Business
CSE Masterminds 2023 concludes on a high note
The Fifth Edition of Sri Lanka’s only capital market quiz, CSE Masterminds 2023 organized by the Colombo Stock Exchange (CSE), was held recently at Shangri-La Colombo with the participation of 77 corporate teams, with ZeroBeta emerging as the winner of the overall competition with a cash prize of Rs 1,000,000 and vouchers from Shangri-La Colombo.
Nithya Partners was placed first runner-up with a cash prize of Rs. 500,000, and Acuity Knowledge Partners secured the second runner-up position with a cash prize of Rs. 300,000 at the competition. The top three winning teams have also been awarded Ambassador Cards and discount vouchers from Barista Coffee Lanka (PVT) Ltd.
The participating teams were segregated into seven categories based on their core area of business and were awarded for excelling in each category. Accordingly, Sampath Bank PLC (Banking and Finance), Nithya Partners (Service), NDB Wealth Management Ltd. (Fund Management), ZeroBeta (PVT) Ltd. (Technology), Acuity Partners (PVT) Ltd. (Stock Brokering), Ansell Lanka (Pvt) Ltd. (Manufacturing), and Amana Takaful Life PLC (Insurance), won special awards for topping their respective categories.
Participants in the Quiz Competition were put through a test on their knowledge in Global Markets, International Business, Sri Lankan Economy and Business, Sri Lankan Stock Market, Listed Companies, Sports & Entertainment and other areas in relation to the management of financial securities.
Three lucky winners from the audience won three return air tickets to Singapore courtesy of Sri Lankan Airlines from the raffle draw and another three lucky audience members won dinner vouchers from Cinnamon Grand Hotel, Colombo, and two vouchers worth Rs. 10,000 from CIC Holdings PLC after successfully answering the questions posed to the audience.
The Fifth Edition of CSE Masterminds 2023 was supported by First Capital Holdings PLC and Bartleet Religare Securities (Pvt) Ltd as Platinum Sponsors.
The Gold sponsors for the event were AICPA & CIMA Sri Lanka, Capital Trust Holdings Ltd, London Stock Exchange Group Sri Lanka, CT CLSA Securities (Pvt) Ltd, and Senfin Securities Limited.
Lanka Securities (PVT) Ltd, LOLC Holdings PLC, Asha Securities Ltd, Softlogic Stockbrokers (PVT) Ltd, Almas Equities (PVT) Ltd, and Senfin Asset Management (PVT) Ltd have come onboard as the Silver sponsors.
Further, Sri Lankan Airlines has joined CSE Masterminds 2023 as the Official Airline Partner whereas Shangri-La Colombo was the Hospitality Partner for the event and Entertainment Unlimited was the event partner. International Distillers Ltd. (IDL) has come on board as the fellowship event partner. The official Print Media Partner for the event were Daily FT, Daily Mirror and Sunday Times of Wijeya Newspapers Ltd.
Co-sponsors of the event were Vidullanka PLC, Asia Capital Stock Brokers (PVT) Ltd, Millennium IT ESP (PVT) Ltd, CryptoGen (PVT) Ltd, Data Management Systems (PVT) Ltd, Sunshine Holdings PLC, Barista Coffee Lanka (PVT) Ltd, Cargills (Ceylon) PLC, Lanka IOC PLC, N-able (PVT) Ltd, E Futures (PVT) Ltd, Hemas Holdings PLC and Tokyo Cement Company (Lanka) PLC.
Commenting on the initiative, CSE CEO, Rajeeva Bandaranaike, said that “The competition has steadily evolved since its inception into one of the foremost quiz competitions in the corporate sector and a flagship event in the CSE calendar.”
“We commenced the quiz competition in 2017 with a few corporate teams at the CSE trading floor, with a prize value of Rs. 100,000 for the winner. And now the CSE Masterminds is a brand that is popular among quiz enthusiasts in the corporate sector, and the prize value of this year’s event was over Rs. 2 million.” Bandaranaike added.
He further said, “The interest in the corporate sector to participate and view the quiz as a fun and engaging learning experience has been vital to the success of the event. We congratulate the winning teams and express our appreciation to all the organizations and brands that have supported the event this year in the capacity of a sponsor or partner.”
The Channa Upuli Performing Arts Foundation added colour to the event and the quiz was followed by a fellowship event backed by the Freeze Music Band, featuring Falan Andrea as the guest artiste.
Business
Samata Kotasak, Samata Ekakayak forums draw large crowds in Anuradhapura & Jaffna
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) have taken their ‘A Share for Everyone, A Unit for Everyone’ (Samata Kotasak, Samata Ekakayak) initiative to Anuradhapura and Jaffna through investor forums last week, as part of an ongoing islandwide effort to broaden investor participation. The forums were held on 10th September at the Golden Mango in Anuradhapura, and on 12th September at the Tilko Jaffna City Hotel. The forums attracted over 600 participants across both locations.
The “A Share for Everyone, A Unit for Everyone” concept, developed by the Chairman of the SEC, Sen. Prof. D.B.P.H. Dissabandara and launched in July of this year, aims to promote a shared commitment to creating wealth and value within a fair, efficient, orderly, and transparent capital market by ensuring broad and accessible participation for all.
As part of this initiative, the SEC and CSE will continue to host investor forums across the country to strengthen investor education and awareness while promoting broader participation in the capital market beyond the Western Province. By leveraging the CSE’s nationwide reach and the growing interest in equity investments, the programme will provide investors with greater access to Sri Lanka’s capital market through stockbroking firms and unit trust management companies.
“Traditionally, Sri Lankan investors have favoured conventional investment avenues, but it has yielded comparatively fewer returns than the capital market,” remarked Executive Vice President – Marketing, CSE, Niroshan Wijesundera, speaking on the Unit Trust and Stockbrokering firm outreach objectives of the broad-basing initiative.
“Over the medium to long term, capital markets have given higher returns. By setting aside small allocations to invest regularly through professionally managed vehicles such as unit trusts, first-time investors can participate in the capital market, receive higher returns in the medium-to-long-term, and gain experience and confidence. On the other hand, those with experience and knowledge can directly engage with the capital market through a stockbrokering firm. Traditional investments are liable to be taxed, whereas investments in the capital market are capital-gains tax free.”
Speaking on the favourable investment climate, he noted that the Sri Lankan capital market is at a relatively low Price-to-Earnings (P/E) ratio of 11.03x in a global context. “As covered in the presentations at the forums, the Sri Lankan capital market has demonstrated comparative resilience in the face of global market corrections, such as the Middle Eastern crisis. Sri Lanka has withstood bigger shocks, such as past crises, the war, COVID-19, the economic downturn, and the fuel crisis.’’
Business
“Pulle Madu” to medical school: record intake signals turning point for plantation sector welfare
Many generations ago, an estate child’s first years began in a cloth hammock strung up near the rows of tea bushes, so a mother could keep working within earshot of her infant. Later a corner in a line room was converted to establish Pulle Madu, where infants and toddlers were sheltered to ensure that plucking by their mothers was not disrupted.
Today, fully equipped Child Development Centers (CDC’s) complete with qualified and trained CDC officers have replaced the old Pulle Madu, to offer children the same level of education and exposure that any child in a city avails. These children receive custodial care, and child development support through these CDC’s, while Early Childhood Centers (ECD) lay greater emphasis on structured early learning through a play-based curriculum, while also providing dedicated spaces for working mothers to breastfeed.
These Centers are the result of the collaborative efforts of the Regional Plantation Companies (RPCs), the Government of Sri Lanka, and key plantation-sector trade unions, including the Planters’ Association of Ceylon. Together, these stakeholders form the tripartite body that established the Planters’ Human Development Trust (PHDT) in 1992, and have since contributed to significant development across the 22 RPCs.
The RPCs collectively spend nearly Rs. 720 million annually to maintain these CDC’s, reflecting the sector’s continued investment in childhood development and the wellbeing of plantation communities. This foundation supports their continued education and health development and, in the long term, helps them progress towards successfully completing the GCE O/L and A/L examinations.
To date, primary school enrolment among children from plantation communities has reached 100%, while approximately 2–3% of students go on to pursue higher education at local universities. Over the past two years, nearly 250 children from plantation families have gained admission to university, marking the highest number recorded by the sector to date. Among them is a young man from Strathspey Estate, now training to be a doctor at Eastern University. “Everything I have achieved is a direct result of my parents’ tireless hard work,” he said, thanking his teachers and the scholarship grant that carried him through school, whose identity is withheld in line with the programme’s standard practice for student privacy.
It also manifests powerfully in Roots to Wings, the university start-up scholarship initiative launched by PHDT in collaboration with the Planters’ Association and other industry partners. “Every year we saw bright students earn a place at university and then risk losing it, not for lack of ability, but because they couldn’t afford a laptop, a set of books, or even proper clothing to arrive on campus with dignity,” explained PHDT Director General Lal Perera. “To correct this situation, after careful study, we facilitated a scheme that bridges the most urgent gap. We cover the immediate start-up costs, while the Regional Plantation Companies, through their CEOs, ensure that the student is carried through to graduation. If a family loses estate housing when a parent retires, we don’t let that end a degree either. Students are granted extensions, and where needed, RPCs provide new housing, supported in part by Indian High Commission grants. Once a child has earned a place at university, we consider it our duty to make sure that place is never lost to circumstance.”
This scheme has become more than financial assistance; it is a lifeline of dignity, continuity, and hope. By addressing the hidden barriers that often derail promising futures, Roots to Wings ensures that talent from the plantation sector is not wasted but nurtured into leadership for tomorrow. It is a model of shared responsibility, where industry stakeholders collectively safeguard the aspirations of youth, transforming vulnerability into opportunity and circumstance into achievement.
The scheme costs an estimated LKR 10 to 15 million a year, funded by various industry stakeholders. The 2024 to 2025 cohort spans 35 Arts students, 22 in Commerce and Management, 13 in Drama and Theatre, 10 in Bio-systems, 7 in Music, 6 in ICT, four each in Medicine and Engineering, three in Engineering Technology, two in Law and 24 across other faculties, a spread once unimaginable on estates where literacy in PHDT’s target areas has climbed from 40 to 84 percent. Specialised degree pathways and vocational opportunities such as Uva Wellassa University’s Bachelor of Science Honours in Plantation Management, vocational training through the National Institute of Business Management and digital learning through the Open University of Sri Lanka has further empowered students with promising academic and career prospects.
The health figures tracked alongside the Department of Census and Statistics and the Family Health Bureau since 1992, shows infant mortality falling from 18.3 per 1,000 live births to 4.65, and under five mortality from 42.6 to 6.26. Maternal mortality, once as high as 150 per 100,000 live births, has fallen close to zero in most recent figures, and stillbirths have dropped from 40 per 1,000 deliveries to under five today. Nearly all deliveries now happen in health institutions, almost every mother receives antenatal care, and every child completes first year immunization, which are gains attributed to better roads, housing, welfare services and preventive healthcare across the estates.
Nutrition support has similarly evolved, with centers moving from contractor-supplied meal packets towards parent-prepared midday meals. A centrally managed kitchen model has also been piloted at Dessford Estate, with a second facility planned at Holyrood Estate. However, officials do acknowledge that nutrition among younger children remains the area needing the most continued investment.
The progress made in improving health outcomes, particularly in reducing infant mortality, is significant. This reflects the RPCs’ continued commitment to community development, which extends to supporting education through scholarship programmes. These initiatives, together with established healthcare and educational support systems, contribute to improving opportunities and outcomes for children and families across plantation communities.
Business
Ceylinco Life dominates NAFLIA 2026 winning 12 top honours, including 5 National Awards
Ceylinco Life has reaffirmed its standing as a powerhouse of sales excellence in Sri Lanka’s life insurance industry, securing an outstanding 12 awards at the 2026 edition of the National Forum for Life Insurance Advisors (NAFLIA), including five National Awards that recognised its professionals as the best in the country.
The awards event saw Ceylinco Life’s sales professionals excel at both the Large Company and National levels, with the company claiming top honours across the Advisor, Supervisor and Branch Manager categories in both levels, while also producing two winners in the Large Company level in the Fast Starter Advisor category.
In the Advisor category, A. P. S. Wijayakumar secured first place at National and Large Company Level, while A. I. P. Manjula was placed second in both levels, giving Ceylinco Life four awards across the two tiers of recognition in this category.
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