ADVERTORIAL

'Victoria Range' bungalows:

Special loans from ComBank

People aspiring to own a luxury residence or holiday bungalow nestled amidst the lush and tranquil hills of Kandy can now obtain financial assistance for the purpose from the Commercial Bank of Ceylon.

An agreement entered into by the bank with Nivasie Developers (Pvt) Ltd., paves the way for Commercial Bank to provide housing loans at concessionary interest rates for the purchase of residential properties at Nivasie's "Victoria Range Bungalows" at Digana.

Commercial Bank AGM Personal Banking Sandra Walgama (front left) at the exchanging of the MoU with Nivasie Developers Managing Director and CEO Herman Gonsal. Officials of Commercial Bank and Nivasie look on.

An interest rate of 11.5 percent per annum will apply to these loans for the first three years. A floating interest rate linked to the Central Bank's Prime Lending Rate will apply thereafter. The repayment period is up to 20 years, but an extension of the period can be negotiated, the bank said.

The "Victoria Range" comprises 320 luxury bungalows, priced at Rs. 7.5 million upwards. Already, 240 bungalows have been sold by Nivasie Developers.

All modern amenities and recreational facilities including a pool and a club house, well laid out road network, gymnasium, playground, jogging track through a wooded reserve, children's playground, parks and tennis and squash courts are part of this exclusive development.

Twenty four-hour security services are also provided for the complex which has been constructed with the use of the best and most environment-friendly practices and high quality materials, Nivasie Developers said.

"The low interest environment prevalent in the country at present has boosted the demand for housing and Commercial Bank, as one of the fastest growing providers of housing loans, has developed strategic ties with several reputed developers to take advantage of this opportunity," a spokesperson for the bank said. "Our partnership with Nivasie Developers will enable the Bank to serve an important market segment," the spokesman said.

The bank provides home loans at competitive rates to fulfil funding requirements for the purchase of houses and land for construction; for the renovation, extension and completion of houses and for the purchase of condominium apartments in urban areas. The bank also accepts the transfer of home loans of other banks at lower rates. Customers have the option of choosing variable or fixed interest rates according to their needs. The longer repayment periods and the fact that minimum paperwork is required by the bank - which speeds up the process - have made Commercial Bank home loans a preferred option, the spokesperson said.

Nivasie Developers, a fully owned subsidiary of International Construction Consortium Ltd (ICC), one of the leading construction companies in Sri Lanka, comes under the flagship of the Finco Group of Companies.

Nivasie which commenced operations in 2,000 has completed projects such as Nivasiepura and The Nest at Ja Ela and Hill Crest Estate at Piliyandala. All housing projects of Nivasie are based on eco-friendly concepts.

Central Lancashire Uni offers PhD scholarships

Ramani KANGARAARACHCHI

The University of Central Lancashire (Uclan) in the UK which is going to start a British University in Sri Lanka has offered fifty PhD scholarships worth more than US $ 1.5 million to Sri Lanka.

Uva Wellassa University Vice Chancellor Chandra Embuldeniya told 'Daily News Business' that it is a great opportunity for Sri Lankan students.

He said there are only about 40 Phd applicants in Sri Lanka per year and all of them have the opportunity to apply for this and get selected.

These scholarships cover a broad area range from sciences, social work, business, law and the arts of humanities. The scholarships will start in October 2011 in UK.

University Director of Research Dr Robert Walsh said that postgraduate research students are the engine driving the research forward into the future. Each student coming to the Uclan University will experience a stimulating research atmosphere in all academic disciplines allow them to reach their full research potential.

The Uclan was assessed along with other UK institutions by the Higher Education Funding Council over the last several years. Seventeen subject areas offered by Uclan have been rated as having research standards of International Excellence while eleven of them classified as world's leading standards Embuldeniya said.

More details can be obtained from www.uclan.ac.uk/studentship

NDB Bank expands to Ja-Ela

As part of its aggressive expansion drive, NDB Bank added another branch to its increasing network throughout the island, with the recent opening of the Ja-Ela branch.

NDB Bank CEO Russell de Mel

The Ja-Ela branch - the 49th in its expanding branch network will offer convenience and easy access to the diverse customer base including the business community in and around Ja-Ela by offering its products and services at No 121, Colombo Road, Ja-Ela.

The branch will be open between 9 am and 4 pm from Monday to Friday and between 9 am and 1 pm on Saturday; giving customers added convenience.

With the opening of the Ja-Ela branch, retail banking services, such as current and savings accounts, children's savings accounts, NRFC/RFC accounts, fixed deposits, housing loans, education loans, personal loans, leasing facilities, credit cards, pawning services and Western Union money transfer services, internet banking, safety lockers and bancassurrance will be provided to customers in and around Ja-Ela.

NDB Bank will also provide a range of financial services to the business community in the area, backed by its expertise and knowledge in SME financing services. The bank's many SME financing facilities include short-term working capital loans, supplier and distributor financing and long-term funding, which will be beneficial for the business community in Ja-Ela thereby enabling them to grow their businesses with NDB Bank.

 Coca-Cola marks 125 years

To celebrate 125 years of sharing happiness since the first Coca-Cola was enjoyed on May, 8, 1886, the Coca-Cola Company is thanking everyone who has made refreshing the world since then possible with innovative, cultural events and exclusive collaborations throughout the year and around the globe.

"We would not have reached this milestone without those who love our brands, because everyone, who has enjoyed a Coca-Cola in the past 125 years has played a part in helping us refresh the world the Coca-Cola Company ," Chairman and Chief Executive Officer Muhtar Kent said.

"Throughout this year, we want to celebrate by thanking the people around the globe who have made the brand what it is today. To our associates, customers, partners and everyone who loves Coca-Cola, we thank you," he said. For the anniversary weekend, the company created and shared moments of happiness in a way Coca-Cola always has - by bringing people together through music, art and entertainment.

On May 7, Coca-Cola hosted a special festival at Pemberton Place in Atlanta for employees and their families, where they assembled Red Cross disaster relief kits and participated in a variety of arts activities.

That afternoon, the company hosted a 125th Anniversary Celebration Concert that was streamed online as a live "thank you" to people around the world at www.Coca-Cola.com/125, with integration through social media including You Tube, Facebook and Twitter. Musicians from Somalia, New Zealand, Britain and the United States came together to preform at the concert, including the Grammy award-winning singer and American Idol season one winner Kelly Clarkson.

Hosted by Ryan Seacrest, the concert kicked off with a performance by K'NAAN, including "Wavin'Flag," the Coca-Cola anthem for the 2010 FIFA World Cup that became a worldwide hit. The lineup also included emerging talent One Night Only, Grammy-nominated pop star Natasha Bedingfield and R&B artist Ne-Yo. Admission to the live concert at centennial Olympic Park in Atlanta was limited to Coca-Cola associates and their families.

Coca-Cola was created on May 8, 1886 in Atlanta, Georgia by Dr. John S. Pemberton and first served at Jacob's Pharmacy. On May 8,2011, Coca-Cola marked its 125th anniversary.