ADVERTORIAL

MTI Corporate Finance helps ICRA's launch

MTI Corporate Finance has successfully concluded a pioneering market entry assignment with ICRA Lanka, a wholly-owned subsidiary of India's rating giant ICRA Limited. MTI helped ICRA on pre-incorporation formalities facilitating to understand the market, the key participants and the regulators of the industry. Having identified the opportunity MTI further assisted ICRA to incorporate its Sri Lankan entity and to obtain the rating license from the Securities and Exchange Commission of Sri Lanka.

MTI is pleased on its contribution towards the development of Sri Lanka's capital markets while emphasizing the importance of investor confidence for such development which is strongly backed by credit rating of the investees.

According to ICRA Lanka director W Don Barnabas although Sri Lanka has a relatively developed equity market, the debt market is still in its infancy. There is great scope to develop this market, and that augurs well for the ratings business in Sri Lanka.

Commenting on the current status of the ratings business in that country, Barnabas further said that there is large scope to add to the width and depth of the ratings market in Sri Lanka.

MTI Corporate Finance is a subsidiary of global management consultancy MTI Consulting.

MTI Corporate Finance offers a full range of corporate Finance solutions in the major domains of corporate funding and IPOs, incorporations and Acquisitions, asset management, and governance and Compliancies.

The unit is backed by a team of corporate finance specialists with extensive experience in corporate finance and related finance solutions.

The Fortress wins two Asia Pacific Hotel Awards

The Fortress Resort and Spa in Koggala was recently crowned the winner of the "Best Small Hotel" category for Sri Lanka at the Asia Pacific Hotel Awards, one of the regional awards programmes associated with the International Hotel Awards.

The Fortress, which happens to be the Vallibel Group's primary luxury tourism property, also received a Highly Commended Award in the "Resort Hotel" category for Sri Lanka at the prestigious awards ceremony attended by hundreds of prominent hospitality industry professionals from the region.

Held on May 30 and 31 at the luxurious Longemont Hotel in Shanghai, China, the hotly-contested awards featured 13 categories for each country, with up to two of the most outstanding entries being given Highly Commended Awards, and the best overall entry being given a Five Star Award and re-judged to be shortlisted for the Best International Hotel Award for each category. Categories included those for all manner of different sized and specifically targeted hotels, as well as for the best hotel architecture, interior design, marketing and website.

The International Hotel Awards programme was launched this year in association with Bloomberg Television, having evolved from the long-established International Property Awards which were considered the definitive awards programme in the international tourism property sector. Judged by a panel of 20 experts chaired by the Sloane Club in London Managing Director Anthony Murkett the programme aims to identify and highlight the very best hotels and hospitality professionals across the globe, including boutique hotels like the Fortress.

Renowned for its unparalleled luxury and its reputation for attracting elite international guests, the Fortress has over 50 rooms and suites and has also been a frequent contender in the World Travel Awards, having been a nominee in the "Indian Ocean's Leading Hotel" and "Indian Ocean's Leading Luxury Resort" categories for three consecutive years including this year.

The picturesque resort is one of six hotels in Sri Lanka recognized by "Small Luxury Hotels of the World", a collection of over 520 luxury hotels with exclusive membership for patrons of luxury boutique hotels. The elegantly luxurious boutique hotel, inspired by the colonial Dutch architecture of the famous Galle Fort, is also a member of the Kiwi Collection, one of the leading collections of the best hotels, inns, lodges, camps and resorts catering to the refined international traveller.

Though already reputed for its legendary service standards and lavish yet understated modern decor, The Fortress continually seeks to better its facilities and has taken several steps to improve its already 5-star level amenities. Increasing its room inventory from 49 rooms to 53, the hotel also recently unveiled a new room category which was named "Beach Splash", with ground-floor rooms featuring private indoor plunge pools and daybeds.

Being a five minute drive away from the Koggala Lake which serves as a landing destination for the SriLankan Air Taxi service, The Fortress is now 30 minutes away from Colombo by seaplane for the hotel's exclusive guests who are flying into the island just for the Fortress experience.

"We are extremely honoured to be recognized by the Asia Pacific Hotel Awards, especially with the Five Star Award for Best Small Hotel in Sri Lanka," said The Fortress Managing Director Sumith Adhihetty.

"The Fortress has had a truly landmark year, having increased our number of rooms, maintained 65 percent occupancy and refined our service even further, and these awards have now put an even brighter international spotlight on our unique little resort. I believe these awards are well and truly deserved, and a testament of our team's hard work under the guidance of our esteemed directorate," he said.

"We are expecting great things for The Fortress in the upcoming year, including our occupancy levels to go up even further, and we are ready to deliver a level of service and luxury that will take the industry by storm," said The Fortress Resorts PLC and the Vallibel Group Chairman Dhammika Perera.

"Sri Lanka's potential for luxury tourism is indisputable and we are anticipating increasing demand for our most luxurious rooms in particular," he said. He went on to say that The Fortress is undeniably amongst the greatest treasures of the Sri Lankan hotel industry and that the Vallibel Group is poised to take it to even greater heights.

Metropolitan introduces Intex Nano

Low radiation, smart, sleek and full of features, the new Intex Nano is the newest and trendiest mobile phone in Sri Lanka but also one of the most feature rich mobile phones available at a very affordable price.

"The Intex Nano is a dual sim phone with one of the lowest radiation levels found in Mobile phones today. It has unique features such as SMS lock where all SMSs received can be locked and accessed only through a password. The same applies to the phone book where all numbers can be locked and accessed only through a password. The built in mobile tracker enables you to track your phone even if it is lost. It also has a video and audio player where you can watch videos and listen to your favourite music. The Nano also consists of a torch, FM radio and a long last battery with a stand by time of five hours and also a camera," said Operations Head Nalaka Dharmasuriya.

He also said that the phone comes with a Metropolitan warranty of one year which is even extended to cover the accessories such as the power adaptor and the hands free unit which in fact is a unique offer.

This warranty amply demonstrates the commitment of Metropolitan in protecting the investment of the users.

Metropolitan Telecom Services (Pvt) Ltd, a subsidiary specializing in mobile solutions of the Metropolitan Group, introduced the Intex range of mobile phones in Sri Lanka recently.

During the next month two new models will be introduced with unique features at a very affordable price which is going to be a hallmark for Intex phones.

Panasian power expands in power sector

Delivering their promise made at the Initial Public Offering, the Board of Directors of Panasian Power PLC has taken a decision to add another 6.5 Megawatts to their current 4.4 Megawatts (produced presently by the company's hydro power plants in Rathganga and Walapane).

This additional capacity of 6.5 Megawatts is presently owned by Power Hub International SDN BHD, a Malaysian based conglomerate, with their hydro power plant situated in Padiyapelalla in the Central Province of Sri Lanka.

The Padiyapelalla power plant Phase - I is nearing completion and will contribute 3.5 Mega Watts to the National Grid from January 2012. In addition, Padiyapelalla has already signed another power purchase agreement for Phase II - 3.0 Mega Watts. Panasian Power PLC, under the stewardship of Dr. P. Ramanujan and its Board of Directors are on a strategic development drive with the company's new stakeholders adding vigour to the growth in a bid to revitalize and maximise potential of the industry.

The company stands dedicated to increase its capacity and transform into a major player in the power sector.

"We have signed a MOU with Power Hub International SDN BHD to complete the Padiyapelalla transaction subject to a valuation by a reputed bank and share holder approval," Dr. P. Ramanujan said.

Dilith Jayaweera, Joint Managing Director of Emagewise, Director of Citrus Leisure PLC and Director of Colombo Land PLC has been appointed a Director of Panasian Power PLC with effect from June 13.

Maliban Milk launches Hi-Cal Gold

Indunil Hewage

Maliban Milk Products (Pvt) Limited recently introduced Maliban Hi-Cal Gold non-fat milk powder to the Sri Lankan market.

Maliban Hi-Cal Gold non-fat milk powder contains 100 percent milk calcium which is a trusted source of calcium.

The newly introduced milk powder helps to have strong and healthy bones by providing calcium and non-fat milk to the body.

"There are two types of calcium in non-fat milk, either inorganic slats, such as calcium chloride, Calcium Carbonate or Calcium Phosphate with their inherent side effects or organic salts such as Calcium Lactate, Calcium Gluconate or Tricalcium Citrate.

The best source of calcium in milk is milk calcium. Unlike the organic salts, the organic milk calcium has good solubility and is well absorbed to the body," Maliban Milk Products (Pvt) Limited CEO Lakshman Weerasuriya said.