Category: Daily Financial Times

In the wake of continuing operational and financial shortcomings, the Government has decided to appoint a high-level committee to review the beleaguered SriLankan Airlines (SLA) and direct its restructuring. The Commission is headed by Presidential Advisor Dr. Hans Wijesuriya, and the other prominent members include Ernst and Young Country Managing Partner cum close presidential aide, Duminda Hulangamuwa, and economist Deshal de Mel as well as investment banker Dumith Fernando. According to the cabinet paper submitted by President Anura Kumara Dissanayake, evaluating strategic options, engaging with investors, and overseeing implementation of future strategies are among the committee’s key duties.

Successive administrations have made numerous efforts to heal the wounds of the national airline, however, the sordid state of the state-owned airline has remained the same, while citizens of the republic continuously bailout the financially stressed entity from their tax monies. Appointing committees to evaluate what is wrong with the national carrier and obtain recommendations is nothing new.

During the latter stages of the so-called Yahapalana administration, a committee headed by the then State Minister of Finance and Planning Eran Wickremaratne was given the task of proposing suggestions to improve the service of the airline, but none of the recommendations could be implemented as the Sirisena Government was replaced by Gotabaya Rajapaksa presidency – which was characterised by everything that is wrong in terms of economic policies – a few months later. Again, during the presidency of Ranil Wickremesinghe, the State-Owned Enterprises Restructuring Unit – which was headed by former Lion Brewery CEO Suresh Shah – seriously considered divesting the airline, but no foreign or local entity was willing.

Once more, we are going to witness another restructuring committee. More often than not, such commissions serve as cosmetic exercises to appease public sentiments without addressing root causes or delivering tangible outcomes.

The Government has not been able to find a CEO for over 12 months for the national carrier, causing lack of direction at a time when the aviation industry worldwide is facing numerous challenges due to the turbulence in the Middle East.

The financial condition of the SLA is deteriorating continuously. For the financial year 2025, the crisis-ridden firm suffered a massive loss of Rs. 23.2 billion. Its total liabilities and negative equity were Rs. 544.4 billion and Rs. 340 billion respectively at the end of the reporting period. Despite such mounting losses, the airline had requested further Rs. 100 billion from the Treasury.

Appointments to the top by successive regimes have failed to uplift the airline sustainably. The composition of the latest restructuring Committee can be commended but whether it can navigate the national carrier laden with debt and losses successfully or not only time will tell amidst longstanding calls for divestiture or winding up of SriLankan Airlines.

Home Lands Group yesterday announced that it has selected China Harbour Engineering Company (CHEC) for the construction of its flagship development in Colombo, Pentara Residencies, Thummulla Handiya.

The agreement was signed by Home Lands Group Chairman Nalin Herath and CHEC South Asia and South East Asia Managing Director Wang Gang, in the presence of CHEC Chairman Bai Yinzhan.

CHEC is a major international contractor and developer distinguished for delivering large-scale infrastructure and real estate projects around the world.

The partnership reaffirms Home Lands’ commitment to ensuring its projects are built to the highest international standards through strategic collaborations with globally respected industry leaders. As one of the world’s leading engineering and construction companies, CHEC brings decades of international expertise, advanced construction capabilities, and an impressive portfolio of landmark projects spanning Asia, Africa, Europe, and the Middle East. Its involvement in transformational developments such as ports, highways, bridges, commercial districts, integrated urban developments, and large-scale reclamation projects, has earned the company a reputation for quality, scale, engineering excellence, and timely project delivery. Most notably in Sri Lanka, CHEC has played a pivotal role in the development of Port City Colombo, one of the most ambitious urban development projects in South Asia.

For Home Lands, the decision to partner with CHEC reflects a shared commitment to delivering projects that meet the highest international standards. Pentara Residencies has been envisioned as a landmark development that combines contemporary architecture, exceptional quality, and a highly sought-after location at Thummulla Handiya. To bring this vision to life, Home Lands sought a construction partner capable of executing a project of this scale and significance with precision, efficiency, and uncompromising attention to quality.

The partnership is further strengthened by the natural alignment between the two organisations. Both Home Lands and CHEC have played influential roles in shaping Sri Lanka’s evolving urban landscape through transformative developments that contribute to the country’s growth and modernisation. While Home Lands has built its reputation through the successful delivery of thousands of residential units and innovative real estate projects across the island, CHEC has become synonymous with some of Sri Lanka’s most ambitious infrastructure and development initiatives.

CHEC’s appointment as the main contractor for Pentara Residencies provides investors and future homeowners with added confidence in the project’s delivery and construction quality. Renowned for its international expertise, advanced engineering capabilities, and adoption of the latest construction technologies and methodologies, CHEC brings a level of technical excellence that aligns perfectly with Home Lands’ vision for the project. The company’s proven track record in managing large-scale developments, coupled with its commitment to quality and efficiency, will help ensure that Pentara Residencies is delivered to the highest standards of construction and craftsmanship.

Beyond construction excellence, the collaboration reflects Home Lands’ broader vision of continuously raising the bar for the real estate industry. By partnering with internationally recognised organisations that possess world-class expertise, cutting-edge technology, and extensive global experience, Home Lands continues to reinforce its commitment to delivering projects built to international standards.

As Pentara Residencies moves into its next phase of development, the partnership between Home Lands and CHEC represents more than a construction agreement; it is a strategic alliance built on shared values of quality, innovation, and excellence. Together, the two organisations are poised to deliver a landmark development built to world-class standards, further strengthening Home Lands’ reputation for creating exceptional living spaces while contributing to the ongoing transformation of Sri Lanka’s urban landscape.

Sri Lanka is suffering from macro-economic myopia. Our national discourse has become so obsessed with the next IMF review, the next tax bracket, and the next debt-restructuring milestone that we seem to have mistaken survival for success. Securing macroeconomic stability is a historic necessity, but a nation cannot live indefinitely in crisis-management mood.

After years of painful adjustment and recovery, Sri Lanka stands at a critical juncture. While the immediate threat of economic collapse has diminished, the task of consolidating recent gains and building a competitive, productive, and resilient economy still lies ahead. Perhaps the more important question is not whether Sri Lanka will require an eighteenth IMF programme, but whether the macroeconomic gains over the last few years can be translated into a more productive and prosperous economy.

The IMF can help Sri Lanka avoid default, restore confidence, and buy valuable time. What it cannot do is create prosperity.

Trap of confusing stabilisation with growth

We must not confuse stabilisation with development. One is a liquidity fix; the other is a structural evolution. Fiscal consolidation, revenue mobilisation, prudent monetary policy, and debt restructuring have successfully helped stabilise the economy and restore market confidence. However, stability alone does not solve a solvency problem.

Sustainable debt reduction requires stronger exports, services, and foreign direct investment that generate non-debt foreign exchange earnings. Even if we flawlessly navigate the 2028 repayment cycle, balancing the State’s ledger through aggressive taxation and expenditure cuts alone is a math exercise, not an economic strategy. A stable ledger on a dying economy is a hollow victory.

This highlights a reality often overlooked in our economic debate: Sri Lanka faces two interconnected challenges operating on different timelines: an immediate liquidity challenge and a longer-term economic development challenge. The difficulty is compounded by the fact that the policies required to address them do not always align.

Measures that strengthen liquidity and stability in the short term can at times constrain investment and growth. Conversely, long-term development requires sustained investment in infrastructure, human capital, innovation, and productive capacity, with benefits that may take years to materialise. We cannot permanently escape a debt trap through borrowing or expenditure restraint alone. Debt sustainability ultimately depends on building a larger, more productive, and internationally competitive economy.

Therefore, Sri Lanka requires a genuine two-track strategy: managing liquidity in the short term while building the foundations for long-term economic development. Ultimately, economic policy must deliver both solvency for the State and prosperity for its people.

Crossing 2028: Constructing the financial runway

The immediate challenge is to construct a financial bridge capable of carrying the economy through the critical period leading up to and beyond 2028. This bridge will depend on a combination of IMF credibility, multilateral financing, bilateral partnerships, eventual re-entry into international capital markets, and potentially a precautionary IMF arrangement, such as a Stand-By Arrangement (SBA), should external conditions warrant it.

While IMF financing is important, its greater value lies in providing policy credibility and unlocking financing from other sources. In many respects, the IMF functions less as a primary source of funding and more as a catalyst that reassures investors, development partners, and international capital markets.

As Sri Lanka moves closer to completing its current Extended Fund Facility (EFF) next year, the objective should be to transition from crisis-driven financing towards precautionary support mechanisms and normal market access. Such a transition would signal confidence in the country’s macroeconomic management while preserving access to external liquidity should unforeseen shocks emerge.

Continued support from multilateral and bilateral partners will remain a critical component of this liquidity bridge. Beyond the financing they provide, institutions such as the World Bank and Asian Development Bank play an important role in reinforcing confidence and mobilising investment. Improved sovereign creditworthiness, bilateral support arrangements, and a gradual return to international capital markets will also be important in managing future external obligations.

The firefighter is not the architect

One of the most persistent misconceptions in Sri Lanka’s economic discussion is the belief that an IMF program is, by itself, a pathway to growth and prosperity. It is definitely not.

The IMF is an economic firefighter, not an architect. It can douse the flames of default and help us clear the rubble, but it will not draft the blueprints for our future. The IMF will not train a single software engineer, it will not negotiate a supply-chain slot for a local manufacturer, and it will not magically improve the ease of doing business in Colombo. Those choices ultimately depend on domestic economic leadership, policy consistency, and the ability to implement a credible long-term development strategy.

The uncomfortable reality is that Sri Lanka’s economic debate remains disproportionately focused on financing rather than production. We spend far more time discussing lines of credit than how to increase exports, improve productivity, and build globally competitive industries. Financing matters, but it is ultimately a means to an end. Long-term prosperity comes from producing goods and services that the rest of the world actually wants to buy.

Execution deficit: Moving beyond sector lists

While liquidity management is essential, it cannot substitute for long-term economic transformation. The country must become more productive, competitive, export-oriented, and integrated into regional and global value chains.

Every policy paper lists ICT, logistics, maritime services, and tourism as growth engines. Yet growth is rarely constrained by the absence of sector strategies; it is constrained by weak execution, regulatory delays, inconsistent policies, and institutional inertia.

Sri Lanka’s export basket remains dangerously concentrated and vulnerable to external demand shocks. Future growth will depend on strengthening traditional sectors through value addition while expanding into higher-value manufacturing, technology, engineering, and knowledge-intensive industries.

However, neither export growth nor investment attraction can be sustained without radical improvements in productivity. Capital is notoriously cowardly; it goes only where it feels safe and stays where it is appreciated.

Right now, a Sri Lankan entrepreneur pitching to an international investor often spends more time explaining tax changes, approval delays, and policy reversals than explaining the business itself.

Attracting high-quality foreign direct investment requires policy consistency, regulatory predictability, efficient institutions, and a business environment that rewards enterprise over bureaucracy. We must ask hard questions: Why are our brightest minds leaving? Why does it take months to clear regulatory hurdles that our regional competitors solve in days?

Long-term competitiveness is not about identifying winning sectors; it is about removing the policy uncertainty, bureaucratic delays, and institutional inefficiencies that prevent firms from winning globally.

Sovereignty is earned, not borrowed

Perhaps Sri Lanka’s greatest challenge is not identifying what needs to be done, but finding the political and institutional discipline to do it consistently over time. Our economic history is littered with promising reforms that were diluted, reversed, or abandoned before their benefits could fully materialise. Sustainable economic transformation requires continuity across political cycles, credible institutions, and a national consensus that extends beyond electoral mandates.

The real test of economic policy is not whether it balances the Government’s books, but whether it expands the productive capacity of the nation. Countries do not achieve prosperity through fiscal adjustment alone. They prosper by producing more, competing more effectively, and creating value that the rest of the world is willing to pay for.

Economic sovereignty is not achieved through rhetoric, protectionism, or periodic access to external financing. It is earned through competitiveness, productivity, resilience, and credibility. Nations become truly sovereign when they can finance their development through the strength of their own economies rather than the patience of their creditors.

The IMF can help Sri Lanka restore stability and buy valuable time. What it cannot do is determine how that time is used. That responsibility rests with us.

History will not judge Sri Lanka by IMF reviews, reserve accumulation, or fiscal targets. It will judge us by whether we used this moment to build a larger, more productive, and more prosperous economy.

Solvency may save the State. Only prosperity can secure the future of its people.

The Court of Appeal yesterday postponed further consideration of a petition filed by former President Gotabaya Rajapaksa seeking an order preventing his arrest in connection with investigations into the 2019 Easter Sunday terrorist attacks.

The petition was taken up before a bench comprising Justices Rohantha Abeysuriya and Sarath Dissanayake, which fixed the matter for further consideration on 24 June.

President’s Counsel Romesh de Silva appeared for Rajapaksa and made submissions on behalf of the petitioner, while Deputy Solicitor General Suharshi Herath represented the respondents.

The respondents named in the petition are Inspector General of Police Priyantha Weerasooriya, Criminal Investigation Department Director Shani Abeysekara, Acting Director Madhava Gunawardena, and the Attorney General.

Rajapaksa is seeking relief from the Court in relation to ongoing investigations linked to the Easter Sunday attacks.

The matter will be taken up again on 24 June.

The National System Operator (NSO) expects to end the forced curtailment of renewable energy generation next year as battery energy storage system (BESS) projects are integrated into Sri Lanka’s electricity network, NSO Chairman Dr. Pradeep Perera told the Committee on Public Finance (CoPF) this week.

The NSO is the newly created entity that manages and operates the electricity grid after the Ceylon Electricity Board (CEB) split into four.

The commitment comes amid growing criticism from renewable energy developers over the repeated shutdown of solar and wind power generation during weekends and public holidays despite favourable generation conditions.

Appearing before the CoPF alongside officials from the Energy Ministry, Public Utilities Commission of Sri Lanka (PUCSL), Treasury, and power sector institutions, Dr. Perera acknowledged concerns over the continued curtailment of renewable energy, particularly during periods of low electricity demand.

The issue has become one of the most contentious in Sri Lanka’s power sector. The utility has repeatedly instructed solar and wind power producers to reduce output or suspend generation, citing grid stability concerns arising from low demand and high renewable energy generation.

Developers have argued that the restrictions have resulted in significant financial losses and the wastage of low-cost clean energy.

Earlier this year, the CEB faced allegations that renewable energy curtailment had caused losses of around Rs. 2 billion to the sector. In April, the CEB requested large-scale rooftop solar system owners to disconnect their systems for 10 days, citing grid stability concerns during a period of low demand and elevated solar generation.

The matter drew sharp scrutiny from CoPF Chairman Dr. Harsha de Silva, who recounted observing wind turbines standing idle despite strong winds and kite surfers operating nearby, only to learn that generation had been curtailed under official instructions.

‘We know it is a problem and we are working very hard to stop that,’ Dr. Perera told the Committee. ‘Once we have the batteries in the system, we will be able to stop the curtailment. Hopefully, next year, there won’t be any curtailment. I mean, forced curtailment.’

Committee members questioned why renewable energy producers continued to face restrictions despite the country’s stated objective of increasing the share of renewable energy in the electricity mix.

Officials told the Committee that renewable sources, including large hydro generation, accounted for approximately 62% of total electricity generation in 2025.

Dr. Perera said the sector was proceeding with large-scale battery storage investments intended to improve grid flexibility and absorb excess renewable generation.

A tender for a 160 MW BESS has already been awarded and equipment delivered, while a further 250 MW battery storage tender is expected to be launched.

The discussion also highlighted concerns over Sri Lanka’s relatively high electricity costs. Dr. de Silva noted that local manufacturers faced a competitive disadvantage against regional peers, with electricity remaining one of the largest cost components for the industry.

PUCSL officials said the regulator continues to encourage greater renewable energy deployment and additional capacity additions over the medium term as part of efforts to lower system costs.

During the proceedings, officials also noted that under the new electricity tariff-setting framework introduced through sector reforms, the authority to determine renewable energy tariffs now rests with the PUCSL rather than the CEB.

The planned deployment of battery storage is expected to play a key role in reducing renewable energy curtailment, improving grid flexibility, and supporting Sri Lanka’s transition towards a larger share of renewable generation.

Prime Residencies, recently marked the commencement of construction on its latest ultra-luxury residential development, THE GOLF, with its groundbreaking ceremony held at the project site on Lake Drive, Colombo 8.

The event brought together key stakeholders and project partners to mark the ceremonial breaking of the ground, signalling that a vision long in the making is currently under construction.

Bordering and overlooking the prestigious Royal Colombo Golf Club, THE GOLF is part of Prime Residencies’ One Collection – a rare and limited collection of ultra-luxury residences shaped by elegance, refinement, and timeless design. Framed by sweeping fairway views and lush greenery, the development offers a rare sense of tranquillity and prestige, bringing together thoughtfully crafted interiors, elevated amenities, and sophisticated living spaces to create an address of remarkable distinction. At THE GOLF, every detail has been designed to reflect a lifestyle inspired by grace, privacy, and the enduring prestige of the greens.

Priced from Rs. 95,700,000 upwards, residences begin from the second floor. As a boutique development, THE GOLF totals in 66 curated two- and three-room bedroom residencies and is uniquely positioned to make the most of the panoramic views that define the address. The development will be built on a pile foundation by K.D Piling Ltd., reflecting the structural integrity and construction quality that Prime Group brings to every project.

Among the standout features of the development are private plunge pools in selected residences, that offer unparalleled views overlooking the fairways of the Royal Colombo Golf Club, creating a unique combination of calm, privacy, and elevated living unfolding under open skies, further accentuated by immaculate greenery. Double car parking is facilitated through a car hoist system.

The rooftop level has been designed as an exclusive destination in its own right, housing both a kids and adults pool, a fully equipped gymnasium, a celebration hall, The Sunset Lounge, a poolside bar, and the Little Greens Club, an open-air outdoor space where children can play, read, and explore in a relaxed rooftop setting. Residences come with fully fitted kitchens, while at ground level, a thoughtfully designed arrival lobby and lounge, alongside on-site concierge services, set the tone from the moment residents’ step through the door.

Prime Group Chairman Premalal Brahmanage said: ‘THE GOLF is one of the rarest residential addresses in Colombo. Opportunities like this are exceptionally uncommon, as only a select few home owners have the privilege of living with a direct frontage to this prestigious landmark. This is truly a rare development, combining exclusivity, prestige, and an exceptional lifestyle in a highly sought after area.’

The Company said the overwhelming response from buyers reflects the exceptional appeal of this unique development. A significant majority of the residences have already been reserved, with only a limited number of units remaining available for sale. This strong demand underscores the value that discerning homeowners place on owning a residence in such a rare and prestigious location.

Parliament’s Committee on Public Finance (CoPF) Chairman Dr. Harsha de Silva has questioned whether the Ceylon Petroleum Corporation (CPC) was managing its foreign exchange requirements efficiently, warning that unscheduled large purchases of dollars could contribute to volatility in the foreign exchange market.

Referring to a reported $ 46 million purchased in a single day on 29 May, Dr. de Silva argued that large, concentrated demand for foreign currency could disrupt market stability and affect other participants.

He urged CPC officials to adopt a smoother purchasing strategy supported by stronger treasury management practices rather than making sizeable one-off purchases.

CPC officials told the Committee that the organisation now follows a planned approach to foreign currency purchases and intends to spread acquisitions over multiple days to avoid market disruptions. Officials said the Corporation had prepared purchasing plans for future fuel import requirements.

They explained that sudden escalation in global oil prices had caused initial difficulties. Before April, the monthly fuel import bill averaged around $ 100 million, before ballooning to over $ 500 million.

The CPC purchases its foreign currency requirements from nine banks via auctions and plans to purchase $ 11 million daily going forward.

Set between the tranquil waters of the Bentota River and the golden shores of the Indian Ocean, NH Bentota Ceysands Resort offers a distinctive coastal escape where relaxation, adventure, and warm hospitality come together in a truly unique setting. Beginning with a unique ferry transfer experience across the river, the resort welcomes guests to enjoy exceptional dining, exciting water sports, family-friendly facilities, and memorable moments surrounded by the beauty of both river and sea.

Guiding the resort’s continued growth and development is General Manager Anil Chavan, a seasoned hospitality professional with over 22 years of experience spanning sales, operations, hotel management, and commercial leadership across India and the Middle East. Having begun his hospitality journey in sales, Anil spent over a decade working with renowned hospitality brands across Mumbai and Dubai, including Marriott Hotels, Habtoor Grand Jumeirah Beach, and Oakwood, building strong expertise in business development, corporate sales, and market expansion. His extensive industry knowledge and well-rounded leadership experience continue to support the resort’s focus on delivering exceptional guest experiences while strengthening its position within Sri Lanka’s leisure hospitality sector.

‘Bentota is a truly unique destination, offering an exceptional blend of coastal beauty, authentic experiences, and warm hospitality. I look forward to working closely with the team to further strengthen the resort’s positioning, enhance guest experiences, and build meaningful partnerships across key markets,’ NH Bentota Ceysands General Manager Anil Chavan said.

The resort features 165 spacious rooms and suites thoughtfully designed to offer comfort, relaxation, and beautiful views overlooking lush tropical gardens, the tranquil river, and the Indian Ocean. Each room features a private balcony or terrace, creating the perfect space to unwind and enjoy the refreshing coastal breeze in a peaceful and memorable setting.

Guests can discover a vibrant culinary journey inspired by the rich flavours of Sri Lanka and the freshness of locally sourced seafood. Café Bem offers all-day dining with a selection of local and international favourites, while 360 Seafood Restaurant showcases the freshest seafood specialities in a relaxed coastal setting. Siam Pearl presents a distinctive Asian fusion dining experience, bringing together flavours and influences from across the region. Complemented by warm hospitality and inviting surroundings, each venue offers memorable dining experiences for every occasion.

Adding to the resort’s appeal is its dedicated water sports centre, offering a variety of exciting activities and excursions across both the river and ocean. Families can enjoy one of the resort’s unique features, Maxies Kids Club, which offers engaging activities for younger guests alongside dedicated baby care facilities. The resort also provides an ideal setting for meetings, weddings, and special celebrations, with personalised service, exceptional dining, and picturesque beach and riverfront surroundings creating memorable experiences for every occasion.

Conveniently located approximately 90 minutes from Bandaranaike International Airport, NH Bentota Ceysands continues to offer a unique combination of coastal beauty, exceptional dining, family-friendly experiences, and authentic hospitality, making it one of Sri Lanka’s most distinctive beach and riverfront destinations.

Dialog Axiata PLC, has strengthened its Enterprise Risk Management (ERM) governance through independent validation against ISO 31000:2018 principles by Quality Austria Central Asia Ltd. This achievement reaffirms Dialog’s commitment to resilient, transparent and responsible business practices while supporting sustainable growth, stakeholder confidence and globally aligned risk management across its expanding telecommunications and digital services portfolio.

The validation confirms that Dialog’s risk management standard is systematic, integrated across the organisation and aligned with internationally recognised best practices. As the first telecommunications operator in Sri Lanka to achieve independent validation against ISO 31000 principles, Dialog has further strengthened its governance practices to address growing stakeholder expectations for transparency, accountability and resilience. The risk governance embeds risk management into strategy, planning, operations and governance, supporting informed decision-making as the company continues to expand across telecommunications and digital services. It also enables the early identification and management of emerging risks, including cybersecurity, data privacy, technology dependency, regulatory compliance and operational challenges, while supporting safe and scalable innovation in areas such as 5G, cloud, fintech and artificial intelligence.

Commenting on the achievement, Dialog Axiata PLC Director/Group Chief Executive Supun Weerasinghe said, ‘This independent validation against ISO 31000 principles reflects Dialog’s continued commitment to maintaining a robust, globally aligned risk management guidelines that supports resilience, accountability and sustainable growth. Effective risk governance is fundamental to protecting our customers, safeguarding critical services, enabling innovation and strengthening stakeholder confidence as we continue to advance Sri Lanka’s digital future.’

The achievement builds on Dialog’s continued adoption of internationally recognised standards across governance, risk management and business resilience. Through its enterprise-wide risk management, Dialog strengthens service reliability and incident response capabilities for customers, enhances governance assurance for investors, and reinforces public trust through responsible corporate practices and resilient digital infrastructure.

As Dialog continues to expand its telecommunications and digital services portfolio, the company remains committed to continuously strengthening its risk management capabilities in line with evolving global best practices. By embedding risk governance across all aspects of the business and proactively addressing emerging risks, Dialog is well positioned to support innovation, safeguard stakeholder interests and deliver resilient, stable and sustainable business performance into the future.

DC Group Co-Founder and Managing Partner Arjun Jeger has been named to Campaign Asia’s prestigious 40 Under 40 Class of 2026, recognising emerging leaders shaping the future of marketing, media and communications across the Asia-Pacific region.

Jeger joins a select cohort of leaders representing 14 markets across Asia-Pacific, recognised for their business achievements, innovation and contributions to the wider industry.

The recognition marks a significant milestone in a journey that began in 2017 with the founding of Digital Content, a small startup built with minimal savings and no external investment. Driven by a belief that agencies needed to move beyond rigid structures and embrace platform-first storytelling, Jeger built the business around a simple philosophy: one brief, one team, one measurable result.

What started as a boutique digital content agency has since evolved into DC Group, one of Sri Lanka’s largest independent creative networks, employing over 150 professionals across nine specialised companies spanning creative, production, influencer marketing, performance media, martech, media and live experiences.

The growth of the business came during one of the most challenging periods in Sri Lanka’s recent history. Through the 2019 Easter attacks, the global pandemic and the country’s economic crisis in 2022, DC Group continued to grow while honouring every commitment to its people and partners, without missing a single salary cycle.

Over the past year, the group recorded 31% growth and expanded internationally into East Africa with the launch of DC International in Nairobi, while also establishing an AI-focused specialist agency to help clients navigate the next era of marketing transformation.

Inside the organisation, Jeger introduced an ownership-driven model that empowers senior specialists to lead business verticals as entrepreneurs with equity participation, creating deeper accountability, stronger retention and a more inclusive leadership culture. Today, women represent half of DC Group’s workforce and hold a meaningful share of leadership positions.

Beyond business, Jeger serves as President of the Digital Marketing Association of Sri Lanka (DMASL), where he has helped connect more than 1,000 professionals with global industry leaders, championed diversity initiatives including the launch of the Women’s Chapter in partnership with She Loves Data, and contributed to strengthening Sri Lanka’s digital marketing ecosystem.

Commenting on the recognition, Arjun Jeger said: ‘This recognition is deeply personal because it represents far more than an individual achievement. It belongs to every person who believed that a world-class agency could be built from Sri Lanka, through some of our nation’s most difficult years, without external capital and without compromising on our values. I hope this serves as a reminder that where we start doesn’t determine how far we can go, and that talent from Sri Lanka can compete and win on any stage in the world.’