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Lanka Rating Agency assigns ‘A+ (f)’ Stability Rating to Astrue Money Market Fund

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Astrue Money Market Fund officials and other dignitaries at the rating-conferment function

Reflecting strong portfolio quality, prudent management, and investor confidence

Lanka Rating Agency Ltd (LRA), Sri Lanka’s independent credit rating authority, has assigned an initial fund stability rating of ‘A+ (f)’ with a Stable Outlook to the Astrue Money Market Fund, managed by Asset Trust Management (Pvt) Ltd.

The ‘A+ (f)’ rating reflects the Fund’s strong capacity to maintain relative stability in returns, underpinned by a prudent investment framework, high credit quality allocation, and disciplined fund management practices.

Launched in 2024, the Astrue Money Market Fund seeks to preserve capital, maintain stable Net Asset Value (NAV) growth, provide high liquidity, and deliver regular income to investors through investments in high-quality, short-term money market instruments with maturities not exceeding 397 days. As of May 2025, over 73% of the Fund’s assets are allocated to AAA-rated securities, with a Weighted Average Maturity (WAM) of 293 days and portfolio duration of 312 days.

The Fund’s asset allocation remains diversified across Treasury Bills (46.6%), reverse repos against government securities (20.16%), placements in Non-Banking Financial Institutions (13.26%), and smaller exposures to Treasury Bonds, Trust Certificates, and Commercial Papers. Returns over the past year have been broadly in line with peers, with performance supported by disciplined risk management amidst a declining interest rate environment.

Commenting on the rating, Ms. Indulekha Karunarathne, Chief Executive Officer of Asset Trust Management (Pvt) Ltd, said:

‘We are deeply honoured to receive an A+ Outlook Stable rating from the esteemed Lanka Rating Agency of Sri Lanka. This prestigious recognition underscores the strength, reliability, and performance of the ASTRUE Money Market Fund, a unit trust fund meticulously designed to cater to every type of investor seeking steady wealth growth.

‘The ASTRUE Money Market Fund stands out as one of the best-performing money market funds currently available in the financial market. Our expert fund managers, supported by our dedicated research and analysis department, are fully equipped to navigate through challenging and adverse market conditions. Their expertise ensures that we consistently deliver holistic and optimal returns to our valued investor pool.

‘This A+ rating is a testament to our unwavering commitment to excellence and our mission to provide secure, growth-oriented investment opportunities for all. We remain dedicated to upholding the trust placed in us by our investors and will continue to strive for excellence in all that we do.’

Dr. Kenneth De Zilwa, Chief Executive Officer of Lanka Rating Agency Ltd, added:

“The ‘A+ (f)’ stability rating underscores the Astrue Money Market Fund’s strong governance, prudent investment strategy, and high-quality asset base. This recognition not only reflects the Fund’s consistent risk management and liquidity strength but also enhances investor confidence by affirming its capacity to preserve capital and deliver steady, reliable returns across market cycles.”

The Fund currently manages assets of approximately LKR 753 million (as of May 2025), holding a modest share of 0.21% within the overall money market fund category. While investor concentration remains a key area of monitoring, the Fund’s proactive management framework and adherence to SEC regulations are expected to sustain its stability going forward.



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USD 50 mn battery storage investment expected to power SL’s renewable energy push

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Arrival of the Battery Energy Storage System

Sri Lanka has taken a major step towards modernising its power infrastructure with the arrival of the country’s first commercial-scale Battery Energy Storage System (BESS), part of a USD 50 million investment expected to transform the integration of renewable energy into the national grid.

The first shipment of battery units arrived at the Port of Colombo recently for the landmark Galle and Matara BESS projects being developed by Galilee BESS (Pvt) Ltd, a subsidiary of KHEN Energy Limited. The projects are expected to play a pivotal role in enhancing grid stability, reducing renewable energy curtailment and strengthening the country’s energy security.

The shipment comprised 25 containers, including 18 battery units weighing 42 metric tonnes each, making it one of the largest and most technically demanding renewable energy cargo movements handled in Sri Lanka to date.

Energy industry officials describe the project as a milestone investment that will help bridge one of the biggest challenges facing renewable energy development—storing electricity generated from intermittent sources such as solar and wind power for use when demand peaks.

Once operational, the BESS facilities will support the National System Operator by absorbing excess renewable energy during periods of high generation and releasing it when required, thereby improving efficiency and reliability across the power network.

The technology is being supplied by global energy storage leader Sungrow Power Supply Co., Ltd., reflecting growing international confidence in Sri Lanka’s renewable energy sector and its long-term clean energy ambitions.

Beyond its energy significance, the project also highlights the increasing scale and sophistication of infrastructure investments entering the country.

Expolanka Freight (Pvt) Ltd was entrusted with the end-to-end logistics operation, overseeing customs clearance, specialised transportation, storage, unloading and final placement of the battery units at the project sites.

Finance and Project Director Fazul Ansar said the operation required extensive engineering studies, route assessments and rigorous safety planning owing to the hazardous classification and extraordinary weight of the cargo.

Head of Project Logistics Mohamed Niyas said months of preparation had gone into route surveys, lifting studies and risk mitigation planning to ensure the successful execution of the project.

Project officials said specialised multi-axle trailers and cranes with lifting capacities ranging from 100 to 150 tonnes were deployed for the operation, while access modifications and last-mile transport solutions were implemented at both project locations.

By Ifham Nizam

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AI and Data Analytics Summit 2026 drives the nation’s digital future

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Deshan Liyanage / Ransith Fernando / Prof. Lasith Gunawardena

The AI and Data Analytics Summit 2026 organised by the Sri Lanka Section of BCS, the Chartered Institute for IT was successfully held on 22nd May 2026 at Waters Edge, Colombo. The high-impact summit themed “Next Generation AI & Data Analytics: Skills & Thoughts for the Intelligent Future” brought together senior policymakers, global technology experts, industry leaders, academics, and innovators to explore how Artificial Intelligence (AI) and Data Analytics are reshaping the nation’s digital and economic future.

The event, endorsed by the Ministry of Digital Economy, was graced by Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, who attended as the Guest of Honour, underscoring the government’s strong commitment to advancing AI adoption, digital innovation, and data-driven governance in support of Sri Lanka’s broader public sector transformation agenda. Dr. Sadeep Jayasumana, Chief Scientist at Octave, delivered the keynote address on Generative AI, sharing insights into its transformative potential.

Speaking on the significance of the summit, Prof. Lasith Gunawardena, Chairman the Sri Lanka Section of BCS, the Chartered Institute for IT noted that Artificial Intelligence and Data Analytics have become present-day enablers of innovation, economic growth, and societal progress. He emphasized that the summit was guided by BCS’s purpose of Making IT Good for Society and by the national need to bring together thought leaders, practitioners, policymakers, and industry experts to foster collaboration, knowledge sharing, and the responsible adoption of transformative technologies, thereby strengthening Sri Lanka’s digital readiness and supporting a resilient, inclusive, and globally competitive digital economy.

Ransith Fernando, Chair of the summit mentioned ” This year’s summit brought together 21 speakers who shared valuable insights, ideas, and experiences. We heard inspiring success stories, gained practical knowledge from industry practitioners, and explored strategic perspectives from business leaders. These conversations highlighted both the opportunity and the responsibility before us. While innovation is accelerating globally, Sri Lanka must align policy, talent, and industry readiness to truly operationalize AI at scale and ensure an inclusive and sustainable digital transformation.”

Deshan Liyanage, Co-Chair of the AI and Data Analytics Summit 2026 commented that this year’s summit was a fully sold-out event, reflecting the growing national momentum around Artificial Intelligence and Data Analytics in Sri Lanka. He extended heartfelt gratitude to all participants who joined and contributed to the success of the summit, as well as to the sponsors whose support made the event possible. Special appreciation was conveyed to Sysco LABS as the Strategic Partner, Linear Six as the Bronze Partner, InTalent Asia as the Resource Partner, and Motivista as the Event Partner. He also acknowledged the valuable collaboration of industry associations including SLASSCOM, FITIS, and CSSL, whose partnership helped strengthen and elevate the initiative.

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Eswaran Brothers empowers women through a transformative leadership journey

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Participants of Eswaran Brothers Exports’ She Transforms leadership development programme

As part of its commitment to advancing women’s empowerment and building a stronger leadership pipeline, Eswaran Brothers Exports (EB), a leading tea manufacturer in Sri Lanka, launched its flagship women’s leadership initiative, She Transforms, a customized six-month leadership development journey. Developed with award-winning leadership expert Senela Jayasuriya and supported by Value for Women, the programme forms a key pillar of the Company’s wider gender agenda focused on leadership capacity building, inclusion and long-term institutional change.

Women make up 44% of Eswaran Brothers’ workforce, yet only 23% held senior roles at the time of an initial gender diagnostic conducted with Value for Women and supported by FMO, the Dutch Development Finance Bank. The assessment found that despite their potential, many women faced unclear career pathways and limited structural support at critical life stages.

In response, Eswaran Brothers introduced strategic mindset and policy interventions designed to remove barriers and create a more enabling environment for women to grow and lead. These efforts included mentorship opportunities, enhanced support for employees returning from maternity leave, coaching for managers, and initiatives aimed at strengthening inclusion and career progression across the organization.

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