Category: Daily Financial Times

A famous quote in cricketing parlance is ‘catches win matches.’ But that was not to be the case for Sri Lanka in their opening ICC Women’s Cricket World Cup match against India at Guwahati on Tuesday.

Sri Lanka had India fighting with their backs to the wall at 124-6 after 27 overs, but a spate of dropped catches let the host off the hook and they recovered to post a challenging score of 269-8, to which Sri Lanka could match up with only 211 to lose under the DLS method by 59 runs.

World Cup debutant Amanjot Kaur was given three lives at 18, 37, and 50, and she made Sri Lanka pay for it dearly by scoring a half century (57 off 56 balls) and featuring in a match defining stand of 103 with Deepti Sharma, who also scored a fifty and took three wickets for 54 runs, including the prize wicket of Chamari Athapaththu for 43.

Athapaththu was left to rue her side’s three dropped catches of Amanjot, but she remained confident that her team will bounce back.

‘We executed our plans but we dropped a couple of catches, especially [Amanjot] Kaur’s catch. We made three mistakes and it cost us,’ said Athapaththu after the match.

‘As a batting unit, we lost a couple of wickets early and in the middle overs, and that is where we lost this game. After losing my wicket, our batters struggled a little bit. Chasing is not easy, but we need to execute our right plans at the right time. If we keep losing wickets, it is not easy to chase,’ she added.

Athapaththu praised the bowling of Inoka Ranaweera (4/46), whom she said bowled really well, and Udeshika Prabodhani (2/55) because of her experience. The rest struggled a little bit.

Ranaweera, in particular, caused some sort of panic in the Indian dressing room when she dismissed the heart of their batting – Harleen Deol, Jemimah Rodrigues, and skipper Harmanpreet Kaur – in one over as they slid from 120-2 to 124-6.

‘I had good support from the wicket-keeper, Captain, and the bowling unit in taking those wickets,’ said Ranaweera.

On Sharma’s knock and their fielding, Ranaweera said: ‘We knew her [Deepthi’s] strength and we planned how to bowl to her, but in the execution, some changes took place and she was able to come on top today. We did well in our fielding, but in some areas, we made mistakes. I don’t think that was the turning point, but if we had done what we were expected to do, that would have given us the opportunity to win.’

Sri Lanka’s next opponents will be defending champions Australia at home. Ranaweera said: ‘A lot of positives came out of the match for us both in the batting and bowling to move forward. We have to take the positives to our next game against Australia. To win, you need only moment in the game. We will go with the determination of winning it.’

Athapaththu said: ‘We have to think about our performance today. We have to talk [with the coaches] and maybe reset our plans. We are calm, and I still have faith in my youngsters because they have won more games for us. I know the mistakes we made. If we can reset these plans, I know we can bounce back.’

‘[Our partnership] was a turning point,’ said Player of the Match Sharma. ‘Back-to-back wickets were falling so we wanted to have a long partnership. The things that we had planned, we executed it. There was no pressure at all because I am used to these types of innings and situations. I have played it in the past, and that partnership with Amanjot was important. I do not feel pressure, I enjoy my batting.’

Sri Lanka and India travelled back to Colombo where they have matches at the R. Premadasa Cricket Stadium. On Saturday, Sri Lanka meets Australia and on Sunday, it will be the big clash between India and Pakistan.

The Colombo Stock Exchange (CSE) announces the 7th edition of the CSE Masterminds Quiz on 17 October 2025 from 3:00 p.m. onwards at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, the event will bring together teams from the public and private sector to compete for glory in six subject areas, in international business, global markets, Sri Lankan economy and business, local capital market, sports and entertainment, and current affairs.

This year’s competition will offer prizes worth over Rs. 3.5 million. The champion team will walk away with Rs. 1,000,000, while the second and third-placed teams will receive Rs. 500,000 and Rs. 375,000, respectively.

In addition, the winning teams of the first three places will have the opportunity to double their prize money, provided that all team members hold CDS accounts with at least one transaction completed during 2025. Sector prizes will also be awarded to the best-performing teams representing each sector.

Sponsorship Partners are: Platinum Sponsors: SC Securities Ltd., and Almas Equities Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Bartleet Religare Securities Ltd., NDB Capital Holdings Ltd. and TWC Capital Ltd. Silver Sponsors: Asha Securities Ltd., Lanka Securities Ltd., Softlogic Stockbrokers Ltd., Nestor Stock Brokers Ltd., and LOLC Holdings PLC.

Shangri-La Colombo will serve as the Official Hospitality Partner, FitsAir Ltd., as the Official Airline Partner, and Co-sponsors including Sarvodaya Development Finance PLC, CT Smith Holdings Ltd., People’s Leasing and Finance PLC, Alliance Finance Company PLC, Capital Trust Holdings Ltd., Barista Coffee Lanka Ltd., Crypto Gen Ltd., Hemas Holding PLC and Teejay Lanka PLC.

The event’s print media partners include Daily FT, Daily Mirror and the Sunday Times.

The goodie bag provided to all participants are sponsored by Flora Food Group, Stripe and Checks Inc., Serendib Flour Mills Ltd., and Design Square Ltd.

The sector winners’ prizes will be sponsored by HNB Investment Bank Ltd., and the audience question section will be sponsored by the Association of Chartered Certified Accountants (ACCA).

Beyond the competition, CSE Masterminds 2025 promises an engaging evening for participants and guests, with an after-party featuring live music, unlimited food, and beverages creating an ideal space to network, celebrate, and unwind.

For further information and team registrations, please contact Charundika – 077 7280 028, Shanika – 076 305 6691 or Dinusha – 076 431 6907.

Hutch Sri Lanka recently won six awards at SLIM Digis 2.5, making it one of the most awarded brands at this year’s digital excellence forum.

This achievement is especially meaningful as Hutch stood out as the only telecom operator to receive an accolade.

Organised by the Sri Lanka Institute of Marketing (SLIM), SLIM Digis is the country’s most renowned platform for recognising innovation and digital excellence. Hutch’s recognition reflects its ability to combine creativity with measurable results, staying deeply connected to the everyday needs of its customers while setting high benchmarks in the industry. Evidently, Hutch is staying ahead in the evolving digital landscape, guided by data-driven decision-making and fuelled by novel creativity. The honours reaffirm that those approaches are not just relevant but impactful.

In the category of Best Use of Digital in the Telecommunication Sector, Hutch won for its ‘There’s Always an Option’ campaign, which has come to define its renewed brand journey. Hutch was also awarded for the pioneering 2X product, which combines home broadband and mobile data into a single plan, and for ‘Ratatama Hutch ,’ an agile campaign during the election period that connected with the audience through culturally relevant storytelling. Under Best Performance Marketing, Hutch was recognised for its eSIM services, which redefine connectivity without physical SIMs, and for its Roaming campaign, which was praised for improving overseas connectivity via data-driven optimisation.

Hutch Sri Lanka Chief Marketing Officer Hamdhy Hassen said: ‘These awards reflect the commitment of our teams to make great work that resonate with Sri Lankan audiences in the digital age. We are humbled to be amongst the most awarded brands and the only telecom to be recognised this year. We believe this recognition is truly deserved as it mirrors the efforts we have made to deliver real value, innovation, and growth to our customers and the industry.’

This year’s edition, SLIM Digis 2.5, was the most competitive yet, with over 450 entries submitted. The judging process was led by a distinguished panel of more than 50 experts including leading brand custodians, digital strategists, and representatives from global digital platforms ensuring every recognition reflected the highest standards of creativity, effectiveness, and innovation in digital marketing.

Against this backdrop of fierce competition and rigorous evaluation, Digibrush’s performance stood out, clinching the coveted Grand Prix for the third consecutive year along with 23 other awards across categories. With this milestone, the agency cemented its position as the only one in SLIM Digis history to achieve a tally of four Grand Prix wins.

This year, Digibrush’s award haul comprised the Grand Prix, three Golds, and five Silvers: part of 23 awards won across a wide range of categories. Highlights included standout wins for Emerald, HUTCH, Zesta, Keells,Harris By Jat and Milady reflecting strength in best use of Agile Moment Marketing, Small Budget, Performance Marketing, E-commerce, Social Platform Integration, Digital Bravery, Cross-Media Integration, and more: showcasing the agency’s ability to deliver impact across diverse industries and categories.

A defining feature of Digibrush’s journey at SLIM Digis has been its consistent strength in Performance Marketing. This year alone, four different brands from four industries were awarded in the category, maintaining a streak of recognition for Digibrush since the category’s inception. This consistency underscores the agency’s reputation for driving measurable outcomes through data-driven creativity.

Digibrush Co-Founder Hisham Zulfiqar said: ‘To win the Grand Prix three years in a row and to be the only agency to claim four in total, is a testament to the culture we’ve built at Digibrush. We believe in empowering our teams, challenging ourselves to think beyond the obvious, and focusing on work that doesn’t just win awards but drives real impact for brands and consumers alike. None of this would be possible without our amazing clients, who are brave enough to push boundaries with us and work in true collaboration to make bold ideas a reality.’

Design Innovation Co-Founder and Head Fazaal Naufer added: ‘Awards come and go, but what stays with us is the drive to keep creating work that matters. These wins remind us how far we’ve come, and how much further we can go when we stay curious, humble, and committed to experimenting and shaping what’s next in digital.’ From its humble beginnings to becoming one of Sri Lanka’s most awarded agencies, Digibrush continues to expand its footprint both locally and internationally. With a client portfolio spanning telecom, apparel, FMCG, finance, real estate, and more, the agency has proven its ability to create meaningful digital impact across industries. On the global stage, Digibrush partners with multinational giants such as General Mills, working with iconic brands including Häagen-Dazs, Nature Valley, and Old El Paso, further reinforcing its reputation as a trusted partner beyond Sri Lanka.

Two exceptional women from the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) have won top honours at the prestigious SAFA Women Leadership Awards, a regional platform that celebrates excellence, leadership, and impact among women in the accounting profession across South Asia.

CA Sri Lanka member, Pyumi Sumanasekara, was honoured with the ‘ESG Visionary Woman Award’ while CA Student Dinali Jayasinghe won the ‘Rising Woman Student Award – CA’ at a grand event held at Cinnamon Life.

Out of seven competitive categories open to SAFA member countries, including India, Pakistan, Bangladesh, Nepal, the Maldives, and Sri Lanka, Sumanasekara, and Jayasinghe emerged victorious, showcasing the remarkable talent and leadership nurtured within CA Sri Lanka fraternity.

Sumanasekara, currently serves as a Partner – Climate Change and Sustainability Services at KPMG, and brings over 18 years of experience in audit, assurance, and advisory, including more than 16 years focused on ESG and climate change. Her global expertise spans London, the Middle East, and Asia. Her leadership in ESG strategy, governance, and reporting has established her as a visionary in driving sustainable transformation across industries. She has a Master’s Degree in Financial Economics.

Jayasinghe, is currently an Assistant Manager in Audit and Assurance at Deloitte Sri Lanka. She ranked first in the CA Sri Lanka Business Level Examination in June 2021. She also holds a first-class degree in Accounting from the University of Sri Jayewardenepura.

The SAFA Women Leadership Awards serve as a beacon of inspiration for future generations of accounting professionals, with the awards underscoring the importance of empowering women to lead with purpose, drive innovation, and make meaningful contributions to society and the profession.

The weekly Treasury Bill auction conducted yesterday saw the entire Rs. 43.00 billion total offered amount fully subscribed. This marked the first instance in six weeks that a T-Bill auction raised the entire targeted offered amount. The bids received to offered amount ratio stood at 1.88 times.

The weighted average rates held broadly steady, with the exception of the 91-day maturity which registered a 4-basis point decline to 7.53%. The 182-day and 364-day tenors remained unchanged at 7.89% and 8.02% respectively. This marks the 11th week where T-Bill rates have stayed virtually tethered around prevailing levels.

The Phase II of subscription on for 91- and 364-day tenors is now open until 3 p.m. of business day prior to settlement date (i.e., 02.10.2025) at the WAYRs determined for the said ISINs at the auction. See details of the auction (Phase 1).

The secondary Bond market yesterday experienced a further uptick in yields, influenced by external developments such as news of the US Government shutdown.

In addition, news that the Asian Development Bank had revised Sri Lanka’s GDP growth forecast for 2026 down slightly to 3.3%, amid the imposition of US tariffs also weighed down on market sentiments.

However, robust renewed buying interest emerged at the higher levels curtailing further upwards movement.

Despite this secondary market two-way quotes closed the day higher. Market activity and transaction volumes were seen at healthy levels earlier in the day but tapered off during the latter trading hours as market participants switched back into a wait-and-see stance.

The 01.02.26, 01.06.26 and 01.08.26 maturities traded at the rates of 8.05%, 8.25% and 8.30%. The 15.01.28, 15.02.28, 15.03.28 and 01.05.28 maturities trading at the rates of 9.00%, 9.05%-9.04%, 9.10%-9.09% and 9.10%.

The 15.10.28 and 15.12.28 traded at the rates of 9.18% and 9.20% respectively. The 15.09.29 and 15.10.29 maturities both traded at the rate of 9.60%.

The 15.05.30 maturities traded within traded within the ranges of 9.78%-9.74%. The 01.10.32 and 15.12.32 maturities traded at the rates of 10.50% and 10.55% respectively.

In the secondary Bills market, trades were observed on January 2026 maturities at the rates of 7.67%-7.66%.

The total secondary market Treasury Bond/Bill transacted volume for 30 September was Rs. 5.93 billion.

In money markets, the weighted average rates on overnight call money and Repo stood at 7.87% and 7.88% respectively.

The net liquidity surplus was recorded at Rs. 169.03 billion yesterday. An amount of Rs. 22.50 billion was withdrawn from the Central Bank’s SLFR (Standing Lending Facility Rate) of 8.25%, while an amount of Rs. 191.53 billion was deposited at Central Bank’s SDFR (Standard Deposit Facility Rate) of 7.25%.

During his interaction with Sri Lankans living in the US last week, President Anura Kumara Disanayake was asked about his stance on the death penalty to which he responded that this was an issue that should be considered carefully before being implemented.

‘We tend to think we should at least hang them. But I have to sign the death of a living being. Is it suitable? We must see if hanging is the only solution to prevent crimes, and how a signature decides a person’s fate,’ he said.

It is refreshing to hear from the President that the execution of the death penalty should not be taken lightly and not brought back as a way to curb rising crime rates.

There has been a moratorium on the death penalty since 1978 while the last execution took place in the country in 1976. Despite this there have been calls to bring back the death penalty, mainly when serious crimes are reported.

The death penalty has been abolished in over 140 countries while there is a moratorium on carrying out death sentences in some countries. However, countries such as the USA, China, Japan, and India are some of the countries where the death penalty is still carried out.

There is an inherent danger of carrying out the death penalty given the chance that there could be a miscarriage of justice and the wrong person could end up in the gallows; this is one of the main reasons that there is strong opposition to the death penalty.

But on the other hand, there are many who favour it believing that a fear of the death penalty would stop criminals. However, there is no evidence that the death serves as a deterrent against crime. Nowhere in the world do people have 100% faith in the judiciary and the police. They are the two institutions that decide the fate of a criminal and hence there will be a question even if a person is convicted and sent to the gallows.

Terrible crimes are committed in the world today including in Sri Lanka. There are shootings, murders and drug-related crimes which carry the death penalty but there are also serious questions about how impartially investigations are carried out.

Those who commit crimes and are found guilty should be punished, but life imprisonment is a good enough punishment for them.

The death penalty is irreversible and not even the person sitting in the highest office in the country wants to sign the death warrant of another man. This is clear from what President Disanayake said.

It is a human instinct to seek the worst punishment for those they see as being unfit to live in this world. This is partly true of those running the illicit drug trade in the country. There are often posts on social media calling for the death penalty for those that deal in drugs, but the reality is this is a social problem that will not be solved by hanging anyone. In fact, the death penalty will likely have the opposite effect and make heroes of criminals. One of the last to be hanged was D.J. Siripala better known as Maru Sira and today his story is stuff of legend with the crimes he committed forgotten.

It is one thing to bring back alleged drug lords with a lot of media attention from overseas and showcase them, but what has driven young men and women towards criminality has to do with poverty and inequality in society.

So, while the President’s words are welcome, the Government should focus more on rehabilitation and addressing the social issues that drive people towards a life of crime, particularly the drug trad

The rise of digital technology has created new spaces for children to learn, connect and grow. From online classrooms to social media and gaming platforms, the digital world has become an integral part of childhood. However, with these opportunities comes a growing risk-online harassment and cyberbullying. On World Children’s Day, it is essential to spotlight the importance of protecting children in virtual environments and ensuring their voices, emotions and safety are not compromised.

Cyberbullying takes many forms, including threatening messages, mockery, impersonation, spreading rumours, posting embarrassing photos or excluding someone from online groups. Unlike physical bullying, digital abuse can happen anywhere, anytime-even from behind a screen-and often goes unnoticed by adults. A single harmful post can reach hundreds within seconds, leaving lasting emotional scars.

The psychological impact of cyberbullying on children is profound. Victims may experience anxiety, loneliness, fear, humiliation and depression. Their confidence can drop, affecting academic performance, friendships and family relationships. In severe cases, cyberbullying has led to self-harm, school refusal and long-term trauma. Because children often hesitate to speak up, many suffer in silence while trying to navigate complex emotions alone.

Parents have a crucial role in safeguarding their children. Creating a safe space for open conversations is the first step. Instead of reacting with blame or anger, parents should encourage children to discuss their online experiences freely. Setting age-appropriate screen time limits, monitoring privacy settings and staying informed about the apps children use can help prevent harmful situations. Parents should also watch for signs such as irritability, withdrawal, mood swings, sleep disturbances or sudden disinterest in digital devices or schoolwork.

Schools are equally responsible for prevention and intervention. Digital citizenship education should be part of the curriculum, teaching students about respect, empathy, privacy and the consequences of harmful online actions. Anti-bullying policies must include cyberbullying, with clear steps for reporting and addressing incidents. Teachers and counselors should be trained to identify victims and respond sensitively, ensuring that the child does not feel blamed or isolated. Student-led peer support groups and awareness campaigns can create safer school cultures and empower children to stand against digital bullying.

Community involvement adds another layer of protection. NGOs, youth organizations and child protection agencies can conduct workshops, helplines and outreach programmes. Public awareness campaigns through media and social platforms can educate parents, children and teachers about cyber safety, mental wellbeing and responsible online conduct.

Technology companies must also take accountability. Social media platforms, messaging apps and gaming networks should invest in stronger monitoring systems, AI moderation tools and quick-response mechanisms to report and remove abusive content. Child-friendly settings, privacy controls and age verification processes should be mandatory. Clear communication channels for complaints can help victims feel supported and heard.

Governments can support these efforts by strengthening legal frameworks that criminalize cyberbullying and protect children’s rights online. Collaboration between ministries of education, justice and telecommunications can result in practical guidelines and enforcement mechanisms. Hotlines, support services and data protection policies must be available at national and community levels.

Children themselves need awareness and confidence to protect their digital wellbeing. They should be encouraged to speak up if they feel threatened, harassed or uncomfortable online. Teaching them to block unsafe contacts, report abuse, avoid oversharing personal details and use secure privacy settings is essential. Empowering children to be upstanders-not silent bystanders-helps create safer online communities.

Emotional resilience also plays a key role. Children who feel supported, loved and understood are better equipped to handle challenges. Families can promote hobbies, outdoor activities and social interaction beyond screens to ensure children are not overly dependent on digital validation.

Protecting children from cyberbullying requires teamwork-parents, schools, communities, tech companies, policymakers and children themselves must work together. It is not enough to react after harm occurs; proactive measures, education and empathy are essential to prevention.

On this World Children’s Day, let us commit to building digital spaces rooted in kindness and safety. Every child deserves the freedom to learn, play and connect without fear of humiliation or harassment. By listening, guiding and acting together, we can ensure that technology becomes a tool for progress-not pain-in a child’s life.

People’s Bank, one of the country’s leading banks, celebrated World Children’s Day and Senior Citizens’ Day, which falls annually on 1st October, by continuing to fulfil its responsibility towards the children of the nation. It has also taken steps to offer many benefits to the proud senior citizens of the country who are peacefully enjoying the twilight years of their lives.

Sharing her thoughts on this, Deputy General Manager – Retail Banking and Overseas Customer Services Aruni Liyanagunawardana stated:

Children and the elderly constitute a significant percentage of the population of a country. Children are the future of the country, and the elderly are the people who have laid the foundation for that future and spend the twilight years of their lives in peace. Every year, World Children’s Day and Senior Citizens’ Day are celebrated on 1st October with all of them in mind, and People’s Bank marks the occasion by launching many special programs for their benefit.

Accordingly, during the period 1st October to 31 December 2025, steps have been taken to present valuable stationery kits and other useful gifts to children who deposit Rs. 1,000 and above in their People’s Bank Isuru Udana Account or Sisu Udana Account which were introduced with the aim of familiarizing school children with the concept of saving.

Furthermore, the children of People’s Bank’s Ethera Udana Personal Foreign Currency Minors’ Account who open and receive remittances during the period 1st October to 31st December 2025, will be eligible to win Ethera Udana stationery sets worth Rs. 5,000.

In addition, special discounts have been made available to senior citizens with Parinatha Savings Accounts from 1st October 2025 to 31st December 2025 at the island’s leading hospitals, opticians and bookstores. Parinatha Savings Account was introduced by People’s Bank for senior citizens provides the highest interest for deposits.

These accounts can be opened at over 750 People’s Bank branches or service centers located across the island. As a leader in digital banking, People’s Bank is fully-committed to providing customers with an innovative and efficient service through a range of unique digital banking facilities. Further, since People’s Bank is a fully state-owned bank, customers will also enjoy unparalleled security on their funds. For more information on these benefits, you can call People’s Bank’s hotline on 1961 or visit www.peoplesbank.lk.

Isuru Udana

People’s Bank introduced the Isuru Udana account in 1998 under the theme ‘The wisest gift for a child’. This account is designed with a number of special benefits for children under the age of 5.

Sisu Udana

People’s Bank introduced the Sisu Udana account in 1996 with the aim of inculcating the habit of savings among school children between the ages of 5 and 18.

In addition to this, with the aim of providing a strong support to the educational journeys of students, People’s Bank recognizes students who pass the Grade 5 Scholarship examination by giving a special gift while students who pass the Ordinary Level (O/L) and Advanced Level (A/L) examinations with Distinction passes are presented with financial rewards.

Today, the largest number of children in Sri Lanka maintain their savings accounts with People’s Bank. In addition to interest, children are entitled to various rewards and benefits depending on the amount deposited in these accounts. People’s Bank is also committed to building a stable future for them by providing them various financial services up to the higher education level.

Ethera Udana

People’s Bank has introduced the Ethera Udana Personal Foreign Currency Minors’ Account to help parents who are working abroad to save for their children in foreign currency and thereby build a strong financial foundation for their children’s education, future investments and important life events.

Ethera Udana Personal Foreign Currency Minors’ Account holders can enjoy higher interest on the increasing account balance, receive up to Rs. 100,000/- towards the first airline ticket for studying abroad, and cash prizes for the highest results in both O/Ls and A/Ls (local/international). Children holding Ethera Udana accounts will also be able to enjoy a number of benefits including tuition fees for foreign education, exemption from bank charges, and many more benefits.

Parinatha

People’s Bank has launched the Parinatha Senior Citizen Savings Account, through which you can enjoy a host of benefits for your hard-earned money, including debit and credit card facilities and the ability to transact from home through our state-of-the-art digital banking services.

The Colombo Lotus Tower Management Company (CLTMC) said that it has increased revenue by 31% since it took over administration.

This was disclosed by the CLTMC Chairman Shirantha Peries and Chief Executive Officer (CEO) Dr. Chamaru de Alwis, at a press briefing on Tuesday evening.

‘Since we took over the administration exactly a year ago, the CLTMC has demonstrated remarkable financial progress under the new management,’ CLTMC Chairman Shirantha Peries, addressing a press briefing on Tuesday which was attended by CEO Dr. Chamaru de Alwis.

‘For the period ending August 2025, revenue reached Rs. 1.43 billion, a 31% increase compared to the same period in 2024. The gross profit grew by 77% to Rs. 786.86 million, with margins improving from 42% to 55%. Our Profit Before Tax (PBT) surged by 192% to Rs. 539.93 million, with margins rising from 18% to 38%. This strong performance reflects disciplined management, prudent decision-making, and effective cost controls,’ Peries said, highlighting the possibility of further enhancing on efficiency and services provided to visitors of the country’s and South Asia’s tallest self-supported structure.

Since October 2024, the Colombo Lotus Tower has been under new management, led by the Chairman Peries, CEO Dr. de Alwis and the Board of Directors. CLTMC boasts a team of more than 120.

The new management has focused on enhancing safety, operational efficiency, visitor experience, and financial performance, while positioning the Tower as a premier cultural, entertainment, and adventure destination in South Asia.

CLTMC remains committed to upholding international standards of safety, operational efficiency, financial transparency, and innovation, and with strategic initiatives underway, the Company is focused on establishing Colombo Lotus Tower as South Asia’s foremost hub for Education, Technology, and Entertainment.

‘Our priorities have been to strengthen operational efficiency, unlock promotional opportunities and deliver greater value to the public. Despite challenges we faced, we have recorded a significant growth in both revenue, which is the number for launching new initiatives that position the local company. I extend my sincere thanks and appreciation to the Board of Directors, our highly educated staff, valued partners and stakeholders for their continued trust and support as we take the tower to even greater heights,’ Peries added.

Following the tragic incident of 7 October 2024 under the previous management, in which a young student lost her life, the new management acted swiftly to strengthen safeguards further and maintain international safety standards. A steel mesh barrier was installed around the Observation Deck, security personnel were increased, and CCTV surveillance was enhanced across key areas. These measures, along with revised protocols and heightened monitoring, reaffirm CLTMC’s commitment to ensuring that visitor safety, security, and well-being remain at the heart of its operations.

Peries said, ‘A partnership with the National Research Office around the Lotus Tower has initiated a series of forward-thinking digital projects. First, the digital ticketing platform, from a print to a digital ticketing platform replaced the manual system with a fully digital ticketing platform. Enhanced financial transparency, incident tracking and quality has provided a convenient and seamless entry experience for all guests who visit the tower. A smart digital tower parking solution is under development and all of us hope it will be in operation in the next two months. This includes real-time space monitoring, optimisation of revenue collection and streamlined cash management. We, as the new management, have done justice to the valuable funds of all Sri Lankans, while enhancing the present government’s commitment towards an accountable administration.’

During the past 12 months the CLTMC has upheld its contractual rights in the Court of Appeal against non-compliant tenants, a legal outcome that reinforces the Tower’s standing as a well-managed national asset and safeguards its long-term commercial interests.

As part of its ongoing strategy to maximise the Lotus Tower’s commercial potential, CLTMC has been actively identifying and leasing additional prime commercial spaces. These initiatives contribute to sustainable revenue growth, enhance the vibrancy of services offered, and strengthen the Tower’s role as a dynamic hub for business, leisure, and cultural activities.

CLTMC CEO Dr. de Alwis noted, ‘As the Chairman duly highlighted, every single inch or square foot of the property matters, as potential investments that could enhance the market value of Lotus Tower as a popular destination among local and foreign visitors, as well as investors. We highly admire the commitment of our staff members, who have been genuine the strength behind the success of Lotus Tower during the 12 months under the new management.’

Looking ahead, the CLTMC has laid the groundwork for projects that will shape the Tower’s future and reinforce its position as a premier destination in South Asia. Among these is the proposed Lotus Aquarium Café, a joint venture that will combine a state-of-the-art Aquarium Gallery with a themed Café backed by a proposed Rs. 100 million investment.

In addition, CLTMC has signed an agreement to introduce Sri Lanka’s first-ever bungee jumping attraction, which will also be the world’s highest tower bungee jump. Currently in the engineering and planning stages, this initiative is set to launch next year.

The 28th-floor luxury suites boast breathtaking panoramic views of Colombo’s skyline, Beira Lake, and the lush surrounding landscapes, these suites will be repositioned as exclusive accommodation for high-end guests seeking privacy, elegance, and unmatched scenery.

CLTMC plans to operate them as signature luxury stay experiences, offering elevated comfort, personalised service, and world-class hospitality standards, complete with premium amenities and curated guest services, making them a standout choice for discerning travellers, dignitaries, and VIP visitors alike.

Furthermore, a warehouse project of 42,000 square feet also presents significant opportunities for new investment. CLTMC is in active discussions with multinational investors to develop these spaces into profitable ventures, potentially attracting foreign direct investment (FDI) to Sri Lanka. By converting underutilised areas into active commercial assets, CLTMC demonstrates its commitment to maximising the Tower’s value for the nation, fostering international partnerships, and welcoming new investment opportunities.