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Wealth Lanka enters into agreement with Ceylinco Shriram

To structure repayment program:

The Directors of Ceylinco Shriram Capital Management Services Co. (Pvt.) Ltd, (Ceylinco Shriram), a member of Ceylinco Consolidated, have sought the expertise of Wealth Lanka Management (Pvt.) Ltd to evaluate the assets and liabilities of Ceylinco Capital Investment Company (Pvt.) Ltd and CLC Asset Management (Pvt.) Ltd, two entities managed by Ceylinco Shriram and to formulate a repayment program to meet its liabilities to creditors. The parties have entered into an agreement in this regard.

Having sought the advice of a reputed legal firm, Ms. Nithya Partners, an independent administrator has been appointed to infuse confidence to the creditors and to protect the interests of the creditors until a formal repayment plan is presented for the creditors' approval. Former Financial Ombudsman Walter Ladduwahetty has been appointed administrator which appointment has to be ratified at a meeting of creditors to be called shortly.

Wealth Lanka is an independent professional organization providing expert and specialist services in investment banking, enterprise restructuring, risk management and project advisory services besides treasury management and capital market advisory services.

The Company comprises a team of qualified banking and finance professionals with significant expertise and experience.

Russels new outlet at INGRIN

Chairman, Russel's, Russel Perera who introduced Russel's Tea Service opened an outlet at Ingrin.

He has over 80 tea outlets in Colombo where quality tea is served by professional staff.

He has also expanded to catering, fashion and garments. Russels cater for weddings, birthdays and other business functions.

At the INGRIN outlet Russels promote breakfast and lunch packets to office staff and students travelling to Colombo.

Nations Trust Bank relocates in Kiribathgoda

Nations Trust Bank PLC recently opened its newly refurbished branch in Kiribathgoda.

This branch offers customers an advanced state-of-the-art ATM machine to cater to the varied customer needs, which allows cash deposits and instant credit to the customer's account.

Director/CEO of Nations Trust Bank PLC Zulfiqar Zavahir said, "The Bank continues to add value to its branch network across the country, in its steadfast commitment towards delivering greater levels of convenience for our customers."

"The Bank at Your Doorstep service recently launched by the Bank will continue to be a key driving factor to the Bank's customers" he said.

NComputing to utilize maximum potential in computers

A computer without which most organizations cannot function is still a luxury to many people in third world, due to the high costs and maintenance.

But the most important question is whether we utilize our computers to their maximum potential. There are so many applications running in a computer that most of us are not even aware of. Instead of using the maximum potential of a Computer, we tend to buy more and more.

NComputing provides an answer to this issue. It is a company that has come up with a small device that helps you to have your own virtual computer. This means that instead of buying 11 personal computers you can buy one computer and 10 of these devices and virtualize that single computer. Educational Institutions can practically use NComputing by purchasing only 5000 computers instead of 50,000. Each time a user logs in to the computer using NComputing he or she will have their own desktop, own documents and own applications making it his or her own Computer.

The product is exclusively being marketed and distributed in Sri Lanka by Bartleet Electronics, a subsidiary of the Bartleet Group.

The Wall Street Journal awarded the 'Technology Innovation Award' to NComputing in 2007. This simple device is rich in affordability, compatibility and simplicity. The cost to the end user will be negligible when compared to buying a new computer. Furthermore a computer needs to be replaced after about three years. Whereas this device does not get obsolete. For example, if a company buys three computers and 27 of these devices, instead of buying 30 computers the company will only have to replace three computers after three years.

DFCC Vardhana Bank goes to Nuwara Eliya and Kalawana

DFCC Vardhana Bank the everyday banking unit of DFCC Bank, opened two new branches in Nuwara Eliya and Kalawana recently.

There was a large gathering at the openings of the Vardhana Bank's Nuwara Eliya and Kalawana branches which affirmed an acute need for day-to-day banking services.

A special interest rate is provided for six months fixed deposits in both these branches for a period of one month from the date of the opening of the branch to offer an added benefit to the public in these areas. These new branches offer customers a wide range of commercial banking services concurrent to those offered by all other DVB branches islandwide.

In addition, DVB offers those joining its rapidly expanding customers benefits from its banking services as the bank gears up to offer its services to more people throughout the country by expanding the bank's geographic network. With the above two Branches Vardhana Bank now comprises a total of 44 branches islandwide.