Business
Mahindra IDEAL Finance now in Galle
Mahindra IDEAL Finance, one of Sri Lanka’s premier licensed finance companies, focused on rural and semi-urban consumers, recently added a new branch to its expanding island wide network. Located in Galle, a major commercial centre in the South for the rural and semi-urban population, this new branch serves to expand the growing presence of Mahindra IDEAL Finance across the country, while also providing increased convenience and access for customers. Marking the 19th branch to be added to Mahindra IDEAL Finance’s Network, the new Galle branch was declared open amidst a special opening ceremony held to mark the event. Selected customers, along with various dignitaries and senior members of Mahindra IDEAL Finance’s Corporate Management Team were present at the ceremony. The new Galle branch is located at No. 18, Mosque Road, Main Street, Galle.
Commenting on the occasion, Pradeep De Silva – Assistant General Manager – Gold Loans at Mahindra IDEAL Finance said, “Our focus is providing ideal financial solutions to our customers, particularly in the rural and semi-urban markets. Our network expansion strategy has identified key commercial centres around the country, where it will make it easy for our customers to access our services. Galle is one such centre of commerce, where our market research shows that customers are looking for ideal financial solutions to achieve their aspirations. Thus, we are very pleased to now be serving these regions, and we look forward to the further network expansion initiatives that we have planned in the near future. Meanwhile, we invite our customers and the public, to visit our new Galle branch and see for themselves, all of the opportunities available through Mahindra IDEAL Finance.”
Mahindra IDEAL Finance is also an ideal choice for those looking to build or expand their careers in the financial services sector. Being home to a diverse team of industry professionals and a reputed corporate culture, Mahindra IDEAL Finance has been recognized for 3 consecutive years as a Great Place to Work by Great Places to Work; in 2019, 2020 and 2021. Mahindra IDEAL Finance is also among the top 10 best workplaces in the banking, financial services and insurance industries in 2021, as recognised by Great Place to work.
Mahindra IDEAL Finance Limited, a subsidiary of Mahindra and Mahindra Financial Services Limited, is a non-bank financial institution (NBFI) and licensed finance company (LFC) registered with Central Bank of Sri Lanka, and commenced operations in March 2012 with a clear focus on the rural and semi-urban sectors. Its lending portfolio consists of gold loans, personal loans and leasing facilities for motorcars, three-wheelers, agriculture vehicles and commercial vehicles, while also providing depositors with attractive returns on their investments. Since its affiliation with Mahindra, through an acquisition of a controlling-stake in the Company by Mahindra Finance, Mahindra IDEAL Finance Limited, has been rated AA-(lka) by Fitch Ratings Lanka.
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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