CBL Group, one of Sri Lanka’s largest diversified food manufacturing conglomerates, yesterday (21) announced the strategic acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large coconut processing facility, with an investment of over USD 25 million. TJT has a workforce of over 800 employees.

The investment was supported by the International Finance Corporation (IFC), a member of the World Bank Group, the group said in a press release.

The acquisition forms part of CBL Group’s broader global expansion strategy, aimed at strengthening its presence in the fast-growing value-added coconut and coconut-based products segment, while building scale and resilience. Indonesia is the world’s largest coconut-producing country.

The statement quoted Shea Wickramasingha, Group Managing Director of CBL Group as having said: “This acquisition is a strategic step in increasing capacity and enabling geographic risk mitigation, with the objective of strengthening our market share in the global coconut milk category. The Indonesian factory will also enable us to further leverage Indonesia’s trade agreements with several export markets.”

Global demand for coconut-based products continues to rise, driven by growing consumer preference for plant-based, natural, and functional ingredients. The global coconut products market is projected to reach nearly USD 12 billion by 2030, presenting significant opportunities for value-added exporters. In Sri Lanka, coconut and coconut-based exports surpassed the USD 1 billion mark in 2025, highlighting the sector’s growing importance to the national economy.

Randeewa Malalasooriya, Director / Chief Executive Officer – CBL Natural Cluster, and President Director – PT Tri Jaya Tangguh Indonesia, added: “While we are doubling our capacity in Sri Lanka, Indonesia is a critical hub in the global coconut industry. Bringing TJT into the CBL Group allows us to significantly scale our processing and manufacturing capabilities, strengthen supply-chain resilience, and better serve international customers. With this investment, we are targeting a substantial increase in production capacity, alongside the expansion of exports to key international markets, including Europe and the United States. Importantly, we remain committed to prioritising the local workforce, with plans to progressively add employment opportunities over the coming years as the business grows.”

The acquisition is expected to enhance CBL Group’s end-to-end coconut value chain, supporting product innovation, expanded export capacity, and improved access to key international markets.

David Pieris E-Mobility (Private) Limited, the electric vehicle arm of the David Pieris Group of Companies, proudly announces the launch of the Chetak, marking the return of one of Sri Lanka’s most iconic scooter brands—now reimagined for the electric era.

First introduced in 1978, the Bajaj Chetak quickly became a household name, earning the trust of generations of riders across the country. Even during periods dominated by Japanese motorcycles, Chetak maintained strong demand, underlining its unmatched reliability and emotional connection with Sri Lankan consumers. With a legacy spanning 47 years, Chetak now returns, carrying forward the same trust and durability—enhanced by advanced electric mobility technology.

Designed for modern urban commuting, the Chetak Electric Scooter is powered by a 3.1 kW hub motor paired with a 3.5 kWh lithium-ion battery, delivering an impressive IDC range of up to 151 km per charge. The scooter offers a top speed of 63 km/h, striking a fine balance between performance, efficiency and everyday practicality.

Built on a robust steel unibody construction, the Chetak stands apart in its segment by offering superior ride quality and long-term durability. It also features the largest under-seat storage capacity in its class at 35 litres, making it an ideal choice for daily commuting and urban lifestyles.

Positioned strongly against key competitors, the Chetak delivers a superior riding range and a higher power rating than several alternatives in the market. The scooter is equipped with a suite of premium features, including a full digital display, Bluetooth-enabled app connectivity, Eco and Sports riding modes, Hill Hold Assist with reverse and music and call notifications, ensuring a truly connected and comfortable riding experience.

Before the launch, the company established dedicated facilities — including testing equipment, diagnostic scanners, trained technicians and spare parts —across nearly 2,000 DPMC islandwide touchpoints, covering sales, service and spare parts, ensuring unmatched accessibility and customer support.

David Pieris E-Mobility has already tested the Chetak across all terrains in Sri Lanka for over 20,000 kilometres, successfully validating its quality, durability and performance ahead of the launch.

Customer confidence is further strengthened by the David Pieris Group’s extensive nationwide after-sales and service network, reinforcing the Group’s long-standing commitment to reliability and customer care. The Chetak is supported by Sri Lanka’s first 24/7 roadside assistance for 2w, providing unmatched peace of mind for electric vehicle users.

Customers can contact the David Pieris E-Mobility hotline on 011 470 0550, while 24/7 roadside assistance is available via 011 4 700 551.

The Chetak flagship showroom is located at No. 47, Pannipitiya Road, Battaramulla.

With the launch of the Chetak, David Pieris E-Mobility (Private) Limited takes another significant step towards accelerating Sri Lanka’s transition to sustainable and premium electric mobility—bringing back a beloved icon, now powered for the future.

Speaker (Dr.) Jagath Wickramaratne informed Parliament yesterday that he had endorsed the certificate on the Colombo Port City Economic Commission (Amendment) Bill, on 20.01.2026.

The Bill, presented to Parliament on 05.12.2025, was taken up for debate and passed on 07.01.2026.

The Colombo Port City Economic Commission (Amendment) Bill has been brought with the objective of amending the principal enactment, the Colombo Port City Economic Commission Act, No. 11 of 2021, with a view to strengthening regulatory oversight with respect to offshore banking activities and tax compliance, and further amending and clarifying the criteria relating to Businesses of Strategic Importance (BSI).

Through this Amendment Act, a more stringent supervision mechanism is introduced for financial activities within the Zone, particularly by granting the Central Bank of Sri Lanka the authority to regulate and supervise offshore banking activities in conformity with international standards. Furthermore, the Act aligns the economic framework of the Port City with global banking requirements and national financial stability objectives.

Accordingly, the Colombo Port City Economic Commission (Amendment) Bill comes into operation as the Colombo Port City Economic Commission (Amendment) Act, No. 01 of 2026.