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Singer Sri Lanka Excels in SAFA Best Annual Report Awards 2022

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Singer Sri Lanka has achieved outstanding recognition at the South Asian Federation of Accountants (SAFA) Best Presented Annual Report Awards, Integrated Reporting Awards, and SAARC Anniversary Awards for Corporate Governance Disclosures Competition 2022.

Singer secured the prestigious Gold Award for the third consecutive year in the Service Sector (Excluding Financial Services & Communication & IT) category. This remarkable accomplishment reflects the company’s unwavering commitment to transparency, accountability, and governance in annual reporting.

The evaluation process, conducted by SAFA’s esteemed committee, focused on enhancing transparency, accountability, and governance in the published Annual Reports of entities across South Asian countries. Singer Sri Lanka’s success in clinching the Gold Award underscores the exceptional quality and excellence embedded in their annual reporting practices.

The awards ceremony took place at the Hotel Radisson Blu, Kaushambi, Ghaziabad, Uttar Pradesh, India. The event served as a platform to celebrate and honor organizations that have demonstrated excellence in their reporting standards.

Mahesh Wijewardene, CEO of Singer Group of Companies, remarked, “This recognition is a testament to our continuous pursuit of excellence in reporting standards. It reflects the tireless efforts of our team and our unwavering commitment to transparency and accountability.”

Shalinka Seresinhe, Finance Director at Singer (Sri Lanka) PLC, added, “Winning the Gold Award in the Service Sector is a reflection of our commitment to maintaining the highest standards of corporate governance, transparency and accountability in our financial reporting practices. We are honored to be recognized for our efforts in this prestigious competition.”

“As we celebrate this significant achievement, we renew our commitment to upholding the highest standards in corporate reporting and governance. We extend our heartfelt gratitude to SAFA for recognizing our efforts and providing a platform for acknowledging excellence in the industry,” he added.



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Rs 1. 3 bn yahapalana building deal under investigation

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Jayasinghe building

Several ex-Cabinet ministers questioned; Ranil, Sajith, too likely to be summoned

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has initiated an inquiry into the shifting of the Agriculture Ministry situated at Rajamalwatte, to a building belonging to the D. P. Jayasinghe Group of Companies, at Rajagiriya, during the Yahapalana government.

The building was rented for a five-year period at a cost of over Rs 1 bn by the yahapalana government within months after the then President Maithripala Sirisena declared opened the 10-storey building complex.

The CIABOC yesterday morning recorded former yahapalana minister Gayantha Karunatilleke’s statement in connection with the investigation. Later in the day, CIABOC recorded the statement of SJB General Secretary Ranjith Maddumabanadara. Earlier CIABOC summoned former ministers Thalatha Atukorale, Wajira Abeywardena and Lakshman Kiriella. At the time of the finalisation of the deal, KIriella was in the UNP.

Sources said that former PM and President Ranil Wickremesinghe, too, was likely to be questioned in this regard. Responding to The Island queries, sources pointed out even SJB leader Sajith Premadasa was expected to be questioned.

The then Speaker Karu Jayasuriya is on record as having said that the building was rented in keeping with a decision taken by the government and not Parliament.

The UNP-SLFP coalition shifted the Agriculture Ministry to accommodate 16 Sectoral Oversight Committees therein.

Although the government paid as much as Rs. 21.5 mn monthly rent to D.P.A. Jayasinghe Company, the Agriculture Ministry failed to move in for over a year. The then Agriculture Minister Duminda Dissanayake sought Cabinet approval on Dec 1, 2015 to rent the building.

According to inquiries conducted earlier by the Presidential Commission appointed to probe state sector corruption, the Agriculture Ministry sought Cabinet approval for a new building after the then Prime Minister Wickremesinghe submitted a cabinet proposal on 21 September, 2015, to use the Agriculture Ministry building for Parliament’s sectoral oversight committees.

PM Wickremesinghe’s Secretary Saman Ekanayake has told the Commission that public funds could have been saved if the several vacant floors of Suhurupaya belonging to the Defence Ministry had been made available to the Agriculture Ministry.

By Shamindra Ferdinando ✍️

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SL Railways suffers staggering losses; more than 2/3 of rail tracks out of service

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Army personnel engaged in repairing damaged railway tracks in the Boo Oya area. Cyclone Ditwah caused extensive damage to railway tracks in several parts of the country (pic courtesy Army)

Railway sources said that the damages caused to railway tracks could be more than USD 300 mn.

According to UNDP Rapid Crisis Assessment Sri Lanka’s railroad system, over 278 km of railways were exposed to cyclone-related flooding, including 35 railroad bridges nationwide. This figure reflects flooding only, but other hazards (such as localised debris, landslides, or damage to a single bridge) can also disrupt operations, meaning that even relatively small obstructions can render long stretches of railway non-operational. Like road exposure, railway exposure limits mobility and the capacity of affected populations to access key services and infrastructure.

At the level of divisional secretariats, Colombo and Thimbirigasyaya in Colombo District, Ja Ela in Gampaha District, as well as Mannar Town and Nanaddan in Mannar District all registered over 10 km of exposed railways each.

Commissioner-General of Essential Services B.K. Prabath Chandrakeerthi is on record as having said that only 478 kilometers of Sri Lanka’s 1,593-km railway network were currently usable following extensive damage caused by the recent cyclone.

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US, SL advancing free, open, and resilient Indo-Pacific region: Embassy

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Allison Hooker

Under Secretary of State for Political Affairs Allison Hooker arrived in Colombo yesterday (11) to underscore US interest in defence, trade and maritime security in line with their Indo-Pacific strategy.

The US embassy here issued the following statement: “Under Secretary Hooker will meet with Sri Lankan counterparts to discuss a wide range of bilateral issues, focused on deepening economic and commercial ties, strengthening defence cooperation, and supporting Sri Lanka’s economic and maritime sovereignty.

The United States and Sri Lanka share a strong and enduring partnership rooted in our mutual commitment to regional security, economic growth, and prosperity for our peoples. Through close cooperation on defence, trade, and maritime security, we are working together to advance a free, open, and resilient Indo-Pacific region.

As we continue to build on our strategic partnership, the United States also stands with the people of Sri Lanka as they respond to the devastating impacts of Cyclone Ditwah. We remain committed to working together to address both immediate challenges and long-term opportunities for our two nations, reflecting our ongoing commitment to the U.S.-Sri Lanka partnership.”

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