Major investments for SL hospitality sector
Sir Lana would add 3,000 star class hotel rooms
by the year end with over 1,000 rooms being added in
Passikudah.Deputy Minister of Economic Development, Lakshman Yapa
Abeywardane told ‘Daily News business’ that with peace, Sri Lanka
has become a investment paradise for both local and foreign
hoteliers and investors. The Citrus group which opened in Hikkaduwa
would add around 100 rooms in Waskaduwa. Director of the group Mani
Sugathapala said that the response for their new hotel in Hikkaduwa
was very good as they maintained 95% occupancy since their opening.
Janashakthi Insurance posts Rs 7.13 b income
Janashakthi Insurance PLC, Sri Lanka's third
biggest insurer, posted a total income of Rs.7.27 billion while
total gross written premium income rose 16.0 percent to Rs.7.13
billion for the year- ending December 31, 2011, the best ever
performance of the Company. Non-life insurance business rose 18
percent to Rs.5,256 billion during the period under review.
Kelani Valley Group records Rs 463 m net profit
The Kelani Valley Group posted a post tax profit
of Rs 463 million in 2011 despite a sharp decline in the tea market
at the end of the first quarter, down turn in rubber prices in the
latter half of the year and impact of the wage increase in April,
KVPL Chairman Mohan Pandithage said.