Business
CEAT Kelani soars to new altitudes with 17 Golds for Quality Improvement Projects
CEAT Kelani Holdings has won a jaw-dropping 17 Golds at the National Convention on Quality and Productivity (NCQP 2025) for Quality Improvement Projects (QIPs) conducted in the past one year, more than doubling the number of Golds the company won at this event in 2024.
Notably, CEAT Kelani included the results of two non-manufacturing QIPs this year among the 17 projects it submitted for the awards, and won Gold for both. Additionally, the CEAT Team received two special awards at the Kaizen (Change for the Better) competition conducted as part of the national convention.
“There can be no better avowal of our commitment to improving operational standards and optimising efficiency than these awards,” CEAT Kelani Chief Operating Officer Mr Shamal Gunawardene declared. “They also affirm that with the wholehearted participation employees at every level, CEAT Kelani continues to set benchmarks in quality and productivity improvement, further reinforcing its leadership and commitment to excellence in the industry.”
The 15 Quality Improvement Projects in manufacturing that won Gold awards for CEAT this year pertained to calendar-related fabric scrap reduction; fabric scrap reduction at the radial plant; centralised and on-time monitoring of radial curing press data; accuracy improvement in dual extruder tread monitoring; reduction of compound downgrades; light truck radial claims reduction; reduction of light bead defects at the two-wheeler tyre plant; reduction in of two-wheeler claims at the Kelaniya plant; improving boiler efficiency; elimination of radial belt rubberising defects; press breakdown reduction; controlling of Green Tyre weight variation; claims reduction at the Kalutara plant; reduction of truck tyre defects; and reducing injuries at the Kalutara plant.
The first of the two non-manufacturing projects that won Gold related to the adoption of online learning at CEAT Kelani to stimulate digital learning across the organisation. It not only delivered measurable returns on investment, but also laid the foundation for a future-ready, digitally fluent workforce, the company said.
In a significant move to accelerate technological innovation in Sri Lanka, Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, and the Dialog-University of Moratuwa (UoM) Research Lab, has announced the release of SinhalaVITS, a state-of-the-art, open-source Text-to-Speech (TTS) model for the Sinhala language.
This non-commercial initiative delivers a powerful, high-quality, and natural-sounding Sinhala voice model to the public, making it freely accessible to developers, researchers, and students. The model is available for download on Hugging Face, the world’s largest open-source AI community, empowering anyone to build and experiment with advanced voice technology.
The SinhalaVITS model is the result of a deep-rooted collaboration that unites Dialog’s industry leadership with the academic excellence of the Dialog–UoM Mobile Communications Research Lab, fulfilling a vital need within Sri Lanka’s tech community for accessible, high-performance tools that drive innovation. By removing cost and licensing barriers tied to proprietary software, Dialog is empowering developers and researchers while fostering a more inclusive, collaborative, and future-ready AI ecosystem. This initiative further reinforces Dialog’s commitment to advancing Sri Lanka’s digital future—investing in open-source technology and academic partnerships to nurture local talent and lay the foundation for next-generation digital services built by Sri Lankans, for Sri Lankans.
The Hatton National Bank PLC (HNB PLC) commemorated raising LKR 10 bn with its first ever issuance of sustainable bonds by way of a market opening ceremony conducted on the trading floor of the Colombo Stock Exchange (CSE) last week.
The 9th December issuance of 100 mn listed, rated, unsecured senior sustainable bonds, in five year and seven-year tenors, with a par value of LKR 100/- and rated “AA-(lka)” By Fitch Ratings Lanka Limited, was oversubscribed on the same day, raising LKR 10 bn.
Sustainable bonds, which were launched in Sri Lanka for the first time this year, are part of a series of GSS+ (Green, Social, Sustainable & Sustainability Linked) debt instruments. The proceeds of the sustainable bond issuance will be used by HNB PLC to fund the development and installation of solar, wind, biomass and hydropower projects, improve energy efficiency through retrofits, fund the construction of recognized ‘green’ buildings, fund investment infrastructure for water treatment, water conservation and efficient agricultural water technologies, finance housing development, healthcare and education for low- and middle-income families, promote women entrepreneurship, amongst others initiatives.
Damith Pallewatte, Managing Director and CEO of HNB PLC, who was the ceremony’s keynote speaker remarked upon the issuance of sustainable bonds commenting: “HNB’s LKR 10 bn sustainable bond issuance is a landmark step in advancing Sri Lanka’s sustainability agenda.”
Delivering his welcome address at the event, Rajeeva Bandaranaike, CEO of CSE, remarked upon rising corporate engagement in CSE’s GSS+ debt instruments stating: “HNB’s Sustainable Bond represents a welcome new addition to the list of leading Sri Lankan financial instruments that have set the example for the success of CSE’s GSS+ Bond framework which have allowed the capital market to operate as a financing vehicle for sustainable and socially equitable projects.”
Business
DFCC Bank advances acquisition of Standard Chartered Sri Lanka’s retail and wealth business
DFCC Bank PLC has informed the public that with the necessary approval from the Central Bank of Sri Lanka to proceed with its proposed acquisition of the Wealth and Retail Banking business of Standard Chartered Bank Sri Lanka Branch, it will continue the process in the coming months.
An announcement made by the DFCC Bank in compliance with the Colombo Stock Exchange Listing Rules stated:
“With this key regulatory clearance secured, DFCC Bank will now move forward with the subsequent phases of the transaction, including the integration and migration of the business operations.”
“The acquisition is scheduled for completion by the second quarter of 2026. A further update will be provided upon the finalisation of the transaction.”
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