Panasian Power connects 5MW Ampara solar plant to national grid

Panasian Power PLC yesterday said it has successfully connected a 5MW ground-mounted solar project at Deegawapiya, Ampara, to the national grid through the Ampara Grid Substation on 17 October 2025.

The company said the project marks the fifth 5MW ground-mounted solar power plant connected to the national grid out of seven projects that entered into power purchase agreements (PPAs) in the third quarter of 2024.

The project, operated through a subsidiary of Panasian Power, has commenced revenue generation.

‘This testing and commissioning represents a significant milestone in our renewable energy development strategy, adding another 5MWac/6.76MWp to the national grid and supporting Sri Lanka’s commitment to expanding its renewable energy capacity,’ the company said.

Panasian Power said the project integrates advanced technology, utilising Longi Bi-facial N-type Solar PV 615 W modules with Fixed Tilt technology. The DC capacity has been enhanced to effectively harness solar resources and ensure an optimum AC/DC design ratio.

Credit card balances up 3.9% YTD Aug. to Rs. 164 b

Latest data from the Central Bank of Sri Lanka (CBSL) shows that total outstanding balance on credit cards rose to Rs. 164.2 billion in August, up 3.9% from end-2024 and a 1.8% gain from the previous month. The data reflect sustained consumer demand amid easing inflation and improving confidence in household credit.

Credit card usage has continued to expand in 2025, with the total number of active cards reaching 2.1 million by August, up 4.7% from December 2024.

Global credit cards, those accepted internationally, accounted for the bulk of the market, rising to 2.09 million from 2 million in December, while locally accepted cards declined 6.9% over the same period to 9,099.

Outstanding balances on global cards climbed 3.1% to Rs. 126.9 billion, while local card balances rose a faster 7.0% to Rs. 37.3 billion, suggesting stronger domestic spending momentum.

President reassigns key institutions under ministries

President Anura Kumara Disanayake has issued a special gazette, dated 18 October 2025, redefining the functions and institutions coming under several ministries following the recent Cabinet reshuffle. The reallocation marks one of the most extensive administrative reorganisations in recent years, affecting core areas such as defence, public security, finance, energy, and transport.

Under the new arrangement, the Civil Security Department (CSD) has been moved from the Ministry of Defence to the Ministry of Public Security, which also now oversees the Sri Lanka International Arbitration Centre and the Office of the Commissioner General of Rehabilitation.

The Ministry of Defence, in turn, has been assigned the National Hydrology Council and the Sri Lanka National Hydrology Office.

The Ministry of Finance, Economic Development and Fiscal Management now includes Hotel Developers (Lanka) Ltd. and the Casino Regulatory Authority, consolidating oversight over key State enterprises and gaming regulation.

In the energy sector, the Lanka Electricity Company Ltd. and its subsidiaries have been added to the Ministry of Power and Energy, while the Atomic Energy Board and Atomic Energy Regulatory Council have been shifted to the Ministry of Science and Technology which will also handle nuclear oversight functions.

The Ministry of Health and Media has gained several new institutions, including the State Trading (General) Corporation Ltd., Salasine Media Solutions Ltd., the Ayurveda Education and Health Board, and the Sri Lanka Nursing Council, while Sri Lanka Triposha Ltd. has been reassigned to the Ministry of Trade, Food Security and Cooperative Development.

Other notable changes include the addition of the Commission for Online Safety and the Colombo Lotus Tower Management Company to the Ministry of Digital Economy, and the transfer of the National Secretariat for Non-Governmental Organisations and the Partnership Secretariat for World Food Program Cooperation to the Ministry of Rural Development, Social Security and Community Empowerment.

The newly formed Ministry of Transport, Highways and Urban Development will oversee 17 institutions, including the Road Development Authority, National Transport Commission, Sri Lanka Railways, Urban Development Authority, and the Motor Traffic Department.

In addition, the Ministry of Ports and Civil Aviation Services now supervises the Sri Lanka Ports Authority and its subsidiaries, Lanka Shipping Corporation Ltd., the Civil Aviation Authority, Airport and Aviation Services (Lanka) Ltd., and SriLankan Airlines Ltd.

The Ministry of Housing, Construction and Water Supply has been expanded to include the National Housing Development Authority, State Engineering Corporation, Building Materials Corporation Ltd., National Machinery Institute, and the National Water Supply and Drainage Board.

The gazette consolidates functions across ministries to reflect the new Cabinet structure, str

Uga Halloowella honoured as one of Asia’s Best Hotels at Condé Nast Traveller Readers’ Choice Awards 2025

Uga Resorts has announced that its iconic boutique hotel Uga Halloowella, has been recognised among the Best Hotels in Asia, ranking No.5 in the ‘Rest of Asia’ category at the prestigious Condé Nast Traveller Readers’ Choice Awards 2025.

The fantastic accolade holds a distinctive significance as it is determined in its entirety by reader votes, which reflects the heartfelt appreciation of discerning travellers from around the globe. It is a testament to the unparalleled guest experience, attention to detail, and authentic Sri Lanka hospitality that Uga Halloowella embodies.

Uga Resorts Executive Vice President Sales and Marketing Marcelline Paul said, ‘It is a true honour to have been recognised as one of the best hotels in Asia. We would like to express our deepest gratitude to all those whose votes made this possible. This achievement emphasises the passion of our team and the love our guests have shown us. We remain committed to creating extraordinary experiences that are inspired by the beauty and heritage of Sri Lanka’s hill country.’

Uga Halloowella lays nestled in the hills of Hatton, overlooking the Castlereagh Reservoir. It is a meticulously restored 19th century, British-era bungalow that was once owned by Major Elton Lane. Today, it blends age-old colonial charm with contemporary luxury, and offers six exquisitely designed suites, that capture the essence and elegance of a bygone era.

Guests can enjoy its many amenities including an infinity pool, bespoke dining experiences, explore the serene Pekoe Trail, or even immerse themselves in the tranquillity of the surrounding tea plantation.

Every element of Uga Halloowella, reflects the brand’s philosophy of sustainability, exuding a harmonious coexistence of heritage, nature, and refined luxury.

The recognition at the celebrated Condé Nast Traveller Readers’ Choice Awards 2025, truly underscores Uga Halloowella’s position as a world-class destination that redefines boutique luxury in Sri Lanka’s picturesque hill country.

Sysco LABS drives future-of-work conversations at Great Place to Work CXO Forum 2025

Sysco LABS was a partner of the CXO Forum at the Great Place to Work Regional Conference 2025, which was held in Colombo recently. Sysco LABS Senior Director – Delivery Asanga Nugawela moderated a thought-provoking panel at the event titled ‘Legacy to Leap: Building a Digitally Fluent Multigenerational Workforce.’

The discussion brought together a diverse line-up of industry leaders, including Artificial Intelligence (AI) Integration Consultant and PulseShift Ltd., CEO Treasurex Melchior, ADA Regional Head – South Asia Sanjini Munaweera, Stretchline Holdings Group Chief Digital and Transformation Officer Shanaka Rabel, and AI researcher Chameera De Silva.

The panel explored how digital fluency, inclusive cultures, and the integration of AI and emerging technologies are reshaping the modern workplace-enabling multigenerational teams to collaborate, innovate, and thrive in the era of digital transformation.

Continental Insurance salutes CEO Gerry Gunadasa for being inducted into SLII Hall of Fame

Continental Insurance recently announced that the company’s Chief Executive Officer Gerry Gunadasa has been honoured with the prestigious Hall of Fame title by the Sri Lanka Insurance Institute (SLII).

This distinguished title was presented during the 22nd International Insurance Congress 2025, held at Cinnamon Life on 13 October, marking a defining moment for the company and the industry.

This award is a fitting tribute to a career that spans over six decades, marked by unwavering dedication, integrity and a passion for excellence that has shaped the insurance landscape. Gunadasa is a respected Chartered Insurer whose remarkable journey began in 1962 at the age of 18. Following the Nationalisation of General Insurance in 1963, he joined a leading insurance company where he rose to the position of Assistant General Manager Technical over the course of 18 years.

In pursuit of international experience, Gunadasa concluded his position there and joined INSCO Dubai in 1981, serving as Branch Manager for Dubai and Abu Dhabi operations from 1981 to 1991. Following this, his expertise then led him to serve at the National Company for Cooperative Insurance in Saudi Arabia as Head of General Insurance and Underwriting from 1991 to 2002. Returning to Sri Lanka, he continued to play an important role in strengthening the insurance landscape, holding Senior Management positions in various leading insurance companies.

He brought his wealth of knowledge and leadership to Continental Insurance since its inception in 2009, and today, as the Chief Executive Officer, he continues to drive the company forward with his strategic vision and vast experience. Throughout his notable career, he has remained deeply committed to the advancement of insurance education and professional development as a lecturer and trainer, for field officers and industry professionals. His technical knowledge and international exposure have made him a mentor within the profession.

The company applauded Gerry Gunadasa for being honoured in the Hall of Fame, a fitting tribute to his remarkable leadership.

JF Packaging eyes debt-free growth, stronger investor returns post-listing

JF Packaging Ltd. is preparing to enter a new growth phase following its Rs. 600 million Initial Public Offering, with the company aiming to reduce debt, boost profitability, and accelerate investment in innovation and exports. The IPO, which opens on 30 October 2025, will fund the settlement of specific term and import loans, strengthening its balance sheet and improving financial flexibility.

According to HNB Investment Bank Senior Assistant Vice President – Corporate Finance Shivanthi Sugathadasa, who manages the issue, the deleveraging move is expected to significantly enhance shareholder value.

‘Post-IPO, the group’s interest coverage ratio is projected to improve from 1.9 times to around 3 times, translating to a 20% annual saving in finance expenses,’ she said. Sugathadasa added that the IPO price of Rs. 11.60 per share offers a potential 36.6% upside to investors, making it attractively valued relative to peers.

She noted that the implied forward price-to-earnings multiple of 7.78 times and price-to-book value of 1.25 times remain below the market averages, underscoring the issue’s relative value proposition.

‘The offer positions JF Packaging for sustainable long-term growth while providing investors with an entry point at a fair valuation,’ she said.

JF Packaging Managing Director K.P. David said the company’s immediate priority after listing will be to strengthen its balance sheet and reinvest in innovation.

‘By deleveraging, we position ourselves to reinvest more confidently in capacity expansion, sustainability, and research and development,’ he said. ‘The IPO is a strategic step to free up cash flow and unlock growth opportunities across the group.’

JF Packaging’s revenue has doubled over the past five years from Rs. 2 billion to Rs. 4.4 billion, with projections indicating a further rise to Rs. 7.3 billion within four years at a compound annual growth rate of 13%. The company maintains gross profit margins above 25% and serves global and local FMCG clients including Nestlé, Unilever, Prima, Keells, Cargills, and CBL.

JF Packaging Chairman S.D.R. Arudpragasam said the post-listing phase will focus on scaling exports and consolidating market leadership in flexible and sustainable packaging.

‘The listing is a natural extension of our diversification strategy and strengthens our ability to compete regionally,’ he said. ‘We are committed to upholding the highest standards of governance and transparency as we move into the public market.’

JF Packaging’s operations span five subsidiaries, producing flexible packaging, PET products, adhesive tapes, and paper-based solutions, with one-third of its revenue linked to exports. The company operates a globally certified facility in Ekela and holds over 80 industry awards, including the World Packaging Organisation’s WorldStar President’s Award.

Sugathadasa said the company’s integrated model, sustainability-driven innovation, and export exposure make it a strong candidate for investors seeking long-term value. ‘This IPO is not just about listing a packaging company,’ she said. ‘It’s about bringing a well-diversified, award-winning Sri Lankan manufacturer to the market at a valuation that leaves room for meaningful upside.’

When brands take a stand: High-stakes game of activism marketing

As marketers, we were all recently exposed to a communication campaign by a popular tea brand in Sri Lanka that sparked significant discussion on social media, with certain audiences and factions deeming it controversial. This type of communication can be classified as brand activism – where a company publicly endorses or dismisses a social, political, environmental, or cultural issue – advocacy marketing, where a brand advocates beyond its product utilities or benefits – or the more recent term, woke advertising.

In light of this subject being heavily discussed, we as marketers can use this as a platform for learning and explore how to establish insights for the future. This article will examine case studies of campaigns of this nature that have both succeeded and failed, noting key learnings we can build upon.

Nike – ‘Dream Crazy’ (2018)

One of the most notable campaigns, released in September 2018 by Nike, was the ‘Dream Crazy’ advert starring Colin Kaepernick, which addressed issues of racial injustice and protest in sport. Although this campaign was initially deemed unsuccessful and criticised by many, including Donald Trump – resulting in user-generated content of people burning their Nike shoes – it later gained traction as younger and progressive audiences began resonating with the ad. As these audiences built a strong affiliation with the brand, sales increased by 31%, while company stock rates rose by 5%. The ad went on to win an Emmy Award, proving its impact through initial resistance.

The success of this campaign pivoted on how the brand’s original, distinctive, and engaging brand values, together with its history of bold brand communications, paved the way for Nike to remain resilient when faced with adversity and criticism. This, in turn, resulted in a stronger bond and relationship between the brand and its stakeholders, including customers.

Always – ‘#LikeAGirl’ (2014)

Another noteworthy campaign was #LikeAGirl by Always in 2014, which took on the challenge of battling gender stereotypes and promoting female empowerment. This campaign, which has also been categorised as ‘femvertising’, managed to attain its objectives by gaining widespread traction and social acceptance. It succeeded because it addressed a concern applicable to everyone at some point in their lives, as the issue would have directly or indirectly impacted them. This campaign was easier for audiences to resonate with, as most had encountered the disadvantaged party at one point or another.

Burger King – Women’s Day Tweet (2021)

In contrast, a campaign that went south was Burger King’s Women’s Day ad, which stated ‘Women belong in the kitchen’ as a hook to grab attention and create awareness that this wasn’t actually the case. However, the brand faced major backlash as its Twitter post gained widespread criticism, leading the brand to apologise. The core objective and purpose of the campaign were not met, as the channels and audience experiences were not thoroughly thought through before execution.

The learnings we can take forward are that brands that step into activism, advocacy, or woke advertising need to be authentic and aligned with their core brand values and history. Furthermore, cultural sensitivity is of utmost importance. It is necessary to highlight that, in discussing cultural sensitivity, a brand must also consider how pressing the issue is and how it resonates with and impacts the majority of the audience. Finally, while being connected to the brand’s mission, if a brand decides to step into this bold territory, it must at all times be prepared to stand firm and ready for potential backlash, as how a brand acts in times of adversity speaks volumes about its brand personality.

(The writer is a marketing and communications strategist with over 10 years of experience transforming brands across Sri Lanka and the UK. He holds a Bachelor’s degree from the USA (2014) and recently earned an MSc in Digital Marketing with distinction from Middlesex University, UK (2024). An innovative and results-driven leader, he brings expertise spanning marketing and advertising, corporate communication, public relations, strategic planning and finance. His portfolio includes arts marketing in the UK, where crafted and managed high-impact campaigns that resonate across diverse audiences. Known for his strategic ingenuity and deep understanding of digital platforms and consumer insights, he writes on contemporary marketing trends, brand activism and the evolving relationship between brands and society.)

People’s Bank participates in CBSL ‘Pay Digital’ initiative

People’s Bank has taken part ‘Pay Digital’ initiative organised by the Central Bank of Sri Lanka (CBSL) recently at its Headquarters in Colombo.

At the event, People’s Bank showcased its latest advancements in digital banking through an interactive stall that attracted strong public interest. The display featured People’s Wave and People’s Pay Wallet, both of which have transformed the way customers experience everyday banking.

Visitors to the stall had the opportunity to experience the bank’s seamless digital account opening process and explore a comprehensive range of digital financial services. The hands-on demonstrations offered participants an engaging look at how People’s Bank continues to simplify and modernise banking for customers across the country.

Sri Lanka showcases tourism potential at TTG Travel Experience 2025

Sri Lanka made a strong presence at the TTG Travel Experience 2025, Italy’s leading international travel and tourism fair, held from 8 to 10 October 2025 at the Rimini Expo Centre. The Sri Lanka Tourism Promotion Bureau (SLTPB), in collaboration with the Consulate General of Sri Lanka in Milan, organised the country’s participation, marking another significant step in strengthening Sri Lanka’s visibility and partnerships in the Italian market.

The Sri Lanka pavilion drew significant interest during the exhibition, with 24 Destination Management Companies (DMCs) from Sri Lanka joining the national delegation to promote the country’s wide range of tourism offerings-from wellness and cultural tourism to adventure, wildlife and experiential travel. The collective effort aimed to position Sri Lanka as a diverse, sustainable and high-value destination catering to the evolving preferences of Italian travellers.

Italy continues to be one of Sri Lanka’s key source markets, showing a steady increase in arrivals in recent years. For the first three quarters of 2025, there is a record increase of 33% of tourist arrival from Italy compared to the similar period of 2024. This growth significantly surpasses the overall increase in tourist arrivals to the country, which stands at 16.2%. Participation in TTG 2025 thus served as a timely opportunity to reaffirm Sri Lanka’s commitment to the Italian market and to rebuild strong B2B and media connections following global travel disruptions.

The three-day event provided a valuable platform for networking, partnership building and destination branding, with Sri Lanka’s pavilion drawing a high level of interest from travel professionals seeking authentic, sustainable and experiential destinations in Asia.

Organised for the 62nd time, TTG Travel Experience is Italy’s premier B2B event for promoting global tourism. The event was officially inaugurated by the Italian Tourism Minister Daniela Santanché on 8 October, and she emphasised the strategic importance of tourism as an economic and social driver in any country. A significant number of qualified attendees was registered, with a 3% overall growth compared to the previous edition. It brought together 2700+ exhibiting brands, 1,0