Daily News Online

Thursday, 16 February 2012


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Access Engineering in Rs 500 m IPO

To enhance capacity, broadbase ownership:

Access Engineering Limited will float an initial public offering of 20 million new shares at Rs. 25 each amounting to a total of Rs. 500 million (at the same price private placement shares were issued) which will be a 2% stake in the post IPO stated capital. Access has already got approval from the Securities and Exchange Commission as well by from the Colombo Stock Exchange for this. The issue opens on March 6, and will close on March 9 unless already over subscribed. The company also raised Rs. 4,500 million in June 2010, with a private placement recently.

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Richard Pieris records 9 months turnover of Rs 23 b

Group operating profit Rs 2.8 billion:

The Richard Pieris Group ended its first nine months with a strong growth of 95% in Operating Profits of all its sectors other than the plantation sector. The nine months ended 31st December 2011 evidenced a steady growth of the Group’s Retail, Plastic and Rubber Sectors and the Group is well poised to achieve its targets during the year with plans underway for an aggressive expansion of its large format super market retail outlets and diversification plans into the financial services sector.

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Govt hospitals to go paperless with HHIMS

For the first time in the history of the Sri Lankan health sector, government hospitals will go paperless with the newly developed Hospital Health Information Management System (HHIMS). Accordingly, doctors in government hospitals will have the opportunity to see a patient’s comprehensive medical records on their computer screen.

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Tourism industry niche suppliers neglected?: The niche suppliers of the Sri Lankan tourism industry, small businessmen who offer elephant rides and jungle safaris to the tourists, mask sellers, pillow lace (beeralu) makers and such, are a sadly neglected lot. They ply their respective trades unregulated by any authority, without adherence to any standards. An elephant ride and safari operator from Habarana, G.J.Prasanna, popularly known as
Ali Mahinda, operating two elephants, told Daily News Business, “I have obtained these two elephants from their owners on lease, and I have to pay Rs 230,000 per elephant per month to the owner. I have to supply food for the elephants, and that costs about Rs 7,000 per day. I have to pay the mahouts and their helpers (golayas) about another Rs 5,000 per day. “There are some unscrupulous elephant operators who do not feed their elephants properly. An elephant needs a large amount of food daily. If they are underfed, their health conditions will go down, and they will not be able to perform their work. The operator has to feed and pay the mahouts and their helpers at the end of the day. If they are not kept happy, they tend to do their work sloppily, or do not turn up for work at all. According to Prasanna, the hotels and the tour guides take the lion’s share of what the tourists pay to enjoy elephant rides and safari tours. “If we do not pay them what they demand, they can blacklist us and we will not get any tours at all,” he said. This lamentable state of affairs should be addressed by the government directly. If the tourists who visit Sri Lanka get an unfavourable impression of the country, the results will be extremely disastrous. Here some tourists taking rides and G.J.Prasanna (inset). JJ Pictures by Saliya Rupasinghe

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