Biz BRIEFS

CBL Group chief wins Hall of Fame Award

A senior business leader M. P. Wickramasinghe was presented the “Hall of Fame” Award by the Federation of Chambers of Commerce and Industry of Sri Lanka at the sixteenth edition of the FCCISL Sri Lankan Entrepreneur of the Year Awards 2011 held recently at the Cinnamon Grand, appraising his outstanding contribution to the national economy by creating the CBL Empire.

The award was given by president of FCCISL Kumar Mallimaratchi. The Hall of Fame Award is an endeavour by the FCCISL to honour individuals of noteworthy achievement in their fields of expertise in entrepreneurship.

Phoenix Ogilvy for T20 World Cup

The International Cricket Council (ICC) selected Phoenix Ogilvy to be the official marketing and communications agency for the ICC World Twenty20 2012. The tournament will be held from September 18 to October 7, 2012 in Sri Lanka.

In a media release, the ICC stated that it had arrived at the decision after a lengthy selection process where a number of agencies had submitted proposals. Five agencies were shortlisted to make their final presentations to the ICC and Sri Lanka Cricket officials in Colombo.

Among the firms that vied for this were JWT, which collaborated with a consortium that included FidelisWorld, a Dubai-based international sports, entertainment, and media company; Hayleys, and Maxus Global Media.

PC House turnover up 25 percent

PC House PLC, the leader in ICT in Sri Lanka, looks back at 2011 and takes stock of the strategic changes and developments that took place within the company, forecasting the strategies in business operations, distribution and retail that will be seen in 2012.

Chairman/CEO PCH S.H.M. Rishan said, “In the first six months of the financial year 2011/2012 PCH has increased its turnover by 25 percent declaring a turnover of Rs. 1.95 billion, spurring a growth in gross profit of 16 percent.

Looking at the numbers it is hard to deny the positive effect of the expanded distribution network on the bottom-line.”

Dankotuwa Porcelain turns 28

Dankotuwa Porcelain PLC offered a 28 percent discount on January 6 and 7. to celebrate its 28th anniversary.

Incorporated on 6 January 1984 as a subsidiary private company of the then Ceylon Ceramics Corporation, with the Treasury and Employees Trust Fund as the other shareholders, was later privatised in December 1990 with the admission of a consortium of Japanese Companies.

In September 2010, a fresh infusion of capital brought in Environmental Resources Investments PLC (ERI) as the controlling shareholder and now operates under the wing of ERI.

Abans introduces eco-friendly electric bicycle

Abans has introduced the electric motorised bicycle using a cheaper and environment friendly power source.

Now you can enjoy the pleasure of cycling without peddling.

The Electric Motorised Bicycle powered by a rechargeable battery and gets you to your destination quicker easier than a normal bicycle.

Etihad increases number of destinations

Etihad Airways, the national carrier of the United Arab Emirates, has purchased a stake in airberlin, a deal which brings the total number of destinations to 269, it serves, either directly or with partner airlines.

Etihad Airways now offers a route network of more than 80 destinations.

As part of its deal with airberlin, Etihad Airways will sign code share agreements with the airberlin group for all European activities including NIKI, the Austrian airline and Belair, the Swiss airline.

ComBank expands ATM network to 500

from left: General Manager Railways – B A P Ariyaratne, Commercial Bank’s Assistant General Manager Properties and Services, Noel Wickramasinghe and Chief Information Officer, Rohan Muttiah, General Manager Operations of Railways, Nalaka Bandara at the commissioning of Commercial Bank’s 500th ATM.

 

The ATM network of the Commercial Bank of Ceylon has connected its 500th terminal, consolidating its status as the largest electronic cash dispensing system owned by a single bank in Sri Lanka.

This landmark was reached with the opening of an ATM at the Maradana Railway Station. Commercial Bank’s ATM network has grown rapidly, adding 100 terminals in the past five months.

Asian Finance received Rs. 200 mn for capital infusion which is expected to increase to Rs. 800 mn. From left: Asian Finance Ltd Executives Sunimal Perera, Director, Sanathana Dalugoda CEO, Dato’ Seri Azim Zabidi Deputy Chairman, Senetor Pao Chiong Ung Director and Nandani Dissanayake, Director.