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Asian Tribune is published by E-LANKA MEDIA(PVT)Ltd. Vol. 20 No. 81

News

Sri Lanka JKH records 22% increase in net profits in 1Q

By Ashwin Hemmathagama – Our Financial Correspondent

John Keells Holdings Ltd. (JKH) has recorded 22 per cent increase in net profits during the 1Q of FY2006/07, from Rs. 447.6 million to Rs. 544.6 million. This growth has been supported by the 19 per cent increase in revenue during the period in focus from Rs. 6.36 billion to Rs. 7.57 billion. According to JKH Chairman Susantha C. Ratnayake a better business environment is considered as an essential for company’s success. “It is imperative that the relevant stakeholders work towards a consensus to achieve a negotiated political solution to the ethnic conflict. We cannot but emphasize the importance of peace for the long term growth and competitiveness of Sri Lanka,” he stated issuing a press release.

Nexus launches Double Points Promotion

Sunil C. Perera - Reporting from Colombo

Nexus, Sri Lanka’s premier loyalty card programme with over 71,000 members, inclusive of the Amex cardholder base across the country, on Thursday launched the ‘Nexus Double Points Promotion’ for the third consecutive year. Operative between 01st August and 30th September 2006, the Nexus Double Points Promotion entitles card holders to win double the number of points when purchasing at selected partner outlets. Manager Operations of Nexus Networks (Pvt) Ltd Priyanga Dassanayake said, “We’ve been carrying out this very successful promotion consecutively for the past two years. It has turned out to be the most popular such promotion among the Nexus card holder base. Furthermore, all Amex card holders will also be entitled to this offer whereby they will automatically receive double points on their Amex Cards”.

LTTE continues to cut off water supply, mainly to the Tamil people

The Sri Lankan government is stepping up its diplomatic activity to put pressure on the LTTE to open the Mawilaru Anicut (irrigation channel) – a primary source that provides water to over 1,500 people in the Trincomalee District. The LTTE closed the anicut on July 20 cutting of water supplies to the people, most of whom are Tamils

LTTE Claymore attack continues: A Civilian and an Army Soldier killed in Jaffna

Suspected cadres belong to the Tamil rebel outfit, Liberation Tiger of Tamil Eelam, triggered claymore bombs this morning in two separate incidents in the Jaffna district, killing a Tamil civilian riding a motor cycle and a Sri Lanka Army soldier. In the first incident, LTTE cadres exploded claymore mine near Nilavarai Deep-well located on the Puttur – Punnalaikattuvan Road, today at 3.50 a.m, killing Mariathas Manojanraj, (23) who was on his way from Atchchuvely to Jaffna.

Sri Lanka's Muslim peace secretariat in crisis

By Munza Mushtaq

Differences of opinion with regard to the role and function of the Peace Secretariat for Muslims (PSM) has led to the resignation of its Secretary General Javid Yusuf. The PSM was set up to bring together all Muslim parties and political formations in order to be a 'one decisive Muslim voice in the Peace Process.' The role of the secretariat was to make sure that all shades of Muslim political opinions were reflected and for the PSM to carry out the responsibility of running the Secretariat, which was also meant to have an image independent of the constituent parties the Sri Lanka Muslim Congress (SLMC) and the National Unity Alliance (NUA) in the PSM.

Cargills riding high in all sectors of its business ventures

By Quintus Perera – Asian Tribune

Cargills (Ceylon) Ltd adopts a novel farmer out-grower system and buying process completely new to Sri Lanka which while helping the farmers and the consumers are making great strides forward in the turnover, profits and recruitment of a large number of youth, making a special effort on rural youth. Presenting the Annual Report 2005/06 of the Company, Anthony A Page, and Chairman indicates the Cargills Group has achieved a turnover of Rs 14.2 Billion reflecting a growth of 33 percent over the previous year turnover of Rs 10.7 Billion. The Company achieved a turnover of Rs 8.2 billion which reflects a growth of 12 percent over the previous year’s turnover of Rs 7.3 billion.

Norwegian envoy to arrive to salvage Sri Lanka Monitoring Mission

By Our Colomob Correspondent

BauerNorwegian special envoy Jon Hanssen Bauer will arrive in the island This week to salvage the ceasefire monitoring mission from an impending collapse after the Tamil Tigers insisted on the removal of the EU nationals from the SLMM. Hanssen Bauer will meet the government officials, SLMM and travel to Kilinochchi for talks with the LTTE leadership. "Thrust of his visit is to mediate a solution to the current stalemate over the future operations of the SLMM," said Sri Lankan government's Defence Affairs spokesman and Minister Keheliya Rambukwella.

"Can use biogas as a fuel" - Biogas Expert

Sunil C.Perera - Reporting from Colombo

A Sri Lankan bio-energy expert Parakrama Jayasingha says Sri Lanka can produce sufficient biogas quantity to meet the present transport fuel needs. He said biogas is a mixture of methane, carbon dioxide and traces of other gases .carbon dioxide and the trace gases could be removed by simple process.“Methane gas thus produced is very similar to ‘Natural gas ‘used in many countries for many different applications including transport vehicles.

Seirra declares 5 percent dividend as post tax profit increases by 56 percent

By Quintus Perera – Asian Tribune

Seirra Cables Ltd has made great strides during the year under review with turnover growth of 38 percent from Rs 752 million in 2005 to Rs 1,038 million in 2006. After acquiring Alucop Cables Ltd four years ago Seirra had humble beginnings with a market share of only 7 percent but today the share has climbed to 20 percent by 2005. Priyantha Perera, Chairman, Seirra in the Annual Report of the Company indicated the post tax profits reflected a 56 percent increase from Rs 64 million a year ago to Rs 100 million during the year under review.

23rd March 2006 – 1st July 2006 : Hundred day protest and hunger strike against the Coca-Cola Company

By Nandlal Master

For the past four years, Lok Samiti and the local community have been organizing a struggle against the Coca-cola bottling plant in Mehndiganj with solidarity and support from the National Alliance of Peoples movement and other groups. So far,we have demonstrated before the Coca-Cola bottling plant, the district headquarters, the pollution control board and the government assembly house. We have met with representatives from district to central government and have explained the impact of the plant in the community but no action has been taken so far.

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