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China Zhongtian Construction Group to build training school in SL
Wednesday, June 14, 2017 - 01:00
The ongoing construction of Krrish tower (The one) undertaken by Zhongtian Construction Group China. Picture by Saliya Runapsinghe
China Zhongtian Construction Group China which is engaging in Sri Lankan real estate and leisure sector development projects with an investment to the tune of US$ 0.8 billion is looking for more opportunities. The company is also engaged in building the tallest building in the Maldives running in to 16 floors.
General Manager of Zhongtian Construction Group South Asia Company, Xu Xiaojiang said that they were also involved in building the high-end project in downtown Colombo, Krrish tower (The one). “The construction includes two super five star hotels and high-end offices, apartments and business entities. After completion, the project will be the tallest building in Sri Lanka with the third tower being 86 floors.”
He also said that they were also constructing the Horton Square Twin Tower project in Colombo 7, which will be the tallest twin tower in Sri Lanka and among the top four in the region. A comprehensive development project worth US$ 70 million will be built by Zhongtian in Excel world to convert it to an international experiential business and leisure complex.
This project is to be funded by Brown Leisure and a Hong Kong Enterprise. Brown Leisure is currently running excel World Park.
Xu Xiaojiang said that Sri Lankan construction industry is picking up and they see tremendous opportunities in Sri Lanka.
He added that as a part of their CSR they are planning to establish a on site long term training school, providing all local workers with free occupational, professional and technological training, so that their profession level can be improved and their salaries too can be increased. Zhongtian Company is ranked among the top 500 Chinese Enterprises and Top 50 Private Chinese Enterprises and were in to construction, real estate development, investment and education and has operations in ASEAN and South Asia and Africa.
- http://www.dailynews.lk/2017/06/14/...n-construction-group-build-training-school-sl
Wednesday, June 14, 2017 - 01:00
The ongoing construction of Krrish tower (The one) undertaken by Zhongtian Construction Group China. Picture by Saliya Runapsinghe
China Zhongtian Construction Group China which is engaging in Sri Lankan real estate and leisure sector development projects with an investment to the tune of US$ 0.8 billion is looking for more opportunities. The company is also engaged in building the tallest building in the Maldives running in to 16 floors.
General Manager of Zhongtian Construction Group South Asia Company, Xu Xiaojiang said that they were also involved in building the high-end project in downtown Colombo, Krrish tower (The one). “The construction includes two super five star hotels and high-end offices, apartments and business entities. After completion, the project will be the tallest building in Sri Lanka with the third tower being 86 floors.”
He also said that they were also constructing the Horton Square Twin Tower project in Colombo 7, which will be the tallest twin tower in Sri Lanka and among the top four in the region. A comprehensive development project worth US$ 70 million will be built by Zhongtian in Excel world to convert it to an international experiential business and leisure complex.
This project is to be funded by Brown Leisure and a Hong Kong Enterprise. Brown Leisure is currently running excel World Park.
Xu Xiaojiang said that Sri Lankan construction industry is picking up and they see tremendous opportunities in Sri Lanka.
He added that as a part of their CSR they are planning to establish a on site long term training school, providing all local workers with free occupational, professional and technological training, so that their profession level can be improved and their salaries too can be increased. Zhongtian Company is ranked among the top 500 Chinese Enterprises and Top 50 Private Chinese Enterprises and were in to construction, real estate development, investment and education and has operations in ASEAN and South Asia and Africa.
- http://www.dailynews.lk/2017/06/14/...n-construction-group-build-training-school-sl
China, Sri Lanka discuss possibility of bullet train
By Editor on June 14, 2017
Colombo, June 14 (newsin.asia) – Sri Lanka and China have discussed the possibility of launching bullet trains in the Indian Ocean island which would tremendously cut the travelling time from the south to the north of Sri Lanka, China’s Ambassador to Sri Lanka, Yi Xianliang said here Wednesday.
Yi said China had launched bullet trains in its own country and a travelling time of around 3 hours between cities had been cut to around 48 minutes.
He said he had held discussions on this regard with Sri Lanka’s President Maithripala Sirisena where suggestions had been made to launch a bullet train between capital Colombo to Trincomalee in the east, and from Jaffna in the north to Hambantota in the south.
Yi however said such projects would need funding and would take time.
Stressing that Sri Lanka was a big island with more than a 20 million population, more than 65,000 square km of territory and more than 560,000 square kilometers of water, Yi said there was much that Sri Lanka could produce and do to strengthen its position.
For starters he said Sri Lanka must put in place its basic industrial system because without this the country could not attract FDIs.
“You use so much foreign currency to buy what you can produce. I think this is why the Chinese leaders have suggested to Sri Lanka to set up their own industrial system,” Yi said.
With this in mind, Yi said China and Sri Lanka launched the economic zone in Hambantota, southern Sri Lanka, last year which will provide Sri Lanka a platform to create its own industrial hub.
Yi added that many other countries who had similar industrial zones, had strengthened their economies and attracted FDIs.
He further explained that in order to attract FDIs, Sri Lanka must also maintain a stable and consistent policy and a friendly mechanism for FDIs.
“This is most important for any country,” he said. “Last year I met with many Chinese CEOs and they would like to bring in FDIs to Sri Lanka. However Sri Lanka must have stability and consistency of its policies.”
Emphasizing on the China, Sri Lanka relations, Yi said China has always put Sri Lanka on an important position among its neighbourhood diplomacy.
With no hidden agendas, Yi said China and Sri Lanka had helped each other in difficult times and China would continue to assist and support the island country.
He further said economically, the Chinese government encourages Chinese companies and banks, private or national to have FDI in other countries who need the investments.
In investments,last year, China gave out 138 billion dollars worth of FDI to other countries. If Sri Lanka could get even one percent it means 1.3 billion, Yi said.
However he said trade between China and Sri Lanka was right now unbalanced and more should be done to promote trade between the two countries.
He further stressed that Sri Lanka needed to do more to attract Chinese tourists as more Chinese were now traveling the world.
Yi said last year more than 130 million Chinese people traveled to other countries and if Sri Lanka can attract at least 1 percent then it would mean 1 million Chinese tourists to the island country.
- https://newsin.asia/china-sri-lanka-discuss-possibility-bullet-train/
By Editor on June 14, 2017
Colombo, June 14 (newsin.asia) – Sri Lanka and China have discussed the possibility of launching bullet trains in the Indian Ocean island which would tremendously cut the travelling time from the south to the north of Sri Lanka, China’s Ambassador to Sri Lanka, Yi Xianliang said here Wednesday.
Yi said China had launched bullet trains in its own country and a travelling time of around 3 hours between cities had been cut to around 48 minutes.
He said he had held discussions on this regard with Sri Lanka’s President Maithripala Sirisena where suggestions had been made to launch a bullet train between capital Colombo to Trincomalee in the east, and from Jaffna in the north to Hambantota in the south.
Yi however said such projects would need funding and would take time.
Stressing that Sri Lanka was a big island with more than a 20 million population, more than 65,000 square km of territory and more than 560,000 square kilometers of water, Yi said there was much that Sri Lanka could produce and do to strengthen its position.
For starters he said Sri Lanka must put in place its basic industrial system because without this the country could not attract FDIs.
“You use so much foreign currency to buy what you can produce. I think this is why the Chinese leaders have suggested to Sri Lanka to set up their own industrial system,” Yi said.
With this in mind, Yi said China and Sri Lanka launched the economic zone in Hambantota, southern Sri Lanka, last year which will provide Sri Lanka a platform to create its own industrial hub.
Yi added that many other countries who had similar industrial zones, had strengthened their economies and attracted FDIs.
He further explained that in order to attract FDIs, Sri Lanka must also maintain a stable and consistent policy and a friendly mechanism for FDIs.
“This is most important for any country,” he said. “Last year I met with many Chinese CEOs and they would like to bring in FDIs to Sri Lanka. However Sri Lanka must have stability and consistency of its policies.”
Emphasizing on the China, Sri Lanka relations, Yi said China has always put Sri Lanka on an important position among its neighbourhood diplomacy.
With no hidden agendas, Yi said China and Sri Lanka had helped each other in difficult times and China would continue to assist and support the island country.
He further said economically, the Chinese government encourages Chinese companies and banks, private or national to have FDI in other countries who need the investments.
In investments,last year, China gave out 138 billion dollars worth of FDI to other countries. If Sri Lanka could get even one percent it means 1.3 billion, Yi said.
However he said trade between China and Sri Lanka was right now unbalanced and more should be done to promote trade between the two countries.
He further stressed that Sri Lanka needed to do more to attract Chinese tourists as more Chinese were now traveling the world.
Yi said last year more than 130 million Chinese people traveled to other countries and if Sri Lanka can attract at least 1 percent then it would mean 1 million Chinese tourists to the island country.
- https://newsin.asia/china-sri-lanka-discuss-possibility-bullet-train/
Partners firmed up for high speed rail and mega mixed development project
Castlepines Global Equities – Japan Office President Takashi Kinoshita signing the partnership agreement.
From left: Castlepines Global Equities – Japan Office Sri Lanka Senior Advisor Ranil Francisco, High Speed Railway Corporation Chief Executive Officer Shohrab Salman, High Speed Railway Corporation Chairman Dr. P.R.I. Michael, Castlepines Global Equities Asia Pacific General Manager Dr. Ishizaki Bungo, Castlepines Global Equities – Japan Office President Takashi Kinoshita and Castlepines Global Equities – Japan Office Senior Advisor – Japan Udaya Athukorala
High Speed Railway Corporation Ltd. (HSRC) achieved a milestone recently when its equity partner Castlepines Global Equities – Japan Office (CGE) signed a mandate to partner in delivering Sri Lanka’s first high speed rail project.
Founding Chairman Dr. Parimalam Rajo Isa Michael was the prime mover in setting up this partnership with one of the world’s largest equity funding partners, Castlepines Global Equities. HSRC and CGE have jointly extended a mandate to the Korean Institute of Machinery & Materials (KIMM) which pioneered MagLev technology into an urbanised version that has been successfully implemented in Korea with efficiency and economic value for both the operator and passenger.
KIMM will be mandated to undertake the design, development and implementation of the technology in Sri Lanka, while also taking on the responsibility to train and technically equip local know-how for the future. This would be the first such instance in the entire Asian region. Untitled-1
CML-MTD Construction Ltd., which is part of MTD Walkers PLC of Sri Lanka and their global counterparts Alloy MTD (based in Malaysia), will be mandated to undertake the construction of the proposed Rail Project estimated to cost around $ 2 billion at this stage.
Ceylan Insurance Brokers Ltd. have been mandated as the insurance partners of the mega project. Ceylan Insurance Brokers Director Prasanna Abeyrathne has made a significant contribution in setting up the insurance partnership for the package and has assured his fullest commitment in supporting the project in its entirety.
The project has, over the years, evolved into what it is today and has had significant support from the Government of Sri Lanka to progress thus far. In particular, the Ministry of Megapolis, Ministry of Health, Ministry of Transport and Board of Investment of Sri Lanka have seen the immense benefits from a development and economic perspective, and therefore extended support to the journey of the High Speed Rail and Mixed Development project.
The proposed Mega Project constitutes a state-of-the-art railway line that will use Magnetic Levitation (MagLev) to cover Negombo, Katunayake (Bandaranaike International Airport – BIA), Bopitiya, Ragama, Kettarama International Cricket Stadium, Beira Lake (Colombo Fort), Port City and Colombo 3 (Kollupitiya) Railway Station. Within the stations/terminals proposed, individual development projects under the umbrella of ‘High Speed Rail and Mixed Development Mega Project’ will be undertaken as follows:
Negombo – Proposed upgrade to the existing Negombo town to cater to more dynamic economic growth as a part of the project.
BIA – Integrate the MagLev Terminal at the departure and arrival lounges of the International Airport to allow both foreign and local passengers the opportunity to commute efficiently and with minimal hassle and time.
Bopitiya – A new concept into township development which will cater to a minimum of 3,200 dwellings both isolated and structured with facilities and features such as modern amenities, car parks, fully-equipped sports complex, an 18-hole golf resort, water park, flora and fauna nature reserve theme park and many more facilities. Bopitiya is a land space that has a significant correlation to nature with its association to the heritage listed ‘Muthurajawela’ and as such has been carefully thought of in the planning and designing process to ensure a minimum of 60% of the natural resources retain its original value. Furthermore, the promoters of this project led by Dr. Michael has emphasised the importance of the nature preservation requirements to the consortium, which has unanimously consented to this decision and hence carefully taken into account the legislated environmental policies and guidelines in preparing for the project.
Ragama Health City – A 300-bed, fully-equipped hospital combined with state-of-the-art laboratories, lodging and reference library that is being designed to ensure that every medical need of Sri Lanka and the South Asian region as a whole can be made available at an attractive and competitive rate. The proposition not only gives the opportunity for the country to save potential foreign exchange expenditure of Sri Lankans travelling overseas for medical treatment, but also significantly encourage and attract medical tourism.
Kettarama International Stadium – The proposed terminal is expected to encourage and afford an opportunity to sports enthusiasts to directly access the line to catch up on cricket, Sri Lanka’s biggest sports passion. Beira Lake (Colombo Fort) – A 400-room, star-class hotel has been planned to ensure that the best of everything is made available to both business travellers and holiday-makers. The train terminal is proposed at this location as an ‘underground’ terminal which will allow passengers using the facility to alight at this destination and simply walk into the hotel. Furthermore, the proposed designs also afford the facility of Airport check-in at the hotel itself thereby giving the busy traveller the opportunity to optimise on time. Port City Terminal – The terminal has been primarily planned to ensure access to the proposed Financial Hub of Sri Lanka with the best and most convenient source of transport. While there is a primary disembarking point planned into the port city, a separate route of transport/access spanning 18 sub-terminals around the port city will ensure mobility and convenience to those visiting the Financial Hub.
Colombo 3 (Kollupitiya) Terminal – The final destination of phase I of this initiative intends to link the existing train lines with the MagLev terminal, and as such, an underground terminal has been proposed at the existing Colombo 3 Rail Station. Under this proposition, HSRC will implement at the cost of the project a complete revamp and upgrade of the terminal that will bring about transformation to experience with continuity of transportation options around the country. HSRC also plans to offer free travel up to Galle railway station for travellers and commuters who chose to use MagLev urban trains from Negombo to Colombo 3.
“This is a landmark event for myself and the country that I consider to be my motherland through my maternal heritage. It has been a journey that I have worked towards over the past decade. I take great pride in announcing this landmark signing event and look forward to the realisation of the project,” said High Speed Railway Corporation Ltd. Chairman Dr. P.R.I. Michael.
“While there are many opportunities within the Asian region to invest in growth, it was our personal decision to support Sri Lanka. This was among many other reasons to support a country that is so rich in youth workforces and its passion to succeed in the future. We certainly look forward to working with our partners in Sri Lanka, HSRC, in this journey,” said Castlepines Global Equities – Japan Office President Takashi Kinoshita.
- http://www.ft.lk/article/622332/Par...speed-rail-and-mega-mixed-development-project
Castlepines Global Equities – Japan Office President Takashi Kinoshita signing the partnership agreement.
From left: Castlepines Global Equities – Japan Office Sri Lanka Senior Advisor Ranil Francisco, High Speed Railway Corporation Chief Executive Officer Shohrab Salman, High Speed Railway Corporation Chairman Dr. P.R.I. Michael, Castlepines Global Equities Asia Pacific General Manager Dr. Ishizaki Bungo, Castlepines Global Equities – Japan Office President Takashi Kinoshita and Castlepines Global Equities – Japan Office Senior Advisor – Japan Udaya Athukorala
- Proposed project to use MagLev line linking Negombo, BIA, Bopitiya, Ragama, Kettarama, Fort, Port City and Kollupitiya railway station
High Speed Railway Corporation Ltd. (HSRC) achieved a milestone recently when its equity partner Castlepines Global Equities – Japan Office (CGE) signed a mandate to partner in delivering Sri Lanka’s first high speed rail project.
Founding Chairman Dr. Parimalam Rajo Isa Michael was the prime mover in setting up this partnership with one of the world’s largest equity funding partners, Castlepines Global Equities. HSRC and CGE have jointly extended a mandate to the Korean Institute of Machinery & Materials (KIMM) which pioneered MagLev technology into an urbanised version that has been successfully implemented in Korea with efficiency and economic value for both the operator and passenger.
KIMM will be mandated to undertake the design, development and implementation of the technology in Sri Lanka, while also taking on the responsibility to train and technically equip local know-how for the future. This would be the first such instance in the entire Asian region. Untitled-1
CML-MTD Construction Ltd., which is part of MTD Walkers PLC of Sri Lanka and their global counterparts Alloy MTD (based in Malaysia), will be mandated to undertake the construction of the proposed Rail Project estimated to cost around $ 2 billion at this stage.
Ceylan Insurance Brokers Ltd. have been mandated as the insurance partners of the mega project. Ceylan Insurance Brokers Director Prasanna Abeyrathne has made a significant contribution in setting up the insurance partnership for the package and has assured his fullest commitment in supporting the project in its entirety.
The project has, over the years, evolved into what it is today and has had significant support from the Government of Sri Lanka to progress thus far. In particular, the Ministry of Megapolis, Ministry of Health, Ministry of Transport and Board of Investment of Sri Lanka have seen the immense benefits from a development and economic perspective, and therefore extended support to the journey of the High Speed Rail and Mixed Development project.
The proposed Mega Project constitutes a state-of-the-art railway line that will use Magnetic Levitation (MagLev) to cover Negombo, Katunayake (Bandaranaike International Airport – BIA), Bopitiya, Ragama, Kettarama International Cricket Stadium, Beira Lake (Colombo Fort), Port City and Colombo 3 (Kollupitiya) Railway Station. Within the stations/terminals proposed, individual development projects under the umbrella of ‘High Speed Rail and Mixed Development Mega Project’ will be undertaken as follows:
Negombo – Proposed upgrade to the existing Negombo town to cater to more dynamic economic growth as a part of the project.
BIA – Integrate the MagLev Terminal at the departure and arrival lounges of the International Airport to allow both foreign and local passengers the opportunity to commute efficiently and with minimal hassle and time.
Bopitiya – A new concept into township development which will cater to a minimum of 3,200 dwellings both isolated and structured with facilities and features such as modern amenities, car parks, fully-equipped sports complex, an 18-hole golf resort, water park, flora and fauna nature reserve theme park and many more facilities. Bopitiya is a land space that has a significant correlation to nature with its association to the heritage listed ‘Muthurajawela’ and as such has been carefully thought of in the planning and designing process to ensure a minimum of 60% of the natural resources retain its original value. Furthermore, the promoters of this project led by Dr. Michael has emphasised the importance of the nature preservation requirements to the consortium, which has unanimously consented to this decision and hence carefully taken into account the legislated environmental policies and guidelines in preparing for the project.
Ragama Health City – A 300-bed, fully-equipped hospital combined with state-of-the-art laboratories, lodging and reference library that is being designed to ensure that every medical need of Sri Lanka and the South Asian region as a whole can be made available at an attractive and competitive rate. The proposition not only gives the opportunity for the country to save potential foreign exchange expenditure of Sri Lankans travelling overseas for medical treatment, but also significantly encourage and attract medical tourism.
Kettarama International Stadium – The proposed terminal is expected to encourage and afford an opportunity to sports enthusiasts to directly access the line to catch up on cricket, Sri Lanka’s biggest sports passion. Beira Lake (Colombo Fort) – A 400-room, star-class hotel has been planned to ensure that the best of everything is made available to both business travellers and holiday-makers. The train terminal is proposed at this location as an ‘underground’ terminal which will allow passengers using the facility to alight at this destination and simply walk into the hotel. Furthermore, the proposed designs also afford the facility of Airport check-in at the hotel itself thereby giving the busy traveller the opportunity to optimise on time. Port City Terminal – The terminal has been primarily planned to ensure access to the proposed Financial Hub of Sri Lanka with the best and most convenient source of transport. While there is a primary disembarking point planned into the port city, a separate route of transport/access spanning 18 sub-terminals around the port city will ensure mobility and convenience to those visiting the Financial Hub.
Colombo 3 (Kollupitiya) Terminal – The final destination of phase I of this initiative intends to link the existing train lines with the MagLev terminal, and as such, an underground terminal has been proposed at the existing Colombo 3 Rail Station. Under this proposition, HSRC will implement at the cost of the project a complete revamp and upgrade of the terminal that will bring about transformation to experience with continuity of transportation options around the country. HSRC also plans to offer free travel up to Galle railway station for travellers and commuters who chose to use MagLev urban trains from Negombo to Colombo 3.
“This is a landmark event for myself and the country that I consider to be my motherland through my maternal heritage. It has been a journey that I have worked towards over the past decade. I take great pride in announcing this landmark signing event and look forward to the realisation of the project,” said High Speed Railway Corporation Ltd. Chairman Dr. P.R.I. Michael.
“While there are many opportunities within the Asian region to invest in growth, it was our personal decision to support Sri Lanka. This was among many other reasons to support a country that is so rich in youth workforces and its passion to succeed in the future. We certainly look forward to working with our partners in Sri Lanka, HSRC, in this journey,” said Castlepines Global Equities – Japan Office President Takashi Kinoshita.
- http://www.ft.lk/article/622332/Par...speed-rail-and-mega-mixed-development-project
Proposed US$ 2 bn Colombo-Katunayake Rail Project gets on track
Thursday, June 15, 2017 - 01:00
Ranil Francisco, Senior Adviser, Sri Lanka, Castlepines Global Equities, Japan Office, Shohrab Salman, Chief Executive Officer, HSRC, Dr. P.R.I. Michael, Chairman, HSRC, Dr. Ishizaki Bungo, General Manager Asia Pacific, Castlepines Global Equities, Takash
High Speed Railway Corporation Pvt Ltd (HSRC) achieved a milestone recently when its equity partner Castlepines Global Equities–Japan Office (CGE) signed a mandate to partner in delivering what is expected to be one of Sri Lanka’s largest mega transport projects.
Dr. Parimalam Rajo Isa Michael, the founding Chairman and visionary leader of the High-Speed Rail and Mixed Development Project, was the prime mover in setting up this partnership with one of the world’s largest equity funding partners, Castlepines Global Equities.
HSRC with CGE have jointly extended a mandate to the Korean Institute of Machinery & Materials (KIMM) who have pioneered the MagLev technology into an urbanized version that has been successfully implemented in Korea with efficiency and economic value for both the operator and passenger.
KIMM will be mandated to undertake the design, development and implementation of the technology in Sri Lanka, while also taking on the responsibility to train and technically equip local knowhow for the future. This would be the first such instance in the entire Asian region.
CML-MTD Construction Ltd., which is part of MTD Walkers PLC of Sri Lanka and their global counterparts Alloy MTD (based in Malaysia), will be mandated to undertake the construction of the proposed rail project estimated to cost around US$2 billion at this stage.
Ceylan Insurance Brokers Pvt Ltd., have been mandated as the ‘exclusive’ insurance partners of the mega project.
The proposed mega project constitutes a state-of-the-art railway line that will use magnetic levitation (MagLev) to cover Negombo, Katunayake (Bandaranaike International Airport – BIA), Bopitiya, Ragama, Kettarama International Cricket Stadium, Beira Lake (Colombo Fort), Port City and Colombo 03 (Kollupitiya) Railway Station.
A new concept into township development will cater to a minimum of 3,200 dwellings, both isolated and structured, with facilities and features such as modern amenities, car parks, fully-equipped sports complex, an 18-hole golf resort, water park, flora and fauna nature reserve theme park and many more facilities.
The promoters of this project led by Dr. Michael have emphasized the importance of the nature preservation requirements to the consortium, which has unanimously consented to this decision and hence carefully taken into account the legislated environmental policies and guidelines in preparing for the project.
A 300-bed, fully-equipped hospital combined with state-of-the-art laboratories, lodging and reference library is being designed (Ragama Health City) to ensure that every medical need of Sri Lanka and the South Asian region as a whole can be made available at an attractive and competitive rate.
The proposed terminal is expected to encourage and afford an opportunity to sports enthusiasts to directly access the line to catch up on cricket at Kettarama International Stadium.
A 400-room, star-class hotel (Beira Lake Colombo Fort) has been planned to ensure that the best of everything is made available to both business travelers and holiday-makers.
The train terminal is proposed at this location as an ‘underground’ terminal which will allow passengers using the facility to alight at this destination and simply walk into the hotel.
The Port City Terminal has been primarily planned to ensure access to the proposed financial hub of Sri Lanka with the best and most convenient source of transport.
Colombo 3 (Kollupitiya) Terminal will be the final destination of Phase I of this initiative. The project also intends to link the existing train lines from Colombo 3 railway station.
“This is a landmark event for me and the country,” said Dr. Michael.
“While there are many opportunities within the Asian region to invest in growth, it was our personal decision to support Sri Lanka,” said Takashi Kinoshita, President, Castlepines Global Equities–Japan Office.
- http://www.dailynews.lk/2017/06/15/...bn-colombo-katunayake-rail-project-gets-track
Thursday, June 15, 2017 - 01:00
Ranil Francisco, Senior Adviser, Sri Lanka, Castlepines Global Equities, Japan Office, Shohrab Salman, Chief Executive Officer, HSRC, Dr. P.R.I. Michael, Chairman, HSRC, Dr. Ishizaki Bungo, General Manager Asia Pacific, Castlepines Global Equities, Takash
High Speed Railway Corporation Pvt Ltd (HSRC) achieved a milestone recently when its equity partner Castlepines Global Equities–Japan Office (CGE) signed a mandate to partner in delivering what is expected to be one of Sri Lanka’s largest mega transport projects.
Dr. Parimalam Rajo Isa Michael, the founding Chairman and visionary leader of the High-Speed Rail and Mixed Development Project, was the prime mover in setting up this partnership with one of the world’s largest equity funding partners, Castlepines Global Equities.
HSRC with CGE have jointly extended a mandate to the Korean Institute of Machinery & Materials (KIMM) who have pioneered the MagLev technology into an urbanized version that has been successfully implemented in Korea with efficiency and economic value for both the operator and passenger.
KIMM will be mandated to undertake the design, development and implementation of the technology in Sri Lanka, while also taking on the responsibility to train and technically equip local knowhow for the future. This would be the first such instance in the entire Asian region.
CML-MTD Construction Ltd., which is part of MTD Walkers PLC of Sri Lanka and their global counterparts Alloy MTD (based in Malaysia), will be mandated to undertake the construction of the proposed rail project estimated to cost around US$2 billion at this stage.
Ceylan Insurance Brokers Pvt Ltd., have been mandated as the ‘exclusive’ insurance partners of the mega project.
The proposed mega project constitutes a state-of-the-art railway line that will use magnetic levitation (MagLev) to cover Negombo, Katunayake (Bandaranaike International Airport – BIA), Bopitiya, Ragama, Kettarama International Cricket Stadium, Beira Lake (Colombo Fort), Port City and Colombo 03 (Kollupitiya) Railway Station.
A new concept into township development will cater to a minimum of 3,200 dwellings, both isolated and structured, with facilities and features such as modern amenities, car parks, fully-equipped sports complex, an 18-hole golf resort, water park, flora and fauna nature reserve theme park and many more facilities.
The promoters of this project led by Dr. Michael have emphasized the importance of the nature preservation requirements to the consortium, which has unanimously consented to this decision and hence carefully taken into account the legislated environmental policies and guidelines in preparing for the project.
A 300-bed, fully-equipped hospital combined with state-of-the-art laboratories, lodging and reference library is being designed (Ragama Health City) to ensure that every medical need of Sri Lanka and the South Asian region as a whole can be made available at an attractive and competitive rate.
The proposed terminal is expected to encourage and afford an opportunity to sports enthusiasts to directly access the line to catch up on cricket at Kettarama International Stadium.
A 400-room, star-class hotel (Beira Lake Colombo Fort) has been planned to ensure that the best of everything is made available to both business travelers and holiday-makers.
The train terminal is proposed at this location as an ‘underground’ terminal which will allow passengers using the facility to alight at this destination and simply walk into the hotel.
The Port City Terminal has been primarily planned to ensure access to the proposed financial hub of Sri Lanka with the best and most convenient source of transport.
Colombo 3 (Kollupitiya) Terminal will be the final destination of Phase I of this initiative. The project also intends to link the existing train lines from Colombo 3 railway station.
“This is a landmark event for me and the country,” said Dr. Michael.
“While there are many opportunities within the Asian region to invest in growth, it was our personal decision to support Sri Lanka,” said Takashi Kinoshita, President, Castlepines Global Equities–Japan Office.
- http://www.dailynews.lk/2017/06/15/...bn-colombo-katunayake-rail-project-gets-track
Net foreign inflows top Rs. 20b mark; shift towards 3-year high
Monday, 12 June 2017 01:08
Further exposing locals’ lack of confidence, foreign net inflows into the Colombo Stock Exchange have topped the Rs. 20 billion mark as of Friday, prompting analysts to forecast that if the trend continues 2017 may end with a record or even challenge the all-time high levels.
Total net foreign inflows into both the primary and secondary market amounted to Rs. 20.3 billion year to date compared to Rs. 2.28 billion for the entirety of 2016 and Rs. 383.5 million (in the secondary market).
The continued bullish sentiment from foreign investors is likely within the next few weeks or months to enable the CSE to eclipse the 2014 total net inflows of Rs. 21.7 billion. Analysts said that if factors driving foreign interest improve further 2017 may even challenge CSE’s all-time record inflow of Rs. 38.6 billion achieved in bullish 2012 since the current year has nearly six more months.
In 2013 net inflows amounted to Rs. 22.7 billion. Since 2012, only 2015 saw a net foreign outflow amounting to Rs. 5.3 billion.
The market’s Price Earnings Ratio remains attractive at 11.49 times as against 12.37 times in 2016 and 17.98 times in 2015 whilst in 2014 it was 19.66 times. “The current PER suggests there is room for buying and foreigners have been more bullish on selected stocks. It is disappointing locals continued a ‘wait and see’ attitude as well as a lack of overall confidence on future upside of equities,” analysts noted.
For example, foreign investors have remained net buyers for the 19th consecutive week since February 2017, according to Acuity Stockbrokers.
Year to date the Colombo stock market is up by over 7% in terms of the All Share Price Index and nearly 10% in terms of S&P SL 20 Index.
The gains are impressive given the fact that the ASI had declined by 9.7% and 5.5% respectively in 2016 and 2015 whilst S&P SL was down 3.6% and 11.3%.
- http://www.ft.lk/article/621503/Net-foreign-inflows-top-Rs.-20-b-mark--shift-towards-3-year-high
Monday, 12 June 2017 01:08
Further exposing locals’ lack of confidence, foreign net inflows into the Colombo Stock Exchange have topped the Rs. 20 billion mark as of Friday, prompting analysts to forecast that if the trend continues 2017 may end with a record or even challenge the all-time high levels.
Total net foreign inflows into both the primary and secondary market amounted to Rs. 20.3 billion year to date compared to Rs. 2.28 billion for the entirety of 2016 and Rs. 383.5 million (in the secondary market).
The continued bullish sentiment from foreign investors is likely within the next few weeks or months to enable the CSE to eclipse the 2014 total net inflows of Rs. 21.7 billion. Analysts said that if factors driving foreign interest improve further 2017 may even challenge CSE’s all-time record inflow of Rs. 38.6 billion achieved in bullish 2012 since the current year has nearly six more months.
In 2013 net inflows amounted to Rs. 22.7 billion. Since 2012, only 2015 saw a net foreign outflow amounting to Rs. 5.3 billion.
The market’s Price Earnings Ratio remains attractive at 11.49 times as against 12.37 times in 2016 and 17.98 times in 2015 whilst in 2014 it was 19.66 times. “The current PER suggests there is room for buying and foreigners have been more bullish on selected stocks. It is disappointing locals continued a ‘wait and see’ attitude as well as a lack of overall confidence on future upside of equities,” analysts noted.
For example, foreign investors have remained net buyers for the 19th consecutive week since February 2017, according to Acuity Stockbrokers.
Year to date the Colombo stock market is up by over 7% in terms of the All Share Price Index and nearly 10% in terms of S&P SL 20 Index.
The gains are impressive given the fact that the ASI had declined by 9.7% and 5.5% respectively in 2016 and 2015 whilst S&P SL was down 3.6% and 11.3%.
- http://www.ft.lk/article/621503/Net-foreign-inflows-top-Rs.-20-b-mark--shift-towards-3-year-high
Colombo City Centre to house Sri Lanka’s first-ever six-screen multiplex
By Zahara Zuhair
Colombo City Centre (CCC), which is currently under construction, this week entered into an agreement with the local brand, Scope Cinema, to house Sri Lanka’s first-ever six-screen multiplex within CCC with an investment of Rs.350 million, which would acquire 16,000 square feet for the project.
The cinema, which will open in December this year, will have 650 seats and will be screening about 30 shows every day. Expecting to transform the local cinematic experience, it will also introduce 4K projection technology and Dolby Atoms surround sound for the first time in Sri Lanka.
This is Scope Cinema’s second project, after Liberty Cinema, which went under renovation recently.
Scope Cinema Chairman Naveed Cader said that they have two major projects in the pipeline—one in Rajagiriya, which is to be announced soon and another one in Kandy.
He said his company’s intention is to give an “out of the world experience” to the Sri Lankan public.
With the vision of becoming the most popular cinema chain in the country, he said they introduced zero intervals, enhanced 3D display and also an app for the Android platforms, which would give the latest updates of the movies and times.
He said they have designed this cinema experience to touch every sense of the human being. Abans Group Director Rusi Pestonjee noted that they are glad to introduce a world-class cinema experience, with a combination of the state-of-the-art technologies and facilities, which was never seen before in Sri Lanka.
Meanwhile, CCC, the mixed-use development, developed by the Abans group in collaboration with Singapore’s SilverNeedle Hospitality, with an investment of US $ 160 million, will be handing over their apartments for the customers from October 2018.
Pestonjee said that almost 70 percent is already leased out.
CCC, which will be 183 metres in height, taller than the World Trade Centre (152 metres), opposite Beira Lake, is said to be the first international multi complex that is done in Sri Lanka to the international standards.
It will have 192 curated residencies, an international retail mall, 400-seater food court, upscale business hotel, the six screen Cineplex, etc.
Recently, Odel PLC and its subsidiary Softlogic Brands (Pvt.) Ltd announced their presence in the CCC mall, and Pestonjee said that they expect more international brands to acquire space in their project.
The food court of the project, with local and international cuisines, will be built with an investment of US $ 2 million, it was noted.
By Zahara Zuhair
Colombo City Centre (CCC), which is currently under construction, this week entered into an agreement with the local brand, Scope Cinema, to house Sri Lanka’s first-ever six-screen multiplex within CCC with an investment of Rs.350 million, which would acquire 16,000 square feet for the project.
The cinema, which will open in December this year, will have 650 seats and will be screening about 30 shows every day. Expecting to transform the local cinematic experience, it will also introduce 4K projection technology and Dolby Atoms surround sound for the first time in Sri Lanka.
This is Scope Cinema’s second project, after Liberty Cinema, which went under renovation recently.
Scope Cinema Chairman Naveed Cader said that they have two major projects in the pipeline—one in Rajagiriya, which is to be announced soon and another one in Kandy.
He said his company’s intention is to give an “out of the world experience” to the Sri Lankan public.
With the vision of becoming the most popular cinema chain in the country, he said they introduced zero intervals, enhanced 3D display and also an app for the Android platforms, which would give the latest updates of the movies and times.
He said they have designed this cinema experience to touch every sense of the human being. Abans Group Director Rusi Pestonjee noted that they are glad to introduce a world-class cinema experience, with a combination of the state-of-the-art technologies and facilities, which was never seen before in Sri Lanka.
Meanwhile, CCC, the mixed-use development, developed by the Abans group in collaboration with Singapore’s SilverNeedle Hospitality, with an investment of US $ 160 million, will be handing over their apartments for the customers from October 2018.
Pestonjee said that almost 70 percent is already leased out.
CCC, which will be 183 metres in height, taller than the World Trade Centre (152 metres), opposite Beira Lake, is said to be the first international multi complex that is done in Sri Lanka to the international standards.
It will have 192 curated residencies, an international retail mall, 400-seater food court, upscale business hotel, the six screen Cineplex, etc.
Recently, Odel PLC and its subsidiary Softlogic Brands (Pvt.) Ltd announced their presence in the CCC mall, and Pestonjee said that they expect more international brands to acquire space in their project.
The food court of the project, with local and international cuisines, will be built with an investment of US $ 2 million, it was noted.
මොරගහකන්දේ මීළඟ මෙහෙයුමත් අරඹයි
වැඩ අවසන් විමට ආසන්න මොරගහකන්ද වාරි ව්යාපෘතියේ විදුලි බලාගාරයේ විදුලිය නිපදවීමේ පරික්ෂණ කටයුතු ආරම්භ කර තිබෙනවා.
මොරගහකන්ද වාරි ව්යාපෘතිය හේතුවෙන් ජාතික විදුලිබල පද්ධතියට එක්වන විදුලි ප්රමාණය මෙගා වොට් 25 ක්.
කඩිනම් මහවැලි ව්යාපෘතිය යටතේ ඉදිවන මොරගහකන්ද ව්යාපෘතියේ වැඩකටයුතු අවසන් අදියරේ පැවතීම හේතුවෙන් ටර්බයින් යන්ත්ර ක්රියාත්මක කර පරික්ෂණ ආරම්භ කළ බව ව්යාපෘතියේ මහජන සම්බන්ධතා නිලධාරි පී. ජී. දයානන්ද අද (15) සඳහන් කළා.
ව්යාපෘතියේ වැඩ 95% ක්ම අවසන් වීම හේතුවෙන් විදුලිය නිපදවීමේ කටයුතු සඳහා කඩිනමින් ක්රියාකිරීමට හැකි වූ බව හෙතෙම සඳහන් කළා.
ව්යාපෘතිය හේතුවෙන් ලක්ෂ දහයකට අයත් පවුල්වල සාමජිකයින්ට සෙත සැලසෙන අතර මේ වන විටත් ව්යාපෘතිය යටතේ අවතැන් වු පිරිස් හට යටිතල පහසුකම් ලබාදී ඇති බව ද හෙතෙම සඳහන් කළා.
ඉහල ජලාධාර ප්රදේශවලට ලැබුනු ජලය හේතුවෙන් මොරගහකන්ද ජලාශයේ ජල මට්ටම ද මේ වන විට ඉහල ගොස් තිබෙනවා.
- http://nethnews.lk/article/42643
වැඩ අවසන් විමට ආසන්න මොරගහකන්ද වාරි ව්යාපෘතියේ විදුලි බලාගාරයේ විදුලිය නිපදවීමේ පරික්ෂණ කටයුතු ආරම්භ කර තිබෙනවා.
මොරගහකන්ද වාරි ව්යාපෘතිය හේතුවෙන් ජාතික විදුලිබල පද්ධතියට එක්වන විදුලි ප්රමාණය මෙගා වොට් 25 ක්.
කඩිනම් මහවැලි ව්යාපෘතිය යටතේ ඉදිවන මොරගහකන්ද ව්යාපෘතියේ වැඩකටයුතු අවසන් අදියරේ පැවතීම හේතුවෙන් ටර්බයින් යන්ත්ර ක්රියාත්මක කර පරික්ෂණ ආරම්භ කළ බව ව්යාපෘතියේ මහජන සම්බන්ධතා නිලධාරි පී. ජී. දයානන්ද අද (15) සඳහන් කළා.
ව්යාපෘතියේ වැඩ 95% ක්ම අවසන් වීම හේතුවෙන් විදුලිය නිපදවීමේ කටයුතු සඳහා කඩිනමින් ක්රියාකිරීමට හැකි වූ බව හෙතෙම සඳහන් කළා.
ව්යාපෘතිය හේතුවෙන් ලක්ෂ දහයකට අයත් පවුල්වල සාමජිකයින්ට සෙත සැලසෙන අතර මේ වන විටත් ව්යාපෘතිය යටතේ අවතැන් වු පිරිස් හට යටිතල පහසුකම් ලබාදී ඇති බව ද හෙතෙම සඳහන් කළා.
ඉහල ජලාධාර ප්රදේශවලට ලැබුනු ජලය හේතුවෙන් මොරගහකන්ද ජලාශයේ ජල මට්ටම ද මේ වන විට ඉහල ගොස් තිබෙනවා.
- http://nethnews.lk/article/42643
447 Luna Tower display model stands tall at Jaguar Land Rover showroom
From left: Asia Capital Chairman Paul Ratnayeke, PWA Head Architect Phillip Weeraratne, Asia Capital Director Toshiaki Tanaka, Sanken Construction Managing Director Ranjith Gunatilleke and Asia Capital Director/CEO Stefan Abeyesinhe
The event to commemorate the unveiling of the ‘447 Luna Tower’ display model took place in partnership with Jaguar Land Rover.
Developers of luxury condominium ‘447 Luna Tower,’ Belluna Co. Ltd. Japan, in collaboration with Asia Capital PLC, recently unveiled the display model at an exclusive cocktail evening held at the Jaguar Land Rover Showroom.
The event was well-attended by VIP invitees from both Asia Capital PLC and Jaguar Land Rover, as well as owners of the recently launched condominium project and other distinguished guests.
Following an introductory speech into the crux of 447 Luna Tower’s lifestyle concept and its design aesthetics by PWA Architects Head Architect Phillip Weeraratne, the display model was ceremoniously unveiled by Asia Capital PLC Chairman Paul Ratnayeke, Asia Capital PLC Director Toshiaki Tanaka and Weeraratne, to the captivated attendees.
The model will remain at the Jaguar Land Rover showroom located at Flower Road, Colombo 3 for public viewing.
The $50 million (approx. Rs. 7.3 billion) project, aptly named after its address – 447, Union Place – offers 190 elegantly-styled apartments, constructed within a 44-storey building, The project broke ground in October 2016; piling was completed in April this year; and construction is on track; the condominium is scheduled to be completed in the second quarter of 2020.
It is poised to be the only condominium at the heart of the city to strike a perfect balance between elegant design and luxury living, offered at a convenient location and competitive price. Apartments are priced from Rs. 37 million upward offering the option of two, three and four bedroom units. 447 Luna Tower is the first of many projects undertaken through Belluna Co. Ltd., Japan and Asia Capital PLC’s partnership.
Belluna Co. Ltd. Japan, a Tokyo Stock Exchange – First Section listed company, is a significant player in the global real estate industry with decades of experience. Belluna Co.’s existing projects span from Myanmar to the USA, including Hollywood and Los Angeles, and now, Sri Lanka.
For Asia Capital PLC, a diversified financial service conglomerate and the largest investment bank to be listed on the Colombo Stock Exchange, this project represents yet another milestone in its history of achievements both in investment banking and property development.
- http://www.ft.lk/article/622178/447...del-stands-tall-at-Jaguar-Land-Rover-showroom
From left: Asia Capital Chairman Paul Ratnayeke, PWA Head Architect Phillip Weeraratne, Asia Capital Director Toshiaki Tanaka, Sanken Construction Managing Director Ranjith Gunatilleke and Asia Capital Director/CEO Stefan Abeyesinhe
The event to commemorate the unveiling of the ‘447 Luna Tower’ display model took place in partnership with Jaguar Land Rover.
Developers of luxury condominium ‘447 Luna Tower,’ Belluna Co. Ltd. Japan, in collaboration with Asia Capital PLC, recently unveiled the display model at an exclusive cocktail evening held at the Jaguar Land Rover Showroom.
The event was well-attended by VIP invitees from both Asia Capital PLC and Jaguar Land Rover, as well as owners of the recently launched condominium project and other distinguished guests.
Following an introductory speech into the crux of 447 Luna Tower’s lifestyle concept and its design aesthetics by PWA Architects Head Architect Phillip Weeraratne, the display model was ceremoniously unveiled by Asia Capital PLC Chairman Paul Ratnayeke, Asia Capital PLC Director Toshiaki Tanaka and Weeraratne, to the captivated attendees.
The model will remain at the Jaguar Land Rover showroom located at Flower Road, Colombo 3 for public viewing.
The $50 million (approx. Rs. 7.3 billion) project, aptly named after its address – 447, Union Place – offers 190 elegantly-styled apartments, constructed within a 44-storey building, The project broke ground in October 2016; piling was completed in April this year; and construction is on track; the condominium is scheduled to be completed in the second quarter of 2020.
It is poised to be the only condominium at the heart of the city to strike a perfect balance between elegant design and luxury living, offered at a convenient location and competitive price. Apartments are priced from Rs. 37 million upward offering the option of two, three and four bedroom units. 447 Luna Tower is the first of many projects undertaken through Belluna Co. Ltd., Japan and Asia Capital PLC’s partnership.
Belluna Co. Ltd. Japan, a Tokyo Stock Exchange – First Section listed company, is a significant player in the global real estate industry with decades of experience. Belluna Co.’s existing projects span from Myanmar to the USA, including Hollywood and Los Angeles, and now, Sri Lanka.
For Asia Capital PLC, a diversified financial service conglomerate and the largest investment bank to be listed on the Colombo Stock Exchange, this project represents yet another milestone in its history of achievements both in investment banking and property development.
- http://www.ft.lk/article/622178/447...del-stands-tall-at-Jaguar-Land-Rover-showroom
kauru patan gattath mokada ubala nam maha kuhaka ballo panava gahala ramai marenne kawadahari.
J.L. Morison to build state-of-the-art research and manufacturing facility in Homagama
J.L Morison Son & Jones (Ceylon) Plc, the largest pharmaceutical manufacturer in Sri Lanka, is investing $ 13.5 million on a new research and manufacturing facility located within the Sri Lanka Institute of Nano Technology (SLINTEC) Park in Pitipana, Homagama.
The foundation stone-laying ceremony was conducted on 15 June in the presence of top management officials. The plant will be the first European Union Good Manufacturing Practices (GMP) compliant facility in the country. The state-of-the-art facility is expected to be in operation by March 2019 and will further augment the manufacturing capacity of J.L. Morison.
J.L. Morison Son & Jones (Ceylon) Plc commenced operations in Sri Lanka in 1939 and was listed on the Colombo Stock Exchange in 1964. In May 2013, the Hemas Group acquired a controlling stake in the company. Today it is a fully Sri Lankan-owned company with over seven decades of experience in pharmaceutical manufacturing and renowned over-the-counter brands such as Morison’s Gripe Mixture, Lacto Calamine and Valmelix, amongst others.
The manufacturing process maintains stringent quality standards and is in compliance with the recognised pharmacopeia specifications and good manufacturing practices, in line with World Health Organization (WHO) guidelines.
The global pharmaceutical industry is one of the fastest growing industries, which over the last decade has grown steadily at a Compound Annual Growth Rate of 5.8%. The stable growth trajectory is expected to continue and reach 1.4 trillion by 2020. The rise of ‘Pharmerging Markets’, which is expected to reach $ 350 billion by 2020, is one key trend seen abetting this growth.
J.L. Morison Son & Jones (Ceylon) Plc Managing Director Trihan Perera said: “The new research and manufacturing facility marks an exciting new era for J.L. Morison and is also significantly, a key milestone for the industry. The facility will create employment for over 200 skilled and semi-skilled persons. It will enhance the use of new technology in the industry and facilitate a modern and technologically-advanced workplace for our employees. Most importantly, the establishment will focus on increasing the availability of an even wider range of high quality, efficacious pharmaceuticals in the country, thereby enhancing our self-sufficiency. This will help save valuable foreign exchange over the years and help bolster our nation’s foreign exchange earnings through exports. We thereby envision a multitude of benefits for all our valued stakeholders and the nation as a whole as a result of this operation. Every great journey begins with the first step. Today, we take that first step with revitalised aspirations, courage and commitment.”
He also stated that the new facility will contribute significantly in achieving near self-sufficiency in pharmaceuticals, while creating a stronger footprint in exports. A globally significant pharmaceutical manufacturing industry in Sri Lanka will be able to better support a robust national health policy that will benefit all Sri Lankans.
Driven by the increase in global trade in pharmaceutical products and the subsequent complex technical regulations related to medical safety and quality, there has been a push towards the harmonisation of international pharmaceutical guidelines and regulations by intergovernmental organisations at regional and international levels.
Thus, the partnership with SLINTEC is expected to drive cutting-edge innovation through both nanotechnology and biotechnology in creating innovative and effective pharmaceuticals, enabling Sri Lanka to be ready to compete in the global pharmaceutical arena.
J.L. Morison Son & Jones (Ceylon) Plc is a subsidiary of diversified conglomerate Hemas Holdings Plc, listed on the Colombo Stock Exchange with a focus on fast-moving consumer goods, healthcare, transportation and leisure.
- http://www.ft.lk/article/622525/J-L...search-and-manufacturing-facility-in-Homagama
- Sri Lanka’s first EU Good Manufacturing Practices (GMP) compliant manufacturing facility
J.L Morison Son & Jones (Ceylon) Plc, the largest pharmaceutical manufacturer in Sri Lanka, is investing $ 13.5 million on a new research and manufacturing facility located within the Sri Lanka Institute of Nano Technology (SLINTEC) Park in Pitipana, Homagama.
The foundation stone-laying ceremony was conducted on 15 June in the presence of top management officials. The plant will be the first European Union Good Manufacturing Practices (GMP) compliant facility in the country. The state-of-the-art facility is expected to be in operation by March 2019 and will further augment the manufacturing capacity of J.L. Morison.
J.L. Morison Son & Jones (Ceylon) Plc commenced operations in Sri Lanka in 1939 and was listed on the Colombo Stock Exchange in 1964. In May 2013, the Hemas Group acquired a controlling stake in the company. Today it is a fully Sri Lankan-owned company with over seven decades of experience in pharmaceutical manufacturing and renowned over-the-counter brands such as Morison’s Gripe Mixture, Lacto Calamine and Valmelix, amongst others.
The manufacturing process maintains stringent quality standards and is in compliance with the recognised pharmacopeia specifications and good manufacturing practices, in line with World Health Organization (WHO) guidelines.
The global pharmaceutical industry is one of the fastest growing industries, which over the last decade has grown steadily at a Compound Annual Growth Rate of 5.8%. The stable growth trajectory is expected to continue and reach 1.4 trillion by 2020. The rise of ‘Pharmerging Markets’, which is expected to reach $ 350 billion by 2020, is one key trend seen abetting this growth.
J.L. Morison Son & Jones (Ceylon) Plc Managing Director Trihan Perera said: “The new research and manufacturing facility marks an exciting new era for J.L. Morison and is also significantly, a key milestone for the industry. The facility will create employment for over 200 skilled and semi-skilled persons. It will enhance the use of new technology in the industry and facilitate a modern and technologically-advanced workplace for our employees. Most importantly, the establishment will focus on increasing the availability of an even wider range of high quality, efficacious pharmaceuticals in the country, thereby enhancing our self-sufficiency. This will help save valuable foreign exchange over the years and help bolster our nation’s foreign exchange earnings through exports. We thereby envision a multitude of benefits for all our valued stakeholders and the nation as a whole as a result of this operation. Every great journey begins with the first step. Today, we take that first step with revitalised aspirations, courage and commitment.”
He also stated that the new facility will contribute significantly in achieving near self-sufficiency in pharmaceuticals, while creating a stronger footprint in exports. A globally significant pharmaceutical manufacturing industry in Sri Lanka will be able to better support a robust national health policy that will benefit all Sri Lankans.
Driven by the increase in global trade in pharmaceutical products and the subsequent complex technical regulations related to medical safety and quality, there has been a push towards the harmonisation of international pharmaceutical guidelines and regulations by intergovernmental organisations at regional and international levels.
Thus, the partnership with SLINTEC is expected to drive cutting-edge innovation through both nanotechnology and biotechnology in creating innovative and effective pharmaceuticals, enabling Sri Lanka to be ready to compete in the global pharmaceutical arena.
J.L. Morison Son & Jones (Ceylon) Plc is a subsidiary of diversified conglomerate Hemas Holdings Plc, listed on the Colombo Stock Exchange with a focus on fast-moving consumer goods, healthcare, transportation and leisure.
- http://www.ft.lk/article/622525/J-L...search-and-manufacturing-facility-in-Homagama
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