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CMA presents annual report to State Minister

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Chairman CMA Sarana Karunarathna presenting copies of Annual Reports 2020 to State Minister Dr. Nalaka Godahewa and Secretary to the Ministry Sirinimal Perera. General Manager CMA Dr. Indunil Liyanage also participated at this occasion.

Chairman of Condominium Management Authority (CMA) Sarana Karunaratne, Attorney-at-Law presented its first copy of the Annual Report 2020 to State Minister of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness Dr. Nalaka Godahewa and the Secretary to the Ministry Sirinimal Perera recently. The General Manager of CMA Dr. Indunil Liyanage also participated for this occasion.

Condominium Management Authority (CMA) was established under the Act of Parliament No.39 of 2003 to regulate and monitor Government and private sector condominiums in the country. Since 2003 CMA established 1,126 management corporations to monitor and regulate individual condominiums in the country which amounts to approximately 38,573 apartment units. CMA consists of various divisions to support this endavour namely, engineering, customer care, certificate issuance, administration and human resources, legal, finance, information technology and internal audit. Condominium Management Authority is a self-funded (profitable) institute functioning under the State Ministry of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness.

According to “Vistas of Prosperity and Splendour” policy statement of His Excellency the President, Government has a pledge to provide a house to each family in the country and in line with that CMA has planned several activities to regulate and monitor common amenities and common elements in condominiums of Government and private sector.

In line with “Vistas of Prosperity and Splendour” policy statement of His Excellency the President, CMA has taken steps to reduce its certificate issuing fees for Government sector condominiums which are over 5001 square feet to provide that benefit to its unit owners.

According to the act, CMA will play a significant role in the development of Port City. A plan has been developed by CMA for the Port City development activities under “One Stop Shop” concept introduced by UDA to expedite the approval process within a short period of time to meet foreign and local investor demands.

Year of 2020 was an exceptional year where every citizen in this country and globally had to experience the bitterness of Covid 19 pandemic and the construction industry in the country also faced a down turn and a standstill during this period. It was a very challenging year for CMA in terms of tough economic conditions due to Covid 19 pandemic and the country was locked down twice during 2020. As of 31st December 2020 CMA achieved a Rs.203 million income which was 2.6% over 2019 and the operational expenses was brought down by 8% compared to 2019. Net profit (PAT) for 2020 was Rs.32.96 million which was 80% increase compared to 2019 achievement of Rs.18.19 million. CMA has achieved excellent financial results by superseding its budget as of 31st October 2021. Achieved a revenue of Rs.304 million and a net profit of 142.1 million and brought down the cost below the budget 2021. Also CMA donated Rs.10 million in 2020 to the Covid fund as its Corporate Social Responsibility (CSR) towards the nation. A 5 year Corporate Plan, Action Plan, Budget, Procumbent Plan, Delegated Authority and Audit Plan for 2021 were completed in December 2020 with the participation of the senior management team of CMA.



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ComBank hands over fully refurbished wards at De Soysa Hospital for Women

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Pictured here are the representatives of the Bank and senior officials of the hospital at the ceremonial handing over of the refurbished ward.

The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.

Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.

Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.

Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.

The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.

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IIHS expands global nursing pathways

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Dr. Renuka Jayatissa and Dr. Kithsiri Edirisinghe speaking to the media

The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.

Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.

Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.

Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.

Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.

“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.

IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.

The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.

The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.

Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.

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Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair

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Sampath GPay customers can enjoy 25% cash back on Book Fair purchases

Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.

Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.

Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”

The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.

Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.

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