Category Archives: Business & Economy

New Stop for Bubble Tea Lovers

BubbleTeaCF09feb2015

Chennai : 

Haven’t you had bubble tea yet? For people who haven’t relished the flavours of bubble tea, Cha Republic is offering a wide variety at its new outlet, which was opened recently at Thoraipakkam. One sip of bubble tea, which is a Thai concept, involves  mixing tea base with fruits or milk. Cha Republic has outlets in Phoenix Market City, Besant Nagar and Express Avenue. The directors are Malaysian citizens Sundram, Vanitha and Kavitha, who were more that elated to prepare the concoction themselves and serve customers at the launch of the new outlet which was inaugurated by Sam Paul.

The drink is made with concentrated puree, milk and crushed ice to create a yummy milk shake. The organisers say that it can also be a mixed form of powdered flavouring, creamer and water. The different varieties available at the outlet include the chiller series, frui ‘tea’ series, shake or freeze series, milk tea series and oreo or  snowcap series.

Cha Republic also has plans to open outlets on Harrington Road and Adyar.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Chennai / by Express Features / February 07th, 2015

Chennai start-up wins Rs.10-lakh funding

Suresh and Arul Murugan of Chloroplast Foods (second and third from left) with the organisers of IIT Bombay’s Entrepreneurship Summit 2015.
Suresh and Arul Murugan of Chloroplast Foods (second and third from left) with the organisers of IIT Bombay’s Entrepreneurship Summit 2015.

Chennai-based start-up Chloroplast Foods was one of the six start-ups to bag on-the-spot funding of up to Rs.10 lakh at IIT Bombay’s Entrepreneurship Summit 2015.

Founded seven months ago by three college friends, the start-up was shortlisted from 260 applications. Chloroplast Foods aims to supply 30 preservative-free snacks online, through their website www.snackexperts.com, by tapping into the growing healthy snacks market.

The team’s 10-minute presentation at the ‘10 Minute Million’ event on Sunday received instant funding pledges from four investors, including Ajeet Khurana, CEO of IIT-B’s Society for Innovation and Entrepreneurship, and angel investors Taha Nabee, V.C. Karthik, and Ravi Gururaj.

“We have created these products from unique recipes. Since this is a subscription-based model, they are prepared after a customer places an order. Within seven days, the customer gets a fresh product that has a 30-day shelf life. We offer five unique varieties for Rs.699,” said Arul Murugan Palanichamy, a co-founder of snackexperts.com.

The 27-year-old B. Tech graduate from Tamil Nadu Agricultural University, worked with a food processing company for seven years before starting his own venture.

He said the money would help them expand from a leased bakery unit to a bigger bulk production facility.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Mumbai / by Satish Nandgaonkar / Mumbai – February 03rd, 2015

Igarashi & MAPE Advisory buy out Blackstone’s in Agile Electric Sub Assembly

Chennai  :

In a move that turns investment banker into an investor by itself, MAPE Advisory Group and auto-component maker Igarashi Electric Works of Japan have bought out the entire 97.9% stake held by Blackstone Capital (Singapore) and BFIP (CAYMAN) in Agile Electric Sub Assembly for $106.4 million. Agile owns Igarashi Motors.

The transaction is subject to customary closing conditions and upon successful completion of transaction, Igarashi Electric Works and MAPE Advisory Group will be the new promoters of the company.

Agile Electric is involved in production of DC motor sub-assemblies, micro motors. It later started to make AC motors in 2012. The company can produce nearly 40 million components from its plant inside Madras Export Processing Zone (MEPZ). Agile exports majority of its products to Delphi Automotive, Inteva Products and Bosch.

Igarashi Motors was the original promoter of the company along with Crompton Greaves. “Igarashi stepped out of the company in favour of HBL Power Systems, after there was some financial stress back home,” sources said. HBL sold the company to Blackstone in July 2013. Blackstone completed a management buy-out with an investment of $74 million. Interestingly, Mape Advisory was the investment banker who facilitated Blackstone transaction. “Igarashi wanted a local partner and we decided we will join them,” said M Ramprasad, chairman, Mape Advisory.

With Blackstone exiting the company, Igarashi and Mape will make an open offer to the public shareholders of lgarashi Motors India as per the applicable provisions of SEBI SAST Regulations 2011 for acquisition of upto 26% of the voting share capital of Igarashi Motors. The obligation to acquire shares pursuant to the open offer will be triggered only on the successful closure of the transaction of Agile Electric Sub Assembly as this would lead to an indirect change in control of Igarashi Motors, the company said in a filing to the Bombay Stock Exchange.

Religare Capital Markets has been appointed as the Manager to the open offer and the offer price as per applicable regulations is expected to be in the range of Rs 307-308 per share. The estimated size of the open offer will be about $ 41 million, the company said.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Chennai / TNN / January 31st, 2015

Co-optex goes online, sells Rs 2.36L worth products in 2 months

Chennai :

Tamil Nadu Handloom Weavers Co-operative Society (Co-optex) is slowly gaining the attention of tech-savvy customers. Its e-commerce facility has sold products worth Rs 2.36 lakh in the last two months, with cotton saris the most popular.

The new initiative on www.cooptex.gov.in has impressed many. N Swaminathan of Trichy said, “I never thought a government product would be available online. I thought I will try the quality and design and it was very impressive.” About 2.54 lakh weavers are part of Co-optex, which was established in 1935 and has more than 200 showrooms, including 60 outlets outside Tamil Nadu.

“Co-optex products are sought after, especially during weddings and functions because of the quality. We are trying to use technology to give a new experience to customers, especially youth. We are also focusing on the global market,” said managing director T N Venkatesh, who was instrumental in the makeover.

He said they introduced soft silk sarees with designs and patterns inspired by ancient temples, monuments and historical places. and “also came up with new generation shirts, especially for youth.”

Online figures show customers from other states and foreign countries ordered Co-optex sarees and shirts online. Products are delivered within 24 hours for customers in TN and upto 72 hours for those in other states.

An official said they held discussions with private e-commercial firms to increase sales. “Purchasing online is a trend. Online sales are important especially when real estate costs are going up”. On www.facebook.com/CoOptex, officials interact with customers and showcase their products. A shopping facility introduced by Tamil Nadu Handicrafts Development Corporation, or Poompuhar, on tnpoompuhar.org has also received good response with shoppers able to choose nearly 1,600 items, including bronze, brass, wood and stone carvings.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Chennai / TNN / January 28th, 2015

All things old

R. Bhoopathy, owner of Majestic Auctioneers. Photo: K. Pichumani / The Hindu
R. Bhoopathy, owner of Majestic Auctioneers. Photo: K. Pichumani / The Hindu

This auction house offers to buy, sell and exchange household items and electronic and electrical goods

Trying to dispose of your rusted stainless steel gas stove? Looking to bring home an antique clock? Your search may end at Majestic & Co. Tucked inside a quiet corner off Anna Salai, the 27-year-old auction house buys, sells, hires all kinds of household articles, furniture, electronic and electrical goods. It also allows exchanges involving these items.

It is run by R. Bhoopathy, who worked as a dealer with Murray & Co. before starting his own auction house.

Majestic & Co has a regular clientele. It gets items from those going abroad who want to sell their belongings. “You will find everything here. If not, we would source it for the client. We even offer to pick the goods from their house,” says Bhoopathy.

The store spread over 6,000 sq.ft. conducts auction every Sunday at 11 a.m.

An antique clock at Majestic Auctioneers. Photo: K. Pichumani / The Hindu
An antique clock at Majestic Auctioneers. Photo: K. Pichumani / The Hindu

Grandfather clocks, paintings and wooden furniture are some of the sought-after items at the store. Air-conditioners, refrigerators, televisions and microwaves are consumer goods that can be hired.

Unlike other shops on the stretch, which have moved out temporarily due to Metro Rail work, this shop has stayed on. “The Metro is going to change the face of Anna Salai and more stores will want to set up shop here. We started here and would continue to be here,” says Bhoopathy.

Display of wooden products for sale at Majestic Auctioneers. Photo: K. Pichumani / The Hindu
Display of wooden products for sale at Majestic Auctioneers. Photo: K. Pichumani / The Hindu

Majestic & Co. is at 811, Anna Salai, Vummidiars Shopping Centre, opp. LIC. Phone: 9385511209, 9382700086.

source: http://www.thehindu.com / The Hindu / Home> Features> Downtown / by Liffy Thomas / Chennai – January 10th, 2015

Industrialist feted by Korea for building bonds

Venu Srinivasan, chairman of TVS Motor Company, was appointed ‘Goodwill Envoy for Public Diplomacy’ of the Republic of Korea at an event Monday —Photo: Special Arrangement
Venu Srinivasan, chairman of TVS Motor Company, was appointed ‘Goodwill Envoy for Public Diplomacy’ of the Republic of Korea at an event Monday —Photo: Special Arrangement

The Republic of Korea is a shining example for India and Indians to learn from, in terms of development, said Venu Srinivasan, chairman of TVS Motor Company.

He was addressing a gathering after being appointed ‘Goodwill Envoy for Public Diplomacy’ of the Republic of Korea at an event held in the city on Monday.

Kyungsoo Kim, Consul General of Republic of Korea in Chennai, conferred the title on Mr. Srinivasan before lauding the entrepreneur’s dedication to the promotion of Korean culture among Indians.

The industrialist was feted with the recognition for his efforts towards strengthening the relationship between the East Asian nation and India for more than a decade.

Addressing the guests, who included foreign diplomats and Korean industrialists, Mr. Srinivasan reminisced on his 15-year-long association with Korean culture and its people. “Looking into history, Indians has had strong links with Korea, which is rich in arts and culture. Today, I respect what Korea, once a war-torn nation, has achieved mainly in terms of commerce, which is flourishing,” Mr. Srinivasan added.

N. Ravi, Editor-in-chief, The Hindu , said Korea has become a household name in the Indian electronics market.

Lauding Mr. Srinivasan on the title, Mr. Ravi added, “Apart from his entrepreneurial spirit and innovations in his field of work, he has touched the lives of over a million people with his rural development and temple restoration projects. This honour from Korea will have a special place in his heart.”

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Staff Reporter / Chennai – January 21st, 2015

Vellore Kramski Unit Bags EEPC Award

Vellore :

The German owned Kramski Stamping and Moulding Private Limited (KSMPL) based in Pallikonda has, for the first time, been awarded the Star Performer Award for their outstanding export performance for the year 2012-13 from the Engineering Export Promotion Council (EEPC) under the ministry of Commerce and Industry.

Kramski manufactures high precision miniaturized stampings and plastic injection moldings (such as insert and outsert moldings, Reel-to-Reel moldings and Robot integrated Moldings) that are exported to Japan, Korea, Germany, China, Turkey and Brazil besides catering to the domestic market.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Tamil Nadu / by V. NarayanaMurthy / January 08th, 2015

A dim outlook for the lamps of olden days

The lamps are now purchased only by restaurants, cinemas, serial production houses and interior decorators. Photo: B. Jothi Ramalingam / The Hindu
The lamps are now purchased only by restaurants, cinemas, serial production houses and interior decorators. Photo: B. Jothi Ramalingam / The Hindu

Hurricane lanterns, once a common sight in households, are now a part of antique collections

If you were to search the loft in your house, you might find a hurricane lamp with the faint smell of kerosene still emanating from it. These lanterns, which were once a common sight in households, are now a part of antique collections.

Until about two decades ago, most homes in the city owned hurricane lamps with wicks. The flame would never get extinguished, not even on windy nights. The children of the house were often entrusted with the task of cleaning them in the evenings.

“As children, we had to remove the glass covering carefully, and clean the soot gathered from the previous day’s use. After this, kerosene was poured in the bottom chamber and the wick lit. We used to study under its light,” recalls V. Aryadevi, an octogenarian resident of Mylapore.

Now, these lamps are purchased only by some restaurants, cinemas, serial production houses and interior decorators. “Earlier, we used to sell around 300 lamps per month. But, now, the number has fallen to 100,” says Shair Ali, who has been selling lanterns since 1945 on Evening Bazaar Road.

Though electric lamps have replaced hurricane lights, he says the latter burn for a longer duration. “I use one in my house to this day. You can still spot them in villages,” he says.

K. Nizam, who also sells hurricane lamps in the locality, says those who sell food on Marina and Elliots beaches, and petty shop owners purchase the lanterns from him. “But most customers prefer electric lamps. They feel that pouring kerosene and lighting the lamps is too much of a hassle. Hurricane lamps are more of a decorative piece in most homes now,” he adds.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Vivek Narayanan / December 24th, 2014

10 Pilots Get ‘Wings’ at INS Rajali Passing Out Ceremony

Vice Admiral R K Pattanaik, Deputy Chief of Naval Staff, inspecting the cadets during the 83rd Helicopter Conversion Course, held at Naval Air Station, INS Rajali at Arakkonam on Saturday | express
Vice Admiral R K Pattanaik, Deputy Chief of Naval Staff, inspecting the cadets during the 83rd Helicopter Conversion Course, held at Naval Air Station, INS Rajali at Arakkonam on Saturday | express

Vellore :

Deputy Chief of Naval Staff, Vice Admiral R K Pattanaik, AVSM, YSM, awarded ‘wings’ to 10 pilots – eight naval and two coast guard pilots at the passing-out parade held at the 83rd Helicopter Conversion Course at Naval Air Station (NAS), INS Rajali, in Arakkonam on Saturday.

Vice Admiral Pattanaik also awarded ‘The Governor of Kerala Rolling Trophy’, for the best all-round trainee pilot and a book prize, for standing first in ground subjects to Himanshu Kukreja and awarded ‘The Flag Officer Commanding-in-Chief, Eastern Naval Command Rolling Trophy’ for the trainee pilot standing first in order of merit in flying, to Praffur Kishor Itape.

Speaking on the occasion, Pattanaik congratulated the trainee pilots, and wished them success in their future endeavours. “You (trainee pilots) have faced and overcome many difficulties  during the trainee period to gain success. But, this is not the end but is instead the beginning of your career. The real problems are waiting for you, outside the base.”

The pilots underwent rigorous training for 22 weeks in flying and aviation subjects at the Helicopter Training School (HTS) INAS 561 located in the NAS at Arakkonam. The HTS commanded by Paul Mathew has graduated 616 pilots for the Indian Navy and Coast Guard till date.

The squadron was awarded the ‘Best Training Squadron’ trophy for the year 2013-14. The school was also recently awarded ISO 9001:2008 certification and has also been adjudged ‘The Best Naval Air Squadron’ for the year 2012-13 among all the naval air squadrons of the Navy. The squadron is 43 years old and was initially established at INS Garuda, Kochi and later in June 1992 was re-based in INS Rajali in Arakkonam.

Graduating pilots will be joining operational flights in Mumbai, Port Blair, Goa, Kochi, Visakhapatnam, Daman and Chennai.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Tamil Nadu / December 22nd, 2014

Country chicken rearing receives a boost in dist

Trichy :

Due to changes in lifestyle, the country chicken ‘naatu kozhi’, once a common sight, has largely vanished from the homes in the state.

It has been replaced by the juicier, cheaper and more easily available broiler chicken. However, country chicken varieties are slowly making a comeback in the district, thanks to the efforts of the department of animal husbandry.

Under a scheme to boost country chicken breeding, the department is providing individuals and women self-help groups (SHGs) money and other incentives.

It enables eligible applicants to get Rs 1,29,500 for every unit of native chicken breeding. One unit consists of 750 chickens, which will be given in three dues of 250 each.

Half the money would be provided by banks, which has to be repaid later. The state government and the national bank for agriculture and rural development (NABARD) will provide 25% each of the total cost.

The beneficiaries have to set up a shed and lights to create an atmosphere conducive for chicken breeding. For 2014-15, 160 people are receiving the units, worth Rs 2,07,20,000.

The number of beneficiaries in 2013-14 and 2012-13 were 240 and 35 respectively, with a total cost of Rs 2,80,80,00 in 2013-14 and Rs 40,95,000 in 2012-13.

Unlike broiler chicken, which has been said to create health problems in the long run, country chicken is bred in natural circumstances. Under the scheme, the chickens are fed with greens for healthy rearing. It takes around 75 days for a chicken to attain its full growth of 1.5 kg. Each kilogram of country chicken costs around Rs 300.

District collector Jayashree Muralidharan said that the scheme had benefitted a lot of women and it gave an impetus to rear country chicken.

Dr R Mohanarangam, joint director, department of animal husbandry, said that immunization drops were provided to the country chickens to protect them from diseases.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Trichy / December 09th, 2014