Category: Daily Financial Times

Fears that Sri Lanka Women will find it difficult to qualify for a place in the inaugural ICC Women’s Champions Trophy after having lost the right to host the tournament have been laid to rest by the latest media release from Sri Lanka Cricket (SLC).

‘While Sri Lanka will not host the tournament, the Sri Lanka Women’s national team has secured automatic qualification for the competition based on its standing in the current qualification process,’ states the release.

‘SLC welcomes the qualification of the Sri Lanka Women’s national team and remains committed to providing the team with the necessary support in its preparation for the tournament.

‘Sri Lanka Cricket will continue to work closely with the ICC, the host nation of the ICC Women’s Champions Trophy, and all relevant stakeholders to ensure the successful conduct of the inaugural tournament.’

The tournament will be held in India from 14-28 February next year.

A collective of civil society organisations have lodged a complaint with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), alleging misuse of parliamentary allowances by National People’s Power (NPP) MPs.

The complaint was submitted this week on behalf of the Centre for Free Struggle by Darshana Thanthri and Leshan Vidanagamachchi, together with groups including Dinana Dakuna and Free Lawyers.

The complainants alleged that allowances received by NPP MPs had been deposited into a bank account of the Janatha Vimukthi Peramuna (JVP) instead of being used for public welfare.

They claimed the practice constituted an offence under the Anti-Corruption Act No. 09 of 2023 and requested CIABOC to launch an urgent investigation.

The petition called for all 159 NPP MPs to be summoned to record statements and for the JVP’s bank accounts and relevant financial records to be examined as part of the investigation.

The organisations outlined five demands in their submission, including scrutiny of financial records and measures to ensure accountability, arguing that transparency was necessary to safeguard public trust.

FCCISL President Dr. Rohitha Silva led a delegation to meet Thai Ambassador to Sri Lanka Paitoon Mahapannaporn at the Royal Thai Embassy. The cordial discussion explored opportunities to further strengthen institutional relations and expand trade, investment and business cooperation between Sri Lanka and Thailand.

The FCCISL delegation included Past President Shirley Jayawardana, Director and Chairman of the State Affairs Committee Ruwan De Silva, Secretary General Thilan Wijesooriya, and FCCISL Manager Fathima. Royal Thai Embassy Counsellor Prangtip Kongridhisuksakorn took part in the discussion.

Building upon the longstanding friendship and goodwill between the two countries, both sides discussed the implementation of the Sri Lanka -Thailand Free Trade Agreement and closer cooperation between business communities in the two countries. Enhanced economic ties are expected to create new opportunities for businesses and entrepreneurs, particularly MSMEs, while promoting investment, technology and knowledge exchange, job creation and sustainable growth for the mutual benefit of the Thai and Sri Lankan peoples.

Both sides also considered deepening engagement to facilitate closer connections between FCCISL’s district and regional chamber network and relevant Thai chambers, business organisations and regional commercial networks.

FCCISL outlined its plans for the Asia Trade Fair, scheduled for early 2027 and expected to be organised in collaboration with the SAARC Chamber of Commerce and Industry. In this regard, FCCISL sought the valued assistance of the Royal Thai Embassy in encouraging the participation of suitable Thai companies, buyers, exhibitors and business delegations.

Carson Cumberbatch Group companies Ceylon Investment PLC and Ceylon Guardian Investment Trust PLC, two related closed-end funds, have each delayed the start of their proposed share repurchase offers by three weeks.

Both offers, first flagged to the exchange on 23 July, were originally scheduled to open on 2 September; both will now open on 22 September instead.

Ceylon Investment plans to repurchase up to 1,800,014 ordinary shares, one for every 54 held, at Rs. 203.33 per share, a price set against the fund’s net asset value as at 31 March, 2026. The offer is valued at over Rs. 365.9 million.

Ceylon Guardian’s offer is larger and covers two share classes. It plans to repurchase up to 1,510,529 ordinary shares and 105,609 deferred shares, in each case one for every 53 held, at Rs. 406.43 per share, also priced off 31 March net asset value. Net of 15% withholding tax, the offer is valued at over Rs. 613.9 million for ordinary shares and over Rs. 42.9 million for deferred shares. Together, the two funds’ repurchases are worth just over Rs. 1.02 billion.

Both companies have adopted an identical revised timetable: an entitlement date of 11 September, dispatch of offer documents and acceptance forms by 21 September, an offer window running from 22 September to 13 October, and payment to accepting shareholders due no later than 27 October.

Neither disclosure altered the underlying terms of its respective offer, only the commencement date, consistent with the delay both companies had already signalled at the time of their original July announcements.

Share repurchases of this kind allow closed-end funds to return capital to shareholders at a price anchored to net asset value, offering an exit route closer to underlying fund value than the market price might otherwise reflect.

The Securities and Exchange Commission of Sri Lanka (SEC) yesterday defended co-hosted roadshows saying foreign purchases of Sri Lankan equities from Singapore nearly tripled in the 12 months following the Invest Sri Lanka Forum held in the city-state last year.

The SEC said this was evidence of the value of sustained overseas investor engagement. The statement also comes hot on the heels of a roadshow in Melbourne and Sydney, Australia, recently.

In a social media post titled ‘Do Invest Sri Lanka Forums Really Work?,’ the SEC said foreign purchases originating from Singapore amounted to Rs. 7.7 billion in the 12 months following the forum held on 12 August 2025, compared with Rs. 2.6 billion during the preceding 12 months.

The increase amounted to 196%, according to the regulator.

The SEC did not attribute the entire increase in purchases directly to the forum, but said investment decisions typically followed a longer process involving research, meetings with companies, risk assessments, and due diligence.

‘Investors do not attend a forum and immediately commit funds. Instead, they conduct research, meet companies, assess risks, and carry out due diligence before investing, a process that often takes six to 12 months or longer,’ the SEC said.

The regulator said foreign investors currently account for 9% of stock market turnover, compared with 6% in 2025. However, foreign participation remains considerably below the 40% level recorded before Sri Lanka’s economic crisis.

The figures underline the gap the capital market still has to bridge in rebuilding overseas investor participation despite the increase recorded over the past year.

The SEC said attracting foreign investment was important to strengthening and expanding Sri Lanka’s capital market and argued that the Singapore figures demonstrated the value of maintaining engagement with international investors.

‘These results demonstrate the value of sustained engagement with international investors,’ it said.

The SEC said its mandate extends beyond regulation to capital market development, including educating overseas investors about Sri Lanka’s market and available investment opportunities.

Invest Sri Lanka Forums are conducted jointly with the Colombo Stock Exchange (CSE) and other market participants, including stockbrokers, fund managers, and listed companies.

The SEC said the forums were intended to provide international investors with information on Sri Lanka’s capital market and investment opportunities to support informed investment decisions.

‘The numbers speak for themselves. That’s our report card,’ the SEC said.

Hayleys Fentons has been named the Best Managed Project Organisation of the Year and Overall Winner at the National Project Management Excellence Awards 2026, securing 18 awards – the highest number won by any organisation at this year’s awards. The recognition reflects the strong performance of Hayleys Fentons’ projects across multiple sectors and project disciplines.

Organised by the Project Management Institute (PMI) Colombo Sri Lanka Chapter, the National Project Management Excellence Awards recognise organisations, project teams and project managers for excellence in project delivery, leadership, innovation and value creation. The awards were presented at Waters Edge, Colombo, as part of the 9th National Project Management Conference 2026.

Hayleys Fentons’ 18 winning entries spanned construction and infrastructure, power and energy, digital transformation and ICT, tourism and hospitality, manufacturing, marketing and communications, human capital development, certification and environmental conservation.

Managing Director Hasith Prematillake said: ‘Securing 18 awards, including the Best Managed Project Organisation of the Year and Overall Winner titles, is a strong endorsement of the quality of work delivered by our teams. This recognition reflects our expertise and ability to manage complex projects across sectors while focusing on delivering technically sound and sustainable solutions that create lasting value for our clients.’

The 2026 recognition builds on Hayleys Fentons’ record of recognition at the National Project Management Excellence Awards, following previous wins for projects delivered across the organisation’s diverse portfolio.

Public Utilities Commission of Sri Lanka (PUCSL) Chairman Prof. K.P.L. Chandralal yesterday said Sri Lanka will need to produce around 5,000 qualified solar power technicians each year to support the installation of some 600 MW of solar capacity annually and remain on track to achieve its target of generating 70% of electricity from renewable sources by 2030.

Addressing the media, he warned that the rapid expansion of the solar industry could be constrained by a shortage of professionally qualified technicians, limited training capacity and a lack of specialised solar consultants.

Over 1,000 companies have obtained licences from the Sri Lanka Sustainable Energy Authority (SLSEA) to import and install solar systems, with around 10,000 people currently employed in the sector. However, a significant proportion of the workforce does not possess recognised professional qualifications, he said.

‘The expansion of renewable energy must be supported by a workforce with the necessary technical skills and professional qualifications,’ Prof. Chandralal said, stressing that properly trained technicians were essential for the quality and reliability of installations, electrical safety and the long-term sustainability of the sector.

To address the skills gap, the SLSEA and PUCSL have launched a program targeting the training of 5,000 solar technicians, 100 instructors and inspectors. Around 1,500 technicians have already been trained.

A special program is also being implemented to enable experienced technicians to obtain NVQ Level 3 qualifications in solar technology free of charge through the Recognition of Prior Learning (RPL) system. Technicians with more than two years of industry experience will be eligible to have their existing skills formally assessed and recognised.

The move to formalise the sector comes as regulations issued by the Sri Lanka Engineering Council introduce mandatory professional qualifications for solar technicians.

Under the new requirements, NVQ Level 3 will be the minimum qualification for practicing as a solar energy technician from 1 January 2028 to 31 December 2029.

From 1 January 2030, technicians will need to hold NVQ Level 4 in Solar Energy Technology and be registered with the Sri Lanka Engineering Council as Engineering Technicians.

Prof. Chandralal said the phased requirements would raise professional standards while improving the safety and quality of solar installations as the industry expands rapidly.

The PUCSL Chairman also highlighted a parallel program to formalise qualifications for refrigeration, air conditioning, and vehicle air conditioning technicians.

The National Ozone Unit of the Environment Ministry and PUCSL are implementing an islandwide program to provide free NVQ Level 3 and Level 4 qualifications to technicians in these fields.

The Sri Lanka Engineering Council issued regulations on 7 July 2026 governing the practice of refrigeration and air conditioning technicians, mobile air conditioning technicians, and qualified technicians in these fields.

As with solar technicians, NVQ Level 3 will become the minimum qualification from January 2028 through December 2029, followed by a requirement from 2030 for the relevant NVQ Level 4 qualification and registration with the Engineering Council.

Prof. Chandralal said the qualification programs would allow experienced technicians to formally recognise their existing skills while strengthening technical standards, electrical safety, and Sri Lanka’s environmental protection commitments.

The Colombo stock market rebounded yesterday with investor sentiment buoyed by falling Treasury Bill yields.

With 126 counters ending in green against 84 in red, the ASPI ended up 0.33% or 69.47 points at 21,395.11 and the active S and P SL20 ended up 0.2% or 11.75 points at 5,995.25.

Turnover was over Rs. 2.4 billion on over 118.1 million shares traded. Foreign investors were net buyers on a net inflow of Rs. 68.3 million.

The top contributors to the ASPI was CINS, HAYC, RCL, DIPD and AEL and negative contributors were JKH, BIL, BREW, HNB and CARS.

First Capital Research said declining T-Bill rates helped boost investor confidence. The bourse gained momentum supported by buying interest following the decline in T-Bill yields at the weekly auction, alongside increased participation from both retail and HNW investors compared to the previous session. Investor interest was evident in export-oriented and materials sector companies.

The food, beverage and tobacco sector led the daily turnover with a share of 26%, followed by the materials and diversified financials sectors collectively contributing 41%.

NDB Securities said high net worth and institutional investor participation was noted in Renuka Foods, Dipped Products and John Keells Holdings.

Mixed interest was observed in Vallibel Finance, Haycarb and Alumex whilst retail interest was noted in UB Finance Company, Browns Investments and Softlogic Capital.

The food, beverage and tobacco sector was the top contributor to the market turnover due to Renuka Foods whilst the sector index gained 0.85%. The share price of Renuka Foods decreased by 60 cents to close at Rs. 25.90.

The materials sector was the second highest contributor to the market turnover due to Dipped Products and Haycarb whilst the sector index increased by 2.93%. The share price of Dipped Products moved up by Rs. 3.50 to close at Rs. 61.60 and Haycarb appreciated by Rs. 12.50 to close at Rs. 215.50.

Vallibel Finance and John Keells Holdings were also included amongst the top turnover contributors. The share price of Vallibel Finance lost Rs. 4.20 to close at Rs. 86.80 and John Keells Holdings closed flat at Rs. 19.50.

The National Sales Average (NSA) of tea edged lower in August from the previous month and remained below its year-ago level, although the cumulative average for the first eight months of 2026 continued to exceed the 2025 figure in rupee terms, according to Forbes and Walker Research.

The National Tea Sales Average for August 2026 was Rs. 1,174.46 ($ 3.53) per kilogram, compared with Rs. 1,176.10 ($ 3.50) in July, reflecting a month-on-month (MoM) decline of Rs. 1.64 but a $ 0.03 increase in US dollar terms.

Compared with August 2025, when the NSA stood at Rs. 1,182.27 ($ 3.92), the August 2026 average was lower by Rs. 7.81 and $ 0.39.

For the first eight months of 2026, the NSA stood at Rs. 1,165.66 ($ 3.62) per kilogram, compared with Rs. 1,156.37 ($ 3.87) during the corresponding period of 2025.

This represented a year-to-date (YTD) increase of Rs. 9.29 in local currency terms, while the US dollar-denominated average was $ 0.25 lower.

Among the three elevation categories, High Grown teas recorded an August average of Rs. 1,057.06, down Rs. 4.89 from July and Rs. 49.14 from August 2025. In US dollar terms, the average increased by $ 0.02 MoM to $ 3.18, but was $ 0.49 below the corresponding month last year.

The cumulative High Grown average for 2026 stood at Rs. 1,109.75, Rs. 35.14 above the corresponding 2025 average of Rs. 1,074.61. In dollar terms, however, the cumulative average declined by $ 0.15 to $ 3.45.

Medium Grown teas recorded a marginal MoM increase of Rs. 0.88 to Rs. 954.82 in August, while the dollar average rose by $ 0.03 to $ 2.87. Compared with August 2025, however, the category was lower by Rs. 74.28 and $ 0.54.

On a cumulative basis, Medium Grown teas remained the only elevation category to record a decline in rupee terms, with the average falling Rs. 41.80 to Rs. 980.26 from Rs. 1,022.06 during the corresponding period last year. The dollar average declined by $ 0.38 to $ 3.04.

Low Grown teas recorded an August average of Rs. 1,276.83 ($ 3.84), down Rs. 16.23 and $ 0.01 from July. Compared with August 2025, the rupee average was Rs. 25.74 higher, although the dollar equivalent was $ 0.31 lower.

For the first eight months of 2026, the Low Grown average stood at Rs. 1,241.30, Rs. 13.26 above the corresponding 2025 average, while its dollar-denominated average declined by $ 0.26 to $ 3.86.

Forbes and Walker Research said the cumulative National, High Grown, and Low Grown averages recorded positive variances in rupee terms compared with 2025, while Medium Grown teas recorded a decline. In US dollar terms, all three elevations and the NSA remained below their corresponding 2025 levels.

The 23rd edition of ProFood ProPack and AgBiz 2026, Sri Lanka’s leading exhibition for the food processing, packaging and agriculture sectors, concluded successfully at the BMICH, attracting nearly 30,000 visitors and bringing together industry stakeholders from across Sri Lanka and overseas.

Held from 21 August 2026, the three day exhibition provided a comprehensive platform for businesses, entrepreneurs, industry professionals and consumers to discover new products and technologies, exchange knowledge, build partnerships and explore opportunities across the food processing, packaging and agriculture value chain.

Organised by the Sri Lanka Food Processors Association (SLFPA) in collaboration with professional exhibition organiser Lanka Exhibition and Conference Services Ltd., (LECS) this year’s edition occupied six exhibition halls and featured nearly 450 stalls, with international participation of nearly 30 exhibitors.

The opening ceremony was graced by Industries and Entrepreneurship Development Minister Sunil Handuneththi and Secretary Thilaka Jayasudara. Their presence reaffirmed the Government’s appreciation of the exhibition and its contribution to the development of Sri Lanka’s industrial and entrepreneurial ecosystem.

Promoting innovation, knowledge and industry-academia collaboration

A key highlight of this year’s exhibition was the Innovation Pavilion, where 14 Government and private-sector universities showcased research, innovations and technology solutions relevant to the food and related industries.

The Institute of Food Science and Technology Sri Lanka (IFSTSL) also organised an industry seminar and several activities aimed at engaging university undergraduates in food science and technology, strengthening links between academia and industry and encouraging the next generation of food industry professionals.

SLFPA Career Connect opens new opportunities for young professionals

Highlighting the importance of talent in shaping the future of the industry, Sri Lanka Food Processors Association President Aruna Senanayake said: ‘The future of food processing depends on having the right people, with the right skills, at the right opportunities.’ Reflecting this vision, SLFPA introduced SLFPA Career Connect at the exhibition, creating an industry-focused platform to connect employers with interns, graduates and young professionals seeking career opportunities within the sector.

The platform was officially launched by Minister Sunil Handunneththi.

Supporting SMEs and strengthening industry knowledge

Further strengthening the exhibition’s focus on industry development, the SME Pavilion, organised by the Ministry of Industries, provided emerging businesses with greater market visibility and opportunities to engage with potential customers and industry stakeholders.

The Knowledge Circle Industry Seminar, organised by SLFPA, provided industry participants with an opportunity to enhance their knowledge through insights and expertise from industry professionals. This year, the organising committee also expanded the Knowledge Hub to include a dedicated Industry Help Desk, serving as an important touchpoint for new entrepreneurs seeking guidance and assistance in identifying business and industry opportunities.

Flagship platform for Sri Lanka’s food industry

For over 23 years, ProFood ProPack and AgBiz has remained SLFPA’s flagship platform, contributing to the advancement of Sri Lanka’s food sector while supporting innovation, business development and economic growth.

Driven by overwhelming demand and positive feedback from exhibitors and visitors, the organisers have announced plans to expand the venue for next year’s exhibition, creating greater opportunities for exhibitors, businesses and visitors.

The strong response to this year’s event underscores the growing importance of the food and beverage sector in driving innovation, trade and collaboration. With record visitor footfall and strong business outcomes, ProFood ProPack and AgBiz 2026 has further strengthened its position as a leading platform for the food, beverage, processing and packaging industries.

Celebrating culinary creativity

This year’s edition also introduced several engaging attractions designed to enhance the overall visitor experience. Among them was the Home Cooking Challenge, which provided home cooks with an opportunity to prepare creative dishes using products featured at the exhibition. The initiative celebrated culinary creativity while demonstrating the versatility of products and brands participating in the event.

The success of ProFood ProPack and AgBiz 2026 was made possible through the valuable support of its leading industry partners.

The exhibition was supported by Platinum Sponsors: Cargills Ceylon PLC, Multivac Laraon India Ltd., Maliban Biscuit Manufactories Ltd., Nikini Automation Systems, and Pakona Engineers India Ltd.

The event was further supported by Gold Sponsors: Aussee Oats Milling Ltd., Freelan Enterprises Ltd., and Nestlé Lanka Ltd.

The distinguished group of Silver Sponsors included Akhtari Traders Ltd., Alli Company Ltd., Country Style Foods Ltd., CMC Engineering Export GmbH, Norfolk Foods Ltd., FMJ Holdings, FPT Food Process Technology Co. Ltd., Hayleys Agriculture Holdings Limited, Goma Process Technologies Ltd., Lablink Ltd., Pro Tec Global Ltd., Maliban Dairy and Agri Products Ltd., Maliban Milk Products Ltd., Nelna Agri Development Ltd., Rancrisp Marketing Ltd., and Zellers – Maliban Biscuit Manufactories Ltd.

ProFood ProPack and Agbiz 2026 Organising Committee Co-Chairs Nadishan Guruge and Sameera Jayathilake on behalf of SLFPA, extended sincere appreciation to all exhibitors, valued sponsors, Government institutions, universities, professional bodies, industry partners, media, visitors and other stakeholders whose support contributed to the successful conclusion of ProFood ProPack and AgBiz 2026.