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Monday, 27 February 2012

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Shangri-La Hotels to link region

Shangri-La Hotels and Resorts broke ground for its new hotel projects in Colombo last Friday as a part of its rapid global expansion plan. Subsequently they also laid the foundation stone on Saturday for Shangri-La’s Hambantota Resort and Spa on 145 acres in Hambantota. The Hambantota resort is due to open in 2014 and the two projects mark the entry of the hotel group into Sri Lanka.

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Access Engineering in Rs 500 m IPO

Access Engineering Limited , one of the leading construction and engineering companies in Sri Lanka recently announced its plan to go for a Rs 500 million Initial Public Offering (IPO) and will offer 20 million ordinary voting shares to the public at Rs 25 each . The company will go for a IPO to party finance the working capital requirement of housing projects to the value of Rs 3 billion undertaken by the company on behalf of the Urban Development Authority.

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Chevron Lubricant Lanka tops Rs 2 b profit

Chevron Lubricant Lanka Limited has recorded the highest profit so far exceeding Rs two billion for the first time since its inception in 1994. The company recorded Rs 2.116 billion profit after tax for the last financial year up from Rs 1.50 billion in 2010, a growth of 33 percent. The earnings per share also grew to reach Rs 16.67 in 2011 as against Rs 12.51 in 2010.

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Sajad Mawzoon, Director Shangri-La Investments Lanka (Pvt) Ltd, George Yong-Boon Yeo, Vice Chairman of Kerry Group,Kuok Khoon Ean, Chairman Shangri-La Asia, Speaker Chamal Rajapaksa, Namal Rajapaksa, MP and Chairman of the Hambantota District Development Committee, Madhu Ramachandra Rao, Executive Director, Shangri-La Asia observing the Shangri-La Hambantota Resorts and Spa geographical map.
Pictures by Nissanka Wijeratne and M. Irfan Zakariya, Hambantota Thinakaran Special Correspondent

Minister of Economic Development Basil Rajapaksa, Sino Lanka Hotels Holdings Director
Stefan Furkhan and Bob Kundanmal at the ground breaking ceremony
Picture by-Nissanka Wijeratne



 
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