Business
Expolanka Holdings ends FY 2023 focusing on consolidation strategy
Expolanka Holdings PLC ended its financial Year 2023 displaying resilience in the face of a challenging macro environment, while pursuing a strategy of consolidation paving the way for future growth.
For the fourth quarter, Expolanka achieved a Revenue of Rs. 55.1Bn, Gross Profit of Rs. 19.3Bn, and Operating Profit of Rs. 1.08Bn. However, the appreciation of the Sri Lankan Rupee against the USD caused the group to record an exchange loss of Rs. 2.4Bn during the quarter under review.
For the 12-month period ending March 31, 2023, the company has delivered a strong financial performance, with Revenues of Rs. 546Bn and a Profit after Tax of Rs. 31Bn. Expolanka’s international business operations contributed 95% to the total group performance. The company also achieved an EPS of Rs. 15.88 per share and an ROE of 22.67% during the same period.
Navigating amidst a dynamic and uncertain environment the company’s logistics sector posted a Revenue of Rs. 52.9Bn, with a Gross Profit of Rs. 18.5Bn and an Operating Profit of Rs. 987Mn for the quarter. These results contributed to the sector’s overall Revenue of Rs. 537 Bn and Profit after Tax of Rs. 29.4Bn for the fiscal year ended 31st March 2023.
A range of factors including key North American trade lanes experiencing a slowdown in global trade due to high inventory levels from pandemic-era overstocking, reduction in consumer spending and new orders from most retailers, geopolitical tensions, and increased energy costs affected the sector during the past year. However, the company believes that the slowdown is part of short-term cyclical changes following a strong economic performance in 2021.
Despite the challenges, the logistics sector remained focused on core business fundamentals with EFL Global onboarding new customers and increasing the wallet share reflecting the continuity and consistency of EFL’s long term strategy. Though the demand-supply imbalances continue to impact the industry, EFL Global has continued to expand its service capabilities in both origin and destination markets. Investments in the contract and domestic logistics business have also started to contribute positively both commercially and financially. The US market remained the key driver of business, while the European and Asian trade lanes performed satisfactorily.
In pursuit of future growth, EFL Global completed two large acquisitions valued at Rs. 35Bn, acquiring Trans American Customs broker and Locher Evers Inc. These acquisitions will expand EFL’s service portfolio and customer base and consolidate its North America operations. While both acquisitions will further strengthen the company’s position in the North American market facilitating growth, EFL also aims to continue to invest in infrastructure to facilitate growth and drive efficiencies.
The leisure sector yielded a strong Q4 performance delivering Revenue of Rs. 835Mn and a Profit after Tax of Rs. 132Mn. Annual revenues were a record-breaking Rs. 3.0Bn and a Profit after Tax of Rs. 811Mn having focused on efficient procurement and operational excellence. The success of the company’s strategies in reorganizing its portfolio and adopting a lean operating model was reflected in the results.
The Group’s investment sector posted Revenues of Rs. 1.6Bn for the quarter and ending the Financial Year with Revenues of Rs. 6.5Bn.
Though the volatile global macro environment and uncertain market conditions have made visibility and predictability challenging, Expolanka, having demonstrated agility and adaptability in the past, will continue to focus on delivering strategic initiatives adjusting to market challenges. With EFL Global having established itself as a top freight forwarder, the company remains committed to building capabilities, infrastructure, and systems to create sustainable value for all stakeholders.
Business
UNDP, together with partners, brings together immersive insight into the cruel realities of SGBV
The 16 Days of Activism Against Gender-Based Violence is a global campaign observed annually from 25 November to 10 December, beginning on the International Day for the Elimination of Violence against Women and concluding on Human Rights Day. The campaign aims to raise awareness and inspire collective action to end all forms of violence against women and girls.
This year, in line with this, the United Nations Development Programme (UNDP), together with its key partners through ongoing flagship project initiatives, is taking a unique, never-before-seen approach to advocacy. ‘Through Her Eyes,
wef.aoEiska, அவளின் பார்வையில்’ narrates the heart-wrenching journey of ‘Sara’ in her search for justice through multi-medium storytelling that merges stage theatre, film and creative audio production techniques.
‘Through her eyes’ is in line with three UNDP Sri Lanka projects; Enabling Access to Justice for Victim-Survivors of SGBV in Sri Lanka funded by the Government of Canada and implemented together with UNFPA Sri Lanka; the Support to Justice Sector Project (JURE) funded by the European Union in partnership with the Ministry of Justice, and implemented together with UNICEF Sri Lanka; and the Action and Anticipation for The New Agenda for Peace (AAA) supported through UNDP’s Funding Windows with funding from the Governments of Denmark, Luxembourg and the Republic of Korea.
Commenting on the timeliness of such public activations, Azusa Kubota, Resident Representative, UNDP in Sri Lanka, stated, “As the country recovers from one of its worst natural disasters in its recent history, the focus on gender equality, inclusion, and structural change is more vital than ever. We all know SGBV leaves a deep scar in survivors, those around them and the society they live in. Yet, do we really know what it is like to live through that experience? In a crisis, how do we address root causes of SGBV that get exacerbated? We wanted to mark this year’s 16 days differently – by creating an experience where we, irrespective of our gender, culture, and all other differences, put ourselves in the shoes of those who live through the pain and hardships, and collectively think through ways in which we can tackle persistent challenges confronted by many. Our advocacy efforts aspire towards a nation and world free from SGBV- to achieve gender equality and empower. ‘Through Her eyes’ is a unique experience that is designed to bring this issue in front of a broad demographic audience, by bringing together stakeholders from across the Government, private sector, development partners, youth and CSOs, as we stand together to end SGBV and support Sri Lanka to build back better.”
Sharing the perspective from the Government of Sri Lanka, Minister of Justice Harshana Nanayakkara commented, “Through Her Eyes’ invites us to pause and truly understand the lived realities of survivors. It is a powerful reminder that every survivor who comes forward does so with immense courage. Their pathway to justice must be dignified, safe and free from fear. Ensuring the safety and empowerment of women and girls is not a task that can be achieved in isolation. A holistic approach is vital. Law enforcement, the judiciary, health services, social services, educators, civil society, the private sector and communities must stand together as allies.”
As a key partner, Kiril Iordanov, Head of Cooperation at the High Commission of Canada noted, “Addressing GBV is a shared responsibility. Canada continues to collaborate with partners to design and champion innovative solutions. Our approach is rooted in the belief that promoting gender equality and empowering women and girls has a multiplier effect on development. By placing women and girls at the centre, we contribute to building a more peaceful, inclusive, and prosperous world.”
The Safe Space of this immersive production also highlights the support and work being carried out by the projects, to support better access for justice for victim-survivors of SGBV, capacity building for relevant public sector institutions, media ethics when reporting SGBV and the promotion of male allyship and bystander intervention as a mechanism to eradicate SGBV in Sri Lanka.
Highlighting the priorities of the European Union, Carmen Moreno, Ambassador of the European Union to Sri Lanka and the Maldives, commented, “Gender-based violence endures when access to justice is made difficult by fear, stigma or indifference. This exhibition invites us to understand the experience through the eyes of the victim, and it forces us to question—and dismantle—the barriers that allow violence to continue without consequences. Justice systems Justice systems must act with determination in confronting this problem, but they cannot do so in isolation. Real change requires a society that supports women, recognises the realities of gender-based violence, and refuses to look away.”
In light of the current situation of the country, the event also hosted an interactive dialogue on the theme ‘Delivering Economic Independence for Survivors of Sexual and Gender-based Violence during Crises’ on the sidelines of the event. With participation from key individuals, including the Government, development partners, private sector leaders, civil society organisations and youth groups, the dialogue looked at key areas of Gender-responsive and intersectional crisis planning; protection, safety, and justice built into disaster preparedness and humanitarian response; safeguarding shelter design, ensuring access to health and reproductive services, psychosocial support, and safe reporting mechanisms.
The campaign aims to raise awareness and inspire collective action to end all forms of violence against women and girls. It calls on governments, organisations, and individuals to challenge harmful gender norms, support survivors, and demand accountability from perpetrators.
‘Through Her Eyes, wef.aoEiska, அவளின் பார்வையில்’ is open to the public from the 2nd to 7th of December from 10 AM to 7 PM at the Sri Lanka Foundation Institute.
To know more and engage in the immersive experience: https://go.undp.org/through-her-eyes
Business
Outstanding AI & Fintech Governance Leadership Award 2025 for Sopnendu Mohanty
Sopnendu Mohanty, former Chief FinTech Officer of the Monetary Authority of Singapore (MAS) and current Group CEO of the Global Finance & Technology Network (GFTN), has received the Outstanding AI & Fintech Governance Leadership Award 2025 for his global contribution to responsible fintech advancement, cross-border policy innovation, and AI governance.
While the recognition was announced at the Asian Digital Finance Forum & Awards held at Port City Colombo, the formal handing-over ceremony was held recently in Singapore, during the GFTN Insights Forum that took place in parallel with the Singapore FinTech Festival 2025 at Marina Bay Sands Expo & Convention Centre.
Presenting the award, Rajkumar Kanagasingam, Convener of the Asian Digital Finance Forum & Awards and Industry Fellow of the Global Fintech Institute (Singapore), lauded Mohanty’s unique global impact.
“Sopnendu has set global benchmarks in innovation-friendly regulation, Kanagasingam said.
“From cross-border payment connectivity to AI ethics and multi-CBDC frameworks, his leadership has not only shaped Singapore’s fintech ecosystem but has helped entire regions transition into the digital economy responsibly.”
He added that Mohanty’s strategic influence continues beyond regulatory leadership.
“His ability to galvanise central banks, policymakers and innovators onto common platforms is rare. What he built in Singapore is now influencing multiple jurisdictions, and that continuity through GFTN is immensely valuable.”
Serving from 2015 to 2025 as MAS’s inaugural Chief FinTech Officer, Mohanty is widely acknowledged for transforming Singapore into one of the most forward-looking and trusted digital finance environments.
Mohanty has also endorsed Sri Lanka’s initiative to shape the Colombo International Financial Centre (CIFC) at Port City Colombo as a South Asian fintech gateway. He was presented with an interim policy blueprint during the DigiEcon Global Investment Summit.
By Ifham Nizam
Business
Sales team of Maliban Group triumphs at SLIM National Sales Awards 2025
The Maliban Group Sales Team emerged among the distinguished winners at the SLIM National Sales Awards 2025, reaffirming the Group’s leadership in sales excellence and its enduring commitment to performance, innovation, and teamwork.
Recognized for their exceptional results during the 2024/25 financial year, the Maliban Sales Team’s achievement reflects the Group’s dynamic approach to market development and its ability to sustain strong growth across highly competitive product categories. The win stands as a testament to Maliban’s continued focus on people, process, and purpose the three pillars driving its success story over eight decades.
Organized by the Sri Lanka Institute of Marketing (SLIM), the National Sales Awards (NSA) is the country’s most prestigious platform dedicated to recognizing excellence in sales and marketing. NSA is known for its rigorous evaluation process that selects the elite from among the best, celebrating professionals and organizations who set new standards for performance, leadership, and innovation in Sri Lanka’s corporate landscape. To be recognized at NSA is not only a mark of achievement but also of distinction, earned through consistency, strategy, and excellence in execution.
This year’s recognition holds special significance for the Group, as Maliban Biscuits, Maliban Milk, and Little Lion competed together as a unified team after several years, marking a powerful return celebrated with multiple accolades. The success reflects the synergy and shared vision across Maliban’s diversified business units, strengthening the brand’s position as a trusted name in both local and international markets.
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