Business
Vintage Vignettes from the Life and Times of Upali Wijewardene
Extracts from the book titled ‘Vintage Vignettes’ by
Vinodh Wickremeratne, which provides some interesting recollections of the life and times of Philip Upali
Wijewardene, Founder and Chairman of the Upali
Group of Companies, the first multinational business in Sri Lanka.
Continued from yesterday
I suggested what about a Link connecting the Matara-Kamburupitiya motorway at a mid-point with Tangalle.
UW gave the thumbs up.
IF I WERE A RICH MAN
UW said ‘I can personally UPGRADE Kamburupitiya to a MODERN place after but, since I am NOT RICH ENOUGH to build Railways and Motorways, ‘I will get DBS (Development Bank of Singapore), the ADB or EX1M BANK of Japan to fund them.
Because of Trade Unions and Inland Revenue Policies, sometimes LIFE is not worth living’
‘When ready, Vinodh go to Sri Lanka and recommend the trains I should buy’. Also. the structure of OPERATIONS with regard to maintenance, safety, management and revenue’.
‘Remember, NO CONNECTION with the Government railway, otherwise same FR -AR and UNIONS, so I will I give to a Japanese outfit or to KTM’.
.’We need only two Electric train sets and a SPARE. Also, similarly styled Aviation fuel carriers and freight carriers to transport raw material and finished products to and from the Kamburupitiya EPZ’.
Additionally, a few container FLATS.
I envisaged the Japanese gauge of 3′ 6″ or METRE Gauge, as this would ISOLATE from the Government system, for transporting containers a WELL type wagon to lower the Centre of gravity.
SLS FOR A FEW DOLLARS MORE Ennio Morricone
UW said ‘High time we change over the RUPEE and use LANKA DOLLARS if we want to be DEVELOP rather than ‘Developing for ever’. ASEAN is considering us for membership.’
(Malaysia had DOLLARS in their WAKE UP era.)
PILGRIMS’ PROGRESS John Bunyan
KAMBURUPITIYA to have the HIGHEST STANDARD OF LIVING with Air Conditioned schools, a University, State of the art hospitals, Supermarkets, TELEPHONES, electricity and running water in EVERY HOME
UW mentioned ‘to achieve this, we need to ENCOURAGE Tourism and
INVESTORS by way of Attractions: Government licensed BEER and booze ANYTIME and ANYWHERE,’ More FOREIGNERS’ ONLY Casinos.
UW mentioned I don’t like strong Spirits or Beer, but a Glass of GOOD WINE always welcome. UW mentioned ‘I am not a Strong alcohol drinker, but to promote much needed TOURISM and since I am not an IDIOT, I will encourage Government licenced LIQUOR to be FREELY available’ .
‘Also, we must take a SLICE of Singapore’s share of NIGHT LIFE, so that we become a vibrant NIGHT destination.’
UW said ‘No harm in being a RICH country with a Strong economy’
UW was of the idea that GAMBLING needs to be regulated, like ONE BET for a DAY, otherwise a new generation of POOR would emerge.
I mentioned BAR licencees should have a mandatory holding area to keep intoxicated patrons from wandering about causing accidents.
Tao mentioned ‘You might TAKE the SHARE off Singapore prosperity’ .
‘So Upali won Sri Lanka come out from KAMPONG to METROPOLIS.’
MEN ONLY, GOOD COMPANIONS J.B. Priestley
UW mentioned ‘I have thought of a UNIQUE PRESENTATION like no other, may be reality in about five years, I have already spoken with I Keerthi, Aathma and Mangiboy, this will be named MANHUNT’ .
U W said ‘see Singapore clue to a NIGHT ECONOMY came from the Singapore
THIRD WORLD to the FIRST, I want Lanka to be like that.’ Then we Singhalese can have Pakistani drivers and BANGLA servants at home’.
(Sri Lanka ONLY sees the DARK SIDE of the NIGHT… in A WORLD OF ITS OWN)
KAMBURUPITIYA to have Zero unemployment, Zero garbage, zero Trade Unions, then the FACTORS OF SUCCESS are manageable.’
Cleaning the bazaars and the environs of Kamburupitiya to be given to a Singaporean firm.
Tao said’ Can you peoples MAINTAIN and SUSTAIN all these?’
A LITTLE MORE TO THE WEST – Cuthbert Calculus
UW said ‘I will aim for Cultural transformation, then, we can be a WESTERN setup’.
I chuckled, we are AHEAD of the West ONLY with G M T. If dont ape the West; we remain APES.
UW proclaimed ‘Kamburupitiya and the MATARA DISTRICT can TAKE OFF leaving Colombo IN THE DUST.
Kamburupitiya NEWSLETTER (Bilingual), ENGLISH classes, instilling CONFIDENCE to use Western type IN HOUSE bathrooms Kamburupitiya homes to have ATTACHED BATHROOMS in lieu of detached Toilets.
GREAT SCOTLAND YARD Thompson and Thomson Villagers had (if at all) A ATTACHED toilet, 3’x3,’ SQUAT land Yard.
CARRY ON ROUND THE BEND Sidney James AT YOUR CONVENIENCE
UW mentioned that he would be ordering 150 WESTERN type Sanitaryware sets with the required supporting plumbing and fittings.
GONE WITH THE WIND Margaret Mitchel, ClarkGable, Vivien Leigh.
In addition an Exhauster fan for each of the 10′ x 6′ bathrooms,
WHITE tiles for the floors and walls would also be provided. The idea is to make the householders ‘BATHROOM PROUD’.
Selectively DISABLED ASSIST bars would be installed as needed.
‘The pantry and the BATHROOM should be the measuring unit of DIGNITY’
UW mentioned he would incentivise women away from the TKB mentality, (Temple Kitchen Babies) as expressed by TAO.
‘If you return to Sri Lanka, you should be in the Finance & Planning Ministry or the Central Bank, not a GLORIFIED shop keeper in Fort’.
I can arrange that, Dickie aiya has mentioned that Ronnie is getting rusty and cantankerous, so I can REPLACE him.
GREAT EXPECTATIONS Charles Dickens Or at least you be CHAIRMAN of the KDA.
RUNNING IN THE FAMILY Michael Ondaatje
If you are not available, I have two nephews who show GREAT capability as they are GRANDSONS of Kamburupitiya.
LE RODNOC SAPA (with Apologies to PAUL and ART). We exchanged ideas that we enjoy being HAMMERED LIKE A NAIL at the IMF, go there repeatedly with the BEGGING BOWL and other practical observations.
We remained a further hour exchanging CRITICAL OPINION, UW said any overflow of PROSPERITY to be diverted to Kelaniya and Kundasaley,
I mentioned that Unions THRIVE on the POVERTY of the Working class.(Non-working on strike)
UW took out the STRAITS TIMES to have a look. (The Straits Times is read by ‘ordinary’ Singaporeans to consider STOCK OPTIONS in New York and London Exchanges.)
(We, with our ABUNDANCE of SCARCITIES, Koholla stuck Sons of the soil. WORMS can look at STUCK OPTIONS in the Dire is Straits Times)
We discussed with MY opinion that FREE education is misunderstood as Nidhahas Adyapaya when it should be Nomiley Adyapanaya.
We discussed that B.A is BAD Attitude and that the future MBA is Myths Bad Attitude, progressing to a PHD (Permanent Head Damage).
We discussed the MENTALITY of our Mahajanaya, any excuse for a Dhaney when they cannot FEED themselves, the Breadwinner when terminally ill is looked after with borrowed money, at death the funeral is on further LOANS, then a series of LAVISH Dhaneys getting further into DEBT.
Spend FREELY, then borrow freely, SPEND what was borrowed in the same FREE fashion. The interest on borrowed money is also met by borrowing further: INTERESTING!
‘PINATA and NAYATA culture must END’, I will personally conduct group discussions, aiming for Southerners to come out of POVERTY’.
UW Mentioned a paradigm change is needed. NO MORE DHANEYS from the Poor of Kamburupitiya.
No more KATINE poojas BY the POOR.
(KATINE POOJA is an EXTRAVAGANT extravaganza by the POOR with Drummers and dancers along with LOUD firecrackers waking sleeping neighbourhoods at 2.00 am)
UW and self discussed that Temple education should include INSTRUCTIONS on the correct side of the road to walk (I have seen parents walking on the LEFT with children hanging RISKED on the path of motor vehicles)
After TEMPLE or church people emerge intoxicated, fuddled and HALLUCINATED.
3K development (Kamburupitiya, Kelaniya and Kundasale) to be RICH places by Year 2000.
Kamburupitiya to be gifted 20 UMC Mazda Car & Fiats for FREE emergency hire with all Drivers given MOTOROLA Dynatacs.
�KUNDASALE area to be ADVANCED like Singapore, in addition with ;111 International CRICKET stadium, GOLF nearby and other modernities.
‘Only that WIJESIRI is a BIG problem.’
KANDY to remain a MUSEUM!
UW and self agreed that South Korea, Japan and Singapore are physically in the EAST but MENTALLY WESTERN.
YELLOW RIVER Christie
We discussed modernities for SEDAWATTA, I suggested that the sea has enough water, and that waters from the KELANI could be used to turn wheels for small industry, soft drinks and Beer, also irrigate Home gardens for Fruit and veg.
(Now in the BIYAGAMA and Ranala areas are bottling plants for LION BEER, Elephant Brand and COCA COLA).
YOU ARE THE SUNSHINE Johnny Cash; THE SUN ALSO RISES Ernest Hemingway
UW said, I am not a Zoroastrian, but the SUN has a lot of potential, that’s why my logo is the SUN. We can harness the sun for cooking, converting its HEAT for refrigeration, all SUMMA.
Tao said ‘Vinowh is vely diffllent thinking, can me also make use of the Vinowh in Colombo’.
I remarked that Colombo city has reached its limits, UW said ‘FILL the SEA’ around Fort.
I reminded that we have no resources to fill POTHOLES on the streets.
ENTER THE DRAGON BruceLee, Jim Kelly, John Saxon LAVINIA
UW was of the view that in the future ECONOMIES of India and China would be a FORCE to reckon with and one of them would step in to FILL the sea and ENLARGE Colombo.
‘China will take a RIGHT TURN (Correct direction) to be a SUPER POWER.
INDIA anyhow has the monopoly in inf1uence in the region with a DOCTRINE.
‘Vietnam and Bangladesh are also KEEN to be AHEAD of us’.
Also that SURPRISING things are ‘due’ in the EASTERN Bloc, in ten years time, there may be no Union of SSR.
GOING MY WAY Bing Crosby
UW mentioned ‘If I can DO IT MY WAY will ENSURE for Lanka to be OUT of the POOR category by YEAR 2000’.
(When you are NOT POOR it is easier to become RICH)
UW mentioned that serious developments are happening in the North, the new group calling itself the Liberation Tigers of Tamil Eelam has ousted other groups and is being nurtured by CONFLICT BENEFICIARIES like Redd Barna, Amnesty, the Red Cross and SCANDOS to keep a CIVIL WAR going.
(Vinodh Wickremeratne could be contacted on 0714947600 or emailed on, vinodhwix71@gmail.com)
Concluded
Business
“RDB Drives Unprecedented Growth with Record Profits Fueling Expansion and Development Impact”
The Regional Development Bank (RDB) delivered an exceptional financial performance for the year ended 31 December 2025, recording an 86% year-on-year increase in Profit After Tax to LKR 2.37 billion. The Bank’s total income reached LKR 42.81 billion, driven by a 23.89% growth in Net Interest Income to LKR 24.23 billion, complemented by steady contributions from both interest and fee-based income streams. This performance highlights the Bank’s ability to optimise its asset base while sustaining a well-diversified and resilient revenue profile.
Marking its 40th anniversary in 2025, the Bank’s exemplary performance underscores the strength of its resilient operating model, disciplined execution, and its growing role as a catalyst for inclusive economic progress in Sri Lanka. Profitability metrics strengthened notably, with Return on Assets (ROA) improving to 1.70% and Return on Equity (ROE) increasing to 11.77%, demonstrating enhanced efficiency in capital deployment and earnings generation.
Commenting on the Bank’s performance, Chairman Lasantha Fernando stated,
“Our performance in 2025 reflects the strength of a purpose-driven banking model that successfully balances financial sustainability with national development priorities. As Sri Lanka progresses on its path to recovery, our commitment to enabling inclusive growth remains unwavering.”
The Bank continued to expand its development-focused lending portfolio, with loans and receivables growing by 23.59% to LKR 302.54 billion. This growth supported priority sectors including agriculture, SMEs, manufacturing, housing, and rural enterprises representing segments critical to national economic revitalisation. Importantly, this expansion was achieved alongside improved asset quality, with the Stage 3 impaired loans ratio declining to 4.06% from 6.25%, demonstrating robust credit risk management and effective recovery strategies.
Customer confidence remained strong, with deposits increasing by 11.85% to LKR 283.72 billion, driven by growth in both savings and fixed deposits. The Bank also maintained liquidity ratios well above regulatory thresholds, reinforcing its financial stability and resilience
Asanga Tennakoon General Manager/Chief Executive Officer, highlighted” last year’s results underscore the impact of disciplined execution, prudent risk management, and a strong customer-centric approach. Looking ahead, we will continue to expand our reach, strengthen digital capabilities, and deepen financial inclusion to create sustainable value for all stakeholders.”
Business
SLIC Life and SLIC General Create New Employment Opportunities
Sri Lanka Insurance Life Ltd (SLICLL) and Sri Lanka Insurance General Ltd (SLICGL) together appointed 112 Trainee Insurance Assistants, marking one of the largest recruitments across both companies in recent years.
Of the total intake, 87 candidates joined SLICGL while 25 candidates were appointed to SLICLL. This recruitment reflects the continued efforts of both companies to strengthen their workforce while contributing to employment opportunities.
The recruitment process was conducted through a structured and independent evaluation framework to ensure transparency and merit-based selection. Applications were invited from eligible candidates island-wide, followed by a written examination. Candidates who met the required benchmarks were shortlisted for interviews conducted by an independent panel, reinforcing fairness and credibility throughout the process.
The newly appointed Trainee Insurance Assistants represent a diverse and capable talent pool. Approximately 30% of the recruits are graduates, while all candidates possess the required academic qualifications, including G.C.E. Ordinary Level and Advanced Level certifications, or equivalent diplomas and higher qualifications.
This intake is aligned with the long-term focus of SLICLL and SLICGL on developing human capital and nurturing future-ready professionals within the insurance industry. The new recruits will have access to structured career growth opportunities, enabling them to build sustainable careers within the organisations. Efforts have also been made to assign employees to locations closest to their places of residence, subject to operational requirements, ensuring both efficiency and employee convenience.
Commenting on the appointments, Nusith Kumaratunga, Chairman of Sri Lanka Insurance stated, “The onboarding of this new group of Trainee Insurance Assistants reflected our continued focus on building strong and capable teams across both SLICLL and SLICGL. By maintaining a transparent and merit-based selection process, we remained committed to creating opportunities for talented individuals while strengthening the foundations for long-term organisational growth. This initiative also aligned with our broader role in supporting employment generation and contributing to the country’s economic progress.”
The official appointment ceremony was held on 7th April 2026 at the SLIC Head Office, in the presence of the Chairman and the Corporate Management of SLICLL and SLICGL, marking an important milestone in the organisations’ ongoing people development journey.
Business
99x Wins Five Awards at Best Management Practices Awards ‘26, Showcasing AI-led Transformation
99x, a leading global product engineering company, has secured five major accolades at the CPM Best Management Practices Awards 2026, including an Overall Gold Award, positioning the company among Sri Lanka’s top-performing organisations in management excellence. The company was also recognised as the Sector Winner for IT, Software & BPO Services, named among the Forty Outstanding Companies, and received the Best Management Practices Excellence Award. In addition, Hasith Yaggahavita, CEO of 99x, was honoured with the Leadership Excellence Award, acknowledging his role in driving the organisation’s AI-led transformation.
The recognition was awarded for 99x’s submission titled ‘Embracing AI: Rethinking Talent, Products & Services,’ which addressed one of the most pressing shifts facing the global technology services industry today. As AI continues to redefine how software is built and delivered, traditional outsourcing models are being challenged from reduced reliance on large engineering teams to a growing shift toward outcome-based delivery and faster go-to-market expectations.
Chatura De Silva, Chief AI Officer at 99x, stated, “Winning five awards at one stage is a proud moment for us as a team. While AI is driving change across the industry, what made this possible is how we chose to adapt to it. We recognised that AI is not just a layer on top of what we do, but that it changes the foundation of how value is created. This transformation was about connecting both our talent and delivery, while embedding AI across everything we do”.
Selected from over 150 award submissions, 99x was also among the top 10 organisations invited to present its journey at the CPM Management Insights Summit 2026, placing its transformation on a national stage among the country’s most forward-thinking enterprises. Chatura De Silva, Kalana Wijesekara, Chief Developer Experience Officer and Chrishan de Mel, Chief Marketing and Corporate Affairs Officer, presented 99x’s story.
Commenting on the significance of this year’s awards, Dilshan Arsakularathna, CEO of The Institute of Chartered Professional Managers of Sri Lanka, stated, “99x securing the Overall Gold Award among organisations across multiple industries reflects the level at which Sri Lanka’s IT sector is progressing today. It demonstrates how companies are building real capability and driving innovation that can confidently stand on a global stage. Notably, 99x has now become the first organisation to secure the Overall Gold Award twice across the five editions of the BMPC Awards. This remarkable achievement reflects their strong commitment to sustaining excellence and continuously embedding best management practices within their operations. What stood out with 99x was how they have adapted to change in a practical and forward-thinking manner, reshaping how they operate and deliver value, while setting a compelling benchmark for modern management practices.”
-
News4 days agoCEB orders temporary shutdown of large rooftop solar systems
-
Features4 days agoFrom Royal College Platoon to National Cadet Corps: 145 years of discipline, leadership, and modern challenges
-
Business6 days agoIsraeli attack on Lebanon triggers local stock market volatility
-
Business6 days agoHNB Assurance marks 25 years with strategic transformation to ‘HNB Life’
-
Latest News3 days agoPNS TAIMUR & ASLAT arrive in Colombo
-
News5 days agoAnura Solomons passes away
-
Features4 days agoCIA’s hidden weapon in Iran
-
Latest News3 days agoPrasidh, Buttler set up comfortable win for Gujarat Titans
