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LakJaya targets Rs. 200m asset base

Lumbini EDIRISINGHE

LakJaya Micro Finance Limited is hoping to increase their asset base to Rs. 200 million by the end of next year. The company already has a savings base in the excess of Rs. 150 million.

At the end of October 2008, LakJaya crossed the billion-rupee mark in loan disbursement. LakJaya was founded in 2002, as LakJaya Micro Finance Limited, a limited liability company, incorporated with the Registrar of Companies.

The management first visited Grameen Bank of Bangladesh and studied the organisation and received assistance and management advice from senior officials of Grameen Bank.

The Founder of Grameen Bank, who is the 2007 Nobel Peace laureate Professor Muhammed Yunus, was among those he met with. On his return after the exposure visit to Grameen Bank, Lasantha, with the assistance of a former bank colleague, prepared a concept paper and distributed literally hundreds of copies among potential investors.

In 2005 LakJaya transformed its lending methodology from a group methodology to an individual methodology replicating ASA, Bangladesh, which is one of the largest and efficient micro finance providers in the world.

Lending operations of the company commenced from Sekerapura, Rajagiriya a low-income locality.

The initial clientele was about 15 poor women from the area who were divided. This was typical of the Grameen lending model.

Later that year lending operations commenced in other areas such as Thalduwa, which is a village adjacent to Awissawella and also Dikkumbura, which is a little village in Galle.

Through the success of these operations, it was proved that the lending model of LakJaya could be replicated.

Seeing that the estate workers on Tea plantations fell into the category of the unlendable, LakJaya ventured into granting loans to estate workers in collaboration with estate management companies.

These loans were granted to upgrade the estate workers living quarters (line rooms) and for electrification of same.

Today LakJaya has financed about 2000 estate workers.

The Management and staff recently felicitated the Company's Founder and Executive Chairman Lasantha Mendis, by organising a colourful event at MAS Fabric Park, Thulhiriya at their own personal expense titled "Apage Upaharaya".
 

4th China Int'l Gold Jewellery and Gem Fair 2008 :

Local jewelers eyeing lucrative Shanghai market

National Gem and Jewellery Authority together with Sri Lankan jewellery companies participated at the 4th China International Gold Jewellery and Gem Fair 2008 in Shanghai.

Sri Lanka booth comprised of Furqan Ali and Sons Gem Exporters, J. A. de Silva and Co. Ltd., Yong Hua Lanka Gems Jewellery (Pvt) Ltd., South Lanka Gem and Jewellery. Companies such as Buraak Jewels (Pvt) Limited, Sparkle Gems, Shan Trading Gem, Queen Lanka Gems and Jewellery and DD Gems had their own stall at the fair.

Shanghai has become the leading hub with exchange centres at the heart of the jewellery industry offering trading in gold, plated gold, diamonds and silver. This Fair has been held in Shanghai since 2003. Over 170 exhibitors from 11 countries and regions and over 9000 buyers/visitors from home and abroad have participated at this fair this year. Domestic and international jewellery brands attended the fair.

The Sri Lankan booths attracted a large number of visitors. Sri Lanka exports precious, semi - precious, precious metal or metal clad precious stones to China in the recent past has witnessed a remarkable growth of more than 100 per cent in 2007 compared to the corresponding year.

The growth of China jewellery industry is exceedingly faster than expected. Starting from 2005, the sales of China's jewellery industry have increased by about CNY 20 billion annually and it reached CNY 180 billion in 2007. By 2020, the annual sales volume of China's jewellery industry is expected to reach CNY 300 billion. On the sideline of the Jewellery Fair, the Sri Lankan delegation met with the Shanghai Gem and Jade Association and discussed matters pertaining to the industry.

Ambassador Karunatilleka Amunugama while briefing on Sri Lanka's gem and jewellery industry stated that the companies from both countries should initially develop and strengthen ties to facilitate meaningful trade relations.

He said Sri Lankan companies have a long history in this trade and with the passage of time they have built a strong foundation to conduct business all over the world.

Asiri Surgical Wellness Centre ties up with Vision Care

The Asiri Surgical Wellness Centre has teamed up with Vision Care, to provide eye testing and diagnostics for corporate clients. Focussing on sectors that are most prone to sight problems, this team will visit companies' encouraging employers and their employees to get tested.

"In this day and age where people are so dependent on computers, it is common to ignore their eyesight and strain at computer screens," said Consultant Eye Specialist for Asiri Hospitals Dr. Rangika Gunaratne. "This, in turn, affects productivity. Therefore, employers would benefit to conduct these eye tests regularly at their workplaces."

Very often, people ignore their eyesight because they cannot find the time to visit busy eye clinics. With the Asiri Wellness Mobile Unit, a team of nurses and optometrists from Vision Care will conduct testing at any office premise. Whilst the team from the Asiri Wellness Centre does a general check up, Vision Care will conduct the eye tests and recommend the necessary treatment.

Manager Vision Care Asiri Branch, Manjula Nissanka,said that this partnership will complete the overall wellness check up. "We have also set up a branch at Asiri Central for convenient follow up checks," he added.

The first Wellness Camp was held at Aeturnum, an IT company with over 100 employees who had a thorough check up done at their premises.

Seminar to promote best practices:

Cleaner production: Minimise waste and improve profits

The Association for International Standards, affiliated to the Ceylon Chamber of Commerce, in their continuing effort to promote best practices amongst the business community will conduct a seminar on "Cleaner production: Minimise waste, improve profits" on December 17 at the Ceylon Chamber of Commerce.

Manufacturing operations and service activities utilise resources in the form of materials, energy and utilities and generate waste such as air emissions, effluents and liquid discharges, solid waste and wasted energy through ineffective equipment and processes.

These wastes are usually identified as using End-of-Pipe approaches.

Cleaner Production Methodology adopts techniques to identify waste of process inputs at source and finding solutions through quantification of such waste and implementing appropriate methods to reduce waste and hence improving the financial bottom-line while reducing pollution which will improve environmental performance.

The seminar will be conducted by P.P. Perera who has over 40 years experience in rubber products manufacturing Companies in Sri Lanka and East Africa.

He is also a Fellow of the Institute of Materials UK and the Plastics and Rubber Institute of Sri Lanka.

Perera is a Corporate Member of the Sri Lanka Association of Quality and The Sri Lanka Institute of Training and Development.

He is also an ISO 9000/14000 Consultant and an Auditor.

Nations Trust Bank Christmas celebration

In the spirit of the season, Nations Trust Bank PLC recently announced a special Christmas celebration to all its young Nations Kidz customers.

"A visit from Santa Claus is something all children eagerly wish for. At Nations Trust Bank we wanted to treat our young account holders this season with something exciting and almost magical, which is why we planned the special visit by Santa Claus to your home, bearing gifts for your children," said Chief Manager Branches and Personal Banking Centres at Nations Trust Bank PLC, Irishad Ally. To ensure your child is also on Santa's list, open a new Nations Kidz account for your child at Nations Trust Bank with a deposit of Rs. 25,000. Existing account holders may make a deposit of the same amount to ensure their child will also receive the opportunity to experience this magical moment.