Mahinda or Chandrika didn't take credit for what MAS did. It's due to Amaleen entrepreneurship that these jobs are created.

@Yahapalanaya u talk about country is about to take off but they're so much confusion in the Financial market.
http://www.ft.lk/article/589477/Business-confidence-slumps-to-41-month-low

this is the common opinion around the state. If ure a person who's working in the financial company like i'm u'll know no one has fate in RAVI as the FM. That's why most of the financial big guys talk with Ranil or CB governor directly other than talking to RAVI cause its pointless. For some reason even after over whelming support to remove RAVI as FM, but PM is still not doing it.

For me i like to see Sole UNP govt in power so we can see what UNP can do(Minus RAVI). President is playing double game to save his party leadership and keep face with UNP. Due to that reason this govt is unable to take off with the economic plans they have.

I am also not a fan of Ravi's action related to economy.But hope MS would checkmate current goverment's mistakes/corruptions such as refusa to reappointment of Arjun Mahendran,changes in budget proposals,etc

Past two years acts of govt clearly indicate Finance minister is really inefficient

Some of problems are created by him

1970s we had state owned Tire, Steel, Shipping, Plywood, Textile Corporations running with high employment levels & profits. Dirty politics ate them all.
New efforts taken for industrial development are appreciable either in state, private or joint ownership. When good things are done doubtlessly citizens should salute government.
Tire industry will require to develop subdued rubber industry which would be the basic raw material. Similarly all other industries are related each other directly or indirectly which create more activities in the country. 

Well, government should show the real actions in form of output generating employment, social benefits, revenue etc..which really touching the people.

D.G.Dayaratne wrote:Past two years acts of govt clearly indicate  Finance minister is really inefficient

Some of problems are created by him

Even I think R.K (FM) must go and have to appoint a capable one as FM, then only this market attitude will change.

I feel not only FM.. most ministers & deputies are not capable of performing the assigned tasks. Voters are to be blamed to choose just emptied chatters.
In real term, chattering class is educated people with liberal opinions & attitudes.

Saddest thing is even the PM behaves like a joker in the Parliament. So, what can we expect from the others.

There is a difference between good stage speakers and silent action people.Unfortunately at current election system first category(empty vessels) get top preference votes and dictate government.Post election system is good in this sense.

worthiness wrote:I feel not only FM.. most ministers & deputies are not capable of performing the assigned tasks. Voters are to be blamed to choose just emptied chatters.
In real term, chattering class is educated people with liberal opinions & attitudes.

Absolutely

PrasannaMani wrote:

worthiness wrote:I feel not only FM.. most ministers & deputies are not capable of performing the assigned tasks. Voters are to be blamed to choose just emptied chatters.
In real term, chattering class is educated people with liberal opinions & attitudes.

Absolutely

Yes Kunjamani bring back Alibaba.

samaritan wrote:Saddest thing is even the PM behaves like a joker in the Parliament. So, what can we expect from the others.

Yes.He should be named as the greatest joker in SL politics.

PrasannaMani wrote:

Yahapalanaya wrote:

PrasannaMani wrote:

worthiness wrote:I feel not only FM.. most ministers & deputies are not capable of performing the assigned tasks. Voters are to be blamed to choose just emptied chatters.
In real term, chattering class is educated people with liberal opinions & attitudes.

Absolutely

Yes Kunjamani bring back Alibaba.

Enlarge this image

Study about PPP concept.That is not like family/gang robing national resources.Grow up man!!!