US $ 2 Bn Investment Expected from Commonwealth Business Forum 2013 to be held in November in Colombo, Sri Lanka

09th March 2013, www.dailynews.lk, By Vishmi Wijeratn

The Commonwealth Business Forum 2013 to be held here in November will benefit Sri Lanka and provide a networking opportunity. Sri Lanka will receive about US $ 2 billion in investment by hosting this event, said Commonwealth Business Forum Chairman Mohan Kaul.

The Commonwealth Business Forum will be held in Sri Lanka from November 12 to 14 at the Cinnamon Grand Colombo.

Kaul told the gathering that this is the first time that a Commonwealth Business Forum is to be held in Sri Lanka.

Kaul said many Commonwealth countries will participate in the event, while non Commonwealth countries like China will also be invited to participate in the forum, providing a platform for interactive networking.

“The aim of the forum is to bring in investment opportunities to Sri Lanka, but it is not just Sri Lanka participating in the forum. Therefore it will provide Sri Lanka an opportunity to invest in other Commonwealth countries. We will be also seeking for an ‘Africa Sri Lanka partnership through this forum.” he said.

The theme for this years Commonwealth Business Forum will be” the Indian Ocean as the countries surrounded by its waves are continuing in a growing trend in terms of business”. Around 1,000 participants will be present at the forum to broaden their horizons of opportunity, while 200 foreign delegates and 200 Sri Lankan companies will be active participants.

“The forum will focus on areas, such as, ports and shipping, agriculture, housing, tourism, education, IT and development in Sri Lanka. This forum will also provide opportunities for the private sector to expand its horizons, ” Kaul said. “There will be several meetings after the forum in Hambantota, Jaffna and Kilinochchi showcasing investment opportunities in these regions,” he said.

Sri Lanka’s Consumer Electronics & Appliances Imports Showed Robust Growth during 2010 - 2011, but Slowed down in 2012

27th February 2013, www.news360.lk

Sri Lanka’s consumer electronics and domestic appliances imports have seen robust growth during the year 2010 and 2011, but has slowed down in the year 2012, with number of products recording a decline in imports both in value and quantity.

A study conducted by the Ceylon Chamber of Commerce says, the 2010 and 2011 growth was propelled by the overvalued exchange rate coupled with low interest rates and reduction in taxes applied for the importation of those goods.

The study says, the 2012 moderate growth was due to the sharp fall in the rupee, ceiling on credit and increased cost of borrowing.

The value of imports coming under the HS Chapter 84, which covers a large variety of machinery and parts, classified as investment goods in addition to consumer electronics and domestic appliances have recorded a 66% growth in 2011 and 19% in 2012.

“The growth in imports in this category reflects increasing demand for investment goods as well as demand for durable consumer electronics”, added the Chamber in a statement issued.

The Chamber says the expenditure on importation of electronic machinery and equipment coming under HS Chapter 85 has increased by 57% in 2011 and by 18% in 2012.

As a percentage of total imports, Chapter 84 has accounted for 8.2% and Chapter 85 has accounted for 6% in 2012.

The study finds that the decline in consumer electronic items imported in 2012 has been modest compared to the high rate of growth experienced during 2010 and 2011.

However, the Chamber says, the volume imported of most items in 2012 remains well above the annual average volume of imports during 2005-2009.

“For example the number of household type refrigerators imported increased by 267% in 2011 to reach 167,844 units. In 2012 although quantity imported declined by 26%, the volume of imports of 119,923 units is well above the average of less than 50,000 units per year imported during 2005-2009”, added the Chamber in its findings.

While most products analyzed in the report have recorded a decline in imports in 2012, few products have recorded an increase.

These are air conditioning machines, televisions and mobile phones.

During the year 2011, and 2012, items such as fans, rice cookers and mobile phones have exceeded 1 million units imported per year.

The items where imports exceeded 500,000 units per year in 2011 and 2012 are televisions, electric kettles, electric irons and fruit or vegetable juice extractors.

Items that have recorded imports in excess of 100,000 units a year during 2011 and 2012 are fans, household type refrigerators, portable computers, other types of computers, toasters and radio broadcast receivers.

Personal care electronic items such as shavers, hair clippers, hair removing appliances, hair dryers have recorded a modest growth over the years and the number of units imported of each item still remains below 50,000 units a year.

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98 Acre Resort at Ella, off Bandalawela, for Pure Relaxation & Eco Tourism. Located in a Picturesque Plot of Uva Greenland Tea Estate

21st March 2013, www.dailymirror.lk

‘Sun and sand' is not a ‘must' for hot tourist destinations any more in Sri Lanka. Though Hikkaduwa, Arugam Bay, Unwatuna or Negombo is traditionally identified as hot spots of beach tourism, the latest addition is Ella in the midst of the misty hills.

Ella, off Bandarawela has fast developed into the tourism hub of Uva, with Hikka style small buzzing guest houses and number of diverse restaurants have come up in the area. But what stands tall in Ella is ‘98 Acre Resort and Spa', the latest addition to the Uva Tourism.

Ella is a small village nestled in a valley gazing straight through Ella Gap to the plain nearly 1000m below and across to the glimpse of the Great Basses lighthouse off Hambantota.

This modern ‘98 Acre Resort' is located in a picturesque ninety eight acre Uva Greenland Tea Estate creating a small haven that has an almost perfect climate. It is an ideal holiday destination for trekkers in quest for adventure or the weary travellers simply seeking a peaceful hideout or even a family outing. 'The Resort' is a safe haven for the ones seeking a stand on a scenic 98 acre estate and is surrounded by a stunning landscape. The resort site is liberally endowed with beautiful views and is also in full sight of the ‘Little Adam's Peak' (Punchi Siripade), the pride of Ella.

The tea estate which was once owned and managed by a British national during the Colonial era of Ceylon was then more famously known as the ‘Southerland tea' now named the ‘Uva Greenlands' was eventually passed onto the Uva Halpwatte Estate (UHE) makers of medium elevation pure Ceylon Tea.

The resort is built on an exclusive concept that interweaves pure relaxation with eco friendly tourism. The chic yet modest architectural design by Maithree Dissanayake bears witness to a great passion and concern for eco friendly substance used in its construction.

‘We have used mostly locally available materials for construction and interior. The wood, the ‘Illuk'-straw gracing the thatched roofs and the interior of the villas not only maintain the cool temperature but also adds a truly Sri Lankan look and feel to the resort' said Chamara Abeyrathne, the Director General of the UHE Group and whose brain child is ‘98 Acre Resort'.

Staying true to his pledge towards eco tourism basics, he has arranged golf buggies for the guests to wander about within the 98 acres of its compound.

Opened just twelve months ago, the Resort has luxury and comfort guaranteed beautifully crafted six chalets with 12 rooms (six deluxe and six standards). There is ample space left in between the chalets making it ideal for quiet honeymooners or even for families.

Each Chalet opens up to scenic views of the misty mountains and is equipped with all modern amenities. Each of the deluxe rooms has its own private living area and grants mystique views of the Ella Gap and the Small Adam's Peak hill.

The Standard rooms are bright and able ambiance for the guests and are completed with laminated wooden balconies to the total experience. Amidst other facilities is the elegantly designed pool overlook- deck made of cut stones; where the guests could take a peaceful dip while their kids could enjoy the safety of the baby pool. The resort owned helipad offers the convenience of landing just 5 minutes away from the resort and transport would be arranged via golf buggies to transfer the guests from the helipad. ‘Dining at 98Acres Resort is yet another experience' Chamara said.

The Resort has an open air restaurant that can accommodate up to 50 pax. The highly skilled chef Pradeep puts up an amazing play with the main dishes while the desserts follow dining on comfortable bean bags for a change.

‘We serve any kind of cuisine according to guest's choice. From authentic Sri Lankan dishes to Western, Continental and Oriental cuisine are available at the resort' Chef said.

‘Bird lovers and nature enthusiasts can see 63 species of the birds six precious species endemic to the country' said Indika, the Resort's PR and naturalist. The resort facilitates a detailed bird watching programme or the bird lovers to explore the surroundings guided by Indika.

Apart from that we have archery, biking and all indoor games. We provide bikes for its guests to trail along the woods within the area and explore the tranquil hillside with ease.

‘The guests of the 98 Acres Resort are more than welcome to stroll around the plantation and a visit to the resort owned tea factory would also be gladly arranged for the tea lovers who wish to learn more about the legendary tea story' Chamara explained. The centrally location of the 98 Acres resort makes it an ideal spot for travellers to plan their excursions to the many attractions around the area. ‘We arrange excursions with a guide for the guests to explore the waterfalls (Dunhinda, Diyaluma and Ravana) within the area and are even equipped to arrange helicopter tours, tours to Badulla, Udawalawa, Yala. Adisham in Haputale or even to East coast on request' he added.

The room rates for the coming season range from Rs.16,500/- on FBD basis for standard rooms and Rs 18, 500/- FBD for deluxe rooms

Blue and Sperm Whales and Dolphins are back in Trincoo, Eastern Sri Lanka

21st March 2013, www.dailymirror.lk

Since the lost whales of Trinco were rediscovered in 2010, by a team of naturalists at ‘Cinnamon Nature Trails', numerous sightings of blue whales, sperm whales and dolphins have taken place making the season up in the East a rewarding experience.


The great blue off the coast of Trincomalee seems to be a popular playground for these marvellous marine mammals during March through April each year. As in previous years, the Cinnamon Nature Trails team is ready to take guests on a voyage that will almost guarantee a sighting of Whales and Dolphins including a glimpse of a super pod of Sperm whales often seen in Trinco during this period.

With all safety measures in place and a crew well experienced to make your cruise pleasurable. The Eastern whale watch is set to begin shortly off the city by the sea. Head of Eco Tourism for John Keells Resorts Chitral Jayatilake mentioned that all guests who will flock to Trinco this season for whale watching are welcome to submit tale fluke images for an ongoing Blue whale ID programme, while clear images once selected will be uploaded to a Flickr site with picture credit.

Chaaya Blu Trincomalee is situated just a few kilometres off Trincomalee and was built to reflect a retro chic design. Its strategic location gives guests the opportunity to experience these large marine mammals and the acrobatic spin of Dolphins just a few minutes away from the resort, or perhaps if one is lucky enough just at the very shores of the sea at Chaaya Blu.

A selection of Beach Chalets, Superior rooms and two Suites make up a total of 81 rooms, with two restaurants; one specialized in seafood and two bars which cater to your every whim.

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Sri Lanka to Make Centuries Old Dutch Canal a Tourist Attraction. 14km Section from Negombo Lagoon to Kelani Ganga Estuary Now Being Developed

19th February 2013, www.news360.lk

Sri Lanka has commenced work towards developing the remaining 14km section of the centuries old Dutch Canal, which will be transformed into a tourist attraction.

Accordingly, the 14km section of the Canal running from Negombo Lagoon to Kelani Ganga Estuary is now being developed by the Sri Lanka Land Reclamation and Development Corporation for rehabilitation.

The institution is already nearing completion of rehabilitating the 8.7km section of the Canal from Ma-Oya to Negombo Lagoon.

The total cost of the project runs up to Rs. 600 million.

“The canal and its vicinity is of much environmental importance since the area is home to different species of fish, birds and plants and rich in bio-diversity, making it ideal for Eco-tourism”, stated a media release issued by the Ministry of Economic Development.

It says, under the development program, embankments will be built to protect the canal banks, while either side of the waterway too will be beautified.

The canal will be de-silted and steps will also be taken to prevent pollution.

The facilities for the fisherman living along the canal will be enhanced through the establishment of fish sales stalls and also new Jetties for boats.

The work to complete the remaining work commenced during the weekend with the participation of Minsiter of Economic Development Basil Rajapaksa.

Hamilton Canal which has been built during the 15th century by King Vira Parakramabahu VIII, to transport cinnamon and other commodities, has later evolved with the intervention of the Dutch and the British rulers, who ruled the Island.

Pakistan's Arif Habib Group Goes for Commodities and Trade Consultancy in Sri Lanka. A Boost to Bi-lateral Trade

28th March 2013, www.lankabusinessonline.com

Pakistan's Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.

In Pakistan he said there was a strong push from authorities for Pakistani businesses to go to Sri Lanka.

"As one of the largest Pakistani groups there are a lot of opportunities," Beg said. "Pakistan and Sri Lanka have had very strong ties.

"The political relationships are very strong, the bureaucratic relationships are very strong. And in every way possible both countries have supported themselves.

"So why can't there be a strong commitment on trade as well."

Beg, who is the son of a group director took over the reins at Serendib Stockbrokers last year and says Arif Habib group is also putting money into stockbrokering, which was the first business, the group when it started.

He says fresh capital has been injected, the balance sheet has been cleaned and the group will continue to put resources to build the business, including with expanding research capacity which will allow Sri Lankan stocks to be marketed through the group's sales desks.

The group has put an application to start a physical wholesale commodity business and bring in one million US dollars.

"We have written to the Central Bank to bring in money to start a wholesale commodity business," Naushervan Beg, who heads Serendib Stockbrokers, a unit of Arif Habib group said.

"We have dedicated commodity specialists in Pakistan who would handle that."

Arif Habib group which started as a stock brokering firm in 1994 in Pakistan has later expanded into asset management, corporate finance and has acquired interests in cement and fertilizer plants and real estate and grown into a 600 million US dollar business.

The idea was still in the preliminary stages, and the commodity business if permission is given, would involve physical storage and trading, will be a separate business, if authorities give permission, he said.

A related group company, Thatta Cement is planning a cement bagging plant in the Hambantota port.

Beg says Sri Lankan exporters have lost some of the markets in they previously had in Pakistan and opportunities existed provided they had the right parties to deal with.

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Vizag Steel of India Seeks a Sri Lanka Partner for Manufaturing Tie-Up

28th March 2013, www.thehindu.com

 Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Vizag Steel, is looking for a Sri Lankan company to enter into a tie-up for manufacturing steel products there, a senior official of the state-owned steel maker has said.

RINL Director (Commercial) T.K. Chand said the company has already called for expression of interest from Sri Lankan steel rod and bar manufacturers for the tie-up and the process of selection of the partner may come to a final stage by May.

“We have already floated EOI (Expression of Interest) in this regard and received offers from companies who have manufacturing facility in that country. By May, we expect that the process may reach final stages,” Mr. Chand said.

According to him, the steel maker, on its part, will supply billets for conversion into CTD/TMT rebars and structurals on wet-leasing basis in Sri Lanka.

“We will not make any investments into the plant. We are looking for a party with minimum three years experience in conversion of billets into CTD/TMT rebars and structurals and having valid licence for production. The entire capacity of SPU/RM shall be dedicated to RINL,” Mr. Chand added.

Another senior official said the RINL is looking at a plant with 1.5 lakh tonne per annum capacity plant in the south Asian country.

The official said they would look at a new manufacturing either in Hambantota or Trincomalee areas of the island nation so that they can use the harbour network for export purpose to countries which include the Maldives and the Myanmar.

“A study revealed that there is good potential for RINL products in Sri Lanka. And also export of billets is easier to Sri Lanka from Chennai port,” the official said when asked why the company is zeroed in on Sri Lanka.

Mr. Chand said the Navratna Company is also planning to open a regional office at the World Trade Centre in Sri Lanka.

Replying to query, he said currently RINL exports around 3 per cent of its production and has plans to increase it by 10 per cent in the coming two to three years.

The steel maker currently exports finished products to countries such as the US, UAE, Thailand, Bangladesh and Sri Lanka.

RINL is currently working on expansion, after which the steel making capacity will increase to 6.3 million tonnes per annum (MTPA), from the existing 3 MTPA.