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| Tuesday, 23 November 2004 |
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Business in brief Indices down at Bourse The All Share Price Index (ASPI) which opened yesterday at 1485.2 points closed at 1479.1 points while the Milanka Price Index (MPI) which opened at 2091.8 points closed at 2087.5 points. A total turnover of Rs. 47.1 million was recorded. A total of 1,044 trades were concluded with a share volume of 2.7 million shares being traded. Foreign investors were net sellers with purchases of Rs. 2.6 million and sales of Rs. 6.8 million. The top gaining sectors included Investment Trust, Telecommunications, Health Care and Motors while the top losers included Trading, Footwear and Textiles, Construction and Engineering and Beverages Food and Tobacco. ICASL international workshop on Corporate Governance on Dec 3-4 The Institute of Chartered Accountants of Sri Lanka (ICASL) and the South Asian Federation of Accountants (SAFA) will conduct an international conference and workshop on Corporate Governance for ICASL members, professionals, business leaders, capital market players, corporate governance activists, regulators and business executives, in the SAARC region. The two-day event will be held on December 3 and 4 at the Trans Asia Hotel, and is intended to provide participants with a broader picture on its theme - "Challenges of Implementation," the Institute said this week. The workshop will consist of three technical sessions, Implementing good Corporate Governance practices through Legislation and Regulation; Implementing good Corporate Governance practices through Market Demand and implementing good Corporate Governance practices through Awareness, Education and Training. The World Bank's - Head of Corporate Governance Anne Simpson will deliver the keynote address at the workshop and eminent business leaders from the SAARC countries will discuss implementation and other issues related to Codes of Corporate Governance. Serendib Horticulture wins three national business excellence awards Serendib Horticulture Technologies (Pvt) Ltd., won three awards at the recently concluded National Business Excellence Awards 2004, conducted by the National Chamber of Commerce. The awards are: Best Company Agriculture, Fisheries, Livestock, Mining and Quarrying Sector, Best Company Small Industries Sector, Best Performance - Global Reach. The panel of judges included, Prof. Gunapala Nanayakkara, Director, PGIM, University of Sri Jayawardhanapura, Peter Harrold, World Bank Country Director, Eraj Wijesinghe, Chairman Bartleet Group, Ratna Sivarathnam, Chairman EDB and Prof. Lakshman Watawala. The Company which is into the export of ornamental plants to many countries also owns the biggest and the most successful tissue culture laboratory producing ornamental and fruit plants. Serendib Horticulture Technologies have also formed joint ventures with foreign collaboration, utilising its technical expertise to bring in valuable foreign exchange to the country. Singer wins three awards at business excellence awards Singer Sri Lanka won recognition at the inaugural National Business Excellence Awards held recently by becoming winner in two categories and runner-up in a third. Singer won the Award for the Excellence in Block Buster Company where performance was evaluated against the industry, and the Excellence Business Award in Trading. The Company was runner-up in the Award for the Best Knowledge Integrator. The Awards were conducted by the National Chamber of Commerce of Sri Lanka (NCCSL) to recognise the business organisations making a significant contribution to the socio-economic development of the country through exemplary business practices. Singer Sri Lanka competed in the large category where the number of employees exceed 500 and the annual turnover is between Rs. 500 million and Rs. 2.5 billion. The total capital employed had to be between Rs 250 million - 2.5 billion. This was the third time this year that Singer Sri Lanka gained recognition for significant achievements. Earlier, the Singer Annual Report and Accounts for 2003 was adjudged the Best Annual Report in the category, Non-group Quoted Companies by the Institute of Chartered Accountants of Sri Lanka. The Company's Service Division was awarded the ISO 9001:2000 certification gaining recognition for its quality management systems at the Singer Service Centres in Colombo, Kandy, Anuradhapura and Matara. Commenting on the Business Excellence Awards, a spokesman for Singer Sri Lanka said that it was significant that Singer won an award in each of the three categories where the company was in the final list of nominees. In the Trading category, Singer vied for the award with Diesel and Motor Engineering Company and Hameedia Group while in Excellence in Block Buster Performance, the other nominee was Chemanex Adhesives Ltd. The two nominees for Best Knowledge Integrator Performance were Singer and Royal Ceramics Lanka Ltd. The panel of judges comprised Prof. Gunapala Nanayakkara, Peter Harrod, Country Director-World Bank, Eraj Wijesinghe, Chairman-Bartleets Group, Ratna Sivaratnam, Chairman, EDB and Prof. Lakshman Watawala, Deputy Chairman/Executive Director-Singapore Informatics. |
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