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Aitken Spence records Rs. 2.9 Bn EBITDA across all sectors for 2Q with a 388% growth

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The leading blue-chip conglomerate, Aitken Spence PLC reported an impressive growth of 388% from its earnings before interest expense, tax, depreciation and amortisation (EBITDA) of Rs. 2.9 Bn compared to Rs. 595 Mn in the 2Q of the previous year.

During the 2Q the Group’s non-tourism sectors recorded a growth of 35% from its EBITDA of Rs. 2 Bn against Rs. 1.5 Bn during the 2Q of the previous year. The Group’s tourism sector reached a significant triple digit growth of 188% from its EBITDA of Rs. 824 Mn as against a loss of Rs. 940 Mn during the 2Q of the previous year.

The Group’s maritime & freight logistics sector contributed the highest profitability with improved performances from the Cargo GSA, freight forwarding and overseas port management operations. The sector recorded a 57% increase in profit-before-tax (PBT) for the six months ended 30th September 2021.

The Group’s strategic investments sector recorded a compelling performance driven by a triple digit growth of 107% in PBT for the six months ended 30th September 2021. The newly commenced waste-to-energy power plant and the recently acquired Waltrim mini-hydro power plants enhanced the profitability of the sector alongside the plantations segment that provided a substantial boost to the Group’s strategic investments sector. The plantations segment commenced commercial production of strawberries with three other varieties of berries to be launched under the brand “Berry Much”. Another first in Sri Lanka to cultivate and market the full range of berries.

The Group’s services sector recorded an 83% growth in PBT led by the money transfer and elevator agency operations for the six months ended 30th September 2021.

The Group’s tourism sector showed a significant improvement as they recorded a decrease in losses of 54% for the six months ended 30th September 2021, amidst the pandemic related travel restrictions. The hotels segment in the Maldives witnessed higher occupancy volumes and is on an encouraging trajectory.

The hotels segment continued their efforts to heighten health & safety combined with unique and curated experiences for guests. More than 95% of Aitken Spence Hotels associates have been successfully vaccinated. In line with creating unique experiences for guests, during the quarter, Heritance Aarah in the Maldives launched a village experience to celebrate the illustrious culture and heritage of the island. This is the first of its kind in the Maldives. The destination management segment focused more on outbound tourism to capitalise on the seasonal and international sporting events. Aitken Spence Travels was appointed an official travel agent for the ICC Men’s T20 World Cup 2021 in Oman and UAE. Another achievement for the segment was vaccinating 100% of the Group’s travels segment frontline staff to ensure both personal and organisational safety.

Aitken Spence has been reinventing its businesses with their priorities focused on re-strategising its operations and business models while strengthening resilience. With this objective, the Group embarked on a business and process transformation drive across all business segments in early 2020, prior to the downturn effects from the pandemic. The results have been reassuring as it has increased productivity whilst eliminating redundant and protracted business processes, enabling greater motivation for employees with relevant upskilling where necessary.

The Group recorded a growth of 156% in Profit-Before-Tax (PBT) of Rs. 734 Mn during the 2Q of 2021 compared to a loss of Rs. 1.3 Bn in the 2Q of the previous year. This is an outstanding performance considering the downturn in the tourism business. The non-tourism sectors reported a PBT of Rs. 1.4 Bn for the 2Q and Rs. 2.7 Bn for the six months ended 30th September 2021.

“Aitken Spence performance has been improving each quarter despite the pandemic. The driving factors are the Group’s integrated strategies led by the top management and our hardworking and committed teams that have executed them well by demonstrating purposeful leadership. Moreover, the diversification of our businesses and our international presence in eight countries, have been key contributing factors to achieve a compelling performance during the 2Q amidst many setbacks particularly impacting the tourism sector. This is encouraging as it shows strong resilience, and we will continue to keep rising above this turbulent environment,” said Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence PLC.

Listed in the Colombo Stock Exchange since 1983, Aitken Spence is anchored to a heritage of excellence spanning over 150 years and driven by more than 12,000 employees across 16 industries in 8 countries: Sri Lanka, Maldives, Fiji, India, Oman, Myanmar, Mozambique and Bangladesh.

 



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Malaysia courts more Sri Lankan travelers as ‘Visit Malaysia 2026’ gathers steam

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Malaysian H.C. Badli Hisham Adam: ‘Fresh biz opportunities

Malaysia is intensifying efforts to attract more Sri Lankan travelers by promoting its diverse tourism offerings, strong air connectivity, Muslim-friendly facilities and expanding business partnerships ahead of the ‘Visit Malaysia 2026’ (VMY2026) campaign.

Addressing the Tourism Malaysia product presentation yesterday in Colombo, Malaysian High Commissioner to Sri Lanka Badli Hisham Adam said tourism remains one of the strongest pillars of the long-standing bilateral relationship between Malaysia and Sri Lanka, helping strengthen cultural understanding, business links and people-to-people ties.

The event, organised by Tourism Malaysia Chennai in collaboration with the High Commission of Malaysia in Colombo, brought together Malaysian tourism stakeholders, airline representatives, Sri Lankan travel industry professionals and members of the media to explore new business opportunities.

The High Commissioner said Sri Lanka continues to be an important source market for Malaysia, with growing numbers of Sri Lankan travelers seeking destinations that combine diversity, affordability, quality experiences and convenient connectivity.

“As part of ‘Visit Malaysia 2026’, we warmly invite Sri Lankan travelers to discover the richness of Malaysia, he said.

Highlighting Malaysia’s tourism strengths, the envoy said the country offers a wide range of attractions, including multicultural cities, UNESCO World Heritage Sites, pristine beaches, tropical rainforests, cool highlands and unique wildlife.

These are complemented by world-class shopping, family-friendly attractions, educational opportunities, wellness and medical tourism, business events and internationally renowned hospitality.

He also stressed Malaysia’s position as the world’s leading Muslim-friendly destination, supported by an extensive halal ecosystem with internationally recognised certification, halal-certified restaurants, easily accessible prayer facilities and family-oriented amenities across the country.

Despite ongoing geopolitical uncertainties around the world, the High Commissioner said Malaysia remains a stable, peaceful and welcoming destination for international travelers.

He urged Sri Lankan travel agents to strengthen collaboration with Malaysian tourism providers by developing innovative travel packages targeting leisure travelers, business visitors and event participants.

The presentation featured leading Malaysian tourism partners, including Wyndham Ion Majestic, Lotus Desaru, Key Term Holidays representing the Sabah Tourism Board and Asian Overland representing The PULSE Group, showcasing Malaysia’s diverse tourism experiences and investment in the Sri Lankan market.

The envoy also acknowledged the contribution of airline partners and the media in enhancing Malaysia’s visibility and improving travel connectivity between the two countries.

Looking ahead to ‘Visit Malaysia 2026’, he said the future growth of tourism would depend on stronger collaboration, innovation and meaningful partnerships between industry stakeholders.

He expressed confidence that closer cooperation between Malaysia and Sri Lanka would generate fresh business opportunities while encouraging more Sri Lankan visitors to experience Malaysia’s culture, diversity and hospitality.

The High Commissioner concluded by expressing hope that the networking session would lead to stronger commercial partnerships and contribute to the success of ‘Visit Malaysia 2026’, further deepening tourism and economic ties between the two friendly nations.

By Ifham Nizam

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Women Empowered Global launches ‘Leadership Lab’

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Senela Jayasuriya, Founder and CEO of Women Empowered Global.

Women Empowered Global (WEG), a network of award‑winning female leaders, corporate CXOs and entrepreneurs, experts and thought leaders dedicated to empowering women from six continents, unveiled the ‘WEG Leadership Lab’, a 24‑week virtual intensive programme, commencing 26 September. The programme is designed exclusively for women leaders who are ready to accelerate their careers, amplify leadership visibility, and drive transformational growth.

The women‑only leadership experience breaks the mould of conventional training, offering a powerful blend of masterclasses, mentorship, and practical leadership tools tailored for rising leaders, managers, and senior professionals. Participants will gain international exposure, sharpen essential skills, and the opportunity to join a vibrant knowledge‑sharing community which fosters confidence, resilience, and impact.

“The WEG Leadership Lab is not for casual growth. It is for women who are serious about transforming their leadership journey,” said Senela Jayasuriya, Founder/CEO, Women Empowered Global. “By combining global expertise with local delivery, we are creating pathways for women across manufacturing, trading, finance, marketing, technology, and management, as entrepreneurs, business owners, fractional executives, or corporate leaders, to thrive and build a more inclusive leadership landscape.”

WEG’s platform facilitates international exposure and career development for professionals and connects more than 4,000 members worldwide. The Leadership Lab builds on WEG’s flagship initiatives, including the 1 Million Women in Power campaign, the African Women Leadership Forum, the Business Hub, and the Global Online Academy. The programme aims to deliver a transformative journey equipping women to step boldly into leadership roles locally and internationally.

Led by Senela Jayasuriya (MBA, UK), an internationally recognized and awarded leadership & empowerment coach and innovation partner, keynote speaker, and certified expert, WEG collaborates with DEI specialists, corporate boards, Business and HR leaders, to design programmes which advance women’s careers, leadership visibility, equity, and inclusion. To date, she has successfully delivered leadership development programmes to more than 20,000 professionals.

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JKCG Auto and Green EV join forces to build Sri Lanka’s most expansive EV charging network

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John Keells CG Auto (JKCG Auto), the authorised distributor of BYD and Denza in Sri Lanka, has launched a strategic partnership with Green EV on 26th June 2026 to significantly expand the charging infrastructure available to its customers across the island. The collaboration, formalised through a Memorandum of Understanding (MOU), marks a pivotal step in JKCG Auto’s ongoing commitment to building a comprehensive and reliable New Energy Vehicle (NEV) ecosystem in Sri Lanka.

Through this partnership, BYD and Denza owners will gain seamless access to Green EV’s public charging network of 100+ DC fast chargers and 70 AC chargers, spanning 20 districts and all nine provinces of Sri Lanka, from Jaffna in the north to Hambantota in the south, and from Puttalam on the northwest coast to Trincomalee and Ampara on the eastern seaboard, encompassing a mix of 40kW, 60kW, and 120kW fast-charging infrastructure. The network has been designed to ensure that customers can charge conveniently and confidently, whether in the heart of Colombo or in suburban and outstation communities, removing one of the most commonly cited barriers to EV adoption in Sri Lanka. Further strengthening customer confidence, Green EV has partnered with SLIC to provide a comprehensive insurance cover of LKR 100 million for every Green EV charging station, offering protection against potential damages and ensuring complete peace of mind for every user.

The initiative reflects JKCG Auto’s broader strategy to invest in the foundations of sustainable mobility, ensuring that the transition to electric vehicles is supported not only by world-class vehicles, but by a dependable ecosystem that addresses the practical needs of everyday ownership.

“If the future of mobility in Sri Lanka is going to be electric, success will hinge on how accessible we are able to make the actual vehicles, as well as the enabling infrastructure around them. JKCG Auto is proud to partner with other visionaries like Green EV to ensure that we eliminate range anxiety, so that every customer – whether in Colombo or anywhere in Sri Lanka will have the confidence to go electric,” JKCG Auto Chief Executive Officer, Charith Panditharatne.

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