Category: Daily Financial Times

Trinity College recently awarded Lion and Colours for their rugby outfit during the 2025 season’s performances. The outfit won the Schools League after a lapse of 38 years.

Shan Althaf will lead the outfit during the 2026 season, while Nisith Kumarasinghe and Udan Wijekoon will be the Co-Vice Captains of the outfit.

Fazil Marija will be the Head Coach once more.

Lion

Usmaan Safraz

Shan Althaf

Nisith Kumarasinghe

Manusha Silva

S. Satheeshkumar

Colours

Dishal Thomas

Onija Kodituwakku

Tevin Udukumbura

Achintha Jayasena

Ravindu Jayasinghe

Hamza Abdeen

Minula Yaddehige

Ramindu Wanasinghe

Ishara Premachandra

Ridma Nimneth

Akash Fernando

Ammar Manzil

Colours rewarded

Udan Wijekoon

The Initial Public Offering (IPO) of JF Packaging Ltd., was oversubscribed by more than six times, reflecting strong investor confidence in both the company’s growth potential and the broader appetite for quality local listings.

Priced at Rs. 11.60 per share, the IPO offered 51.7 million ordinary voting shares through an Offer for Subscription, aiming to raise Rs. 600 million and valuing the company at a market capitalisation of approximately Rs. 2 billion. The issue attracted over 7,500 applications and raised a total of Rs. 3.7 billion, marking one of the most successful IPOs in recent times.

HNB Investment Bank (HNBIB) served as the Financial Advisor and Manager to the Issue, playing a lead role from inception to execution. The firm guided JF Packaging through the entire process, from initial structuring and valuation to regulatory submissions, investor engagement and final allocation.

Established in 1987, JF Packaging Limited has evolved into one of Sri Lanka’s leading flexible packaging manufacturers, supplying to many of the country’s top FMCG brands. The company’s continued investment in innovation, sustainability, and advanced manufacturing has positioned it as a key contributor to Sri Lanka’s industrial development.

HNB Investment Bank Senior Assistant Vice President Shivanthi Sugathadasa, who led the transaction said: ‘We are delighted to have partnered with JF Packaging on this milestone IPO. Our team worked closely with the company from the earliest stages to develop a robust issue structure and value proposition that would resonate with both institutional and retail investors. The exceptional oversubscription reflects not only the strength of JF Packaging’s business fundamentals but also the growing investor confidence in well-managed, high-performing Sri Lankan enterprises entering the capital market.’

HNB Investment Bank’s expertise in end-to-end issue management, strategic advisory, and investor outreach continues to reinforce its position as one of Sri Lanka’s most trusted investment banks, enabling homegrown businesses to access capital and scale sustainably.

The Shippers’ Academy Colombo will be conducting an awareness workshop on best practices to be established in international sales contracts for merchandise cargo on 19 November from 9.00 a.m. to 12.30 p.m. at the Distance Learning Centre, Colombo 7.

It will be conducted by Shippers’ Academy Colombo CEO Rohan Masakorala, certified UNESCAP trainer and ICC Paris.

The Academy said when establishing international sales contracts, companies need to know how to structure a sales contract clearly defining specific clauses in the sale of goods. This includes, incorporating governing laws, payment criteria, delivery, transfers and dispute resolution among many others. Over the years, it has been understood that many companies do not follow professionalism in establishing international sales contracts, which has led to many misunderstandings, costing buyers, sellers and traders.

It is important to insist on written contracts as verbal agreements are not valid in many countries to provide clarity and legal protection in case of disputes. As a result, companies lose business, spend money on unnecessary legal procedures costing millions of dollars and also possible loss of new clients due to bad reputation.

The Chamber of Lankan Entrepreneurs (COYLE) is once again championing Sri Lanka’s entrepreneurial spirit with the much-anticipated ‘I AM COYLE Leadership Forum 2025’, today from 5.30 p.m. onwards at the Shangri-La Hotel, Colombo.

The I AM COYLE Leadership Forum is a celebration of resilience, creativity, and leadership. This year’s edition brings together a distinguished panel of speakers, each representing a unique facet of leadership and innovation. Their stories reflect the grit, purpose, and determination that define the modern Sri Lankan entrepreneur.

This year’s line-up includes Celeste Founder and CEO Janik Jayasuriya, whose session ‘Born in Crisis, Built for the Future’ will explore the art of thriving in uncertainty and transforming adversity into opportunity. Nihal Hettiarachchi and Co and RHN Ventures Chairman Managing Partner Dinuk Hettiarachchi will speak on ‘Balancing Legacy with a Vision for Tomorrow,’ delving into the delicate balance between heritage and innovation. Sirocco Group Managing Director Suren Chandraratna will share his inspiring journey in ‘Forged by Struggle, Defined by Purpose,’ a testament to perseverance and purposeful growth.

Renowned international cricketer, coach, and entrepreneur Jason Gillespie, will bring a global perspective with his keynote ‘A Builder of Teams and Business,’ highlighting the power of teamwork and leadership across disciplines.

This year’s forum will also explore the dual concepts of entrepreneurship and intrapreneurship, empowering both business owners and professionals to add value, drive innovation, and make meaningful change within their organisations. It aims to cultivate a mindset that celebrates leadership at every level of the workplace.

Experienced Chanaka Perera won the National Ranking Tournament (NRT), which took place at the Nuwara Eliya Golf Club (NEGC) from 6 to 9 November.

Over 30 golfers teed off, with half of them making the cut for the third and final day yesterday.

Chanaka Perera produced a fine final-round performance to clinch the championship with a total of 220 (80, 73, 67).

S. Dhuwarshan maintained fine form throughout the tournament, finishing runner-up on 222 (73, 75, 74), displaying both composure and precision over the demanding NEGC layout. Kumar Danushan, who led the initial days, had to settle to third place with 224 (73, 72, 79), continuing his steady rise among the country’s emerging talent.

The Ladies’ segment of the NRT saw R.M.A.C. Rathnayaka claim top honours, with a total of 275 (83, 99, 93) after three challenging rounds. Competing in demanding conditions, Rathnayaka displayed steady control and resilience to secure a well-deserved victory. Uluwaththa finished as the runner-up on 288 (88, 99, 101), maintaining her consistency across all three days.

Advantis Group, the transportation and logistics arm of Hayleys PLC, recently hosted the Advantis Awards 2025 to celebrate excellence, innovation, and leadership across its regional operations.

The Advantis Awards is the Group’s premier recognition platform, established to honour individuals and teams who exemplify the company’s spirit of excellence, innovation, and leadership across its operations.

Among the highlights of the evening were several outstanding achievements that reflected the depth of talent and creativity within the Advantis Group. The Service Triumph Award was presented to Advantis – 3PL, Team One Stop Solutions, for securing and operationalising a distribution centre contract with a global FMCG leader, demonstrating operational excellence and reinforcing Advantis’ position as a trusted 3PL partner.

The Innovation Breakthrough Winner title was awarded to Advantis – Shipping, for the successful conversion of the M.V. Melissa vessel from a heavy lift carrier to a feeder vessel serving the Colombo-Malé feeder line, enhancing efficiency, market resilience, and customer service standards.

Advantis Group Managing Director Ruwan Waidyaratne, commended the winners and teams across the region for their dedication, innovation, and leadership. ‘At Advantis, progress begins with people, those who challenge boundaries, act with integrity, and drive change for a better tomorrow. Every achievement we celebrate today reflects the shared purpose that unites us, creating sustainable value for our communities, customers, and each other,’ he said.

Sustainability and safety also took centre stage at this year’s ceremony. The Occupational Health and Safety (OHS) and Sustainability Steward Award was presented to Advantis -Shipping. Aligned with the Group’s ESG framework, HELIOS, the project focused on integrating solar energy technologies onboard a vessel in the Maldivian fleet, successfully reducing its carbon footprint and operational costs while earning international recognition from ClassNK in Japan.

Advantis Myanmar received the Team Excellence Award for their humanitarian logistics operations with World Central Kitchen following the Myanmar earthquake. Despite challenging conditions, the team achieved a 100% on-time success rate, demonstrating Advantis’ humanitarian values and operational precision.

The newly introduced Unsung Hero Award was presented to Raja Ranjan in recognition of an extraordinary life-saving act that embodied courage, compassion, and the true spirit of Advantis. This award recognises individuals who go beyond their regular duties, demonstrating exceptional values leading to a positive impact in their workplace. The Leadership Brilliance Award honoured two outstanding leaders: Imali Jayathilake, for her transformative HR leadership across eight countries, fostering diversity, equity, inclusion, talent development, and cultural evolution, and Prasad Katulanda, for his inspiring journey from Junior Executive to Director of the Inland Container Depot division, representing people-first leadership and operational excellence. Katulanda also received the Special Recognition – Going Beyond Award, a testament to his consistent drive to go above and beyond, inspiring teams, driving excellence, and living the Advantis DNA through every action and decision.

The Advantis Awards 2025 celebrated the people driving the company’s transformation and regional leadership in transportation and logistics. With participation from teams across South and Southeast Asia, the event reflected Advantis’ scale, diversity, and culture of collaboration and innovation. Beyond recognition, it reaffirmed the Group’s commitment to growth, sustainability, talent development, digital transformation, and ESG-led progress towards a smarter and more inclusive future.

Freight 360 Ltd., on 7 November 2025, marked seven years of growth, innovation, and excellence in the logistics and freight forwarding industry.

Since its establishment, Freight 360 has rapidly evolved into a recognised and reliable name in the logistics sector. Through a customer-focused approach, cutting-edge technology, and a dedicated team, the company has consistently delivered efficient and customised logistics solutions that meet the dynamic needs of its clients.

The anniversary celebration was a proud moment for the entire Freight 360 team, as it reflected on the company’s journey – from its humble beginnings to becoming a trusted service provider known for professionalism, reliability, and innovation.

Freight 360 Manager Dananjaya Rathnayake said: ‘Celebrating seven years is truly special for us. These years represent our passion, hard work, and the trust our customers and partners have placed in us. Our journey has been one of learning, growth, and teamwork – and we are excited to continue moving forward with the same spirit, always striving to exceed expectations.’

He further highlighted that Freight 360’s success is built on a foundation of collaboration, adaptability, and a commitment to continuous improvement – qualities that will guide the company as it looks ahead to future opportunities.

As Freight 360 marks this significant milestone, the management extended heartfelt appreciation to its valued clients, business partners, and dedicated employees for their continuous support and contribution to the company’s success.

With a clear vision for the future, Freight 360 said it remains committed to driving innovation and delivering logistics excellence for years to come.

Eagle Logistics has been recognised as the First Runner-Up in the Large-Scale Service Sector at the National Supply Chain Excellence Awards 2025, organised by the Institute of Supply and Materials Management (ISMM).

The National Supply Chain Excellence Awards is one of the most prestigious recognitions in Sri Lanka’s logistics and supply chain industry. It celebrates organisations that demonstrate outstanding performance, innovation, and excellence in supply chain management practices.

Competing among many reputed organisations from across the country, Eagle Logistics said its achievement stands as a testament to unwavering commitment to operational excellence and continuous improvement.

Over the years, Eagle Logistics has built a strong reputation for delivering comprehensive logistics solutions driven by innovation, reliability, and customer satisfaction. Their focus on efficiency, adaptability, and transparency has enabled them to provide seamless supply chain operations to clients across multiple industries.

‘This national recognition highlights the company’s strategic vision and the collective dedication of its team,’ Eagle Logistics said. It continuously invests in technology, people, and process development – the three core pillars that support their long-term success. From optimising internal workflows to enhancing visibility and control across the supply chain, the company strives to create smarter and more efficient solutions for its customers.

Eagle Logistics said this recognition marks another proud moment in its journey as a leading player in Sri Lanka’s logistics and supply chain industry. With this achievement, the company said it remains committed to driving innovation, delivering exceptional service, and setting new standards of excellence in the years ahead.

Novak Djokovic secured the 101st title of his career with victory at the Hellenic Championship – but then had to withdraw from the ATP Finals because of injury.

The Serb came through a gruelling encounter against Italy’s Lorenzo Musetti in Saturday’s final in Athens, fighting back from a set down to win 4-6 6-3 7-5.

But the 24-time Grand Slam champion’s victory came at a price, with Djokovic exacerbating an ‘ongoing’ shoulder injury that will keep him out of the ATP Finals in Turin, which begin on 9 November.

‘I was really looking forward to competing in Turin and giving my best but after today’s final in Athens, I’m sad to share that I need to withdraw due to an ongoing injury,’ Djokovic wrote on social media. ‘I’m truly sorry to the fans who were hoping to see me play – your support means so much. I wish all the players an amazing tournament, and I can’t wait to be back on the court with you all soon.’

Djokovic, 38, will be replaced in the finals by Musetti – who thought his chance of featuring in Turin had gone following his defeat.

Djokovic is one of just three men to have racked up a century of titles.

The Serb still needs two to equal Roger Federer’s 103, while Jimmy Connors heads the list with 109.

It looked unlikely he would add to his tally as 23-year-old Musetti’s tireless running and accurate serving helped him to the opening set. But after recovering to force a decider, Djokovic toughed out the victory, trading service breaks in the 10th and 11th games of the final set before closing it out with a love hold.

‘It was an incredible battle – I don’t know [how I won it],’ said the top seed who, at 38 years and five months, became the oldest tournament winner since Australia’s Ken Rosewall won in Hong Kong in 1977 aged 43. ‘Three hours. [It was] a gruelling match physically, super demanding. Lorenzo played really well. It could have been anybody’s match so congrats to him for an amazing performance and I just feel very proud of myself to get through this one.’

It was Djokovic’s second title of 2025, having won on the clay of Geneva in May, while Musetti continues his wait for a maiden title after losing in six finals over the past two seasons.

Musetti needed a victory to reach the ATP Finals, but Djokovic’s withdrawal means he will feature at the tournament regardless.

AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmhl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.

The transaction reflects an enterprise value of $ 65 million.

GK operates its own graphite mine at its headquarters in Kropfmhl, Germany, and holds a majority stake in a graphite mine in Sri Lanka. Asbury Carbons will assume all GK operations, including approximately 350 employees. For the 12 months ended August 2025, GK generated $ 65 million in revenue.

With this transaction, AMG completes its exit from the natural graphite business. Graphit Kropfmhl GmbH owned 86/46% stake in Bogala Graphite Lanka PLC. The share price of Bogala Graphite Lanka PLC yesterday closed at Rs. 137, up by 25% or Rs. 27.25.

AMG Critical Materials CEO and Chairman of the Management Board Dr. Heinz Schimmelbusch said: ‘The sale of GK highlights AMG’s commitment to proactive portfolio management. Natural graphite remains an attractive business, but we have not been able to establish GK as a leading supplier to the battery anode market. We are confident that GK will find greater opportunities as part of Asbury Carbons’ graphite portfolio. Meanwhile, AMG will use the proceeds from this transaction to strengthen its balance sheet and focus on its core growth businesses.’

This transaction follows AMG’s repurchase of the remaining 40% interest in GK from Alterna Capital Partners on 12 March 2025. The terms of that transaction remain unchanged: the purchase price may be settled by AMG in cash at the end of a three-year period or in AMG shares at any time within those three years, at AMG’s discretion.

Headquartered in Asbury, New Jersey, Asbury Carbons is a global leader in carbon-based solutions serving industrial markets, employing more than 300 people across 10 production facilities in North America and Europe.

Asbury Carbons CEO and Chairman of the Board Gregg Jones said: ‘This combination unites two market leaders in carbon solutions, together representing more than 250 years of history and expertise in the industry. We look forward to expanding our service, strengthening supply chain security and delivering new technologies and solutions to our customers worldwide.’

The transaction is subject to customary regulatory approvals, and AMG and Asbury Carbons expect the sale to close by year-end 2025.