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Asia Asset Finance posts outstanding performance in FY2022/23

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Asia Asset Finance PLC, Sri Lanka’s premier gold-focused financial solutions provider with a remarkable 52-year history, has concluded FY2022/23 having delivered outstanding performances across a range of financial KPIs, measured year-over-year (YOY), amidst Sri Lanka’s unprecedented economic crisis. Despite numerous challenges, the company has demonstrated exceptional resilience and delivered outstanding value to its stakeholders.

Total Assets Reached LKR 25 billion (YOY Growth 29%)

Total Profitability increased to LKR 284 million (YOY Growth 139%)

Total Number of Branches Reached 75 (YOY growth 27%)

Total Fixed Deposit Base increased to LKR 13.2 billion (YOY Growth 52%)

Total Number of Customers increased by 10,502

Capital Adequacy Ratio 26.25%

One of the key highlights of Asia Asset Finance PLC’s performance is the impressive growth in Earnings Per Share (EPS), which soared by an incredible 150%. This significant increase reflects the company’s ability to generate substantial returns for its shareholders. Furthermore, the company’s Asset Base has surpassed an impressive milestone of LKR 25 billion, showcasing its robust financial position and steady growth trajectory.

Asia Asset Finance PLC’s Net Profit also witnessed a remarkable growth, increasing by 139% during FY 2022/23. This notable achievement speaks volumes about the company’s effective strategies and positioning in the market. An essential factor contributing to Asia Asset Finance PLC’s success is its expanding Deposit Base, which grew by 50% during the year. This growth not only demonstrates the trust and confidence customers place in Asia Asset Finance PLC, but also reflects the company’s ability to attract and retain a loyal customer base.

Asia Asset Finance PLC also made notable strides regarding expanding its presence. The company’s dedication to serving customers across Sri Lanka was clearly evident as its branch network grew to reach an impressive 75 locations across the Island. This expansion reflects Asia Asset Finance PLC’s commitment to providing accessible financial solutions to all Sri Lankans.

CEO, Rajiv Gunawardena expressed his positive sentiments saying, “This year, we have been able to achieve significant growth and performance that has exceeded investor and market expectations due to our concentrated focus on secured lending focusing on gold-based financial services and effective cost control mechanisms adopted through a digitized operational environment. Gold continues to remain one of the most in demand assets in the market, and thus we have been able to deliver exceptional value to our customers and investors. Our branch expansion in the rural and semi urban areas have allowed to meet our objectives in expanding our reach to much needed communities and transforming AAF service to a more female focused service model. Meeting the objectives of women empowerment and financial inclusion.”

As Asia Asset Finance concludes another successful financial year, Asia Asset Finance PLC reaffirms its dedication to providing innovative financial solutions, expanding its reach, and delivering exceptional value to its customers and stakeholders. The company’s remarkable performance and unwavering focus on customer-centric strategies position it as a leading force in Sri Lanka’s financial landscape, poised for continued growth and success.

Asia Asset Finance PLC is a Non-Banking Financial Institution (NBFI) and a Licensed Finance Company (LFC), registered with the Central Bank of Sri Lanka, having commenced operations in 1970, with a focus on Gold-Based Financial Products and Services, catering to both depositors and borrowers. Asia Asset Finance PLC’s wide array of financial services includes Gold Loans, Fixed Deposits, Leasing, Mortgages and Digital Financial Services via the Asia Asset Finance App (LUCKEWALLET). Asia Asset Finance PLC is majority-owned by India-based Muthoot Finance, a global financial services giant, with over LKR 2.54 trillion worth of assets, with operations reaching across the globe.



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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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