Address:
Access Engineering PLC
Access Towers ,No 278, Union Place, Colombo 02, Sri Lanka.
Telephone:
+94 11 7606606
Email:
inquiries@accessengsl.com
Web:
https://www.accessengsl.com/
Q: Should organisational performance and environmental sustainability go hand in hand?
A: Having been founded and operated on the principle of sustainability, we believe that organisational performance and environmental sustainability should go hand in hand – in fact, it is a key pillar of our industry’s longterm sustainability. We address this through value engineering, which emanates from our vision.
Over the years, value engineering has enabled us to deliver solutions that use fewer materials, resources and energy, and causes less pollution and disturbance to the ecosystem. Environmental concerns are integrated into all levels of working models. And our Environmental Management System is externally certified to conform to the requirements of ISO 14001:2015.
Q: To what extent are innovation and technological change impacting your industry?Access Engineering has built a reputation for being at the forefront of tech advancement, which it uses in engineering disciplines such as post-tensioning for high-rise buildings, prefabricated bridges and flyovers, HDD and micro-trenching in telecommunications work, and diaphragm walls (D-walls) in basement construction.
The incorporation of technological advancements in our processes has enabled us to be more competitive, optimise the use of materials and resources, reduce costs, ensure speedy delivery, be more environmentally-friendly, and deliver projects, services and construction materials of the highest quality.
Q: How would you describe the state of business in Sri Lanka at this time
? A: As reported by the Central Bank of Sri Lanka, 2019 has been characterised by less economic activity in the agriculture and services sectors. Nevertheless, there was marginal growth in the industry sector compared to all four quarters of 2018. The contraction this year was evident in many sectors and exacerbated by the terrorist attacks on 21 April.
The exchange rate regained stability with the pace of depreciation slackening. Both money and equity markets displayed less activity with daily average volumes being lower than in previous years. Moreover, the construction industry presented little momentum.
Q: In view of the prevailing business environment, what are the organisation’s priorities for the medium term?
A: Access Engineering’s medium-term strategy focusses on core and supplementary businesses, while strengthening and streamlining subsidiaries. The core business has a strong and confirmed order book spanning the next two to three years. With increased demand for producing construction materials, we expect this momentum to continue.
Moreover, the organisation’s real estate investments in Capital Heights in Rajagiriya – which witnessed the completion of its superstructure – and Marina Square in Colombo, which commenced its main contract, are to be completed in 2020 and 2023 respectively. We will also develop Sri Lanka’s largest single floor warehousing facility of nearly 425,000 sq ft while Access Tower I and II continue to add tax-free profits to the group’s bottom line.
Q: So how do you view Access Engineering’s prospects in the medium term?
A: We see growth opportunities in the core business in line with the group’s priorities stemming from ongoing and upcoming projects.
These projects include road network and water sector improvement, the Colombo International Financial City (a.k.a. CIFC or Port City), remaining sections of the Central Expressway, the elevated road network, Port Access Road, light rail transit (LRT), building, piling and substructures, and increasing demand for asphalt and concrete.
This growth is supplemented by private sector megascale developments for retail and office space, and condominium apartments. Both Marina Square and Capital Heights have garnered interest from potential customers and attractive pre-sales. Access Tower I and II remain a preferred office space with both towers having 100 percent occupancy.
Sathosa Motors offers a positive outlook, and investments to upgrade the workshop, showroom and branch network will strengthen its market position in the new vehicle segment of Japanese light commercial vehicles. Additionally, WUS Logistics – a recent investment – is expected to generate revenue commencing in early 2021.