Financial Times

HNB to sponsor Future World Leaders’ Conference
Over 150 student leaders from approximately 28 leading schools in Colombo, Kandy and Kurunegala will assemble on Saturday April 26, in Colombo for the first Sri Lankan Future World Leaders Conference a press release said. Hatton National Bank is the partner in progress and sponsor of this unique conference of the future business and corporate leaders of Sri Lanka.

The Future World Leaders Summit in Washington DC organized by Presidential Classroom Inc USA is the leading non-governmental civic education platform in USA. It was introduced in 1996 as part of an International Relations Program to promote among teenagers careers in Diplomacy, International Relations, International Law and World Economics. Presidential Classroom Inc was established in 1968 in Washington D C and since then over 100,000 students have participated in these civic education programs that give them credit for admission and scholarships to most American Universities. Sri Lankan, Ananda Rajapakse, is the Hony. South Asia Representative for Presidential Classroom Inc.

This International youth summit is held at the prestigious Georgetown University in Washington DC the capital of America. Sri Lankans have been participating in this Future World Leaders Summit as a full country delegation since the year 2000. Up to now 100 student leaders have attended this summit and over 30 of them are now studying with scholarships in American, British and Australian Universities. Details of the summit and the delegates from Sri Lanka who have participated and excelled in the past is on the web at www.futureworldleader.org.

"This is a real teen conference where over 30 teenagers will speak as panelists as against 3 adult speakers'', says Rochelle Melder; US trained Volunteer Instructor for the Future World Leaders Summit program and a long-standing teacher at Asian International School who is the Conference Supervisor. 18-year-old Stasshani Jaywaradena of Colombo International School and daughter of Harry Jayawardena one of Sri Lanka's outstanding corporate leaders will chair this one-day conference. The conference Secretary is 19-year-old Kamilka Malwatte of Visaka Vidyalaya daughter of Hiran Malwatte former Royal College Rugby Cap, Ex Army Officer and current HR Manager of MJF Group, makers of Dilmah Tea, the sponsor of Sri Lankan Cricket Team. Kamilka was placed all island first in Arts stream GCE AL exam last year and has been admitted on a full scholarship to Harward University in USA from this September. Stasshani joins a well-known British College this September for her higher studies. They are two of 100 Sri Lankan Future World Leaders Summit delegates who have had the "Washington Experience" at a very young age that has helped shape their career goals to become future corporate leaders of Sri Lanka.

The 1st Sri Lankan Future World Leaders conference is for those student leaders who have participated in this summit to share their experience and knowledge gained in Washington DC with Sri Lankan students who wish to participate in future summits. Azam Bakeer Markar son of Hon Imthiaz Bakeer Markar, Minister of Mass Communication and Anisha Perera and daughter of Mahen Perera, a Past President of Sri Lanka Institute of Marketing, who were former delegates to this summit in 2001 and now studying in British universities have arrived in Sri Lanka to share their experiences at this conference.

Students aged 16 to 19, their parents and school heads who are keen to learn about the Future world Leaders Summit are invited to participate in this conference. Registration forms are available from the Presidential Classroom South Asia Office Office at No. 140, Stanley Thilekeratne Mawatha, Nugegoda on weekdays between 8.00am and 8.00pm, by telephone on 820246/0777-379359 or email at furureworldleader@eureka.lk.

Sathosa Motors achieve better results
During the financial year 2001/2002, the company faced a set back and ended up with an operational loss of Rs 7.6 million before tax. This was mainly brought about as a result of the company deciding to make specific write offs amounting Rs 8.0 million on non-moving stocks accumulated over the years and increasing the debtors' provision by Rs 0.2 million a press release said. Hence, the loss of Rs 7.6 million should have been read in that back ground, and on the other hand, if we did not write off these amounts we would have had an operational net profit of Rs 0.6 million.

The drop in sales was mainly due to the adverse situation which arose due to the terrorist attack at the country's main airport at Katunayaka some tome back and the terrorist attack at the U.S. World Trade Centre affecting the global economy and above all, the uncertain political and economic environment which lead to the down turn of economy to a below zero level GDP.

The SML which had a favourable market share with the government sector suffered severely when the newly appointed government went on a cost cutting exercise and adopted a policy of hiring of vehicles instead of purchasing them. The turnover during the 9 months ended 31/12/02 dropped to Rs 246 million and the number of vehicles sold were reduced.

However, as compared to the previous financial year during the 9 months ending 31/12/02, showed profitability despite the fact that economic conditions were not conducive. By prudent management, SML was able to bring about a change and convert the company to a profitable venture.

The company took stringent measures to curtail unwanted expenditure, control over the finances and inventory and close monitoring of debt recoveries, while every effort was made to give a better service to the customers.

We felt that customer care and after sales services were very important and we instilled this fact into the employees through regular training sessions.

Within regulatory systems, we brought about a reduction in staff as some redundant jobs were not replaced. All these factors have contributed to a rejuvenated business environment.

The first 9 months of financial year 2002/2003, Sathosa Motors Ltd., achieved a pre tax profit of Rs 8.0 million and in the month of January 2003 achieved a pre tax profit of Rs 4.0 million making a total of Rs 12.0 million for the 10 months.

The Management expects the total pre tax profit for the 12 months of 2002/2003 to be Rs 20.0 million, thus bringing the organisation to a forward march. Of course, this could be achieved, if peace process continues and an economic condition conducive for business remains in the future.

Perth Paradise ready to welcome occupants
Housing and Construction Lanka (Pvt) Ltd. (HCLPL) a wholly owned subsidiary of ansals, a renowned township developer from India has concluded the first phase of its maiden housing project in Sri Lanka a press release said.

Opening doors for potential residents to enjoy their very own "Ansals Perth Paradise'' is situated along the Colombo-Ratnapura highway at a 40 km distance through Kottawa, Piliyandala, Panadura access roads from Colombo, near Horana. The 800 acre land extent earmarked by (HCLPL) is also ideally located in front of the Bodyline factory complex and a short distance from the proposed 450-acre BOI Export Processing Zone.

The first phase of Perth Pradise consists of 105 acres of beautiful countryside developed for habitation. This is a part of a self-contained futuristic mega city to be spread over 800 acres complete with road, utilities & infrastructure. Perth Paradise a BOI (Board of Investment) project has many types of expandable houses to offer in sizes varying from 7 to 22 perches. Not only that, if you want to build your dream home yourself or invest for future purposes you can also buy plotted land for building a house of one's choice. The prices range from Rs. 250,000/- upwards for plots and Rs. 750,000/- for houses with attractive payment plans, and cash down discounts. "Basically we've done everything needed to provide for comfortable lifestyle. All one has to do is purchase the house and start enjoying the pleasures that Perth Paradise has to offer'' explained Arun Singh, Deputy General Manager ( Sales).

Most of the infrastructure facilities have also been completed.

These include wide well-lit tree lined roads, landscaped gardens and play grounds, underground sewerage disposal systems, power, water supply and security. Work is expected to begin on other facilities like supermarket, commercial complex, club and amusement park as the occupation begins to grow.

As a self-contained facility designed by internationally acclaimed architects and engineers, Perth Paradise can be considered a true paradise with beautiful scenery and spacious pollution free environment, for a calm and quiet lifestyle.

Developers HCLPL is part of the well-known Ansal group having successfully completed over 55 residential & commercial projects in different cities of India.

The company also possesses a wide range of development capability comprising residential cities, condominiums, commercial complexes, hotels, colleges, and other high-tech projects; in India, Russia, Iraq, Thailand, Bangladesh and Bangkok.

Singithi marathon race to "stop child labour"
All Island marathon run was organized by Hatton National Bank in collaboration with the Department of Probation and Child Care Services to prevent child labour in the country.

This marathon was held at 10 locations around the country. A large number of students both male and female from schools around the country, participated at this event. The Colombo marathon was commenced from Bambalapitiya (opposite HNB Bambalapitiya Branch) and terminated opposite Taj Samudra at Galle Face Green. More than 750 students took part in and around the Colombo Schools.

The winners were awarded with certificates and trophies with cash prizes. A large number of Parents, National Sports Stars, Officials from Sports Ministry, Senior Officers from Dept. of Probation and Child Care Services were among the witnesses at this event.

Singapore Airlines introduces new KrisWorld facility for children
Families travelling with young children on Singapore Airlines (SIA) can now make use of a new facility that enables parents to select the type of movies that their children can view a press release said.

This new KrisWorld facility, offered only on aircraft installed with the latest MAS3000 (Matsushita Avionics System Corporation) software, provides parents the option of restricting movies they find unsuitable, from their young children.

"Just as our customers are able to enjoy greater choice with the expanded KrisWorld inflight entertainment programming options, this new service offers parents the option of creating a preferred entertainment environment for their child when traveling on SIA," said Mr. Yap Kim Wah, SIA's Senior Vice-President Product and Services.

He added, "All the parent needs to do is to inform our cabin crew, before KrisWorld is activated, of the movie titles he does not wish to be shown in the child's seat and our crew will promptly block the specific movies from the seat the child is in."

Parents whose children may be travelling alone can also request for this facility through SIA's Reservations and Ticketing staff. Movies currently shown onboard KrisWorld, SIA's inflight entertainment system, can be found on the SIA website www.singaporeair.com. KrisWorld, using the MAS3000 system, allows passengers in all classes to enjoy movies and music CDs on demand, and create their own music playlist. With audio and video on demand, the customer is able to pause, fast-forward or rewind a movie or CD at anytime.

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