Business
Sri Lanka spearheading inclusive discourse on Indian Ocean’s maritime region
WiLAT and IOSRC rigorously engage questions confronting oceanic trade
by Sanath Nanayakkare
The Indian Ocean Strategic Research Centre (IOSRC) in collaboration with WiLAT (Women in Logistics and Transport) initiated a collective consultative regional discourse on 1st February 2024, to address ensuing challenges and opportunities evolving in the maritime region of the Indian Ocean.
With this objective in mind, the key areas of oceanic trade, sustainability, security, ocean conservation and maritime law were deliberated at the collective consultative forum held at Galle Face Hotel.
This event saw the participation of interdisciplinary stakeholders, global leaders, experts and academics that aligned with the goal of achieving prosperity, peace and preservation of maritime wealth to benefit the nations in Indian Ocean countries.
Dr. Fredrik Haag, IMO-International Maritime Organisation Head of London Convention, Protocol and Ocean Affairs, was the guest of honour and keynote speaker, while Nimal Siripala De Silva, Minister of Ports, Shipping and Aviation delivered a message to the forum as chief guest.
The minister said that a united approach to resolving issues connected to these key themes would be more beneficial than making various laws which can hardly be enforced due to practical issues. He said Sri Lanka would rather cooperate with Indian Ocean countries to achieve these objectives on a multilateral level than merely passing laws.
Dr Dan Malika Gunasekara, an expert on Maritime Law delivered a lecture on international covenants and emerging challenges of terrorism and piracy on global maritime arteries. He made remarks on the threats developing in the Red Sea region and its profound trade ramifications.
Harikrishshan Sundaram, CEO Colombo West International Terminal Pvt Ltd explained the strategic role played by India to maintain peace and prosperity in global maritime trade and about vital investments made by India in the maritime industry. Further, he shared his insights on emerging challenges and demands faced by the Blue Economy.
Biju Ravi Managing Director Maersk Lanka Pvt Ltd said Sri Lanka needs to be prepared for providing more efficient services to merchant ships calling at Port of Colombo. “In the aftermath of recent attacks in the Red Sea, more vessels are opting to bypass the Suez Canal and navigate around South Africa’s Cape of Good Hope, so these shipping lines would find Sri Lanka more logistically easier as all the services they need are available here en route. Further, India, Pakistan and Bangladesh are big cargo markets, and therefore, Colombo needs to up its game in terms of swift cargo clearance to increase its transhipment business.”
He said capacity-wise, Port of Colombo is ‘okay’ at present. But when more and more ships call at the Port of Colombo, it may not be adequate. Now we have 7 million TEU capacity and today we are operating at around 6 million TEUs. So we have a buffer of around 1 million TEUs plus ECT, but we don’t get the advantage of that buffer capacity. This can get a little tricky. If you really want to utilize it, then we need much faster clearance of local-import cargo. In India, I can tell you none of the local import boxes stay in the port. So the ports there don’t get congested. But here, we don’t have that facility, and hence the need here for more operational efficiency,” he said.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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