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Asia Capital appoints Raju Radha as MD

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Asia Capital PLC, a prominent player in the business landscape, has announced the appointment of Raju Radha as its new Managing Director.

Radha, previously serving as an Independent Non-Executive Director, has transitioned into the role of Executive Director, bringing a wealth of expertise and experience to his new position.

With a B.Sc. in Business Management from the University of London, Radha boasts a diverse background in various business domains, including shipping, logistics, media, property development, and trading.

His extensive career includes key roles such as Managing Director of Sea Services Ltd. (the first Sri Lankan ship-owning feedering company), Director of Greenlanka Shipping Ltd., and Chairman of Vauxhall Shipping Ltd. (a joint venture with Aitken Spence PLC).

Radha has played pivotal roles in media as the founder Director of Radaan Media Works India Ltd. and a Director of Radaan Talent Factory (a joint venture with Capital Maharaja).

Currently, he holds the position of Managing Director at SAR Shipping Ltd., SAR Maritime Ltd., SAR Trading Ltd., and serves as the Chief Operating Officer of Greenlanka Property Developer Ltd.

The strategic appointment comes amid a dynamic period for Asia Capital PLC, signaling a focused effort to leverage Radha’s extensive knowledge and leadership acumen. Malaysia’s Vijayeswaran S Vijayaratnam, controlling over 80% stake in Asia Capital, emphasizes a commitment to steering the company towards continued success under Radha’s guidance.

Raju Radha’s elevation to Managing Director is poised to contribute significantly to Asia Capital PLC’s ongoing growth and diversification initiatives, solidifying its position as a key player in the business landscape.

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Tamarind prices skyrocket

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A shortage of tamarind in the local market has led to retail prices soaring above Rs. 2,000 per kilogram in the Hatton area, reports say.

The retail price of a Tamarind kilo previously ranged from Rs. 350 – Rs. 400. 
According to traders, the shortage is attributed to a poor tamarind harvest this season.

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New tax percentages for imported vehicles announced

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The government has announced the import tax percentages applicable to vehicles imported from February 2025.

According to the gazette notification issued in this regard, excise duties ranging from 200% to 300% have been imposed on vehicles. 

The gazette, issued by the President in his capacity as the Minister of Finance, is as follows : 

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Rice import deadline ends

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Sri Lanka Customs has announced that 167,000 MT of rice has been imported to Sri Lanka since the government has permitted imports.Customs media spokesman – Seevali Arukgoda has said that this includes 66,000 MT of Red Raw Rice and 101,000 MT of Parboiled Rice.

The deadline for importing rice ended at midnight yesterday (Jan 10).

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