CORPORATE

Access Engineering posts Rs 825 m PAT

Access Engineering recorded a turnover Rs. 3,032 million with profit after taxation at Rs. 825 million.

The joint venture partnerships with international contractors continued its upward growth curve, continuing to contribute substantially towards our bottom line.

Christopher Joshua

It is pertinent to note here that the accounting functions of most of our joint venture projects are maintained separately with profits from these operations carried over into our financial statements, said Joint Managing Director/CEO Christopher Joshua.

Our investments focused on further strengthening our profile as a specialised and competitive player in the construction industry.

We also increased our shareholding in Access Realities up to 64 percent during the year.

Our construction projects and activities continued according to the planned timeliness with some completed and handed over as per the construction calendar. One of the most significant features of our infrastructure projects is the minimum disturbance we practice during the construction period.

Our non-invasive practices in ensuring that the least amount of inconveniences and interuptions created during our work have enabled us to strengthen our relationship with the communities we have to operate. The ADB funded Unnichchai Tank Augmentation Project which rehabilitated and reconstructed the Unnichchai Tank to provide drinking water for the people of Batticaloa and suburbs was completed.

This project was carried out in partnership with China Geo-Engineering Corporation of China.

Among the road projects completed were the Mannar-Thalaimannar Road and the Kadawatha Town Development Project which provided commuters with wider access and better movement.

The Dehiwela Flyover, a project undertaken with our consortium partner M/s Mabey & Johnson from the UK too was completed and handed over within a very short time frame.

The installation of approximately 200 kilometres of fibre optic cable in the extensive Fibre Optic Cable Network for Sri Lanka’s premier mobile service provider within the Colombo Metropolitan areas and the Southern Province of sri Lanka is continuing as planned.

Our Piling Unit and Dredging Unit are well utilised in their specialised operations and were engaged in numerous projects during the year, with the latter’s larger purview begin the underwater pipe installation across the Batticaloa Lagoon.

This has led us to identify the needs of these communities on the platform of health and education which we feel is vital for the sustainability of a nation.

We continue our work in the improvement of the Cancer Hospital in Maharagama and made much required equipment donations to the Dental Hospital in Maharagama too.

Assistance for construction of a playground for a school in Katugastota, assistance for construction of an Assembly Hall for a school in Middeniya and the presentation of books and stationery to students in Ahangama, Rathgama.

Thummodara and the Deaf and Blind School in Ratmalana comprised our educational CSR projects for the year.

With environmental preservation and conservation also being a vital conduit to the sustainability of our business, the tree planting campaign which began a few years ago, continued according to the planned framework.

Our commitment to the environment gathered further momentum with ISO 14001 certification being awarded to us, making us the first civil engineering company in Sri Lanka to obtain this accolade.

The journey ahead

The construction industry will see acceleration due to the conclusion of the war and this in turn, will permeate advantages and opportunities to the entire industry portfolio.

We have already foreseen the opportunities and strategically embarked on initiatives that will enable us to positively engage and be proactive in these development initiatives.

Virtusa on Deloitte’s 2010 Technology Fast 500 :

List of Fastest Growing Companies

Virtusa Corporation, a global IT services company that offers a broad spectrum of business consulting and outsourcing services, has been named to the Technology Fast 500, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This marks Virtusa’s inclusion on the list for the third time in four years.

Chairman and CEO of Virtusa Kris Canekeratne

Rankings are based on percentage of fiscal year revenue growth during the period from 2005 - 2009.

‘Virtusa’s inclusion on Deloitte’s 2010 Technology Fast 500 represents the company’s continued ability to deliver efficiency, agility and technological expertise to help customers achieve measurable business results, said Kris Canekeratne, Chairman and CEO at Virtusa.

In an environment where businesses are facing increased challenges and pressures, Virtusa has remained committed to providing customers with cost-effective IT solutions, which in turn has driven our own growth as a company.

Virtusa and the other 2010 Technology Fast 500 winners forged ahead in a challenging economic environment to realize exceptional growth, saidVice Chairman and Deloitte’s U.S. technology, media and telecommunications leader Phil Asmundson.

“Deloitte commends Virtusa for this impressive accomplishment.

Virtusa has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honour them as one of the 2010 Technology Fast 500, said managing partner, venture capital services, Deloitte & Touche LLP, mark Jensen.

Earlier this month Virtusa was recognised on the FinTech 100 List as a top technology vendor serving the financial services industry.

In September, Virtusa earned a spot on Everything Channel’s Fast Growth 100 List of fastest growing integrators in the IT industry.

The company was also recently recognised on the Global Services 100 List for the third consecutive year.

CCC receives SAFA Award

The South Asian Federation of Accountants (SAFA) held the Best Presented Accounts and Corporate Governance Disclosures Awards 2009 in Kathmandu, Nepal on December 12 at Hotel Soaltee Plaza. The Ceylon Chamber of Commerce received a Certificate of Merit in the Non-Governmental Organisations category. Here Prof. Lakshman R. Watawala, Committee Member of the Ceylon Chamber of Commerce receiving the award from the chief guest Surendra Pandey Finance Minister of Nepal.