Outdated approach to be changed: Anoop Jacob

Kochi, 14 July: “We need to change our outdated approach and move according to the change of the time to take our State towards development” remarked Sri. Anoop Jacob, Minister for Food and Civil Supplies.

Harthal is  totally outdated now especially at a time when Kerala is leaping ahead towards Emerging Kerala Investor’s Meet and other creative ventures, said the minister in his inaugural address at the workshop on ‘Strategic Guidance for Entrepreneur Empowerment’ at Chamber Hall.

“If our State has gone behind while comparing the accomplishments of other neighboring States, it is only due to our outdated approach”, added the Food & Civil Supplies Minister.

The workshop was organized by Kerala Chamber Entrepreneurs Awareness Cell (KCEAC) to empower all who aspire to venture into business / industry/ service sectors.

Mr. K N Marzook Chairman, KCCI in his address briefed on KCEAC novel endeavour of the Kerala Chamber of Commerce and Industry -Youth Forum (KCCI-YF) especially when Kerala is fast becoming a thriving business hub.  The Awareness Cell is dedicated to help young and aspirant entrepreneurs to set up small, medium and large scale business establishments in Kerala. KCEAC would act as a mentor and regulator by providing expert advice on setting up new enterprises.   

      

Mr. E S Jose, Director and Former Chairman, KCCI and also   Member, Advisory Council, KITCO     in his speech assured the support and cooperation of KCCI for new entrepreneurs. Mr. T P Thomaskutty   Executive Director, KSIDC gave inputs on the preparations to be made to begin a new venture.

                                                  

 Representatives of KSIDC, KFC, DIC, Khadi & Village Industries, Lead Bank & Federal Bank handled sessions on vivid topics that add to the interest of entrepreneurs.   Mr. K S Pradeep Kumar,  Dy. Manager, DIC,  Ms. P R Radha,  Project Officer, Khadi & Village Industries,  Mr. K M Hiran Das, AGM, KFC, Ms. M Sarala Devi, Representative, State Level Banking Committee,  Mr. Nandakumar V, Regional Head, AGM, Federal Bank and Mr. John Wilfred, Principal, KITCO Institute for entrepreneurship handled sessions on various projects and schemes.  

Prominent project consultant Mr. K P S Kurup   took class on wide range of projects prepared by KCCI Entrepreneurship Awareness Cell.  Mr. K K Shafieque Ahamed, Joint Convenor, KCCI Youth Forum also spoke on the occasion.

  

                     

Gulf Air brings back popular ‘half miles’ redemption for Falconflyers

Airline’s Falconflyer members now require to redeem only 50% of their earned miles

Manama, Bahrain 15 July 2012: National carrier Gulf Air has brought back the popular ‘Half Miles’ redemption promotion for its Falconflyer members.

Gulf Air Falconflyer members can travel anywhere on Gulf Air’s network by redeeming just 50% of the required miles from their accumulated miles.

For instance, a Falconflyer member travelling economy class from Bahrain to any Gulf Air destination in Europe or Far East, need to redeem only 24000 miles as against the normal requirement of 48000. If a customer chooses to travel on Falcon Gold premium class, he needs to redeem only 48000 miles instead of the usual 96000 miles. By redeeming just 3000 miles as against 6000 a member can travel from Bahrain to any destination in GCC or Middle East on economy. To travel on Falcon Gold class a member needs only 6000 miles to redeem instead of 12000.  

“Our Falconflyer programme, re-launched last year with a whole new package of benefits, has witnessed tremendous response from our loyal members,” says Gulf Air Chief Commercial Officer, Mr. Karim Makhlouf. “The programme has been designed to offer unique incentives which are spread through the year so that our loyal members have flexible options to enjoy its benefits.”

He added, “The ‘half miles’ redemption offer is one such incentive that became an instant hit when it was introduced. We have brought it back now to say a big ‘thank you’ to our valued customers for choosing to fly with Gulf Air.”

“Our objective is simple; - no matter what your reason for travel is- business, holiday or a family get together- your Gulf Air Falconflyer membership earns you more miles as you fly and takes less miles to enjoy its benefits” Mr. Makhlouf concluded.

The ‘half miles’ promotion is open now for redeeming and Falcon Flyer members can travel anytime between 20 July and 20 August 2012.

Gulf Air’s new loyalty program ‘Falconflyer’ is packed with privileges in all its three categories – Gold, Silver and Blue. From additional baggage allowances to enjoying the facilities at Falcon Gold lounges to earning double miles, the programme offers more advantages and benefits comparable to other loyalty programmes in the world.

Other advantages of the programme include the best redemption rates and the best miles earning system for a premium class in the GCC and Middle East region, special online booking bonuses, a generous baggage allowance, three years miles validity, unlimited lounge access, priority baggage handling, and guaranteed seats among many other benefits that will make the traveling experience more enjoyable and rewarding.

Gulf Air Falconflyers can redeem the miles under the promotion via online www.gulfair.com or through Gulf Air World Wide contact centre on 17 37 37 37.

About Gulf Air

Founded in 1950, Gulf Air is the proud national carrier of the Kingdom of Bahrain. As a pioneering airline in the Middle East region with over sixty years of experience and expertise in flying people across continents, Gulf Air is today one of the most powerful brands and a name to reckon with in the global aviation industry.

One of the prime objectives of Gulf Air is to connect Bahrain to the Middle East countries and the rest of the world. As such the airline currently operates the largest network in the Middle East with non-stop flights while providing seamless onward connections to other international destinations. The airline’s current network stretches from Europe to Asia, connecting 50 cities in 31 countries, with a fleet of 36 aircraft. 

In tune with the Kingdom’s economic blue print, ‘Vision 2030’, Gulf Air’s strategy is to build an efficient, commercially sustainable and dynamic airline that effectively serves the people and the economy of Bahrain and represents the Kingdom on the world stage. Reflecting the needs and aspirations of its customers, the strategy focuses on three core areas: a targeted, more focused international network; a superior, more consistent product; and a modern, more efficient fleet that will optimize value. Gulf Air’s goal reflects a commitment to the latest aviation technology complemented by the hallmark Arabian hospitality for which the airline is well known.   

Gulf Air was the official sponsor of the 2012 Formula One Gulf Air Bahrain Grand Prix.

16th Indian Plumbing Conference + Exhibition

The 16^th Indian Plumbing Conference got inaugurated at Gokulam Convention Centre, Kochi, yesterday. Organised jointly by Indian Plumbing Association (IPA) and Akar InfoMedia Pvt. Ltd. (AIM), this sixteenth conference in a row, debated on the theme: Water Sustainability : Codes-Education-Implementation-Monitoring.

It was inaugurated at worthy the hands of Prof. V N Rajasekharan Pillai, Principal Secretary to Government of Kerala, Science & Technology Department and Executive Vice President, Kerala State Council for Science, Technology & Environment, in the presence of luminaries of Indian plumbing fraternity, who came to Kochi to attend this two day congress. Dr. A Ramakrishna, Former Deputy MD, L & T and Director – International Infrastructure Consultants Pvt. Ltd., delivered the keynote address and also made an interesting presentation on water scenario in the country. Mr. Sudhakaran Nair, President of IPA & Dy. Chairman – World Plumbing Council shared with the audience, the multi-pronged approach of IPA, to create an awareness about this very crucial and yet very neglected aspect of building services – plumbing. Mr. P Ramachandran, Chairman of IPA’s Kerala Chapter shared with the audience that how inspite of various sources of water, God’s Own Country is still starving for water!

The second day of the conference debated on the topics like Mandate & Monitor and Renew & Reuse. Subject experts like Mr. Sharat Rao, Managing Director, Engineering Creations Public Health Consultancy Pvt. Ltd. - Mumbai, Mr. S. Haris, Executive Engineer, Kerala Water Authority - Thiruvananthapuram, Mr. John Joseph, MD & Principal Consultant, John Mech-El Technologies Pvt. Ltd. – Mumbai and Mr. V. Venugopal, Managing Partner, Modern Plumbing Systems & Services, Kochi made presentations on these topics. These topics focused mainly on the importance of uniform codes & the importance of a monitoring system and also that of re-use of available resources.

This two day conference also had a large exhibition of latest and innovative plumbing and allied products. Builders, consultants and high net-worth individuals attended this exhibition which was a big success.

With these high profile deliberations and dignitaries visiting the show over two days, this national convention on plumbing will definitely leave a big impact on Kochi in terms of water sustainability and conservation.

Fawaz Broasted's First Outlet in India Open in Padivattom, Kochi

Kochi, July 15: Fawaz, the leading broasted chicken and fastfood chain based in the Kingdom of Saudi Arabia, has opened its first outlet in India at Padivattom, Kochi. The new outlet was inaugurated by State Public Works Minister P K Ibrahim Kunju. The first sale was inaugurated by Ex-Minister T H Musthafa. The funcation was presided over by Benny Bahannan, MLA and was also attended by Perumbavoor Muncipal Chairman K M A Salam, TP Hassan, Cochin Corporation Councillor M B Muraleedhara Menon, Thiruvananthapuram Spinning Mill Chairman M P Abdul Khader. Fawaz group Director Fawaz Ali welcomed the gathering while Fawax group Chairman P V Salim delivered the vote of thanks.

In addition to broasted dishes, the outlet also serves Arabic delicacies . It is situated near Palarivattom signal opposite POC in Padivattom.

It’s indeed Care Beyond Boundaries as Save the Little Hearts initiative goes live in Oman

Six-year-old girl receives free heart surgery through DM Foundation As part of its Save the Little Hearts campaign, the not-for-profit vertical of DM Healthcare sponsors the treatment of a child from Oman at the Malabar Institute of Medical Sciences in Kerala
 Dubai, July 11, 2012: DM Foundation, the charitable arm of a leading healthcare conglomerate DM Healthcare, sponsored the treatment of six-year-old Aala Saud Al Fadhi, from Oman, affected with a rare heart condition, the little girl was given a new lease of life when she was selected for a Pediatric Cardiac Surgery under the sponsorship of DM Foundation at Malabar Institute of Medical Sciences (MIMS) in Kerala, India,.  After undergoing a successful procedure for Atrial Septal Defect in the wall separating the right and left atria of the heart, Aala is well on her way to good health. She is now back home and looking forward to leading a healthy life. This initiative is a part of DM Foundation’s commitment to sponsor free cardiac surgeries in India for Omani nationals through ASTER Hospitals, Oman. Aala is the first of the fifty patients to be selected as part of this initiative with the aim of meeting the medical needs of those who really need it and are unable to afford it. The patients, who would be selected after an initial screening at DM Healthcare’s facilities in Oman, will be given free treatment, including heart surgery performed by the most experienced and qualified doctors at MIMS (Malabar Institute of Medical Sciences Ltd) a 600-bed super specialty tertiary care hospital in Calicut, Kerala. Commenting on Aala’s treatment, Dr. Sajan Koshy, Senior Consultant Pediatric Cardiac Surgeon, MIMS, said: “We are pleased to be part of an initiative that would help those who are in real need of medical care and attention. This is a wonderful initiative by DM Foundation and we are thankful for the support that has been pouring in to take this initiative forward. Aala is a sweet and deserving child and we are very happy we could help her get her life and health back. We hope that we can continue helping people through this initiative in Oman.”  DM Foundation aims to help many children like Aala and sponsor their treatment.  Commenting on the initiative, Dr. Azad Moopen, Founder of DM Foundation, said. “This initiative is a small step that we have taken to ensure the welfare of people, who cannot afford good medical treatment. We are happy to be able to help them in a small way. We are grateful for the support of Ministry of Health and the Government of Oman, without which this mission would not have been possible. We aree thankful to Mr. Khalid Hilal al Shaqsi, Health Attaché, Consulate General of the Sultanate of Oman and his team for having supported this initiative by sponsoring the travel, stay and hospitalization of the first child treated in India. Their backing would go a long way in changing the life of a child for the better.” “Let me take this opportunity to appeal to all corporates and philanthropists in Oman to come forward and support the patients to take care of their travel needs and incidental expenses during the treatment phase,” Dr. Moopen added.  Patients in Oman are requested to contact Aster Hospitals in Muscat and Sohar to know more about the Free Pediatric Cardiac Surgery programme. The patients will be screened by the specially set panel of doctors and eligible candidates are provided free air tickets, courtesy of Emirates airline.  The Malabar Institute of Medical Sciences is the first NABH accredited multi-specialty hospital in Calicut, Kerala. The 600-bed hospital is renowned for its excellent medical expertise, nursing care and quality of diagnostic services. The hospital has earned a very good recognition as a leader in providing world-class healthcare services to the common man at an affordable cost. The hospital is continuously in tune with the latest technology that promotes the healthcare and wellbeing of the patient and the best comfort offered to overseas patients through its Overseas Patient Desk including to and fro airport transfer. About DM Foundation DM Foundation is the Charitable and Corporate Social Responsibility (CSR) Division of DM Healthcare. Established by Padma Shri Dr. Azad Moopen, the Foundation is involved in many charity works in the GCC and India, The goals of the organization include extending support to the North Indian states as well as to African countries, where there is acute requirement for intervention in the delivery of healthcare and educations to the poor. DM Foundation is actively involved in conducting various health awareness campaigns and free medical camps through Community Good Health Programs (CGHP) in the Gulf Countries, through DM Healthcare. Other not-for-profit activities of DM  Foundation is the ongoing free Pediatric and Adult Cardiac Surgery Programme, in association with MIMS Charitable Trust. The Foundation is establishing Community Dialysis Centres across Kerala. It is also establishing Early Cancer Detection Centres across Kerala and is setting up Free Radiation Oncology Centres for the benefits of the weaker section of the society. Other initiatives include Village Adoption Programme for ensuring Free Medical Services the below poverty line (BPL) population, establishment of Free Mobile Healthcare Services in remote villages in underdeveloped North Indian States, extending Education & Empowerment Programme through Moopen Institute for Local Empowerment (MILES) to mould a strong, determined and aware citizenry in the villages of India -- with a lead project at Kalpakanchery, a north Kerala village --  and running of a Special Needs Schools for the Physically and Mentally challenged.  Apart from healthcare related charitable activities, DM Foundation extends financial support to many NGOs and needy individuals. DM Foundation works in tandem with sister organizations like MIMS Charitable Trust (www.mimstrust.com ) and Social Advancement Foundation of India (www.safiindia.org). About DM HealthcareDM Healthcare is a healthcare group in the Middle East and India. Founded in 1987 by Padma Shri Dr. Azad Moopen, a doctor turned entrepreneur, the Dubai-headquartered Group has diversified to offer comprehensive healthcare services to all segments of the society. In its quest for excellence, DM Healthcare provides healthcare of the highest quality in the geographies they operate in with a motto “Care Beyond Boundaries”. Consolidated under the brands Aster and Medcare, the Group covers an array of healthcare verticals including hospitals, clinics, diagnostic centres and pharmacies. The DM network presently consists of more than 125 establishments, providing primary, secondary and tertiary healthcare with management and consultancy services, treating more than 20,000 patients per day. The Group is in the midst of an exponential expansion in the GCC and India with the number of units set to grow to 300 by the year 2015 with investments of $500m across Middle East and India.

Kerala Fin. Corp. on new heights KFC declares 7.5% dividend

KFC declares  highest dividend than  by any other PSU in the State

          Kerala Financial Corporation(KFC) has scaled new heights by registering the highest ever profit of Rs.45.65 Crores for the F.Y. 2011-12.  The Corporation also increased the size of its assets to Rs.1240 Crores as on 31.03.12 from Rs.1124 crores as on 31.03.2011.  The sanctions registered a figure of Rs.539 Crores and disbursements registered a figure of Rs.464.57 crores.

          Buoyed by the all-time best performance of KFC, a dividend of 7.5% on paid up capital was declared by the Corporation  in its Annual General Meeting held on 11.07.2012.  This translates into an amount of Rs.15.90 crores with a major part going to Government of Kerala which owns more than 97% of the equity share capital.  Another Rs.2.58 Crores of  dividend tax is payable to the Govt. of India.  This is the highest dividend declared by any PSU in the State. 

          The improvement in its appraisal methods, introduction of objective credit rating system, etc. by KFC  has tremendously increased the quality of its assets and advances and the Corporation has been able to reduce its gross NPA percentage from 8.20% to 3.60%  and net NPA from 1.88% to 1.30%.

           The Corporation also formulated scientific, rational and  modern policies for sanction of loans, their monitoring and recovery.  Forward looking compromise settlement and recovery policies ensured that the recoveries for the year 2011-12 reached an all-time high figure of Rs.467.17 Crores.  The total income also surpassed the figure of Rs.200 Crores at Rs.214.25 Crores up from the figure of Rs.165.98 Crores achieved in the year 2010-11 (an increase of 30%).  It may be stated that this  performance has been achieved mostly in the second half of the F.Y 2011-12.   This is also to be noted that the Corporation had huge accumulated losses just about 3 years back.

          The Corporation has been able to achieve this performance despite reduced financial  assistance from SIDBI.  However, the improved performance of the Corporation and confidence in its management ensured that banks agreed to lend to KFC at a very economic rates.  Further, the reduction in its establishment costs has enabled KFC to earn profits despite keeping low lending rates.  The effective rates after rebate and reduction of interest rate for good credit rating is only 12.5% as against around 16% charged by other banks.

          As at the end of the year 2011-12 the net worth of the Corporation was Rs.325.85 crores  up from RS.297.36 crores in the previous year. The Corporation has Capital Adequacy Ratio (CAR)  of 20.51%  which is far above the minimum norm of 9% prescribed by the RBI.

A comparative chart for performance during the last 3 years is given below:                                                                                                    (Rs. in lakhs)

Financial year	2011-12	2010-11	2009-10
Portfolio Size	123984	112481	88869
Sanctions	53901	50706	61593
Disbursements	46457	44344	41953
Recovery	46717	35473	29957
Total Income	21425	16598	16236
Total Expenditure	15162	10428	11571
Operating Profit	6263	6170	4665
Net Profit	4565	3640	3372
Net NPA%	1.30	1.88	2.41
Gross NPA%	3.6	8.2	9.04
Net worth	32585	29731	26996

NABARD celebrates 31st Foundation Day

NABARD Celebrated its 31st  Foundation Day on 12 July 2012 at its Kerala Regional Office at Thiruvananthapuram. The function was inaugurated by Shri K C Joseph, Hon’ble Minister for Rural Development and was presided over by NABARD Chief General Manager, Shri R Amalorpavanathan.  Shri Salim Ganghadharan, Regional Director, RBI and Shri  G Sreeram, Convenor, State Level Bankers Committee, were  also present on the occasion.

Shri K R Rao, General Manager welcomed the dignitaries and other guests. In his address, Shri R Amalorpavanthan, Chief General Manager, acknowledged the efforts made by the State Government, RBI, Banks and other Community Based Organisations for the development of the State and thanked these agencies Government for the support and cooperation extended to NABARD in the furthering the developmental agenda of the State.  Apart from the traditional areas he explained about the new interventions proposed to be undertaken by NABARD in the State. He also assured that NABARD would continue to work for the development of the farmers in the State.

In his address, the Hon’ble Minister appreciated the support extended by  NABARD   to the State over a period of three decades.  He specifically emphasised on the contribution made by NABARD in the State in the field of creation of infrastructure, empowerment of poor through JLGs/SHGs.   He appreciated NABARD for its outreach of the development programmes to the most remote areas in Kerala.  The Minister also expressed   hope that NABARD would continue to extend its support to the State in all its future endeavours. The Minister appreciated  NABARD and said that it has done full justice to its establishment by striving hard to achieve the objectives for which it was formed in a fair and impartial manner. 

Shri Salim Gangadharan, Regional Director, RBI  recalled the association of NABARD with RBI and the services NABARD has been rendering for the upliftment of the rural masses.  Shri G Sreeram, Convenor, State Level Bankers Committee appreciated NABARD for its cooperations and support in their endeavour to contribute to the development of the State as the convenor of SLBC.

Shri Jose T Abraham , Secretary employees association  in his address  explained the challenges faced by Development Financial Institutions and urged the government to provide necessary support to NABARD to successfully carry out its mission.  He also said that all the Staff are dedicated to the development of the State and would continue to do so.

Smt G Janaki DGM , President, NABARD Officers Association  proposed vote of thanks wherein she  assured that the staff of NABARD  are committed  for the overall development of the State.