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Finance and Guarantee Developers (Pvt.) Ltd has made an investment of Rs. 450 million to construct the Majestic Terrace apartments at Wellawatte. A subsidiary of Ceylinco Consolidated, the company has already commenced work on the 66-apartment project.

Director F&G Developers Mohan Perera said that funds within the company and profits from their previous two housing projects were used for this purpose.

He said that the project commenced last March and will be completed on December 4, 2003. "We have already sold 20 apartments," he said.

The Director said that unlike their previous projects, residents from the North East have made many positive inquiries for Majestic Terrace. "We attribute this to the ongoing peace process."

He said that F&G Developers commenced operation 12 years ago and this was their third housing project in the City.

"Our first project was the Carlton Terrace which was a Rs. 100 million investment and the next was the Rs. 350 million Majestic apartments."

He said that the company has also focused on building Supermarket complexes and has completed a project in Pasyala with 41 shops. "We are now constructing a similar project at Nittambuwa with 47 units."

Perera said that their next major project is the Fingara Town and Country Club at Nugegoda which is a Rs. 350 million venture. "This is a family club concept project and will be opened in April." CMA Cost Management seminars The Society of Certified Management Accountants (CMA) will conduct a series of Professional Management Development Programs on Cost Management from March 25 to 29 at Taj Samudra Hotel. 

The seminars will cover topics on Balanced Scorecard, Activity Based Cost Management, Target and Kaizen Costing and Cost Management for non-financial managers. The seminars are meant to develop the professional skills of managers in order to improve the performance of companies by mapping strategies into measurable performance, improving performance, obtaining competitive advantage and improving organisational effectiveness. 

The seminars will also have case studies and a group discussion and use experiences of successful implementation of these techniques in worldwide companies. 

The seminars will be conducted by A N Raman, Chartered and Management Accountant from India who has been actively involved in consulting as a management accountant and served in the Management Accounting Committee of the International Federation of Accountants the world accounting body.

 He has worked with leading companies in India on ABC, Balanced Scorecard and Cost Management training and brings with him a wealth of practical experience. In 1990 he promoted an organisation jointly with Dr. Peter Turney from USA, the renowned Guru in ABC. 

He has conducted many seminars and workshops in India, Kuala Lumpur, Penang and Johor Bahru in Malaysia, Abu Dhabi in Dubai and in Sri Lanka.

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