Due to relaxation of Customs Duty -
35 p.c. growth in import of machinery - Industries Minister
By Shirajiv Sirimane reporting from Giriulla

There is an incredible 35% growth in importation of machinery for the local industry, observed Minister of Industries and Industrial Development C. V. Gooneratne.

The minister who was the chief guest at the opening of the Bieco Link Carbons (Pte) Ltd. the new plant at their factory complex in Giriulla added that this is due to the relaxation of Customs duty.

He said the government has reduced 40% duty on imported machinery for industry. The minister also added that the total earnings from industrial exports was Rs. 57 million last year and up to now this figure was Rs. 70 million. "This is a 28% growth", he said.

The minister also pointed out that 212 foreign investors have responded to the proposed Rs. 31.3 million industrial package. "We expect that this project would generate 70,000 employment opportunities", he said.

Xu Xukechen, Vice President Beico Link Carbons said that the vertical furnace installed at the factory complex was the first of it's kind in the world. "This machine will also minimize pollution and would increase production capacity by 2000 metric tons" he said.

P. K. J. Ratnasiri, General Manager Bieco Link said that the installation of the machine would cost the company Rs. 70 million. He also said that as part of their community development programme they have been purchasing coconut shells from schools from the Kuliyapitiya and Giriulla areas at a very competitive price.

The plant expansion has two sections: two rotary kilns for the production of activated carbon and a system of carbonisers/gasifiers for the production of coconut shell charcoal.

Beico Link Carbons (PTE) Ltd., (BLC) was established in October, 1987 with the approval of the Foreign Investment Advisory Committee to manufacture activated carbon from coconut shell charcoal. BLC is a joint venture between Link (Engineering) Limited, a Sri Lankan company, and China Beijing Corporation for International Economic Co-operation (BIECO) of the People's Republic of China. Commercial production of activated carbon commenced at the company's Giriulla factory exactly nine years ago (7th September, 1989) with one vertical kiln of design capacity 600 tonnes/annum.

World consumption of activated carbons is in the region of half a million tonnes per annum, with around 35% of this being used in water treatment, 25% in gas purification, 16% in gold recovery, 15% in food processing and 3% in solvent recovery. Other uses include odour-eating in soles for shoes, cooker hoods, pharmaceuticals and fuel vapour traps for automobiles.

Ceylinco Life tops premium income in private sector

Ceylinco Insurance's Life Division has reported the highest premium income among private sector insurers in the first half of 1998, retaining its position as the largest private sector life insurer in Sri Lanka.

According to latest figures released by the company, premium income in this period exceeded Rs. 465 million, and Ceylinco Life's share of the private sector's life market topped 40 per cent.

Describing this performance as "most encouraging", Ceylinco Insurance's Director/General Manager (Life) R. Renganathan said the company was confident it would continue to dominate the private sector insurance market in the year ahead.

He said the Life Division sold 20,338 individual life policies during the first half of 1998 and this represents a growth of over 22 per cent compared to the same period in 1997. The cumulative value of claims paid was Rs. 122 million as at end 1997. "We are also happy to announce that according to the actuarial valuation done of the company by Watson Wyatt World-wide, one of the world's leading firms of consulting actuaries, Ceylinco Insurance's life business has shown a healthy surplus in the year 1997 as a result of prudent financial management", Mr. Renganathan said.

He said Ceylinco Insurance, which completed 10 years of operations this year attributes its success to the calibre of its sales personnel, six of whom have qualified to attend the Million Dollar Round Table conference in USA, the highest international forum for top achievers in life insurance sales. The company is also the only insurer in Sri Lanka to have a batch of diploma holders from the Life Underwriter Training Council (LUTC) - USA.

Ceylinco Insurance is the successor to Ceylon Insurance Company Limited, which was the first company to be registered under the Registration Act in 1939 and has the biggest decentralised network of 68 computerised branches across the island with a sales force of over 2000.

National Quality Week and World Standards Day

The National Quality Week will be observed from Monday 12 to Sunday 18 October and the World Standards Day on Saturday, 14 October.

The theme for this year's World Standards Day & National Quality Week is "Standards in Daily Life"

The National Quality Week is a part of the on-going Quality Promotional Campaign started by the SLSI in 1984 and observed every year to create an awareness on the necessity of Quality Assurance in our daily activities at the Factory/Workplace.

The World Standards Day is celebrated on 14 October, an activity initiated by the International Organization for Standardization (ISO), and SLSI has arranged the NQW to coincide with the World Standards Day.

This is an annual public awareness campaign that encourages individuals and organizations to focus on the importance of Standardization, Quality and continuous improvement.

During the National Quality Week organizations are requested to hoist 'Q' Flags' in their premises. Arrangements have already been made with Lanka Salusala to have Q flags, available for sale at their outlets.

M. I. M. Workshop on Leadership & Corporate Strategy

Dr. A. Tilak Fonseka (Ph. D. Sri J., MBA-Sri J.) will conduct a one-day programme on Leadership & Corporate Strategy: The Sri Lankan Experience on 25th September 1998 at The Maharaja Auditorium, 146, Dawson Street, Colombo 2.

This workshop organised by the Maharaja Institute of Management (MIM) will focus on the application of the latest theories/practices in Leadership & Corporate Strategy in the Sri Lankan business and cultural environment. The contents include Organisational Leaders: Their Prime Tasks & Responsibilities, An exercise on Dr. Stephen Covey's 7 Habits of Highly Effective People, Leadership & Formulation of Company Strategy and Leadership in Practice.

ISO 14000: Meeting environmental and business goals

The American Chamber of Commerce (AMCHAM) in collaboration with US-AEP's Office of Technology Cooperation (US-AEP) in Sri Lanka organized a Seminar on ISO 14000, on Wednesday, August 26, 1998 at the Colombo Hilton. The seminar was sponsored by USAID's Technology Initiative of the Private Sector (TIPS) project, the National Development Bank (NDB)/ Environmental Resources Management (Lanka) Ltd. (ERM), and the DFCC Bank.

The Ambassador of the United States of America, Shaun E. Donnelly delivered the welcome address, followed by Deshabandu Karu Jayasuriya, Mayor of Colombo, who delivered the keynote address.

The seminar focused on ISO 14000 awareness, and the many benefits of ISO 14001 registration. Over 35 participants also attended the ISO 14001 Workshop on August 27 and 28 at the Colombo Hilton, sponsored by US-AEP and TIPS. The two-day workshop was designed to provide hands-on experience in developing an ISO 14001 system. Certificates were awarded to workshop participants by Mr. Spencer King, CEO/TIPS.

Mr. James Highlands, President, Management Systems Analysis, Inc. USA, conducted the seminar and workshop.

The three-day programme also focussed on the newly formed "ISO 14001 EMS Users Association". US-AEP and TIPS sponsored a meeting of 20 corporate members on July 21, 1998 to discuss plans for setting up the Association. Subsequently, the Association appointed an Executive Committee, Technical Committee, Finance Committee and Promotions Committee. Mr. Chandra de Silva, President of the Association, addressed the large gathering at the ISO 14000 seminar about future plans of the Association as it strives to achieve its objective of "working towards the adoption of ISO 14001 standards for industry and services in Sri Lanka as an EMS standard for sustainable development".

US-AEP and TIPS will be working closely with the Users Association over the next year on several ISO 14000 activities. With growing concern for the environment and the emphasis on corporate responsibility and sustainable development, the Users Association will become the means through which companies can realize the many benefits of ISO 14001 certification. This is particularly relevant as Sri Lanka strives to become globally competitive in the 21st century. Several new corporate and individual members enrolled in the ISO 14001 EMS Users Association during the three day program.

NIBM's 26th Training Workshop

The Faculty of Marketing of the National Institute of Business Management, inaugurated the 26th Training Workshop titled "How to be an Effective Sales/Marketing Representative" (English Medium) targeted to Sales/ Marketing Representatives, Junior Sales Personnel, Company Executives, Staff Officers, Management Trainees of Manufacturing, Trading and Service Organizations (Banking, Insurance, Shipping and Air Lines etc). The objective of the workshop is to provide the participants with sound theoretical and practical approaches to professional Selling of Industrial, Consumer and Service products.

This is the 4th Training Workshop for the year 1998 on this training topic. Course members of this training workshop represented leading Private & Public Sector Organisations.

The Central Bank's Spot Rates for transactions with Commercial Banks announced on the morning of September 16, 1998 were as follows:

The approximate middle exchange rates of following currencies calculated on the basis of cross rates quoted by Gulf International Bank, Bahrain as it appeared in Reuters Financial Information System on September 16, 1998 were as follows:

Average rates at which the following currencies were quoted by Commercial Banks in Colombo for Telegraphic Transfers at mid-day on September 16, 1998 were as follows:

Average Weighted Prime Lending Rate (AWRP) and Lowest Prime Rate (LPR)
The Average Weighted Prime Lending Rate (AWPR) during the week ended September 11th, 1998 was 15.1 per cent for all banks. The Lowest Prime Rate among banks during this week was 13.8 per cent.

Average Weighted Deposit Rate of Commercial Banks (AWDR)
The Average Weighted Deposit Rate (AWDR) of Commercial Banks for the month ended August 31st, 1998 was 9.6 percent.