Business
JAT Holdings and MTV Channel Private Limited join forces
JAT Holdings PLC, the market leader for wood coatings in Sri Lanka, is proud to announce a groundbreaking partnership with MTV Channel Private Limited, a leading broadcaster and media organization. This strategic collaboration, which is the first of its kind, will see JAT Holdings join forces with MTV Channel Private Limited as the media partner for the JAT Pintharoo Shilpee Abhiman programme, further expanding its scale, scope and coverage. Thus, the partnership marks a significant milestone in the history of JAT Holdings and the entire woodcraft industry in Sri Lanka.
The JAT Pintharoo Shilpee Abhiman programme, initiated in December 2021, has already witnessed over 250 painters successfully graduate with internationally-recognized NVQ Level certifications, provided by JAT. .Holdings in partnership with the National Apprentice and Industrial Training Authority (NAITA). This long-term initiative aims to uplift communities of woodcraftsmen and painters by providing recognition, financial stability and professional training to skilled individuals who demonstrate exceptional talent but lack formal certification. Now, with JAT Holdings PLC’s media partnership with the MTV Channel Private Limited, JAT Pintharoo Shilpee Abhiman is set to reach new heights and enable more woodcraftsmen and painters to participate and benefit.
The partnership was officially entered into at a special ceremony and press conference held to mark the occasion, on the 14th of July 2023, at MBC Network’s flagship Stein Studios. Senior representatives from both organizations were present at the event, including from JAT Holdings PLC, Nishal Ferdinando – CEO, Wasantha Gunaratne – Director Sales & Technical, and Dilshan Rodrigo, – Senior General Manager- Marketing, and from MTV Channel Private Limited, Chandana Sooriyabandara, CEO – Stein Studios and Roshan Watawala, Director – News 1st.
Mr. Nishal Ferdinando, expressed his enthusiasm for the partnership and the programme saying, “This partnership with MTV Channel Private Limited is a game-changer for the Pintharoo Shilpee Abhiman programme. We are joining forces with a reputable and wide-reaching media organization that is renowned for continuously carrying out projects to build a better and sustainable society. They share our vision for a brighter and more inclusive future. Leveraging this partnership, we will work together to significantly increase the program’s awareness, reach, and coverage. This will create more opportunities for woodcraftsmen and painters to enrol and develop their skills. Personally, I am immensely pleased as this programme is close to my heart. I look forward to this partnership further revolutionizing the woodcraft industry in Sri Lanka, uplifting our communities, and providing a platform for talented individuals to thrive.”
The collaboration will connect JAT Pintharoo Shilpee Abhiman with the public in all three languages through various channels, including TV, radio and digital platforms. These include MBC’s TV channels, such as Sirasa TV, Shakthi TV, and TV1, and radio stations such as Sirasa FM, Shakthi FM, and Yes FM, as well as its digital platforms such as News 1st’s Facebook page and YouTube channel. MBC Network’s diverse audiences will be treated to engaging content including teasers, trailers, live updates, news segments and special programmes and documentaries, to be rolled out in three phases.
Phase 1 will feature a series of JAT certified painter testimonials in Sinhala and Tamil, highlighting the success stories of JAT Pintharoo Shilpee Abhiman graduates. This phase aims to inspire aspiring painters by sharing the achievements of the talented graduates. Phase 2 will include a series of painter workshops that will take place in eight different locations across the island. The primary objective of these workshops is to provide painters with the necessary technical knowledge and skills to enhance industry standards. By uplifting the skill set of painters, JAT aims to contribute to the growth and development of the industry as a whole. Phase 3 will introduce an exciting and innovative initiative, which will be a first of its kind in the industry. JAT Holdings and MTV//MBC Network are eager to share more details about this programme in the upcoming weeks as it unfolds.
Commenting on this historic partnership, Chandana Sooriyabandara, CEO – Stein Studios of MTV Channel Private Limited said, “It’s an honour to partner with such a visibly beneficial and uplifting social programme as JAT Pintharoo Shilpee Abhiman. Leveraging the extensive reach of our network, we aim to work together with JAT Holdings PLC to empower painters and woodcraftsmen across Sri Lanka, providing them with opportunities for growth, recognition and success. We’re confident that this initiative will help transform the woodcraft industry in the Island, and contribute to the development of certified, skilled professionals with bright prospects.”
As the partnership between JAT Holdings PLC and MTV Channel Private Limited unfolds over the next six to seven months, the JAT Pintharoo Shilpee Abhiman Programme will continue to shape the woodcraft industry in Sri Lanka. To learn more about JAT Pintharoo Shilpee Abhiman, interested parties can call 0777468295 or 0769984365.
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
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.
French Ambassador pledges support for relief efforts
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639 deaths reported as at 0600AM today [10th]
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UN pledges US$4.5 mn for post-Ditwah relief
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