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| Sunday, 13 October 2002 |
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| News Business Features Editorial
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Personality Plus ; Ratna Sivaratnam :A gem of an entrepreneur
Present Position: Executive Chairman EDB, Chairman Sri Lanka Convention Bureau The key to happiness is dreams and the key to success is achieving dreams while one must have the will to win. This is the philosophy of the Executive Chairman of the Export Development Board, Ratna Sivaratnam, who described himself as a conformist, who deviated here and there to do what he loved most. He moved to the public sector after a successful career as Chairman and Managing Director of Aitken Spence and Company Ltd. and enjoys the challenges that come his way while leading his team from the front. Education Educated at Royal College, Colombo, self-motivated Sivaratnam captained the college rugby team in 1958. He also won colours for badminton and played in the under-14 and under-16 cricket teams. He was also a senior prefect, though in his own words he was quite "mischievous". Sivaratnam was in the cadet battalion of Royal College and was promoted to the rank of Regimental Sergeant Major. Incidentally, after him only two have risen to the rank of Regimental Sergeant Major. He had to command 40 schools in Colombo and in the Army Camp at Diyatalawa. "I never commanded, but won the respect and command of all cadets," he said. Career Just after leaving school, Sivaratnam joined Aitken Spence and Company Ltd. as a Trainee Executive in 1960 for a salary of Rs 250. He was attached to the Insurance Department and was confirmed in this position after six months. "I had no ambition of reaching the top, but seized the opportunities that came my way and worked hard to achieve the dreams of the company." Insurance and plantations were nationalised in the early 1970s and the company had to look at new avenues to diversify. The government was giving more thrust to export-oriented industries. Tourism The company invested Rs 20 million and built its first hotel, Neptune, at Beruwela due to Sivaratnam's far-sighted thinking. It was built by renowned architect Geoffrey Bawa. The property had 80 rooms, but no one to occupy them. Therefore, the company started inbound tourism to bring in tourists. Sivaratnam was promoted General Manager and later Director of the company's hotel management subsidiary, Aitken Spence Hotel Management. "I was able to do all this because the chairman and the board of directors supported me throughout," said a grateful Sivaratnam. He was appointed to the board of the parent company, Aitken Spence and Company Ltd. in 1978. The tourism industry which flourished until 1983 experienced a sharp drop after the 1983 riots and subsequently, the insurgency of 1989. The company, realising the need to diversify, moved to Maldives. Now it owns three resorts in the Maldives in addition to the 13 resort hotels in Sri Lanka. Helm In 1995, he was appointed Chairman and Managing Director of Aitken Spence and Company Ltd. In 1996, the company recorded a profit of Rs 60 million which increased to Rs 350 million in 2000. "Whenever I saw an opportunity I seized it, but I never got anything on a platter. I had to work hard to achieve my dreams," he said. He developed a young team as teamwork helps to achieve goals quickly, like birds in flight. "Team work is my password while leadership, vision and courage are key to achieving objectives." Under Mr Sivaratnam's guidance, the company also diversified into the infrastructure sector. At present it has two projects in Horana and Matara, supplying power to the national grid. "It was my secret dream," he added. Export Development Board On December 31, 2001, he relinquished duties as the Chairman and Managing Director of Aitken Spence and Company and within 21 days, was invited to take over as the Executive Chairman of the Export Development Board (EDB) by Minister of Enterprise Development, Industrial Policy and Investment Promotion and Constitutional Affairs Prof G.L. Peiris. "His offer sent a tremor down my spine, as my career was based on tourism, exports was somewhat foreign to me. However, as marketing is a common factor in both activities, I decided to take up the challenge," said a confident Sivaratnam. His move was from the private sector to the public sector while in most instances, it is the other way around. "I took serious assessment of the quality of the human resources as soon as I assumed duties at the EDB and it is more or less a chalk and cheese story. "I soon realised that there are quality people who are willing to change their attitude and fall in line with the commitment and dedication of the private sector. "Therefore, I have decided to separate the few bad eggs from the basket of good eggs and move the EDB and the export drive of the country forward. Responsibility has been delegated and the younger brigade at the EDB empowered in keeping with my philosophy." Vision for EDB Moving into new markets with new products and services and servicing existing markets with new products are the plans he has lined up for the EDB. He said the Export Processing Companies programme was conceptualised and put together by the EDB to get the participation of the rural masses in the export effort, harness the resources in the provinces and generate employment in rural areas. It has been introduced as a further step in the Export Production Village Companies (EPV) programme operated by the EDB since 1981. Sivaratnam said that fruits and vegetables used to be sold by villagers for nothing. "They can earn more from these products if they are linked with exports. Further, the prices of these items also depend on the changes of the weather. However, with processing, such uncertainties could be limited," he said. By practising this method, the farmer will get a good price while the exporter will be competitive in price and quality. The EDB has already set up four EPCs while plans are afoot to set up another four this year. The EDB is planning to diversify marketing activities in India, capitalising on the Free Trade Agreement signed two years ago. A trade centre will be set up in a prime location in Chennai such as the Spencer Plaza. This would enable exporters to exhibit their products throughout the year and not at an on-off trade show as done in the present. He said: "Friends and family are continuously battering me saying that I am working harder than before, but I enjoy the job; taking new challenges, innovating and introducing new products and markets." Family Sivaratnam was born in the city of gems, Ratnapura, as the youngest in a family of four and his parents named their new-born 'gem' as Ratna. He has lived up to his name, rising above the rest and shining wherever he went. His father was a doctor while his mother was a housewife and "a good mother". He has two brothers and a sister. Sivaratnam is married and has a son who is a consultant cardiologist in Australia. Hobbies He enjoys associating with his friends and also plays tennis. |
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