Business
Convocation ceremony for 2nd batch of JAT Pintharoo Shilpee Abhiman Graduates concludes successfully
JAT Holdings PLC, the market leader for wood coatings in Sri Lanka, recently witnessed its 2nd batch of carpenters and woodcraftsmen successfully complete the JAT Pintharoo Shilpee Abhiman programme, receiving National Vocational Qualifications (NVQ), in partnership with the National Apprentice and Industrial Training Authority (NAITA). The JAT Pintharoo Shilpee Abhiman programme, initiated in 2021, reflects JAT Holdings’ commitment to uplifting the wood coatings industry by providing recognition, financial stability, and professional training to painters and carpenters. This long-term initiative is designed to enhance industry standards and empower individual woodcraftsmen who demonstrate exceptional skill, but have not had the opportunity to pursue formal certification.
Accordingly, the 2nd JAT Pintharoo Shilpee Abhiman Convocation Ceremony was held on the 16th of June 2023 at the JAT Holdings Auditorium. The Ceremony witnessed the graduation of 113 woodcraftsmen, who received NVQ Level 3 Certification from NAITA, in Wood Craftsmanship (Furniture Finishing). The event was graced by distinguished figures from the industry, National Bodies, NAITA and the Management of JAT Holdings PLC. The Chief Guest at the event was none other than, S.H.Harischandra,Vice Chairman, NAITA, whose presence lent an air of honour and prestige to the occasion. With the 2nd Convocation now complete, JAT Pintharoo Shilpee Abhiman has provided NVQ Level 3 certification to over 250 candidates.
Keynote addresses were delivered on the occasion of the 2nd JAT Pintharoo Shilpee Abhiman Convocation Ceremony by Dr Udena Wickramasinghe – Chairman of the Tertiary and Vocational Education Commission, HS Harischandra – Vice Chairman of NAITA, and Wasantha Gunaratne – Director Sales and Technical at JAT Holdings PLC. Also of noteworthy presence at the event were the Chairman of NAITA, . W Ruchika Amerasekara, and Founder and Managing Director of JAT Holdings PLC,Aelian Gunawardana.
JAT Pintharoo Shilpee Abiman is an ongoing programme that is implemented in two stages. Phase 1 of the programme involves the innovative JAT Loyalty Programme, which was rolled out in 2019. Diverging from conventional loyalty programs, JAT Loyalty allows customers (woodcraftsmen who are choose JAT products) to convert loyalty points into a monetary benefit through exclusive JAT branded debit cards, issued in partnership with Commercial Bank of Ceylon PLC, whilst also enjoying other privileges with JAT. This unique financial empowerment initiative has provided painters with increased financial stability, opportunities for savings and investment, and long-term financial independence for woodcraftsmen.
Reflecting on the success of JAT Pintharoo Shilpee Abhiman, Chief Guest, Mr. S.H.Harischandra,Vice Chairman, NAITA expressed, “The collaboration between JAT Holdings and NAITA has been truly transformative for the wood coatings industry. By providing uncertified skilled individuals with the opportunity to obtain official recognition and certification, we are not only elevating their career prospects but also enhancing the overall status of the industry. This partnership has been instrumental in promoting lifelong learning, skills development, and even international job opportunities for the graduates, enabling foreign earning and investments to the country, along with knowledge and skills growth.”
“JAT Pintharoo Shilpee Abhiman stands as the pinnacle achievement in the realm of painters, serving as the highest qualification one can aspire to in wood coatings and finishes. With a trailblazing spirit, JAT pioneered the art of wood coatings in Sri Lanka, revolutionizing industries and transforming the very fabric of craftsmanship. Embarking on this transformative journey in 1999, JAT undertook a mission to uplift the skills of painters through dedicated technical training programs. Over the years, these initiatives have empowered countless painters, nurturing their talents and honing their expertise. Today, the culmination of these tireless efforts is epitomized by the JAT Pintharoo Shilpee Abhiman program, an esteemed testament to their unmatched skills, recognized both locally and internationally. This prestigious accolade represents the zenith of their craftsmanship, a symbol of excellence in the world of wood coatings and finishes.” expressed Mr. Wasantha Gunaratne, Director Sales and Technical, JAT Holdings
The JAT Pintharoo Shilpee Abhiman programme aligns with several United Nations’ Sustainable Development Goals (SDGs) as well, including SDG 1 (No Poverty), SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure). Furthermore, by engineering water-based solutions and implementing key technical improvements, brought about by the Group’s R&D Centre, into its products, JAT Holdings PLC is actively contributing towards industry- and national-level sustainability efforts, whilst positively impacting livelihood development and education within its communities.
JAT Holdings PLC is the market leader in wood coatings and brushes in Sri Lanka, with a dominant presence in the paints, and luxury home and office furnishing sectors. With two state-of-the-art manufacturing facilities, located in Sri Lanka and Bangladesh, supported by an advanced Research and Development Centre in Sri Lanka, JAT Holdings continues to fuel innovation, solidifying its position as a key player and emerging conglomerate in the region. Recognized for its financial stability, even in times of adversity, JAT Holdings PLC has been awarded a National Long-Term Rating of ‘AA(lka)’ by Fitch Ratings, whilst also being prestigiously ranked as the No. 1 Most Awarded Entity in the Diversified Sector by LMD. JAT Holdings’ commitment to its employees and workplace excellence has also been recognized through its certification as a Great Place to Work, making it an employer of choice.
Business
Wealth Trust Securities to raise Rs. 500.8 million via IPO
The recent announcement of Wealth Trust Securities Ltd.’s Rs. 500.8 million Initial Public Offering -IPO- comes at a moment when Sri Lanka’s interest-rate environment is gradually easing, allowing well-capitalised primary dealers to expand their trading portfolios and secure long-term positions in government securities.
Company chairman Senaka Weerasooria told journalists in Colombo that the IPO is not merely a capital-raising exercise, but a reinforcement of the disciplined structure that has defined the company since its inception.
He noted that WTS enters the public market with what is already one of the most robust capital bases in the industry, and with “absolute confidence that investors are joining a journey that has consistently returned value.”
Weerasooria said the capital infusion will further solidify WTS’s ability to absorb volatility, particularly amid cyclical movements in Treasury yields.
Despite maintaining a conservative trading outlook, the company has managed to average a 31% ROE over the past twelve years — a figure management repeatedly highlighted as evidence of resilience across both tightening and loosening rate cycles.
Managing Director and CEO Romesh Gomez said that in recent months the direction of policy rates and market liquidity has begun shifting favourably, creating clear value-accretion opportunities for disciplined portfolio expansion. With additional capital, he noted, WTS has greater room to capture advantageous auction positions, broaden secondary market activity and align its investment scale to emerging market windows.
Gomez acknowledged that FY25 reflected compressed performance due to systemic realignment, with revenue at Rs. 4.6 billion and PAT at Rs. 1.2 billion. However, he pointed out that profit sustainability, even through a difficult cycle, speaks to strong operational controls. The A- rating with a Positive outlook continues to stand, reinforcing the company’s position as a stable counterparty in a specialised sector.
Asia Securities Advisors, managing the IPO, pointed out that the offer price of Rs. 7 presents meaningful upside when benchmarked against underlying valuation metrics. The move into the listed environment, they noted, enhances governance visibility — a point increasingly valued among institutional investors participating in the Government securities market.
By Ifham Nizam
Business
BoardPAC achieves Carbon Neutral Certification for the fourth consecutive year
BoardPAC, the global leader in digital board meeting automation, has secured the Carbon Neutral Certification for 2024, marking the fourth consecutive year the company has achieved this milestone. The certification, awarded by the Sri Lanka Climate Fund (SLCF) under the Ministry of Environment in October 2025, underscores BoardPAC’s commitment to environmental sustainability and responsible corporate governance.
BoardPAC’s operations, spanning over 40 countries, were assessed against the ISO 14064 – 1:2018 standard, and the company’s organization-level Greenhouse Gas (GHG) emissions were successfully offset, reflecting its ongoing commitment to reducing its environmental impact.
Business
Uber marks 10 years in Sri Lanka: Moving People, Powering Livelihoods, Impacting Communities
Uber today marked ten years of operations in Sri Lanka, a decade in which the platform has reshaped how people commute, and how thousands of Sri Lankans earn a livelihood. Over the past decade, ride-hailing has become one of the most transformative shifts in Sri Lanka’s urban mobility landscape, providing safe, reliable and affordable transport at scale.
Chathuranga Abeysinghe, Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, graced the milestone event as the Chief Guest. U.S. Ambassador Julie Chung attended as the Guest of Honor, joined by Akanksha Singh, Head – South Asia Markets, Uber, and Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka.
As per the 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm – Public First, Uber and Uber Eats together generated over LKR 160 billion in economic activity in Sri Lanka within a single year. Since its entry in Sri Lanka in 2015, Uber rides have covered over 1.15 billion kilometers – equivalent to nearly 3000 trips from Earth to the moon! Over 320,000 Sri Lankans have earned through the platform as drivers.
Uber has also supported the tourism ecosystem, enabling more than 700,000 airport trips, connecting visitors seamlessly to their destinations. Over the last year, we’ve further intensified our service in the Western and Central provinces and expanded our offerings in the Southern and Northern provinces – bringing its services closer to more communities across the country. Uber has emerged as one of the most preferred ride-hailing platforms across the island, offering affordable, reliable, and safer rides at different price points.
Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, Chathuranga Abeysinghe, said, “Over the past decade, Uber has become part of the fabric of daily life in Sri Lanka – not only by helping people get where they need to go, but by enabling thousands to earn an income with dignity and flexibility.
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