Business and Economics
ICC incorporates flexible payment plans

International Construction Consortium, (ICC) one of Sri Lanka’s leading contractors has incorporated a flexible payment plans to their ongoing residential project Mount Clifford Residencies Homagama.

This is an initiative taken to allow potential home owners to procure prime properties in the condominium space.

Offering the entire urban living package for an unmatchable offer, investors are presented with a convenient payment scheme to purchase an 870 Sq Ft apartment that comes along with a series of facilities and amenities.

Apartments at Mount Clifford Residencies, Homagama consists of two bedrooms, two washrooms, of which one is en-suite, a living room, kitchen and a balconies that makes way for natural ventilation. Spread over two towers rising up to six floors each on a two acres land, mount Clifford residencies entails facilities such as a well-equipped gymnasium, swimming pool, herbal garden, jogging track, relaxing area, community room and 24 hour security amongst others. Investors are now able to acquire the high Return on Investment (ROI) property through strategically structured and secured payment plan.


Microsoft expands “Highway to a 100 Unicorns” initiative to support startups in Sri Lanka

Microsoft for Startups recently launched the Highway to a 100 Unicorns initiative in Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where only 56 startups were selected to the Emerge X program from six states, which have over 15000+ startups. The Emerge X winners have greatly benefited with global market access support, a 3-day founder bootcamp with world class mentors, access to funding, ongoing mentorship, and guidance on Azure, artificial intelligence, machine learning and more. Innovation is critical to unlocking inclusive economic growth in Asia Pacific; high income economies in the region invest three times more in research and development as compared to their peers. To spur innovative entrepreneurship, Microsoft will work closely with governments and industry partners to discover and nurture technology startups with a high potential to become truly global enterprises in the future.

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Sampath Sofa Panadura to invest in Form Factory

Sampath Sofa Manufacturing Company Dibbadda Panandura will invest over Rs. 40 million to construct a modern cushion latex form factory.

Chairman Managing Director, Sampath Sofa, Sampath Fonseka said that with most of the latex form is imported and in some instances the quality is questionable. “Due to this Sofas tend to shrink.”

He said that manufacturing latex form locally would also result in saving huge forex to the country and the price of Sofas in the local market too would come down making the product affordable even to a low income family.

He said that he has already obtained land for this project and he is in the process of importing machinery. “The latex form factory will also increase my value addition to almost 80%.”

Fonseka said that once the factory is operating from next February he also hopes to open his own show room in Colombo and would intensify his exports to Australia and the Gulf when the corona pandemic settles. “For the first time in Sri Lanka I will also introduce the ‘sofa trading concept’ from mid next year.”

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