Asianet Pakistan Private Limited

The recently concluded 17th Asia Cup exposed several frailties in the Sri Lanka T20I cricket team’s line-up which, if not properly addressed, could see them faltering in the upcoming ICC T20 World Cup as well.

That could be quite detrimental not only to the players but more so to the coaching staff whose every move is under scrutiny by the detractors.

Sri Lanka has shown that they are not short of talent or inspiration to perform at their best against any opposition like they did against eventual Asia Cup champions India in their final Super Fours game which ended in a tie and subsequently won by India in the super-over.

The 2025 Asia Cup for Sri Lanka has been all about the extraordinary batting of Pathum Nissanka who is gradually scaling the heights that our past legends have reached. Currently, he is in a different plane compared to the rest of his team mates when it comes to batting.

The biggest problem with the team leaving aside composition and team selections is lack of consistency in their performances. This team performs in a blow hot blow cold manner that leaves everyone exasperated doubting their ability to perform under pressure. One day they are brilliant, the next rather ordinary. Champion teams don’t perform in that manner. India is a great example of how champion teams perform. They won each and every match of the Asia Cup to lift the title for the ninth time in the tournament’s history.

When Sri Lanka won the 1996 Cricket World Cup, they did the same, winning every game they played although two of the group games were walk-overs due to Australia and West Indies concern over security.

What has been quite noticeable with the present team is that when Pathum Nissanka or Kusal Mendis delivers the team always wins. This should not be the case, for the middle order too has to contribute. The issue here is that the momentum given by the two openers in the power play is not continued by the middle order batters. This is an area that needs to be rectified quickly for Sri Lanka is running short of time as they keep on experimenting with their middle order. At least by now they should have a settled middle order. You cannot go to a world event without having a stable batting line-up.

The lack of a pinch-hitter at the crucial no. 6 position is also hurting Sri Lanka a lot. The other aspect is that Sri Lanka must decide once and for all whether they are comfortable going with a 7-4 combination or a 6-5 combination for their matches. A 7-4 combination tried out during the Asia Cup left them short of a fifth bowler, resulting in part-time bowlers trying to do the job and leaking extra runs. A 6-5 combination (where the fifth bowling option should be an all-rounder) is what should be giving the captain the opportunity of getting the opposition out or restricting them. This would mean more responsibility on the six batsmen to deliver. If the top six cannot put enough runs on the board they are not worthy of their place in the team.

Sri Lanka Cricket (SLC) has sacrificed Test matches to include more white ball games this year to prepare the team for the T20 World Cup. Thus, it is imperative that the opportunity is made use of fully. The repercussions that could follow if they fail to fulfil the requirements of the nation, can have far reaching consequences.

Leading technology solutions provider N-able was recognised as “Partner of the Year – AI Solutions” at the recent EGUARDIAN Click 2025 Awards Night. The award was in recognition of one of N-able’s standout global AI projects in Automation, whilst recognizing N-able’s growing role in taking Sri Lankan innovative engineering solutions to global markets.

The achievement recognized the innovation and impact of N-able’s project delivered in the last year, which introduced an AI-driven approach to simplify and accelerate operations. By combining conversational AI with business process automation, the solution introduced agentic AI capabilities to handle exceptional situations that cannot be handled using traditional automation techniques. The solution significantly reduced manual work and improved efficiency across multiple sites, delivering clear operational benefits for the client.

Commenting on the achievement, Amila Hendahewa, Head of Technology for Digital Business Automation, stated: ‘This award recognised not just the success of a single project but also the strength of applying AI to solve practical business challenges. It showed how Sri Lankan technology talent can deliver solutions that work at scale, even in international markets.’

EGUARDIAN emphasized its strong partnership with N-able, reflecting on the positive impact created so far and its vision to deliver even greater value to customers together.

The EGUARDIAN Click 2025 Awards Night, hosted annually by EGUARDIAN to celebrate technology partnerships, innovation, and customer impact across industries, brought together key players from the regional ICT sector.

An eight-member team from Ceylinco Life recently attended a five-day training program in Kuala Lumpur, Malaysia, on the theme ‘Lead Forward’. The program focused on Agency Management and provided insights into building stronger, future-ready sales teams.

Training sessions covered a wide spectrum of topics including profitable agency management, dynamic agency building through effective systems, gearing up for affluent markets, creating leaders within agencies, the growing importance of adaptive tech-savvy leadership, and cultivating the Million Dollar Round Table (MDRT) mindset.

The sessions were conducted by eight accomplished Group Sales Managers from Great Eastern Life Insurance in Malaysia and Singapore, led by industry veteran K. Haridas. The program also included office visits to high-performing Group Sales Managers of Great Eastern Life and MCIS Life Insurance Malaysia, where the participants experienced first-hand how successful agencies are run in the region.

This initiative reflects Ceylinco Life’s continuing commitment to enhancing the professional skills and leadership capacity of its team to better serve policyholders, the company said.

Siyapatha Finance PLC yesterday said that it has appointed its Chief Strategy Officer Mathisha Hewavitharana as CEO-designate with effect from 1 October.

Hewavitharana possesses over 20 years of experience in the financial services industry, having commenced his professional journey in 2005 at Siyapatha Finance PLC.

His career has encompassed a wide array of functional areas, including Marketing, Credit, Branch Operations, Branding and Marketing Communications, Product and Business Development, and Strategic Planning and Execution.

Over the course of his tenure at Siyapatha Finance PLC, Hewavitharana has progressively advanced through several senior leadership roles.

In his current capacity as Chief Strategy Officer, he has been entrusted with critical responsibilities aligned with the company’s succession planning framework.

Hewavitharana is a graduate of the University of Colombo, where he earned a Master of Business Administration in General Management and a Bachelor of Business Administration with a specialisation in Marketing Management

He holds a Professional post-Graduate Diploma in Marketing (UK) with MCIM and Chartered Marketer status, a Certified Chartered Management Accountant (UK) with CGMA, ACMA status, an Advance Diploma in Banking and Financing from Banking Institute of Sri Lanka with AIB membership status, and an Associate Membership at Sri Lanka Institute of Marketing with a Practicing Marketer status.

DFCC Bank PLC yesterday said that its Colombo Stock Exchange-listed Green Bond has also been listed on the India International Exchange.

The bank said that this was the third overseas listing with previous listings on the Luxembourg Stock Exchange and National Stock Exchange International Exchange India. DFCC Bank is the first foreign corporate entity to list a Bond on the India International Exchange.

The trading and settlement of the Green Bond will continue to be through the CSE and in LKR and will not be traded on the India International Exchange, the bank said.

The Sri Lanka Logistics and Freight Forwarders Association (SLFFA) yesterday urged the Government to urgently reconsider the recent changes to the Simplified Value Added Tax (SVAT) scheme, warning that the move could have serious implications for the logistics and export sectors.

In a statement, SLFFA highlighted that the withdrawal of SVAT for exporters and related service providers has created additional cash flow burdens on companies already grappling with tight margins, fluctuating global freight rates, and rising operational costs.

The association stressed that logistics plays a pivotal role in supporting Sri Lanka’s export competitiveness, and the SVAT mechanism had long served as a crucial facilitator by eliminating unnecessary delays and administrative bottlenecks in VAT refunds.

Logistics solutions providers relied on SVAT across a wide range of operational expenses, including utilities, fuel for transport solutions, warehouse and office rent, capital purchases, and outsourced haulage costs.

According to the association, forcing these items back into the standard VAT refund cycle risks immobilising significant amounts of working capital and increasing administrative inefficiencies.

‘Exporters depend heavily on efficient supply chains. By removing SVAT, companies will now face blocked working capital and prolonged refund cycles, which in turn weakens the ability of the sector to remain competitive in the international market,’ said SLFFA Chairman Channa Gunawardena.

Echoing similar concerns, Vice Chairman Andre Fernando pointed out: ‘The SVAT system was not merely about tax efficiency; it was about building confidence in our logistics and export industries. Sudden reversals like this create uncertainty and discourage investment at a time when Sri Lanka needs stability to attract global trade flows.’

SLFFA Treasurer Shavindra Dias added that the financial impact is already being felt across the sector: ‘Without SVAT, companies are left to bear unnecessary financial stress. This limits their ability to reinvest in infrastructure, technology, and talent, all of which are vital to driving the country’s export growth.’

SLFFA also cautioned that the added financial strain could discourage investment, reduce foreign exchange inflows, and ultimately undermine the country’s national export strategy. The group has called for constructive dialogue between policymakers, exporters, and service providers to craft a pragmatic framework that ensures fiscal discipline while protecting industries vital to Sri Lanka’s economic recovery.

Industry stakeholders argue that SVAT was not merely a tax simplification tool but a strategic enabler for sectors generating foreign exchange. Removing it without an alternative mechanism risks eroding the hard-earned trust of global trading partners who rely on Sri Lanka for timely and cost-effective logistics solutions.

The association urged authorities to take into account the lessons from past policy reversals, where sudden changes have led to uncertainty and eroded investor confidence.

‘At a time when the country is striving to rebuild its economy, it is imperative that fiscal measures are aligned with the broader goal of strengthening exports and securing foreign revenue,’ the SLFFA said.

The logistics and freight forwarding community now awaits the Government’s response, with many calling for the reinstatement of SVAT or the introduction of a streamlined mechanism that preserves the cash flow efficiency and competitiveness of Sri Lanka’s export sector, it said.

LB Finance Al-Salamah, has been recognised for its contributions and commitment to excellence at the 10th IFFSA Awards 2025 – Islamic Finance Forum of South Asia. The financial institution was honoured with a series of accolades, underscoring its leadership, innovation, and sustainable practices within the industry.

The comprehensive recognition received by LB Finance Al-Salamah highlights its multi-faceted strengths and dedication to advancing Alternate Financial Service (AFS) in the region. The awards include:

Gold Award for ESG (Environmental, Social, and Governance): This esteemed award acknowledges LB Finance Al-Salamah’s commitment to integrating responsible environmental, social, and governance practices into its core operations. It reflects the institution’s dedication to sustainable finance and its positive impact on the community and environment.

Silver Award for Digital Product/Fintech Offering: In an era of rapid digital transformation, this award celebrates LB Finance Al-Salamah’s innovative strides in developing cutting-edge digital products and Fintech solutions. It recognises their success in leveraging technology to enhance accessibility, efficiency, and customer experience in Islamic financial services.

Gold Award for Rising Star of the Year (Male) presented to Ahsan Munaf: This individual honour shines a spotlight on the exceptional talent and promising future of Ahsan Munaf, recognising his remarkable achievements and potential within the AFS sector. It underscores LB Finance Al-Salamah’s commitment to nurturing and empowering its human capital.

15th Year Celebration in the Industry presented to LB Al-Salamah: This special recognition marks a significant milestone for LB Al-Salamah, commemorating 15 years of dedicated service and impactful contributions to the AFS industry. It is a testament to their enduring legacy, stability, and continuous growth since their inception.

The 10th IFFSA Awards serve as a vital platform for recognising excellence and fostering innovation within the AFS landscape of South Asia. The accolades received by LB Finance Al-Salamah not only celebrate their past achievements but also reaffirm their position as a trailblazer in ethical and sustainable financial solutions.

LB Al-Salamah Area Manager Channel Development Ahsan Munaf said, ‘We are incredibly proud and humbled to receive such significant recognition at the 10th IFFSA Awards.’

AFS Head Fawaz Fazal said, ‘These awards are a testament to the hard work and dedication of our entire team, our commitment to innovation, and our unwavering focus on providing value-driven AFS. We extend our sincere gratitude to our customers and stakeholders for their trust and continued support, which inspires us to reach new heights.’

One of the greatest concerns consumers have about choosing an electric vehicle is range anxiety from running out of charge, especially in a deserted area. Carmart provided a solution to this with the Leapmotor C10 REEV (Range Extender EV) – an electric SUV that doesn’t need to be plugged in and charged.

The C10 SUV can be used like a normal EV around town yet has the flexibility of being able to travel up to 1150km, thanks to its built-in generator that recharges the battery while on the move.

Leapmotor is supported in Sri Lanka by Carmart, the exclusive Peugeot importer and authorised repairer for over 75 years, and backed globally by Stellantis, Europe’s second-largest carmaker; and home to 15 brands including Peugeot and Maserati – whose engineers fine-tuned the C10’s suspension to give it a premium feeling drive.

Consumers can experience Leapmotor models alongside their Peugeot counterparts at the newly renovated Stellantis Brand House concept showroom on Union Place, Colombo 2 – the first of its kind in the South Asian region.

The C10 blends sleek design with everyday practicality. A spacious interior offers family-friendly comfort, advanced infotainment, and refined styling. Safety remains paramount, with a 5-star Euro NCAP rating covering adults, children, and pedestrians, supported by cutting-edge driver-assistance systems. Ownership peace of mind comes with an 8-year battery warranty and a 4-year/120,000 km vehicle warranty, with an extended warranty also available.

Carmart CEO Yasendra Amarasinghe gives Managing Director Senaka Amarasinghe an inside look at newly unveiled Leapmotor C10 and its innovations

‘We are at a defining era for EVs in Sri Lanka,’ said Carmart CEO Yasendra Amerasinghe. ‘Trust – of both the brand and the local distributor – is what truly matters. With Stellantis and Carmart behind it, customers can choose Leapmotor with confidence.’ The Leapmotor C10 is now available for viewing and test drives at Carmart, 424 Union Place, Colombo 2, with a limited-time introductory launch offer starting from just Rs. 17.4 million for the full EV, and Rs. 20.95 million for the REEV. Deliveries commence in October for those lucky enough to be on the pre-sales list.

For motorists seeking flexibility, quality, safety, great value, and the assurance of a trusted global-local partnership, the Leapmotor C10 represents the future of premium electric mobility.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) yesterday announced that it has formally presented its proposals for the forthcoming National Budget 2026 to the Government.

The proposals presented by CA Sri Lanka addresses several critical pillars of fiscal management, including policy planning and implementation, the establishment of a Tax Ombudsman, enhancing strategic trade policy and broadening the export base.

It also included reforming the tax system to ensure equity and drive growth, reducing cash usage and promoting digital transactions, amendments to the administrative provisions, transformations within the State Sector, and strengthening fiscal discipline through the Public Finance Management Act.

The proposal was presented to Finance Secretary Dr. Harshana Suriyapperuma. The delegation was led by the CA Sri Lanka President Heshana Kuruppu, together with Members of Council.

In addition to the budget proposals, CA Sri Lanka also presented the findings of its comprehensive Tax Perception Survey to Dr Suriyapperuma. The survey provides invaluable, data-driven insights into the perspectives of Chartered Accountants on the current tax system, offering a critical evidence base for future reforms and improvements.

Kuruppu said that as the national body of accountants, CA Sri Lanka has a profound responsibility to actively contribute to the economic dialogue of the country.

‘Our proposals for the National Budget 2026 are not merely recommendations, but they are the culmination of rigorous research and expert analysis from our members who are at the forefront of the economy,’ he said.

‘We believe that implementing these measures will be pivotal in enhancing revenue collection, ensuring equity, fostering a conducive environment for investment, and ultimately driving sustainable economic growth for all Sri Lankans,’ he added.

The Colombo stock market yesterday opened the week on the up with plantation stocks driving turnover and the bourse extending its bullish run for more than a week.

The benchmark ASPI closed 0.36% higher on yesterday, up 77.31 points to 21,676.20 while the active S and P SL20 closed 0.13% higher, up 7.64 points to 6,119.21.

Turnover was Rs. 4.2 billion on more than 131.6 million shares traded. Foreigners were net sellers yesterday with a net outflow of Rs. 15.6 million, down from a Rs. 155 million outflow on Friday.

First Capital Research said that the Colombo Bourse kicked off the week on a positive note, marked by a wave of bullish sentiment. The ASPI posted a gain of 77 points and closed at 21,676, strengthened by plantation sector counters and conglomerates.

CARS, MELS, JKH, NAMU and WATA were the top positive contributors to the index. Moderate retail participation was chiefly observed on Plantation sector counters, whereas HNW participation was lower during the session.

Turnover for the day stood at Rs. 4.3 billion, reflecting a decrease of 41% compared to the monthly average that stands at around Rs. 7.2 billion.

The Food, Beverage and Tobacco sector took the lead with a share of 26%, while Diversified Financials sector and Capital Goods sector jointly contributed to 31% of the total turnover.

Additionally, buying sentiment towards the Banking sector has been lowered. Foreign investors remained net sellers, recording a net outflow of Rs. 15.6 million.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Carson Cumberbatch, Melstacorp and John Keells Holdings with the turnover crossing Rs. 4.2 billion.

A similar behaviour was witnessed in the S and P SL20.

High net worth and institutional investor participation was noted in Commercial Bank, Renuka Foods and Prime Lands Residencies.

Mixed interest was observed in LB Finance, Associated Motor Finance Company and Watawala Plantations whilst retail interest was noted in Kotagala Plantations, SMB Leasing and LVL Energy Fund.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Kotagala Plantations) whilst the sector index gained 2.35%.

The share price of Kotagala Plantations gained Rs. 0.80 (8.42%) to close at Rs. 10.30.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Associated Motor Finance Company, LB Finance and Galle Face Capital Partners) whilst the sector index decreased by 0.44%.

The share price of Associated Motor Finance Company moved down by Rs. 11.90 (12.98%) to close at Rs. 79.80.

The share price of LB Finance recorded a loss of Rs. 0.25 (0.16%) to close at Rs. 153. The share price of Galle Face Capital Partners appreciated by Rs. 4.80 (5.88%) to close at Rs. 86.50.

Prime Lands Residencies was also included amongst the top turnover contributors. The share price of Prime Lands Residencies increased by Rs. 1.80 (5.52%) to close at Rs. 34.40.