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Sri Lanka-China Business Council Holds 23rd AGM: Haroun Cader Elected President for 2024-25

The 23rd Annual General Meeting of the Sri Lanka-China Business Council of the Ceylon Chamber of Commerce was held on 2nd July 2024 at Hilton Colombo Residencies, Colombo 02. The event was graced by His Excellency Qi Zhenhong, Ambassador of the People’s Republic of China to Sri Lanka, who graciously participated as the Chief Guest. Mr. Kusum Wijethilleke was the keynote speaker of the event. Mr. Tang Yandi, Economic and Commercial Counsellor, Embassy of the People’s Republic of China, Embassy Officials, and Government Officials also participated in the event.

The Sri Lanka-China Business Council, established on April 26, 2001, was formed under the aegis of the Ceylon Chamber of Commerce. The Council was formed at the request of the Ministry of Foreign Affairs with the main objective of promoting trade, investment, services, and tourism between Sri Lanka and China.

Mr. Haroun Cader of Sinwa Holdings Ltd. was elected by the members as the President of the Sri Lanka-China Business Council for the year 2024-25. Mr. M. H. M. K. Hameez of Spillburg Holdings (Pvt) Ltd. was elected as the Senior Vice President, and Ms. Nethmi Jayamaha of Sudath Perera Associates was elected as the Vice President of the Sri Lanka-China Business Council for the period 2024-2025. Mr. Sampath Kumara of David Peiris Motor Company (Pvt) Ltd. was elected as the Treasurer, and Mr. Chaminda Perera will serve on the Committee as the Immediate Past President. The Business Council members: Abans PLC, Acorn Aviation (Private) Ltd., Bank of China Colombo Branch, D P Logistics (Pvt) Ltd., eArrow (Pvt) Ltd., Gnanam Imports (Pvt) Ltd, HVA Foods PLC, Overseas Realty Trading (Pvt) Ltd., and Singer Sri Lanka PLC, were elected as Committee Members for the year 2024-25.

Mr. Chaminda Perera, Immediate Past President, expressed gratitude to Council members for their support and highlighted significant achievements during his tenure, such as organizing delegations from Chinese provinces and transforming the Christmas party into a Chinese New Year Lantern Party. Under his leadership, the Council launched Facebook and LinkedIn pages, enhancing connectivity. He thanked the outgoing committee and the Chinese Embassy for their support and wished the incoming committee success.

Mr. Haroun Cader, the newly elected President, thanked the members for electing him and emphasized promoting trade, investment, services, and tourism between Sri Lanka and China. His vision includes leveraging the Belt and Road Initiative, benefiting from the upcoming Free Trade Agreement, supporting innovation and technology, and promoting sustainable development. He concluded by expressing confidence in achieving these goals through collaboration and thanked all members, partners, and stakeholders for their support.

 

Committee Photograph 2024-25

Seated from left to right: Mr. Chaminda Perera, Ms. Nethmi Jayamaha, His Excellency Qi Zhenhong, Mr. Haroun Cader, Mr. M. H. M. K. Hameez, Ms. Aneesha Boteju

Standing left to right: Mr Adheesha Salpitikorala, Mr. Tharindu Mahawedage, Chandrika Ranawaka, Mr. Sampath Kumara, Mr. Kumudu Jayalath, Mr. Dhanushka Perera, Mr. G. Rajendran, Mr. Damith Jayawardana

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‘Onsen spa’ seen at entrance of HDB flat, netizens say structure is probably illegal

‘Onsen spa’ at HDB flat faces removal after netizen posts photo on Reddit

Netizens were incredulous when a photo of what looked like an onsen spa at the entrance of an HDB flat was posted on social media.

The photo, uploaded on Reddit on Tuesday (9 July), showed a raised wooden structure with small windows and a door protruding from the wall of an HDB corridor.

There were also short wooden steps leading to the door, and greenery surrounding it.

Source: Reddit

From the unit number of the neighbour opposite, the flat appears to be on the 12th floor.

Netizens say HDB ‘onsen spa’ is illegal

Some netizens who responded to the post thought that the onsen spa-like structure was “cute” and “cool”.

Source: Reddit

Others pointed out that it was likely not a real onsen, but the resident’s creative rendering of their entrance.

Source: Reddit

However, appealing as the structure might look, most agreed that it was illegal as it encroached into the public corridor and wasn’t moveable.

Source: Reddit

A commentator who claimed they’d seen something like it before said it was meant to be installed in the bathroom, and having it part of the entrance instead was “brazenly illegal”.

Source: Reddit

Netizens predict that HDB ‘onsen spa’ will be taken down

Typically, a number of netizens wanted to know how the resident managed to get away with this. They noted that the “onsen spa” seemed to be blocking the stairwell.

Source: Reddit

Another respondent said it looked “extremely flammable”.

A number of netizens also predicted that the resident would have to take down the structure since it has now attracted online attention.

Source: Reddit

One, not entirely jokingly, planted the blame squarely on the person who shared the photo if the structure had to be taken down.

Source: Reddit

Works cannot pose fire hazard or encroach on public area: HDB

According to HDB’s renovation guidelines, works that create a public nuisance, pose a fire hazard or encroach on the public area are not allowed to be carried out.

There is precedent for this — in 2019, a fish tank built on the front steps of a home in Tampines was ordered by HDB to be taken down.

Tampines Fish Tank Staircase Display That Beautified The Neighbourhood Is Gone

The reasons cited for its removal were that it posed a safety hazard and that the tank was built on common property.

This was despite Tampines GRC MP Baey Yam Keng hoping that the tank would be allowed to remain as it was “properly constructed” and “did not pose any obstruction to either the residents or to the public”.

Also read: Bukit Batok HDB Flat Is An Actual Ryokan With An Onsen Shower & Sliding Shoji Doors

Bukit Batok HDB Flat Is An Actual Ryokan With An Onsen Shower & Sliding Shoji Doors

Have news you must share? Get in touch with us via email at [email protected].

Featured image adapted from Reddit.

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Dialog Unveils Cutting-Edge VR Experiences at the Iconic Centre for Ultimate Thrills

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, continues its commitment to innovation with the launch of Virtual Reality (VR) Bungee Jumping and VR Cycling experiences at the Iconic Centre. Developed in collaboration with the Engineering Faculty of the University of Moratuwa and local content creators, these VR experiences offer thrilling and highly realistic simulations for customers.

The VR Bungee Jumping experience allows participants to feel the adrenaline rush of a jump from the renowned Lotus Tower Colombo, complete with the sensation of free-fall and stunning aerial views in a safe environment. The VR Cycling experience takes participants on a scenic ride through the beautiful landscapes, providing a lifelike adventure with the visual and auditory sensations of riding through Sri Lanka’s picturesque highlands.

By incorporating localized content, Dialog ensures that users can connect with and appreciate the beauty of Sri Lanka’s iconic landmarks and landscapes.

Dialog invites customers to explore these exciting VR adventures at the Future Zone on the Mezzanine Floor of the Iconic Experience Centre at the Dialog Head Office. This initiative underscores Dialog’s commitment to bringing innovative and interactive experiences to its customers, making technology accessible and enjoyable for everyone.

Photographed left to right: Asoke Rathnayake – Tech Lead – R&D , Dinuka Dayarathna – Project Manager , Manitha Abeysiriwardana – Gamer & Blogger , Nayan Dharmaraj – R&D Engineer , Viranga Seneviratne – Head of ICT and Platform Business , Geethan Samarawickrama – Associate Architect – R&D , Inuri Muthukumarana – Associate Lead Engineer – R&D , Nimna Gunawardene & Isuru Pathirana – Content Creators

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Monk in Japan recites a prayer every time he kills an enemy in Super Mario

Monk in Japan recites prayer for every kill in Super Mario

In a quirky twist on gaming and spirituality, a monk from Japan has turned Super Mario into a meditative experience.

Instead of the usual gamer battle cries, his every kill is followed by a solemn prayer and mini memorial service, all captured in a viral YouTube video.

The clip was posted by The NAMUZU, a Buddhist-themed entertainment channel, on 1 July and has since garnered more than 420,000 views.

Preaches Buddhist pacifism while playing Super Mario

Following the serene path of Buddhist teachings, the monk decided to embrace pacifism even in the pixelated world of Super Mario.

He’s no stranger to video games, though.

As the clip kicks off, he fondly reminisces about his childhood Super Mario escapades, admitting he used to squash every foe in sight without hesitation.

Now, he’s turned over a new leaf. No more unbridled stomping — just peaceful navigation through the Mushroom Kingdom.

Source: The NAMUZU on YouTube

Of course, he’s not taking blame for nature’s course. If an enemy decides to leap off a cliff on their own, he’d get away scot-free.

Even so, this endeavour proves to be quite the challenge.

Super Mario is a game revolving around killing

With great difficulty, the monk skilfully navigates the game’s first stage, successfully avoiding any confrontation with the enemies.

However, his peaceful streak hits a snag in the second stage.

After obtaining a Fire Flower power-up, he accidentally shoots a fireball and snuffs out a passing Koopa Troopa.

monk prayer super mario

Source: The NAMUZU on YouTube

The monk’s reaction is a mix of surprise and sorrow.

He promptly pauses the game, clasps his hands, and recites a sutra typically reserved for cremations — fitting, as the poor creature met its end by fire.

monk prayer super mario

Source: The NAMUZU on YouTube

This incident marks the beginning of a tumultuous journey, where the game’s attempts to thwart him clash with its inherent need for enemy elimination.

After numerous deaths, both of his character and his enemies in the game, the monk can only sigh at the realisation that Super Mario revolves around killing.

While he never finishes the game, he reflects on his experience in laughter and how the challenge has given him a different perspective on games.

Also read: Blackpink’s Lisa Pauses To Play Mario Kart On Fan’s Nintendo Switch During Australia Concert

Blackpink’s Lisa Pauses To Play Mario Kart On Fan’s Nintendo Switch During Australia Concert

Have news you must share? Get in touch with us via email at [email protected].

Featured image adapted from The NAMUZU on YouTube. 

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“Vision 2030” A Blueprint for Sustainable Development presented to the President

A comprehensive policy document titled ‘Vision 2030’, prepared by the Ceylon Chamber of Commerce, to guide Sri Lanka towards sustainable and inclusive development by 2030 was presented to President Ranil Wickremesinghe today (09) at the Presidential Secretariat.

This document outlines a strategic roadmap for Sri Lanka to achieve sustainable and inclusive development by the year 2030. ‘Vision 2030’ also analyses the economic trajectory Sri Lanka should follow over the next five years, detailing necessary policy changes across various sectors and their anticipated benefits to the economy.

Aiming for a 6.5% GDP growth rate, and inflation and unemployment rates below 5%, key goals include enhancing education, healthcare, agriculture, and digital infrastructure. Additionally, it calls for fostering public-private partnerships, implementing regulatory reforms, making substantial infrastructure investments, and ensuring climate change readiness.

Key figures from the Ceylon Chamber of Commerce attended the event, including Chairman Mr. Duminda Hulangamuwa, Vice Chairman Mr. Krishan Balendra, Deputy Vice Chairman Mr. Bingumal Thewarathanthri, Board Member Mr. Supun Weerasinghe, Secretary General / CEO Mr. Buwanekabahu Perera, Deputy Secretary General/Chief Operating Officer/Financial Controller Mrs. Alikie Perera, Sanjay Ariyawansa, and Manjula De Silva.

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Banks in S’pore will phase out OTP login for customers using digital token to protect against phishing

Banks in Singapore to phase out OTP login within next 3 months

The Monetary Authority of Singapore (MAS) has announced in a joint statement with The Association of Banks in Singapore (ABS) that major retail banks in Singapore will progressively phase out using One-Time Passwords (OTPs) for digital token users logging into their bank accounts.

The move will take place over the next three months to better protect them against phishing.

Customers who have activated their digital token on their mobile phones will have to use it to log into their accounts on the app or via the bank’s respective browser.

Source: Robin Worrall on Unsplash

The token will then authenticate their login without requiring an OTP which scammers can steal or trick customers into revealing.

MAS and ABS also strongly encouraged customers who have not activated their digital tokens to do so.

This would reduce the risk of having their credentials phished.

Banks to phase out OTP login for customers for better protection

The use of OTP debuted in the 2000s as a multi-factor authentication option to enhance online security, MAS and ABS said.

However, scammers have since used technological developments and more sophisticated social engineering tactics to more easily phish customers’ OTP.

Source: Jonas Leupe on Unsplash

For instance, they would do so by setting up fake bank websites closely resembling the actual websites.

Phasing out the use of the OTP will thus strengthen the authentication process. It will make it harder for scammers to access a customer’s account and funds without their explicit authorisation via their mobile devices.

MAS will continue working to develop measures against scams

“Phishing scams remain a concern in Singapore, and banks continue to work closely with MAS and the Singapore Police Force to develop and introduce solutions and measures to strengthen our collective resistance in the ever-evolving scam landscape,” MAS and ABS said.

Director of ABS Mrs Ong-Ang Ai Boon noted that the measure protected customers further against unauthorised access to their bank accounts.

“While they may give rise to some inconvenience, such measures are necessary to help prevent scams and protect customers,” she said.

Assistant Managing Director of MAS Ms Loo Siew Yee added that the measure complements good cyber hygiene practices that customers must continue to practise, such as safeguarding their banking credentials.

She stated, “MAS continues to work closely with banks to protect consumers by leaning hard against digital banking scams.”

Also read: DBS, OCBC & UOB introducing money lock features from 27 Nov, no digital transfers allowed

DBS, OCBC & UOB Introducing Money Lock Features From 27 Nov, No Digital Transfers Allowed

Have news you must share? Get in touch with us via email at [email protected].

Featured image adapted from Robin Worrall on Unsplash.

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NDB Bank Launches ‘SME Re-Energizer’ Loan to Empower SMEs and MSMEs at 7% Interest Rate

NDB Bank is proud to announce the launch of its new ‘SME Re-Energizer’ loan in collaboration with the Sri Lankan Government, designed to provide essential financial support to SMEs and MSMEs across Sri Lanka. This initiative underscores NDB’s commitment to empowering small and medium-sized enterprises and fostering economic growth by supporting the nation’s emerging businesses.

The ‘SME Re-Energizer’ offers investment loans up to LKR 15 million per SME client with a valid business registration, available at a highly competitive interest rate of 7% per annum. This scheme targets key sectors, including manufacturing, construction, exports, tourism, apparel, agriculture, and agro-based industries. With flexible repayments, the scheme aims to provide long-term financial solutions tailored to the specific needs of each business entity.

Eligible purposes for the loan include the purchase of assets such as machinery, equipment, or furniture for business expansion. The scheme also covers cost reduction initiatives such as solar installations and productivity improvements, vehicle purchases for the tourism sector, business expansion through the introduction of new or advanced technologies, and new constructions, expansions, or refurbishments of factories, buildings, or warehouses.

NDB Bank recognises the vital role that SMEs and MSMEs play in driving economic growth and innovation in Sri Lanka. By providing affordable financing options, the bank aims to enable these businesses to invest in their growth, enhance their operational efficiency, and achieve their strategic objectives. This initiative is more than just a financial product; it is a testament to NDB’s commitment to nurturing the entrepreneurial spirit and supporting the sustainable development of the Sri Lankan economy.

By empowering small and medium-sized enterprises, NDB Bank aims to invest in the future of the nation, create jobs, and foster a resilient and diversified economic landscape. By offering competitive financial solutions tailored to the unique needs of these businesses, NDB Bank is committed to supporting their growth and innovation, ultimately contributing to the broader economic prosperity of the country.

For more information on the ‘SME Re-Energizer’ loan and how it can benefit your business, please visit your nearest NDB branch or contact our customer service hotline. Together, let’s re-energize the future of Sri Lankan enterprises.

NDB Bank is the fourth-largest listed commercial bank in Sri Lanka. The Bank was named the Retail Bank of the Year (Sri Lanka) at Asian Banking & Finance Retail Banking Awards 2023 and the Best Corporate Bank 2023 by Asiamoney and also emerged as the Most Awarded Corporate in Sri Lanka in 2022 for the second consecutive year, as per the annual rankings of Sri Lankan publication LMD. The Bank was adjudged the Best Bank in Sri Lanka 2022 by Global Finance USA and Euromoney in their annual best bank awards programmes. Additionally, The Bank was named one of the “Top 50 Best Workplaces in Sri Lanka 2022” by Great Place To Work, USA. NDB is the parent company of the NDB Group, comprising capital market subsidiary companies, together forming a unique banking and capital market services group. The Bank is committed to empowering the nation and its people through meaningful financial and advisory services powered by digital banking solutions.

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Man in S’pore who killed 5-year-old daughter deemed medically unfit for caning

Man who killed daughter spared caning due to medical condition, will serve additional 6 months in jail

In April, a 44-year-old man in Singapore was sentenced to 34-and-a-half years in prison and 12 strokes of the cane for killing his five-year-old daughter.

The girl, Ayeesha, died from a head injury in 2017 after her father struck her face up to 20 times in the bathroom.

Source: Court documents via The Straits Times

However, due to existing medical conditions, the father has been deemed permanently unfit for caning.

Instead of caning, he will serve an additional six months in jail, The Straits Times (ST) reported.

Deemed unfit for caning due to degenerative disc disease & disc compression

During proceedings on Tuesday (9 July), prosecutors informed the High Court that the man suffers from degenerative disc disease and disc compression, making him medically unfit for caning.

unfit caning

Deputy Public Prosecutor (DPP) Norine Tan argued for the man’s jail term to be extended by six months, emphasising the importance of maintaining deterrent and retributive measures.

Conversely, the man’s legal team argued against additional jail time.

According to Channel NewsAsia (CNA), the defence highlighted that a medically exempted offender might not have anticipated avoiding caning.

They also claimed that if the initial jail sentence was already substantial, any added term would have minimal deterrent effect.

Judge agrees to impose additional jail term of 6 months

After considering both arguments, Justice Aedit Abdullah decided to impose an additional jail term of six months.

The judge emphasised that enhancing the man’s sentence would underscore society’s and the state’s condemnation of his crimes.

In addition to causing Ayeesha’s death, the man also abused her brother.

As a result of the mistreatment, Ayeesha’s brother was diagnosed with global developmental delay.

Ayeesha and her brother are the man’s biological children from his first marriage.

During the court proceedings in April, CCTV footage revealed that they suffered forceful and repeated kicks, punches, smacks, and slaps from the man, who had training in martial arts.

Have news you must share? Get in touch with us via email at [email protected].

Featured image adapted from court documents via The Straits Times and by MS News.

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Seasonal Swings in Sri Lanka’s Mango Market: A Balancing Act with Economic Insights

  • Sri Lanka’s mango industry, deeply woven into the cultural fabric and dietary needs of Sri Lanka, is thriving with a 12.2% production boost and a 5% yield improvement over the past two decades.
  • Yet, the industry is characterised by drastic seasonal price swings. Prices are currently low, and another significant drop is expected between September and January, mirroring last year’s 70% plunge in Karthakolomban mango prices.
  • Regional production concentration has led to price disparities nationwide, highlighting the need for better demand and supply management.
  • This blog suggests a dynamic, multi-pronged strategy to tackle seasonality over the price disparity based on an IPS study on developing food loss reduction pathways through smart business practices in mango value chains: promoting value-added products, optimising logistics and storage, forming farmer clusters, and tapping into export markets.

Growth and Distribution of Sri Lanka’s Mango Cultivation

Mango is the most widely cultivated fruit crop after bananas in Sri Lanka. According to the Department of Census and Statistics (2023), the average mango cultivation area over the past five years (2018-2023) has expanded by 6.9%, reaching 28,372 hectares, compared to the 2002-2007 average. Furthermore, national mango fruit production has demonstrated a remarkable rise of 12.2%, with an increase per hectare of mango fruit production by 5% (Figure 1).

Sri Lanka boasts a longstanding tradition of mango cultivation. Mangoes are the third-highest consumed fruit in terms of value, following only bananas and papayas. The traditional cultivars ‘Betti’, ‘Karthacolomban’, ‘Vellaicolomban’, ‘Kohu’, and ‘Villard’, and the modern cultivar ‘TomEJC’ have become dominant players within Sri Lankan wholesale/ retail markets.

 

Source: Author’s calculations based on DCS (2023)

Over the past two decades, the geographical distribution of mango cultivation has undergone a notable transformation. Nearly two-thirds (65.36%) of mango cultivation in Sri Lanka is currently concentrated in just nine districts. While Kurunegala historically held the dominant position as the leading producer, recent years have witnessed a significant decline in the mango-cultivated areas. Anuradhapura and Monaragala have experienced significant growth, with Anuradhapura surpassing Kurunegala as the current leader in terms of cultivation area.

Witnessing a noteworthy expansion into international markets, fresh mango fruit exports have exhibited a significant upward trajectory since 2017, reaching 374 metric tons by 2022. Dried mango exports followed similar growth, experiencing a notable rise from 2019 to 2021, resulting in 63 metric tons exported in 2022.  Despite the recent progress in Sri Lanka’s mango production, fueled by innovative, high-yielding cultivars tailored to specific regions, a persistent challenge remains: the seasonality of production.

The Seasonality Factor and Its Economic Impact

In Sri Lanka, mango production exhibits two distinct production peaks over the year, which pave the way for drastic seasonal price fluctuations. Mango trees in the wet and intermediate zones typically bloom from January to March, with peak harvests from April to July (Yala Season). Conversely, in the dry zone, blooming occurs from July to September, with peak harvests from October to January (Maha season). These regional variations in blooming and harvesting periods are influenced by Sri Lanka’s diverse climatic conditions, primarily by its varying rainfall patterns.

This seasonality creates classic supply and demand imbalances, marked by distinct dual peaks and troughs in prices each year, with the highest fluctuations observed over the past two years (Figure 2). For instance, price data from 2023 shows that even popular cultivars like Karthakolomban can experience significant price drops. During the off-season in September, prices peaked at 252.1 Rs/kg when mangoes were less available. However, by the next peak harvesting time in December, prices had dropped by as much as 70%, reaching 71.2 Rs/kg as the market became saturated with mangoes.

Source: Author’s compilation based on Price data from Hector Kobbekaduwa Agrarian Research and Training Institute (HARTI)

 

Moreover, Sri Lanka’s mango market shows notable nationwide price disparities – for the same cultivar – alongside seasonal price fluctuations. The mango harvest from wet and intermediate zones saturates their regional markets from April to July, while markets in dry zones are saturated from October to January. Figure 3 illustrates how markets in dry zones are flooded with the harvest, resulting in low mango prices in most dry zone areas and comparatively high prices in wet and intermediate zones.

Figure 3: Fluctuation of Karthakolomban Mango Prices During a Peak Harvest Across the Country (December 2023)

Source: Author’s compilation based on DCS (2023) and Price data from HARTI

Despite investing in high-yielding cultivars, growers face unpredictable income due to fluctuating market prices, creating financial strain for them. Conversely, on the consumer side, price volatility disrupts purchasing behaviour. During off-seasons, limited availability and high prices can restrict their access to mangoes, particularly for low-income households. This not only impacts dietary choices but also undermines the mango fruit’s role as an affordable source of essential vitamins and minerals.

Way Forward: A Multi-Pronged Approach

A strategic and coordinated approach involving all value chain actors—from growers to consumers—can effectively stabilise price levels, mitigate growers’ financial hardships, and ensure affordable fruit availability year-round.

Rerouting Demand to Value-Added Products: Promoting value-added products such as pulp, jams, dried slices, and chutneys, produced utilising surplus mango fruit from peak seasons, assists in meeting year-round demand while mitigating heightened demand for fresh mangoes during off-seasons.

Logistics and Distribution Network Optimisation: A strengthened distribution network with improved cold chain facilities can mitigate price disparities and ensure nationwide availability of mangoes at fair prices. This involves identifying key production districts, improving infrastructure, streamlining transportation routes, establishing efficient market linkages, and enhancing access to market information. Further, buffer stocking curbs the excessive volatility of prices of fresh mangoes by regulating the gradual movement of fresh mangoes into and out of the markets.

Establishment of Farmer Clusters: Building on a strong foundation, Sri Lanka has already established successful farmer clusters for commercial mango production, such as those under the ‘Nucleus Estates’ initiative by the Agriculture Sector Modernization Project (ASMP) and Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA). Farmer clusters foster sharing knowledge and supply opportunities, and pooling of resources, thereby leveraging growers with economies of scale, amplifying their collective voice, and ensuring a consistent supply.

Untapping Export Potential: Several global markets, like the EU, USA, Middle East, and Australia, hold significant export potential for Sri Lankan mangoes. Meeting their stringent quality standards requires a multi-faceted approach: improving orchard management with Good Agricultural Practices (GAP), Integrated Pest Management (IPM) and training on post-harvest handling and quality control compliance with international regulations. IPS, in collaboration with LFVPPEA, has already supported commercial mango growers in harnessing export potential through training and capacity building under an Australian Centre for International Agricultural Research (ACIAR) project (CS/2020/193).

This blog is based on an ongoing IPS study conducted under the ACIAR-funded project ‘Developing food loss reduction pathways through smart business practices in mango and tomato value chains in Pakistan and Sri Lanka’.

Chandula Idirisinghe is a Research Assistant working on Agriculture and Agribusiness Development at the Institute of Policy Studies of Sri Lanka (IPS). He holds a BSc (Hons) in Agricultural Technology and Management, specialising in Applied Economics and Business Management from the Faculty of Agriculture, University of Peradeniya. His research interests include agricultural policies and institutions; agricultural productivity; agribusiness value chains; food security and environmental and natural resource policies.

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Bishan DBSS flat fetches record-breaking S$1.568M, becomes area’s most expensive HDB

DBSS flat sold for S$1,568,000, sets new high for HDB prices in Bishan

Bishan, known for its high-value resale flats, recently witnessed another record-breaking transaction when another Design, Build and Sell Scheme (DBSS) flat was sold for S$1,568,000.00.

According to data on the Housing & Development Board (HDB) website, the 120 sqm unit is located at 275A Bishan Street 24 and sits somewhere on the 37th to 39th floor.

Source: Google Maps

It has 86 years and three months left on its lease.

EdgeProp highlighted that this sale marks the priciest HDB transaction in Bishan and the fourth highest in all of Singapore.

Last record sale was in June 2024

The block is part of Natura Loft, a development that has seen the sale of nine million-dollar HDB resale flats since September 2023.

Source: Housing & Development Board

Last month, another unit at 275A Bishan Street 24 changed hands for S$1,538,000, followed by another flat in the same block fetching S$1,500,000 in May 2024.

EdgeProp noted that Bishan is a favoured residential choice for families, citing its prime location in a mature estate and close proximity to numerous amenities and educational institutions.

Prominent primary schools such as Marymount Convent School, Ai Tong School, and Teck Ghee Primary School are all within a 2km radius of Natura Loft.

Also read: Bishan maisonette sold for S$1.5M, becomes most expensive executive HDB flat

Bishan maisonette sold for S$1.5M, becomes most expensive executive HDB flat

Have news you must share? Get in touch with us via email at [email protected].

Featured image adapted from Google Maps.

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