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| Sunday, 5 December 2004 |
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Business |  |
| News Business Features Editorial
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The sweet possibilities of Vanilla by Hiran H.Senewiratne M.D.Gunasena Finance and Investment Limited (MDGFIL), the latest entrant to the financial market, will mainly focus on agro-based export oriented projects. At present, the company is in the process of exploring opportunities to enter the Vanilla export market, since vanilla has a big demand in many countries, MDGFIL Managing Director Premraj Silva said. He said that the company has started to cultivate five acres of Vanilla at Badalkumbura in Passara as a pilot project. Given the situation the company is now planning to work closely with vanilla out-growers associations to encourage further cultivation in the sector, which has been neglected for sometime. The company has also set its own target to cultivate 100 acres of Vanilla within the next three years, to increase exports in a big way, since Sri Lanka's contribution to the world market is less than two per cent, Silva said. The company will popularise the cultivation in Matale, Kandy and Kegalle districts , which are ideal for vanilla cultivation.The company is also considering hoping to move into other export- oriented agricultural crops in the future. Assistant General Manager Michael Danforth said that MDGFIL are also in the Real Estate and Property Development business. He said that at present it has got ongoing housing and property development projects in Katubedda and Nugegoda. The company has also earmarked a few places to build housing apartments and condominiums in the future.MDGFIL has 18 branches covering main cities in the country to create an awareness of their products. MDGFIL is a subsidiary of 91 year old M.D.Gunasena and Company Limited, and are now in the process of diversifying its business to other fields. |
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