Category: Daily Financial Times

In a professional career spanning over 34 years, Rasheed counts 29 years in the field of telecommunications, working for subsidiaries of multinational corporations like Millicom International Cellular SA of Luxemburg (Millicom), Emirates Telecommunication Group Company PJSC (Etisalat) and CK Hutchison Group (Hutchison).

Rasheed started his professional career at Ernst and Young.

He has served as the Acting CEO/Chief Financial Officer of Robi Axiata PLC, Bangladesh and Deputy CEO of Hutchison Telecommunications, Sri Lanka.

In prior engagements, Rasheed has also served Etisalat in Sri Lanka as its Deputy CEO and Chief Financial Officer.

He has also served as the Chief Financial Officer of Celltel Lanka Ltd. and Tigo Lanka Ltd., in Sri Lanka.

Rasheed has also worked in the Sri Lankan conglomerate, Hayleys Group of Companies with Dipped Products PLC, for over three years prior to venturing into mobile telecommunications.

He holds a MBA from the Postgraduate Institute of Management of the University of Sri Jayewardenepura, Sri Lanka (PIM), and a Bachelor’s Degree in Pure Sciences (BSc).

Rasheed is a Fellow Member of the Chartered Institute Management Accountants of UK (FCMA UK) a Chartered Global Management Accountant (CGMA), and a Fellow Member of the Institute of Chartered Management Accounts of Sri Lanka (FCMA SL).

The ICC Women’s Cricket World Cup 2025 turned out to be a run fest like no other.

Co-hosted by India and Sri Lanka, the tournament saw boundaries flow freely, sixes sail deep into the stands and records that once stood tall being casually rewritten. It was a World Cup where batters reigned supreme as run rates soared to new highs and chases once thought impossible became a routine.

In a different twist for the first time, neither England nor Australia featured in the final, paving the way for a new champion to emerge. That honour went to India, who secured a memorable win over South Africa to lift the title.

But it wasn’t just the final, every match had its share of drama and underlined how far the women’s game has come in terms of skill, intensity and entertainment. Together, it shaped a World Cup that will be remembered as one of the most thrilling editions ever played.

As the dust settles on the tournament, it’s time to revisit the remarkable batting records that were rewritten over the past few weeks.

Most individual centuries

Across 31 matches, there were 15 individual centuries recorded, surpassing the 14 scored in 2017.

South Africa captain Laura Wolvaardt stood out with two centuries, both in the knockout matches. Her 169 against England in the semi-final was the highest score of the tournament, bettering Alyssa Healy’s 142 against India.

She then followed it up with a 101 in the final against India, giving her side a real shot at the title. Wolvaardt also became only the second batter to score a hundred in both the semi-final and final of a World Cup after Healy achieved the feat in 2022.

Australia’s Healy and Ash Gardner also recorded two centuries each alongside Wolvaardt, showcasing the batting firepower that defined this World Cup.

Most 300-plus totals

The tournament saw eight 300-plus totals, the most in any edition and double the number from 2022.

India featured in three of those matches, with all three ranking among the top three highest aggregate games of the tournament. This edition on the marquee tournament also produced the two highest run chases in women’s cricket history, both involving India and Australia.

In the league stage, Australia pulled off a record-breaking chase of 330, winning by three wickets with six balls to spare. That effort smashed the previous world record chase of 302 by Sri Lanka against South Africa in 2024 and the earlier Women’s World Cup record of 278 by Australia against India in 2022.

But India bettered that in the semi-final, as they chased down Australia’s 338, posting 341/5 to seal victory with nine balls remaining, a new high for women’s ODIs and one of India’s most iconic wins.

Record sixes

Fearless batting throughout the tournament led to a record 133 sixes, 22 more than the previous best from 2017.

Richa Ghosh struck a joint-record of 12 sixes in the tournament, hitting four of them in the knockouts, two each in the semi-final and final respectively. Nadine de Klerk followed with 10 sixes, the only other player to reach double digits.

India and South Africa led the power-hitting charts with 35 sixes each while Australia’s 24 took the combined tally of the three teams close to a hundred.

Highest aggregate score

India’s semi-final win over Australia produced 679 runs in total, the highest aggregate in Women’s ODI World Cup history, surpassing the 678 between England and South Africa in 2017.

The total of 679 was also the second-highest aggregate in any women’s ODI, behind the 781 runs scored in Delhi earlier this year, another India-Australia classic where Australia posted 412 and bowled India out for 369.

The semi-final aggregate score narrowly bettered the league stage total of 661 between the same sides when Australia chased down 330.

India were also part of another high aggregate game, with 611 runs scored in their league-stage match against New Zealand. India posted 340/3, their highest first-innings total of the tournament, eventually prevailing in a must-win game against New Zealand which they won by 53 runs (DLS) to reach the semi-finals.

Most centuries by a team

Australia batters piled up six centuries, the most by any team in a single edition with Healy and Gardner scoring two each. Gardner’s century against England was also the fastest in the tournament, where she scored an unbeaten 104 off 73 balls.

For the former World Cup champions, Beth Mooney and Phoebe Litchfield added to Healy and Gardner’s tally, making it six in total.

Players from five teams registered hundreds including the four semi-finalists and New Zealand, thanks to Sophie Devine’s effort.

South Africa and India hit three centuries each while England managed two.

Most runs by a batter

Laura Wolvaardt’s consistency was second to none. She topped the charts with 571 runs, the most by a batter in a single edition, also earning her the No 1 spot in the ICC Women’s ODI batter rankings.

Her tally included a tournament high of 73 fours and two centuries. She also scored three fifties in the group stage, the joint-highest in the campaign along with India’s Deepti Sharma who won the Player of the Tournament.

Wolvaardt then went on to amass a record 336 runs in World Cup knockouts, proving her ability to step up when it mattered most.

Panasonic Ecology Systems Co., Ltd., the global leader in indoor air quality (IAQ) solutions, has successfully obtained an Enjoining Order from the Commercial High Court of Colombo against a suspected entity engaged in the counterfeit sale of its ‘KDK’ branded products.

The company, being the Plaintiff and represented by its Attorneys-at-Law, Sudath Perera Associates, instituted civil proceedings against Zam Zam Electricals and Home Needs of Kurunegala under the Intellectual Property Act No. 36 of 2003, alleging that the Defendant had been engaged in the sale of counterfeit ceiling fans unlawfully bearing Panasonic’s registered trademarks, including the well-known ‘KDK’ name and logo.

In its pleadings, Panasonic Ecology Systems Co., Ltd. asserted that Zam Zam Electricals, a prominent retailer in the electrical appliances market, was aware or ought to have been aware that the products in question were not genuine KDK trademark goods. The Plaintiff further contended that the unauthorised use of marks identical or deceptively similar to its trademarks was calculated to mislead consumers and unfairly capitalise on the goodwill associated with Panasonic’s globally recognised KDK brand.

The Plaintiff emphasised that authentic KDK products are characterised by their superior quality and manufacturing excellence, in stark contrast to the inferior counterfeit goods being circulated. Such deceptive practices, it argued, cause significant and irreparable harm to the brand’s reputation, consumer trust, and overall goodwill.

After considering the submissions and legal arguments presented, Judge of the High Court of the Western Province (Holden in Colombo) Amali Ranaweera, granted an Enjoining Order restraining the Defendant, along with its agents, representatives, and employees, from producing, importing, marketing, selling, or otherwise dealing in any goods bearing names, marks, or logos identical or confusingly similar to Panasonic’s registered trademarks.

Panasonic Ecology Systems Co., Ltd. was represented in court by Gimhani Hettiarachchi and Manoj Bandara, Attorneys-at-Law, acting on the instructions of Sudath Perera Associates.

Sri Lanka is set to finalise its long-awaited Public-Private Partnership (PPP) Act by early next year, as authorities race to create a coherent legal and institutional framework to attract private investment into public infrastructure, whilst addressing overlaps among multiple government entities currently handling procurement and PPP oversight.

National Agency for Public-Private Partnership (NAPPP) CEO Dr. Sulakshana Jayawardena said the final draft of the PPP Act is now with the Attorney General’s Department for final review, following extensive consultations with stakeholders. ‘Our expectation is to get the Cabinet of Ministers’ approval within this month and publish the gazette to submit to Parliament for approval by the second week of next month,’ he said, adding that the Government aims to enact the law by January 2026.

Speaking at a high-level forum in Colombo titled ‘PPP: Partnership and Prosperity for People’ organised by the High Commission of India, in collaboration with the Ceylon Chamber of Commerce (CCC), he noted that the new framework will also introduce comprehensive PPP procurement guidelines developed jointly with the National Procurement Commission (NPC) and supported by expert consultants drafting related regulations.

In parallel, he said the authorities are working on a Screening and Scoring Tool to evaluate PPP projects, which is expected to be ready by the end of the first quarter of next year.

‘We’re not waiting until all these documents are ready. Work with line agencies is ongoing so that projects can move forward in tandem,’ Dr. Jayawardena explained, emphasising the need to ensure readiness before partner selection to avoid implementation delays.

As part of the Government’s wider effort to improve investor confidence, he revealed that a new Investment Protection Act is also being drafted. ‘The concept paper has already been prepared and will be submitted to the Cabinet for approval shortly. We aim to have the Act in place within the first quarter of next year, as announced in Budget 2025,’ he said.

However, experts have warned that institutional fragmentation and overlapping legal mandates could undermine the effectiveness of these reforms if not addressed urgently.

National Procurement Commission (NPC) Member Dr. Asanga Gunawansa who was also present at the forum cautioned that the Government must ‘put its house in order’ before implementing multiple frameworks that may confuse both local and foreign investors (https://www.ft.lk/front-page/Top-expert-flags-overlapping-mandates-legal-confusion-in-Sri-Lanka-s-PPP-framework/44-783977).

The Free Trade Zone Manufacturers’ Association (FTZMA) has written to Ports and Civil Aviation Minister Anura Karunathilaka expressing serious concern over the frequent omission of vessels at the Port of Colombo, warning of mounting disruptions to the export sector.

In the letter, the FTZMA said exporters are facing shortages of raw materials, production delays, and missed export deadlines due to the omission of Colombo from major shipping routes in recent months.

The association noted that key industries such as garments, rubber, and electronics, which depend on ‘just-in-time’ logistics, have been severely affected.

FTZMA said the disruptions have undermined Sri Lanka’s reliability as a regional shipping hub and discouraged international buyers from sourcing through the country.

It urged the Minister to engage urgently with the Sri Lanka Ports Authority (SLPA) and shipping lines to improve yard efficiency, expedite inter-terminal transfers, enhance road connectivity, and accelerate the commissioning of new terminals such as the East Container Terminal (ECT) and West Container Terminal (WCT).

The association also called for regular consultations with major shipping lines and clear communication to the trade community on measures to mitigate the ongoing disruptions.

The letter in full is as follows:

We are writing to express our deep concern regarding the increasing instances of vessel omissions at the Port of Colombo, which have recently had a significant impact on the operations of our exporters and the broader shipping and logistics community in the country.

As a result, our exporters face a lack of vital raw materials, leading to production bottlenecks and the inability to meet crucial deadlines for export orders. Industries such as garments, rubber, and electronics, which rely on tight delivery schedules and ‘just-in-time’ logistics, have been particularly hard hit by these disruptions.

Over the past few months, we have observed several mainline operators omitting Colombo from their scheduled rotations, resulting in delays, transshipment issues, and additional costs for exporters and importers alike.

These disruptions not only affect the reliability of Sri Lanka’s hub status but also discourage international buyers from sourcing through Sri Lanka.

We understand that global shipping schedules are subject to operational and congestion-related challenges.

However, the frequency of these omissions indicates the need for an urgent engagement between your Ministry, the Sri Lanka Ports Authority (SLPA), and shipping lines to ensure Colombo’s competitiveness and reliability are maintained thereby.

We therefore respectfully urge your intervention to: take measures to reduce yard congestion by improving the efficiency and effectiveness of Inter-terminal transfers(ITT) to expedite container clearance; improve road connectivity between terminals and main access of the port; bring new terminals (ECT and WCT) online, which are seen as essential for a long-term resolution; initiate regular discussions with major shipping lines to minimise omissions; and communicate a clear plan to the trade community on steps being taken to mitigate these disruptions.

We once again like to stress the urgency for operational upgrades and the implementation of a secure and more efficient ITT system to resolve these issues and mitigate the ongoing risks to the export sector.

The FTZMA letter to the Ports and Civil Aviation Minister was signed by Chairman Dhammika Fernando and Secretary M.H.Z.M. Marzook.

Every delay at the Port of Colombo now comes at a heavy price. For Sri Lanka’s apparel industry, time is not just money it’s trust. The recent reports of ships failing to call at Colombo because of potential delays in the Port of Colombo, are a major concern for exporters who depend on reliability to stay competitive in global markets.

Over the past few months, several shipping lines have started bypassing Colombo, sometimes just a day or two before arrival. Typically, these are vessels from the Far East containing raw materials required by the industry. When this happens, containers carrying fabric, zippers, buttons, or trims are either unloaded at another port or arrive days later. For manufacturers working on tight schedules, even a small delay can cause missed production deadlines, late deliveries, or the need to airfreight finished goods at much higher cost to meet deadlines agreed with customers

Colombo has long been the heart of Sri Lanka’s export logistics. But that reputation is now under strain. While vessels bypassing the port is the visible problem, the real issue lies in how the port operates. Delays in moving containers between terminals, outdated manual systems, and slow coordination between port agencies have all combined to create a serious bottleneck.

This affects every part of the supply chain. When shipments of raw materials are delayed, exporters face downtime on the production floor, contract penalties, and frustrated buyers. For small and medium apparel exporters, who run on tight margins, even one missed shipment can wipe out weeks of earnings as they are called on to airfreight goods to meet contracted dates of delivery.

While Sri Lanka struggles with inefficiency, our regional competitors are moving ahead. India’s new Vizhinjam Port and others in Singapore and Dubai now offer seamless digital coordination, faster vessel turnaround, and fully automated systems. As a result, some of the transshipment traffic that once came through Colombo is now being diverted.

Sri Lanka still handles a large volume of regional cargo-around 7.7 million containers this year but slow processes and red tape are making the system less attractive. Even today, exporters face extra costs and delays because authorities insist on re-testing imported raw materials locally instead of accepting international certifications.

Reform over expansion

Expanding port berthing capacity alone will not solve the issue. Inter Terminal Transfer (ITT) and yard capacity issues need to be addressed. What Sri Lanka truly needs is a port system that is smarter, faster, and more transparent. JAAF calls on the Government and the Sri Lanka Ports Authority to focus on operational reform streamlining digital pre-clearance, improving cargo tracking, and ensuring seamless coordination between terminals. The Port of Colombo needs to be the port of choice of vessel operators. Only through these practical, efficiency-driven reforms can Colombo regain its standing as a dependable regional trade hub.

Protecting our reputation

Sri Lanka’s apparel industry has built a global reputation for quality, reliability, and ethical manufacturing. But that reputation depends on our ability to deliver on time. If shipping lines continue to lose confidence in Colombo’s efficiency, the consequences will go far beyond the apparel sector.

JAAF stands ready to work with the Government, port operators, and other stakeholders to find solutions. With the right reforms, Colombo can regain its standing as South Asia’s preferred logistics hub. But time is running out and for an export-driven nation like ours, every delay at the port is a delay in progress.

Hunters and Company PLC has appointed Lalith Withana to its Board as a Non-Executive Independent Director.

Withana brings over 30 years of experience spanning both corporate and public sectors, including more than 25 years in senior management positions across banking, manufacturing, and trading.

Throughout his career, he has worked with leading organisations such as Brandix Group, Ernst and Young, Amsterdam Rotterdam (Amro) Bank, IBM World Trade Corporation, Carson Cumberbatch, Ceylon Tea Services Limited, and Yamaha Corporation (USA).

He previously served as Group Chief Financial and Administrative Officer at SriLankan Airlines and later as Chief Executive Officer of its subsidiary, SriLankan Catering. Currently, he is a Management Consultant at Deloitte Consulting Overseas Project LLC and serves as Vice President of the Project Management Institute (PMI), USA’s local chapter.

Withana is also the Founder and Managing Director of Agility Consulting Services Ltd. and serves on the Boards of several leading companies, including Softlogic Life Insurance PLC, HNB Finance, Serendipity Leisure Ltd., Commercial Development Company PLC, Citrus Leisure PLC, Hikkaduwa Beach Resort PLC, and Waskaduwa Beach Resort PLC.

His previous board roles include Independent Director positions at Bank of Ceylon, Dankotuwa Porcelain PLC, Merchant Bank of Sri Lanka PLC, Ceylease Ltd., and Seylan Bank PLC. He has also served as Commissioner at the Telecommunications Regulatory Commission.

Withana holds a Master of Business Administration from the University of Sri Jayewardenepura and a Bachelor of Arts with Honours from Manchester Metropolitan University, UK.

He is a Fellow of both the Chartered Institute of Management Accountants (FCMA), UK, and the Institute of Chartered Accountants of Sri Lanka (FCA), and is a certified Project Management Professional (PMP) of the Project Management Institute (PMI), USA.

Sustainability has long been at the heart of Hirdaramani’s business philosophy. Guided by its Future First Sustainability Roadmap, the Group has transformed responsible manufacturing into a defining culture that connects its people, operations and communities across borders.

Built on four pillars; Conserve the Environment, Empower our Associates, Support our Communities and Trust in Good Choices the Future First strategy provides a measurable framework that drives the company’s vision of aligning business success with environmental and social responsibility.

This commitment was recognised at the 2025 Presidential Environment Awards, Sri Lanka’s highest recognition for environmental excellence, where four of Hirdaramani’s facilities in Sri Lanka were honoured, celebrating its purpose-led progress.

A Legacy of Integrity and Innovation

With a legacy of more than 100 years, Hirdaramani has grown into a global Group operating across Apparel, Renewable Energy, Leisure, Retail, Services and Capital. Its growth has been built on integrity, trust and good governance values that continue to shape every aspect of the business.

The company’s corporate purpose, ‘To weave our world closer together through the power of Continuous Progression,’ captures this legacy of renewal and forward momentum. It is this philosophy that has guided Hirdaramani’s sustainability journey and earned it national recognition at the 2025 Presidential Environment Awards.

Hirdaramani Kahathuduwa received the Gold Award, Hirdaramani Ja-Ela (Washing) the Silver Award, Hirdaramani Kuruwita the Bronze Award and Hirdaramani Seethawaka the Merit Award, across both the Apparel Industries and Textile Processing Industries categories.

Each facility represents its unique story of innovation and impact. Hirdaramani Kahathuduwa, a LEED Platinum-certified plant powered by 100% renewable energy through solar and biomass, integrates recycled and condensed-water recovery systems and biodiversity enhancement projects under an ISO 14001 framework. The Hirdaramani Ja-Ela Washing facility, a ZDHC Supplier-to-Zero operation, champions sustainable chemical management and has initiated Diya Arana, a wetland restoration project designed to restore natural water flow and strengthen local ecosystems. Hirdaramani Kuruwita, also LEED Platinum-certified, combines renewable energy and advanced water-recycling systems with strong community engagement, while Hirdaramani Seethawaka demonstrates the power of consistency through renewable energy use, rainwater harvesting and internal green spaces that enhance workplace well-being.

Together, these operations drive how innovation, integrity and collaboration can redefine what responsible manufacturing means in today’s world.

Future First – Driving Sustainable Transformation

Hirdaramani’s Future First Sustainability Roadmap continues to drive the Group’s sustainability agenda, setting ambitious goals across environmental, social and governance priorities. From renewable-energy expansion and water circularity to biodiversity restoration and social inclusion, every initiative reflects a commitment to measurable, long-term impact.

The company’s alignment with the Science Based Targets initiative (SBTi) including the first Net-Zero target approval achieved by a Sri Lankan organization in 2024, demonstrated its leadership in climate action and its dedication to meeting global sustainability standards.

By integrating these principles into daily operations, Hirdaramani has created a business model where progress and responsibility advance together, ensuring that sustainability remains a strategic advantage.

A Shared Commitment to Progress

Behind every achievement lies the collective effort of more than 55,000+ employees across Hirdaramani’s global footprint. Their shared purpose continues to transform the company’s sustainability vision into tangible outcomes.

The recognition at the Presidential Environment Awards is both a celebration of operational excellence and a reflection of a deeply rooted culture, one that places people, the planet and integrity at the centre of every decision.

As Hirdaramani looks to the future, it remains committed to its mission of creating lasting value through innovation, partnership and purpose reinforcing that doing what is right for the planet, will always be the right way to do business.

The Free Trade Zone Manufacturers’ Association (FTZMA) has written to Ports and Civil Aviation Minister Anura Karunathilaka expressing serious concern over the frequent omission of vessels at the Port of Colombo, warning of mounting disruptions to the export sector.

In the letter, the FTZMA said exporters are facing shortages of raw materials, production delays, and missed export deadlines due to the omission of Colombo from major shipping routes in recent months.

The association noted that key industries such as garments, rubber, and electronics, which depend on ‘just-in-time’ logistics, have been severely affected.

FTZMA said the disruptions have undermined Sri Lanka’s reliability as a regional shipping hub and discouraged international buyers from sourcing through the country.

It urged the Minister to engage urgently with the Sri Lanka Ports Authority (SLPA) and shipping lines to improve yard efficiency, expedite inter-terminal transfers, enhance road connectivity, and accelerate the commissioning of new terminals such as the East Container Terminal (ECT) and West Container Terminal (WCT).

The association also called for regular consultations with major shipping lines and clear communication to the trade community on measures to mitigate the ongoing disruptions.

The letter in full is as follows:

We are writing to express our deep concern regarding the increasing instances of vessel omissions at the Port of Colombo, which have recently had a significant impact on the operations of our exporters and the broader shipping and logistics community in the country.

As a result, our exporters face a lack of vital raw materials, leading to production bottlenecks and the inability to meet crucial deadlines for export orders. Industries such as garments, rubber, and electronics, which rely on tight delivery schedules and ‘just-in-time’ logistics, have been particularly hard hit by these disruptions.

Over the past few months, we have observed several mainline operators omitting Colombo from their scheduled rotations, resulting in delays, transshipment issues, and additional costs for exporters and importers alike.

These disruptions not only affect the reliability of Sri Lanka’s hub status but also discourage international buyers from sourcing through Sri Lanka.

We understand that global shipping schedules are subject to operational and congestion-related challenges.

However, the frequency of these omissions indicates the need for an urgent engagement between your Ministry, the Sri Lanka Ports Authority (SLPA), and shipping lines to ensure Colombo’s competitiveness and reliability are maintained thereby.

We therefore respectfully urge your intervention to: take measures to reduce yard congestion by improving the efficiency and effectiveness of Inter-terminal transfers(ITT) to expedite container clearance; improve road connectivity between terminals and main access of the port; bring new terminals (ECT and WCT) online, which are seen as essential for a long-term resolution; initiate regular discussions with major shipping lines to minimise omissions; and communicate a clear plan to the trade community on steps being taken to mitigate these disruptions.

We once again like to stress the urgency for operational upgrades and the implementation of a secure and more efficient ITT system to resolve these issues and mitigate the ongoing risks to the export sector.

The FTZMA letter to the Ports and Civil Aviation Minister was signed by Chairman Dhammika Fernando and Secretary M.H.Z.M. Marzook.

The spirit of Christmas swept across Sri Lanka as Amaya Resorts and Spas, one of the island’s most preferred hospitality brands, hosted its annual cake mixing ceremonies.

At Amaya Hills, snuggled high above Kandy’s mountain ranges, the festive season began with joy and laughter as guests and team members joined hands in a spirited celebration. The mountain air was filled with the fragrance of rich spices and candied fruit as the mixing began, accompanied by the soft hum of carols and the unmistakable charm of a Christmas in the hills.

By the eastern coast, Amaya Beach, Pasikudah, brought the festivities to life by the sea. The resort’s lawns were transformed into a vibrant celebration space where guests gathered for an afternoon of merriment. The occasion captured the resort’s signature blend of tropical elegance and seaside warmth, setting the tone for a joyful Christmas by the beach.

The highlight of this year’s celebrations took place at Amaya Lake, Dambulla, where the resort made history as the first hotel in Sri Lanka to host a cake mixing ceremony on a lake. Guests and team members gathered on canoes floating gracefully across the tranquil waters of Kandalama Lake, surrounded by rippling reflections and the breathtaking scenery of Sri Lanka’s Cultural Triangle. Clad in traditional Sri Lankan attire, participants joined in this remarkable celebration that seamlessly blended heritage, creativity and festive spirit.

Across every property, the celebrations reflected Amaya’s enduring commitment to creating heartfelt experiences that bring people together. Guests, staff and the extended Amaya family shared moments of joy and anticipation as they marked the beginning of the Christmas season with the warmth and spirit of Amaya Resorts and Spas.