Business
Nilmini Kumari Fernando succeeds father at Neil Marine & Penthouse
Neil Marine and the Penthouse Group, Sri Lanka’s leading manufacturer and service provider for fibreglass boats and other marine services, and one of Sri Lanka’s diversified conglomerates, has announced that Ms. Nilmini Kumari Fernando has taken control, management and ownership of the Company. Ms. Fernando succeeds her father, the late Mr. Neil Fernando, Founder Chairman and Owner of Neil Marine and the Penthouse Group of companies, a company news release said.
“Ms. Fernando holds a BSc. in Business Administration from the University of San Francisco, USA, along with an LLB (QLD) Hons. from the University of London, UK and an LLM Hons. in International Business and Commercial Law from the University of West London, UK. While employed, she successfully passed the QMS Lead Auditor examination in Mumbai, conducted by Lloyd’s Registrar, UK, and oversaw the entire Group’s ISO /Quality Management System,” it added.
“She has also gained many years of business and industry experience, under the guidance and mentorship of the late Mr. Neil Fernando, making her suitably qualified and experienced to fulfil and discharge the responsibilities and duties of her new role as Chairperson of Neil Marine and the Penthouse Group.”
Commenting on the change in leadership, Ms. Fernando said, “Under the mentorship of my late father, I have gained a holistic understanding of our business operation and established rewarding relationships with our valuable customers in Sri Lanka and abroad. Through my academic pursuits, I have gained a wealth of experience and seen and understood the world at large, particularly in the sphere of international business and the laws and treaties governing it.
“Therefore, relying on the experience I have gained, and the guidance provided to me by my late father, I intend to guide the business into a new era, where we can leverage our strengths and our global relationships to grow stronger, and work with our valued customers, to win together. I take this opportunity to reassure our new and existing customers that, while Mr. Neil Fernando may no longer be with us, his spirit and vision remains stronger than ever at Neil Marine and the Penthouse Group.”
Established in 1969, as a pioneer in the fiberglass boat manufacturing industry in Asia for over 52 years, Neil Marine is one of South Asia’s Largest Fiberglass Boat Builders. To date, the Company has built and supplied over 40,000 vessels and exported more than 2,000 vessels to markets in the UK, Europe, Africa, Asia and the Middle East.
Neil Marine’s portfolio of vessels include fishing boats, commercial & work boats, passenger ferries, patrol & surveillance crafts, luxury motor yachts & cruisers and luxury motor sailors and catamarans, with lengths ranging from 6m to 35m. Neil Marine is an ISO 9001:2008 certified, Sri Lanka BOI approved company. The Company is also approved by the Lloyds Register of Shipping, Det Norske Veritas, American Bureau of Shipping and the Indian Register of Shipping, and is accredited by the IACS (international association of classification societies).
Through its various subsidiaries, collectively referred to as the Penthouse Group, the business is also a diversified conglomerate with interests in associated marine services, including being the sole distributor for both Suzuki Outboard Motors and Doosan Inboard Marine Diesel Engines in Sri Lanka, while also acting as the sole distributor for world renowned Shell lubricants in Sri Lanka. The Group is also involved in the businesses of polyurethane foam products, sewing machines, apparel industry support services and others.
Business
Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook
Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.
The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.
The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.
The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.
Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.
Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.
The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.
Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.
Business
Tata Group leads humanitarian education support initiative with DIMO and ChildFund
The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.
Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.
As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.
This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.
This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.
Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”
Business
NovaNest Properties launches Rainbow Apartments in Ratmalana
NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.
The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.
The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.
Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.
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