Sri Lanka Carson to Buy Three Malaysian Firms Manufacturing & Exporting Specialty & Vegetable Fats

18th February 2011, www.lankabusinessonline.com

A Singapore-based unit of Sri Lanka's Carson Cumberbatch conglomerate has made a bid to buy three Malaysian firms manufacturing and exporting specialty and vegetable fats, a stock exchange filing said.

Premium Nutrients Bhd has told Bursa Malaysia, the Malaysian stock exchange, it has received an offer from Agro Asia Pacific, a Carson unit, to buy three of its subsidiaries which makes up its core business for 117.95 million ringgit.

Agro Asia Pacific is a marketing arm of Goodhope Asia Holdings of Singapore, a holding company set up by the Carson group to run its oil palm plantations in Malaysia and Indonesia.

According to the Premium Nutrients stock exchange filing Agro Asia Pacific wants to acquire full control of Arani Agro Oil Industries, Premium Vegetable Oils Sdn Bhd and Premium Fats Sdn Bhd.

Premium Nutrients group makes vegetable and specialty fats and other products for confectionary applications like cocoa butter and chocolate spreads for customers like Cadbury, Nestle, Kraft Foods, Kerry Ingredients (Malaysia) and Bunge (Canada).

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Sri Lanka is a Holidaymaker’s Paradise - Neeta Lal, A Malaysian Travel Writer

22 December 2010, www.news.lk

Sri Lanka is “Clearly, a holiday maker’s paradise”. The Malaysian Travel Writer Neeta Lal says Sri Lanka is perfect for the global traveler, and offers not only five-star accommodations in great locations but also delightful custom-made ‘experiences’.

She says an elephant ride on a star-lit beach, a champagne-soaked dinner under a star-spangled sky, or a river cruise to view one of the world’s most magical garden retreats are products available for tourists in Sri Lanka.

Describing her stay at Vivanta at Taj Resort in Bentota, the writer points out that nothing, it seems, is impossible to organise at the Resort in Bentota, a stunning, ocean-fronted property located on Sri Lanka’s southwest coast, the hotel is situated over a sinuous hill and offers 162 modern rooms with private sit-outs that overlook lush gardens and a glutinous Indian Ocean.

Writing about one of her excursions during her visit, Nita Lal says that the excursion took her to the enchanting 15-acre estate of Lunuganga, an exquisite piece of property that is a tropical rendition of an Italian garden. Fringing Deduwa Lake, and it is one of the world’s most magical garden retreats complete with statues, courtyards and lily ponds that flank secret pathways.

It was followed by a boat safari on the River Madhu, and the boat glided on the shimmering water, coursing through thick mangroves and rich flora and fauna. She also describes viewing the primitive style of fishing and prawn trapping still practised by the island’s inhabitants.

Neeta also praises about facilities available in Sri Lanka including rejuvenating massage and scrub available at Spas, state of the art fitness centres, the delicious food, spice infused curries and stews Sri Lanka is famous for, fine hotels, water sports activities, well connected road network to Colombo, and ayurvedic treatments.

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Sri Lanka to Receive Malaysian Investment. Bilateral Trade with Malaysia Continues to Grow

16th December 2010, www.dailynews.lk, Sanjeevi Jayasuriya

Sri Lanka could offer a wide range of opportunities for the Malaysian construction and professional services providers supplementing the Government development drive.

“We are in Sri Lanka to explore opportunities and to promote green building and sustainability in city development projects. Our expertise could be made use of by this country in making systematic progress towards planned township and facility location,” Malaysia External Trade Development Corporation Development Deputy Chief Executive Mohamad Kamurudeen Hassan said.

“There is strong interest in Malaysia to further strengthen business collaborations and partnerships. Malaysian companies have achieved major successes in the construction of landmark projects both in Malaysia and overseas.

With experience gained at home, we could venture abroad and establish a reputation for delivery and quality work,” he said.

Bilateral trade between Sri Lanka and Malaysia continues to grow steadily. In 2009 total trade between Sri Lanka and Malaysia amounted to US $ 424 million with exports to Sri Lanka recording US $ 376 million and imports recording US $ 48 million, he said.

Total trade between Sri Lanka and Malaysia was US $ 415 million for the period of January to October this year. Exports to Sri Lanka for the same period recorded US $ 354 million. The top five exports to Sri Lanka from Malaysia during this period were chemicals and chemical products, palm oil, non- metallic mineral products, refined petroleum products and electrical and electronic products.

Imports from Sri Lanka to Malaysia for the period of January to October 2010 amounted to US $ 61 million and top five imports were crude rubber, chemicals and chemical products, textiles and clothing, rubber products and processed food, he said.

“We can actively involve in areas such as civil engineering, project design, management and contracting in the fields of mechanical and electrical engineering, geo-technical, township and property development.

“We will also be looking at township and property development, architectural, interior, planning consultancy and design services, design, build, maintenance and refurbishment of sewerage treatment plants, highway concessions services, integrated facilities management services, systems operation and maintenance and consultancy services, industrial building systems, manufacturing of wood wool composite panels and decorative stone works,” he said.

This program provides a useful platform to create awareness among the Sri Lankan business community of the available expertise and capabilities of the Malaysian service providers. Malaysian companies have been involved with construction projects since 1997 in sectors such as hospitality and tourism, energy, oil and gas, water supply and housing projects totalling to US $ 107 million in Sri Lanka, Kamurudeen said.

A 15 member Malaysian delegation consisting of construction and professional service providers visited Sri Lanka where they attended a seminar on Malaysia - Sri Lanka business opportunities in the construction and professional services sector held in Colombo.

Sri Lanka's Dasa Joins Sunway to Invest $78mn on 34 Storey Tower

18th June 2010, www.dailynews.lk, By Ramani Kangaraatachchi, Picture by Saliya Rupasinghe

A leading conglomerate in Malaysia, Sunway Holdings entered a joint venture agreement with Dasa Group in Sri Lanka to invest on a 34 storey tower to the value of US $78 million yesterday.
The MoU with regard to this, was signed by Dasa Group Chairman S.D. Gunadasa and Sunway Holdings Managing Director Yau Kok Seng at the Cinnamon Grand yesterday.

Seng said as per the agreement, a 60,000 square feet prime land situated in Bambalapitiya belonging to Dasa Group will be developed by Sunway Holdings within the next three years.

The mixed development will include 220 medium and high class housing units. This is the first investment in Sri Lanka by Sunway Holdings and they hope to expand the business further.

He said that Sunway Holdings has done a feasibility report and a market survey on the project and found that there are lot of opportunities to further explore.

Sunway will bring their expertise and technology to Sri Lanka and execute the Blue Ocean theory during the development.

The project will create a large number of employment opportunities and Sri Lanka can offer resources such as skilled and unskilled labour and other services which will be outsourced for the project.

The Sri Lankan property market has shown a tremendous progress in the recent past and it can be positioned as the gateway to India as cross border investments are important to global relationship, Seng said.

Sunway Holdings established in 1974 has throve to become one of Malaysia’s widely recognized and diversified conglomerates with a multitude of established businesses.

Its core businesses include civil engineering and construction, building materials, trading and manufacturing, quarrying information technology, property development and investment, leisure, entertainment and hospitality, healthcare and education.

Image: Dasa Group Chairman S.D. Gunadasa with Sunway Holdings Managing Director Yau Kok Seng at the launch.

Mahathir Mohamed in Sri Lanka to Address Sri Lanka Malaysia Business Council

06th June 2010, www.news.lk

Former Prime Minister of Malaysia Dr. Mahathir Mohamed will arrive in Sri Lanka on Tuesday the 8th, to address the 6th Annual Business Awards ceremony of the Sri Lanka Malaysia Business Council.

Dr. Mahathir Mohamed has been acclaimed as the architect for transforming Malaysia into a modern economic giant in Asia. He will be the chief guest at the 6th Annual Business Awards of the Sri Lanka Malaysia Business Council to be held in Colombo on 9th of this month.

This will be Dr. Mohamed’s second visit to the island. Earlier he arrived in the island and participated as the keynote speaker at the CIMA Global Leaders’ Summit in Colombo in May 2005.

Malaysian Companies Keen to Invest in Sri Lanka with its Target FDI of $1bn in 2010

21st May 2010, biz.thestar.com.my

Sri Lanka, via its Board of Investment (BoI), is currently in discussions with several local companies concerning their interest to invest in diverse fields.

Sri Lankan High Commissioner to Malaysia, Dr Don Dandayanda Ranasinghe, said the companies, which included Sunway, YTL, Genting and Berjaya, showed interest in sectors like tourism, infrastructure, education and financial services.

“Discussions are still ongoing and progressing very smoothly,” he told reporters after a seminar on Business and Investment Opportunities in Sri Lanka, organised by Malaysian Investment Development Authority and Sri Lanka here yesterday.

Among the major Malaysian companies having operations in Sri Lanka are Axiata Group Bhd in cellular mobile phone network, Merbok Hilir Bhd in medium density fibreboard, Lagenda Sentissa Sdn Bhd in public payphone system, Felda Marketing Services Sdn Bhd in cultivating oil seeds and hydrogenated edible oil, and Pembinaan Wincon Sdn Bhd in housing development.

Malaysia is expected to remain as one of the main investors in Sri Lanka in next five to 10 years, according to Ranasinghe.

He said the Sri Lankan government was calling on the Malaysian business community to invest in various sectors promoted by BoI Sri Lanka as the country was now in a new phase of economic development.

Among the sectors are infrastructure, tourism, education, logistical services, agriculture, manufacturing, rubber industry, business process outsourcing and software industry as well as gems and jewellery. — Bernama

Ranasinghe said Sri Lanka aimed to attract US$1bil in foreign direct investments this year from last year’s US$889mil as foreign investments would play a major role in economic development.

“Sri Lanka, which has gone through a difficult and turbulent period of over three decades due to internal conflict, is now at a turning point in our history, both politically and economically,” he said. — Bernama

Malaysian - Bahraini Joint Venture for a US$ 230mn Waste to Energy Plant in Sri Lanka

25th March 2010, www.dailynews.lk

The BOI signed an agreement worth US$ 230 million with the Malaysian-Bahraini joint venture Orizon Renewable Energy Private Ltd to build a waste to energy plant. The plant will be built on a 20-acre land at Kahatamedawelyaya, Muthurajawela, in the Gampaha District.

The project agreement was signed by BOI Board Members Channa Palansuriya and Upali Samaraweera, Environmental Affairs and Natural Resources Ministry Secretary Jayathilake and Octogon Consolidated Berhad Executive Director and Orizon Renewable Energy Private Limited Siti Fatima Mohamed Shariff.

The project involves several phases. It will first engage in the rehabilitation of the existing Bloemendhal dumpsite.

In addition the project also involves the construction and operation of a new landfill for fresh water wastes from Colombo and the Western Province.

The most important phase is the construction of a waste to energy plant that will completely destroy up to 1,300 tonnes a day of solid waste. Also important is that it will generate 56 Megawatts of power, and export about 45 MW to the net power grid.

The main attraction to the public and to the country is that the wastes will be completely destroyed without causing pollution or gas emissions. It will also ensure that no more lands will be allocated to landfills.

Another dimension is the reduction of health risks as many diseases, such as dengue, have spread as a result of mosquitoes breeding in landfills and other areas where waste is deposited.

The BOI is keen to have promoted this project since in addition to the abovementioned benefits to the country, it has created many opportunities for the training of skilled local workers. Since this is a new area that has not existed in Sri Lanka, it will result in a certain quantum of technology transfers to local communities.

BOI Deputy Director General A.M.C. Kulasekera said that the BOI has taken the lead role in establishing this project but the stakeholder agencies such as the Environment and Natural Resources Ministry, the Sustainable Energy Authority, the Public Utilities Commission and the Land Reclamation Authority also contributed immensely towards its implementation. "The key to success is team work involving all stakeholder agencies," he said.

Orizon Renewable Energy Chairman Siti Fatima Mohamed Shariff, said that the project was very significant as it will add 55 MW to the National Grid.