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| Tuesday, 13 May 2003 |
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Business in brief Ceylinco Seylan Towers turnover increases by 7.5% to Rs. 35.4 m in Q1 Ceylinco Seylan Towers which commenced commercial operations in year 2000 has commenced showing an operational profit in the first-quarter of 2003. During the first quarter in 2003, the turnover increased by 7.5% to Rs. 35.4 million from Rs. 28 million during the corresponding period last year since the revenue from the renting of commercial space and apartments were increased. The operating expenses increased only marginally from Rs. 22.8 million into Rs. 23.4 million due to prudent control on expenditure. The interest charges declined by 4.3% from Rs. 18.5 million to Rs. 14.2 million as a result of successful negotiations with banks in obtaining lower interest rates. Indices drops, turnover levels healthy The Colombo Bourse indices recorded a decline yesterday as the ASPI dropped to 844.3 points from 852.3 points the previous day and the Milanka Index to 1,481 points from 1,490.8. However, turnover levels continued to remain healthy, totalling Rs.350.65 million for the day. The market initially dipped 10 points due to the negative news from the political front, but strong buying pressure resisted a further downfall. Investors were keen to pick up fundamentally strong stocks, despite the political tensions. Large volumes of John Keels Holdings shares and significant volumes of Sathosa Motors shares, which changed hands contributed significantly to the day's turnover. Among the top five gainers were Alliance, Selinsing, Sathosa Motors, Parquet and Vanik Incorporation Limited. Treasury's information network launch today The Network Operations Centre, set up as the Finance Ministry's secure operational hub of its information network will be launched today by Minister K.N. Choksy. The information network links nine departments and 400 computers in a secure and virus-free network with a messaging service using standard individual e-mail addresses to facilitate inter-departmental communication. Shared access to information in departmental databases will be available through the networked data interchange facility and a personnel database is being implemented as the first ministry-wide application. Treasury Secretary Charitha Ratwatte said the Government is working towards a long-term plan for the integration of all financial management systems across the government and the establishment of the information network within the ministry linking departmental computer users to each other and to the outside world via the internet. The Treasury will use the information network to improve the transparency of government finances by disseminating user-friendly information direct to the public through the web-site www.treasury.gov.lk. John Keells OfficeAutomation awards top performers John Keells Office Automation (Pvt) Ltd. (JKOA), the sole distributor for Toshiba products in Sri Lanka and the Maldives held their annual dealer convention recently at Hotel Trans Asia. K. T. Office Automation (North Western) Office Automation (Southern Province) Al Madhena Tele Shop (Negombo District) Damens (Badulla District) and Copier repair from the Maldives were selected as the five most outstanding dealers for last year. Copier repair of Maldives also received the best performance award for the last financial year. Awards were also presented to dealers with the highest revenue, highest consumable revenue and two more awards for the best up-and-coming dealers. Chandima Perera, Director General Manager JKOA, said that their business has had a steady growth of 47% during the last year. He said that the main contributions for the growth came from North Western, Northern and North Eastern Provinces and a significant contribution from the Maldives. Two guests from Toshiba Corporation Singapore, Philip Wu and Andy Ow, dealers from all provinces including the northern, north eastern provinces and the Republic of Maldives were present. |
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