Business
Acuity Partners announce new chairman and 2 new independent directors
Thimal Perera, who presently serves as Director/CEO of DFCC Bank PLC, has been appointed Chairman of the Board of Directors of Acuity Partners (Private) Limited; a full-service investment bank that is an equally owned joint venture between DFCC Bank and Hatton National Bank. Alongside this, the Board of Acuity Partners welcomed two new Independent Non-Executive Directors, Lalith Withana and Sachith N Perera. These new appointments will help to further strengthen the Board of Acuity Partners, particularly in the areas of Audit and Risk Management.Acuity Partners offers a comprehensive suite of products and services that include Corporate Finance, Equities, Fixed Income Securities, Venture Capital Services and Asset Management.
A distinguished banker and Director/CEO of DFCC Bank PLC, Perera assumed duties as Chairman of Acuity Partners on the 1st of January 2022. Mr. Perera has over two decades of experience in the financial services and banking sector, nationally and internationally. He has also served as the Deputy General Manager of Hatton National Bank, where he guided the retail and SME banking sector. Perera has also worked with HSBC, in Sri Lanka and abroad, the Commercial Bank of Qatar and Barclays Bank PLC in the UAE.
Lalith Withana is a senior and highly respected professional who has held management positions in the corporate sector for over 25 years, including senior management positions in banking, manufacturing and trading. He has worked with many organizations including the Brandix Group, Ernst and Youth, Amsterdam Rotterdam Amro Bank, IBM World Trade Corporation, Carson Cumberbatch, Ceylon Tea Services Limited and Yamaha Corporation USA. He has served as the Group Chief Finance and Administrative Officer for Sri Lankan Airlines and Chief Executive Officer of Sri Lankan Catering.
Sachith N Perera is a respected professional in the banking industry, having served over 26 years at HSBC, 12 of which were in the capacity of Treasurer and Head of Global Markets for HSBC Sri Lanka and the Maldives. In this role, he was responsible for the bank’s forex and rates management, derivatives trading, balance sheet management and custodial services for foreign investors in local equities.
Business
Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe
By Ifham Nizam
A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.
The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.
The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.
The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.
One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.
A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.
A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.
The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.
That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.
Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.
The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.
The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.
When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.
The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.
Business
Sri Lanka Food Processors Association holds 29th Annual General Meeting
The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.
At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.
President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.
1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.
2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.
Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.
Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.
Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.
Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:
Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited
Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.
Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.
Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.
Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.
Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC
The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.
The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.
Business
Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black
New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel
Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.
The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.
-
Latest News7 days agoShowers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara Districts
-
Editorial7 days agoCrimes punished and unpunished
-
Features6 days agoBeyond traditional jobs: Why Sri Lanka needs to facilitate the gig economy
-
Editorial5 days agoBirth of a bad law
-
News3 days agoPolice remove Thileepan statue in Jaffna
-
Latest News6 days agoKusal, Wellalage star as Sri Lanka defend 322 in Headingley thriller
-
News5 days agoTIN mandatory for key transactions from Nov. 1
-
News7 days agoIMF: Sri Lanka on course for 2027 market return
