Business

A wake-up call for Charith Asalanka?

Published

4 months ago

2025/11/9

Charith Asalanka’s captaincy came under the scanner during the recent Asia Cup.

Sri Lanka’s cricket has been through the wringer since missing out on the Champions Trophy, but there’s finally a sense that the ship is being steadied. Pathum Nissanka is our big hope like Aravinda de Silva was in the good old days.

The side has been moving forward with calculated precision — ticking boxes, planning long-term and more importantly, stacking up some prized scalps. Beating world champions Australia in an ODI series this year was the icing on the cake after that memorable series win over India last season.

The Asia Cup, however, proved that the road to redemption is still full of potholes. After a promising start, Sri Lanka ran out of steam in the Super Four — losing to Bangladesh and Pakistan, while the high-scoring tie against India only rubbed salt into the wounds. It was a classic case of doing the hard work early and then taking the foot off the pedal when it mattered most.

When it comes to leadership, Sri Lanka has usually played a straight bat. Arjuna Ranatunga, Mahela Jayawardene, Angelo Mathews — all were nurtured carefully, learning the ropes before being handed the reins. Charith Asalanka followed a similar trajectory, rising through the ranks with promise. Of course, there have been odd instances when a senior player parachuted into the job, but those short-term experiments rarely stood the test of time.

Asalanka, though a natural leader, had a mixed outing at the Asia Cup. His decision to toss the ball to Dunith Wellalage for the final over against Mohammad Nabi nearly cost Sri Lanka the match — only Kusal Mendis’ composure saved the day. But lightning doesn’t always strike twice. Other tactical missteps, especially his hesitation to use Dasun Shanaka in crunch overs while trusting his college mate Kamindu Mendis instead, raised eyebrows in the dressing room and beyond.

With the bat, Asalanka has been one of the mainstays in the 50-over format, but his T20 returns have been scratchy at best. The selectors, never ones to mince words, have sent a subtle but sharp message. When naming squads for the Pakistan tour, they left the vice-captaincy slot blank in ODIs — but handed it to Shanaka in T20s. The writing, as they say, is on the wall.

Asalanka is no mug with the bat or with leadership, but he’s got to tighten a few screws — literally and figuratively. His fitness remains a talking point and appearances do him no favours. Yet, under the watchful eye of Sanath Jayasuriya, now Head Coach, he’s begun to address a few key areas. He deserves a fair run — at least till the World Cup Sri Lanka co-hosts with India.

As for Dasun Shanaka’s return as deputy, one wonders whether that’s a backward step. Shanaka has worn the armband before and the team seems to have turned the page. His experience will be handy, no doubt, but leadership is a baton best passed forward, not back. When Dunith Wellalage returns to the mix, it might be time to groom him as the next in line. Like Arjuna, MJ, Angelo and now Charith, Wellalage too has come through the system, learning the trade ball by ball.

For Asalanka, this might just be the nudge he needs — the well-timed bouncer that wakes a batsman up. If he plays it right, he could pull it for six. If not, the selectors might already have the next captain warming up in the nets.

by Rex Clementine ✍️

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Business

Embedding human rights, equity and integrity into business leadership

Published

8 hours ago

2026/03/5

Sahan Weerasooriya

Rathika de Silva, Executive Director

At its 2026 Social Sustainability Programme Kick-Off, the UN Global Compact Network Sri Lanka convened business leaders to advance the translation of global ambition into practical corporate action on inclusion, integrity and human rights.

On 24 February 2026, the UN Global Compact Network Sri Lanka (Network Sri Lanka) convened business leaders at Barefoot Garden Café for its 2026 Social Sustainability Programme Kick-Off, delivered in collaboration with Good Life X.

The gathering did more than introduce a calendar of events. It positioned Sri Lanka’s corporate community within the broader direction of the UN Global Compact’s 2026–2030 global strategy — a strategy anchored in three imperatives: equipping companies to act, catalyzing collective action, and advancing the business case for responsible leadership.

At its core, the 2026 Social Sustainability agenda is designed to move companies from commitment to capability.

Within the Diversity & Inclusion Working Group, this means building practical pathways toward equal pay for equal work and strengthening male allyship as a governance issue rather than a cultural afterthought. It means examining sexual and reproductive health, disability inclusion, and mental health not as employee benefits, but as structural determinants of productivity and retention. It means sharpening strategic communications so inclusion is embedded in brand integrity. It also means applying science-based behavioural change approaches to shift organizational culture in measurable ways.

Across the Business & Human Rights Working Group, equipping companies takes the form of deepened engagement on decent work and living wage implementation, strengthening human rights due diligence processes, and addressing emerging risk areas such as AI and digital rights. It extends to reinforcing business integrity and anti-corruption frameworks, understanding the social dimensions of a just transition, and recognizing the link between child rights, nutrition, and workforce productivity.

Business

Union Bank to raise LKR 3 Bn via Basel III Compliant Debenture Issue

Published

8 hours ago

2026/03/5

Sahan Weerasooriya

Shanka Abeywardene

Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.

The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.

Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.

The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.

Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”

Business

Sanjay Kulatunga appointed to WindForce Board

Published

8 hours ago

2026/03/5

Sahan Weerasooriya

Sanjay Kulatunga

WindForce PLC announced the appointment of Sanjay Kulatunga as an Independent, Non-Executive Director to its Board with effect from 03rd March 2026, following the resignation of Dilshan Hettiaratchi. The appointment further strengthens the Company’s governance framework, strategic oversight, and long-term decision-making capabilities.

Kulatunga brings an established track record as a founder, entrepreneur, and senior executive across financial services and export-oriented industries. He is the Chief Executive Officer and Co-Founder of LYNEAR Wealth Management, a boutique investment firm established in 2013, which has since grown to become one of Sri Lanka’s largest private wealth management institutions, serving high-net-worth individuals as well as local and international institutional clients.

Prior to founding LYNEAR, Kulatunga played a pivotal role in the establishment of Amba Research, an investment research offshoring firm rooted in Sri Lanka and now operating as part of Acuity Analytics.

Over the years, he has contributed extensively to several key national institutions. His previous appointments include serving on the Financial Sector Stability Consultative Committee of the Central Bank of Sri Lanka, as well as the Board of Investment of Sri Lanka and the Securities and Exchange Commission of Sri Lanka.