BIZ- Briefs

FHA appoints new Chairman

The members of the Finance Houses Association of Sri Lanka (FHA) have elected Kamal J. Yatawara as its chairman for the year 2011/12. The organization has for many decades been at the forefront of the financial industry of the country having been led by many eminent business personalities who have done much to shape the financial landscape in Sri Lanka today.

Yatawara is a Director and the CEO of The Finance Company PLC.

ISMM evening seminar

The Institute of Supply and Materials Management is conducting an evening seminar under its Continuous Professional Development Programme on December 2 at the OPA Auditorium at Prof Stanley Wijesundera Mawatha, Colombo 7 from 6.00 p.m to 8.00 p.m

The guest speaker will be Mobitel (Pvt) Ltd. Senior General Manager, Corporate Planning and Marketing Janaka Jayalath. He will address the members and students of ISMM on "Social Media - the next wave".

AAFL IPO opens

Asia Asset Finance Ltd. (AAFL), a subsidiary of Asia Capital Group, opened its IPO for subscription on Monday. Chairman Daya Muthukumarana said, they find it unfortunate that a well managed and well performing company such as AAFL had to go in for an IPO based on regulatory requirements - even when market conditions are at an all time low.

"Negative sentiments on the stock market and declining market conditions are the principle reasons the IPO to not be oversubscribed on the day of the opening,but we are confident that it will be oversubscribed well within the given period," he said.