NDB Wealth Growth Fund delivers over 170% return since 2023

The NDB Wealth Growth Fund said it has once again showcased its ability to deliver consistent and market-leading performance, posting an impressive year-to-date (YTD) return of 37.11% as of 30 September 2025. This follows exceptional returns of 44.96% in 2024 and 37.47% in 2023, marking three consecutive years of outstanding growth.

Since the beginning of 2023, the Fund has generated a cumulative return of over 170%, significantly outpacing the ASPI return of 156.53%. This remarkable track record is a testament to the Fund management team’s disciplined approach in identifying high-conviction growth opportunities and maintaining agile capital allocation strategies.

NDB Wealth said that the results reaffirm the Growth Fund’s position at the forefront of market innovation, delivering substantial value to its investors. With macroeconomic headwinds easing and secular growth trends gaining momentum, the Fund remains committed to capturing long-term value creation opportunities.

As Sri Lanka’s domestic economy continues its recovery and interest rates decline to single-digit levels, investors are increasingly exploring equity-based solutions to achieve stronger, tax-efficient returns. The NDB Wealth Growth Fund provides such an opportunity through a professionally managed, diversified equity portfolio, designed to deliver sustainable capital growth over the medium to long term.

With a minimum investment of just Rs. 5,000, the Fund offers an accessible gateway for investors to participate in the growth of established companies with strong fundamentals and proven track records.

For investors seeking to capitalise on the country’s evolving growth story, the NDB Wealth Growth Fund said it stands out as a reliable partner, delivering consistent returns while staying aligned with long-term wealth creation objectives.

AKD says Rs. 1,750 daily wage for plantation workers by year-end

President Anura Kumara Disanayake yesterday said the daily wage of plantation workers will be increased to Rs. 1,750 before the end of this year.

He made the announcement at an event held in Bandarawela to distribute land title deeds to over 2,000 families from the upcountry plantation community under the fourth phase of the 10,000-housing project implemented with Indian assistance.

The President said the Government is committed to improving the economic and social well-being of the plantation community, who have contributed to the national economy for more than two centuries. He said ensuring fair wages, housing ownership, and better living conditions for the Malayagam community remains a key responsibility of the State.

Disanayake also thanked the Indian Government for its continued support to improve living standards in Sri Lanka, highlighting India’s contribution of Rs. 2.8 million per housing unit under the project, in addition to the Rs. 400,000 allocated by the Sri Lankan Government for infrastructure facilities.

He said the Government is focusing on several areas to uplift the plantation community, including health, education, access to clean water, and eradication of the drug menace in estate areas.

‘The plantation community has long demanded a fair daily wage of Rs. 1,750. We are determined to ensure that this entitlement is granted within this year by whatever means necessary,’ he said.

The President also noted the growing political participation of the Malayagam community, observing that for the first time in history, many of their representatives were elected to Parliament in the last General Election. He said the Government would not betray the trust placed by the community and would continue to work towards ensuring their economic and social advancement.

Indian High Commissioner Santosh Jha, speaking at the event, said the housing initiative reflected the longstanding friendship between India and Sri Lanka and reaffirmed India’s commitment to supporting the development and well-being of all Sri Lankan communities.

HNB General Insurance partners Postgraduate Institute of Management

HNB General Insurance (HNBGI) has announced the signing of a partnership agreement with the Postgraduate Institute of Management (PIM) affiliated to the University of Sri Jayewardenepura strengthening the collaboration dedicated to advancing leadership excellence, management capabilities and empowering employees to drive sustainable organisational growth.

This partnership also marks the continuation of ‘HNBGI Elevation’ a Management Development Program with the inauguration of the second consecutive batch. HNBGI Elevation is designed to build future-ready managers who will transform the general insurance industry through critical skills in strategic decision-making and leadership development embodying its essence of ‘Leadership Beyond Limits.’

HNB General Insurance Director/CEO Sithumina Jayasundara said, ‘At HNB General Insurance, we believe that investing in our people is investing in the future. This partnership with PIM reflects our commitment to nurturing leadership talent, empowering our employees and preparing them to take on tomorrow with confidence.

HNB General Insurance Head of Human Resources/Assistant General Manager Malsha Munasinghe added, ‘HNBGI Elevation is a vital platform that enables our employees to unlock their true potential, build confidence and develop into leaders who can navigate challenges and inspire teams. As we continue with the second batch, we look forward to shaping a culture of growth and leadership that benefits both our employees and the organisation as a whole.’

Janashakthi Life enters most stable league in company rating: A-

Janashakthi Life has been reassured confirming its governance, trust, stability and performance with the award of A- credit rating by Lanka Rating Agency. This independent recognition highlights the company’s strong financial position, commitment to transparency and long-term stability.

As Janashakthi Life proudly celebrates 31 years of operations during the month of September 2025, which is also the Insurance Month, this milestone comes at a pivotal time for the company. Having outpaced the industry as the fastest-growing insurer in Q1 2025 with a 49% growth in Gross Written Premium and having exceeded key industry benchmarks across First Year Premium, Long-term Business, Gross Written Premium, and New Business during the first half of the year, this recognition further underscores the insurer’s strong and sustained growth development.

The A- rating reflects Janashakthi Life’s robust governance framework, ensuring transparency, accountability, and adherence to industry best practices. Its professional management, guided by an experienced leadership team and well-defined processes, enables the company to navigate challenges effectively while pursuing sustainable growth. The company’s unwavering commitment to creating long-term value for policyholders and stakeholders underscores its focus on financial stability, customer-centric innovation, and ethical business conduct. Collectively, these factors reinforce Janashakthi Life’s resilience, positioning it as a trusted and responsible player in the insurance sector. The risk-based Capital Adequacy Ratio demonstrates strong organic capital generation, exceeding industry benchmarks without reliance on external support, and highlights the strength of the internal risk management framework and the company’s ability to sustain capital growth. In parallel, consistent investment yields continue to outperform industry norms, underscoring superior investment management capabilities. The improvement in leverage ratio further demonstrates enhanced financial discipline and sound risk management practices. Based on the current trajectory, Janashakthi Life is positioned within the next 2-3 quarters to achieve an expense ratio that places the company at the forefront of industry efficiency, reinforcing both our competitive pricing power and operational excellence.

Janashakthi Insurance PLC Director/CEO Ravi Liyanage commented on the achievement, stating, ‘Janashakthi Life’s robust foundations are reaffirmed by this strong credit rating. It is an acknowledgement of our steadfast dedication to transparency, stability and customer trust, ensuring our policyholders that their policy benefits are secure in the long run due to our long-term focus to deliver on our every promise in protecting our policyholders and their family’s future. This milestone is a celebration of our journey as a homegrown brand and a testament to the continued faith that our customers have in us.’

Adding to this, Janashakthi Insurance PLC Chief Financial Officer Jude Shanmugam stated, ‘Our strong financial management procedures and ability to withstand a challenging operating environment are reflected in our A-rating. It strengthens stakeholder trust in the company’s capacity to fulfill its commitments and justifies our approach of promoting sustainable growth. Further, Janashakthi Life, recorded strong results for Q2 YTD 2025, continuing its growth momentum. First-year premiums grew by 61% year-on-year, reflecting agility in a challenging economic climate. Regular long-term business rose by 32%, strengthening long-term customer value and steady income streams. Gross Written Premiums (GWP) increased 27% to Rs. 3,769 million, positioning the company as a sector outperformer. Net profit surged 70% to Rs. 1,318 million from Rs. 777 million last year, while total assets climbed to Rs. 40 billion by end-June 2025, reinforcing its solid financial base and growth capacity.

The A- rating reflects not only Janashakthi Life’s robust financial performance but also the dedication of its team, whose efforts have reinforced the company’s position as one of Sri Lanka’s most trusted life insurers. As Janashakthi Life marches its three-decade journey, the company remains committed to building long-term value by staying true to its core values integrity, collaboration, respect, performance driven and innovation.

LMD 100 recognises Hayleys as Sri Lanka’s leading listed corporate for 2024/25

Hayleys PLC has been ranked as Sri Lanka’s leading listed corporate in the 32nd edition of the LMD 100, securing the no. 1 position for the 10th time since the ranking’s inception in 1995. This recognition underscores the Group’s longstanding role as a centrepiece of the Sri Lankan economy and a benchmark of resilience, innovation, and sustainable value creation.

For the financial year 2024/25, Hayleys achieved a record-breaking consolidated revenue of Rs. 492.2 billion, reflecting a 13% year-on-year (YoY) increase and marking the highest in the Group’s 148-year history. Profit Before Tax (PBT) rose to Rs. 35.4 billion, a growth of 40%, while Profit After Tax (PAT) reached Rs. 22.5 billion, representing a 52% increase compared with the previous year.

An export income of $ 685 million contributed 53% of the Group’s total revenue, while reaffirming Hayleys’ role as a key driver of foreign exchange earnings.

The Group continues to be one of Sri Lanka’s largest private sector employers, with a workforce of 38,000, while supporting over 27,000 indirect livelihoods across its value chains. In 2024/25, Hayleys contributed Rs. 152 billion in cumulative economic value through payments to the Government, employees, lenders, and nearly 13,000 shareholders.

Hayleys has a diversified presence across 16 industry verticals and operations in over 20 countries. Its export leadership includes serving close to 5% of global demand for household and industrial, supported and unsupported rubber gloves, and a commanding 16% global market share in coconut shell-based activated carbon. The Group is also Sri Lanka’s largest manufacturer and exporter of fabric, aluminium extrusion profiles, processed fruits and vegetables, hybrid flower seeds, and tissue culture plants.

Hayleys PLC Chairman and Chief Executive Mohan Pandithage said: ‘Securing the no. 1 position in the LMD 100 for the 10th time reflects not only our financial strength, but also the dedication of our teams across Sri Lanka and in over 20 countries of operation. This recognition belongs to our 38,000+ employees and the many thousands of small-scale partners who power our value chains. Their unwavering efforts are the foundation for our continued progress in innovation, diversification, digital transformation, and Environmental, Social and Governance (ESG) integration.’

‘At Hayleys, our mission has always been clear – to earn for the country, empower communities, and create enduring value for stakeholders. With Sri Lanka’s macroeconomic conditions showing signs of stabilisation, we remain confident in the opportunities ahead and will continue to invest in progress that strengthens both the nation and our Group,’ he added.

As one of Sri Lanka’s most socio-economically impactful organisations, Hayleys has long championed inclusive business models that connect rural smallholder communities to global markets. From training and fair buyback agreements for agri farmers, to the ‘First Light’ program for rubber smallholders and the ‘Harith Angara’ initiative empowering coconut-based charcoal suppliers, the Group embeds fairness, sustainability, and security into its value chains. These partnerships, recognised internationally for their social impact, ensure that economic growth is not only export-driven but inclusive, strengthening livelihoods across Sri Lanka.

The Group also retained its national long-term rating of ‘AAA (lka)’ from Fitch Ratings in March 2025, reflecting disciplined governance and strong balance sheet management. Reinforcing its sustainability commitments, 74% of the Group’s energy consumption is now derived from renewable sources, driving a 14% reduction in greenhouse gas emission intensity (Scope 1 and 2) over the past year.

SL slides in global fraud ranking

Sri Lanka has fallen sharply to being ranked among the five most vulnerable countries in the Asia-Pacific region for fraud exposure, according to the 2025 Global Fraud Index released by Sumsub in partnership with Statista and the Digital Assets Association (DAA) Singapore.

The Index, which measures fraud risk across 112 countries, placed Sri Lanka at 103rd globally, ahead of Bangladesh (106), India (109), Indonesia (111), and Pakistan (112). Sri Lanka has fallen sharply from last year’s 94th ranking.

New Zealand, Singapore, and Australia were identified as the most fraud-protected economies in the region, while Europe continued to dominate the list of countries with the strongest anti-fraud systems.

Sumsub’s findings highlight growing risks in the Asia-Pacific’s fast-digitising markets, noting that fraud prevention efforts have not kept pace with the rapid adoption of digital technologies.

The region as a whole dropped from third to fourth place globally in fraud protection, trailing Europe, the Middle East, and the Americas, and ranking just above Africa.

Sumsub Vice President – APAC Penny Chai said: ‘The 2025 Global Fraud Index provides a comprehensive view of fraud risks worldwide, highlighting both emerging threats and the effectiveness of preventative measures.’

She added that stronger Government intervention and public-private collaboration are critical to ensuring regional resilience against increasingly sophisticated digital fraud.

Despite a fall in overall ranking, Singapore remained the global leader in the Government Intervention pillar, reflecting strong regulatory frameworks and coordinated anti-fraud efforts.

Official reserves inch up in Sept. to $ 6.24 b

Official reserve assets inched upward to $ 6.24 billion as of end September 2025, after stagnating at $ 6.1 billion the previous two months.

According to the latest Central Bank of Sri Lanka (CBSL) data, foreign currency reserves amounted to $ 6.18 billion by end-September, with Gold reserves amounting to $ 58 million.

The CBSL expects a $ 2.1 billion outflow within the next 12 months, including debt servicing.

Last week, the International Monetary Fund (IMF) said strong tourism receipts, remittances, and exports have helped offset the impact of higher imports on reserves.

IMF Mission Chief Evan Papageorgiou said: ‘Reserve accumulation is an outcome of many variables, not just the imports of vehicles which remove dollars from the market, but also offsetting aspects with strong tourism, strong remittances, and ongoing general strength on the export sector.’

He added that the CBSL remains on track to meet or exceed its net international reserve target.