Business
CMA presents annual report to State Minister
Chairman of Condominium Management Authority (CMA) Sarana Karunaratne, Attorney-at-Law presented its first copy of the Annual Report 2020 to State Minister of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness Dr. Nalaka Godahewa and the Secretary to the Ministry Sirinimal Perera recently. The General Manager of CMA Dr. Indunil Liyanage also participated for this occasion.
Condominium Management Authority (CMA) was established under the Act of Parliament No.39 of 2003 to regulate and monitor Government and private sector condominiums in the country. Since 2003 CMA established 1,126 management corporations to monitor and regulate individual condominiums in the country which amounts to approximately 38,573 apartment units. CMA consists of various divisions to support this endavour namely, engineering, customer care, certificate issuance, administration and human resources, legal, finance, information technology and internal audit. Condominium Management Authority is a self-funded (profitable) institute functioning under the State Ministry of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness.
According to “Vistas of Prosperity and Splendour” policy statement of His Excellency the President, Government has a pledge to provide a house to each family in the country and in line with that CMA has planned several activities to regulate and monitor common amenities and common elements in condominiums of Government and private sector.
In line with “Vistas of Prosperity and Splendour” policy statement of His Excellency the President, CMA has taken steps to reduce its certificate issuing fees for Government sector condominiums which are over 5001 square feet to provide that benefit to its unit owners.
According to the act, CMA will play a significant role in the development of Port City. A plan has been developed by CMA for the Port City development activities under “One Stop Shop” concept introduced by UDA to expedite the approval process within a short period of time to meet foreign and local investor demands.
Year of 2020 was an exceptional year where every citizen in this country and globally had to experience the bitterness of Covid 19 pandemic and the construction industry in the country also faced a down turn and a standstill during this period. It was a very challenging year for CMA in terms of tough economic conditions due to Covid 19 pandemic and the country was locked down twice during 2020. As of 31st December 2020 CMA achieved a Rs.203 million income which was 2.6% over 2019 and the operational expenses was brought down by 8% compared to 2019. Net profit (PAT) for 2020 was Rs.32.96 million which was 80% increase compared to 2019 achievement of Rs.18.19 million. CMA has achieved excellent financial results by superseding its budget as of 31st October 2021. Achieved a revenue of Rs.304 million and a net profit of 142.1 million and brought down the cost below the budget 2021. Also CMA donated Rs.10 million in 2020 to the Covid fund as its Corporate Social Responsibility (CSR) towards the nation. A 5 year Corporate Plan, Action Plan, Budget, Procumbent Plan, Delegated Authority and Audit Plan for 2021 were completed in December 2020 with the participation of the senior management team of CMA.
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.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
