Lankem Rs. 1.2 b Rights Issue oversubscribed

Lankem Ceylon PLC said its 1:3 Rights Issue of over 17.1 million shares at Rs. 70 each has been oversubscribed.

The company intended to raise Rs. 1.2 billion via the Rights Issue and attracted over Rs. 1.36 billion worth of applications, subject to realisation of cheques, bank confirmations, elimination of duplication if any, and other verification, the company said. The share closed Tuesday at Rs. 89.10.

The company reported a net asset value per share of Rs. 64.73 as of end September 2025, down from Rs. 70.80 in the March quarter.

The Colombo Fort Land and Building PLC was the highest shareholder at 47.45%, followed by Darley Butler and Company (17.51%) and Senthilverl Holdings (10.16%).

PGP Glass Ceylon Dominates 2025 with National and International Awards in Sustainability, Design, Innovation, and Project Management

PGP Glass Ceylon PLC, the pioneer in glass manufacturing in Sri Lanka, recorded a remarkable year in 2025, securing multiple national and international awards highlighting its longstanding commitment towards sustainability, packaging innovation, and project management. Competing alongside leading global companies, PGP Glass Ceylon clinched the Gold Award at the International Convention on Quality Control Circles (ICQCC) 2025 held in Taiwan this month. The company received another Gold award at the National Cleaner Production Centre (NCPC) Awards, Gold and Silver honors at the Sri Lanka Packaging Awards 2025, and three Gold, one Silver, and one Bronze award at the National Project Management Excellence Awards 2025.

National and international recognition for sustainability

PGP Glass Ceylon’s impactful energy optimization efforts were recognized globally as the company secured the Gold Award under the Mid-Senior category at the recently held ICQCC 2025 in Taiwan. The award went to the PGP Synergy team for their project which focused on reducing LPG consumption in the annealing lehr through kaizens, burner curve optimization, damper standardization, and process control improvements. This effective application of Lean Methodology throughout the project was especially highlighted by systematic problem-solving, waste reduction, and data-driven improvement approaches. PGP team succeeded in winning this award, competing against over 300 international projects. This prestigious recognition reflects unwavering commitment to operational excellence, energy conservation, and sustainable manufacturing, reinforcing PGP Glass Ceylon’s reputation as a leader in continuous improvement and green innovation.

Additionally, the NCPC Sustainability Excellence Award was presented to PGP Glass Ceylon in recognition of its comprehensive efforts to reduce the environmental footprint of glass manufacturing. The company implemented multiple initiatives aimed at optimizing operations for improved energy efficiency, enhancing water recycling process (systems) to achieve 100% reuse, and minimizing waste generation through circular material management. As a result, PGP Glass Ceylon recorded significant energy savings, reduced greenhouse gas emissions, and strengthened overall operational efficiency.

The NCPC Sustainability Excellence Award celebrates Sri Lankan organizations that demonstrate leadership in sustainable industrial practices and contribute meaningfully to the country’s transition towards a circular economy.

Innovators in packaging design

PGP Glass Ceylon PLC was honored with the Gold Award at the Sri Lanka Packaging Awards for the design and innovation of the 750ml Still Gin bottle crafted for Dr. Dre and Snoop Dogg. The awards, organized by the Sri Lanka Institute of Packaging, also recognized the company with the Silver Award for its distinctive and elegant 750ml VA Blue Super Premium Vodka bottle.

These accolades stand as a testament to PGP Glass Ceylon’s ability to deliver world-class packaging solutions that blend design sophistication with sustainability, further solidifying its reputation as a global leader in premium glass packaging.

Excellence in project management

PGP Glass Ceylon PLC earned recognition across several categories at the National Project Management Excellence Awards 2025. Among the highlights was a Gold Award for the ‘Best Green Project of the Year’ for enhancing circularity by reusing black cullet in amber glass manufacturing. This initiative reduced raw material usage and advanced the company’s long-term zero-waste commitment.

Another Gold Award was presented for the ‘Best Startup Project of the Year,’ recognizing the company’s innovative approach to sustainable water management. By installing monitoring systems, improving processes, and encouraging awareness-driven behavioral change, the project achieved significant water savings within a short period and set the foundation for future reduction targets.

The company secured a further Gold Award for the ‘Best Lean Project of the Year’ for implementing lean technologies and process optimization techniques to streamline packaging operations, eliminate inefficiencies, and substantially reduce polythene usage. These efforts have led to measurable waste reductions and improved production efficiency.

PGP Glass Ceylon also clinched the Silver Award for the ‘Best Managed Project in the Manufacturing Sector’ for successfully reducing LPG consumption, resulting in lower fuel costs and reduced carbon emissions.

The company also received the Bronze Award for ‘Overall Best Project Management Organization in Sri Lanka’ – an achievement that firmly positions the company among the nation’s leading institutions in project management excellence.

Collectively, the awards mark a milestone year for PGP Glass Ceylon PLC and highlight the success of its long-term sustainability and operational improvement strategies. As the company continues to advance its initiatives, it remains committed to setting new industry standards in environmental stewardship and manufacturing advancement.

The Chef’s Table: Where 5-Star flavor meets every day warmth

In the heart of Colpetty, nestled along the vibrant Walukarama Road, a culinary gem has emerged- The Chef’s Table. Since its opening in May 2025, this charming eatery has been redefining the dining experience by blending the finesse of five-star kitchens with the warmth of a neighborhood restaurant, all at an accessible price.

Whether you’re gathering with family, catching up with friends after work, or simply craving a cozy meal, The Chef’s Table welcomes you with both indoor and outdoor seating designed for comfort and connection. The ambiance is relaxed yet refined, perfect for intimate dinners or casual hangouts.

At The Chef’s Table, passion for food runs deep. The menu is a celebration of variety and taste, featuring: Juicy burgers and mouth-watering grills; Creamy pastas and hearty wraps; Savory rice dishes and refreshing shakes and Weekend specials like BBQ nights, Asian fusion, and authentic Sri Lankan cuisine.

Every dish is crafted with care, ensuring generous portions and unforgettable flavor.

One of the restaurant’s crown jewels is its handcrafted Artisan Gelato. Made in small batches using premium ingredients, flavors include: Rum and Coffee; Bolo di Amor (inspired by Sri Lanka’s beloved love cake); Malt and Chocolate Chip; Decadent Chocolate and Matcha and more.

These indulgent creations are also available as part of their signature shakes perfect for Colombo’s tropical climate.

Sweet tooths rejoice with a dessert lineup that includes: Silky Crème Brûlée infused with coconut and pandan (bringing Sri Lankan flavors to French classics); Creamy rich Tres Leche and Warm skillet cookie topped with artisan gelato. Each dessert is a testament to the team’s commitment to quality and creativity.

The Chef’s Table can also host up to 25 guests for intimate functions. For those who prefer to dine at home, the ‘Take Me Home’ catering menu is available for groups of six or more. Every catering order is treated as a reflection of the restaurant’s kitchen with meticulous attention to detail and a generous dose of love.

At the helm is Chef Andre, a seasoned culinary artist trained in prestigious international hotels across Sri Lanka and Singapore. Alongside his dedicated team, Chef Andre brings world-class expertise to every plate served.

People’s Leasing & Finance PLC Secures Merit Award at National Cleaner Production Awards 2025

People’s Leasing and Finance PLC (PLC) is proud to announce that it has been honored with a prestigious Merit Award in the Finance Sector under the Service – Large Category at the National Cleaner Production (NCP) Awards 2025, held on 06th November 2025 at Cinnamon Lakeside, Colombo. This significant recognition underscores PLC’s unwavering commitment to best sustainable practices,resource efficiency and environmental responsibility.

The NCP Awards, organized by Sri Lanka’s National Cleaner Production Centre (NCPC), serves as a benchmark for excellence in cleaner production, encouraging innovation and sustainability across diverse sectors of the economy. The Award specifically highlights the company’s successful implementation of comprehensive cleaner production strategies and resource efficiency initiatives across its operations.

NCP Awards 2025 recognizes organizations that not only comply with environmental regulations but also go beyond compliance by introducing innovative, cost-effective and eco-friendly solutions that enhance productivity and competitiveness. This recognition underscores PLC’s continuous commitment to adopt cleaner production principles, which focus on waste reduction, efficient use of raw materials and energy, minimization of environmental impact and implementation of green technologies.

Commenting on the achievement, Chief Executive Officer/General Manager of People’s Leasing and Finance PLC, Mr. Sanjeewa Bandaranayake said, ‘We are honored to receive this Merit Award,which reaffirms our dedication to creating value responsibly. Sustainability is at the core of our organizational strategy, and we continuously strive to enhance resource efficiency, reduce environmental impact, and promote green thinking across our operations. This recognition inspiresus to promote a culture of sustainability that aligns with Sri Lanka’s national sustainable development goals and global commitments such as the United Sustainable Development Goals.

People’s Leasing and Finance PLC remains committed to driving positive environmental impact through ongoing its green initiatives, innovation and industry leadership in sustainable finance practices.

People’s Leasing and Finance PLC, a subsidiary of the People’s Bank, is renowned for its comprehensive suite of financial services, including leasing solutions, loans, and other financial products for both individuals and businesses. With a relentless focus on excellence and customer satisfaction, PLC continues to play a pivotal role in the transformation of the Sri Lankan financial and leasing industry.

EDB hosts inward EU delegation

The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Embassy in Brussels, successfully organised an inward trade delegation comprising 12 Fair Trade product importers and representatives from the European Union from 17 to 22 November, with the objective of promoting Sri Lankan Fair Trade products and strengthening bilateral trade relations between Sri Lanka and the EU region.

The delegation included representatives from key European markets including Belgium, France and Italy. Notably, Colruyt Group, a major Belgian retail chain, confirmed its participation alongside seven other representatives, demonstrating strong interest in Sri Lankan Fair Trade products. The Brussels Embassy enhanced the delegation’s impact by facilitating the participation of officers from National Federation Organisations (NFOs) including Fair Trade Italy, Fair Trade Belgium, Fair Trade France, all of which maintained established commercial relationships to increase Fair Trade certified sales volumes in their respective countries.

The program commenced on 17 November at The Kingsbury Hotel, Colombo 1. The opening ceremony concluded with a networking session that brought together EU delegates, Sri Lankan companies, certification bodies, and relevant government institutions.

From 18 to 22 November, arrangements were made by the EDB for Sri Lankan companies to meet the visiting buyer delegation through tailor-made visits to Fair Trade and organic certified producers and exporters. The comprehensive programme included direct business-to-business meetings, field visits to processing units and farmer clusters, and forums to facilitate knowledge exchange and to discuss possible business opportunities. The EDB also facilitated meetings with relevant government institutions and certification bodies to discuss relevant matters like monitoring systems, maintenance of traceability, and government support mechanisms available for Fair Trade producers.

The European delegation was particularly interested in meeting Sri Lankan exporters in product sectors including spices, rice, coconut products, tropical fruits and tea. The EDB discussed an innovative concept linking Sri Lanka’s Fair Trade farmer clusters with the Fair Trade Town system operating in the EU, potentially creating new frameworks for sustainable trade partnerships.

The EDB projects substantial outcomes from this initiative, targeting an increase in orders to the EU region of approximately $ 4-6 million for 2025-2026. The EDB anticipates establishing direct linkages to supermarket value chains for three to four companies and successfully connecting one to two Fair Trade clusters in Sri Lanka with the Fair Trade Town concept in Europe.

The European Union is a significant market for Sri Lanka’s Fair Trade products. The global Fair Trade Certification market, valued at $ 10.7 billion in 2024, was projected to reach $ 23.6 billion by 2033, representing a robust growth rate of 9.2% annually. Sri Lanka’s Fair Trade-certified products had gained significant traction in the European Union, driven by sustainability-conscious consumers seeking ethically produced goods. In 2023, the nation’s Fair Trade exports generated approximately $ 2.5 million, supported by 72 export companies and nearly 28,000 farmers engaged in sustainable production practices.

’Big Bold Brave 2025′ Harvard APAC Regional Conference

The ‘Big Bold Brave 2025’ (BBB 2025), a transformative platform spotlighting opportunities in the fast-emerging Asia-Pacific (APAC) region, concluded recently in Colombo, gathering renowned industry leaders from across the world for future-focused dialogue.

Organised by the Harvard Club of Sri Lanka, BBB 2025 was held 12-14 November at Cinnamon Life – City of Dreams, Colombo.

The three-day event began with an exclusive welcome event on 12 November, with the main conference the following day bringing together leaders and delegates from over 15 countries in the region.

The summit featured recognised leaders in business, government, academia, NGOs, and Harvard Alumni who spoke on core challenges and opportunities that will transform the region within the next 25 years. The event included a remarkable lineup of keynotes, panels, case studies, and workshops, helping participants explore opportunities in five topics areas: Education, human capital development, and jobs of the future; Technology, digital economy, and entrepreneurship; Modernising agriculture and food security; Energy infrastructure development and Environment, sustainability, and climate change adaptation.

Setting the tone for the summit’s discussions, day one of the conference opened with a keynote by nature scientist, conservation leader, and Time100 Climate Leader Dr. M Sanjayan who explored how preserving nature was of key economic interest.

Embracing nature as economic strategy

‘We stopped treating nature as our planet’s infrastructure. We started treating it as an excess at best and hostile at worst. The cost of that decision is not actually environmental. The cost is economic. It’s national.’ Countries that understand nature as economic infrastructure would therefore be the ones to win the future.

Sanjayan said that for the first time in human history, the development and transformations taking place right now were faster than their values, ethics, and nature’s ability to replenish itself. He explained that in this context, humans had severed their bond with nature, and in doing so, built economies on top of the very systems that sustain them.

‘When nature’s infrastructure fails, economies don’t just shake, they can actually break.’ He illustrated the point with a few global examples. In Maldives, coral reefs were the foundation of the economy, with a 20% contribution to GDP through tourism, which was based entirely on the reef system. Another 20% was from fisheries.

One of his most striking examples was Amazon, which highlights how environmental degradation can result in economic paradoxes. Deforestation there emits as much carbon per person as Qatar (about 33 tons per capita), yet average income was below $ 5,000.

‘There’s no other region that emits so much and has produced so little wealth for its people.’ By contrast, the Amazon’s intact ecosystem performs ‘$ 3 trillion worth of work’ each year in climate regulation, rainfall generation, and carbon generation, a value that is greater than Apple or Amazon, the company,’ Sanjayan noted.

Sanjayan stressed that the next phase of global growth would therefore come from restoring, not exploiting nature. ‘Protecting nature now is a profitable activity. It’s not just symbolic.’

He pointed to the economic /financial tools emerging today such as debt-for-nature swaps, blue and green bonds, carbon markets, and reef insurance. There was potential to go even further, he added. ‘You can get into more speculative things like crypto or stablecoins, where you create a coin that is backed by a natural asset- like hydro or of a country’s forest.’

Sri Lanka was well-placed to lead this shift with its immense ecological diversity and compact geography, Sanjayan pointed out. In some ways, the country was already ahead of the curve, with a visible absence of plastic in Sri Lanka’s beaches being a ‘remarkable thing in Asia’.

‘We have a massive amount of natural capital all tucked into a small geography, from water to forests to fisheries. And we still have cultural memory still alive within us. that reverence of nature in our religions and cultural practices,’ he noted.

Building on this vision of nature as infrastructure, Asia’s food systems highlight a critical intersection of environment and economy. Just as economic stability increasingly required a more focused strategy on nature conservation, experts at BBB 2025 highlighted that the region must go beyond simply producing enough calories to ensure nutrition, affordability, and resilience in the face of shocks.

Food Security to nutritional security

As the world transforms with technology and Asia overcomes its former challenges, the region must look deeper into the challenges affecting its people and the countries’ stability. ‘Feeding 3 in 5 in the world,’ a discussion on food security and innovation in Asia featured a panel of experts who argued that Asia must move beyond merely feeding its people to nourishing them sustainably.

Linking nutrition directly to economic growth, Waseda Global India CEO Sumit Gupta highlighted that protein consumption per capita mirrored income levels and human development. ‘More people now die of obesity than hunger,’ he said, stressing the need to focus on what people eat, and not just how much.

Patanjali Foods India CEO Sanjeev Asthana also highlighted how hunger was evolving: ‘You may be driving a car, but still be hungry.’ He pointed to a widening gap between food availability and access to affordable, nutritious diets, underlining how hunger was no longer defined by starvation, but also malnutrition and the lack of nutritional diversity.

For India and much of Asia, the fixation on food grains like rice and wheat had overshadowed nutrition and quality of life. The policy challenge, then, was not just about producing food, but also affordability and a focus shift to nutrition, Asthana said.

According to World Food Programme (WFP) Sri Lanka Deputy Country Director Robert Oliver, the most pressing threat is inflation. Commodity prices have seen a sharp surge since the pandemic, leaving the poorest households vulnerable. While 2024 WFP data showed progress where food insecurity in Sri Lanka has dropped from 24% to 16%, Oliver said the most at-risk communities still ‘don’t have a voice.’ He called for stronger shock-responsive social protection systems (safety nets that deliver cash or food when crises hit).

The discussion was moderated by United Nations Development Programme (UNDP) Sri Lanka Business and Digital Strategy Consultant Sarani Jayawardene.

As the discussion on food security highlighted the urgent need for resilience and the need for transformation at the local level, a different panel widened the lens to explore how global economic systems, trade, and sustainability intersected in shaping development outcomes.

Rethinking development and global responsibility

Opening the panel ‘It’s a funny world – but no laughing matter’ on the global economic outlook, trade, and sustainable development, Verité Research Sri Lanka CEO Dr. Nishan De Mel pointed out the ‘ironies of the world we live in,’ where humanity has unlocked the mysteries of space and nanoparticles, but still failed to curb carbon emissions or prevent starvation and conflict.

He urged that economics should return to its core purpose of ‘fostering human flourishing’, praising Asia’s steady journey and success of lifting millions out of poverty through sustained development and relative peace. ‘You will think that the biggest problems of the global economy are the two T’s: Trump and tariffs. The truth is these are sideshows, the much larger risks are poverty, pollution, and peace, which disrupts so much of the possibilities of our world.’

UNDP Sri Lanka Resident Representative Azusa Kubota expanded on those global challenges, noting that ‘90% of the measurable SDG indicators are off track’ less than five years before 2030. However, from debt-for-nature and debt-for-energy swaps to SDG aligned bonds, there was still opportunity in financial innovation to redirect resources from debt servicing to sustainable investment. ‘This is really a moment in history where we have to rethink education, skills, and financing,’ she said, warning that inequality in South Asia was now among the world’s highest.

In contrast to the previously mentioned challenges, Singapore Professional Centre Chairman Leong Sze Hian offered a success story. Outlining the ‘Singapore model,’ he highlighted how responsible financial governance and shared responsibility between the citizens and the state enabled strong public housing, healthcare, and pension systems, which were all self-financed and sustainable. ‘From a cash flow perspective, the inflows exceeds the outflows every year.’

This panel was moderated by The Examiner CEO and economist Daniel Alphonsus.

More discussion and activities at BBB 2025

Day one of the conference also featured a panel discussion ‘Human Capital in South Asia’ with speakers including Critavo UAE CEO Andy Palanasamy, KIIT University and KISS University Odisha India Vice President Dwiti Wickramaadithya, and MAGNA Education Founder and Colosseum Group Chairman Shailendra Tipparaju, Harvard Business School India Research Center Researcher Kairavi Dey, and Harvard Club of Sri Lanka Founder Kandeban Balendran.

‘Finding Common Ground’, a panel discussion on leadership for economic growth and regional cooperation in the Asia Pacific featured Ceylon Chamber of Commerce Deputy Chairperson and Hirdaramani Group Chairperson Vinod Hirdaramani, TERN Group UAE Founder and CEO Avinav Nigam, AFIG FUNDS UAE Senior Advisor Arjette van den Berg, and LOVI Sri Lanka Founder Asanka de Mel.

Accenture UAE Executive Adviser for Real Estate Robert Coulson, Harvard Alumni Association Asia Pacific Regional Director and serial entrepreneur Sajju Jain, Short Circuit Sri Lanka Managing Director Bhanuka Harischandra, and UAE Special Envoy for Business and Philanthropy Strategic Partnerships Vice President Nishant Singh engaged in a discussion themed ‘AI: the biggest leap in human history,’ exploring the necessity to prepare for a transformed future.

A panel on ‘Digitalisation for rapid growth and global security’ explored navigating privacy and ethics in a connected world. It featured ICT Agency of Sri Lanka Chairman Dr. Hans Wijayasuriya, RK Group India Founding Chairperson Ramesh Kumar Shah, CMS Holborn Asia Singapore and Sri Lanka Managing Director Lakshanthi Fernando, and Precisely India Head and Vice President of Professional Services Sooraj Mundayat.

KIIT University and KISS University Odisha India Founder Dr. Achuta Samanta also shared his journey and strategy in establishing the two institutions in what was then one of India’s poorest states. This case study themed ‘Building India as an education hub’ explored how to massively scale up educational resources, and was moderated by Assiduus UAE Founder and CEO Somdutta Singh.

Other sessions of the first day included one by Happiness Quotient Global India Founder Manny Anchan, who led a session on identifying and prioritising key areas of improvement to enhance overall wellbeing and thrive.

The event was powered by Mastercard while Daily FT was the official print media partner.

Message from the Chief Executive Officer of National Cleaner Production Centre, Sri Lanka

The National Cleaner Production Awards scheme was introduced in 2007 with the aim of recognizing enterprises that demonstrate leadership in resource efficiency and environmental responsibility. At the time, it was a pioneering initiative in Sri Lanka, intended to encourage industries to adopt cleaner production practices and to position the country on par with evolving international sustainability standards.

Today, Sri Lanka has made appreciable progress in integrating cleaner production concepts into industrial operations. It is heartening to see the growing willingness of our industries to move towards environmental sustainability, not merely as a compliance requirement but as a strategic business direction. This momentum is a reassuring sign of the country’s readiness to take up modern and responsible manufacturing and service processes.

This year’s Awards ceremony was held parallel to another significant event-the 3rd International Conference on Resource Efficiency and Circular Economy. Hosting two major national events on the same day was undoubtedly a challenge, yet both were remarkably successful. Together, they served one common purpose: to enhance awareness, build capacity, and inspire Sri Lankan industrialists to move towards environmentally sound and resource-efficient practices.

These outcomes are the result of a collective and dedicated effort by the entire NCPC team, who worked tirelessly to organize the events and uphold the integrity of the evaluation process. I extend my sincere appreciation to them for their commitment and professionalism. I also must make a special thanking note of the remarkable and commendable services extended by the eminent and distinguished Panel of Judges headed by Professor Ananda Jayawardena and our independent evaluators.

Finally, I offer my heartfelt congratulations to all winners. Your achievements symbolize the direction in which Sri Lankan industry must advance towards innovation, responsibility, and sustainable development. May your efforts continue to inspire others in the years ahead.

HNB wins ‘Best Corporate Citizen Sustainability Award 2025’

Hatton National Bank (HNB) yesterday won the coveted ‘Best Corporate Citizen Sustainability Award 2025’ at the 22nd Best Corporate Citizen Sustainability (BCCS) Awards organised by The Ceylon Chamber of Commerce at the Cinnamon Grand Hotel.

Commercial Bank of Ceylon and Hemas Holdings were adjudged the first and second runners-up, respectively.

The annual BCCS Awards are the premier corporate citizenship award and highlight sustainability champions in the national corporate arena. The awards promote corporate citizen sustainability ownership, and initiatives that deliver social and environmental benefits while pursuing profits.

Talawakelle Tea Estates walked away with the Category B ‘Best Corporate Citizen Sustainability Award 2025,’ awarded to companies with an annual turnover below Rs. 15 billion, while Elpitiya Plantations and Kelani Valley Plantations were awarded as the respective first and second runners-up in this category.

Top 10 Corporate Citizens

This Award recognises the top 10 corporates which have implemented outstanding sustainability initiatives under both ‘Category A and B’. CBL Investment Ltd., (CBL Group), Commercial Bank of Ceylon, Dilmah Ceylon Tea Company, Dipped Products, Elpitiya Plantations, HNB, Haycarb, Hemas Holdings, Talawakelle Tea Estates, and Teejay Lanka were adjudged the Top 10 Corporate Citizens of 2025.

Best Projects Sustainability Awards 2025

These Awards recognise the efforts of the private sector to engage in specific projects relating to key aspects of sustainability relevant to the organisation, and in response to contextual needs. The five projects awarded under this category are: CBL Foods International Ltd., – Ritzbury Mawbimata Weerayek; DFCC Bank PLC – DFCC Green Bond – Pioneering Green Finance in Sri Lanka; HNB PLC – Solo Podi Podi Business: Women Empowerment through Digital Literacy; MAS Intimates – Wet Zone Leopard Conservation Project; and MJF Charitable Foundation – Empower Culinary and Hospitality School (ECHS).

Triple Bottom-line Awards

Awarded to companies with the best performance in the three sustainability pillars of Planet (Environmental Sustainability), People (Social Sustainability), and Profit (Economic Sustainability), Oxford College of Business won the Award for Environmental Sustainability, while Nestlé Lanka and HNB were awarded the Social Sustainability and Economic Sustainability Awards, respectively.

Category awards

Winners of the category Awards are: Oxford College of Business for Corporate Environmental Commitment, Dipped Products for Environmental Integration, Nestlé Lanka for Environment Beyond the Business, Employee Relations, and Customer Relations, Softlogic Life Insurance for Financial Performance, Commercial Bank of Ceylon for Governance, Hemas Holdings for Supplier Relations, Elpitiya Plantations and Citizen Development Business Finance for Community Relations, and HNB for Economic Contribution.

Sector-based sustainability champions

Awarding the best sustainability performance in the specific sectors corporates operate in, the winners are: Talawakelle Tea Estates – Agriculture, Hayleys Fentons – Construction, Hemas Holdings – Diversified Holdings, Hatton National Bank – Finance, Nawaloka Hospitals – Healthcare, Oxford College of Business – Knowledge Services, CBL Investment (CBL Group) – Manufacturing, Singer (Sri Lanka) – Retail, and South Asia Gateway Terminals under the sector – Other.

Dilmah Ceylon Tea Company won the award for Resilient Practices, and Commercial Bank of Ceylon won the award for Best Presented Application.

Oman exploring avenues to deepen economic ties with Sri Lanka

Oman is accelerating its efforts to attract foreign investment and sees growing opportunities for Sri Lankan businesses and professionals in tourism, manufacturing, agriculture and education, according to the country’s Ambassador’s to Sri Lanka.

Ambassador Ahmed Ali Said Al Rashdi said that as part of Oman’s Vision 2040 economic transformation plan, the Sultanate continues to open up its markets in order to attract foreign investors across all sectors.

‘Tourism is one of our booming sectors’ he added. ‘In 2024, we welcomed approximately 3.9 million visitors, up from 3.7 million the year before, and the Government expects to increase arrivals by about one million each year.’

To support the growth, Oman plans to expand its infra-structure with six new airports while also upgrading Salalah and Sohar to international standards. Oman is further investing in major hotel developments in partnership with leading global brands.

Sri Lanka’s Santani Group, for instance, has partnered with Oman’s State- owned tourism developer Omran to build two luxury resorts in Salalah and Jabal Al Akhdar near Muscat.

Foreign investors are now permitted to buy property in selected zones such as Al Mouj, Sultan Haithem City, Al Khuwair Downtown and other designated areas, where several 40 story towers are being planned.

‘We are gradually opening more cities for foreign ownership,’ the Ambassador said. ‘This approach gives investors greater confidence in Oman’s real estate and hospitality sectors’.

Oman has also introduced a 10 year Golden Visa for investors who commit at least $ 500,000, offering residency for their families along with range of additional benefits. ‘This is the first time in our history that we have such a system,’ the Ambassador said.

Beyond tourism and real estate, the Ambassador noted that industrialisation is central to Oman’s diversification drive. The public establishment for Industrial Estates known as Mada’in manages 15 industrial estates and four free zones that offer long-term leases, tax holidays of up to 30 years and 100% profit repatriation.

The Omani Ambassador noted there are prospects for more Sri Lankan private schools and collage to enter the market. ‘Currently, we have only one Sri Lankan school in Oman’, he said. He emphasized that education is a gateway where collaboration can grow rapidly

‘We do not depend on one sector,’ he said. ‘We are open to all sectors, including manufacturing, logistics, energy, fisheries, apparel, agriculture, minerals, jewelry and information technology and our budget exposure to non-oil sectors is about 65%’.

Oman’s technology ambitions are anchored by knowledge Oasis Muscat, a technology zone, houses more than 300 IT firms, including Oracle and Microsoft, alongside digital education institutes. The annual COMEX IT convention this year announced plans for an innovation and Al Zone in Muscat to attract startups and research firms.

Ambassador highlighted the advantages of Oman’s strategic location, stable currency and Free Trade Agreements with the United States, Singapore and soon India.

‘Any company that establishes in Oman can trade across all Gulf Cooperation Council (GCC) countries as a local company’ he noted. ‘Our economic and political stability along with strong fiscal policy is one of our biggest strengthens’.

He said Omani firms already maintain partnerships in Sri Lanka’s energy and logistic sectors. The state-owned energy group OQ, part of the Oman Investment Authority (OIA), has been supplying liquefied petroleum gas to Sri Lanka. The logistics conglomerate ASYAD, which manages ports, shipping and airlines including Oman Air and Salam Air also operates under the OIA’s portfolio.

In agriculture, Oman recently signed 278 new contracts with investors interested in farming projects.

‘We already have interest from a Sri Lankan investor to participate at this sector,’ the Ambassador said.

He noted that bilateral cooperation has been strengthened since his arrival in 2022. ‘We have signed Government-to-Government MOUs in tourism and agriculture sectors, and three more MOUs are in progress,’ he said. We are also working on student exchanges and institutional partnerships between universities’.

Eight Sri Lankan Universities have applied for recognition in Oman and three of them got the recognitions and the Ambassador noted there are prospects for more Sri Lankan private schools and collage to enter the market. ‘Currently, we have only one Sri Lankan school in Oman’, he said. He emphasised that education is a gateway where collaboration can grow rapidly.

On trade, he said that although bilateral volumes remain relatively modest due to indirect trade routes, they have recorded a gradual increase in recent time. ‘Interest from Sri Lankan companies is of course growing at a welcoming rate. When they visit Oman, they realise that utilities, taxes and living costs are much lower than elsewhere’.

Oman has been stable for more than five decades maintaining the same exchange rate to the dollar for around 55 years. That stability, along with a market oriented economy, makes Oman a gateway for Sri Lankan businesses to the Gulf and beyond

He believes that Sri Lankan businesses can find potential opportunities in tourism development, apparel manufacturing, agribusiness and technology ventures.

‘Our role is to build bridges between the business communities’, he said. ‘We never encourage anyone to invest blindly; we provide accurate information with the objective of creating synergies and confidence enabling them to make smart and informed decisions’.

Oman has introduced investor-friendly policies to encourage active participation and collaboration. Company registration can now be done online with no minimum capital requirement. Around 83 types of business activities require no additional licenses and foreign investors can repatriate all profits freely.

‘Oman has been stable for more than five decades maintaining the same exchange rate to the dollar for around 55 years. That stability, along with a market oriented economy, makes Oman a gateway for Sri Lankan businesses to the Gulf and beyond,’ the Ambassador said.

Automobile Technologies Drive Innovation Forward with Exclusive GAC Test Drive Experience

Automobile Technologies, Sri Lanka’s premier EV company, brought a wave of innovation and excitement to the heart of Colombo with an exclusive outdoor test drive event featuring the luxury electric vehicle brand GAC, held at the Nelum Pokuna premises recently.

The event served as a unique platform for automobile enthusiasts, prospective buyers, and influencers to experience the future of mobility first-hand. Attendees were given the opportunity to test drive GAC’s Aion EVs, gaining an up-close understanding of their dynamic performance, intelligent technology, and sleek, modern design.

Through this experience, visitors witnessed how GAC combines sustainability with luxury, showcasing vehicles that are not only environmentally conscious but also engineered for exceptional safety and driving pleasure. From advanced driver-assistance systems to intelligent connectivity features, the Aion EV lineup embodies the brand’s commitment to creating smarter, cleaner, and more connected journeys.

The GAC Aion range comes in three variations, with Aion V, Aion Y and Aion ES, starting at just Rs. 14.5 Mn. The Aion range also comes with an eight-year or 160,000Km bumper-to-bumper warranty on the vehicle and an eight-year or 200,000Km warranty on the battery.

The test drive event also marked another milestone in GAC’s growing presence in Sri Lanka’s automotive landscape. With the recent opening of its flagship showroom at the CCC Mall, GAC now offers customers the opportunity to explore its range of electric vehicles in a premium, immersive setting; which in itself is a testament to Automobile Technologies’ dedication to bringing world-class mobility solutions to Sri Lankan drivers.

As Sri Lanka continues its shift toward sustainable transport, Automobile Technologies remains at the forefront of this transformation, putting innovation, green technology, and the electrification of mobility at the forefront, with GAC as a key partner in driving the nation toward a smarter and more sustainable future.