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In Brief

Feb 19, 2011 2:28:50 PM - thesundayleader.lk

Fridges Consume 51% Electricity
Air conditioning takes 78% of the electricity bill followed by lighting (16%), but in an un air conditioned house, the fridge with 51% of electricity intake is the paramount consumer, followed by the television (13%), rice cooker (12%) and lighting (8%).
Intake of electricity in fridges increases in the opening and closing of fridge doors.
The power generated by a 20 Watt (W) CFL bulb and a 15 W LED bulb is equivalent to the power generated by a 100 W incandescent bulb-Power and Energy Minister Patali Champika Ranawaka speaking to reporters on Wednesday.
At B’desh

Latvia’s Honorary Consul General Thomas F. Daetwyler’s Personal Assistant Ms. Nawziya Hossen represented Latvia at the Inaugural Forum of Consuls in Bangladesh Ceremony which was held recently.
Chief Guest was Bangladesh President Md. Zillur Rahman and World Federation of Consuls President Arnold Foote (special guest). A large number of honorary consuls from many nations participated. The opening address was made by Forum of Consuls in Bangladesh Founder Chairman S. K. Kasem Khan.
Rs. 55 Mn. On Offer

Over LKR 55 million will be awarded as financial support to individuals and organizations working in the fields of Nutrition, Water and Rural Development by Nestle.
The prize was launched in 2009  and  offers advice and financial support of up to CHF 500,000 (more than US$ 480,000 or LKR 55 million) to an individual, non-government organisation, or small enterprise working in the field of nutrition, water, or rural development. The Prize Laureate is supported by a financial commitment over a period of time to assist in the development of their project or innovation.
The very first Nestlé Prize in Creating Shared Value was awarded in 2010 to International Development Enterprises (IDE) Cambodia which was selected from more than 500 applicants from 79 countries.
Recipient of this year’s award will be announced next year.
Nestlé Lanka PLC Chairman  and Nestlé South Asia Region Head Antonio Helio Waszyk commented on this award.
Fly Cathay

Cathay Pacific Airways has launched attractive fares and packages to Bangkok and Singapore.
This offer is available till February 28 and passengers can travel until April 30.
Cathay Pacific Airways, Colombo Sales and Marketing Manager Ruhan Abbas said, “Cathay provides convenient flight schedules with our customers’ comfort and convenience in mind, always living up to our motto of rendering service straight from the heart.” The airline operates three times weekly to Bangkok and four times weekly to Singapore.
Furthermore, Passengers may also enrol for the frequent flyer programme Asia Miles and enjoy a host of travel benefits. Business Class passengers can enrol for Cathay’s exclusive loyalty club Marco Polo Club free.
Cathay Airways is represented in Sri Lanka by Finlays Colombo PLC as General Sales Agent.
Waste To Fuel

Washington State Public Lands Commissioner plans to propose legislation to promote aviation fuel out of wood waste as part of the Natural Resources Department’s forest biomass programme.
Meanwhile the average price of aviation jet fuel as of January 14 was US$ 111.70 per barrel, up 7.1% on the month and 27.2% year on year reports the International Air Transport Association (Washington Aviation Summary).
Bukit Profits Down 11%

Bukit Darah PLC in the third quarter (3Q) ended December 31, 2010 saw net profits decrease by 11.48% year on year (YoY) to Rs. 506.83 million. Cumulative net profits in the nine months ended December 31, 2010 decreased by 13.04% YoY to Rs.2,353.76 million. Annualised EPS Rs.30.77, P/E (x) (on annualized EPS) 50.06 and PBV (x) 12.24. “Reduced due to minority interest despite 29% increase in profit after tax.”
ACL Profits Up 356%

ACL Cables PLC in the 3Q ended December 31, 2010 saw net profits increase by 355.71% YoY to Rs. 118.16 million. Cumulative net profits in the nine months ended December 31, 2010 increased by 262.71% YoY to Rs.222.11 million. Annualised EPS Rs.4.94, P/E (x) (on annualized EPS) 17.80 and PBV (x) 1.31. “Much improved earnings thanks to improved revenues and margins as company shrugs off effect of hedging.”
Leyland Profits Up 46,386%

Lanka Ashok Leyland PLC in the 3Q ended December 31, 2010 saw net profits increase by 46,386.13% YoY to Rs. 707.85 million. Cumulative net profits in the nine months ended December 31, 2010 also increased by a similar amount and speed. Annualised EPS Rs. 260.66, P/E (x) (on annualized EPS) 11.64 and PBV (x) 9.21. “Increased revenue on the back of sharply increased vehicle sales in the construction segment drove earnings growth” (Source: John Keells Stock Brokers).