Business
SLID hosts webinar on ‘The Integrity Agenda’
The Sri Lanka Institute of Directors (SLID), in collaboration with its knowledge sharing partner Ernst & Young (EY), held a timely webinar discussion recently on “The Integrity Agenda – the Heightened Role of Boards”.
The session focused on how directors could steer their companies with integrity in the current environment. The panel comprised of Sunil Wijesinha, chairman of United Motors PLC, Watawala Plantations PLC and RIL Property PLC, Murtaza Esufally, chairman of Hemas Hospitals, Hemas Pharmaceuticals, Managing Director of Morison PLC and Non-Executive chairman of the Center for Poverty Analysis with Hiranthi Fonseka, Partner of Ernst & Young as the moderator. The keynote presentation was made by EY’s ASEAN Forensic & Integrity Services Leader Ramesh Moosa. The webinar was an initiative taken by the Institute’s INED Forum and was extended to all SLID members as well as the clients of EY in Sri Lanka.
“In this social media driven world, we know that adverse news travels rapidly. Any event of fraud could severely impact an organization’s reputation and will involve a great deal of cost and effort to recover from such damaging, adverse revelation. An investigative process will negatively impact the morale of the management and employees, and in regulated industries it will attract very close scrutiny by the regulators” said Ramesh Moosa while identifying asset misappropriations, bribery and corruption, and financial statement fraud as common fraud schemes.
He added that the opportunity to commit fraud in current times is heightened by work force reductions and displacements which adversely affected the operation of internal controls and segregation of duties; remote working may expose access controls to cyber compromises and management overrides and workarounds posed higher risks.
“In the current times, the pressure and opportunity to commit fraud are heightened as is its rationalization” he further stated.
Sharing insights from EY’s Global Integrity Report 2020, a global survey which involved about 3600 respondents, Moosa said that 90% of the survey respondents believed that Covid-19 posed a risk to ethical business conduct in their organizations. Commenting on the role of a Board director, he said that Board directors have a role to ensure performance and conformance and that the relationship between these two should be viewed as a symbiotic relationship where conformance supports performance which will enable integrity led organizations to flourish.
“Defining what integrity means to the business and investing in it, leveraging technology and data to automate, detect and monitor risk indicators, transforming the compliance function and programs to be forward-looking and developing a robust crisis response capability that would secure stakeholders’ trust are four action points for Boards” said Moosa.
Responding to the moderator’s request to provide his views on the Integrity Agenda for Sri Lankan companies, panelist Murtaza Esufally said that integrity, credibility and reputation have always been extremely important.
“In Sri Lanka’s quest for development, we need FDIs and technology transfers to Sri Lankan companies through JVs. Companies in Singapore, Hong Kong, Holland, UK and Ireland get the highest FDIs since they have built a culture of integrity and trust in institutions in those countries” he added.
Panelist Sunil Wijesinha said that the majority of Boards in Sri Lanka do give a high priority to the Integrity Agenda and that it varies according to whether or not the company is a public listed company or is in a regulated industry.
“Over the last 10 years we have seen the regulators tightening the regulations. Hence, there is a lot of pressure on Boards to make sure that the integrity of financial reports and business operations are accurate without any fraud. There is a huge responsibility on the Boards and senior management. During the current Covid times, we have to be careful of the pressure to perform which is much more complex due to the incentives that are being given. I always promote the concept of whistle blowing which can bring about great benefits” he added.
He also said that while the private sector has gone to great lengths to introduce regulations and best practices, it is strongly recommended that the public sector follows suit.
Moosa’s presentation was followed by a fruitful Question and Answer session with the participation of the audience. Questions were raised with regard to the practical issues and the panelists responded drawing from their own experiences.
Finally in her closing remarks, the moderator Hiranthi Fonseka observed that whilst integrity and trust are not new to Sri Lankans, the discussion on the Integrity Agenda is actually a wakeup call for Boards to become more vigilant.
By Ifham Nizam
Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.
The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.
Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.
‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.
His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.
The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.
Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.
The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.
The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.
But the investment also has a distinctly local agricultural dimension.
Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.
That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.
Duckworth said this type of business partnership could generate benefits for both countries.
‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.
‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.
The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.
For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.
HR-led transformation places people, culture and business performance at the heart of the organisation
Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.
Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.
The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.
At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.
These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.
Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.
The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.
AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.
The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.
AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.
The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.
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