Business

EMA calls for enforcement of COVID-19 safety amidst re-start of events

Published

5 years ago

2021/07/18

Following the easing of Covid-19 restrictions in Colombo, the Event Management Association (EMA) issued comprehensive guidelines for hosting COVID-safe events and called for strictest possible adherence from stakeholders.

The EMA’s Handbook, lists out detailed safety and hygiene standards and protocols to ensure that all future events will be hosted in a responsible manner – minimizing the risk of COVID-19 transmission at events in order to avoid further shutdowns of an industry that is already on the verge of collapse after 14 months of closure.

The EMA represents the interests of an array of business segments, from event management companies, wedding planners, equipment rental companies (sound systems, lighting, LED, etc.) stage & set fabricators, furniture & infrastructure rental companies, and digital creatives companies to venues, florists, musicians, event support services, entertainers, dance troupes, artists, designers, technicians and many more. In total, the entire sector is estimated to contribute as much as Rs. 30 billion towards the national economy.

“We express our collective gratitude to the Government for taking a positive decision that will allow our members to earn a living after several painful months. While we welcome the opportunity for events to be hosted once more, extremely strict enforcement of comprehensive safety protocols is essential to avoid transmission of COVID-19 at events.

“When events were previously allowed, we have been disappointed to see many instances when these measures were totally disregarded. If such carelessness recurs and further COVID-19 cases arise, another shutdown will risk permanently destroying what is left of our industry. For the sake of all those employed and the families who depend on our industry, this cannot be allowed to happen. We therefore call on all stakeholders to implement and enforce our recommendations immediately and without compromises,” Roshan Wijeyaratne, President, EMA stated.

“Many event companies have made massive investments into infrastructure, equipment, and development of skills with investments ranging from Rs. 10 Mn to Rs. 800 Mn per business. They are now on the brink of collapse and are struggling to pay wages and meet financial commitments. Without assistance, they face impending bankruptcy. This will affect 130,000 direct and 600,000 indirect jobs and the people and families who depend on our industry for their livelihood,” Sajith Kodikara, Vice President, EMA.

Events are considered essential to businesses as a vital tool of ‘live communication’ which enables a cross-section of industries to present new products to the market and generate sales. In that regard, a high frequency of corporate events is often correlated with a healthy economy.

For countries that are beginning to emerge from COVID-19, face-to-face meetings and events are a priority feature of work they are looking to restart. A study of 125 New Zealand-based organisations found that 97% are planning to hold a business event in 2021 – up from 94% of respondents to a survey conducted in May 2020#. Another recent study found that business travel has increased by 55% since restrictions eased while 37% of respondents expect to resume travel in 2021.

“Another crucial factor to consider is the potential for Sri Lanka to be positioned as a ‘safe event hub’ for MICE and destination event tourism which will accelerate Sri Lanka’s economic revival. That is provided we are able to get the health crisis under control with a scientific approach and a sustainable way forward for the industry. If we delay, we will most certainly lose out on business to other countries in the region,” Nishan Wasalathanthri, Treasurer Member, EMA.

In emulation of global best-practices adopted as a solution to ensure compliance of guidelines, the EMA Handbook proposes the appointment of ‘safe-event ambassadors’ tasked with reporting on non-compliance of guidelines.

“The handbook is created to simplify the organisers’ tasks of planning and hosting events and to mitigate the risk of weaker standards being applied. While the guidelines are already comprehensive, we expect to update it with additional information shortly,” Minha Akram, Committee Member, EMA added.

The Association also expressed its support for the Government’s efforts to control the pandemic and re-start the Sri Lankan economy.

“As with many sectors of the economy today, our industry is in dire peril. There is however a light at the end of the tunnel, in the form of mass vaccination. We take great encouragement from the Government’s emphasis and continuing rollout of vaccines to the public and request the prioritization of vaccines for industry members.

“In order for all sectors of the economy to scale up activity, and have a meaningful chance at recovery, we need to achieve 60% vaccination as soon as possible. Only then will we be able to see larger scale events take place. We also take this opportunity to urge the public to continue cooperating with public health measures to speed our progress to recovery,” Gerry Jayasinghe, Advisory Counsel, EMA said.

The EMA handbook will be available online on www.emalk.org from July 19, 2021.

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Business

Amana Takaful concludes Rights Issue, raises over Rs. 1 billion

Published

2 mins ago

2026/06/23

Sahan Weerasooriya

Amana Takaful PLC has successfully closed its Rights Issue, raising more than Rs. 1 billion through the allotment of over 52.8 million new ordinary voting shares priced at Rs. 19 each. The offer, extended exclusively to existing shareholders, was oversubscribed by 68.8%, signaling solid investor confidence in the company’s direction.

The response builds on a period of steady expansion for Amana Takaful, which has invested in digital initiatives such as a revamped mobile app and streamlined claims processing, alongside growth in its motor, medical, and broader general insurance offerings. The company has also picked up several industry accolades along the way, including recognition among Sri Lanka’s Most Awarded Companies.

Siva Karthigun, CEO of Amana Takaful General Insurance, said the strong uptake reflects shareholder confidence in the company’s long-term strategy and digital transformation efforts, adding that the additional capital strengthens the company’s financial position as it moves into its next growth phase.

Shareholders were offered three new shares for every fourteen held. Proceeds from the issue are earmarked to support the company’s ongoing growth and to prepare for the upcoming implementation of SLFRS 17 and SLFRS 9. The capital raise also bolsters Amana Takaful’s Tier I Capital, providing greater financial flexibility for future expansion in its General Insurance business.

Asia Securities Advisors (Pvt) Ltd served as the Consultant Broker to the Rights Issue.

Business

Sri Lanka-China relations “Beyond Commerce”: Peking University delegation conducts in-depth research on bilateral cooperation in Colombo

Published

3 mins ago

2026/06/23

Sahan Weerasooriya

Interview with Governor of the Western Province of Sri Lanka

A delegation led by Prof. Wang Weijia, Director of the Research Centre for Global Governance and International Communication at the Institute of Area Studies and Dean of the Institute of International Communication at Peking University, China, conducted a series of high-level research interviews in Colombo recently.

During their visit, the delegation met with several government and state sector representatives, members of legal fraternity, members of the armed forces and experts from leading international affairs think tanks, engaging in wide-ranging discussions on Sri Lanka-China cooperation.

Trade and Investment as Key Growth Drivers

At a meeting with Hanif Yusoof, Presidential Special Envoy on Foreign Investments and Governor of the Western Province, the delegation engaged in in-depth discussions on Sri Lanka’s international trade and investment landscape. Governor Yusoof noted that international trade and foreign direct investment are critical to Sri Lanka’s future economic growth, with logistics, energy, and tourism identified as priority sectors for attracting foreign capital.

He further highlighted the longstanding involvement of Chinese enterprises in Sri Lanka’s infrastructure, energy, road, and telecommunications sectors, noting their significant contribution to the country’s economic development. Looking ahead, he stressed that Sri Lanka should leverage its strategic geographic position to build regional supply chain networks and deepen cooperation with Chinese enterprises in export-oriented manufacturing.

A Relationship “Beyond Commercial”

Speaking with Dr. Harshana Suriyapperuma, Secretary to the Treasury and Ministry of Finance, Planning and Economic Development, the delegation explored various dimensions of the Sri Lanka-China relationship. Dr. Suriyapperuma emphasized that the two countries are bound by longstanding historical, cultural and sentimental ties that extend well “beyond commercial and transactions”.

In this context, he highlighted Port City Colombo as a symbol of the enduring partnership between Sri Lanka and China, and described the project as an important platform with the potential to contribute to Sri Lanka’s long-term economic growth and international connectivity.

Exploring New Models of Cooperation

During the interview with Dr. Sulakshana Jayawardena, Acting Chairman of the Board of Investment of Sri Lanka (BOI), discussions focused on Sri Lanka’s current investment landscape and potential new models for Sri Lanka-China cooperation.

Dr. Jayawardena noted that foreign direct investment (FDI) projects such as Port City Colombo generate both direct and indirect economic benefits, including foreign capital inflows, employment opportunities for local citizens, and technology transfer. Beyond infrastructure development, he noted that high-tech manufacturing, pharmaceuticals, and textiles should serve as key areas for deeper Sri Lanka-China cooperation.

Looking ahead, he hopes to leverage academic and think-tank institutions such as Peking University to create more platforms for mutual exchange and collaboration. In particular, he highlighted the value of learning from China’s experience in special economic zone governance, manufacturing development, and workforce training, with a view to exploring new avenues for deeper bilateral cooperation.

Throughout the visit, Prof. Wang introduced Peking University’s academic strengths in area studies and international communication to the officials and experts engaged during the delegation’s meetings. He also expressed the university’s commitment to conducting further research aligned with Sri Lanka’s development priorities, while fostering scholarly and cultural exchanges that strengthen mutual understanding and serve as a bridge between the two countries.

Business

News of a road map to West Asian peace brings oil price relief

Published

4 mins ago

2026/06/23

Sahan Weerasooriya

Global oil markets saw Brent crude slip below US $ 80 dollars per barrel yesterday as stock investors responded to a road map to a final US-Iran peace agreement mediated by Qatar and Pakistan.

Amid those developments both indices moved downward. The All Share Price Index went down by 84.91 points, while the S and P SL20 declined by 15.33 points.

Turnover stood at Rs 1.2 billion with two crossings. Those crossings were reported in Ceylinco Holdings, which crossed 40000 shares to the tune of Rs 124 million; its shares traded at Rs 3100 and NDB 196,000 shares crossed for Rs 22 million; its shares sold at Rs 110.

In the retail market, companies that mainly contributed to the turnover were; NDB Rs 90 million (821,800 shares traded), Lanka Realty Investments Rs 81 million (1.4 million shares traded), Access Engineering Rs 36 million (461,000 shares traded), Commercial Bank Rs 28 million (136,000 shares traded), Overseas Realty Rs 25 million (495,000 shares traded), JKH Rs 24 million (1.2 million shares traded) and Royal Ceramics Rs 22 million (484,000 shares traded). During the day 38 million share volumes changed hands in 14650 transactions.

It is said that banking sector counters, especially NDB, led the market, while construction related companies, especially Access Engineering and Overseas Reality, performed well.

The telegraphic transfer rate for Sri Lanka’s rupee against the US dollar was Rs 329.50 buying, Rs 338.50 selling; the euro was Rs 375.1846 selling, Rs 389.1016 buying; and the pound was Rs 434.5227 buying, Rs 448.5683 selling.

By Hiran H Senewiratne