Business
Commercial Credit joins hands with Western Union
Commercial Credit and Finance PLC, one of Sri Lanka’s premier non-bank financial institutions, recently joined hands with MMBL Money Master (brand name of MMBL Money Transfer (Pvt) Ltd), a joint venture between Mercantile Merchant Bank and Aitken Spence PLC, the largest representative in Sri Lanka for Western Union money transfers.
This timely partnership will enable the public to collect remittances sent through Western Union at any Commercial Credit branch across its expansive network in 129 locations islandwide. The newly forged partnership brings Commercial Credit customers a leap closer to their loved ones residing overseas. The operations are set to officially commence on 17 February 2022.
Speaking on the partnership with the global leader in cross-border and cross-currency money movement and payments, Commercial Credit’s Director/COO Rajiv Cassie Chitty said, “Our main focus has always been to empower our customers. We have striven to meet this goal over the years, and by joining hands with MMBL Money Master, we hope they are better able to access and carry out transactions with ease. Given the current situation around the globe, we know that distance between loved ones here and those overseas has remained a weighted burden on families. We do what we can to ensure that our customer’s burdens are lessened in this aspect at least.”
Director, Aitken Spence Group Ltd and Managing Director of MMBL Money Transfer (Pvt) Ltd Dinesh Mendis said: “We are pleased to add Commercial Credit Finance PLC to our portfolio of partners which will no doubt be of immense benefit to beneficiaries of remittances received via Western Union across the Country. We see this as yet another milestone in our two and a half decade plus journey in facilitating our mission of improving access to receive remittances and giving the consumer the widest choice of easily accessible “right next door” locations’’.
Commercial Credit and Finance PLC was established in 1982, and offers a wide range of services, including loans, leasing and hire purchases, fixed deposits, micro-financing, and revolving business loans. The Company merged with Trade Finance and Investments PLC, in line with the financial sector consolidation program initiated by the Central Bank of Sri Lanka, boosting its network in the country.
Focused on enabling growth, Commercial Credit has supported countless entrepreneurial ventures and has helped uplift marginalised individuals and communities across Sri Lanka while providing innovative and groundbreaking solutions catered to the unique requirements of its customers.
Business
Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Business
Hettich celebrates a decade in Sri Lanka with partner meet in Colombo
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
Business
GS Evo Motors launches all-new JMEV EWIND
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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