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Commercial Leasing & Finance delivers robust 1H 2021/22 performance

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PBT of Rs. 2.4 Bn & PAT of Rs. 1.8 Bn

Total Asset Base of Rs. 85 Bn; Loan portfolio amounted to Rs. 73 Bn

NPL at 5.7% against industry average of 12.9%

Further consolidating its achievements from the previous year of navigating the pandemic prudently while delivering a stellar year-end performance, Commercial Leasing & Finance PLC (CLC) posted strong results for 1H 2021/22. During the period, CLC recorded a Profit Before Tax (PBT) of Rs. 2.4 Bn and a Profit After Tax (PAT) of Rs. 1.8 Bn. This resounding performance can be attributed to exceptional portfolio management, with Non-Performing Loans (NPLs) maintained at 5.7% in contrast with an industry average of 12.99%. The Company also sustained its rapid growth momentum during the 6 months under review, evidenced by a growth in the gross portfolio by 12% for 6 months and 24% for the last 12 months. Interest Income also rose by 12% over the corresponding period in the previous year.

The Company’s Tier 1 Capital reached 20.22% and Tier 2 achieved 20.61%, well above regulatory requirements of 7% and 11% respectively. CLC’s overall equity rose to Rs. 23 Bn during the period. The Company possesses a diversified funding base consisting of deposits, capital market products, foreign funding lines, bank credit lines and a substantial level of equity. Reaffirming the strength and stability of CLC, ICRA Lanka Limited once again rated the company as SL (A), with a stable outlook in 2021.

CLC continued to expand its geographic footprint during the year, opening 3 new branches in 1H 2021/22, bringing the total branch network to 70. Another 7 are scheduled to be opened by the financial year-end. As one of Sri Lanka’s leading non-banking financial service providers, CLC offers many financial services ranging from leasing, loans, factoring, flexi cash, personal loans, Islamic finance, gold loans, credit cards, fixed deposits, savings and more – demonstrating market leadership across most of these product segments.

Commenting on the impressive 1H 2021/22 results, Krishan Thilakaratne, Executive Director/CEO of CLC said, “The true mettle of an organization can be seen in tough times and CLC has proved itself yet again by delivering a forceful financial performance in the first half of the 2021/22 financial year against a backdrop of many challenges in the market. CLC adopted a strategy of careful management of the credit portfolio while ensuring close monitoring of overheads and NPLs, making CLC one of the strongest financial institutions in the country.”

Over the years, CLC’s strong financial performance has attracted many awards and accolades. In the year 2021 as well, the LMD Brands Annual listed CLC in the Top 50 Brands, which highlighted the stability of the brand. CLC was also included amongst the Top 100 Listed Companies and the Top 100 Most Respected companies by LMD.



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JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification

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JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).

JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.

Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.

A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.

Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:

“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”

The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.

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Industry bodies flag gaps in Draft National Electricity Policy

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The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.

Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.

The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.

The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.

Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.

The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.

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Bank of Ceylon partners with 36th APB Sri Lanka Convention

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Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.

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