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FR Page 2.Qxd Page 2 Markets Thursday 27th October, 2011 Asean losing Access Group among top 20 steam from global slowdown, says most respected companies Moody’s unit at the same time realize the responsi- The downbeat global ond quarter due to !Engineering Unit to go public in 2012 bility that this type of recognition environment will weigh weaker global demand thrust on us, I have no doubt that as a on growth among the and supply-chain dis- Sri Lanka’s premier business maga- As iterated by LMD, company we will dedicate ourselves to founding members of ruptions. zine LMD, with its unique corporate the Access Group of act in a manner that justifies this Asean for the remain- For example, in the honour roll that benchmarks the coun- Companies is a conglom- recognition.” der of the year and into quarter, Singapore was try’s Most Respected Entities, posi- erate, with one of the Working on the ethos of building 2012, besides which the hardest hit, growing 0.9 tioned Access with its multi-sector largest portfolios of partnerships (both internal and exter- floods in Thailand may per cent year on year, engineering expertise within the Top international principals nal) one of the key business units of raise food prices, after expanding 8.3 per 20 of its Most Respected Entities. being represented. the Access Group, Access Engineering according to Moody’s cent in the first quarter, From being in the top 100 Most Under this umbrella, sev- hopes to go for a stock exchange listing Analytics. the research unit said. Respected at 56 last year, Access was eral companies within in the Colombo Stock Exchange in the The research unit of With the bleak out- placed at 11, a phenomenal jump of 45 the Group have become first quarter of the calendar year 2012. Moody’s Investors look, Moody’s places which certainly makes for an spearheads and pioneers, Access Engineering which is a flag- Service said in a report Analytics’ view is that iconic corporate positioning. With proactively leading large ship company of the Access Group, that the deteriorating monetary tightening is this, Access gained entry into the LMD scale mega development remains at the forefront of the civil external situation now off the cards. Most Respected Entities Hall of Fame projects geared at engineering sector in Sri Lanka with would cap overall Inflationary pres- (the Top 20), calling the company one of improving national infra- its unmatched expertise in diversified Aseangrowthbelow sure in Asean is mod- the movers and shakers who climbed structure. Access competencies in value engineering that trend at about 4.8 per erating as global energy up the hill into the honour roll. It is International, which in includes turnkey solutions, ranging cent this year, and and food prices come interesting that the survey, commis- two decades since its from design, procurement, construc- slightly weaker in 2012. off the boil. Meanwhile, sioned and conceptualised by LMD and incorporation has gained tion and commissioning of multi-disci- “Thai industry is moderating global con- conducted by The Nielsen Company, an unprecedented repu- plinary engineering projects across growing at two speeds, ditions will flow sampled 800 businesspeople within tation of being associat- varied sectors. Ranked by ICTAD, Sri with producers selling through to slower pro- Greater Colombo to represent a mix of ed with some of the Lanka’s governing body for the con- to the domestic market duction, employment the entities operating within Sri largest infrastructure struction industry as a Specialist faring better than their and wages, reducing Lanka. The systematic random-sam- development projects Contractor with the highest No. of C1 export-dependent coun- upward pricing pres- pling technique included telephone funded by the World grading gives the company the ability terparts - textiles, cloth- sure through next year, interviews conducted with business Bank, Asian to be involved in all major civil con- ing and electronics are it said. leaders, managers and executives in Development Bank, struction disciplines. feeling the pinch from a However, an upside Colombo within March and April of JBIC-Japan, SIDA- “Our achievements thus far would weaker global economy. risk to inflation is high- 2011. Sweden, DANIDA- in all probability be more than enough “The floods in er prices for rice, a sta- LMD stated in its special Most Denmark, ECGD-United for other companies, but certainly not Thailand, set to last ple food in Asia. Respected Entities in Sri Lanka edi- Kingdom etc. for us. This is because Access is another four to six Flooding in tion, “One of the fastest growing cor- Access Group manned by one of the most dynamic weeks according to Thailand, the world’s porate entities in Sri Lanka with its east of Sri Lanka, Access Engineering Chairman Sumal Perera says, “ Access teams in the country, for whom raising government estimates, largest rice exporter, core business and growth coming from says it is assessing potential of sourc- while considering it a great honour the bar is habitual. We will nurture are expected to shave has damaged around 20 trading activities infrastructure proj- ing offshore business opportunities as and privilege to enter the Top 20 as a our strengths and improve our compe- up to 1 percentage per cent of the coun- ects and engineering services, Access well. The group, which announced it first generation business entity, within tencies, permeating this to strengthen point from 2011 GDP try’s crops. The export represents prestigious international would be listing this year, is involved a short time span of just over 2 our existing business units, while con- (gross domestic prod- price for Thai rice - the brands in Sri Lanka and Asia in a wide in water-sector operations in decades, this is once again ample proof tinuing our aggressive growth plan uct) growth, pushing benchmark price in range of business activities.....In addi- Hambantota and Batticaloa and in of the dedication and commitment and injecting the industry with innova- the forecast (currently Asia -has increased 26 tion to tapping new opportunities in rehabilitation projects in the north and with which the employees of Access tive value engineered products and 3.7 per cent) below 3 per cent since the end the emerging markets of the north and east.” have carried out their duties. We also services,” Perera said. per cent year on year,” of May and is likely to the report said. Except rise further in the com- for Indonesia, the ing months as alternate The World Bank has warned that increased the demand for trade financ- portfolio of banks. “Since these pressures are not likely economies of the supplies in India and the government’s excessive borrowing ing including letter of credit facility, This will ultimately reduce loanable to ease in FY12, the concerns will con- founding members of Pakistan are unlikely from the banking sector and using adding to liquidiy pressures. funds of the banks, the WB said. tinue and could even intensify over the Asean - the others to absorb the shortfall. banks to stabilise the stockmarket will Also the increase in interest rates It said all these factors can hinder course of the year,” the WB update being Singapore, With most Asean make the country’s financial sector said. Thailand, Malaysia currencies depreciating weak and ultimately dampen growth. Explaining the macroeconomic and the Philippines - since August amid The WB in its latest economic pressures in the banking system, the are reliant on external heightened risk aver- update released yesterday said, “These WB warns Bangladesh govt WB report said the government’s demand to drive sion, imported inflation pressures could hurt the efficient allo- increasing reliance on domestic financ- growth. Following could add to price pres- cation of capital and dampen economic ing is raising concerns on crowding out Japan’s natural disas- sures, the report said. growth.” and the problems in the textile sector the banking system in its role of allo- domestic financing of the deficit, most ter in March, all suf- The WB also said the significant arising from liberalised rules of origin cating resources to private activities of which came from banks. fered dearly in the sec- (ANN) rise in export and import trade has could add to the non-performing loan with the best possible returns. (The Daily Star/ANN) EXCHANGE RATES PETTAH MARKET COCONUT PRICES 25- Oct-11 in SLRs. 25-10-2011 FRESH COCONUT (Industry use) (1) The average rates of the following currencies quoted by commercial banks in Colombo for (a) CDA - Colombo Auction (20 -10-2011) Farm Gate Prices per 1.000 Nuts Highest . .27,010 T Telegraphic Transfers (TT) at 9.30 a.m. are as follow. Average . .21,769 T Lowest . .18,000 T Currency . .Buying Rate . .Selling Rate Nuts Offered . .1,684,070 Nuts Traded . .1,245,097 U.S.Dollar . .109.42 . .111.05 Next Auction on 27 -10-2011 at 10.00 a.m. at CDA Marketing Division Office, 11 Duke Street, Colombo 1. Sterling Pound . .174.36 . .178.37 (b) CDA - Kuliyapitiya Auction (12.10.2011) Farm-gate Price per 1,000 Nuts Euro . .151.33 . .155.44 Highest . .24,500 T Average . .22,739 T Swiss Franc . .123.26 . .127.27 Lowest . .20,000 T Nuts offered . .166,270 Canadian Dollar . .108.30 . .111.55 Nuts Traded . .69,270 Farm - Gate Balled nuts price Rs.Per MT . .- Australian Dollar . .113.62 . .117.33 Next Auction on 25 -10-2011 at 10.00 a.m. at Sirimadura, Kuliyapitiya Singapore Dollar . .86.15 . .88.61 (c) CDA - Beliatta Auction (31.05.2010) Farm-gate Price Rs./1,000 Nuts Highest . .20,000 T Japanese Yen .
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