Category: Daily Financial Times

A brilliant unbroken 115-run partnership for the fifth wicket off 60 balls between Janith Liyanage (53* off 32 balls, 6 fours, 1 six) and James Neesham (48* off 36 balls, 5 fours, 2 sixes) saw Colombo Kaps turn the game on its head and beat Kandy Falcons by six wickets to record their first win in the second LPL match played for the day under lights at the SSC grounds yesterday.

Chasing a target of 180, Kandy Falcons seemed to have the game well under control when they captured four wickets for 67 at the halfway stage of the innings with Wanindu Hasaranga choking them taking two quick wickets. Colombo needed 104 off the last eight overs and it was then that Player of the Match Liyanage and Neesham decided to change gears and to get Colombo over the line.

Although Neesham missed out on his fifty by two runs, his knock nevertheless was no less crucial than Liyanage’s unbeaten 53. The turning point was the 15th over by Garuka Sanketh, which saw a chance dropped over the boundary rope for six, followed by two no-balls, including one on a ball where Sanketh thought he had Neesham out. The over cost 25 runs and the runs then just kept coming for Colombo.

A disappointed Kandy Falcons captain Angelo Mathews said: ‘If not for our kiddish mistakes, we kept repeating dropped catches at crucial times and no-ball after no-ball, you can’t be doing those things in a professional game. This was a terrible game, one of the worst I’ve ever played. It was just about silly mistakes yesterday and we repeated the same. We can’t go a long way in the tournament if we keep doing this.’

Colombo Kaps lost their skipper Kusal Mendis who retired hurt early through an injury, but the win was all the sweeter. Even with the ball, they were largely impressive, with Binura Fernando and Hasan Mahmud sharing seven wickets.

Lahiru Udara held the early part of the innings with a half-century – 53 off 36 balls (8 fours, 1 six) and Mathews (45 off 42 balls, 2 fours, 2 sixes) and Moeen Ali (41 off 17 balls, 1 four, 4 sixes) helped Kandy Royals get to 179 with a stand of 65 off 36 balls.

Scores:

Kandy Royals 179 (20) (Lahiru Udara 53, Angelo Mathews 45, Moeen Ali 41, Binura Fernando 4/45, Hasan Mahmud 3/31)

Colombo Kaps 182-4 (19.4) (Kamindu Mendis 26, Ben McDermott 22, Janith Liyanage 53*, James Neesham 48*, W Hasaranga 2/29)

The All Ceylon Egg Producers Association yesterday announced that egg prices will be increased with effect from today (20), with the retail price of a white egg rising to Rs. 41 and a red egg to Rs. 42.

Association President Sarath Rathnayake, speaking at a media briefing in Kuliyapitiya, attributed the price increase to shortages of poultry feed, claiming the Government and relevant authorities were responsible for the situation.

He said maize imports have been completely suspended, while domestic maize production is insufficient to meet the industry’s requirements.

According to Rathnayake, the use of alternative feed ingredients, including rice, has affected poultry health and digestion, resulting in a 20-30% decline in egg production.

He also alleged that chemicals and medicines used in animal feed by some traders had caused the deaths of large numbers of poultry, leading to significant losses for farmers and a further decline in daily egg production.

Rathnayake said the industry’s concerns have been repeatedly raised with the authorities, but no effective measures have yet been taken to address the issues.

E-Visible recently celebrated its 15th anniversary, marking a significant milestone in its journey from a one-person operation to one of Sri Lanka’s leading shipping desk service providers.

The occasion also highlighted the company’s continued commitment to innovation with the introduction of Navitrax, a next-generation technology platform designed to transform shipping desk operations.

Founded in 2010, E-Visible began when a leading multinational company approached the team with a temporary logistics requirement. The success of the solution and the value it delivered soon transformed a short-term assignment into a long-term partnership, laying the foundation for a company built on innovation, operational excellence, and customer trust.

Over the past 15 years, E-Visible has established itself as a pioneer in shipping desk services in Sri Lanka. Through its unwavering focus on customer success and continuous improvement, the company has earned the confidence of more than 20 leading local and multinational organisations.

From humble beginnings serving a single customer, E-Visible has grown into an organisation of over 100 professionals. This remarkable growth reflects the company’s dedication to delivering exceptional service while building long-lasting partnerships with its customers.

As the logistics industry evolved, E-Visible also recognised the growing challenge of attracting and retaining the skilled workforce needed to support expanding operations. Rather than relying solely on manpower, the company identified technology as the key to driving greater efficiency, maintaining service excellence, and supporting sustainable growth.

This vision led to the development of Navitrax, a next-generation technology platform built on 15 years of industry expertise. Designed to streamline shipping desk operations, Navitrax enhances productivity, improves operational visibility, and reduces dependence on manual processes, enabling organisations to build more resilient, scalable, and future-ready logistics operations.

As it celebrates this important milestone, E-Visible remains focused on the future. Backed by 15 years of trusted expertise, the company continues to invest in technology, drive operational excellence, and develop innovative solutions that empower customers to succeed in an increasingly dynamic global logistics landscape.

HNB PLC has been named Sri Lanka’s Best Bank for Large Corporates at the Euromoney Awards for Excellence 2026, marking the second time the Bank has secured this prestigious recognition.

The award reaffirms HNB’s position as the trusted financial partner of choice for the country’s leading conglomerates, exporters, multinational corporations, and infrastructure developers. It shows the bank’s continued commitment to delivering innovative and tailored banking solutions for the corporate sector.

During the review period, HNB structured and participated in several landmark transactions that extended its reach beyond conventional corporate lending.

These included participation in the $ 1 billion sustainability-linked syndicated financing for Aster Chemicals and Energy to support its acquisition of Shell’s refinery in Singapore, cross-border acquisition financing involving Surge Global and Calcey Technologies, and arrangement of the Rs. 44.5 billion syndicated financing for the 350MW Sobadhanavi power project, one of the largest project financing initiatives undertaken in Sri Lanka.

HNB Managing Director/CEO, Damith Pallewatte said: ‘Being recognised as our nation’s leading corporate banking partner on such a prestigious global platform further highlights HNB’s commitment to empowering Sri Lankan businesses with the capabilities, expertise and solutions needed to navigate an evolving marketplace. By building meaningful partnerships that go beyond financing, understanding our clients’ ambitions we are better able to support their growth through innovative solutions, sector insights and global connectivity. As we continue to strengthen our corporate banking ecosystem, we remain dedicated to creating sustainable value for our clients that also helps to elevate and empower the Sri Lankan economy.’

The Bank’s transaction banking franchise was a further point of distinction, supported by a network of more than 900 global correspondent banks, a corporate digital banking platform serving over 6,000 corporate customers, and transaction banking volumes reaching exceptional levels. HNB has continued to invest in digital onboarding, trade digitisation and cash management capability, while maintaining disciplined credit risk management and asset quality across its corporate portfolio.

HNB’s growing cross-border lending relationships in India, East Africa and the Middle East have also supported Sri Lankan corporates expanding beyond the domestic market.

HNB, Chief Operating Officer, Sanjay Wijemanne said: ‘This recognition is built on the confidence our clients have placed in HNB as their trusted partner. We have consistently invested in building the expertise, agility and capabilities needed to deliver tailored solutions for complex financing requirements, including large-scale projects, acquisitions, business expansion and cross-border opportunities. By taking the time to understand each client’s business and anticipate their evolving needs, we are able to deliver innovative financial solutions that generate sustainable, long-term value.’

The award strengthens HNB’s position as an integrated financial partner to Sri Lanka’s largest businesses, spanning corporate lending, trade finance, treasury, transaction banking and supply chain solutions.

The Association of Container Transporters (ACT), the apex representative body of Sri Lanka’s container transport industry, successfully concluded its 41st Annual General Meeting (AGM) and Fellowship on 26 June 2026 at the Lotus Tower, Colombo, reaffirming its commitment to strengthening the country’s logistics and supply chain sector through closer industry collaboration and constructive engagement with policymakers.

The AGM was attended by Ports, Aviation and Energy Minister Anura Karunatilleka, who graced the occasion as the Chief Guest, while the Deputy Minister Ruwan Kodituwakku attended as the Guest of Honour.

The event also brought together senior Government officials, industry leaders, corporate members, and representatives from the ports, shipping, logistics and supply chain sectors.

As Sri Lanka’s pioneering association representing container transport operators, ACT has played a vital role in supporting the country’s import and export trade for over four decades. Its membership comprises leading corporate transport companies that form an integral part of the national logistics network, providing essential container transportation services that facilitate the efficient movement and timely clearance of cargo while supporting uninterrupted port and vessel operations.

During the AGM, members reviewed the Association’s progress over the past year and discussed key industry priorities aimed at enhancing operational efficiency, improving stakeholder collaboration, and addressing challenges affecting the container transport sector.

The discussions highlighted the importance of a resilient and efficient transport network in strengthening Sri Lanka’s competitiveness as a regional maritime and logistics hub. ACT continues to work closely with the Government, the Sri Lanka Ports Authority and other industry stakeholders to address port-related operational matters, advocate practical policy solutions and promote initiatives that improve service standards and productivity across the logistics value chain. Looking ahead, the Association remains focused on safeguarding the interests of its members while introducing greater benefits, professional development opportunities and value-added services. Through continued collaboration with public and private sector stakeholders, ACT aims to contribute meaningfully to the sustainable growth of Sri Lanka’s trade, transport and logistics sectors, reinforcing the industry’s role as a key driver of the national economy.

Wesley College continued their impressive run in the L. E. Blaze Trophy encounter series when they cut loose late in the second half to beat Kingswood College 39-24 at the Nittawela Rugby Stadium last weekend.

The annual contest once again lived up to expectations as both teams produced an outstanding brand of rugby with an exciting style of running rugby, entertaining the large crowd with their attacking intent and never-say-die spirit. The scores were locked at 17-all at halftime, setting the stage for a thrilling second half before Wesley’s superior finishing and discipline carried them to victory.

Both sides showed plenty of enterprise from the opening whistle, moving the ball confidently through the backs while their mobile forwards provided a solid platform in both attack and defence. The game was played at a high tempo, with both teams creating scoring opportunities through quick ball movement and strong support play from their forwards and speedy three-quarter lines, though the ground conditions at Nittawela were hard on the lads.

Wesley skipper Kaizer Lye once again led the team admirably, while winger Mohamed Fawaz was another outstanding performer, using his blistering pace and sharp finishing to torment the Kingswood defence as he completed a superb hat-trick. His constant ghosting moves were a nightmare for the Randles Hill boys, who did not have an answer.

The Double Blues’ attacking display saw Fawaz score three tries, while Dinaru Lankendra, Ehran Ali and Prarthana Rodrigo also crossed the whitewash. Lye added two conversions and capped his fine performance with a superbly executed drop goal, while Rodrigo chipped in with another successful conversion.

Kingswood, however, refused to surrender without a fight and matched Wesley for long periods of the game. Captain Sachintha Naweesha produced a heroic individual performance, leading by example and scoring a magnificent hat-trick of tries to keep his side in contention. Menusha Marasinghe added the other Kingswood try, while Shamith Shafraz impressed with his all-round play and accurate goal-kicking, converting two tries.

Although Kingswood showed tremendous character and attacking ambition, Wesley’s experience, composure and ability to capitalise on scoring opportunities proved decisive in the closing stages. The Double Blues tightened their defence after the interval and finished strongly to pull away on the scoreboard.

With this victory, Wesley successfully retained the L. E. Blaze Trophy for a fifth consecutive year, underlining their continued dominance in one of Sri Lanka schools rugby’s traditional fixtures. The win will also provide valuable momentum as they continue their impressive campaign this season.

SSC and Panadura SC won their respective matches of the Under-23 Inter-Club two-day tournament against Kandy Customs SC and Army SC.

SSC, with a game in hand, virtually booked their place in the quarter-finals with a crushing innings and 4-run win against Kandy Customs SC at the Panadura esplanade.

The writing was on the wall for Kandy Customs SC after they were shot out for 69 in the first innings in reply to SSC’s total of 261. Forced to follow-on, Kandy Customs SC put up a much better performance with the bat, but it was not enough for them to avoid an innings defeat. Kandy Customs SC were dismissed for 188, with spinners Dinuka Wanniarachchi (match bag of 7/81) and Malsha Fernando (7/109) doing the damage. Only Hasindu Wickramarachchi resisted with 56 off 69 balls (6 fours, 2 sixes).

Panadura SC, boosted by a century from opener Suwahas Fernando (107 off 214 balls, 11 fours) and a half-century from Neksha Iddamalgoda (62 off 102 balls, 4 fours), scored 275 and dismissed Army SC twice for 175 and 139 (following-on), with off-spinner Malintha Silva taking a match bag of 7/109. Requiring 40 to win, Panadura SC got there losing five wickets.

Kurunegala Youth CC had to be content with first innings points after Nugegoda SWC came up with a strong batting performance in their second innings having followed-on to post 209-2 at the Welagedara Stadium.

Nugegoda SWC’s batting succumbed to the spin of Dinuka Tennekoon (3/70) and Vathila Udara (3/80) to be dismissed for 213 in their first innings. Janeth Kaushal top-scored with 70 (106 balls, 13 fours). The batting showed more stability in the second innings with Lahiru Dawatage (101* off 110 balls, 8 fours) and Abishek Jayaweera (73 off 61 balls, 5 fours, 5 sixes) sharing a stand of 137.

Colts beat Navy SC on first innings at Welisara, running up an impressive 404-2 declared where openers Randunu Ganganath (169 off 207 balls, 15 fours, 1 six) and Hiran Jayasundara (229 off 224 balls, 37 fours, 3 sixes), the former Sri Lanka Under-19 Captain, shared a massive stand of 400 off just 429 balls. Navy SC were dismissed for 191 with Ohas Sadew taking 5/39 and Shanil Perera 4/40. Yuneth Seneviratne made 60 off 99 balls with five sixes. Colts, in their second essay, scored 159-2, with skipper Randunu Gaganath following his first innings knock of 169 with 82 off 112 balls (10 fours) and Aaron Kodituwakku (54* off 77 balls, 8 fours).

Bloomfield recovered from losing half their side for 86 to beat United Southern SC on first innings at Salawa Army grounds, Kosgama.

Nisala Abeyratne played a match-winning knock of 68 off 129 balls (7 fours, 1 six) sharing in two crucial partnerships of 76 and 60 with Shanikya Deshapriya (27) and Hansamana de Silva (56 off 56 balls, 3 fours, 4 sixes) respectively to help Bloomfield total 284-9 declared in reply to United Southern SC’s 167 and 138-6 in the second innings.

Badureliya CC hit up a massive total of 654 to no avail as their match against Ragama CC ended in a tame draw at Surrey Ground, Maggona.

Badureliya CC batted for as long as 160.5 overs, leaving Ragama CC only nine overs, during which time they lost three wickets for 37. Feature of the Badureliya CC innings were the double centuries scored by Manasa Madubashana (222 off 342 balls, 22 fours, 1 six) and skipper Hiruna Gallage (203* off 281 balls, 21 fours, 1 six), and their partnership of 295 for the sixth wicket.

Negombo CC and Kurunegala SC were involved in a high-scoring draw at Samadhi Grounds, Anuradhapura.

Captain Hansana Hiruna scored 106 off 201 balls (12 fours, 2 sixes) with half-centuries from Thathsara Eshan (72) and Kaveen Deneth (64). Kurunegala SC in reply scored 315-8 with Dinuga Abeysekera scoring 105 off 167 balls (12 fours, 1 six) and fifties from Ashan Shanilka (68) and Janith Ravishka (50).

In the matches that began yesterday, CCC and Leo CC made merry with the bat against Sebastianites and Moratuwa SC, respectively.

At BRC grounds, CCC, winning the toss and batting first, raced to 417-9 declared. Openers Sarith Sudeena (84 off 58 balls, 8 fours, 5 sixes) and Venura Vithanage (111 off 161 balls, 15 fours) gave them the base for their big total with a stand of 138. A further stand of 130 between Vithanage and Anjala Bandara (82 off 74 balls, 7 fours, 4 sixes) gave an additional uplift to the total. Former Jaffna Hindu College Captain Sutharshan Subarnan took 4/114 with his off-breaks. By stumps, Sebastianites were 33-1.

A workhorse-like century from opener Avintha de Alwis (119 off 220 balls, 8 fours) and a half-century from Salindu Pathirana (59 off 105 balls, 11 fours) saw Leo CC bat throughout the day to score 336-7 against Moratuwa SC at Air Force Grounds, Katunayake.

The Inland Revenue Department (IRD) has clarified how the prosecution provisions introduced under the Inland Revenue (Amendment) Act, No. 11 of 2026 will be enforced, stressing that criminal proceedings will be reserved for deliberate tax evaders and only after taxpayers are given an opportunity to regularise their affairs.

In a public notice, the IRD said prosecution will be treated as a measure of last resort. Taxpayers found to be non-compliant will first receive a formal written notice and be granted a mandatory 30-day period to fulfil their tax obligations before legal proceedings are initiated.

If the taxpayer fails to comply within that period, the offence may be prosecuted before a Magistrate’s Court, which may impose a fine of up to Rs. 400,000, imprisonment for up to six months, or both.

The department said the prosecution provisions apply to specified compliance failures under the amended law, including failing to register with the Commissioner General of Inland Revenue, failing to file income tax returns, and failing to submit required annual statements, including Withholding Tax and Advance Personal Income Tax (APIT) returns.

The IRD emphasised that the enforcement framework is intended to target individuals and businesses that intentionally evade tax by failing to register, neglecting to submit returns, or concealing taxable income despite having tax liabilities.

It stressed that the provisions are not aimed at taxpayers who cooperate with the Department or those who voluntarily rectify instances of non-compliance after receiving notice.

The Department also sought to allay concerns among individuals who hold Taxpayer Identification Numbers (TINs) but have no income tax liability, stating that they will not be subject to prosecution under the new provisions.

Taxpayers who have an income tax file but no longer have a tax liability may request their regional IRD office to close the file by submitting the required information, the notice added.

The Inland Revenue (Amendment) Act, No. 11 of 2026 came into force on 3 June, introducing prosecution provisions for specified tax compliance failures as part of broader efforts to strengthen tax administration and improve compliance.

The Court of Appeal has fixed 4 and 6 August to consider several intervening petitions filed in connection with a case brought by former State Intelligence Service (SIS) Director Suresh Sallay challenging his arrest and detention by the Criminal Investigation Department (CID).

Eight parties, including Venerable Bengamuwe Nalaka Thera and Archbishop of Colombo Malcolm Cardinal Ranjith, have submitted intervening petitions seeking permission to make submissions in the matter.

When the case was taken up last week, Court of Appeal President Judge Rohantha Abeysooriya said the intervening applications would be considered after the conclusion of submissions by President’s Counsel Sanjeewa Jayawardena, who appears for Sallay.

Following agreement from lawyers representing the intervening petitioners, the Court directed that the applications be taken up on 4 and 6 August.

Sri Lanka’s Acting High Commissioner Ruvini De Silva met the Kenya Airways Acting Group Managing Director and CEO George Kamal recently to discuss strengthening aviation connectivity and expanding bilateral cooperation between Sri Lanka and Kenya.

The discussions focused on promoting Sri Lanka Expo 2027, Sri Lanka’s premier international trade exhibition, scheduled to be held in Colombo from 14-17 January 2027.

In this regard, the Acting High Commissioner briefed the CEO on the two promotional briefing sessions that will be hosted by the High Commission in Nairobi on 25 September 2026 and Mombasa on 02 October 2026 to create awareness among the Kenyan business community and encourage participation in the Expo.

The Acting High Commissioner invited Kenya Airways to explore a strategic travel partnership for Sri Lanka Expo 2027, including the possibility of offering attractive travel packages and promotional fares for delegates travelling from Kenya and the wider East African region to Colombo.

The meeting also explored avenues for broader and long-term collaboration between Kenya Airways and Sri Lankan Airlines. Discussions covered potential partnerships in passenger and cargo operations, airline catering services, aviation medicine, technical cooperation, and knowledge sharing aimed at enhancing connectivity and supporting trade and tourism between the two countries.

Both sides further discussed the importance of strengthening the institutional framework governing air connectivity and exchanged views on the possibility of renewing the Air Services Agreement between Sri Lanka and Kenya to facilitate increased air services and deepen bilateral economic engagement.

CEO Kamal welcomed the initiatives of the High Commission and expressed Kenya Airways’ interest in exploring areas of mutual cooperation that would enhance connectivity and create greater value for both countries.

The meeting concluded with both parties reaffirming their commitment to maintaining close engagement and pursuing mutually beneficial partnerships to strengthen aviation, trade, tourism, and people-to-people links between Sri Lanka and Kenya.