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 CMA rings the bell with CSE, to recognize and promote integrated reporting

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The Institute of Certified Management Accountants of Sri Lanka (CMA), in collaboration with the Colombo Stock Exchange (CSE), rang the market opening bell to commemorate the CMA Sri Lanka Excellence in Integrated Reporting Awards, with the objective of recognizing and promoting integrated reporting among the publicly quoted companies.

The ceremony was attended by the CMA President, Professor Lakshman R. Watawala, Professor Ho Yew Kee from the Singapore Institute of Technology as the Keynote Speaker, CMA Vice President, Hennayake Bandara, Deshapriya Senanayake, Partner Tudor V. Perera & Co., Ms. Dharshini Watawala, Associate Director at PWC Sri Lanka, and senior management from CMA Sri Lanka.

The CSE was represented by the CSE Chairman, Dilshan Wirasekera, CEO, Rajeeva Banadaranaike, and senior management.

Welcoming the invitees to the ceremony, CSE Chairman, Dilshan Wirasekera, congratulated CMA for all the hard work put in over the last 23 years. “For us at CSE, we are proud of partnering with CMA, because we are a disclosure-based market and we believe in promoting the principles of integrated reporting is not just for companies itself or the shareholder, but I think its more for the general public and for all investors who trade to make the information more transparent. We look forward to this partnership, and we hope the bond between our two institutes will get stronger.”

Presenting his views on the CMA Excellence in Integrated Reporting Awards, CMA President Professor Lakshman R. Watawala stated, “In addition to being a sponsor of the CMA Excellence in Integrated Reporting Awards, CSE has been a supporting partner for a long time. We have been having experts from South Africa, Singapore, Australia, and many others, including our own experts, who have been supporting us, and we have been able to get independent opinions on the awards given. I would like to mention Professor Ho Yew Kee, who has been the Chairman of the CMA Excellence in Integrated Reporting judging panel for the last seven years, from its inception.”

“The main thing is that we are able to measure the value creation of companies. All stakeholders are looking for value creation, and in value creation, there are some important elements that we take into account, which are called the six capitals. In addition to the financial capital there is the manufactured, intellectual, human, social and relationship and natural/environmental capitals.”

The keynote speaker of the event, Professor Ho Yew Kee from the Singapore Institute of Technology, shared his views on the importance of integrated reporting. “CMA Sri Lanka was able to capitalize on the importance and adopt a very proactive step in adopting the integrated reporting framework because it believes that the integrated reporting at the end of the day provides a good framework to allow a company to signal the value creation. This is particularly consistent with what the CSE is all about: creating wealth and value. The integrated framework allows companies not only to be able to perform or show the financial statements, but to articulate the reasons, the contributions, the factors, the risks, and the opportunities in the value creation process.”



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From Mt. Fuji to Sri Pada: Lessons from a father-son climb

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by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

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FLIR, Marlbo promote smarter industrial maintenance

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Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

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Lumbini Tea Valley wins intl award for Singharaja Wirytips

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Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

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