Business
Agreement to operate Sri Lanka’s first downtown duty free store
Marking a major step in one of South Asia’s most transformative development projects, Singapore-owned omnichannel retailer, One World Duty Free, and Port City Colombo have signed two agreements to operate Sri Lanka’s first-ever downtown duty-free store.
One World Duty Free (ODF) and the Colombo Port City Economic Commission (Commission) have taken a pivotal step in their alliance this week. At a ceremony held at the Colombo Port City Economic Commission’s office, ODF’s Founder and CEO Ms Keira Zhang and Dr Priyath B. Wickrama, Director General & Commission Member of the Colombo Port City Economic Commission (Commission), ratified their commitment to a strategic partnership aimed at shaping Port City Colombo’s global trajectory.
The partnership was underscored with the formalisation of two critical agreements: an Authorised Person Agreement between ODF and the Commission on 23 May 2023; and a lease agreement between ODF and CHEC Port City Colombo Pvt Ltd (CPCC) on 22 May 2023. These agreements, embodying their shared vision, lay the groundwork for ODF to transform Port City Colombo into an eminent global duty-free retail hub.
Keira Zhang, Founder & CEO of One World Duty Free, commented: “In our partners at Port City Colombo, we recognise a level of ambition which is perfectly aligned with One World Duty Free’s game-changing approach to duty-free retail. The opportunity to showcase our credentials on the world stage and contribute to the creation of a landmark destination in Asia is a key milestone in One World Duty Free’s journey of progressive expansion across Asia.”
One World Duty Free (ODF) – Singapore-owned omnichannel duty-free operator – is set to develop and operate a 1,250 square metre duty free store at Port City Colombo, offering a curated mix of international brands spanning Beauty, Wellness, Spirits & Wines and Fashion. ODF’s first retail store outside of Singapore will be nestled within a 7,000 square metre shopping oasis, Port City Duty Free Mall, primely positioned amidst a throng of international prestige hotels and casinos that promise a diverse and affluent customer base of tourists, expatriates, and locals. Construction of the ODF store is slated to commence from mid-2023, with trading planned to kick off by year’s end. ODF Port City Colombo will offer travellers a purpose-built shopping environment enhanced by the company’s innovative approach to smart retail.
Dr Priyath B. Wickrama, Director General of the Commission and Commission Member of the Colombo Port City Economic Commission, commented: “In order to make our vision for Port City Colombo a reality, we have sought out best-in-class partners that can bring fresh thinking and innovation. One World Duty Free’s technology-led ethos and commitment to delivering memorable consumer experiences will play a critical role in ensuring we deliver a compelling retail offer to travellers from across the world and thus the Commission’s vision of creating Port City Colombo as a world-class touristic shopping destination.”
Anticipating a sustained resurgence in tourist arrivals following the COVID crisis, Port City Colombo is set to accelerate Sri Lanka’s economic development by creating a new gateway to South Asia through a range of state-of-the-art infrastructure, including commercial and residential buildings, recreational facilities, a financial district, and a modern transportation network. Developed in collaboration with the Government of Sri Lanka, and CHEC Port City Colombo (Pvt) Ltd (CPCC) as a public-private partnership, Port City Colombo is Sri Lanka’s biggest FDI-funded development project to date. With major investment plans for travel retail, entertainment, and leisure facilities in partnership with renowned international players, such as Singapore’s ODF, Port City Colombo is slated to become a prime tourism and shopping choice on par with landmark destinations such as Singapore and Dubai.
Together, ODF and the Commission are charting a bold and innovative course for the future, reinforcing their shared vision of driving Port City Colombo’s ascent on the global stage. Both parties stand poised to redefine the economic future of Port City Colombo, taking it from a burgeoning commercial nucleus to a premier duty-free retail hotspot.
Business
From Mt. Fuji to Sri Pada: Lessons from a father-son climb
by SK Samaranayake
For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.
Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.
“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.
Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.
The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.
Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.
“Reaching the top was an achievement. Returning safely was success,” Gunasena said.
The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.
Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.
He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.
For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.
Business
FLIR, Marlbo promote smarter industrial maintenance
Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.
The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.
Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.
FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.
Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.
The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.
Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.
Business
Lumbini Tea Valley wins intl award for Singharaja Wirytips
Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.
The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.
Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.
Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.
Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.
The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.
-
News6 days agoMissing doctor’s body found in Mahiyanganaya
-
News6 days agoAustralia declines to release Finance Secy Suriyapperuma’s citizenship details
-
News6 days ago22A: BASL suggests CJ recuse himself from hearing petitions
-
News3 days agoEight politicians in drug kingpin probe
-
Editorial7 days agoGovts. drag feet as undergrads age
-
Features5 days agoInsights from Chieftains of Uva: Genealogy of two Kandyan Families – Part II
-
Business3 days agoSri Lanka opens up: A new season of direct connectivity
-
Features3 days agoRedefining ageing in Sri Lanka
