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Colombo Pharmacy opens state-of-the-art pharmacy

The Colombo Pharmacy Company PLC, a subsidiary of Environmental Resources Investment PLC (ERI) opened it's newly designed state-of-the-art pharmacy recently. Attended by the Board of Directors, invitees and staff members it was a moment of pride for the ninety eight year old company to see its development plans come to fruition under the new management.

Colombo Pharmacy was acquired by ERI a little over a year ago and has demonstrated its significant potential in the fast growing health care and pharmaceutical sector by revamping the pharmacy at Union Place into a modern state-of-the-art facility. The modern interior only compliments the expertise of the almost 100 year old company where a wealth of knowledge and experience is retained by way of their dedicated long standing staff in servicing their valuable customers.

"We are delighted on the occasion of the opening of the re-designed Colombo Pharmacy just next door to its original location. This development was one of the first strategic actions we worked on seeing the potential that the pharmacy has for growth. We are very optimistic of the long term positive results that the current developments would bring" said Lalith Heengama, Chairman, ERI. "We look forward to completing the rest of the refurbishment by March 2012 which will see the opening of flagship stores of some of the group companies namely, Dankotuwa Porcelain PLC and Ceylon Leather Products PLC and a service centre of DNH Financial. The complex will also have an outdoor restaurant and many other attractive features" he further added.

"I am privileged to be a part of this strategic development of the Colombo Pharmacy PLC and take pride along with my colleagues in seeing this project to completion." said Nilushi Kasturiarachchi, the recently appointed General Manager of the Colombo Pharmacy.

The state-of-the-art pharmacy was entirely done under the expert professional design and direction of reputed Chartered Architects 'Design Cues'.

Colombo Pharmacy PLC owns and operates City Dispensary and IC Drugs Pharmacies and is one of the oldest public quoted companies in the Pharmaceutical trade in Sri Lanka. Colombo Pharmacy has served both customers as well as the medical profession with reliability, dependability and excellence for almost 100 years. The pharmacies have become a household name amongst both the medical profession as well as consumers with their endeavor to be the most caring and dependable pharmacies in Sri Lanka.

The parent company ERI is known for identifying growth opportunities and companies with a significant potential to grow in the manufacturing, IT/infrastructure, financial and other strategic sectors.

ERI constantly strives to be a socially responsible business entity which firmly believes in the positive and far-reaching effects of good governance policies and provides financial management, strategic guidance and strong management discipline to help make good companies even better.

Architect 2012 opens

The preeminent and most popular exhibition of architecture and construction in the country, the Members’ Work and Trade Exhibition of the Sri Lanka Institute of Architects (SLIA) was opened on the 22nd of February 2012 at the Bandaranaike Memorial International Conference Hall (BMICH). The general public will be able to visit the exhibition from the 23rd of February till the 26th of February between 10am and 10 pm.

The opening of the Members’ Work and Trade Exhibition was held soon after the Inauguration Ceremony of ‘Architect 2012’, the Annual Sessions of SLIA. Two of the international delegates present were Jan Gehl from Denmark, an expert in city planning and renowned Architect, Prof. Frans van der Werf from Netherlands.

This year's Annual Sessions is based on the theme: “Regenerating Sri Lanka, the Architect and the Built Environment”. An awards scheme recognized the best stalls at the Members’ Work and Trade Exhibition.

Begun in 1983, the Members’ Work and Trade Exhibition has continuously grown from strength to strength annually, and the 29th exhibition this year is expected to see its popularity and significance increasing further. Based on last year's turnout, more than 70,000 visitors are estimated to attend this year's Exhibition. The 380 stalls this year display the work of architects, students and also the products and services of construction companies.

The public is able to access various products related to the construction industry including eco-friendly, residential and commercial products, as well as items for landscaping, bathrooms and interiors, which were locally and internationally produced. Visitors can also experience several new technologies available in the market.

In addition, the exhibition displays the work of 90 architectural firms.

The displays also include the creations and course work of the students of the University of Moratuwa and the City School of Architecture.

Outlining the objective of the Members’ Work and Trade Exhibition, Archt. Ranjan Nadesapillai, President of the SLIA said, “The exhibition is targeted at the general public of Sri Lanka and it is expected to create awareness regarding the importance of any construction being built with the assistance and consultation of those who are qualified.”

One of the highlights at the exhibition is the Information Centre run by SLIA. Here, visitors are given the opportunity to learn about the the practice of architecture and its significance. The Centre will sell publications by the SLIA and acts as a resource hub to young people who wish to pursue architecture as a profession.

In addition to the Members’ Work and Trade Exhibition, the 30th Annual Sessions of SLIA includes a grand Inauguration Ceremony (which took place on the 22nd of February at BMICH), the National Conference (23rd of February at BMICH), the Annual General Meeting (25th of February at BMICH) and the Fellowship Nite (25th of February at Galadari Hotel) for a festive closing.

Alumex, being SLIA's Strategic Sponsor for the year 2011/2012, is the main sponsor for ‘Architect 2012'.

More ComBank schols for undergrads

Twenty five Sri Lankan undergraduates have received assistance and motivation to pursue their future aspirations from the Commercial Bank of Ceylon, as part the Bank’s CSR Trust’s ‘ Sarasaviyata Nawa Saviyak ’ community initiative to support worthy undergraduates.

The latest scholarship presentation, the fifth such programme by the CSR Trust of the Bank, saw the disbursement of over Rs 2 million in scholarship grants.

Expanding its commitment this year, the Bank also presented laptops valued at Rs 1.8 million to each of the 25 undergraduates.

Of the 25 undergraduates chosen for scholarships this year, 10 were from the Faculty of Medicine of the University of Peradeniya, nine were from the Faculty of Management and Commerce of the University of Sri Jayewardenepura and six were from the Faculty of Management and Finance of the University of Colombo. These undergraduates were mostly from outstation areas.

The chosen undergraduates studying medicine will each receive Rs 25,000 per year over the five-year period of their degree while their counterparts studying Management and Commerce and Management and Finance will receive Rs 25,000 per year over a four-year period.

Minister of Higher Education S. B. Dissanayake who was the Chief Guest said the commitment of the Commercial Bank to higher education through this scholarships scheme is greatly appreciated by the government. Elaborating on current developments in the field of higher education, he emphasised the importance of IT education for undergraduates to bring Sri Lankan universities within the top 1000 universities in the world.

Commercial Bank Chairman Dinesh Weerakkody pointed out that social responsibility is as important a factor in the sustainability of business as financial performance.

The Commercial Bank recognizes its responsibility to lend its strength to undergraduates to help them face the challenges of becoming skilled members of the future work force of the country, he said.

Commenting on the opportunities for the future, he said the Business Process Outsourcing (BPO) industry in India has grown to US$ 88 billion, and the challenge for Sri Lanka was to invest heavily in the training of the work force to acquire the skills to compete in the BPO space.

Recipients of this year’s scholarships were identified with the assistance of the University Grants Commission (UGC). Being ineligible for Mahapola or any other scholarship programme, the number of attempts made at the GCE A/L examination, the number of school-going children in the family, parental income and the distance between the university and the student’s home are some of the factors that are taken into consideration in identifying recipients.

Besides financial assistance to undergraduates, the Commercial Bank also has a reward scheme for deserving younger students.

All holders of the Bank’s Arunalu minors’ accounts who excel at the year 5 scholarship examination every year are rewarded with valuable cash prizes.

The Commercial Bank’s CSR Trust was established in 2004 and presently focuses mainly on projects aimed at uplifting standards of IT and English education.

The trust commenced with a start up capital of Rs. 25 million and the bank contributes up to 1% of its profits every year.

CDIC launches new business plan

Vajira Kulatilaka

Ashok Pathirage

The board of directors of Capital Development and Investment Company (CDIC) approved a new business plan to position itself as a diversified financial services conglomerate with ultimate exposure to investment banking (both regionally and in Sri Lanka), stockbroking, wealth management, private equity investments and insurance sectors. With the aforementioned diversification, CDIC will be placed in a unique position to attract investors who are seeking exposure to finance sector both locally and regionally. According to the new business plan, CDIC will acquire 100% ownership of NDB Investment Bank and NDB Stockbrokers from National Development Bank PLC (NDB) which will complement its existing strategic investments in NDB Aviva Wealth Management and Aviva NDB Insurance PLC. The above acquisitions would be made subject to regulatory approvals. CDIC plans to float a private equity firm and also explore strategic investment opportunities in the region in the finance/banking sector. CDIC would seek collaborations with global and regional partners to implement the above plan. CDIC is 99.6% owned by NDB.

In addition, the board appointed Mr. Ashok Pathirage and Mr. Vajira Kulatilaka as the Chairman and Chief Executive Officer of the Company respectively. Pathirage is the Deputy Chairman of NDB and is one of the leading entrepreneurs in the country. He is the chairman of Softlogic Group, Uniwalkers, Softlogic Finance and Chairman/Managing Director of Asiri Group of Hospitals.

Kulatilaka is presently the CEO of the NDB Investment Banking Cluster and was instrumental in developing the investment banking business of the NDB Group. Mr. Kulatilaka is a director of the Colombo Stock Exchange and several companies of NDB Group.