Top businessman says Sri Lanka an exiting place to invest in

By Ifham Nizam

Renowned business leader, Harri Selvanathan thanked President Mahinda Rajapaksa and Economic Development Minister Basil Rajapaksa for taking quick initiatives to make Sri Lanka as the exciting place to invest in 2011.

Speaking at the annual Business Today Top 20 Awards ceremony last week in Colombo, representing Bukit Darah as the Managing Director, Selvanathan said as requested by him during last year’s award ceremony to make Sri Lanka a conducive environment for business, he was happy to witness that Sri Lanka being the best performing stock market.

He appreciated the Government for taking initiatives for rapid infrastructure development and giving low interest rates for conducive business development in the country.

He expressed confidence that the Company will be in a position to further expand their businesses.

Hatton National Bank Managing Director Rajendra Theagarajah said he was happy to see the end of the challenging 12 months and come out with flying colours and map the Bank with the nation’s journey.

John Keells Holdings Director Ronnie Peiris said that his Group will work and contribute towards the future contribution of Sri Lanka.

He thanked the dedicated stakeholders and the prompt initiatives for development by the Rajapaksa government for achieving the number one spot at the awards.

For 2009/2010 John Keells Holdings got the first spot from number three ranking last year. Transport was the main contributor to the Group’s after tax profits, contributing 41 per cent. Operation of the South Asia Gateway Terminals at the Colombo Port was the main driving factor for JKH.

Country’s premier private bank, Hatton National Bank and Bukit Darah secured the second and third slots.

Overcoming both external and internal hardships the Hatton National Bank recorded a 35 per cent growth in profit after tax and posted Rs 4.3 billion profit after tax. Bukit Darah’s consolidated profit after tax had increased to 158 per cent.

The Ceylon Tobacco Company ranked fourth while Commercial Bank of Ceylon secured the fifth spot. Colombo Dockyard was placed sixth, Sri Lanka Telecom at seventh while DFCC Bank secured the eighth position. Completing the top ten were Hayleys at ninth and Distilleries Company of Sri Lanka at 10 positions.

The ranking continues with NDB Bank at 11, Sampath Bank -12, Aitken Spence -13, Cargills - 14, Lankem - 15, Lanka Orix Leasing Company – 15, Chevron Lubricants – 16, Nestlé Lanka – 16, Tokyo Cement Company 17, Diesel & Motor Engineering – 18, Seylan Bank –19 and Lanka Walltile -20.

Adopted from: island.lk