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Sunday, 15 March 2015

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Belluna to invest US$ 100 m in Lanka

Asia Capital PLC has entered into a partnership with Belluna Co. Ltd of Japan to make several strategic investments in Sri Lanka’s booming leisure and property sectors.

The agreement in this regard was signed by President, Belluna Co., Kiyoshi Yasuno and Group Chief Executive Officer, Asia Capital,Stefan Abeyesinhe recently.

Belluna Co. Ltd will partner with Asia Capital in the development of three properties in Sri Lanka, an iconic resort hotel in Galle, a business hotel in Colombo 3 and a mixed development project in Colombo 2 and will in total invest over US$ 100 million on the three projects.

An Asia Capital official said that the company is working closely with the Urban Development Authority, the Board of Investment and relevant parties to launch construction work on the projects as soon as possible and agreements with these bodies have already been signed.

Abeyesinhe said, “Strategic partnerships such as this are vital for the development of the tourism and leisure sector which we have identified as a sector having a high potential for development.

We warmly welcome high profile investors of the calibre of Belluna to our shores and look forward to a healthy partnership with them in the future.”

Yasuno said, “We strongly believe that this is great country to invest in due to its rapid economic growth, public safety and national character.

It is also a country that is friendly towards Japan. We felt Asia Capital would be our ideal partner in these ventures as the team is made up of talented and experienced people and the company has much prospects for growth.” Set up in 1968, Belluna Co., Ltd. operates in the mail order industry in seven segments: general mail order, specialty mail order, retail store sales, solution, finance and property is headquartered in Ageo, Japan. The driving force of Belluna’s success is its portfolio approach, which achieves a balance between growth and profitability.

The company possesses a comprehensive database and other management resources that have been cultivated through its mail order business and has expanded into related fields to realise steady and continuous growth.

Asia Capital PLC is one of the largest investment banks in Sri Lanka to be listed on the Colombo Stock Exchange. As a group, Asia Capital has identified strong potential in the property, leisure and real estate sectors and is focused on these avenues of growth.

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