Business
First Capital books billion rupee profit after tax in record breaking year
Results, helped by monetary policy easing, achieved against negative headwinds
First Capital Holdings PLC (FCH), a Janashakthi company, reported its best ever performance in the year ended Mar. 31, 2020 with its profit after tax topping the billion rupee mark, up from Rs. 8 million the previous year.
The company’s chairman, Mr. Nishan Fernando, said in a statement in the company’s recently published annual report that the record breaking performance was without doubt the best year to date, with the group’s impressive performance achieved against some obviously negative headwinds that saw the country posting what he called “sub-par economic growth” for the third consecutive year.
“Our ability to deliver consistent results even in tough times, is a testament to the group’s robust operating model,” Fernando said. “I am also convinced that the ongoing emphasis placed on strengthening each of our core businesses and firming up their positions within their immediate operating domain, has been a critical success factor for the group.
FCH is a full service investment bank providing a diverse range of advisory services and financial products. Its specialties include Capital Market Advisory, Wealth Management, Fixed Income and Equities serving an array of companies, institutions, government agencies, high net worth individuals and retail clients.
The superior performance enabled the company to pay its shareholders a total dividend of nine rupees per share for the year under review comprising a first interim of four rupees per share in Aug. 1919 and a second interim of five rupees per share in in June 2020 with a total dividend payout of Rs. 911.2 million.
Fernando said the outstanding performance was supported by a demonstrable improvement across all key metrics with revenue up to Rs. 5.22 billion from Rs. 4.17 billion a year earlier.
Operational highlights included channeling Rs. 336 billion worth of government securities to the public; assets under management reaching Rs. 26.4 billion; Rs. 42 billion raised through corporate debt structuring and placement; and Rs. 7.2 billion raised for listed debt IPOs.
He said he was particularly pleased with the performance of their primary dealer operation – First Capital Treasuries PLC, as a result of the Central Bank’s monetary policy easing in the latter part of 2019.
Focusing mainly on the unlisted debt market, their Corporate Advisory Unit leveraged on the opportunity to re-enter the listed debenture space after three years raising approx Rs. 7.25 billion by way of listed debentures.
Their wealth management unit had also made remarkable progress to deliver the best financial results to date. The wealth management clientele had shown a degree of maturity during the year for which he credited their efforts to raise market awareness.
He expected the Covid-19 pandemic will continue to dictate the country’s medium term economic outlook. Based on the assumption that at the very least, the existing monetary policy easing measures will remain in effect, he expected their group “to benefit from a highly conducive environment.”
The company’s Director/CEO Dilshan Fernando said that a continuation of the current monetary policy slant at least for the forthcoming financial year will benefit their group with the low interest rates offering strong growth potential. He also saw the opportunity to expand their corporate advisory services as businesses restructure in the post-Covid era.
“Also, as the equity market bottoms out, there is likely to be renewed interest in investing, especially from foreign investors over the coming months,” he said. “This will no doubt boost the prospects of our stock broking arm.”
The Janashakthi Groups owns over 75% of First Captal.
The company’s directors are Messrs. Nishan Fernando (Chairman – Independent non-executive) Dinesh Schaffter (MD) Dilshan Wirasekera (Director/CEO) Prakash Schaffter and Ramesh Schaffter (Non-independent, non-executive), Eardley Perera, Minette Perera, Chandana de Silva and Nishan de Mel (Independent non-executive directors).
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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