Business

Sampath Bank signs MOU with AIMGSL, the body representing internationally-qualified professional marketers

Published

4 years ago

2022/07/12

Tharaka Ranwala - Senior Deputy General Manager/Group Marketing, Deposit Mobilization and Digitalization, Sampath Bank PLC with Sujith Silva - Chairman, AIMG following the signing of the MoU, also in the picture (l-r) Lasitha Suraweera - Manager Marketing, Sampath Bank PLC, Pujitha Rajapaksa - Chief Manager Marketing, Sampath Bank PLC, Roshan Kaluarachchi - Treasurer, AIMG and Sanjay Hettiarachchi - Head of Operations, AIMG

Sampath Bank signed a mutually beneficial memorandum of understanding (MOU) agreeing to act as a corporate sponsor for the Association of International Marketing Graduates in Sri Lanka (AIMGSL).

The organization for professional marketers with globally-recognized marketing credentials, AIMGSL offers mentoring, counseling, hands-on training, workshops and networking opportunities to its members. Under the terms of this corporate sponsorship agreement–valid for a year, and renewable–Sampath Bank PLC will be entitled to a host of benefits at future functions including events and programmes scheduled for the next twelve months in the AIMGSL’s event calendar. In addition to this, the Bank will collaborate and propose ideas towards some of the industry specific initiatives and events organised by AIMG. Ensuring that a level of expertise, insight, and resources are emphasized for the benefit of industries and marketing professionals.

The organization has a tentatively scheduled 12-month event calendar that include a host of events, varying from CEO forums, retail events, networking events, panel discussions, viewpoints, seminars along with their annual conference.

“This agreement will benefit our entire membership,” enthused Sujith Silva, Chairman of the Association of International Marketing Graduates in Sri Lanka, who signed the agreement on behalf of the AIMGSL. “A keen awareness of financial matters is of paramount importance to marketing professionals, so associating with bankers and having senior bank officers on hand to provide clarifications and answers to questions at forums, will be enormously helpful moving forward, especially given the slippery slope the economy is currently on. We are determined to acknowledge and support the Banking and Financial industry in Sri Lanka, with the guidance of these professional marketers. In line of this, our goal is to inaugurate specific programmes and initiatives, which would be much informative. Continuing this long-lasting relationship between the Bank and the Sri Lankan Marketing fraternity, has been nothing but memorable to us all. Our members stand to learn a great deal from their banking counterparts, primarily from a well-established Bank such as Sampath Bank. In return, I hope to provide insights and knowledge which would be beneficial for them.”

“This is a landmark agreement for both parties,” agreed Senior DGM /Group Marketing, Deposit Mobilization and Digitalization, Tharaka Ranwala, who signed the agreement on behalf of Sampath Bank PLC. “AIMGSL’s marketing professionals are qualified and poised to launch consumer and business-to-business campaigns that can jump-start the economy and get the country moving again. We’re excited to participate in the association’s annual events–we know how to help. Because strong banking partnerships, keeping an eye on bottom line issues at all times, and sound financial planning are the bedrock of successful marketing campaigns.”

Despite the contemporary obstacles faced by the banking sector in Sri Lanka, Sampath Bank has successfully maintained all its capital ratios well above regulatory requirements throughout Q1 2022. All the while, Sampath Bank has implemented all government-led moratorium schemes for eligible customer segments affected by the pandemic. The Bank’s digitalization strategy has also continued to prove its worth during these trying times by securing a more accessible and safer banking experience for customers.

Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours, slip-less banking and adaptation of block-chain technology to name a few. As part of its visionary 2022 approach, the bank is steadily transforming itself into a ‘tech company engaged in banking,’ from the traditional approach of a bank adopting technology.

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Business

Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe

Published

14 hours ago

2026/09/30

Sahan Weerasooriya

The Lakvijaya power plant in Norochcholai.

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

Published

14 hours ago

2026/09/30

Sahan Weerasooriya

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

Published

14 hours ago

2026/09/30

Sahan Weerasooriya

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.