Business News

“Hi Hutch”, a one stop, fun activation portal for diverse VAS innovation and activations, now grants Hutch pre paid and post paid customers access to a dynamic and interactive new world of discovery and convenience.

The Commercial Bank of Ceylon has won double honours for its commitment to the community from the Chief Marketing Officer (CMO) Asia Council, which has presented Sri Lanka’s largest private bank with two prestigious international awards.

Odel PLC has reported sales of Rs 1,096 million for the first quarter of 2014-15, an increase of 13.5 per cent over the corresponding quarter of the previous year.

The Commercial Bank of Ceylon recently extended its support to another 200 entrepreneurs of the Northern Province by providing them with valuable information on developing their businesses, at three programmes.

SriLankan Airlines, Chairman Mr.Nishantha Wickremasinghe has been appointed the Chairman of APOT. Asia (Asia Pacific On-board Travel) from August this year. He will be taking over from Ms. Heather Cho, Senior Vice President of Korean Air Lines Co. Ltd.

Shopping has begun in earnest at Arpico Supercentres and Arpico Daily supermarkets as holders of Arpico Privilege Cards accumulate winning chances for the 2014 Arpico Supercentre Privilege Family Beach Holiday for 50 families.

Following a series of successful and innovative product developments, Prima Stella Instant Noodles re launched its favourite chicken flavor along with a vegetable sachet, targeting the entire family and guaranteed to thrill the taste buds of all noodle lovers.

The new product was recently revealed for the first time at a grand unveiling that took place at Hotel TajSamudra , Colombo, to a large gathering of media, food lovers and the senior management of Prima. The new Prima Stella range is endorsed by the world-famous cricketer Kumar Sangakkara, who joined hands with Prima Stella to take on the role of brand ambassador for the next three years.

Having thrown one of the hottest parties of 2013 with the AXE Provoke Fallen Angels night, AXE is all set to outdo itself with the AXE Blast 2014 - the biggest blast of the year.

The prestigious Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a tremendous boost recently with the Colombo Stock Exchange (CSE) coming onboard to power the event with a strategic partnership.

The golden jubilee anniversary of the Annual Report Awards competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received renewed support for a third year straight from Lanka Ratings Agency Limited (LRA).

LRA, formerly known as RAM Ratings (Lanka) Limited will be the event sponsor once again at this year’s Annual Report Awards which rewards excellence in annual reporting.

Welcoming LRA onboard, Mr. Arjuna Herath, President of CA Sri Lanka, emphasized that securing the support of one of Sri Lanka’s leading credit rating agencies was indeed testament to the event’s stature which has over a period of 50 years enhanced the transparency, accountability and good governance among corporates in Sri Lanka.

“CA Sri Lanka is pleased to have onboard LRA for a third consecutive year to power out prestigious Annual Report Awards competition, which is undoubtedly one of the country’s most looked forward to corporate level events. Securing the support of LRA for three years straight also shows the event’s significance,” Mr. Herath said.

Mr. Herath also noted that CA Sri Lanka has been very focused in recognizing the corporates producing best annual reports that adhere to good principles and best practices which allows to create a more responsible and accountable corporate world ensuring sustainable growth of not only the corporate entities but the country as a whole.

Mr. Preethi Jayawardena, Chairman of LRA noted that with its affiliation with CRISIL India, a Standard &Poor’s Company, LRA is happy to be associated with CA Sri Lanka for its prestigious 50th anniversary celebrations of the Annual Reports Awards ceremony which enhances corporate governance standards in Sri Lanka.

Mr. Adrian Perera, Managing Director/CEO of LRA said,“We have been associating with CA Sri Lanka for the past two years,this is our third year in a row in our journey towards better corporate reporting culture which will help the capital market to be at par with developed countries.”

Registration for this year’s competition is currently open and awards will be presented under 23 categories which will include a main winner and two runners up under each category.

Mr. Tishan Subasinghe, Chairman of the Annual Report Awards Committee 2014 noted that the Annual Report Awards competition has been instrumental in shaping the quality of annual reporting of corporates to the highest standards, taking financial reporting to a whole new level in Sri Lanka. He disclosed that this year year's competition has updated the checklists to absorb new changes to the accounting standards, while some marks have been re-allocated in recognizing the importance of certain disclosure.

Caption – (L-R) - Mr. Aruna Alwis, Secretary/CEO – CA Sri Lanka; Mr. Tishan Subasinghe, Chairman – Annual Report Awards; Mr. Lasantha Wickremasinghe, Vice President – CA Sri Lanka; Mr. Arjuna Herath, President – CA Sri Lanka; Mr. Preethi Jayawardena, Chairman - LRA; Dr. Dayanath Jayasuriya, Chairman of the Rating Committee – LRA; Mr. Adrian Perera, Managing Director / CEO – LRA; and Mr. Anas Mowshook, Assistant Manager – Finance & Compliance – LRA.

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