Sri Lanka Investment Road Show in Middle East to Woo Significant Interest

03rd January 2011, www.ft.lk

A key investment promotion exercise involving multi-stakeholders and facilitated by Heraymila Investments Ltd. is being planned for February to woo significant interest from the Middle East.

A high powered delegation led by International Economic Cooperation Senior Minister Dr. Sarath Amunugama and comprising select public and private sector representatives is scheduled to visit Jeddah, Riyadh and Dubai as part of the Middle East road show.

Heraymila Investments Ltd. subsidiary Heraymila Securities CEO Ravi Abeysuriya told the Daily FT that the objective of the road show was to showcase the immense post-war potential for direct and portfolio investments for Middle Eastern investors.

With regard to select Government projects the idea of Public Private Partnership (PPP) will be pursued.

Some of the institutions that will participate are the Central Bank, Securities and Exchange Commission, Colombo Stock Exchange, Urban Development Authority, and Sri Lanka Tourism from the public sector whilst a few blue chips will form the private sector team.

The road show titled “Investment Destination Sri Lanka” will involve two day sessions in each of the three cities. “Depending on the success of the maiden initiative we will consider facilitating similar events in rest of the Middle East,” Abeysuriya added.

Colombo stock market’s attractive position as the world’s second best and Asia’s best performing for two consecutive years as well as post-war rebound are some of the key attractions for prospective Middle East investors.

Heraymila Investments, headquartered in UAE and registered with Dubai Financial Centre, manages over US$ 260 million out of the family wealth of Saudi Arabia’s Abdulaziz Al Mashal, which has interests in aircraft leasing for European commercial airlines, investments in real estate apart from public and private equity in over 30 countries.

Abeysuriya said that given its own background and success in investing in Sri Lanka, the one-on-one meetings arranged by Al Mashal family will be a significant opportunity for the Lankan delegation. Separate meetings and presentations with chambers of commerce and industry in identified cities will be an additional feature of the road show.
Al Mashal’s interest in Sri Lanka originated much before the war ended. It first entered Sri Lanka in 2005 via the Colombo stock market by acquiring a 10% stake then in the country’s biggest private sector bank with an investment of US$ 25 million.

At the launch of Heraymila Investments and Heraymila Securities in Sri Lanka its Managing Director Vinod Krishnan in November said “We came to Sri Lanka at the height of the war and have gradually expanded our presence which shows we are a committed long term investor.”

Krishnan who has been associated with Al Mashal family for 18 years noted that in tandem with the dynamics of a country, GDP, opportunities and stock market, the Al Mashal family adjusts their asset allocation. “Like all ultra high net worth families in the world, Al Mashal focus is on capital preservation via investments and operating businesses and not rapid appreciation.

At Heraymila we continuously seek emerging and frontier markets and Sri Lanka is one with tremendous upside potential thanks to the end of the war,” Krishnan added.
With its footprint firmly established in Sri Lanka, Heraymila in November promised it will aggressively promote Sri Lanka as an investment and business destination among its worldwide clients. The forthcoming road show is part of delivering on that promise, Abeysuriya emphasised.

Sri Lanka was the first country where Heraymila has set up shop outside Dubai to launch financial services products and services. “The post war potential and outstanding talent pool were among the key magnets for this decision,” Krishnan pointed out in November.

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US Road Show in Sri Lanka on Doing Business. Private Public Partnership (PPP) Conference to be Held Today

13th October 2010, www.dailynews.lk, By Sanjeevi Jayasuriya

Sri Lanka will showcase investment and trade opportunities the country could offer for US companies with a series of discussions and visits for potential areas.

“We have 25 foreign company representatives who are currently in Sri Lanka exploring opportunities. There are 17 US companies and 10 Indian based US companies among the visiting delegation,” a Commerce Department official told Daily News Business.

The delegation is led by the Assistant US Trade Representative for Central and South Asia Michael Delaney together with US Government officials.

The peaceful and conducive environment in the country has helped emerging investment and trade opportunities. The delegation visited Jaffna yesterday to gain first hand information on opportunities available. The inauguration of the Private Public Partnership (PPP) conference will be held today with the participation of private sector business executives, representing US companies based in the US as well as India.

There will also be talks under the US-Sri Lanka Trade and Investment Framework Agreement (TIFA) to create awareness to capture opportunities.

The US delegate visit was organized by the Sri Lanka Embassy in Washington with the Commerce Department and the US Embassy in Sri Lanka.

Meanwhile the US Embassy in Sri Lanka, in a press release said the Embassy, together with the US Commercial Service and the US Small Business Administration, is organizing a road show seminar called Doing Business which will visit several locations in Sri Lanka. The first seminar, featuring the Assistant US Trade Representative Michael Delaney, will take place in Colombo on October 15. Subsequent seminars will be held in Galle (October 18), Kandy (October 20) and Trincomalee (October 21).

The improved business climate in Sri Lanka following the end of the ethnic conflict and the opening up of the North and East for trade and investment makes this an opportune time for the business community to learn more about increasing trade between the United States and Sri Lanka. According to the Commercial Director at the US Embassy in Colombo, Ken Kero-Mentz, this is the first Embassy Doing Business seminar that will visit some of the key provinces outside of Colombo.

It will give out valuable information to help expand rural economies and assist small and medium-sized enterprises (SME).

The “Doing Business” seminar will include in-depth presentations by officials from the US Embassy, the US Foreign Commercial Service, and the US Small Business Administration. Sri Lanka’s Export Development Board will introduce the sessions. Each seminar will conclude with a discussion led by a Board member from the American Chamber of Commerce and leaders of the local business chambers.

US technology and knowledge can help Sri Lanka’s companies compete effectively in the today’s challenging international markets.

Speakers at this “Doing Business” seminar will talk about partnering and doing business with US companies and increasing competitiveness in the global economy.

They will also discuss Sri Lanka’s export sector, buying American products as a way to grow Sri Lanka’s economy and the growing importance of SME’s in the global financial system.

The “Doing Business” seminar is expected to attract importers, business people, members of trade associations, manufacturers, and entrepreneurs interested in learning more about how doing business with the United States can help their bottom line.