Friday, May 3rd, 2013

His Excellency Taro Aso made history today (2nd May 2013) by being the first sitting deputy Prime Minister of Japan to visit Colombo Dockyard PLC, country’s premier Shipbuilding and Ship repairing entity operating in joint collaboration with Onomichi Dockyard Company Limited of Japan. He was accompanied by Senior Vice Minister of Finance Hon. Yuko Obuchi, Japanese Ambassador to Sri Lanka H.E. Nobuhito Hobo, Sri Lankan Ambassador to Japan H.E. Admiral (Rtd.) Wasantha Karannagoda, and a host of Japanese government officials, business delegates & media personnel.

Upon arrival H.E. Taro Aso was received by Mr. Akihiko Nakauchi Chairman and Mr. Mangala Yapa Managing Director/Chief Executive Officer who briefed the delegation on the activities of Colombo Dockyard.

Sri Lanka and Japan has enjoyed strategic bilateral relations strengthening the long-standing ties between the two countries. One such success story form the recent past, is the collaboration Onomichi Dockyard Company Ltd of Japan entered in to with Colombo Dockyard in 1993, which incidentally celebrated the 20th anniversary to its successful collaboration, recently.

This collaboration found the most suitable strategic partner who could complement Colombo Dockyards’ business and infuse equity capital as well as provide fresh managerial and technical expertise to launch the Shipyard to the next level.

As a result of this collaboration, Colombo Dockyard has been able to position itself as a dynamic and versatile shipyard in the Indian Ocean offering specialized high end engineering services ranging from Shipbuilding, Ship repairing and Heavy Engineering.

Some salient financial highlights of performance of the Shipyard before and after the Japanese collaboration is given below.

1993 2012 Growth
Total Revenue976.005,727.0014,751.001511%
Export Revenue217.504,920.004,702.502162%
Average NPAT(21.20)1,889.001,910.209010%
Market Capitalization1,241.0016,096.0014,855.001197%
Share Holders Fund599.509,987.509,388.001566%
Total Assets2,534.7017,537.0015,002.30592%
Long Term Debts1,228.9013.101,215.809281%

Inspired by these business synergies Colombo Dockyard PLC is set to become the leading maritime solutions provider in South Asia.

H.E. Taro Aso’s visit also has another major significant to all Sri Lankans as he is the Grand Son of former Prime Minister Yoshida Shigeru of Japan who signed the ‘Peace Treaty of San Francisco’ between Japan and the allied powers in 1951, which served to officially end the World War II, where our then Finance Minister J.R. Jayawardene spoke in support for a free Japan. With this speech, Sri Lanka consolidated an eternal friendship with Japan which continues to grow stronger and stronger.

In conclusion, H.E. Taro Aso expressed his satisfaction and extended his sincere greetings to all the employees of the company, for the courtesies extended and good work.