Business
BOI and Sea Horse Yachts sign up for US$ 58 mn investment
Sea Horse Yachts (Pvt) Limited (SHY) of the Maldives, will invest USD 58 million (LKR 11.5 billion) to set up and operate a state-of-the-art yacht building facility at the Hambantota International Port Group (HIPG) premises, a BOI news release said.
Production is set to commence by early 2022 and the project will generate over 500 direct and indirect employment opportunities, it said.
The newly incorporated SHY, is a premium luxury yacht manufacturer and will be managed by a highly experienced team of experts from Sri Lanka, in corporation with British, European, and South African innovators and designers, it added.
Sanjaya Mohottala, Chairman BOI Sri Lanka said, “We are sincerely delighted to welcome Sea Horse Yachts (Pvt) Limited as a BOI approved company. As we introduce yet another progressive partnership to the investment portfolio of the country, we are confident that they will add significant value to the BOI’s strategic mission to lead the orchestration in attracting market transforming FDI.
“As SHY progresses to add economic value to Sri Lanka, we have every reason to believe that the company will also deliver significant value to the larger eco system as a generator of employment opportunities. Equally, as the company has a rich network of expertise gathered through its international network, we are confident that it will provide local talent with a competitively advantageous opportunity to gather and enhance their skills in premium luxury yacht manufacturing.”
Ali Hussain Didi, President Sea Horse Yachts Private Limited said, “Sri Lanka is uniquely positioned for this ambitious venture with its strategic geographic location, which enables optimal connection to global shipping routes, and allows for ease in shipping and resourcing.
“We wish to thank BOI Sri Lanka for all the assistance rendered and for all the incentives SHY has been able to secure and the competitive advantage that has accrued as a result of this close working relationship.”
As SHY commences its new journey in Sri Lanka, Sea Limousine, a private company in Maldives, has already confirmed an order with SHY for nine units of 30-meter luxury high speed ferries and twenty units of 14-meter luxury high speed feeder yachts, which totals a combined market value of over USD 100 MN.
SHY is also in negotiations with Brythonic Yachts of UK to assemble 4×45 meter and 2×120 meter super and mega yachts respectively, the release said.
Business
AHK Sri Lanka champions first-ever Sri Lankan delegation at Drupa 2024
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
Business
HNB General Insurance recognized as Best General Bancassurance Provider in Sri Lanka 2024
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”