Category: Daily Financial Times

Hambantota International Port (HIP) welcomed Mein Schiff 6 on its maiden call at the port on 3rd December, marking another significant step in the port›s growing prominence as a South Asian cruise destination.

The Malta-flagged, 2017-built vessel, measuring 295.17 metres, arrived from Colombo with 2289 passengers and 950 crew on board. After its stop at HIP, the ship will continue to Port Klang. The call was managed by Hapag-Lloyd as the local agent, with Aitken Spence Travels curating shore excursions for guests.

Hambantota International Port Group Chief Operating Officer Tommy Yang said: ‘We are delighted to welcome Mein Schiff 6 for the very first time. Each maiden call reinforces the confidence global cruise lines place in HIP’s growing capabilities, passenger services, and our commitment to delivering a seamless cruise experience.’

The visit further strengthens TUI Cruises’ engagement with HIP, following several successful calls by Mein Schiff 5 in recent cruise seasons.

Hapag-Lloyd Lanka General Manager Mindaka Dassanayake said: «TUI Cruises has been an important partner in showcasing southern Sri Lanka to international travelers.’

Renowned for its cruise-readiness, HIP combines deep-water berths and efficient maritime services with some of the highest international standards. HIP is the first port in Sri Lanka to achieve ISO certifications for quality, environmental management, and health and safety, emphasising its strong operational discipline.

HIP is also recognised as one of the cleanest and most environmentally responsible ports in the region. ‘Sustainability is at the heart of our operations,’ Yang added, highlighting initiatives such as HIP’s Green Port Policy, large-scale Green Zone tree-planting program, and its pioneering Coral Reef Protection Project, supported by studies showing significant live coral coverage within the port›s breakwaters. ‘Our environmental achievements are an integral part of what makes Hambantota an attractive and responsible call for cruise lines.’

The arrival of Mein Schiff 6 marks another key milestone in HIP’s steady rise as a safe, clean, and future-ready cruise gateway to Sri Lanka’s deep south.

Defending champions Bloomfield were at the receiving end of CCC when they lost their Major Club 3-Day League game in the first innings at the Galle Cricket Stadium yesterday.

In reply to CCC’s tall first innings score of 404-9 declared, Bloomfield could only respond with 202, and that too largely due to their number eight batter Lahiru Madushanka, who lifted them from 56-7 to their final total with a sturdy knock of 92 off 135 balls (8 fours, 4 sixes). Left-arm seamer Vishwa Fernando was the pick of the CCC bowlers, taking 4/47. By stumps brought forward by bad light, CCC scored 57-2.

Last year’s runner-up to Bloomfield, NCC, on the other hand, got the better of Ace Capital CC to win on first innings at the SSC Grounds to get their campaign started.

Ace Capital CC fell 45 runs short of NCC’s first innings of 333 when they were dismissed for 288, with Wanuja Sahan (120 off 133 balls, 11 fours, 1 six) being the last wicket to fall. Chamika Karunaratne took 4/69 with his medium-pacers. In NCC’s second innings of 206-9 declared, Kavin Bandara, the former DS Senanayake southpaw, made use of the opportunity to score a century (102 off 136 balls, 14 fours), while Sahan picked a further four wickets for match figures of 9/165. Left with a target of 252 to chase, Ace Capital CC responded strongly with 181-2, being given an inspiring start by openers Pawantha Weerasinghe (94 off 85 balls, 10 fours, 2 sixes) and Pawan Pathiraja (66 off 74 balls, 7 fours), who put on 148.

Nugegoda SWC were the only team to record an outright win.

Trailing Nugegoda SWC by 118 runs, Chilaw Marians CC could not make much headway in their second innings, being dismissed for 211 at the NCC grounds, leaving Nugegoda SWC to chase down a target of 94, which they did to win by nine wickets. Off-spinners Tillakaratne Sampath and Madhuka Liyanapathiranage shared six wickets for Nugegoda SWC, while Thanuka Dabare (51) and Sakuna Liyanage (44) stood out for Chilaw Marians CC. Lohan de Zoysa led the Nugegoda SWC run chase, hitting an unbeaten 51 (79 balls, 4 fours, 1 six).

In the top of the Group A table clash, Police SC had the better of the exchanges against Colts at the Mahinda Rajapaksa Stadium, Sooriyawewa, winning in the first innings.

Police SC did well to dismiss the strong Colts batting for 274 and gain a first innings lead of 43, which they stretched to 222 when they were bowled out for 179 in their second innings. Right-arm seamer Kavishka Anjula, with five wickets in each innings, took a match bag of 10/115 for Colts, who finished on 15-0 in their second innings. Left-arm seamer Nipun Premaratne picked up 4/52 for Police SC.

Tamil Union put up a feisty batting performance but fell short of Moors SC’s total of 393 by 43 runs to lose on first innings at the Welagedara Stadium, Kurunegala.

Resuming at 66-2, Tamil Union were first boosted by the third wicket stand of 110 between skipper Minod Bhanuka (66 off 99 balls, 8 fours, 1 six) and Sharujan Shanmuganathan (60 off 101 balls, 9 fours, 1 six), but tumbled to 157-6. The innings was then given a further boost by Sachitha Jayatilake (102 off 154 balls, 8 fours, 4 sixes) and Lahiru Samarakoon (73 off 119 balls, 4 fours, 4 sixes), who indulged in a 172-run partnership for the seventh wicket, raising hopes of surpassing Moors SC’s total. But seamer Shiran Fernando not only ended the partnership but went on to take 5/51 as Tamil Union were all out for 350.

Kurunegala YCC left-arm spinner Chamika Edirisinghe returned figures of 6/91 but could not prevent BRC from taking a first innings lead at Surrey Village Grounds, Maggona.

Overnight on 232-2, BRC looked set for a big total, but were put out for 322 by Edirisinghe and lost their last six wickets for 40 runs. BRC skipper Hashan Duminda scored 66 (10 fours). Lakshan Edirisinghe contributed 73* (6 fours, 2 sixes) in the Kurunegala YCC second innings of 196-7.

Hettigoda Group has been honoured with two prestigious accolades for the groundbreaking project, ‘Exploring the Bioactivity of Siddhalepa Asamodagam Spirit,’ at the recent SLTC Research and Innovation Awards 2025, highlighting the company’s dedication to scientific rigour and advancement in traditional medicine.

Siddhalepa was honoured with the coveted Outstanding Research Collaboration Award in Healthcare, Wellness and Life Science Research. This award highlights the successful partnership between the company’s research team and academic institutions, emphasising the collaborative spirit that advances scientific knowledge.

In addition to this major award, the project received a Certificate of Merit for indexed journal publication, affirming the high quality and international recognition of the scientific findings related to Siddhalepa Asamodagam Spirit.

The SLTC Research and Innovation Awards 2025, a distinguished initiative by the Sri Lanka Technology Campus (SLTC), celebrates excellence in industrial research, innovation, and vital industry-academia collaboration. Siddhalepa’s success highlights its team’s continuous dedication to pioneering research that validates and enhances the efficacy of its trusted products. With over 100 applications received, more than 40 awards were presented at the ceremony across Industry, University, and Faculty-level categories.

The ceremony, which recognised impactful research and innovative contributions advancing society and industry, was a notable gathering of leading academics, researchers, and industry partners.

Presided over by SLTC Vice Chancellor Prof. Chandrika Wijeyaratne and Organising Committee Chair Dr. Lakshitha Pahalagedara, the event featured Guest of Honour Ceylon Chamber of Commerce Chairperson Krishan Balendra, alongside other distinguished national and international attendees.

Hettigoda Industries was the only award winner, reinforcing its position as a leader committed to driving evidence-based progress in the healthcare and wellness sector.

Aitken Spence Travels marked a significant milestone with the handling of The Ritz-Carlton Yacht Collection’s first call to the ports of Colombo and Galle on 14 and 15 December.

This inaugural visit reflects Aitken Spence’s ongoing efforts to introduce world renowned, ultra-luxury cruise brands to Sri Lanka, elevating the country’s profile within the high-end global cruise travel segment, and establishing Sri Lanka as the ideal multiport destination for luxury travellers.

Celebrated internationally for its unmatched elegance and refined modern luxury, The Ritz-Carlton Yacht Collection offers a premier experience that merges the exclusivity of a private super yacht with the acclaimed service excellence of The Ritz-Carlton brand. The Collection’s arrival in Sri Lankan waters represents a significant step towards attracting a new demographic in the cruise travel segment, welcoming high-end, discerning travellers to the island.

Aitken Spence Travels is the official shore excursion provider for these idyllic calls to Colombo and Galle. In recent years, the company has placed a strong emphasis on developing the luxury cruise segment, fostering relationships with prestigious brands and showcasing Sri Lanka’s potential as an ideal destination for premium ocean journeys. The upcoming visit by The Ritz-Carlton Yacht Collection is a remarkable testament to the continued efforts of the company in promoting Sri Lankan tourism.

Aitken Spence Travels Managing Director Nalin Jayasundera said: ‘We are truly thrilled to welcome The Ritz-Carlton Collection to Sri Lanka on their maiden voyage. This milestone reflects the hard work and dedication of our team in positioning Sri Lanka within the luxury cruise travel segment. It is a significant endorsement of our country as a destination-of-choice, particularly at such a critical moment, bringing high-net-worth travellers to experience the island’s diversity through bespoke, privately curated shore excursions.’

Aitken Spence PLC Chairperson Stasshani Jayawardena said: ‘We are delighted that Aitken Spence Travels is leading the way as Sri Lanka’s premier destination management company, taking the first step in a long journey towards expanding the high-end cruise segment. Our commitment lies in creating unique, culturally immersive private tours that ensure guests leave with unforgettable memories of our island paradise.’

The yacht’s arrival is expected to draw considerable international attention, reinforcing Sri Lanka’s reputation as a unique and compelling destination for luxury exploration. Aitken Spence Travels looks forward to curating exceptional onshore experiences for The Ritz-Carlton guests and is positioned to continue attracting world-leading cruise brands to Sri Lanka.

Triton marks a significant milestone this year as it celebrates six years of service in the logistics industry, commemorated by the grand opening of its newly expanded corporate office in Colombo.

The new space represents Triton’s next phase of growth-built to support advanced operations, stronger collaboration, and a future-ready work environment.

Since its inception, Triton has established itself as a trusted logistics partner for businesses in Sri Lanka and across global markets. With industry-recognised credentials from DMS, SLAFFA, and FIATA, the company has built its reputation on reliability, transparency, and a relentless commitment to customer-focused service.

Designed to accommodate Triton’s rapid expansion, the new office features improved operational workflows, enhanced digital capabilities, and a collaborative layout that strengthens cross-functional communication. This modern infrastructure equips the team to deliver even greater efficiency, visibility, and real-time responsiveness to clients.

Managing Director Lakshitha Cooray said: ‘We are not just celebrating an anniversary-we are celebrating Triton’s evolution. This new office is a foundation for the next chapter of our journey. It reflects our commitment to innovation, our dedication to our customers, and our vision to shape the future of logistics.’

Triton continues to offer a comprehensive suite of logistics solutions including sea freight, air freight, custom house brokerage, cross trading, transshipment, and a range of specialised value-added services. With leadership teams and operations across Sri Lanka, the UAE, and the UK, the company remains focused on strategic global expansion while maintaining its promise of personalised service and 100% visibility.

Six years on, Triton said it remains driven by its mission to move businesses forward-stronger, smarter, and more connected than ever.

President Anura Kumara Dissanayake on Saturday (13) attended a Special District Coordination Committee Meeting held at the Mannar District Secretariat, convened to review ongoing efforts to restore normalcy to public life and rehabilitate infrastructure following the recent disaster.

At the meeting, Dissanayake affirmed that the Government will never allow the violation of the rights of the fishing community, emphasising the State’s firm commitment to protecting both land resources and the coastline.

He said that the Government will address the challenges faced by fishing communities across the country through discussion and constructive engagement, ensuring sustainable solutions while safeguarding livelihoods.

Highlighting the urgent need for a permanent solution to flooding in the Mannar District, the President instructed officials to proceed with the proposed flood control project after conducting comprehensive studies to ensure its long-term effectiveness.

Special attention was drawn to the severe impact of the disaster on the fishing sector. It was revealed that approximately 12,000 fishermen are currently unable to engage in fishing activities due to flooding and adverse weather conditions.

The President directed that dry ration packs be provided for one week to fishing families who, although not directly affected by floods, have lost their livelihoods due to unfavourable weather conditions.

Additionally, discussions were held on engaging with the Chinese Embassy to distribute a stock of fishing gear donated by the Government of China to fishermen affected by the disaster.

Attention was also focused on illegal land encroachments within the water catchment area of the Yodha Wewa Sanctuary. The President instructed that strict legal action be taken against individuals obstructing the placement of boundary markers around the reservoir.

It was reported that 70 families in the Mannar District have lost their homes due to the disaster. Discussions were held on rebuilding these houses and identifying suitable land for resettlement. A committee will be appointed to identify the required land within the next two weeks.

The meeting also addressed the expansion of facilities at Mannar Base Hospital and other hospitals, along with restoring health services and normalising educational activities in the district.

The President further instructed that the Rs. 15,000 assistance provided by the Treasury for schoolchildren be disbursed promptly through Divisional Secretaries, based on recommendations from Grama Niladhari officers.

Extensive discussions were also held on reconstruction of damaged roads and bridges, restoration of water and electricity supply, rehabilitation of irrigation systems, compensation for losses in agriculture and livestock sectors, and supporting affected communities to restart their livelihoods without delay.

At the District Coordinating Committee in Puttalam, the President instructed officials to give top priority to restoring the livelihoods of communities affected by the disaster. He emphasised the need to expedite compensation payments for damages and to take immediate measures to revive the agriculture, fisheries, and industrial sectors.

During the meeting, the rehabilitation of damaged highways and bridges in the district was discussed in detail. Dissanayake inquired into issues arising during these reconstruction efforts and provided on-the-spot solutions in consultation with the relevant officials.

The construction of the Lower Kala Oya Bridge was also discussed. The President instructed that a temporary bridge be built to meet the needs of the tourism sector. He emphasised that all construction activities should be carried out with a thorough understanding of necessity and proper structural assessments.

The President further highlighted that previous large-scale projects were abandoned without delivering tangible benefits or the intended outcomes. He stressed that future infrastructure development should focus not only on regional needs but also on the broader economic benefits for the country as a whole.

The President inquired about the ongoing efforts to restore electricity supply in the district and emphasised the need to complete these works without delay.

He also reviewed measures being taken to re-establish water supply and instructed provincial authorities to intervene promptly, noting that current well-cleaning efforts in the district are insufficient.

Regarding agriculture, the President inquired about preparations by local farmers for the upcoming Maha paddy cultivation. He directed officials to swiftly create a conducive environment for farming, minimise the amount of abandoned land, and explore alternative methods to ensure productive use of farmland.

He instructed that all compensation due to farmers be disbursed before 25 December, that payments be made regardless of whether the land is in reserve or legally protected areas, and that systematic measures be implemented to prevent cultivation on reserved lands.

The President also highlighted the need for comprehensive soil conservation programs in areas such as Kalpitiya.

The President emphasised the need to provide fair compensation to those engaged in the livestock sector in order to restore their livelihoods. He also highlighted the importance of obtaining accurate ground-level data and stressed the necessity of introducing legislation to ensure the registration of all livestock farms.

Due to the disaster, 627 houses in the district were completely destroyed, and 20,813 houses sustained partial damage. The President instructed that compensation for the affected families be expedited, emphasising priority resettlement on Government land. Where Government land is unavailable, he directed that Rs. 5 million be provided to each family for the purchase of alternative land.

For those whose houses were completely destroyed, the President directed that new housing projects be implemented in a manner that ensures ownership of a house valued at Rs. 5 million for each beneficiary.

Attention was also given to the fisheries sector. Discussions were held on providing assistance for the repair of damaged fishing boats, as well as implementing fair compensation and concessional bank loan schemes for prawn farmers.

President Dissanayake also inquired into the operations at Chilaw Hospital. Authorities informed him that patient admissions and the functioning of several units could resume by next week.

The meeting was attended by a distinguished group of officials and representatives, including the Public Administration, Provincial Councils, and Local Government Minister and Chairman of the Puttalam District.

The Trincomalee Sharks delivered a powerful statement at the inaugural Ceylon Golf League (CGL) tournament, finishing as runners-up in a highly competitive field of eight franchises.

The three-day tournament, held from 5 to 7 December, showcased exceptional golfing talent and set a new benchmark for the sport in Sri Lanka.

In a nail-biting finish that captivated spectators until the very end, the championship hinged on the final two holes of the last game, where the Sharks narrowly missed securing the title. Their poise under pressure, strategic play, and unwavering team spirit earned widespread respect across the League.

The franchise extended heartfelt appreciation to the entire team, led by Team Captain Sachin De Silva, whose leadership was instrumental throughout the tournament. The Sharks also recognised the tremendous commitment of Team Co-Owner Richard Gunawardene and Team Coach Binupa Wijesinghe, together with an outstanding group of players including Ayaan Gunasekara, Chris Benjamin, Deepani Gamage, Dhinuka Boralessa, Genuli Weerakoon, Husni Uwise, Kamlesh Johnpillai, Kumudu Gunasekara, Lalith Rohitha, Niloo Jayathilake, P.D.S.U. Kumara, Sajan Wickramasuriya, Thejas Kanth, and Y.K. Chung. Each contributed significantly to the team’s journey, reflecting true sportsmanship and unity.

The Trincomalee Sharks also expressed deep gratitude to their sponsors, JAT Holdings PLC, Betss.com, Asia Corp, Nexus Cargos, Devi Jewellers, Rubiq, 73Avenue Realtors, The Recovery Room, Natural Eats, Club Tropikai, James Global Minerals, St. Joseph Hospital, and Reignite, whose support played a vital role in powering the team throughout the League.

Proud of their performance and the foundation built this season, the Sharks now look ahead with determination, ready to return stronger and chase the CGL title in the seasons to come.

Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.

The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.

A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources. By maintaining a zero waste-to-landfill approach across its global operations, it ensures waste streams are either reused, recycled or processed for energy recovery.

Brandix Head of ESG Nirmal Perera said: ‘Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability. Caring for the environment we live and work in is essential to every stakeholder, and to our collective future. Responsible manufacturing guides our decisions, and this recognition reinforces our efforts in Sri Lanka and overseas.’

SLIM Brand Excellence Awards celebrate brand excellence at the highest level in the country, honouring marketing efforts and outstanding brand |

Vallibel Finance PLC has sustained its robust upward trajectory in the first half of FY 25/26, delivering exceptional financial results and further consolidating its position among Sri Lanka’s top five financial institutions. The company reported a Profit Before Tax (PBT) of Rs. 2.7 billion for the period under review, reflecting a remarkable 50% increase compared to the corresponding period last year, while Net Interest Income recorded a substantial 30% growth to Rs. 4.9 billion.

The company’s balance sheet and operational strengths remained evident, with its asset base expanding to Rs. 143 billion a healthy 28% increase from Rs. 112 billion a year earlier driven by healthy portfolio growth and prudent risk management. Non-Performing Loans (NPLs) improved significantly, declining to 2.78% from 5.19%, demonstrating stronger portfolio discipline and effective credit oversight.

This growth underscores improved asset quality, strengthened portfolio performance and disciplined cost management. It also reinforces the company’s milestone achievement earlier this year, when it became the fastest financial institution in Sri Lanka to surpass Rs. 100 billion in assets within just 17 years of operations, a testament to its rapid and sustained expansion.

Vallibel Finance’s profitability continued to strengthen during the first half of FY 25/26, with Profit After Tax (PAT) recording solid double-digit growth. PAT reached Rs. 2.6 billion for the period, up from Rs. 2.1 billion in the previous year. This performance reflects the company›s sharp improvement in PBT, supported by higher Net Interest Income, enhanced asset quality and continued operational efficiencies. The robust bottom-line growth highlights Vallibel Finance’s ongoing ability to translate top-line performance into sustained shareholder value despite a challenging macroeconomic environment.

Return on Equity (ROE) rose to 21.77%, up from 16.87% in 2024, signaling enhanced profitability and efficient capital utilisation. These indicators firmly position Vallibel Finance among the best-performing institutions in the sector and reflect its resilient business fundamentals amid economic headwinds.

A key driver of the company’s success is its ability to anticipate market shifts and introduce industry-first solutions. Vallibel Finance has pioneered innovative financial products that have gained strong customer traction and set new benchmarks in the industry. This innovative ethos extends across its digital transformation agenda, which focuses on elevating customer experience and optimising operational workflows through advanced technology.

Its nationwide presence remains a strategic strength, supported by a robust and continuously expanding network of 85 branches. This extensive footprint enables the company to serve customers across urban, semi-urban and rural markets, ensuring convenient access to its full range of financial solutions. It also plays a pivotal role in deposit mobilisation, lending expansion and customer engagement reinforcing Vallibel Finance’s reputation as a trusted and accessible financial services provider across Sri Lanka.

The expansion of the branch network in the Eastern Province is currently underway and is scheduled for completion by December 2025. The establishment of operations in the Northern Province is planned for early next year.

Vallibel Finance’s industry leadership has garnered consistent international recognition and accolades. The company has been honoured multiple times as Best Finance Company by The Global Economic (UK), reaffirming its standing as a future-focused and high-performing financial institution.

Furthermore, the Company adopts a strong and strategic digital approach, offering fully fledged solutions across all major digital channels to enhance customer convenience. This digital leadership not only strengthens its corporate image but also reinforces its position as a leader in the finance industry.

With its solid financial performance, expanding footprint and strong innovation pipeline, Vallibel Finance is well-positioned to capitalise on emerging opportunities and navigate evolving market dynamics with confidence. The company remains committed to driving value, resilience and progress across Sri Lanka’s financial sector.

US Ambassador to Sri Lanka Julie Chung held a discussion on Sri Lanka’s National Research and Development Policy and other matters with President’s Senior Adviser on Science and Technology Prof. Gomika Udugamasooriya recently.

According to the President’s Media Division, the meeting at the US Embassy in Colombo focused on the relief measures for communities affected by Cyclone Ditwah and the broader ‘Rebuilding Sri Lanka’ program, as well as the forthcoming National Research and Development Policy. Attention was also drawn to potential areas in which both countries could collaborate in implementing these initiatives.

The two sides also exchanged views on measures to attract greater US investment to Sri Lanka.

In addition, the discussion explored opportunities to enhance cooperation in emerging fields such as higher education, information technology, artificial intelligence (AI) and digitalisation under the National Research and Development Policy.

Ambassador Julie Chung noted that strengthening Sri Lanka’s research and development areas could open new pathways for Sri Lankan products and innovations to enter the US market. She also reaffirmed the United States’ support for enhancing technological and scientific cooperation between the two countries.