Category: Daily Financial Times

Perituza Software Solutions, a Texas-based consultancy specialising in custom AI and software development, has announced the launch of its AI Assessment Services in Sri Lanka.

The offering introduces a globally tested framework developed through engagements with mid-market and large-scale enterprises in the United States, now adapted to support Sri Lankan companies in adopting AI with clarity, structure, and measurable business outcomes.

As organisations across industries increasingly explore automation to scale operations without increasing overheads, many continue to face a fundamental challenge in identifying where AI can deliver meaningful return on investment. Perituza’s AI Assessment Services are designed to address this gap by conducting a comprehensive evaluation of a company’s operational workflows, technical infrastructure, data maturity, and organisational readiness, translating insights into a clear and actionable roadmap.

The assessment framework focuses on aligning business strategy with operational impact and commercial viability, enabling organisations to prioritise high-value use cases and move beyond experimentation towards implementation. The same framework, delivery standards, and consulting methodology applied in the United States will be used in Sri Lanka, ensuring that local enterprises benefit from global best practices while addressing market-specific realities.

The services are designed to support a broad range of industries, including energy, logistics and supply chain, and construction, as well as core business functions such as financial operations, sales, and customer service. This ensures that organisations can identify opportunities that are both industry-relevant and operationally impactful, allowing for more precise and effective AI adoption.

In addition to AI assessment and strategy development, Perituza supports organisations through end-to-end execution, including team augmentation services that provide access to specialised engineering talent. This integrated approach enables companies to move from strategy to implementation with continuity and speed, reducing the disconnect that often exists between planning and execution. The launch comes at a critical time as Sri Lanka continues to strengthen its position as a hub for high-value services.

Many AI initiatives fail due to gaps in planning, data readiness, or internal alignment. By introducing a structured and commercially grounded approach, Perituza aims to reduce these risks and support organisations in building sustainable, outcome-driven digital transformation journeys.

Perituza Co-Founder and General Manager APAC Operations Yuka LaTulippe said: ‘Too many companies are being told to adopt AI without being shown how it actually creates value. What we do is bring clarity. We help organisations cut through the noise, focus on what truly matters, and build a path to AI that delivers real, measurable impact.’

Founded in 2013, Perituza is a Houston, Texas-based AI and software development firm focused on solving complex business challenges through high-impact digital solutions. With a growing presence in Sri Lanka, the company combines global expertise with local delivery to support organisations in building scalable, ROI-driven technology capabilities.

The National Trade Facilitation Forum (NTFF), representing stakeholders across Sri Lanka’s maritime, shipping and logistics trade, has appealed to Sri Lanka Customs Director General for the consideration and review of the new Customs ICT Fee applicable to DGMS-registered Sea Cargo Manifest Reporting Users under Gazette Extraordinary No. 2493/02, effective 1 July 2026, together with the existing manifest amendment penalty framework under Section 29 of the Customs Ordinance.

Industry cost burden and its link to State revenue

NTFF said manifest reporting is a private-sector function performed in the public interest: accurate advance manifest data is the primary input Customs uses for revenue protection, risk targeting, and detection of misdeclaration before cargo lands. The 833 DGMS-registered reporters carrying this function are not incidental intermediaries, they are the first-line data source underpinning Customs’ own revenue and risk systems. Therefore, we respectfully submit that an increase of this scale, implemented within a short timeframe, warrants further consideration given its potential impact on landed import costs and export competitiveness across the wider economy.

The quantified increase

The DGMS annual licence fee to operate as a Service Provider is Rs. 12,000/year. To report manifests, users must now additionally pay a new recurring ICT Fee of Rs. 5,000/month (Rs. 60,000/year) a six-fold increase in fixed annual cost per provider. Applied across all 833 registered reporters, this moves the sector’s total fixed annual compliance cost from approximately Rs. 10 million to approximately Rs. 60 million, an increase of roughly Rs. 50 million per annum, imposed with immediate effect and no transition period.

A mandatory statutory charge with no mechanism for cost recovery

The ASYHUB platform is a mandatory statutory reporting mechanism, rather than a discretionary commercial service. Sea-cargo manifest reporting arises under the Customs Ordinance (Chapter 235) and the applicable Electronic Cargo Manifest reporting framework, and is a necessary prerequisite to the subsequent Customs declaration and clearance process. It therefore constitutes a compulsory regulatory function for which users have no alternative service provider. Critically, without a valid Customs receipt for the ICT fee, service providers cannot legitimately recover the charge as a disbursement, leaving it as a non-recoverable regulatory overhead borne by the reporting entity.

Proposed alternative: A per-manifest charge

NTFF has requested that Customs consider restructuring this charge on a per-manifest/per-transaction basis rather than a flat recurring fee. A transaction-linked charge would scale fairly with actual usage, would be inherently receiptable and billable back against the specific shipment it relates to, and would directly reflect the value each manifest submission delivers as an input to Customs’ revenue collection and risk management functions, rather than falling as a fixed cost regardless of volume.

The unresolved manifest amendment penalty

This compounds a longstanding, unresolved issue. Sri Lanka Customs’ own 2013 letter to CASA prescribed penalties of up to Rs. 100,000 per manifest amendment. In 2018, CASA, SLFFA, SLANA and CEYFFA jointly proposed a more proportionate framework, with a maximum penalty of Rs. 25,000 for major post-registration amendments. SLFFA reiterated this request in 2021, noting that excessive penalties could encourage manipulation detrimental to Government revenue integrity and legitimate trade. With manifest reporters now required to bear the additional recurring ICT Fee, we respectfully submit that the case for adopting the 2018 industry proposal is stronger than ever, providing a fairer and more proportionate amendment framework while encouraging accurate and transparent manifest reporting.

NTFF has requested the following:

Reconsider the ICT Fee structure, moving from a flat recurring charge to a per-manifest/per-transaction basis;

Issue an official receipt for any such charge, to enable legitimate cost recovery from shippers/consignees;

Adopt, with immediate effect, the 2018 joint-association proposal to reduce manifest amendment penalties from the 2013 scale;

Consult the NTFF and trade associations before further changes of comparable scale.

NTFF said it fully supports Customs’ objective of maintaining secure and efficient digital systems and respectfully seek a fair, transparent and proportionate funding mechanism. Consistent with WTO TFA Article 6.2, fees for Customs processing should be limited to the approximate cost of the services rendered, while Article 6.1 calls for transparency and periodic review of fees and charges. The WCO RKC reflects the same cost-of-service principle for specified Customs services. We therefore respectfully request that the ICT Fee be reviewed to ensure it is cost-reflective, transparent and practically recoverable, and would welcome direct consultation with Customs on an equitable way forward, NTFF added.

Commercial Bank of Ceylon PLC has appointed Shashi Kandambi to its Board as an Independent, Non-Executive Director.

Shashi Kandambi is an accomplished banking and financial services leader with over 37 years of extensive experience in banking, financial management, corporate leadership and strategic transformation.

Her career encompasses senior executive and CEO-level responsibilities, with particular expertise in corporate governance, risk oversight, financial strategy, regulatory engagement, digital transformation and stakeholder management.

She served as the General Manager/Chief Executive Director of National Savings Bank (NSB) from January 2024 to January 2026, where she provided strategic leadership during a significant period of institutional transformation. Her tenure focused on strengthening NSB’s financial position, enhancing risk and governance frameworks, improving operational efficiency, advancing digital capabilities and developing institutional capacity.

She also represented NSB at prestigious international forums, including the World Savings and Retail Banking Institute (WSBI) Centenary Conference, SIBOS and the Asian SWIFT Forum, enhancing NSB’s international profile.

Previously, Kandambi held the position of Senior Deputy General Manager and several other senior leadership positions at Sampath Bank PLC, where she provided leadership across Corporate Banking, International Banking, Corporate Credit, Digitalisation, Treasury, Corporate Finance, Offshore Banking, Legal and Recoveries. She has extensive experience in strategic planning, financial resource management, credit and risk oversight, business development, international trade and regulatory matters.

During her career, she has demonstrated particular strength in leading organisations through periods of change and complexity, including the COVID-19 pandemic, where she was involved in ensuring business continuity, liquidity management, digital enablement and the implementation of regulatory relief measures.

Kandambi holds an MBA from the Postgraduate Institute of Management (PIM) of the University of Sri Jayewardenepura, a Postgraduate Diploma in Business and Finance from the Institute of Chartered Accountants of Sri Lanka, and a Diploma in Banking from the Institute of Bankers of Sri Lanka (IBSL). She is a Senior Fellow of the IBSL and holds a Board Leadership Director Certification from the Sri Lanka Institute of Directors (SLID). Her executive education includes programmes at Harvard Business School and the University of Sussex.

She has contributed significantly to the banking profession, including serving as the President of the Association of Professional Bankers Sri Lanka and through various professional, academic and advisory roles.

Throughout her banking career, Kandambi has held a number of significant board, governance and industry leadership positions, reflecting her extensive experience in the financial services sector. She is also a Member of the Sri Lanka Bankers’ Association (SLBA), the Institute of Bankers of Sri Lanka (IBSL), the Lanka Financial Services Bureau and the NSB Fund Management Company. Kandambi has also served as the Chairperson of the SWIFT User Group Sri Lanka and Financial Ombudsman Sri Lanka.

These memberships and appointments have provided her with broad exposure to industry governance, financial-sector policy, regulatory and institutional matters, stakeholder engagement and the development of the banking and financial services sector.

Her professional recognition includes the ‘Gold Medal – Top 50 Career and Professional Women 2017’, awarded by Women in Management in partnership with IFC, and the ‘Business Leader of the Year 2025’ awarded by AICPA and CIMA (CIMA-JXG Pinnacle Award).

Currently a financial consultant, Kandambi brings to board and advisory roles a combination of extensive financial-sector expertise, strategic leadership, governance experience, regulatory understanding and a strong commitment to sustainable value creation.

Sri Lanka began their Women’s Asia Cup campaign in emphatic fashion, cruising to a nine-wicket win over the UAE after bowling them out for just 79 at the Dubai International Cricket Stadium on Saturday.

Mithali Ayodhya and Chethana Vimukthi led the way with three wickets apiece, while Sugandika Kumari took two, before Chamari Athapaththu’s unbeaten 48 off 25 balls and Imesha Dulani’s 25 off 18 powered the defending champions to the target in just 7.5 overs. The victory, completed with 73 balls to spare, was Sri Lanka’s biggest in T20Is in terms of balls remaining.

Sri Lanka made an ideal start after opting to bowl, with Mithali Ayodhya striking in the fourth ball of the innings to bowl Theertha Satish for a duck. Chethana Vimukthi then joined in, bowling a disciplined spell and removing Lavanya Keny in the fourth over to leave UAE at 8-2. Esha Oza and Heena Hotchandani tried to rebuild, but scoring remained difficult, with Sri Lanka’s bowlers giving little away. UAE reached only 16-2 at the end of the Powerplay.

By the halfway stage, UAE had crawled to 31-3, having played out 37 dot balls. Hotchandani fell for 10 off 18 to Chamari Athapaththu soon after, and although Rinitha Rajith provided some impetus with 15 off 16, wickets kept falling around her. Samaira Dharnidharka made 17 off 25 before Kavisha Dilhari had her caught and bowled in the 15th over, and Rajith followed in the 19th over. Ayodhya then returned to remove the final two batters, bowling UAE out for under 80.

In contrast to the first innings, Sri Lanka made a flying start to the chase, with Dulani and Athapaththu dealing in regular boundaries. Dulani was particularly fluent, striking five fours in her 18-ball 25, while Athapaththu became the first to reach 500 runs in Women’s Asia Cups, with a six off Esha Oza in the fourth over.

The pair raised a half-century stand inside the Powerplay before Dulani was run out for 25 when a drive from Athapaththu ricocheted off the bowler and hit the stumps at the non-striker’s end. Athapaththu, though, continued the assault with Sanjana Kavindi for company. Having struck two boundaries off Athige Silva, she hit a six off Oza before finishing off the chase with a couple as Sri Lanka began their Asia Cup campaign with a facile win.

Chetana Vimukthi made it a memorable WT20I debut by taking the Player of the Match award for her performance of 3/16.

Scores:

UAE 79 (19.5) (Esha Oza 18, Mithali Ayodhya 3/14, Chethana Vimukthi 3/16, Sugandika Kumari 2/18) lost to Sri Lanka 80-1 (7.5) (Chamari Athapaththu 48*, Imesha Dulani 25)

The Sri Lanka Badminton (SLB), in association with the Eastern Province Badminton Association (EPBA), has announced the EPBA All Island Open Badminton Championships 2026.

As a National Ranking Level 1 Tournament, this event serves as a critical competitive platform for top-tier players and emerging badminton talent across Sri Lanka to earn official national ranking points.

The tournament will be held from 22 to 27 September 2026 at the Mc Heyzer Indoor Stadium, Trincomalee.

The sponsors are Li-Ning, Hundred, Mobil 1, 3M, McLarens Group, Elite Shuttler and Spartan Rise Badminton Academy.

Those interested can contact Tournament Director Aliyar Faizer (077 607 8706);

Deputy Tournament Director S. Stanly Prashanth (077 360 5967), S. Mugunthan (0779336747) and K. Subaraj (0763746407).

New Chinese Ambassador to Sri Lanka Wei Huaxiang last week assumed office, replacing outgoing Ambassador Qi Zhenhong.

Wei presented his credentials to President Anura Kumara Dissanayake.

‘Now it’s time to get to work,’ said the new Ambassador in a message on the Embassy’s Facebook.

Following the presentation of his credentials, the Ambassador paid a courtesy call on Foreign Minister Vijitha Herath who said ‘discussions focused on the longstanding friendship between our two countries and means of further strengthening bilateral relations across a multitude of areas. I wished Ambassador Wei a successful tenure in Sri Lanka.’

Wei’s background heavily emphasises economic administration, political economy, and trade regulations. He was the Consul General in Ho Chi Minh City, Vietnam (2022-2025). He served as Beijing’s top envoy to southern Vietnam, handling extensive trade, investment, and bilateral economic portfolios between Chinese institutions and Vietnamese commercial hubs.

He served within the Foreign Affairs Ministry as an official handling critical regional engagements, including major cross-border economic projects like the Mes Aynak copper initiative.

He rose through senior departmental positions in China’s Ministry of Commerce, specialising in global economic policy, market order regulation, and international trade barriers. He also served as a senior administrative official in the Provincial Government of Shandong, directly coordinating regional commerce, development strategies, and international cooperation platforms.

Earlier in his career, Wei focused on digital trade infrastructure and economic regulation.

He completed his doctoral studies in 2004 at the prestigious Graduate School of the Central Party School. He has published academic works covering China’s integration into the World Trade Organisation (WTO), multinational corporate governance, and balance-of-payments policies.

THe Valikamam South Pradeshiya Sabha last week laid the foundation stone for a new Rs.330 million indoor sports complex, with ITAK Parliamentary Group Leader Shanakiyan Rasamanickam citing the project as an example of local institutions delivering development based on community priorities.

Funded by the Pradeshiya Sabha and built on land belonging to it, the complex is expected to provide modern facilities for youth, athletes and the wider community and strengthen sports infrastructure in the Jaffna District.

The foundation stone-laying ceremony was held under the leadership of Valikamam South Pradeshiya Sabha Chairman T. Prakash, with ITAK President C.V.K. Sivagnanam, General Secretary M.A. Sumanthiran, Rasamanickam and other local representatives and officials participating.

Rasamanickam said the Government had previously proposed an indoor stadium in Jaffna costing about Rs.170 million at the historic Jaffna Old Park complex. The project was halted by an interim order of the Jaffna High Court following a petition challenging the proposed location.

He said the Rs.330 million project showed that an alternative site could be identified when a proposed location faced legal or other legitimate issues, rather than abandoning development.

‘This is precisely why we need meaningful devolution. If Provincial Councils are allowed to function properly and are given real powers and adequate resources, we can develop our own areas according to the needs and priorities of our own people,’ Rasamanickam said.

He also called for a dedicated maintenance fund for the complex to cover electricity, lighting replacement, repairs and other recurrent expenses, arguing that the Rs.330 million public investment needed to be protected over the long term.

Rasamanickam urged contractors to adhere to the approved design and required construction standards, while stressing that infrastructure development should respect the law, historic sites and existing plans for public spaces.

Eppawala Lanka Phosphate Company has expanded its production capacity with new vehicles and machinery valued at Rs. 110 million.

The second programme of the ‘Sarasavi Dhiriya Abhiman’ scholarship initiative for university students with disabilities was held recently at the Jaffna District Secretariat under the patronage of Prime Minister Dr. Harini Amarasuriya.

The Port of Colombo has risen to 20th place among the world’s major container ports, recording an 11.9% year-on-year increase in container handling during the first half of 2026, according to Alphaliner figures.