April 26, 2024
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3min

Recognized for its exceptional commitment to sustainable business practices, Sri Lanka Telecom PLC (SLT) secured the esteemed ‘Best Corporate Citizen Sustainability Award 2023’ in the ‘Other’ category at a recent gala event. The award was granted following a rigorous evaluation process, during which SLT competed against 33 leading corporations.

 



 

The annual awards are organized by the Ceylon Chamber of Commerce, Sri Lanka’s premier business chamber, to felicitate organizations committed to sustainability across various sectors.

Sustainability has always been a core pillar of SLT-MOBITEL’s corporate strategy. The recognition reaffirms SLT-MOBITEL’s position as a champion of sustainable development in Sri Lanka amidst continuous efforts to minimize its environmental footprint. The award also highlights SLT-MOBITEL’s strength in uplifting communities, ensuring ethical governance, and driving economic progress through innovative products and services while creating long-term value for all stakeholders through responsible business conduct.

The ‘Best Corporate Citizen Sustainability Award’ celebrates organizations that have implemented comprehensive sustainability initiatives spanning Environmental, Social and Governance (ESG) aspects.

The Chamber evaluated companies across stringent criteria, including environmental stewardship, customer and community relations, corporate governance, financial performance, economic contributions, and special sustainable development projects.

Shortlisted companies then underwent rigorous interviews with an elite panel of international and United Nations representatives.

SLT-MOBITEL’s senior leadership team, including Mr.Janaka Abeysinghe (Chief Executive Officer); Mr.Prabhath Dahanayake ( Chief Marketing Officer); Dr. Chandana Wijayanama ( Chief People Officer), Mr.Anuruddha Suriyarachchi (GM – Marketing Services) and several other senior officials attended the glittering awards ceremony.

As Sri Lanka’s leading digital services provider, SLT-MOBITEL will continue to raise the bar for corporate sustainability, paving the way for a more prosperous and environmentally conscious future for the nation.

 



 


April 25, 2024
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5min

Haycarb PLC, a global leader in activated carbon manufacturing and a member of Sri Lanka’s most diversified conglomerate, the Hayleys Group, clinched the Gold Award in the Value Creation category at the 9th Asia Integrated Reporting Awards (AIRA) 2023.

 



 

Organised by CSRWorks International, a regional leader in sustainability advisory, training and thought leadership, the AIRA is dedicated to honouring reports that embody transparency, integrated thinking and value creation.

Haycarb’s Annual Report, titled “Our Best, to the World,” thoroughly examines the Group’s financial, social, environmental, and governance frameworks, showcasing its dedication to stakeholder value creation. With a vision to provide world-class activated carbon for purification and energy storage solutions, Haycarb prioritises technical excellence and customer-centricity alongside its hallmark of sustainable innovation and value addition. Aligned with the core values of the Group, the report upholds rigorous financial and non- financial reporting standards.

“We are immensely proud of Haycarb’ s remarkable achievement. The award is well merited for the strength of their reporting and their pioneering role in advancing the sector over the past fifty years,” Hayleys Chairman and Chief Executive, Mohan Pandithage stated.

“I am delighted to congratulate Haycarb on their well-deserved Gold award. Their report sets a benchmark in integrated reporting, exemplifying leadership through adopting integrated thinking and a multi-capital framework. This recognition truly highlights their unwavering commitment to value addition and sustainable innovation. Haycarb’s dedication to pushing boundaries sets them apart, and I look forward to witnessing their continued success and future endeavours in this field,” said CSRWorks International Managing Director Rajesh Chhabra.

“We are honoured to stand out among our competitors for our commitment to value creation, which has always been at the core of our mission. Our commitment to value creation is embraced by our employees and extends from manufacturing and technical excellence to preserving natural resources and enriching all stakeholders.” remarked Rajitha Kariyawasan, Managing Director of Haycarb.

 Haycarb’s innovative approach to value creation is enriched by ‘ACTIVATE’, its sustainability framework, which was launched coinciding with its 50th anniversary in 2023. This framework is aimed at integrating Environmental, Social, and Governance (ESG) principles across its business operations.

ACTIVATE embodies Haycarb’s commitment to achieve ambitious targets, including increasing renewable energy usage, sustainable water sourcing, reducing emissions, improving employee wellbeing and customer satisfaction, community empowerment and sustainable innovation. This ensures their stakeholder interests are balanced, board responsibilities are discharged effectively, and ESG risks are managed holistically.

For further details: https://www.haycarb.com/esg/

Under the leadership of Chairman Mohan Pandithage and Managing Director Rajitha Kariyawasan, Haycarb has consistently strived to set new benchmarks in ESG. The company’s commitment to sustainability is further highlighted by its ESG roadmap, ‘Activate’, executed by Deputy Managing Director Brahman Balaratnarajah together with the executive Directors, Jeevani Abeyratne, Udaya Kumara, Ali Caderbhoy, James Naylor and the management team.

Haycarb is the pioneer manufacturer of coconut shell activated carbon in any coconut producing country with manufacturing facilities in Sri Lanka, Thailand and Indonesia supported by marketing offices in the USA, UK and Australia. The company contributes net foreign exchange revenues with its value adding processes whilst remaining a leading and technologically superior manufacturer in its chosen segment.

 



 


April 25, 2024
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4min

The Board of Investment (BOI) of Sri Lanka recently commemorated its 45th Anniversary with an inaugural awards ceremony on 02 April, recognizing companies with exemplary contributions to the nation’s economic landscape. Among the distinguished recipients, Omega Line Limited was honored as “Most Outstanding Exporter – Merchandise.”

 



 

Mr. Felix A. Fernando, CEO/Managing Director of Omega Line, and Ms. Paola Fava, Director – Quality Assurance & General Manager of Omega Line – Vavuniya Apparels, graciously accepted the prestigious award from President Ranil Wickremesinghe. The recognition by BOI underscores Omega Line’s significance as one of the leading apparel exporters in the country.

BOI’s selection criteria were based on recognizing companies that have made tremendous contribution towards Sri Lanka’s economic transition over the past forty-five years, especially on foreign direct investment (FDI) projects that have positively impacted the local economy.

Omega Line’s commendation reflects its noteworthy achievements in fostering economic growth and employment generation, aligning with BOI’s mandate to facilitate FDI and promote sustainable development.

Specializing in corsetry and beachwear, Omega Line boasts an impressive annual production and export volume exceeding 100 million garments, with an export turnover of over USD 370 million last year while sustaining a workforce of over 4,500 individuals, with a significant majority being women. The company’s commitment to advancing domestic fabric manufacturing capacities through local collaborations underscores its dedication to building a resilient and adaptable supply chain.

Its achievements are emblematic of the group’s larger impact on Sri Lanka’s economy. Employing over 15,500 individuals and exporting nearly 200 million garments last year, the Omega Group’s collective efforts have positioned Sri Lanka as a global hub for apparel manufacturing and export. Despite prevailing economic challenges, Omega Group’s turnover exceeded USD 600 million last year, with investments totaling over USD 350 million across its four legal entities in the country.

Apart from being chosen for the exclusive list of “The 15 Best Workplaces in the Manufacturing and Production Industry in Sri Lanka,” by Great Place to Work, 2024 was a significant year for the company. Omega Line was also won the award for its economic contribution to Sri Lanka at the Best Corporate Citizen Sustainability Awards held early this year.

The award categories included significant FDI contributors and longstanding BOI enterprises and exporters. The 45th anniversary of BOI Sri Lanka was inaugurated by President Ranil Wickremesinghe, while Hon State Minister of Investment Promotion Dilum Amunugama and BOI Chairman Dinesh Weerakkody were also present at the event. President Wickremesinghe went onto commended the pivotal role played by companies under the BOI’s purview in driving Sri Lanka’s economic growth.

 



 


April 25, 2024
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3min

Hayleys Fentons Limited secured the coveted “Company with Great Managers Award” 2023 as 9 senior management individuals received honours at the CLA Great Manager Awards for 2023, organised by the Colombo Leadership Academy for Leadership Excellence at the Balmoral Banquet Hall, Kingsbury Hotel Colombo.

 



 

Key officials from Hayleys Fentons, Roshani Dharmarathne, Director – Business Development, Krishantha Peiris, Senior Deputy General Manager, Nanduni Dahanayaka, Assistant General Manager – Marketing and Corporate Communication along with  Akhila Jayasena, Deputy General Manager – National Sales of Hayleys Solar were commended for their dedication on driving results and execution excellence.

Jayendra Fonseka, General Manager of the Hayleys Fentons Security and Communication Division, Mr Deshan Perera, General Manager-Engineering of Hayleys Solar along with Tharaka Heenkenda, Assistant General Manager of Fentons Smart Facilities (FSF) were among the managers praised with the ‘Great Manager for Aligning Organisational Vision’.

Dilshan Nanayakkara, Deputy General Manager, National Operations of Hayleys Solar were among the three managers who were honoured for Leadership Integrality under the title ‘Great Manager for Leadership Integrality & Holistic Approach’ whilst Lalani Weeraarachchi, General Manager-Human Resources of Hayleys Fentons was recognised for ‘Team Effectiveness & Collaboration’.

Hasith Prematillake, Managing Director of Hayleys Fentons Limited, expressed gratitude for the company’s recognition “Though there are 1.6 million Megawatts of installations worldwide,Sri Lanka only has less than 1000 Megawatts; therefore, to move these sustainable goals and initiatives forward, we are harnessing great individuals with a collective objective towards our purpose of innovative and sustainable engineering services for a better life”

For more information about Hayleys Fentons Limited and its services, please visit www.hayleysfentons.com.

 



 


April 24, 2024
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6min

The Commercial Bank of Ceylon has been named the ‘Best Bank in Sri Lanka’ for a remarkable 22nd year in the ‘World’s Best Banks 2024’ list released recently by the US-based Global Finance magazine.

Global Finance said its Best Bank Awards recognise financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.

 



 

“The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success,” the magazine said. “Winning organizations managed their assets and liabilities in a savvy way in light of the fast-changing interest rate scenarios.”

The 2024 edition of Global Finance’s list of 28 Best Banks in the Asia Pacific region names Commercial Bank alongside leading banks of the calibre of CBA (Australia), China Construction Bank (China), HSBC (Hong Kong), ANZ (New Zealand), UOB (Singapore), Hana Bank (South Korea), MUFG Bank (Japan), and State Bank of India (India), which were adjudged the best banks in their respective countries.

These winning banks are to be honoured at an awards ceremony to be held during the IMF/World Bank annual meetings in Washington DC, on October 26, 2024.

Commenting on winning this prestigious accolade, Commercial Bank Managing Director/Chief Executive Officer Mr Sanath Manatunge said: “The last financial year saw the Bank achieve several milestones in performance and break new ground in sustainability, digitisation and initiatives to help SMEs and women entrepreneurs build their businesses. All of this was achieved while managing volatility in the market, and we have ended the year stronger, with our market leadership positions intact. This award is an excellent tribute to the strength and determination of the Commercial Bank team that made this possible.”

The largest private sector bank in Sri Lanka with Group assets of Rs 2.656 trillion, deposits of Rs 2.148 trillion, a loan book of Rs 1.296 trillion and gross income of Rs 341.566 billion as at 31st December 2023, Commercial Bank was also the biggest lender overall, to the country’s Small & Medium Enterprise (SME) sector in 2023. The Bank continued to be the benchmark private bank in Sri Lanka with the highest market shares among private sector banks in deposits, loans, total assets, market capitalisation, gross income and total capital base.

In selecting the World’s Best Banks for 2024, Global Finance considered factors that ranged from the quantitative objective to the informed subjective. Objective criteria included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Award winners were selected by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.

A full report on the Best Bank selections will be published in the May issue of Global Finance, with winners chosen in over 150 countries across Africa, Asia-Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe. This report will also feature selections for the Best Islamic Financial Institutions and the World’s Best Banks by Region. In addition, Global Finance will announce the Best Banks in the US Region shortly.

Founded in 1987, Global Finance has readers in 193 countries, territories and districts, and a circulation of 50,000 that reaches chairpersons, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance is headquartered in New York and has offices in London and Milan.

The largest private sector bank in Sri Lanka, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the country’s first 100% carbon neutral bank, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

 



 


April 24, 2024
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3min

April, 2024: Sri Lanka’s foremost private healthcare provider, Nawaloka Hospitals PLC, took home a Merit award at the distinguished Best Management Practices Company Awards ceremony held on March 13, 2024, at the Cinnamon Grand, Colombo.

 



 

The Best Management Practices Company Awards, organized annually by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), celebrate excellence in organizational growth and success within both the public and private sectors. These awards highlight exemplary leadership, policies, strategies, people management, partnerships, resources, processes, and performances demonstrated by companies throughout 2023.

“Accepting this award reaffirms Nawaloka Hospitals’ commitment to upholding the best management practices in the healthcare sector. This recognition is a testament to our dedication to delivering superior patient care while upholding the highest standards of professionalism and operational efficiency,” noted Nawaloka Hospitals PLC chairman Dr.Jayantha Darmadasa.

The Best Management Practices Company Awards provide a valuable framework for organizations such as Nawaloka Hospitals, to evaluate their management practices and drive continuous improvement. Winning this award has enabled and empowered the company to showcase its achievements within the business community, both locally and internationally.

Nawaloka Hospitals entered Sri Lanka’s healthcare sector in 1985, and proceeded to dominate the private healthcare sector in the country. The launch of the hospital and the overwhelming response it received from the people demonstrated a long felt need for superior healthcare in a pleasant environment. The Hospital was a pioneering initiative, established under the Chairmanship of Late Deshamanya H. K. Dharmadasa, to be a centre of excellence in high technology diagnostic and curative facilities. Driven by the Vision to be the Hospital of Tomorrow, the medical institution has come to be known as a centre of excellence and a preferred healthcare institution in the country.

 



 


April 18, 2024
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5min

Visa, the global payment solutions company, honoured Commercial Bank of Ceylon for ‘Excellence in Launch of Affluent and Mass Corporate Card Variants’ at a Visa Commercial Solutions Client Forum in Colombo recently, in recognition of the Bank’s commitment to the introduction of Visa’s Corporate Card series in the local market.

 



 

The Visa Commercial Solutions Excellence award was presented by Visa Country Manager for Sri Lanka and Maldives Ms Avanthi Colambage and was accepted on behalf of the Bank by Deputy General Manager – Corporate Banking Miss Tamara Bernard.

Visa’s Head of Commercial and Money Movement Solutions – India and South Asia Ms Shruti Gupta and Head of Visa B2B Connect – Asia Pacific Mr Qinwen Xiao were among the senior representatives from Visa at the event, while Commercial Bank’s representation included the Bank’s Assistant General Manager – Corporate Banking Mr Sidath Pananwala, Senior Manager Card Centre Mr Asanka Krishan and officers of the Card Centre and Corporate Banking Department.

Commercial Bank recently launched Visa Signature and Visa Platinum Corporate Credit Cards in Sri Lanka for employees of corporates and other business entities. This new product enables corporates to manage expenses of employees, and the card is linked to a corporate credit card account of each company. These cards can be used by employees of corporates to pay anywhere in the world for travel, entertainment and other expenses authorised by their respective companies, and the Visa Signature Corporate Credit Cards also offer their users complimentary benefits such as lounge access at international airports, and other travel-related support.

Commercial Bank cards are the market leader in Sri Lanka. The Bank offers global credit card brands in the Silver, Gold and Platinum tiers and a variety of cards in the premium segment. The cards are equipped with ‘Tap ’n Go’ NFC technology and are backed by a strong NFC Point-of-Sale (POS) network. ComBank Cards offer an exciting array of promotions and offers across all categories and also offer the Max Loyalty Rewards scheme for selected card categories covering both credit and debit cards.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank operates a strategically-located network of branches and 964 automated machines in Sri Lanka, is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

Visa (NYSE: V) is the global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Visa’s mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. The Company believes that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

 



 


April 18, 2024
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3min

Prime Health Herbal Products (PHHP), a leading herbal nutraceutical manufacturer in the country was recently honoured for their contribution towards the creation of herbal medicine at the Golden Inmediens Awards 2023. The award ceremony, which aims to develop and promote indigenous medical entrepreneurship, was held at the Water’s Edge Hotel. Focusing on research and development of pharmaceutical/nutraceutical products, PHHP manufactures their products with a particular emphasis on non-infectious diseases such as Cancer, Diabetics, Obesity and Coronary diseases. Their Research and Development Facility has been established in collaboration with several local and international universities such as the Universities of Peradeniya, Kelaniya (Faculty of Indigenous Medicine), and Ruhuna, and the Universities of Melbourne, Osaka, Spain, and Burling. Their state-of-art factory is in operation under the guidance and supervision of the Research Team’s Head, Senior Prof. R. V. P. J. Rajapakse.

 



 

PHHP was honoured at the Golden Inmediens Awards in recognition of their contribution to develop the product, ‘LivingMo600’. It has been developed with six years of extensive research by the related parties. Made of active ingredients of bitter gourd (Karavila), “alfa Eleostearic fatty acid”, and cinnamon bark oil, LivingMo600 has been found to have potential to control the development of cancer and prevent metastasis, and to be able to mitigate the side effects of chemo and radiotherapies used in cancer treatments. The award ceremony was organised by the State Ministry of Indigenous Medicine, the Lanka Ayurveda Promotion (Pvt.) Ltd., the Department of Ayurveda and the Ayurvedic Drug Corporation. It was attended by Prime Minister Dinesh Gunawardana, State Minister of Indegenous Medicine Sisira Jayakody and several other Cabinet and State Ministers, and Government officials.

 



 


April 9, 2024
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3min

Hereditary Herbals (Pvt.) Ltd., a leading Ayurvedic product manufacturer in the country, bagged the Ayurvedic Innovation Talent Award at the Golden Inmediens Awards 2023. The award ceremony aimed at developing and promoting indigenous medical entrepreneurship, was held at the Water’s Edge Hotel in Battaramulla on 19 March. Founded by Dr. R V. D. R. M. M. Ihthisham under the guidance of his father Dr. R. V. D. R. M. M. M. Irshard. Hereditary Herbals is a unique Ayurvedic medicine manufacturing company that focuses on manufacturing Ayurvedic medicines to treat health issues such as Arthritis, Catarrh, Cholesterol, Diabetes, Fatty liver, Gastritis, Hypertension, Gallbladder and kidney calculi, Paralysis, Hemorrhoids, sexual disfunction and infertility, dental illnesses and immune system-related conditions. Their wide range of products includes herbal medical tablets, teas, oils, balms, syrups, soaps and other related products to fulfill customers cosmetic requirements.

 



 

Hereditary Herbals brand names are allocated to represent a particular disease. Some of such brands are; Lipi-Nil for cholesterol, D-Cap for high blood sugar, Pilonivarani for piles-related conditions, Amla-Pro for gastritis, Calcu-Pro for kidney/gallbladder stones, and Spot-Free for skin-related conditions. They always lay high emphasis on maintaining the natural herbal medicinal value and quality that is combined with the latest technology to offer high-quality products to their local and international consumers. Their products, which are manufactured in compliance with both local and international standards, can be viewed on their official website www.hereditaryherbals.com. Organised by the State Ministry of Indigenous Medicine, the Lanka Ayurveda Promotion (Pvt.) Ltd., the Department of Ayurveda and the Ayurvedic Drug Corporation, the award ceremony was attended by Prime Minister Dinesh Gunawardena, State Minister of Indigenous Medicine Sisira Jayakody and several other dignitaries including Cabinet and State Ministers and senior Government officials.

 



 


April 9, 2024
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5min

Sri Lanka’s leading private sector bank, HNB PLC, recently won three awards at the LankaPay Technnovation Awards 2024, including the ‘Bank of the Year for Excellence in Customer Convenience title’.

 



 

Hosted by LankaPay to recognise and reward flag bearers and promoters of innovative digital payment solutions, the awarding night was held at Shangri-La Hotel Colombo on the 20th of March, with the participation of Chief Guest State Minister of Technology Kanaka Herath and State Minister of Finance Shehan Semasinghe,

“These awards are a recognition of our team’s work towards pioneering digital payment solutions and our ethos to always prioritise customer convenience. As Sri Lanka embraces a digital payments uptake, particularly regarding financial requirements, our recognition by LankaPay validates our efforts and motivates us to further enhance our digitalization drive further,” said Sanjay Wijemanne, DGM – Retail Banking Group at HNB.

In addition to being presented with the Gold Award for the ‘Bank of the Year for Excellence in Customer Convenience’, HNB also won the Silver Award for ‘Best Digital Payment Strategy’ and a Merit Award for ‘Most Popular Digital Payment Product’.

HNB’s drive for digitalisation took notable steps forward over the past year, unveiling new products and significantly improving their current digital portfolio. Notably, HNB recently launched HNB TXB – a powerful integrated digital transaction banking platform that offers companies – from MSMEs to MNCs – enabling enterprises of any size to gain complete visibility and management over payments, cash management, global trade, value-chain financing, treasury and settlements of foreign currency transactions. The Bank also rolled out HNB Self Onboarding, a transformative digital banking solution that allows any Sri Lankan national the opportunity to sign up for the full range of HNB’s key products entirely remotely.

Initiated in 2017 to recognise the pioneers of payment technology innovations in the country, the LankaPay Technnovation Awards institutions enhance the efficiency of the national payment network.

“It is quite evident that the world is seamlessly adapting to digital mediums, especially in financial and banking requirements. HNB will continue to understand this shift and work to innovate and improve its digital payments products.” HNB AGM-Digital Business Chammika Weerasinghe said.

With 254 customer centers, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance, and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. Other major accolades include being adjudged the “Best Retail Bank in Sri Lanka” for the 14th occasion by the Asian Banker, being declared the “Best SME Bank” by Asiamoney Magazine, as well as securing a Top 5 position on Business Today’s Top 40 rankings for 2023.

HNB was ranked among Sri Lanka’s Top 10 Most Admired companies in 2022 by the American Institute of Certified Public Accountants and Chartered Institute of Management Accountants and the International Chamber of Commerce Sri Lanka. HNB was also recognized for its service excellence in trade services at the Euromoney Awards, taking home the prestigious titles of Best Market Leader in Trade Finance Services and Best Services provider

 



 



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Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country. We present not only the news, but a perspective based on observations and possible implications of a prevailing news item. LBN also provides an insight to the impact of a global economic or industrial development, thus helping stakeholders make informed and calculated decisions.




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