Category: Daily Financial Times

The China Harbour Engineering Company (CHEC) recently commenced construction of Pentara Residencies by Home Lands Skyline, a premium twin-tower super high-rise residential development in Colombo 05, with a ceremonial groundbreaking.

The event brought together senior representatives of CHEC, Home Lands Skyline, project consultants, investors, and invited guests, reflecting the shared commitment behind one of Colombo’s notable upcoming residential developments. The occasion marked the formal transition of the project from planning and design to construction and implementation.

As the construction partner for the project, CHEC will bring its engineering strength, high-rise construction expertise, and large-scale project delivery capabilities to the development. CHEC’s role is central to the successful execution of Pentara Residencies, particularly given the technical scale of the project and its location within one of Colombo’s most connected urban areas.

Pentara Residencies by Home Lands Skyline is situated within Colombo’s core administrative and residential district, approximately 4 km from Colombo City Centre, 35 km from Bandaranaike International Airport, and 7.4 km from the Port of Colombo Container Terminal.

Pentara Residencies is a premium twin-tower residential development in Colombo 05, comprising 31 and 41-storey towers with a total gross floor area of approximately 87,000 square metres.

The construction commencement represents an important step forward for the project and highlights the collaboration between CHEC and Home Lands Skyline, together with the wider project team. It also reflects the confidence of stakeholders in delivering a high-quality residential development that will contribute to Colombo’s evolving urban landscape.

CHEC Managing Director Wang Gang said: ‘Pentara Residencies by Home Lands Skyline is an important high-rise residential development in Colombo, and CHEC is proud to serve as the construction partner for this project. A development of this scale requires strong engineering coordination, disciplined project management, and a clear commitment to quality and safety. Our partnership with Home Lands Skyline is built on a shared objective to deliver a project that meets high construction standards and creates long-term value for Colombo’s residential landscape.’

The commencement of construction is expected to support regional economic activity through industrial engagement, supplier participation, and employment generation. It is also expected to strengthen Colombo’s position as a modern urban centre by adding high-quality vertical living infrastructure to the city.

CHEC’s involvement further demonstrates its continued contribution to Sri Lanka’s construction and infrastructure sectors. With experience in delivering complex, large-scale developments, CHEC is well positioned to support the successful delivery of Pentara Residencies while upholding international construction standards, technical discipline, and project execution excellence.

The project reflects a shared vision between CHEC and Home Lands Skyline to contribute to the next phase of Colombo’s residential growth. Once completed, Pentara Residencies is expected to become a landmark residential development in Colombo 05, contributing to the area’s continued growth and the city’s evolving skyline.

The Ceylon Chamber of Commerce recently hosted a discussion titled ‘Energy Transition in Sri Lanka: Strategic Insights from Global Markets’, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.

Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.

The program covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernisation, investment, and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.

The discussion further highlighted the importance of aligning energy policy with broader economic development objectives, recognising that affordable, reliable, and sustainable energy is a critical enabler of competitiveness, industrial growth, and national resilience. Speakers at the discussion noted that as Sri Lanka scales renewable and storage capacity, clearly defined technical standards and frameworks will be essential to ensuring system reliability and investor confidence. The role of emerging technologies, technical standards, skills development, and industry-academia collaboration in supporting the next phase of Sri Lanka’s energy transition was also explored.

As Sri Lanka continues its efforts to build a more sustainable and secure energy future, forums of this nature provide an important opportunity for dialogue, knowledge sharing, and collaboration among stakeholders. Building on the discussions at this forum, the Ceylon Chamber of Commerce will continue working with industry and Government stakeholders to develop evidence-based policy recommendations, including technical and safety standards, supporting Sri Lanka’s energy transition. Through initiatives such as these, the Ceylon Chamber of Commerce remains committed to facilitating constructive engagement on issues of national importance and supporting the development of policies and partnerships that contribute to the country’s long-term economic progress.

Sri Lanka already one-nil down in the two-match Test series against West Indies were further hit with the non-availability of two key players Pathum Nissanka and fast bowler Lahiru Kumara for the second Test commencing at Antigua on Friday.

Nissanka has left the squad and travelled to London to undergo surgery on a long-standing wrist injury. He has already pulled out of the Lanka Premier League sixth edition which commences in the middle of this month.

Although Nissanka’s absence is looked as a major blow the 27-year-old prolific opener has not been in the best of form in the Caribbean being dismissed for scores of 2 and 3 in the first Test which Sri Lanka lost by an innings inside four days.

Kumara has been a big disappointment for Sri Lanka. The injury prone fast bowler broke down in the middle of the first Test with a hamstring injury after bowling just one over, leaving the bowling attack short of one specialist bowler. West Indies seized the opportunity to pile up a massive 626-9 declared and defeat Sri Lanka by a huge margin of an innings and 217 runs.

A media release from Sri Lanka Cricket stated that ‘Lahiru Kumara felt a tightness in his right hamstring while running in to bowl the second over in the first Test match and he was immediately assessed by the team physiotherapist, following which it was decided that he undergo an MRI scan’.

With Nissanka ruled out Lahiru Udara who has been named as third opener is likely to fill in the slot and open the batting Nishan Madushka. Uncapped Isitha Wijesundara is a strong contender for Kumara’s spot.

Sri Lanka went into the first Test with a four-prong fast bowling attack, leaving out their prime spinner Prabath Jayasuriya. Depending on the surface they will get for the second Test Jayasuriya may be recalled to the eleven. In the absence of a specialist spinner, all-rounder Sonal Dinusha was called upon to bowl a marathon 56 overs, the most by a Sri Lankan bowler in the West Indies innings. – [ST]

Tokyo Cement hosted ‘Build Beyond 2026 Summit’, a premier knowledge-sharing conference that brought together leading academics, civil and structural engineering experts and professionals of the Sri Lankan construction industry. The event featured keynote addresses by renowned construction technology specialists, Professor Shashank Bishnoi from the Indian Institute of Technology (IIT) Delhi-Abu Dhabi, and Senior Professor Priyan Mendis from the University of Melbourne.

The summit marked the second edition of the Build Beyond Engineering Technology Summit organised by the Tokyo Cement Group, designed to foster collaboration between academia and industry while highlighting global trends, innovations, and emerging technologies in cement and concrete. This year’s discussions focused on advancements in material science that are driving more sustainable and cost-efficient construction practices.

The event drew participation from State-sector authorities, research institutions, academia, engineering students, and public and private sector organisations, creating a dynamic platform for engagement across the construction industry. A key feature of the summit was a high-level panel discussion on ‘Building a Resilient and Sustainable Construction Future,’ featuring several distinguished industry leaders.

The panel included Chamber of Construction Industry Sri Lanka (CCI) Secretary General/CEO, Civil and Structural Engineering Consultants Ltd., Founder and Deputy Chairman Eng. Nissanka Wijerathne;, CTBUH Sri Lanka Chairman and Green Building Council Sri Lanka Vice President, General Sir John Kotelawala Defense University Adjunct Senior Lecturer and University of Moratuwa Visiting Lecturer Eng. Shiromal Fernando; Society of Structural Engineers Sri Lanka (SSE-SL) Fellow and Past President and Association of Consulting Engineers Sri Lanka Council Member Eng. Ananda Senarath; and Ceylon Institute of Builders (CIOB) and the South Asian Lean Construction Association President Dr. Rohan Karunaratne. The session was moderated by University of Peradeniya Faculty of Engineering Head of the Department of Civil Engineering Professor Kushan Wijesundara.

Professor Shashank Bishnoi, from the Department of Civil Engineering – IIT Delhi, and IIT Delhi-Abu Dhabi Vice Provost, delivered two keynote presentations on low-carbon construction technologies. His first session, ‘Development and Use of Low Carbon Cements,’ explored his work on Limestone Calcined Clay Cement (LC3) and the development of the LC3 standard adopted by the Bureau of Indian Standards. His second presentation, ‘Design and Application of Low Carbon Concretes,’ addressed sustainable concrete solutions in relation to the Sri Lankan construction sector.

Senior Professor Priyan Mendis of the University of Melbourne delivered his keynote on ‘Net Zero: Materials to Novel Structural Applications.’ He highlighted the role of high-performance concrete in improving durability, strength, and resistance to environmental stress in modern high-rise and large-scale structures. Drawing from international case studies, and his experience in serving several Australian and international standards committees related to concrete structures and structural loading, Professor Mendis shared insights from his involvement in the construction of iconic projects including the Burj Khalifa, Merdeka 118, Eureka Tower, and the Lotus Tower.

Representing the Tokyo Cement Group Director – R and D Dr. M.G.M.U. Ismail, and Director – Innovations Praveen Gnanam presented the company’s latest advancements in cement and concrete technologies, reinforcing its focus on sustainable and innovative construction solutions.

The summit reaffirmed Tokyo Cement Group’s commitment to strengthening the local construction industry through world-class knowledge-sharing initiatives and access to global expertise. As Sri Lanka’s largest manufacturer of cement, concrete, and cement-based innovative products, Tokyo Cement Group, has cemented its position as the leading partner in Nation-building with an unwavering focus on quality, innovation, and sustainability.

Deshani Bandara produced one of the standout performances at the Ceylon Masters International Badminton Championships 2026, winning three titles at the tournament held at the Air Sports Complex in Rajagiriya.

Bandara first partnered Asangi Kodituwakku to secure the Women’s Doubles Over-40 crown, defeating the Sri Lanka-India combination of Avrille De Zoysa and Sharmila Srikumar in straight games, 21-12, 21-14.

She then teamed up with Upendra Jayawardane to win the Mixed Doubles Over-90 Combined Age title after recovering from a game down to beat India’s Veeraswamy Narra and Anjali Lotke 18-21, 21-14, 21-12 in an entertaining three-game final.

Bandara completed a remarkable hat-trick of titles alongside former Sri Lanka No.1 and Olympian Niluka Karunaratne in the Mixed Doubles Over-35 final. The top-seeded pair edged Hasitha Chanaka and Nadeesha Gayanthi 21-18, 22-20 in a closely contested championship match.

Bandara emerged as one of the stars of the championships with her versatility and consistency across multiple disciplines. Players from 12 countries competed in the tournament, making her triple-title achievement even more impressive against a strong international field.

The Colombo stock market yesterday closed in red on profit taking and heavy foreign selling, extending its bearish run for the third consecutive day.

The ASPI was down 0.10% or 21.79 points at 22,221.91 as counters that ended in red outnumbered gainers 136 to 74, and the S and P SL20 was down 0.03%, or 1.97 points at 6,204.54.

Market turnover was over Rs. 1.5 billion on over 47 million shares traded. Foreign investors were net sellers on a heavy net outflow of Rs. 774.2 million.

The top contributors to the ASPI decline were SPEN, SAMP, DFCC, CTC and CINS with positive contributions coming from CARG, DIAL, JKH, MELS and PLC.

First Capital Research said after a positive start, the market reversed course as profit-taking emerged during the latter half of the session, while significant foreign selling through large, negotiated crossings, particularly in HHL and WIND, weighed on sentiment. Both HNW and retail participation remained low.

The capital goods sector led the daily turnover with a share of 55%, followed by the banking, and food beverage and tobacco sectors collectively contributing 15%.

Sahan Arachchige played a captain’s innings of 83* off 148 balls (9 fours, 1 six) to hold the Sri Lanka ‘A’ first innings together and help them end the first day of the second 4-day unofficial test against India ‘A’ on 288-5 at the Galle International Cricket Stadium yesterday.

Invited to bat first Sri Lanka ‘A’ were helped by contributions from all their top order batsmen but none went onto convert their starts into a big innings apart from the captain. Openers Pawantha Weerasinghe (39) and Sohan de Livera (28) put on 53 followed by 44 from Nuwanidu Fernando and 34 from Ashen Bandara. Arachchige was joined by Anjala Bandara (42) in a partnership which realized 99 for the fifth wicket.

India ‘A’ bowlers maintained a steady line and length especially off-spinner Saransh Jain and seamer Yash Thakur who were the most successful bowlers with two wickets apiece. The match continues in its second day today. – [ST]

Scores:

Sri Lanka ‘A’ 288-5 at close (Pawantha Weerasinghe 39, Sohan de Livera 28, Nuwanidu Fernando 44, Ashen Bandara 34, Sahan Arachchige 83*, Anjala Bandara 42, Saransh Jain 2/77, Yash Thakur 2/32) v India ‘A’

President Anura Kumara Dissanayake yesterday directed all State institutions to work under a unified national plan to eradicate the drug menace, stressing that coordinated action is essential to combat narcotics trafficking, addiction and its social consequences.

Speaking at the meeting of the ‘A Nation United’ National Steering Council for the Eradication of the Drug Menace at the Presidential Secretariat, attended by the Maha Sangha of the three Nikayas and other religious leaders, the President instructed officials to submit a comprehensive progress report at the next meeting detailing each institution’s responsibilities, achievements and programs under the national strategy.

The meeting heard that around 70% of Sri Lanka’s prison population comprises drug-dependent offenders, prompting discussions on rehabilitation measures to address both addiction and chronic prison overcrowding.

The President also sought updates on efforts to prevent drug use among schoolchildren, noting that 225 awareness programs have already been conducted for teachers and students. He directed the Education Ministry to lead a multi-agency committee under a common national plan to eliminate drugs from schools and approved plans to engage private and international schools in the prevention campaign.

The Council also reviewed progress on new legislation to enable the speedy destruction of seized narcotics, the introduction of an automated Court exhibit management system, decentralisation of laboratory facilities to reduce delays in forensic analysis, and the finalisation of legislation on the rehabilitation of drug-dependent persons, which will be gazetted shortly.

Discussions further covered introducing pharmacy-based drug testing kits for parents, strengthening the Police Narcotics Bureau and the Department of the Government Analyst, adopting modern technology for forensic reporting, and tightening laws on dangerous drugs.

The President also called for a systematic national reporting mechanism on seized narcotics and Court exhibits, while authorities outlined a joint operational plan by the Navy, Police and intelligence agencies to curb maritime drug smuggling.

The discussions included proposed legal amendments to strengthen action against drug trafficking by sea, including enhanced powers to confiscate vehicles and multi-day fishing vessels used in narcotics operations.

Among those in attendance were the Maha Sangha led by the Most Ven. Niyangoda Vijithasiri Thera Anunayake of the Malwathu Chapter, the Most Ven. Narampanawe Ananda Thera Anunayake of the Asgiri Chapter, the Most Ven. Waleboda Gunasiri Thera Anunayake of the Ramanna Maha Nikaya and the Most Ven. Kuppiyawatte Bodhananda Thera. Religious leaders including Fr. Jude Bernard, Fr. Nishantha Fernando, Sri Velu Suresh Sharma Kurukkal, Muthusamy Alagesan Kurukkal and Sheikh Mohammed Arkam Nooramith Mawlavi also participated.

Others present included Public Security and Parliamentary Affairs Minister Ananda Wijepala, Secretary to the President Dr. Nandika Sanath Kumanayake; Defence Secretary Air Vice Marshal (Retd.) Sampath Thuyacontha, Justice and National Integration Ministry Secretary Ayesha Jinasena, Ministry Secretaries and officials; Inspector General of Police Priyantha Weerasooriya; and senior members of the security forces.

The Indian national men’s team will tour Sri Lanka in August to play a two-match Test series which is part of the ICC World Test Championship 2025-2027 cycle.

The first Test will be played at the Galle International Cricket Stadium (GICS), Galle and the second Test at the Singhalese Sports Club (SSC), Colombo.

As earlier planned India will not stay back to play a series of T20I matches because of their tight international schedule.

Schedule

15-19 August: First Test Match at GICS, Galle

23-27 August: Second Test Match at SSC, Colombo

People’s Bank commemorated its 65th anniversary on 1 July with a special event held at People’s Tower, Colombo 02.

The program included the ceremonial chanting of Seth Pirith and multi-religious observances. These ceremonies were conducted with the intention of invoking blessings upon the country, its people, the Bank’s valued customers, and its founders.

The gathering was addressed by People’s Bank Chairman Prof. Narada Fernando, and the Chief Executive Officer/General Manager, Clive Fonseka. Coinciding with its 65th Anniversary celebrations, People’s Bank also launched the latest edition of the Economic Review magazine under the theme, ‘Sri Lanka’s Export Renaissance: Diversification, Innovation and Global Competitiveness’.

People’s Bank Directors Chandana Guniyangoda and Dr. Gishan Illangakoon, members of the Corporate and Executive Management, and staff members were also present at the occasion.

As one of Sri Lanka’s leading licensed commercial banks, People’s Bank continues to drive innovation and customer-centric banking while maintaining the country’s largest banking network. With assets exceeding Rs. 3.7 t and a customer base of over 15.2 m, the Bank remains committed to supporting the nation’s economic progress and empowering generations of Sri Lankans through accessible and innovative financial solutions.