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Anantaya Resorts & Spas Chilaw and Passikudah recognized

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Anantaya Resort & Spa Chilaw and Anantaya Resort & Spa Passikudah, Sri Lanka, operated by LAUGFS Leisure Limited, have once again been awarded TripAdvisor Traveler’s Choice Awards for the year 2020. Both resorts have received the accolade which highlight a consistent and large amount of positive reviews from guests and represent the top 10% of properties available on TripAdvisor for a geographic region.

Nestled in the sun-bathed coastal town, Anantaya Chilaw is dedicated to offering infinite luxury and tranquillity to its guests. The resort provides world-class hospitality and is well equipped to cater to all the needs of its guests. Its 91 luxurious rooms and suites are designed to provide soothing comfort and relaxation to all its guests and the expertly trained staff are ready to provide unrivaled service for anyone seeking to escape the hustle and bustle of everyday life. The resort also features an extensive range of convention facilities for business conferences and functions, serving as the ideal venue for professional settings with a refined touch of class and elegance. Designed specifically to harmonize with the natural beauty of Chilaw, the resort is one of a kind in Sri Lanka, seamlessly creating an environment of serenity and romance that truly encapsulates Sri Lankan hospitality. Anantaya Chilaw was recently certified safe for COVID-19 Management Systems by the Sri Lanka Standards Institution (SLSI). (LAUGFS)

Anantaya Passikudah, tucked away in the heart of the glowing East Coast of Sri Lanka, is an award-winning and renowned resort recognised with multiple international awards for its sublime serenity, customer excellence and harmony with nature. The 5 star luxury resort features 55 beautifully designed rooms, suites and villas and is a haven for travelers to indulge in its exquisite cuisine, luxurious personalised service, wellness and spa facilities as well as a range of beach activities. Anantaya Passikudah also provides a pristine location and experience for a host of events, with its banquet hall and windswept shore at sunset creating a scene of otherworldly beauty for weddings and honeymoons. The resort offers an exotic range of cuisine with a delightful fusion of local and international flavours prepared by expert chefs. Despite the challenges that the year has brought, 2020 marks the 3rd consecutive year that Anantaya Passikudah has received the Traveler’s Choice Award, symbolizing its undeterred dedication towards providing each of its guests with a hand-crafted and unforgettable experience.

 



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Cabinet approves rationalization of VAT exemptions and abolition of SVAT System

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The Cabinet of Ministers granted concurrence to the resolution forwarded by the Minister of Finance, Economic Stabilization and National Policies to remove most of the releases from Value Added Tax (VAT), further retaining releases that ease the pressure on low – income families to secure the fundamental sectors of the economy as well as the releases for sectors such as education, health and agriculture, as well as to revise the provisions applicable for the Value Added Tax (VAT) act so that the Simplified Value Added Tax (SVAT) methodology can be canceled with effect from 01.01.2024 by introducing a more formal methodology for repaying the Value Added Tax (VAT) and to instruct the Legal Draftsman to prepare a draft bill for the purpose.

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Venora Lanka Power Panels to set up assembly plant in Australia

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Sagara Gunawardene

By Hiran H.Senewiratne

Sri Lanka- based, export- oriented manufacturer, Venora Lanka Power Panels (Pvt) Ltd, with a state of the art electric panel factory at the Export Processing Zone, Biyagama, will set up an assembly plant in Australia.

“Once we set up the electric panel assembly plant in Australia, we will export all our panels from Sri Lanka and that plant will do 30 percent value addition to the product to supply that market, the company’s chairman/ Managing Director, engineer Sagara Gunawardena told The Island Financial Review.

Gunawardena said that the company is a value- addition assembly plant and he would be investing AUS $ 2 million for the project to be set up in Melbourne and hire 100 engineers and other professionals. He explained that the venture has enormous potential.

Venora Lanka provides power panels to mega projects in Sri Lanka and exports to Bangladesh, Maldives, Kenya, Ethiopia, Seychelles and Myanmar. Panel assembling is strictly in compliance with IEC 61439 standards, it was explained.

Gunawardena added: ‘I firmly believe that, being a truly customer focused organization, every employee and every process in the organization has to be aligned behind delighting customers. Therefore, at a time when the country is facing a major dollar crisis, my company would be aiming at bringing dollars into the country, while providing employment for local professionals, especially engineers.

‘At Venora Lanka we do not try to change customers’ mindsets. Instead, we take time to understand what they really want and focus our brand on delivering that. Venora is values- driven first and cost- driven second – creating a unique brand proposition.

‘Since the US dollar rate has come down, it is our concern that importers and suppliers do not change their prices, which is really affecting the manufacturing sector.

Company sources added: ‘The company has several wings of operation, such as local and overseas projects, switch board assembling, telecommunication infrastructure installations, earthing, lighting and surge protection, incorporating world renowned brands.

‘Venora Lanka Power Panels is the first Sri Lankan company to receive the licence, in accordance with the UK Trade Mark Act 1994, to use the trade mark “Best Enterprise”. It won a global award at the event, ‘Golden Awards for Quality and Business Prestige’, held in Geneva, Switzerland, in 2015.

‘Within a short span of time, with the perfect blend of progressive thinking and expertise, Venora Group has expanded to consist of, Venora International Projects, Venora Telecom, Venora Industrial Solutions and Venora Lanka Power Panels (BOI approved). Further, Venora has established its overseas presence through Venora Engineering Kenya and Venora Engineering Myanmar.’

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Share market moves into positive territory; indices up

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By Hiran H. Senewiratne

CSE trading got off to a positive note yesterday but during the last session of the day the momentum slowed. However, the market is now moving towards positive territory following the Central Bank announcement of a downward trend in interest rates, market analysts said.

Amid those developments the market witnesses improvements in both indices and in the turnover.

The All- Share Price Index up by 12.8 points and S and P SL 20 rose by 6.97 points. Turnover stood at Rs 710 million with one crossing. The crossing was reported in JKH which crossed 430,000 shares to the tune of Rs 60.2 million; its shares traded at Rs 140.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 212 million (1.5 million shares traded), Access Engineering Rs 44.7 million ( three million shares traded), Lanka IOC Rs 34.5 million (264,000 shares traded), Browns Investments Rs 28.6 million (5.3 million shares traded), LOLC Finance Rs 23.8 million (4.7 million shares traded), Capital Alliance Rs 22.9 million (615,000 shares traded) and First Capital Holdings Rs 19.2 million (574,000 shares traded). During the day the 31.4 million shares volumes changed hands in 9000 transactions.

Yesterday, the Central Bank’s US dollar buying rate was Rs 285.16 and the selling rate Rs 298.85.

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