Annual Report 2011 - Colombo Stock Exchange

8 Annual Report 2011Chairman’s MessageAs Europe faces uncertainty with an ongoing sovereign debt crisis and a weakened American economy suffers fromcrippling unemployment and decreasing confidence, we are faced with a global outlook that continues to be volatile.Political uprisings in the Middle East and Africa have only added to these woes.In Sri Lanka, however, we remain cautiously optimistic despite the challenges the country faces in terms of ballooning tradedeficits, rising costs of living and a depreciating currency. Rapidly developing rural areas, increased consumer spending anda surge of foreign direct investment all point to an economy that is poised for growth.We are continuing to explore various options in respect of redeveloping Hotel Swanee. Raising funds for the redevelopmentis a critical factor and could be challenging; we are currently investigating various ways to raise funds, including throughrights issue to existing shareholders, issue of new shares to new investors, etc. We will continue to exercise prudence inBeruwela Walk Inn PLC through cost containment measures where necessary. We remain committed to being an engagedpartner with Sri Lanka to develop the island’s positive tourism potential and tap into the rich appeal of its many culturalattractions, natural beauty, traditional heritage and welcoming people.Ariel P VeraChairman15 th May 2012