Category: Daily Financial Times

Sri Lanka’s primary equity market is expected to enter a more supportive phase for Initial Public Offerings (IPOs) in 2026, with regulatory reforms, improved market performance, and accommodative monetary conditions strengthening the case for listings, according to Asia Securities.

The investment house said IPO activity revived during 2024 and 2025 after several subdued years, alongside a recovery in equity prices following the 2022 crisis. The Colombo Stock Exchange (CSE) was among the stronger-performing markets in Asia during this period, improving secondary market liquidity and valuation benchmarks for prospective issuers.

Asia Securities said the outlook for 2026 is underpinned by operational reforms at the exchange. At a recent awareness session for corporate finance advisers, the CSE announced plans to introduce a digital listing portal during the year and committed to completing reviews within seven working days once minimum listing requirements are met, compared with materially longer approval timelines in the past.

These initiatives align with the Securities and Exchange Commission’s (SEC) 10-year capital market development roadmap, which aims to increase listings from private sector firms and State-Owned Enterprises (SOEs) to expand market capitalisation, improve free float, and broaden investor participation.

On funding conditions, Asia Securities said expectations of low to moderate interest rates through 2026 strengthen the relative appeal of equity financing. With policy rates having peaked in 2023 and inflation pressures easing, equity offers permanent capital without the cash flow strain associated with debt servicing, particularly for investments with long payback periods.

The firm cited recent IPO outcomes as evidence of improved market receptiveness. Cable Solutions Ltd., which listed in August 2024 at Rs. 7.50 per share, has since traded above Rs. 15, more than doubling within just over a year of listing. The issue was managed by Asia Securities Investment Banking.

Asia Securities said equity funding also improves balance sheet strength by lowering gearing ratios, often reducing future borrowing costs and dependence on bank credit. It added that public listings strengthen governance frameworks and support succession planning, particularly for founder-led and family-owned businesses, by formalising board structures, disclosures, and ownership transferability.

The IPO outlook is being reinforced by broader macroeconomic stabilisation, Asia Securities said, citing improvements in fiscal performance and debt sustainability.

Presenting the firm’s macro outlook at a recent investor forum, Asia Securities Head of Research Sanjeewa Fernando said Government revenue has recovered to above 15% of GDP, a level required to secure key governance-related concessions under Sri Lanka’s restructured debt program.

‘Revenue-to-GDP has now moved to around 15% plus, which is critical under the restructured debt framework to qualify for certain concessions,’ Fernando said.

He said Sri Lanka has outperformed International Monetary Fund (IMF) program targets, noting that 2025 marked the third consecutive year of a primary surplus.

‘For 2026 and 2027, external debt settlement obligations do not exceed $ 2.5 billion per year. This represents a significant reduction from pre-restructuring levels and materially improves debt sustainability,’ he said.

Fernando said the improvement is reflected in the interest expense-to-tax revenue ratio, a key metric monitored by credit rating agencies as Sri Lanka emerges from default.

On growth capacity, he said Sri Lanka’s investment-to-GDP ratio stands at around 27%, comprising private sector investment of about 23%, foreign direct investment of around 1%, and public investment of roughly 3%.

‘Historically, sustaining growth above 6% requires an investment-to-GDP ratio of about 30% to 31%, which highlights the need to raise capital formation,’ Fernando said.

He added that private sector credit conditions have improved, with credit growth exceeding Rs. 200 billion per month from mid-2025, while Government borrowing from the domestic market declined. Private sector credit-to-GDP has risen to around 31.3% without signs of excess leverage.

Fernando said maintaining fiscal discipline under the Public Finance Management Act and Debt Management Act, while increasing investment, will be critical to sustaining the recovery and supporting capital market development.

Having opened in 2003, the Uragasmanhandiya branch of National Savings Bank (NSB) has delivered dedicated banking services for more than 20 years and with a view to offering a better experience to the customers of the area. Recently the branch was ceremoniously reopened at a new location, at Kosgoda Road, Uragasmanhandiya.

NSB Chairman Dr. Harsha Cabral PC, graced the occasion, as the Chief Guest while Karandeniya Divisional Secretary Prasanthi Madurangani, NSB Acting General Manager/CEO Rohana Weerakoon, Senior Deputy General Manager K Raveendran, Deputy General Manager (Operations) Nalika Wijesinghe, Assistant General Manager (Marketing) Dulakshi Perera, Regional Manager Susantha Piyarathna, Uragasmanhandiya Branch Manager Sudaraka Liyanage, several state officers and representatives of the business community were also present at the event.

The first day deposits were accepted by the distinguished guests, and the first deposit was handed over to Dr. Harsha Cabral PC by Mr and Mrs D. S. Jayawardena. The relocated branch consists of spacious premises and modern banking amenities including an ATM, ensuring a superior service to the people of the area.

NSB, the only bank that offers 100% Government Guarantee, has substantially expanded its service network in recent years.

Intellect Design Arena Ltd., a global leader in enterprise-grade financial technology, announces its strategic partnership with Sampath Bank PLC to elevate the bank’s capabilities to accelerate its corporate and SME banking transformation.

Deploying a state-of-the-art solution that modernises the bank’s comprehensive transaction banking landscape including cash management, trade finance and supply chain finance, reinforces Sampath Bank’s commitment to digital excellence and future-ready financial services.

This partnership marks a major step in Sampath Bank’s journey towards building a future-ready, intelligent digital banking enterprise, and reinforces Intellect’s leadership in delivering enterprise-grade transformation through its eMACH.ai architecture, one of the best composable open finance platforms in the world.

The transformation journey was formally initiated with a project kick-off ceremony held in January, in the presence of Sampath Bank Managing Director/CEO Sanjaya Gunawardana and Intellect Design Arena Ltd. India and South Asia CEO S.V. Ramanan along with the corporate leadership teams from Sampath Bank and Intellect, marking the shared commitment to this landmark corporate banking transformation. The ceremony marked the formal alignment of vision, strategy, and execution teams across both organisations, reinforcing a shared commitment to delivering a scalable, future-ready corporate and SME banking platform that will drive long-term business impact, operational resilience, and enhanced customer experience.

A new benchmark

The Sri Lankan banking industry stands at a pivotal moment of digital reinvention, driven by evolving customer expectations and rapid technological advancements. Sampath Bank, known for its consistent innovation and customer-centricity, is setting a new benchmark in corporate and SME banking by adopting a phased modernisation roadmap designed and powered by Intellect.

Through this collaboration, Sampath Bank will modernise its corporate banking operations across cash management and supply chain finance, delivering a unified digital experience for its corporate and SME clientele.

The transformation will be anchored by two of Intellect’s flagship digital platforms:

n Cash Management System (CMS): A next-generation platform offering real-time liquidity visibility, automated payment workflows, and intelligent reconciliation, designed to enhance working capital efficiency for corporates.

n Supply Chain Finance (SCF): A dynamic platform that enables data-driven working capital optimisation, empowering the Bank to deliver flexible, transparent, and secure financing across supplier and distributor ecosystems.

Architecture of composability and intelligence

At the heart of this transformation lies Intellect’s eMACH.ai, a design-led architecture that brings together microservices, APIs, cloud, and AI into a unified platform. The composable design of eMACH.ai allows banks to build, integrate, and scale new business capabilities at speed – without disrupting existing systems.

For Sampath Bank, this means:

Speed to market – The ability to roll out new products and journeys faster than traditional monolithic systems allow.

Scalability and flexibility – The capacity to adapt to changing business environments and regulatory needs with minimal rework.

Embedded intelligence – Real-time analytics and predictive insights that drive smarter decisions across cash, trade, and supply chain ecosystems.

Open integration – Seamless interoperability with core systems, partner networks, and fintech ecosystems.

This composable and intelligent approach will enable Sampath Bank to continuously innovate, enhance customer experiences, and reinforce its position as a technology-driven leader in Sri Lanka’s financial landscape.

Sampath Bank Managing Director/CEO Sanjaya Gunawardana said: ‘This transformation marks a strategic leap towards building a digitally empowered, future-ready corporate banking ecosystem. By adopting Intellect’s eMACH.ai-powered platforms, we are strengthening our ability to deliver world-class experiences to our corporate and SME customer segment. We are excited to embark on this journey with Intellect and look forward to unlocking new innovation opportunities that reinforce Sampath’s leadership in digital banking.’

Intellect Design Arena Ltd. India and South Asia CEO S.V. Ramanan said: ‘Our partnership with Sampath Bank reflects Intellect’s unwavering commitment to reimagining banking through design, technology, and intelligence. With eMACH.ai, we are empowering Sampath Bank to build a composable and scalable digital ecosystem that accelerates innovation, improves operational efficiency, and delivers measurable business outcomes. This collaboration goes beyond platform deployment. It represents a shared vision to shape the future of corporate banking in Sri Lanka.’

Tucked away on the charming Alfred House Avenue in Colombo 03, ‘The A Cafe´ -also known as ‘The Avenue Cafe´ ‘ – opens its doors as more than just a place to eat. It is an experience thoughtfully designed for those who appreciate comfort, creativity, and real food made with heart. With its classic front porch welcoming guests at first glance, the cafe flows seamlessly into a cool, air-conditioned indoor dining space, private dining rooms for intimate gatherings, and an eco-friendly misty backyard filled with trees that instantly lifts the spirit and slows the pace of the day.

The cafe proudly serves American fusion cuisine twisted with authentic Sri Lankan flavours, creating dishes that feel both familiar and refreshingly new. Open daily from 9.00 a.m. to 11.00 p.m., The A Cafe´ invites early risers, casual brunch lovers, and late-night diners alike to enjoy food that tells a story.

The inspiration behind opening The A Cafe´ was simple yet powerful: to give Sri Lankans the chance to enjoy real food-food created through the collaboration of an American-inspired chef and a Sri Lankan entrepreneurial mastermind deeply rooted in Southern flavours. The result is a menu where cultures blend naturally. Imagine Galle-style coconut sambal paired with Italian basil pesto, generously spread over a crispy roast paan and crowned with a Colombo-style fried egg. Or a pan-seared kiri bath re-imagined and served with Indonesian-style laksa, delicately topped with a golden kataifi nest. Every dish is a conversation between regions, techniques, and memories.

Coffee and tea receive just as much attention. The A Cafe´ serves high-quality specialty coffee brews alongside an exclusive selection of teas. Guests can even host elegant tea parties, thanks to a custom- made tea cart created especially for the cafe by Basilur Tea. With 16 different tea varieties on offer, each tea service becomes a curated ritual rather than a simple pour.

From the moment guests walk in, The A Cafe´ offers a completely new dining experience-one that feels relaxed yet refined. For those eager to explore more, the lunch and dinner menu is available daily from 11.00 a.m. to 11.00 p.m., featuring the same bold fusion philosophy.

Operated under the trusted umbrella of The Avenue, The A Cafe´ carries forward the quality, service, and atmosphere that guests already love. With BYOB options, special event menus, and a unique backyard menu designed for groups of friends and families, the space easily transforms from a quiet cafe to a lively social hub.

The A Cafe´ is not just a cafe -it is a meeting point of cultures, flavours, and people. It is where Colombo mornings feel brighter, conversations last longer, and food tells stories that stay with you long after the last sip or bite.

Aitken Spence PLC was honoured among the Top 10 Companies at the inaugural EFC National Best Employer Awards 2025, held on 20th January 2026 at the Galle Face Hotel. The recognition reflects the Group’s longstanding commitment to being an ‘Employer of Choice’ and its purpose to ‘Inspire to Create Great Futures for All’.

The Employers’ Federation of Ceylon (EFC) launched the EFC National Best Employer Awards 2025 to identify and celebrate organisations that demonstrate exceptional people-centric practices and a strong commitment to social responsibility in their pursuit of business excellence within a global context. These awards aim to establish a credible and aspirational national benchmark for organisational excellence, while contributing meaningfully to the development of Sri Lanka’s workforce.

Group Chairperson, Ms. Stasshani Jayawardena commented: ‘We are deeply honoured to be recognised among the Top 10 at the inaugural EFC National Best Employer Awards. This accolade is a strong affirmation of our unwavering belief that an organisation flourishes when its people succeed. At Aitken Spence, we are guided by a legacy of integrity, responsibility, and innovation – principles that continue to shape our culture, so that talent is nurtured, voices are heard, and the possibilities are limitless.’

Group Chief Human Resources Officer, Mr. Suresh Muttiah added, ‘Being recognised among the Top 10 is a powerful endorsement of our commitment to shaping an inclusive, collaborative, and future-ready workplace that enables our people to thrive. This recognition strengthens our resolve to continue investing in our employees’ growth, wellbeing, and experience while inspiring our cultural transformation journey.’

Aitken Spence PLC is a leading diversified conglomerate headquartered in Sri Lanka, operating in more than ten countries across multiple sectors including tourism, maritime, logistics, plantations, power generation, and printing with a growing portfolio of new ventures. The Group’s legacy, spanning more than 157 years, has been deeply rooted in its dedication to responsible business operations, innovation, and the development of its people.

In today’s world, organisations are increasingly accountable for people excellence as opposed to traditional financial performances. Employer excellence has evolved into a defining differentiator under this circumstance. Toyota Lanka’s recent recognition as one of Sri Lanka’s Top 10 National Best Employers 2025 at the prestigious EFC National Best Employer Awards concretes its ‘people first – customer always’ philosophy.

EFC National Best Employer Awards is the country’s most credible national benchmarks for employer brand excellence and was held at Galle Face Hotel, on 20th January 2026. With the stringent criteria, the applicants were evaluated through a comprehensive, independent framework designed to identify institutions that showcase exceptional maturity in people management, leadership, culture, innovation, ethical governance and future readiness. In the year 2025, approx. 75 leading Sri Lankan organisations from a variety of sectors applied. Following a multi-stage evaluation and peer review process, 25 organisations were shortlisted for final assessment, of which the Top 10 National Best Employers were chosen from.

The inclusion of Toyota Lanka, places alongside some of the elite league of corporate entities. Notably, Toyota Lanka is the only entry from the automobility sector, truly a reflection as the leader in people excellence. At the core of Toyota Lanka’s recognition is its deep-rooted commitment to the ‘Toyota Way’, which is a globally respected philosophy built on two fundamental pillars: ‘Continuous Improvement and Respect for People’. Guided by the Toyota Global Vision 2030 and Toyota Lanka’s CSR and Sustainability Policy, which is outlined in the HR Framework / Handbook 2025. The company ensures continuous alignment of its people practices, business operations, and community initiatives with national development priorities and long-term societal wellbeing. This ensures Toyota Lanka’s people-first philosophy and customers-first extends beyond the workplace and contributes to broader economic, environmental and social progress.

Toyota Lanka’s people excellence is anchored in the corporate core values framework, TOYOTA LIFE, which denotes Loyalty, Integrity, Fairness, and Ethicality, forming the foundation of Toyota Lanka’s mission to ‘create delighted lifetime customers and lifetime delighted employees,’ reinforcing the belief that sustainable success begins with its people.

Recognising human capital as its most valuable resource, Toyota Lanka has embedded TOYOTA LIFE values across its people strategy, leadership practices, and workplace culture. Loyalty reflects organisation’s commitment to building long-lasting trust with employees, fostering dedication and alignment to the brand. Integrity guides transparent decision-making and ethical conduct, ensuring honesty and accountability remain central to employees and customers. Fairness underpins equity across the organisation, demonstrating justice, whilst Ethics shapes responsible business practices to safeguard stakeholder interest to remain a global powerhouse in driving TOYOTA VISION.

TOYOTA LIFE governance model emphasizes empowering employees, fostering mutual respect and encouraging collective problem-solving. Instead of seeing Human Resources as a strategic, business and operative function, Toyota Lanka treats its people strategy as a central driver of market dominion led performance, resilience and sustainability. Strategic HR Excellence is one of the five core dimensions, which evaluates the extent to which people practice actively drives engagement and employee happiness through business impact-driven HR initiatives.

From talent acquisition and onboarding to learning, performance management, and career progression, Toyota Lanka’s people practices have been designed with a global-to-local blended practices to create people-business value creation. People development intervention focuses, leadership pipelines, bench strength, people, digital and green skills whilst upgrading Toyota’s technical mastery.

Toyota Lanka Auto Academy (TAA), the industry’s flagship skills development institute, is playing a key role in strengthening the local technical workforce. More than 1500 trainees from leading vocational institutes such as NAITA and AETI have received world-class training in automotive, hybrid and mechatronics. It has also fortified 275 graduates, with jobs opportunities overseas, thus contributing to global skill demand with foreign income generation.

Toyota Lanka provides technical assistance to regional countries such as India, Maldives, Nepal, Bhutan, Brunei, Bangladesh, Seychelles, Laos, Cambodia, inclusive Zambia and SaudiAarabia in Middle east and African nations. We continue to assist local Tech Colleges by the Hybrid Technology Learning Centre to AETI, and its strategic partnerships with the University of Colombo and the University of Peradeniya under the JICA Chair Programme reinforcing the nation’s future tech capability and innovation.

Toyota Lanka’s commitment to employee wellbeing is also of equal importance. The company recognises that sustainable performance goes hand in hand with physical, mental and emotional health. The organisation has invested in initiatives that promote work-life management and psychological safety as tangible, measures for success factors for operational and people pulse.

A critical pillar of the EFC evaluation framework is Leadership and Organisational culture. Toyota Lanka’s success in this area is solidified by CEO-Employee led ownership of the people strategy, linking to Human Resources and functional strategy champions at the highest possible value delivery to the company. As opposed to delegating culture-building solely to HR, Toyota Lanka’s leadership plays a very active role in reshaping values, through competencies, which is referred to as ‘Book of Business Behaviours’ across the company. The top-down approach and bottom up (gembality) have led to a culture of trust, transparency with responsibility and accountability exemplified.

Toyota Lanka’s inclusive and value-drive culture has been a clear differentiator. Employees are encouraged to speak, share problems, ideas for continuous improvement initiatives thus giving a vitamin to voice.

The company’s strong performance in Ethics and Compliance, especially in an environment where corporate integrity is under continuous scrutiny, further fortified its standing as a national benchmark employer. Toyota Lanka demonstrated robust governance structures, adherence to ethical standards, and full compliance to labour laws and regulatory requirements whilst ethical leadership has led to stronger stakeholder trust for longevity.

Toyota Lanka’s ethical governance and people-centric leadership are further reinforced by its brand reputation. Recognized by LMD as Sri Lanka’s Most Loved Automobile Brand, Most Loved Brands Awards 2024, and ranked No. #1 Product Brand and No. #1 Most Loved Brand at the LMD Brands Annual 2025 reflecting deep consumer trust, built on respect, quality, durability, and reliability. It’s brand value proposition.

The fifth core evaluation dimension, DX (digital transformation) is the future readiness to anticipate and respond to future business needs. Toyota Lanka invests in digital HR transformation playing a significant role. By leveraging digital platforms, has enhances HR processes, data-driven decision-making and employee experience (EXp) helping to improve efficiency, whilst enabling greater accessibility. Digital initiatives support workforce planning, E-learning and performance tracking, ensuring the company remains at the forefront and relevant in the tech era.

Moving beyond systems and tools, Toyota Lanka has laser beam focus on building a future-proof workforce equipped with competencies of innovation and digital to adapt to EV and NEV shift for the energy transition and industry dominion.

Environmental stewardship remains central to Toyota Lanka’s CSR philosophy. Through Its lean – green strategy guides, solar energy initiatives, and employee-led tree planting campaigns, the company actively contributes to Sri Lanka’s green transition goals. All Toyota Lanka facilities over 20plus operate in compliance with ISO 14001:2015 environmental management standards. It is the first automobile company to secure ISO QMS, EMS and OHSMS in the industry.

One of the defining criteria of the EFC National Best Employer Awards is the evaluation of national and socio-economic contribution. Toyota Lanka’s sustained investment in skill development and human capital (HC) growth, extends beyond local boundaries. Through the implementation of global training programs for local capability development initiatives, Toyota Lanka has played an integral part in the national skill curriculum of the automotive and mobility industry. The evaluation panel recognised Toyota Lanka’s contributions as tangible and impactful, aligning corporate success with national skill development priorities.

Toyota Lanka’s people-first philosophy extends into the communities it serves. Initiatives such as the Dream Car Art Contest, Road Safety Awareness Campaigns, and Children’s Day celebrations across branches promote innovative thinking, creativity, safety consciousness, and family engagement, strengthening social bonds fostering shared values beyond the workplace. During COVID-19 as a national relief effort, Toyota Lanka donated 2 Coaster buses valued at Rs. 20 million to the government exhibiting our commitment to standing with the nation in times of crisis.

The significance of Toyota Lanka’s recognition is further enhanced by the credibility of the award itself. The whole award process was governed by a dedicated EXCO Committee and assisted by globally acclaimed Ernst and Young (EY) and Deloitte, and this is to ensure independence and transparency throughout the evaluation process is underscores the depth and authenticity of Toyota Lanka’s people excellence journey.

Top 10 National Best Employer is more than an award. It is a testament to the company’s long-term commitment in creating a workplace that defines customer centric marketplace. As the sole automotive company with a clear distinction, Toyota Lanka has set a benchmark as a multinational mobility corporation and beyond.

As a Sri Lankan corporate, navigate in an increasingly complex economics and technological landscapes, the example of Toyota Lanka manifests that success is built on respect for people, ethical leadership, innovation and futurism. Guided by its mission to create delighted lifetime customers and lifetime delighted employees, Toyota Lanka remains committed in nurturing a people-first, customer-first culture that drives the future of work in Sri Lanka.

The Advocata Institute yesterday said that any move by the Government to revive or accommodate vehicle permit concessions for a select group of retired senior public officials would undermine governance credibility, weaken public trust, and dilute Sri Lanka’s economic reform effort.

In a statement, the economic policy think tank said that according to remarks made in Parliament, 1,900 permits have already been issued under this concessional scheme for senior officials, with 563 permits issued in 2025 alone. ‘Meanwhile, ordinary citizens endure an extended vehicle import ban and some of the highest effective taxes on personal transport vehicles in the world,’ Advocata said.

Its statement is as follows:

During the presentation of the 2026 Budget Proposal, President Anura Kumara Dissanayake declared: ‘There will be no permits. The permit culture must end in Sri Lanka.’

Advocata welcomed this commitment, recognising permit culture as a relic of a feudal system, not a feature of a modern economy. It is a system that has, for decades, rewarded privilege over performance, entrenched inequality, and undermined the credibility of the State. The President’s affirmation offered renewed hope that Sri Lanka was finally moving towards transparent and equitable reform.

To now entertain exemptions for a select group sends a dangerous signal about reform credibility. Even policies publicly acknowledged as corrosive have the potential to quietly return.

Normalising State-sanctioned privilege

Vehicle permits are not compensation. They are discretionary privileges, operating as hidden transfers of public wealth to a privileged few, while the broader population absorbs higher taxes and reduced services. Worse still, they place retirement benefits at the mercy of political discretion, turning professional civil servants into political dependents rather than accountable public servants.

Therefore, it is precisely the high-ranking officials that must lead by example.

In December 2010, Transparency International Sri Lanka revealed that the majority of 65 newly elected Parliamentarians, including 2 Cabinet Ministers, sold their duty-free vehicle permits for as much as Rs. 17 million each, when adjusted for inflation. Using Department of Census and Statistics figures, that windfall is equivalent to which, adjusted for inflation, sits at approximately Rs. 48 million today.

In December 2012, in an event the media classified as a ‘Christmas Bonanza for MPs,’ the Government granted permission for MPs to openly sell their duty-free permits. At the time, they sold for Rs. 20 million each, which, adjusted for inflation, sits at approximately Rs. 50 million today.

In October 2016, Nagananda Kodituwakku, an Attorney-at-Law and rights activist, wrote to the Commissioner General of Motor Traffic, naming 75 MPs who imported luxury vehicles, including BMWs, Mercedes-Benz, Land Cruisers, and even a Hummer. The total tax waived per MP ranged from Rs. 30 million to Rs. 44.7 million. In today’s terms, this range approximately translates to between a staggering Rs. 66 million and Rs. 98.5 million.

History demonstrates the scale of abuse enabled by this system.

Towards integrity

As Advocata has previously highlighted, Sri Lanka’s cascading tax structure drives effective import duties on most passenger vehicles into the 125-250% range. Every duty-free permit therefore represents a direct fiscal loss; revenue that must be recovered through higher taxes elsewhere or reduced public services for everyone else. Since 2020 alone, more than 25,000 duty-free permits have been issued to Government employees, including during the height of the economic crisis.

Making exceptions now would set a dangerous precedent. It signals to every remaining permit holder that persistence will be rewarded, inevitably triggering lobbying pressure and further demands for carve-outs. This is how temporary ‘concessions’ become permanent entitlements. Once reopened, the system cannot be credibly contained.

From an economic and governance perspective, reintroducing selective exemptions would undermine public confidence in fiscal consolidation, weaken the credibility of reform commitments, and damage investor perceptions of Sri Lankan regulatory stability and policy consistency.

The appropriate solution lies in transparent, on-budget salary structures, subject to Parliamentary oversight. Crucially, they must compensate public servants fairly without undermining fiscal discipline or institutional integrity, avoiding the distortions created by discretionary privilege schemes.

Advocata calls on the Government to take the following actions: Abandon plans to allow vehicle imports under existing duty-free permits; commit to permanently ending vehicle permit schemes, replacing them with clear and transparent salary frameworks subject to Parliamentary oversight; and legislate a prohibition on duty-free vehicle permits for public sector officials, safeguarding against future reversals and ensuring consistent policy application.

Sri Lanka cannot rebuild trust while preserving elite carve-outs. Reform commitments retain credibility only when they are applied consistently – without selective exemptions.

The Indian High Commission yesterday issued a statement regarding the assaults on Sri Lankan fishermen at sea allegedly by Indian personnel.

In the statement, it was acknowledged that they had seen media reports of Sri Lankan fishermen assaulted at sea on 29 January.

‘We have ascertained and can confirm that no such assault was inflicted by any Indian Navy or Indian Coast Guard personnel,’ it noted.

The statement added that India has consistently maintained that a humanitarian approach should be adopted to fishermen’s livelihood concerns and that the use of force should not be resorted to under any circumstance.

‘We continue to be in touch with the Government of Sri Lanka on these matters,’ the High Commission assured.

Hayleys was ranked among Sri Lanka’s Top 10 National Best Employers at the inaugural EFC National Best Employer Awards 2025, organised by the Employers’ Federation of Ceylon (EFC).

The event, held on 20th January 2026 at the Galle Face Hotel, brought together senior business leaders, policymakers and global thought leaders to celebrate organisations that place people at the heart of sustainable business success.

The new awards framework marks a milestone in Sri Lanka’s corporate landscape by recognising organisations that demonstrate excellence across five dimensions – Strategic HR, Leadership and Culture, National and Socio-Economic Contribution, Ethics and Compliance and Digital Transformation. It highlights companies that balance commercial performance with human-centred leadership, ethical governance and meaningful national impact.

Securing a place among the Top 10 reaffirms Hayleys’ reputation as one of Sri Lanka’s most respected employers, driven by strong values, inclusive leadership and a people-first philosophy that has defined the Group for nearly 150 years.

A legacy built on people and purpose

Founded in 1878, Hayleys has grown into one of Sri Lanka’s largest and most diversified conglomerates, with 17 diverse sectors of businesses spanning manufacturing, agriculture, logistics, consumer products, leisure and services and a strong global footprint. Despite its scale and complexity, the Group has remained anchored in a simple but powerful belief: people are the greatest source of sustainable competitive advantage.

Today, Hayleys employs over 38,000 people, representing diverse backgrounds, skills and communities across Sri Lanka and overseas operations. This diversity is unified by a shared purpose – to inspire an inclusive world and a thriving planet – and by the HAYLEYS and I values framework, which emphasises integrity, accountability, teamwork, respect for humanity, innovation and social responsibility. Far from being aspirational statements, these values shape leadership behaviour, inform decision-making and guide how the organisation engages with employees, partners and communities.

Being recognised among Sri Lanka’s Top 10 National Best Employers affirms how deeply these values are embedded into the lived employee experience across the Hayleys Group.

Strategic HR excellence at national scale

Managing talent across multiple industries and geographies demands systems that balance consistency, inclusivity, and agility.

Hayleys has made sustained investments in learning and development, recognising that capability building underpins both individual progression and organisational resilience. A dedicated Talent Development function drives structured programmes across leadership development, technical and functional skills, and succession planning. Employees at all levels are supported through continuous learning opportunities aligned to business strategy and personal growth aspirations.

Performance management frameworks focus not only on outcomes, but also on behaviours aligned with the Group’s values framework. Regular feedback, clear goal-setting and transparent appraisal processes help employees understand how their roles contribute to broader organisational success. Complementing this, recognition programmes celebrate excellence, innovation and collaboration, reinforcing a culture where contribution is visible and valued.

Compensation and benefits are designed with fairness, competitiveness and long-term well-being in mind. Beyond remuneration, Hayleys places strong emphasis on benefits that support employees and their families, reflecting a holistic understanding of responsible employment in today’s context.

Leadership, culture and well-being

At the heart of Hayleys’ employer value proposition is a human-centred leadership philosophy grounded in trust, empathy and accountability. Leaders are expected to deliver results while creating environments where people feel respected, heard and empowered-an expectation that carries particular significance in large, operationally intensive businesses.

Work-life balance initiatives, structured employee feedback mechanisms and continuous improvement practices contribute to a culture of openness and engagement. Employees are encouraged to share ideas, raise concerns and actively shape their workplaces, strengthening belonging and long-term commitment.

Well-being is viewed as both a strategic and moral imperative. Group-wide health and wellbeing initiatives, access to professional psychological support, preventive medical programmes and robust occupational health and safety systems reflect a genuine commitment to caring for people. Implemented at scale, these initiatives benefit employees across sectors and regions, while also extending positive impact to families and communities.

National impact, ethics and shared achievement

As one of the country’s largest employers, Hayleys contributes significantly to Sri Lanka’s socio-economic fabric, supporting tens of thousands of indirect livelihoods through suppliers, smallholders, and service partners. Inclusion, diversity, and community engagement remain central to this contribution.

Ethical governance continues to underpin the Group’s identity, with strong codes of conduct and transparent policies cultivating trust and pride among employees.

While the EFC National Best Employer Award provided the platform, the achievement belongs to the 38,000-strong Hayleys family – whose passion, resilience, and shared purpose continue to drive the Group forward.

Being recognised among Sri Lanka’s Top 10 National Best Employers reaffirms a long-standing truth at Hayleys: our people are our greatest asset.

Rooted in heritage, strengthened by innovation and driven by purpose, Hayleys continues to set a benchmark for employer excellence in Sri Lanka.

Commercial Bank of Ceylon PLC has been ranked among the Top 10 Companies at the EFC National Best Employer Awards 2025, an accolade presented by the Employers’ Federation of Ceylon.

This recognition reflects the bank’s sustained commitment to placing its people at the centre of its strategy, acknowledging that a highly engaged and empowered workforce is critical to delivering long-term business success.

At Commercial Bank, employees are regarded as the bank’s most valuable asset. The organisation adopts a strategic and holistic approach to human capital management, combining talent development, succession planning, and leadership cultivation. Through structured learning programs, mentoring, and performance-driven initiatives, the bank ensures its workforce is equipped to meet evolving market demands while embodying the core values of integrity, accountability, and professionalism.

The recognition also underscores its commitment to diversity, equity, and inclusion (DEI). Commercial Bank fosters an environment where all individuals, irrespective of gender, background, or experience, are provided equal opportunities to grow and excel. By promoting inclusive leadership and equitable access to development programs, the bank cultivates a workforce that reflects its principles of fairness, mutual respect, and meritocracy-essential elements for sustainable organisational success.

In parallel with professional development, Commercial Bank places significant emphasis on employee well-being and engagement. Comprehensive wellness initiatives, work-life balance programs, and supportive workplace policies contribute to a culture in which employees feel secure, motivated, and valued. The bank recognises that a healthy, empowered workforce is foundational to resilience, productivity, and innovation.

As it charts a ‘Digital by Default’ strategy, Commercial Bank continues to invest in equipping itsworkforce with the skills required to excel in a rapidly evolving financial landscape. Upskilling, digital literacy, and innovation-led initiatives ensure employees remain agile and capable of delivering superior value to customers in an increasingly technology-driven environment.

Sustainability and corporate responsibility remain integral to the bank’s corporate ethos. As Sri Lanka’s first 100% carbon-neutral bank, Commercial Bank aligns its human capital practices with broader environmental and social commitments, reinforcing a corporate identity that balances economic growth with responsible business practices.

This recognition by the Employers’ Federation of Ceylon affirms Commercial Bank’s strategic focus on its people as the primary drivers of organisational excellence. By cultivating an environment that nurtures talent, promotes engagement, and enables leadership development, the Bank continues to strengthen its position as a forward-looking, resilient, and people-centric organisation.

Commercial Bank of Ceylon remains committed to building a sustainable legacy where employees thrive, innovation is encouraged, and organisational objectives are achieved with excellence and integrity. In doing so, it not only advances its strategic priorities but also contributes meaningfully to the broader growth and development of Sri Lanka’s financial sector.