Business
CMTA raises concerns over used vehicle assembly proposal
The Ceylon Motor Traders Association (CMTA) says that it understands the Government’s decision to restrict vehicle imports in order to safeguard foreign exchange reserves and keep the currency stable in the wake of COVID-19 from early 2020.
However, the CMTA was disappointed to learn that a cabinet proposal to allow assembly of vehicles with used parts was being considered and if passed would be violating many laws and regulations for vehicle assembly. The CMTA has vehemently opposed this proposal, which raises many concerns over the safety standards, durability and reliability of vehicles assembled from used parts of questionable quality.
CMTA Chairman, Yasendra Amerasinghe said, “This proposal puts the potential owners of these vehicles, as well as the general public at grave risk, as there are no practical means to ensure that the parts being used are without defects that could lead to road accidents, or even vehicles catching fire. It also means that the Government will be defrauded of billions of tax revenue as this proposal will enable the assembler to pay only spare parts duty on the depreciated value of the used parts, which is only a small fraction of that of an imported car.”
Furthermore, the CMTA argues that it is extremely unfair to the motor industry to consider such a proposal while many LCs that had been opened before the import restrictions are still on hold by the Government. Moreover, in March 2021, the CMTA, at the request of Dr. P. B. Jayasundera, had submitted a proposal on a quota system for a minimum level of vehicle imports that would allow the industry to survive without needing to resort to further job cuts. The CMTA urges the government to prioritize and take necessary action regarding this critical issue faced by the entire motor industry, which is also affecting the general public who have been subjected to soaring vehicle prices due to the lack of supply of vehicles to the market.
Founded in 1920, the Ceylon Motor Traders Association (CMTA) is the only Ceylon Chamber of Commerce affiliated trade body that represents vehicle manufacturers through their locally appointed franchise holders (commonly called ‘agents’). It is the most senior automotive trade association in the region. The members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, developing a talent pool that is trained and employable internationally. CMTA members are all audited by the manufacturers they represent, and the vehicles they import are shipped directly from the factory, designed to meet country specific requirements.
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.”
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