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| Tuesday, 15 June 2004 |
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AMCHAM - 2003 best in 12 years in Lanka The American Chamber of Commerce in Sri Lanka (AMCHAM) had the best year last year in every aspect of Chamber Management during the 12 years of its existence in Sri Lanka.
According to the AMCHAM President Kishu Gomes the Chamber's annual report had its best financial year last year and 25 percent of net income was donated to the Chamber's charity and social activities. The Chamber also enhanced corporate perception and had an increase in the managing organisation capability. Excerpts from the AMCHAM President's report. A change in office culture was mandatory to get the best out of our permanent staff in our efforts to deliver better results. The new performance based rewards scheme introduced helped the staff to stay focused on the job. "I believe this is a critical step change in your Chamber. Your Board also took the decision to employ a Communication Consultant in order to deploy the strategic intents," he said. Though we are a non-profit organisation, strong financials were achieved making it the best year. Retained earnings as at end of the financial year stood at Rs. 8,119,655 with an annual profit of Rs. 2,199,170. Excerpts from the AMCHAM Director's report The past year has been one of the most successful that AMCHAM has had so far. This also released the economy of the country over the past year. With the most number of activities compared to previous years there were a few highlights which need mention. The visiting delegation from Honeywell who were here for three days in September was a great success. Honeywell was looking to start a base in Sri Lanka and was here to assess which business they would start off with. Although they have yet to get their operations off the ground the future prospects look very bright. A few key issues which AmCham have been involved over the past year include a potential Free Trade Agreement (FTA) with the US. The Board met Josette Shinner from the United States Trade Representative's office to discuss the possibilities of entering into a Free Trade Agreement. With Intellectual Property Rights becoming law the main focus has been on raising awareness within the business community. The financial strength of AMCHAM has become much stronger over the course of this year. With good fiscal management by the Secretariat and tremendous sponsorship from our events as well as participation we have had the best financial year to-date. The sound position of AMCHAM will enable the future Board to invest in better services for its membership. |
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